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Constellation Energy Corporation (CEG) Falls More Steeply Than Broader Market: What Investors Need to Know
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In the latest market close, Constellation Energy Corporation (CEG - Free Report) reached $189.87, with a -0.29% movement compared to the previous day. The stock's change was less than the S&P 500's daily loss of 0.16%. Elsewhere, the Dow saw a downswing of 0.14%, while the tech-heavy Nasdaq depreciated by 0.06%.
Coming into today, shares of the company had lost 11.88% in the past month. In that same time, the Oils-Energy sector lost 7.84%, while the S&P 500 gained 1.96%.
The upcoming earnings release of Constellation Energy Corporation will be of great interest to investors. The company's earnings report is expected on August 6, 2024. The company is expected to report EPS of $1.57, down 38.67% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.3 billion, down 2.67% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $7.65 per share and revenue of $23.77 billion, indicating changes of +52.69% and -4.62%, respectively, compared to the previous year.
Investors should also note any recent changes to analyst estimates for Constellation Energy Corporation. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Right now, Constellation Energy Corporation possesses a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that Constellation Energy Corporation has a Forward P/E ratio of 24.89 right now. For comparison, its industry has an average Forward P/E of 23.74, which means Constellation Energy Corporation is trading at a premium to the group.
Meanwhile, CEG's PEG ratio is currently 1.98. 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. Alternative Energy - Other stocks are, on average, holding a PEG ratio of 1.65 based on yesterday's closing prices.
The Alternative Energy - Other industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 186, putting it in the bottom 27% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within 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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Constellation Energy Corporation (CEG) Falls More Steeply Than Broader Market: What Investors Need to Know
In the latest market close, Constellation Energy Corporation (CEG - Free Report) reached $189.87, with a -0.29% movement compared to the previous day. The stock's change was less than the S&P 500's daily loss of 0.16%. Elsewhere, the Dow saw a downswing of 0.14%, while the tech-heavy Nasdaq depreciated by 0.06%.
Coming into today, shares of the company had lost 11.88% in the past month. In that same time, the Oils-Energy sector lost 7.84%, while the S&P 500 gained 1.96%.
The upcoming earnings release of Constellation Energy Corporation will be of great interest to investors. The company's earnings report is expected on August 6, 2024. The company is expected to report EPS of $1.57, down 38.67% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.3 billion, down 2.67% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $7.65 per share and revenue of $23.77 billion, indicating changes of +52.69% and -4.62%, respectively, compared to the previous year.
Investors should also note any recent changes to analyst estimates for Constellation Energy Corporation. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Right now, Constellation Energy Corporation possesses a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that Constellation Energy Corporation has a Forward P/E ratio of 24.89 right now. For comparison, its industry has an average Forward P/E of 23.74, which means Constellation Energy Corporation is trading at a premium to the group.
Meanwhile, CEG's PEG ratio is currently 1.98. 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. Alternative Energy - Other stocks are, on average, holding a PEG ratio of 1.65 based on yesterday's closing prices.
The Alternative Energy - Other industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 186, putting it in the bottom 27% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within 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.