Progress Energy Earnings Preview: Analysts Expect Flat EPS, Rising Revenue

Progress Energy (NYSE: PGN) unveils its next round of earnings this Thursday, November 3, 2011. Here is Benzinga's everything-that-matters guide for this Thursday's third quarter earnings announcement.

Earnings and Revenue:

Analysts are looking ahead to a positive EPS of $1.23/share and revenues of $3.05 billion. Progress Energy's latest numbers will no doubt be compared with the company's year-ago quarter, when it reported a profit of $1.23/share on revenues of $2.96 billion. We'll have to wait for Thursday to see if the company falls in line with Wall Street predictions and reports a boost in revenue and a steady EPS from the year-ago quarter.

Here's how the company's reported EPS has stacked up against analyst estimates in the past:

Stock Performance:

As of October 28, 2011, Progress Energy's current share price was $52.43. Since January 1st, shares have given investors a return of 27.1%. For a full 12 months, the return has risen by 12.8%. Given that these returns are generally positive, long-term shareholders are probably satisfied going into this earnings release.

• Long-term shareholders are already enjoying 12-month gains prior to the announcement

Average Stock Rating:

The average rating by analysts is a Hold. This rating hasn't budged over the past three months.

Competitors:

Looking for a sympathy stock to trade or interested in the performance of other companies in the same sector? Take a look at some of Progress Energy's peers.

• American Electric Power Company (NYSE: AEP): Hold with a $1.17 recent quarter EPS
• Dominion Resources (NYSE: D): Hold with a $0.95 recent quarter EPS
• Duke Energy (NYSE: DUK): Moderate Sell with a $0.33 recent quarter EPS
• Entergy (NYSE: ETR): Hold with a $1.76 recent quarter EPS

The utility-electric power company's industry has seen price/earnings growth of 26.8% during the current fiscal year.

Finally, a description of the company's main areas of operation: Progress Energy is an integrated electric utility that generates, transmits, and distributes power in portions of North Carolina, South Carolina, and Florida.

Take Action:

Now that you've gotten an advanced peak at Progress Energy's upcoming earnings numbers, keep an eye out for any surprises in the report and be ready to take action. Also, check back in with us after the announcement for a full recap and a guide to your next steps.

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