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Southern Co. (SO) Falls More Steeply Than Broader Market: What Investors Need to Know
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The latest trading session saw Southern Co. (SO - Free Report) ending at $81.66, denoting a -1.22% adjustment from its last day's close. The stock's change was less than the S&P 500's daily loss of 0.51%. Elsewhere, the Dow saw an upswing of 0.2%, while the tech-heavy Nasdaq depreciated by 0.93%.
Coming into today, shares of the power company had gained 5.7% in the past month. In that same time, the Utilities sector gained 0.16%, while the S&P 500 lost 0.26%.
Investors will be eagerly watching for the performance of Southern Co. in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on August 1, 2024. In that report, analysts expect Southern Co. to post earnings of $0.91 per share. This would mark year-over-year growth of 15.19%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.27 billion, up 9.12% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $4.01 per share and revenue of $26.52 billion, indicating changes of +9.86% and +5.03%, respectively, compared to the previous year.
Investors should also take note of any recent adjustments to analyst estimates for Southern Co. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.26% higher. Currently, Southern Co. is carrying a Zacks Rank of #3 (Hold).
With respect to valuation, Southern Co. is currently being traded at a Forward P/E ratio of 20.63. This signifies a premium in comparison to the average Forward P/E of 15.86 for its industry.
It is also worth noting that SO currently has a PEG ratio of 2.97. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. SO's industry had an average PEG ratio of 2.64 as of yesterday's close.
The Utility - Electric Power industry is part of the Utilities sector. With its current Zacks Industry Rank of 52, this industry ranks in the top 21% of all industries, numbering over 250.
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.
To follow SO in the coming trading sessions, be sure to utilize Zacks.com.
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Southern Co. (SO) Falls More Steeply Than Broader Market: What Investors Need to Know
The latest trading session saw Southern Co. (SO - Free Report) ending at $81.66, denoting a -1.22% adjustment from its last day's close. The stock's change was less than the S&P 500's daily loss of 0.51%. Elsewhere, the Dow saw an upswing of 0.2%, while the tech-heavy Nasdaq depreciated by 0.93%.
Coming into today, shares of the power company had gained 5.7% in the past month. In that same time, the Utilities sector gained 0.16%, while the S&P 500 lost 0.26%.
Investors will be eagerly watching for the performance of Southern Co. in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on August 1, 2024. In that report, analysts expect Southern Co. to post earnings of $0.91 per share. This would mark year-over-year growth of 15.19%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.27 billion, up 9.12% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $4.01 per share and revenue of $26.52 billion, indicating changes of +9.86% and +5.03%, respectively, compared to the previous year.
Investors should also take note of any recent adjustments to analyst estimates for Southern Co. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.26% higher. Currently, Southern Co. is carrying a Zacks Rank of #3 (Hold).
With respect to valuation, Southern Co. is currently being traded at a Forward P/E ratio of 20.63. This signifies a premium in comparison to the average Forward P/E of 15.86 for its industry.
It is also worth noting that SO currently has a PEG ratio of 2.97. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. SO's industry had an average PEG ratio of 2.64 as of yesterday's close.
The Utility - Electric Power industry is part of the Utilities sector. With its current Zacks Industry Rank of 52, this industry ranks in the top 21% of all industries, numbering over 250.
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.
To follow SO in the coming trading sessions, be sure to utilize Zacks.com.