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Here's Why NRG Energy (NRG) Fell More Than Broader Market
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In the latest market close, NRG Energy (NRG - Free Report) reached $76.61, with a -0.31% movement compared to the previous day. This move lagged the S&P 500's daily loss of 0.16%. At the same time, the Dow lost 0.14%, and the tech-heavy Nasdaq lost 0.06%.
The power company's shares have seen a decrease of 5.77% over the last month, not keeping up with the Utilities sector's gain of 0.93% and the S&P 500's gain of 1.96%.
The investment community will be paying close attention to the earnings performance of NRG Energy in its upcoming release. The company is slated to reveal its earnings on August 8, 2024. The company is forecasted to report an EPS of $1.38, showcasing a 25.45% upward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $4.59 billion, indicating a 27.75% decline compared to the corresponding quarter of the prior year.
NRG's full-year Zacks Consensus Estimates are calling for earnings of $6.63 per share and revenue of $25.46 billion. These results would represent year-over-year changes of +53.47% and -11.68%, respectively.
It's also important for investors to be aware of any recent modifications to analyst estimates for NRG Energy. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Currently, NRG Energy is carrying a Zacks Rank of #3 (Hold).
In terms of valuation, NRG Energy is presently being traded at a Forward P/E ratio of 11.6. This signifies a discount in comparison to the average Forward P/E of 15.78 for its industry.
The Utility - Electric Power industry is part of the Utilities sector. With its current Zacks Industry Rank of 75, this industry ranks in the top 30% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our 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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Here's Why NRG Energy (NRG) Fell More Than Broader Market
In the latest market close, NRG Energy (NRG - Free Report) reached $76.61, with a -0.31% movement compared to the previous day. This move lagged the S&P 500's daily loss of 0.16%. At the same time, the Dow lost 0.14%, and the tech-heavy Nasdaq lost 0.06%.
The power company's shares have seen a decrease of 5.77% over the last month, not keeping up with the Utilities sector's gain of 0.93% and the S&P 500's gain of 1.96%.
The investment community will be paying close attention to the earnings performance of NRG Energy in its upcoming release. The company is slated to reveal its earnings on August 8, 2024. The company is forecasted to report an EPS of $1.38, showcasing a 25.45% upward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $4.59 billion, indicating a 27.75% decline compared to the corresponding quarter of the prior year.
NRG's full-year Zacks Consensus Estimates are calling for earnings of $6.63 per share and revenue of $25.46 billion. These results would represent year-over-year changes of +53.47% and -11.68%, respectively.
It's also important for investors to be aware of any recent modifications to analyst estimates for NRG Energy. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Currently, NRG Energy is carrying a Zacks Rank of #3 (Hold).
In terms of valuation, NRG Energy is presently being traded at a Forward P/E ratio of 11.6. This signifies a discount in comparison to the average Forward P/E of 15.78 for its industry.
The Utility - Electric Power industry is part of the Utilities sector. With its current Zacks Industry Rank of 75, this industry ranks in the top 30% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our 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.