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NextEra Energy (NEE) Dips More Than Broader Markets: What You Should Know
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NextEra Energy (NEE - Free Report) closed at $73.64 in the latest trading session, marking a -1.89% move from the prior day. This change lagged the S&P 500's 0.67% loss on the day. At the same time, the Dow lost 0.33%, and the tech-heavy Nasdaq lost 0.25%.
Coming into today, shares of the parent company of Florida Power & Light Co. Had lost 12.41% in the past month. In that same time, the Utilities sector lost 11.19%, while the S&P 500 lost 3.76%.
NextEra Energy will be looking to display strength as it nears its next earnings release, which is expected to be October 28, 2022. The company is expected to report EPS of $0.79, up 5.33% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.34 billion, up 45% from the year-ago period.
NEE's full-year Zacks Consensus Estimates are calling for earnings of $2.89 per share and revenue of $20.21 billion. These results would represent year-over-year changes of +13.33% and +18.4%, respectively.
Investors might also notice recent changes to analyst estimates for NextEra Energy. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. NextEra Energy is holding a Zacks Rank of #2 (Buy) right now.
Digging into valuation, NextEra Energy currently has a Forward P/E ratio of 25.99. For comparison, its industry has an average Forward P/E of 16.43, which means NextEra Energy is trading at a premium to the group.
Meanwhile, NEE's PEG ratio is currently 2.69. 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 2.91 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 83, 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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NextEra Energy (NEE) Dips More Than Broader Markets: What You Should Know
NextEra Energy (NEE - Free Report) closed at $73.64 in the latest trading session, marking a -1.89% move from the prior day. This change lagged the S&P 500's 0.67% loss on the day. At the same time, the Dow lost 0.33%, and the tech-heavy Nasdaq lost 0.25%.
Coming into today, shares of the parent company of Florida Power & Light Co. Had lost 12.41% in the past month. In that same time, the Utilities sector lost 11.19%, while the S&P 500 lost 3.76%.
NextEra Energy will be looking to display strength as it nears its next earnings release, which is expected to be October 28, 2022. The company is expected to report EPS of $0.79, up 5.33% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.34 billion, up 45% from the year-ago period.
NEE's full-year Zacks Consensus Estimates are calling for earnings of $2.89 per share and revenue of $20.21 billion. These results would represent year-over-year changes of +13.33% and +18.4%, respectively.
Investors might also notice recent changes to analyst estimates for NextEra Energy. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. NextEra Energy is holding a Zacks Rank of #2 (Buy) right now.
Digging into valuation, NextEra Energy currently has a Forward P/E ratio of 25.99. For comparison, its industry has an average Forward P/E of 16.43, which means NextEra Energy is trading at a premium to the group.
Meanwhile, NEE's PEG ratio is currently 2.69. 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 2.91 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 83, 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.