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Nextracker (NXT) Sees a More Significant Dip Than Broader Market: Some Facts to Know
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In the latest market close, Nextracker (NXT - Free Report) reached $47.14, with a -0.59% movement compared to the previous day. This change lagged the S&P 500's 0.16% loss on the day. At the same time, the Dow lost 0.14%, and the tech-heavy Nasdaq lost 0.06%.
The solar energy equipment supplier's stock has dropped by 8.51% in the past month, falling short of the Oils-Energy sector's loss of 7.84% and the S&P 500's gain of 1.96%.
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. In that report, analysts expect Nextracker to post earnings of $0.66 per share. This would mark year-over-year growth of 37.5%. 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.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $3.12 per share and revenue of $2.87 billion, indicating changes of +1.96% and +14.62%, respectively, compared to the previous year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Nextracker. These latest adjustments often mirror the shifting dynamics of short-term business patterns. 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 take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. At present, Nextracker boasts a Zacks Rank of #3 (Hold).
In the context of valuation, Nextracker is at present trading with a Forward P/E ratio of 15.22. This expresses a premium compared to the average Forward P/E of 11.32 of its industry.
The Solar industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 216, positioning it in the bottom 15% of all 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Nextracker (NXT) Sees a More Significant Dip Than Broader Market: Some Facts to Know
In the latest market close, Nextracker (NXT - Free Report) reached $47.14, with a -0.59% movement compared to the previous day. This change lagged the S&P 500's 0.16% loss on the day. At the same time, the Dow lost 0.14%, and the tech-heavy Nasdaq lost 0.06%.
The solar energy equipment supplier's stock has dropped by 8.51% in the past month, falling short of the Oils-Energy sector's loss of 7.84% and the S&P 500's gain of 1.96%.
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. In that report, analysts expect Nextracker to post earnings of $0.66 per share. This would mark year-over-year growth of 37.5%. 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.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $3.12 per share and revenue of $2.87 billion, indicating changes of +1.96% and +14.62%, respectively, compared to the previous year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Nextracker. These latest adjustments often mirror the shifting dynamics of short-term business patterns. 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 take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. At present, Nextracker boasts a Zacks Rank of #3 (Hold).
In the context of valuation, Nextracker is at present trading with a Forward P/E ratio of 15.22. This expresses a premium compared to the average Forward P/E of 11.32 of its industry.
The Solar industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 216, positioning it in the bottom 15% of all 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.