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NextEra Energy (NEE) Gains As Market Dips: What You Should Know
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NextEra Energy (NEE - Free Report) closed the most recent trading day at $76.74, moving +0.01% from the previous trading session. This change outpaced the S&P 500's 0.75% loss on the day. Elsewhere, the Dow lost 0.32%, while the tech-heavy Nasdaq lost 0.1%.
Coming into today, shares of the parent company of Florida Power & Light Co. Had lost 14.65% in the past month. In that same time, the Utilities sector lost 15.22%, while the S&P 500 lost 8.4%.
NextEra Energy will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.77, up 2.67% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $6.28 billion, up 43.72% from the year-ago period.
NEE's full-year Zacks Consensus Estimates are calling for earnings of $2.89 per share and revenue of $20.2 billion. These results would represent year-over-year changes of +13.33% and +18.34%, respectively.
It is also important to note the recent changes to analyst estimates for NextEra Energy. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
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. Within the past 30 days, our consensus EPS projection remained stagnant. NextEra Energy is currently sporting a Zacks Rank of #2 (Buy).
Looking at its valuation, NextEra Energy is holding a Forward P/E ratio of 26.57. For comparison, its industry has an average Forward P/E of 16.02, which means NextEra Energy is trading at a premium to the group.
It is also worth noting that NEE currently has a PEG ratio of 2.75. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Utility - Electric Power industry currently had an average PEG ratio of 2.75 as of yesterday's close.
The Utility - Electric Power industry is part of the Utilities sector. This industry currently has a Zacks Industry Rank of 82, which puts it in the top 33% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks 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 NEE in the coming trading sessions, be sure to utilize Zacks.com.
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NextEra Energy (NEE) Gains As Market Dips: What You Should Know
NextEra Energy (NEE - Free Report) closed the most recent trading day at $76.74, moving +0.01% from the previous trading session. This change outpaced the S&P 500's 0.75% loss on the day. Elsewhere, the Dow lost 0.32%, while the tech-heavy Nasdaq lost 0.1%.
Coming into today, shares of the parent company of Florida Power & Light Co. Had lost 14.65% in the past month. In that same time, the Utilities sector lost 15.22%, while the S&P 500 lost 8.4%.
NextEra Energy will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.77, up 2.67% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $6.28 billion, up 43.72% from the year-ago period.
NEE's full-year Zacks Consensus Estimates are calling for earnings of $2.89 per share and revenue of $20.2 billion. These results would represent year-over-year changes of +13.33% and +18.34%, respectively.
It is also important to note the recent changes to analyst estimates for NextEra Energy. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
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. Within the past 30 days, our consensus EPS projection remained stagnant. NextEra Energy is currently sporting a Zacks Rank of #2 (Buy).
Looking at its valuation, NextEra Energy is holding a Forward P/E ratio of 26.57. For comparison, its industry has an average Forward P/E of 16.02, which means NextEra Energy is trading at a premium to the group.
It is also worth noting that NEE currently has a PEG ratio of 2.75. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Utility - Electric Power industry currently had an average PEG ratio of 2.75 as of yesterday's close.
The Utility - Electric Power industry is part of the Utilities sector. This industry currently has a Zacks Industry Rank of 82, which puts it in the top 33% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks 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 NEE in the coming trading sessions, be sure to utilize Zacks.com.