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Nextracker (NXT) Surpasses Market Returns: Some Facts Worth Knowing
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Nextracker (NXT - Free Report) closed the latest trading day at $48.09, indicating a +0.67% change from the previous session's end. The stock exceeded the S&P 500, which registered a gain of 0.64% for the day. Meanwhile, the Dow gained 1.85%, and the Nasdaq, a tech-heavy index, added 0.2%.
The solar energy equipment supplier's shares have seen a decrease of 17.41% over the last month, not keeping up with the Oils-Energy sector's loss of 8% and the S&P 500's gain of 3.82%.
Analysts and investors alike will be keeping a close eye on the performance of Nextracker in its upcoming earnings disclosure. The company's earnings report is set to go public on August 1, 2024. The company is expected to report EPS of $0.61, up 27.08% from the prior-year quarter. 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.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $2.91 per share and a revenue of $2.87 billion, indicating changes of -4.9% and +14.62%, respectively, from the former year.
Investors should also take note of any recent adjustments to analyst estimates for Nextracker. 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 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, 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. Over the past month, there's been no change in the Zacks Consensus EPS estimate. As of now, Nextracker holds a Zacks Rank of #5 (Strong Sell).
Investors should also note Nextracker's current valuation metrics, including its Forward P/E ratio of 16.4. This represents a premium compared to its industry's average Forward P/E of 11.44.
The Solar industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 216, placing it within the bottom 15% of over 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.
To follow NXT in the coming trading sessions, be sure to utilize Zacks.com.
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Nextracker (NXT) Surpasses Market Returns: Some Facts Worth Knowing
Nextracker (NXT - Free Report) closed the latest trading day at $48.09, indicating a +0.67% change from the previous session's end. The stock exceeded the S&P 500, which registered a gain of 0.64% for the day. Meanwhile, the Dow gained 1.85%, and the Nasdaq, a tech-heavy index, added 0.2%.
The solar energy equipment supplier's shares have seen a decrease of 17.41% over the last month, not keeping up with the Oils-Energy sector's loss of 8% and the S&P 500's gain of 3.82%.
Analysts and investors alike will be keeping a close eye on the performance of Nextracker in its upcoming earnings disclosure. The company's earnings report is set to go public on August 1, 2024. The company is expected to report EPS of $0.61, up 27.08% from the prior-year quarter. 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.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $2.91 per share and a revenue of $2.87 billion, indicating changes of -4.9% and +14.62%, respectively, from the former year.
Investors should also take note of any recent adjustments to analyst estimates for Nextracker. 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 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, 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. Over the past month, there's been no change in the Zacks Consensus EPS estimate. As of now, Nextracker holds a Zacks Rank of #5 (Strong Sell).
Investors should also note Nextracker's current valuation metrics, including its Forward P/E ratio of 16.4. This represents a premium compared to its industry's average Forward P/E of 11.44.
The Solar industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 216, placing it within the bottom 15% of over 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.
To follow NXT in the coming trading sessions, be sure to utilize Zacks.com.