Aug 3, 2011
Constellation Energy (NYSE:CEG) reported Q2 adjusted EPS of $0.76, less than the analyst estimates of $0.85 per share. Revenues for the quarter rose 1.5% year-over-year to $3.35 billion, missing consensus estimates of $3.86 billion.
The company lowered its 2011 earnings guidance range by $0.05 to $3.05 to $3.35 per share, reflecting the combined effects of longer-than-expected outages at their nuclear joint venture facilities and the impact of our recent acquisitions in the competitive residential electric market. In light of the pending merger with Exelon, the company is no longer providing earnings guidance for 2012.
Constellation Energy (NYSE:CEG) has a potential upside of 6.3% based on a current price of $37.85 and an average consensus analyst price target of $40.25.
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