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NRG Energy (NRG) Declines More Than Market: Some Information for Investors
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The latest trading session saw NRG Energy (NRG - Free Report) ending at $73.33, denoting a -1.35% adjustment from its last day's close. This move lagged the S&P 500's daily loss of 0.5%. Elsewhere, the Dow saw an upswing of 0.5%, while the tech-heavy Nasdaq depreciated by 1.28%.
The power company's stock has dropped by 4.52% in the past month, falling short of the Utilities sector's gain of 2.98% and the S&P 500's gain of 0.1%.
Analysts and investors alike will be keeping a close eye on the performance of NRG Energy in its upcoming earnings disclosure. The company's earnings report is set to go public on August 8, 2024. The company is expected to report EPS of $1.30, up 18.18% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $4.48 billion, indicating a 29.4% decline compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of $6.61 per share and a revenue of $25.28 billion, demonstrating changes of +53.01% and -12.31%, respectively, from the preceding year.
It's also important for investors to be aware of any recent modifications to analyst estimates for NRG Energy. These recent revisions tend to reflect the evolving nature of short-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 exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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 a 0.67% fall in the Zacks Consensus EPS estimate. NRG Energy presently features a Zacks Rank of #4 (Sell).
From a valuation perspective, NRG Energy is currently exchanging hands at a Forward P/E ratio of 11.24. This valuation marks a discount compared to its industry's average Forward P/E of 15.94.
The Utility - Electric Power industry is part of the Utilities sector. This industry, currently bearing a Zacks Industry Rank of 71, finds itself in the top 29% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow NRG in the coming trading sessions, be sure to utilize Zacks.com.
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NRG Energy (NRG) Declines More Than Market: Some Information for Investors
The latest trading session saw NRG Energy (NRG - Free Report) ending at $73.33, denoting a -1.35% adjustment from its last day's close. This move lagged the S&P 500's daily loss of 0.5%. Elsewhere, the Dow saw an upswing of 0.5%, while the tech-heavy Nasdaq depreciated by 1.28%.
The power company's stock has dropped by 4.52% in the past month, falling short of the Utilities sector's gain of 2.98% and the S&P 500's gain of 0.1%.
Analysts and investors alike will be keeping a close eye on the performance of NRG Energy in its upcoming earnings disclosure. The company's earnings report is set to go public on August 8, 2024. The company is expected to report EPS of $1.30, up 18.18% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $4.48 billion, indicating a 29.4% decline compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of $6.61 per share and a revenue of $25.28 billion, demonstrating changes of +53.01% and -12.31%, respectively, from the preceding year.
It's also important for investors to be aware of any recent modifications to analyst estimates for NRG Energy. These recent revisions tend to reflect the evolving nature of short-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 exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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 a 0.67% fall in the Zacks Consensus EPS estimate. NRG Energy presently features a Zacks Rank of #4 (Sell).
From a valuation perspective, NRG Energy is currently exchanging hands at a Forward P/E ratio of 11.24. This valuation marks a discount compared to its industry's average Forward P/E of 15.94.
The Utility - Electric Power industry is part of the Utilities sector. This industry, currently bearing a Zacks Industry Rank of 71, finds itself in the top 29% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow NRG in the coming trading sessions, be sure to utilize Zacks.com.