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NextEra Energy (NEE) Sees a More Significant Dip Than Broader Market: Some Facts to Know
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NextEra Energy (NEE - Free Report) ended the recent trading session at $53.24, demonstrating a -1.72% swing from the preceding day's closing price. This change lagged the S&P 500's daily loss of 1.34%. Meanwhile, the Dow lost 0.98%, and the Nasdaq, a tech-heavy index, lost 1.62%.
Prior to today's trading, shares of the parent company of Florida Power & Light Co. Had lost 19.86% over the past month. This has lagged the Utilities sector's loss of 10.71% and the S&P 500's loss of 1.57% in that time.
The investment community will be paying close attention to the earnings performance of NextEra Energy in its upcoming release. The company is slated to reveal its earnings on October 24, 2023. The company's earnings per share (EPS) are projected to be $0.89, reflecting a 4.71% increase from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $7.41 billion, up 10.36% from the prior-year quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $3.11 per share and a revenue of $27.63 billion, signifying shifts of +7.24% and +31.83%, respectively, from the last year.
Investors might also notice recent changes to analyst estimates for NextEra Energy. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
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. The Zacks Consensus EPS estimate has moved 0.05% lower within the past month. NextEra Energy currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that NextEra Energy has a Forward P/E ratio of 17.4 right now. This indicates a premium in contrast to its industry's Forward P/E of 14.88.
One should further note that NEE currently holds a PEG ratio of 2.19. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As the market closed yesterday, the Utility - Electric Power industry was having an average PEG ratio of 2.71.
The Utility - Electric Power industry is part of the Utilities sector. Currently, this industry holds a Zacks Industry Rank of 67, positioning it in the top 27% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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NextEra Energy (NEE) Sees a More Significant Dip Than Broader Market: Some Facts to Know
NextEra Energy (NEE - Free Report) ended the recent trading session at $53.24, demonstrating a -1.72% swing from the preceding day's closing price. This change lagged the S&P 500's daily loss of 1.34%. Meanwhile, the Dow lost 0.98%, and the Nasdaq, a tech-heavy index, lost 1.62%.
Prior to today's trading, shares of the parent company of Florida Power & Light Co. Had lost 19.86% over the past month. This has lagged the Utilities sector's loss of 10.71% and the S&P 500's loss of 1.57% in that time.
The investment community will be paying close attention to the earnings performance of NextEra Energy in its upcoming release. The company is slated to reveal its earnings on October 24, 2023. The company's earnings per share (EPS) are projected to be $0.89, reflecting a 4.71% increase from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $7.41 billion, up 10.36% from the prior-year quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $3.11 per share and a revenue of $27.63 billion, signifying shifts of +7.24% and +31.83%, respectively, from the last year.
Investors might also notice recent changes to analyst estimates for NextEra Energy. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
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. The Zacks Consensus EPS estimate has moved 0.05% lower within the past month. NextEra Energy currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that NextEra Energy has a Forward P/E ratio of 17.4 right now. This indicates a premium in contrast to its industry's Forward P/E of 14.88.
One should further note that NEE currently holds a PEG ratio of 2.19. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As the market closed yesterday, the Utility - Electric Power industry was having an average PEG ratio of 2.71.
The Utility - Electric Power industry is part of the Utilities sector. Currently, this industry holds a Zacks Industry Rank of 67, positioning it in the top 27% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.