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NextEra Energy (NEE) Gains But Lags Market: What You Should Know
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NextEra Energy (NEE - Free Report) closed at $73.71 in the latest trading session, marking a +0.33% move from the prior day. This move lagged the S&P 500's daily gain of 0.85%. Elsewhere, the Dow gained 0.14%, while the tech-heavy Nasdaq added 5.61%.
Heading into today, shares of the parent company of Florida Power & Light Co. Had gained 0.1% over the past month, outpacing the Utilities sector's loss of 1% and lagging the S&P 500's gain of 3.18% in that time.
Wall Street will be looking for positivity from NextEra Energy as it approaches its next earnings report date. This is expected to be July 25, 2023. On that day, NextEra Energy is projected to report earnings of $0.79 per share, which would represent a year-over-year decline of 2.47%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.67 billion, up 28.73% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.11 per share and revenue of $27.13 billion, which would represent changes of +7.24% and +29.45%, respectively, from the prior year.
Any recent changes to analyst estimates for NextEra Energy should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.05% higher. NextEra Energy currently has a Zacks Rank of #2 (Buy).
Digging into valuation, NextEra Energy currently has a Forward P/E ratio of 23.64. For comparison, its industry has an average Forward P/E of 16.72, which means NextEra Energy is trading at a premium to the group.
Also, we should mention that NEE has a PEG ratio of 2.82. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. NEE's industry had an average PEG ratio of 2.94 as of yesterday's close.
The Utility - Electric Power industry is part of the Utilities sector. This group has a Zacks Industry Rank of 58, putting it in the top 24% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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NextEra Energy (NEE) Gains But Lags Market: What You Should Know
NextEra Energy (NEE - Free Report) closed at $73.71 in the latest trading session, marking a +0.33% move from the prior day. This move lagged the S&P 500's daily gain of 0.85%. Elsewhere, the Dow gained 0.14%, while the tech-heavy Nasdaq added 5.61%.
Heading into today, shares of the parent company of Florida Power & Light Co. Had gained 0.1% over the past month, outpacing the Utilities sector's loss of 1% and lagging the S&P 500's gain of 3.18% in that time.
Wall Street will be looking for positivity from NextEra Energy as it approaches its next earnings report date. This is expected to be July 25, 2023. On that day, NextEra Energy is projected to report earnings of $0.79 per share, which would represent a year-over-year decline of 2.47%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.67 billion, up 28.73% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.11 per share and revenue of $27.13 billion, which would represent changes of +7.24% and +29.45%, respectively, from the prior year.
Any recent changes to analyst estimates for NextEra Energy should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.05% higher. NextEra Energy currently has a Zacks Rank of #2 (Buy).
Digging into valuation, NextEra Energy currently has a Forward P/E ratio of 23.64. For comparison, its industry has an average Forward P/E of 16.72, which means NextEra Energy is trading at a premium to the group.
Also, we should mention that NEE has a PEG ratio of 2.82. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. NEE's industry had an average PEG ratio of 2.94 as of yesterday's close.
The Utility - Electric Power industry is part of the Utilities sector. This group has a Zacks Industry Rank of 58, putting it in the top 24% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.