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Nextracker (NXT) Declines More Than Market: Some Information for Investors
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Nextracker (NXT - Free Report) closed the most recent trading day at $44.54, moving -0.49% from the previous trading session. The stock's change was less than the S&P 500's daily loss of 0.22%. Meanwhile, the Dow gained 0.06%, and the Nasdaq, a tech-heavy index, lost 0.52%.
The solar energy equipment supplier's shares have seen a decrease of 22.27% over the last month, not keeping up with the Oils-Energy sector's gain of 3.38% and the S&P 500's loss of 1.66%.
Investors will be eagerly watching for the performance of Nextracker in its upcoming earnings disclosure. The company is expected to report EPS of $0.60, up 185.71% from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $681.78 million, indicating a 31.52% increase compared to the same quarter of the previous year.
Investors should also note any recent changes to analyst estimates for Nextracker. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Nextracker presently features a Zacks Rank of #1 (Strong Buy).
With respect to valuation, Nextracker is currently being traded at a Forward P/E ratio of 13.85. This signifies a premium in comparison to the average Forward P/E of 11.84 for its industry.
We can also see that NXT currently has a PEG ratio of 0.3. 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. The Solar was holding an average PEG ratio of 0.31 at yesterday's closing price.
The Solar industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 156, this industry ranks in the bottom 39% of all industries, numbering over 250.
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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Nextracker (NXT) Declines More Than Market: Some Information for Investors
Nextracker (NXT - Free Report) closed the most recent trading day at $44.54, moving -0.49% from the previous trading session. The stock's change was less than the S&P 500's daily loss of 0.22%. Meanwhile, the Dow gained 0.06%, and the Nasdaq, a tech-heavy index, lost 0.52%.
The solar energy equipment supplier's shares have seen a decrease of 22.27% over the last month, not keeping up with the Oils-Energy sector's gain of 3.38% and the S&P 500's loss of 1.66%.
Investors will be eagerly watching for the performance of Nextracker in its upcoming earnings disclosure. The company is expected to report EPS of $0.60, up 185.71% from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $681.78 million, indicating a 31.52% increase compared to the same quarter of the previous year.
Investors should also note any recent changes to analyst estimates for Nextracker. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Nextracker presently features a Zacks Rank of #1 (Strong Buy).
With respect to valuation, Nextracker is currently being traded at a Forward P/E ratio of 13.85. This signifies a premium in comparison to the average Forward P/E of 11.84 for its industry.
We can also see that NXT currently has a PEG ratio of 0.3. 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. The Solar was holding an average PEG ratio of 0.31 at yesterday's closing price.
The Solar industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 156, this industry ranks in the bottom 39% of all industries, numbering over 250.
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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.