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Why NRG Energy (NRG) Outpaced the Stock Market Today
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In the latest market close, NRG Energy (NRG - Free Report) reached $74.33, with a +0.84% movement compared to the previous day. The stock exceeded the S&P 500, which registered a gain of 0.08% for the day. Elsewhere, the Dow lost 0.12%, while the tech-heavy Nasdaq added 0.07%.
Prior to today's trading, shares of the power company had lost 5.33% over the past month. This has lagged the Utilities sector's gain of 1.92% and the S&P 500's loss of 0.21% in that time.
The investment community will be closely monitoring the performance of NRG Energy in its forthcoming earnings report. The company is scheduled to release its earnings on August 8, 2024. The company is forecasted to report an EPS of $1.30, showcasing a 18.18% upward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $4.48 billion, showing a 29.4% drop compared to the year-ago quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $6.61 per share and revenue of $25.28 billion, indicating changes of +53.01% and -12.31%, respectively, compared to the previous year.
Investors should also note any recent changes to analyst estimates for NRG Energy. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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.
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 past month, there's been a 0.67% fall in the Zacks Consensus EPS estimate. Right now, NRG Energy possesses a Zacks Rank of #3 (Hold).
Investors should also note NRG Energy's current valuation metrics, including its Forward P/E ratio of 11.15. This expresses a discount compared to the average Forward P/E of 15.96 of its industry.
The Utility - Electric Power industry is part of the Utilities sector. At present, this industry carries a Zacks Industry Rank of 55, placing it within the top 22% of over 250 industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Why NRG Energy (NRG) Outpaced the Stock Market Today
In the latest market close, NRG Energy (NRG - Free Report) reached $74.33, with a +0.84% movement compared to the previous day. The stock exceeded the S&P 500, which registered a gain of 0.08% for the day. Elsewhere, the Dow lost 0.12%, while the tech-heavy Nasdaq added 0.07%.
Prior to today's trading, shares of the power company had lost 5.33% over the past month. This has lagged the Utilities sector's gain of 1.92% and the S&P 500's loss of 0.21% in that time.
The investment community will be closely monitoring the performance of NRG Energy in its forthcoming earnings report. The company is scheduled to release its earnings on August 8, 2024. The company is forecasted to report an EPS of $1.30, showcasing a 18.18% upward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $4.48 billion, showing a 29.4% drop compared to the year-ago quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $6.61 per share and revenue of $25.28 billion, indicating changes of +53.01% and -12.31%, respectively, compared to the previous year.
Investors should also note any recent changes to analyst estimates for NRG Energy. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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.
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 past month, there's been a 0.67% fall in the Zacks Consensus EPS estimate. Right now, NRG Energy possesses a Zacks Rank of #3 (Hold).
Investors should also note NRG Energy's current valuation metrics, including its Forward P/E ratio of 11.15. This expresses a discount compared to the average Forward P/E of 15.96 of its industry.
The Utility - Electric Power industry is part of the Utilities sector. At present, this industry carries a Zacks Industry Rank of 55, placing it within the top 22% of over 250 industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.