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Why the Market Dipped But NextEra Energy (NEE) Gained Today
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NextEra Energy (NEE - Free Report) closed the latest trading day at $72.81, indicating a +0.48% change from the previous session's end. The stock's change was more than the S&P 500's daily loss of 0.16%. Elsewhere, the Dow gained 0.04%, while the tech-heavy Nasdaq lost 0.18%.
Shares of the parent company of Florida Power & Light Co. Witnessed a loss of 3.8% over the previous month, beating the performance of the Utilities sector with its loss of 5.2% and underperforming the S&P 500's gain of 3.15%.
Analysts and investors alike will be keeping a close eye on the performance of NextEra Energy in its upcoming earnings disclosure. The company is predicted to post an EPS of $0.92, indicating a 4.55% growth compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $6.94 billion, indicating a 5.53% decrease compared to the same quarter of the previous year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $3.40 per share and revenue of $28.71 billion. These totals would mark changes of +7.26% and +2.11%, respectively, from last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for NextEra Energy. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, 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, there's been a 0.22% rise in the Zacks Consensus EPS estimate. NextEra Energy presently features a Zacks Rank of #3 (Hold).
In terms of valuation, NextEra Energy is currently trading at a Forward P/E ratio of 21.3. Its industry sports an average Forward P/E of 14.88, so one might conclude that NextEra Energy is trading at a premium comparatively.
Investors should also note that NEE has a PEG ratio of 2.48 right now. 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. As of the close of trade yesterday, the Utility - Electric Power industry held an average PEG ratio of 2.52.
The Utility - Electric Power industry is part of the Utilities sector. This industry currently has a Zacks Industry Rank of 84, which puts it in the top 34% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Why the Market Dipped But NextEra Energy (NEE) Gained Today
NextEra Energy (NEE - Free Report) closed the latest trading day at $72.81, indicating a +0.48% change from the previous session's end. The stock's change was more than the S&P 500's daily loss of 0.16%. Elsewhere, the Dow gained 0.04%, while the tech-heavy Nasdaq lost 0.18%.
Shares of the parent company of Florida Power & Light Co. Witnessed a loss of 3.8% over the previous month, beating the performance of the Utilities sector with its loss of 5.2% and underperforming the S&P 500's gain of 3.15%.
Analysts and investors alike will be keeping a close eye on the performance of NextEra Energy in its upcoming earnings disclosure. The company is predicted to post an EPS of $0.92, indicating a 4.55% growth compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $6.94 billion, indicating a 5.53% decrease compared to the same quarter of the previous year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $3.40 per share and revenue of $28.71 billion. These totals would mark changes of +7.26% and +2.11%, respectively, from last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for NextEra Energy. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, 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, there's been a 0.22% rise in the Zacks Consensus EPS estimate. NextEra Energy presently features a Zacks Rank of #3 (Hold).
In terms of valuation, NextEra Energy is currently trading at a Forward P/E ratio of 21.3. Its industry sports an average Forward P/E of 14.88, so one might conclude that NextEra Energy is trading at a premium comparatively.
Investors should also note that NEE has a PEG ratio of 2.48 right now. 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. As of the close of trade yesterday, the Utility - Electric Power industry held an average PEG ratio of 2.52.
The Utility - Electric Power industry is part of the Utilities sector. This industry currently has a Zacks Industry Rank of 84, which puts it in the top 34% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.