PGN Comments on ‘08 &’09 Earnings Outlook – Zacks Tale of the Tape
Source: http://www.zacks.com/stock/news/16646/PGN+Comments+on+%2708+%26%2709+Earnings+Outlook+-+Zacks+Tale+of+the+TapePosted on Monday, January 5th, 2009 | In Stocks to Watch
Contributed by: Zacks Market Commentaries (http://www.zacks.com/) -
Progress Energy Inc. (PGN) expects fiscal 2008 earnings at the lower end of its projection.
The electric utility firm is looking for a profit of $2.95 to $3.05 a share for 2008. Analysts see profit of $3.01 a share.
For 2009, Progress Energy has forecasted earnings in the range of $2.95 to $3.15 a share, while analysts’ estimates stand at $3.11 a share.
The company also stated that it slashed its 2009 capital expenditure budget by roughly $250 million.
Progress Energy is a Zacks #3 Rank (”Hold”) company.
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