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Nextracker (NXT) Ascends While Market Falls: Some Facts to Note
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In the latest market close, Nextracker (NXT - Free Report) reached $50.99, with a +1.88% movement compared to the previous day. The stock's change was more than the S&P 500's daily loss of 0.04%. Elsewhere, the Dow lost 0.03%, while the tech-heavy Nasdaq added 0.03%.
The solar energy equipment supplier's shares have seen a decrease of 15.98% over the last month, not keeping up with the Oils-Energy sector's gain of 10.76% and the S&P 500's gain of 2.57%.
Analysts and investors alike will be keeping a close eye on the performance of Nextracker in its upcoming earnings disclosure. The company is expected to report EPS of $0.59, up 180.95% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $678.21 million, indicating a 30.83% upward movement from the same quarter last year.
Investors might also notice recent changes to analyst estimates for Nextracker. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Nextracker is holding a Zacks Rank of #1 (Strong Buy) right now.
Digging into valuation, Nextracker currently has a Forward P/E ratio of 15.58. This denotes a premium relative to the industry's average Forward P/E of 12.64.
One should further note that NXT currently holds a PEG ratio of 0.44. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. As the market closed yesterday, the Solar industry was having an average PEG ratio of 0.44.
The Solar industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 91, positioning it in the top 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Nextracker (NXT) Ascends While Market Falls: Some Facts to Note
In the latest market close, Nextracker (NXT - Free Report) reached $50.99, with a +1.88% movement compared to the previous day. The stock's change was more than the S&P 500's daily loss of 0.04%. Elsewhere, the Dow lost 0.03%, while the tech-heavy Nasdaq added 0.03%.
The solar energy equipment supplier's shares have seen a decrease of 15.98% over the last month, not keeping up with the Oils-Energy sector's gain of 10.76% and the S&P 500's gain of 2.57%.
Analysts and investors alike will be keeping a close eye on the performance of Nextracker in its upcoming earnings disclosure. The company is expected to report EPS of $0.59, up 180.95% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $678.21 million, indicating a 30.83% upward movement from the same quarter last year.
Investors might also notice recent changes to analyst estimates for Nextracker. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Nextracker is holding a Zacks Rank of #1 (Strong Buy) right now.
Digging into valuation, Nextracker currently has a Forward P/E ratio of 15.58. This denotes a premium relative to the industry's average Forward P/E of 12.64.
One should further note that NXT currently holds a PEG ratio of 0.44. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. As the market closed yesterday, the Solar industry was having an average PEG ratio of 0.44.
The Solar industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 91, positioning it in the top 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.