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Nextracker (NXT) Gains But Lags Market: What You Should Know
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Nextracker (NXT - Free Report) closed the latest trading day at $49.82, indicating a +0.4% change from the previous session's end. This move lagged the S&P 500's daily gain of 0.74%. Meanwhile, the Dow experienced a drop of 0.01%, and the technology-dominated Nasdaq saw an increase of 1.68%.
Shares of the solar energy equipment supplier witnessed a loss of 18.04% over the previous month, trailing the performance of the Oils-Energy sector with its gain of 8.96% and the S&P 500's gain of 0.8%.
Analysts and investors alike will be keeping a close eye on the performance of Nextracker in its upcoming earnings disclosure. The company is expected to report EPS of $0.59, up 180.95% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $678.21 million, up 30.83% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for Nextracker. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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, there's been no change in the Zacks Consensus EPS estimate. At present, Nextracker boasts a Zacks Rank of #1 (Strong Buy).
In the context of valuation, Nextracker is at present trading with a Forward P/E ratio of 15.44. This signifies a premium in comparison to the average Forward P/E of 13.6 for its industry.
We can also see that NXT currently has a PEG ratio of 0.33. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. As the market closed yesterday, the Solar industry was having an average PEG ratio of 0.33.
The Solar industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 98, placing it within the top 39% of over 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Nextracker (NXT) Gains But Lags Market: What You Should Know
Nextracker (NXT - Free Report) closed the latest trading day at $49.82, indicating a +0.4% change from the previous session's end. This move lagged the S&P 500's daily gain of 0.74%. Meanwhile, the Dow experienced a drop of 0.01%, and the technology-dominated Nasdaq saw an increase of 1.68%.
Shares of the solar energy equipment supplier witnessed a loss of 18.04% over the previous month, trailing the performance of the Oils-Energy sector with its gain of 8.96% and the S&P 500's gain of 0.8%.
Analysts and investors alike will be keeping a close eye on the performance of Nextracker in its upcoming earnings disclosure. The company is expected to report EPS of $0.59, up 180.95% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $678.21 million, up 30.83% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for Nextracker. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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, there's been no change in the Zacks Consensus EPS estimate. At present, Nextracker boasts a Zacks Rank of #1 (Strong Buy).
In the context of valuation, Nextracker is at present trading with a Forward P/E ratio of 15.44. This signifies a premium in comparison to the average Forward P/E of 13.6 for its industry.
We can also see that NXT currently has a PEG ratio of 0.33. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. As the market closed yesterday, the Solar industry was having an average PEG ratio of 0.33.
The Solar industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 98, placing it within the top 39% of over 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.