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Constellation Energy Corporation (CEG) Surges 12.5%: Is This an Indication of Further Gains?
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Constellation Energy Corporation (CEG - Free Report) shares soared 12.5% in the last trading session to close at $189.80. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 18.2% loss over the past four weeks.
Constellation Energy is the largest owner of nuclear plants in the US and produces clean electricity for its customers. It expects to invest nearly $5.1 billion during 2024-2025 period to strengthen its infrastructure and purchase of nuclear fuel, essential for the operation of nuclear units.
Increasing investment in data centers will create larger data centers and clean electricity demand from these is destined to increase, as AI-based queries need substantially higher power than traditional Internet searches, music and photos. Constellation Energy is poised to benefit from the likely increase in demand for electricity from the data centers.
This company is expected to post quarterly earnings of $1.43 per share in its upcoming report, which represents a year-over-year change of -44.1%. Revenues are expected to be $5.3 billion, down 2.7% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Constellation Energy Corporation, the consensus EPS estimate for the quarter has been revised 3.9% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on CEG going forward to see if this recent jump can turn into more strength down the road.
Constellation Energy Corporation belongs to the Zacks Alternative Energy - Other industry. Another stock from the same industry, Energy Vault Holdings, Inc. (NRGV - Free Report) , closed the last trading session 5.6% lower at $1.02. Over the past month, NRGV has returned 12.1%.
For Energy Vault, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.11. This represents a change of +38.9% from what the company reported a year ago. Energy Vault currently has a Zacks Rank of #3 (Hold).
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Constellation Energy Corporation (CEG) Surges 12.5%: Is This an Indication of Further Gains?
Constellation Energy Corporation (CEG - Free Report) shares soared 12.5% in the last trading session to close at $189.80. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 18.2% loss over the past four weeks.
Constellation Energy is the largest owner of nuclear plants in the US and produces clean electricity for its customers. It expects to invest nearly $5.1 billion during 2024-2025 period to strengthen its infrastructure and purchase of nuclear fuel, essential for the operation of nuclear units.
Increasing investment in data centers will create larger data centers and clean electricity demand from these is destined to increase, as AI-based queries need substantially higher power than traditional Internet searches, music and photos. Constellation Energy is poised to benefit from the likely increase in demand for electricity from the data centers.
This company is expected to post quarterly earnings of $1.43 per share in its upcoming report, which represents a year-over-year change of -44.1%. Revenues are expected to be $5.3 billion, down 2.7% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Constellation Energy Corporation, the consensus EPS estimate for the quarter has been revised 3.9% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on CEG going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Constellation Energy Corporation belongs to the Zacks Alternative Energy - Other industry. Another stock from the same industry, Energy Vault Holdings, Inc. (NRGV - Free Report) , closed the last trading session 5.6% lower at $1.02. Over the past month, NRGV has returned 12.1%.
For Energy Vault, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.11. This represents a change of +38.9% from what the company reported a year ago. Energy Vault currently has a Zacks Rank of #3 (Hold).