Public Service Enterprise Group Incorporated (NYSE:PEG) investors will be delighted, with the company turning in some strong numbers with its latest results. The company beat forecasts, with revenue of US$11b, some 2.6% above estimates, and statutory earnings per share (EPS) coming in at US$5.13, 34% ahead of expectations. Following the result, the analysts have updated their earnings model, and it would be good to know whether they think there's been a strong change in the company's prospects, or if it's business as usual. Readers will be glad to know we've aggregated the latest statutory forecasts to see whether the analysts have changed their mind on Public Service Enterprise Group after the latest results.

See our latest analysis for Public Service Enterprise Group

Taking into account the latest results, the current consensus, from the 13 analysts covering Public Service Enterprise Group, is for revenues of US$10.9b in 2024. This implies a noticeable 3.0% reduction in Public Service Enterprise Group's revenue over the past 12 months. Statutory earnings per share are expected to plunge 28% to US$3.69 in the same period. Yet prior to the latest earnings, the analysts had been anticipated revenues of US$10.7b and earnings per share (EPS) of US$3.69 in 2024. The consensus analysts don't seem to have seen anything in these results that would have changed their view on the business, given there's been no major change to their estimates.

It will come as no surprise then, to learn that the consensus price target is largely unchanged at US$65.53. There's another way to think about price targets though, and that's to look at the range of price targets put forward by analysts, because a wide range of estimates could suggest a diverse view on possible outcomes for the business. Currently, the most bullish analyst values Public Service Enterprise Group at US$70.00 per share, while the most bearish prices it at US$61.00. The narrow spread of estimates could suggest that the business' future is relatively easy to value, or thatthe analysts have a strong view on its prospects.

Of course, another way to look at these forecasts is to place them into context against the industry itself. These estimates imply that revenue is expected to slow, with a forecast annualised decline of 3.0% by the end of 2024. This indicates a significant reduction from annual growth of 2.4% over the last five years. By contrast, our data suggests that other companies (with analyst coverage) in the same industry are forecast to see their revenue grow 4.0% annually for the foreseeable future. So although its revenues are forecast to shrink, this cloud does not come with a silver lining - Public Service Enterprise Group is expected to lag the wider industry.