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Nextracker (NXT) Stock Slides as Market Rises: Facts to Know Before You Trade
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Nextracker (NXT - Free Report) ended the recent trading session at $43.88, demonstrating a -1.22% swing from the preceding day's closing price. The stock trailed the S&P 500, which registered a daily gain of 0.02%. Meanwhile, the Dow experienced a drop of 0.11%, and the technology-dominated Nasdaq saw an increase of 0.1%.
Coming into today, shares of the solar energy equipment supplier had lost 21.62% in the past month. In that same time, the Oils-Energy sector gained 4.26%, while the S&P 500 lost 3.01%.
The investment community will be closely monitoring the performance of Nextracker in its forthcoming earnings report. The company is scheduled to release its earnings on May 14, 2024. It is anticipated that the company will report an EPS of $0.60, marking a 185.71% rise compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $681.78 million, up 31.52% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Nextracker. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. At present, Nextracker boasts a Zacks Rank of #1 (Strong Buy).
Digging into valuation, Nextracker currently has a Forward P/E ratio of 13.75. This indicates a premium in contrast to its industry's Forward P/E of 12.28.
It is also worth noting that NXT currently has a PEG ratio of 0.29. 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. The Solar industry had an average PEG ratio of 0.31 as trading concluded yesterday.
The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 169, which puts it in the bottom 33% of all 250+ industries.
The Zacks Industry Rank is ordered 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.
To follow NXT in the coming trading sessions, be sure to utilize Zacks.com.
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Nextracker (NXT) Stock Slides as Market Rises: Facts to Know Before You Trade
Nextracker (NXT - Free Report) ended the recent trading session at $43.88, demonstrating a -1.22% swing from the preceding day's closing price. The stock trailed the S&P 500, which registered a daily gain of 0.02%. Meanwhile, the Dow experienced a drop of 0.11%, and the technology-dominated Nasdaq saw an increase of 0.1%.
Coming into today, shares of the solar energy equipment supplier had lost 21.62% in the past month. In that same time, the Oils-Energy sector gained 4.26%, while the S&P 500 lost 3.01%.
The investment community will be closely monitoring the performance of Nextracker in its forthcoming earnings report. The company is scheduled to release its earnings on May 14, 2024. It is anticipated that the company will report an EPS of $0.60, marking a 185.71% rise compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $681.78 million, up 31.52% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Nextracker. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. At present, Nextracker boasts a Zacks Rank of #1 (Strong Buy).
Digging into valuation, Nextracker currently has a Forward P/E ratio of 13.75. This indicates a premium in contrast to its industry's Forward P/E of 12.28.
It is also worth noting that NXT currently has a PEG ratio of 0.29. 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. The Solar industry had an average PEG ratio of 0.31 as trading concluded yesterday.
The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 169, which puts it in the bottom 33% of all 250+ industries.
The Zacks Industry Rank is ordered 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.
To follow NXT in the coming trading sessions, be sure to utilize Zacks.com.