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Here's Why Nextracker (NXT) Gained But Lagged the Market Today
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The most recent trading session ended with Nextracker (NXT - Free Report) standing at $48.52, reflecting a +0.41% shift from the previouse trading day's closing. This change lagged the S&P 500's 1.02% gain on the day. At the same time, the Dow added 1.09%, and the tech-heavy Nasdaq gained 1.18%.
The the stock of solar energy equipment supplier has fallen by 17.99% in the past month, lagging the Oils-Energy sector's loss of 11.98% and the S&P 500's gain of 4.44%.
The investment community will be closely monitoring the performance of Nextracker in its forthcoming earnings report. The company is predicted to post an EPS of $0.61, indicating a 27.08% growth compared to the equivalent 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 $2.91 per share and revenue of $2.87 billion, which would represent changes of -4.9% and +14.62%, respectively, from the prior year.
Investors might also notice 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. As of now, Nextracker holds a Zacks Rank of #3 (Hold).
From a valuation perspective, Nextracker is currently exchanging hands at a Forward P/E ratio of 16.59. This indicates a premium in contrast to its industry's Forward P/E of 10.15.
The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 229, which puts it in the bottom 10% 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Here's Why Nextracker (NXT) Gained But Lagged the Market Today
The most recent trading session ended with Nextracker (NXT - Free Report) standing at $48.52, reflecting a +0.41% shift from the previouse trading day's closing. This change lagged the S&P 500's 1.02% gain on the day. At the same time, the Dow added 1.09%, and the tech-heavy Nasdaq gained 1.18%.
The the stock of solar energy equipment supplier has fallen by 17.99% in the past month, lagging the Oils-Energy sector's loss of 11.98% and the S&P 500's gain of 4.44%.
The investment community will be closely monitoring the performance of Nextracker in its forthcoming earnings report. The company is predicted to post an EPS of $0.61, indicating a 27.08% growth compared to the equivalent 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 $2.91 per share and revenue of $2.87 billion, which would represent changes of -4.9% and +14.62%, respectively, from the prior year.
Investors might also notice 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. As of now, Nextracker holds a Zacks Rank of #3 (Hold).
From a valuation perspective, Nextracker is currently exchanging hands at a Forward P/E ratio of 16.59. This indicates a premium in contrast to its industry's Forward P/E of 10.15.
The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 229, which puts it in the bottom 10% 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.