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Why the Market Dipped But Nextracker (NXT) Gained Today
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In the latest market close, Nextracker (NXT - Free Report) reached $56.65, with a +0.6% movement compared to the previous day. The stock's change was more than the S&P 500's daily loss of 0.6%. Elsewhere, the Dow saw a downswing of 0.86%, while the tech-heavy Nasdaq depreciated by 1.08%.
Prior to today's trading, shares of the solar energy equipment supplier had gained 31.35% over the past month. This has outpaced the Oils-Energy sector's loss of 3.84% and the S&P 500's gain of 3.15% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Nextracker in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $0.61, reflecting a 27.08% increase from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $618.56 million, indicating a 28.99% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $2.89 per share and revenue of $2.87 billion, which would represent changes of -5.56% and +14.72%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Nextracker. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 8.34% lower. As of now, Nextracker holds a Zacks Rank of #3 (Hold).
In the context of valuation, Nextracker is at present trading with a Forward P/E ratio of 19.46. This expresses a premium compared to the average Forward P/E of 15.13 of its industry.
The Solar industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 218, this industry ranks in the bottom 14% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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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Why the Market Dipped But Nextracker (NXT) Gained Today
In the latest market close, Nextracker (NXT - Free Report) reached $56.65, with a +0.6% movement compared to the previous day. The stock's change was more than the S&P 500's daily loss of 0.6%. Elsewhere, the Dow saw a downswing of 0.86%, while the tech-heavy Nasdaq depreciated by 1.08%.
Prior to today's trading, shares of the solar energy equipment supplier had gained 31.35% over the past month. This has outpaced the Oils-Energy sector's loss of 3.84% and the S&P 500's gain of 3.15% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Nextracker in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $0.61, reflecting a 27.08% increase from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $618.56 million, indicating a 28.99% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $2.89 per share and revenue of $2.87 billion, which would represent changes of -5.56% and +14.72%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Nextracker. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 8.34% lower. As of now, Nextracker holds a Zacks Rank of #3 (Hold).
In the context of valuation, Nextracker is at present trading with a Forward P/E ratio of 19.46. This expresses a premium compared to the average Forward P/E of 15.13 of its industry.
The Solar industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 218, this industry ranks in the bottom 14% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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.