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Nextracker (NXT) Rises But Trails Market: What Investors Should Know
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The latest trading session saw Nextracker (NXT - Free Report) ending at $35.83, denoting a +0.11% adjustment from its last day's close. The stock fell short of the S&P 500, which registered a gain of 0.75% for the day. Elsewhere, the Dow saw an upswing of 0.58%, while the tech-heavy Nasdaq appreciated by 1%.
Shares of the solar energy equipment supplier have depreciated by 6.46% over the course of the past month, underperforming the Oils-Energy sector's loss of 4.12% and the S&P 500's gain of 4.03%.
Analysts and investors alike will be keeping a close eye on the performance of Nextracker in its upcoming earnings disclosure. On that day, Nextracker is projected to report earnings of $0.67 per share, which would represent year-over-year growth of 3.08%. Alongside, our most recent consensus estimate is anticipating revenue of $619.48 million, indicating an 8.04% upward movement from the same quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $3.18 per share and a revenue of $2.85 billion, indicating changes of +3.92% and +13.97%, respectively, from the former year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Nextracker. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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, the Zacks Consensus EPS estimate has remained steady. Right now, Nextracker possesses a Zacks Rank of #4 (Sell).
In the context of valuation, Nextracker is at present trading with a Forward P/E ratio of 11.27. This signifies a discount in comparison to the average Forward P/E of 17.46 for its industry.
Meanwhile, NXT's PEG ratio is currently 4.17. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. NXT's industry had an average PEG ratio of 1.84 as of yesterday's close.
The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 143, which puts it in the bottom 44% of all 250+ industries.
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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Nextracker (NXT) Rises But Trails Market: What Investors Should Know
The latest trading session saw Nextracker (NXT - Free Report) ending at $35.83, denoting a +0.11% adjustment from its last day's close. The stock fell short of the S&P 500, which registered a gain of 0.75% for the day. Elsewhere, the Dow saw an upswing of 0.58%, while the tech-heavy Nasdaq appreciated by 1%.
Shares of the solar energy equipment supplier have depreciated by 6.46% over the course of the past month, underperforming the Oils-Energy sector's loss of 4.12% and the S&P 500's gain of 4.03%.
Analysts and investors alike will be keeping a close eye on the performance of Nextracker in its upcoming earnings disclosure. On that day, Nextracker is projected to report earnings of $0.67 per share, which would represent year-over-year growth of 3.08%. Alongside, our most recent consensus estimate is anticipating revenue of $619.48 million, indicating an 8.04% upward movement from the same quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $3.18 per share and a revenue of $2.85 billion, indicating changes of +3.92% and +13.97%, respectively, from the former year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Nextracker. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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, the Zacks Consensus EPS estimate has remained steady. Right now, Nextracker possesses a Zacks Rank of #4 (Sell).
In the context of valuation, Nextracker is at present trading with a Forward P/E ratio of 11.27. This signifies a discount in comparison to the average Forward P/E of 17.46 for its industry.
Meanwhile, NXT's PEG ratio is currently 4.17. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. NXT's industry had an average PEG ratio of 1.84 as of yesterday's close.
The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 143, which puts it in the bottom 44% of all 250+ industries.
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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.