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NextEra Energy (NEE) Stock Moves -1.39%: What You Should Know
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The latest trading session saw NextEra Energy (NEE - Free Report) ending at $70.90, denoting a -1.39% adjustment from its last day's close. The stock performed in line with S&P 500. At the same time, the Dow added 0.6%, and the tech-heavy Nasdaq lost 2.77%.
Prior to today's trading, shares of the parent company of Florida Power & Light Co. Had gained 2.07% over the past month. This has outpaced the Utilities sector's loss of 1.01% and lagged the S&P 500's gain of 4.43% in that time.
The upcoming earnings release of NextEra Energy will be of great interest to investors. The company's earnings report is expected on July 24, 2024. The company is forecasted to report an EPS of $0.93, showcasing a 5.68% upward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $7.24 billion, showing a 1.47% drop compared to the year-ago quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $3.40 per share and a revenue of $28.64 billion, signifying shifts of +7.26% and +1.87%, respectively, from the last year.
Investors should also note any recent changes to analyst estimates for NextEra Energy. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, 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. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.23% higher. At present, NextEra Energy boasts a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that NextEra Energy has a Forward P/E ratio of 21.14 right now. This expresses a premium compared to the average Forward P/E of 15.75 of its industry.
It is also worth noting that NEE currently has a PEG ratio of 2.46. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As of the close of trade yesterday, the Utility - Electric Power industry held an average PEG ratio of 2.58.
The Utility - Electric Power industry is part of the Utilities sector. This industry, currently bearing a Zacks Industry Rank of 101, finds itself in the top 41% echelons 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.
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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NextEra Energy (NEE) Stock Moves -1.39%: What You Should Know
The latest trading session saw NextEra Energy (NEE - Free Report) ending at $70.90, denoting a -1.39% adjustment from its last day's close. The stock performed in line with S&P 500. At the same time, the Dow added 0.6%, and the tech-heavy Nasdaq lost 2.77%.
Prior to today's trading, shares of the parent company of Florida Power & Light Co. Had gained 2.07% over the past month. This has outpaced the Utilities sector's loss of 1.01% and lagged the S&P 500's gain of 4.43% in that time.
The upcoming earnings release of NextEra Energy will be of great interest to investors. The company's earnings report is expected on July 24, 2024. The company is forecasted to report an EPS of $0.93, showcasing a 5.68% upward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $7.24 billion, showing a 1.47% drop compared to the year-ago quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $3.40 per share and a revenue of $28.64 billion, signifying shifts of +7.26% and +1.87%, respectively, from the last year.
Investors should also note any recent changes to analyst estimates for NextEra Energy. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, 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. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.23% higher. At present, NextEra Energy boasts a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that NextEra Energy has a Forward P/E ratio of 21.14 right now. This expresses a premium compared to the average Forward P/E of 15.75 of its industry.
It is also worth noting that NEE currently has a PEG ratio of 2.46. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As of the close of trade yesterday, the Utility - Electric Power industry held an average PEG ratio of 2.58.
The Utility - Electric Power industry is part of the Utilities sector. This industry, currently bearing a Zacks Industry Rank of 101, finds itself in the top 41% echelons 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.