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Nextracker (NXT) Stock Declines While Market Improves: Some Information for Investors
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In the latest trading session, Nextracker (NXT - Free Report) closed at $46.02, marking a -1.86% move from the previous day. This move lagged the S&P 500's daily gain of 0.13%. At the same time, the Dow added 0.08%, and the tech-heavy Nasdaq lost 0.1%.
The the stock of solar energy equipment supplier has fallen by 8.04% in the past month, lagging the Oils-Energy sector's loss of 3.47% and the S&P 500's loss of 0.35%.
Analysts and investors alike will be keeping a close eye on the performance of Nextracker in its upcoming earnings disclosure. The company's earnings report is set to go public on May 14, 2024. The company's upcoming EPS is projected at $0.59, signifying a 180.95% increase compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $681.03 million, indicating a 31.37% increase compared to the same quarter of the previous year.
It is also important to note the recent changes to analyst estimates for Nextracker. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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. Within the past 30 days, our consensus EPS projection has moved 3.18% lower. Currently, Nextracker is carrying a Zacks Rank of #3 (Hold).
Looking at its valuation, Nextracker is holding a Forward P/E ratio of 14.67. This signifies a premium in comparison to the average Forward P/E of 13.54 for its industry.
It's also important to note that NXT currently trades at a PEG ratio of 0.31. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Solar stocks are, on average, holding a PEG ratio of 0.33 based on yesterday's closing prices.
The Solar industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 175, placing it within the bottom 31% of over 250 industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Nextracker (NXT) Stock Declines While Market Improves: Some Information for Investors
In the latest trading session, Nextracker (NXT - Free Report) closed at $46.02, marking a -1.86% move from the previous day. This move lagged the S&P 500's daily gain of 0.13%. At the same time, the Dow added 0.08%, and the tech-heavy Nasdaq lost 0.1%.
The the stock of solar energy equipment supplier has fallen by 8.04% in the past month, lagging the Oils-Energy sector's loss of 3.47% and the S&P 500's loss of 0.35%.
Analysts and investors alike will be keeping a close eye on the performance of Nextracker in its upcoming earnings disclosure. The company's earnings report is set to go public on May 14, 2024. The company's upcoming EPS is projected at $0.59, signifying a 180.95% increase compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $681.03 million, indicating a 31.37% increase compared to the same quarter of the previous year.
It is also important to note the recent changes to analyst estimates for Nextracker. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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. Within the past 30 days, our consensus EPS projection has moved 3.18% lower. Currently, Nextracker is carrying a Zacks Rank of #3 (Hold).
Looking at its valuation, Nextracker is holding a Forward P/E ratio of 14.67. This signifies a premium in comparison to the average Forward P/E of 13.54 for its industry.
It's also important to note that NXT currently trades at a PEG ratio of 0.31. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Solar stocks are, on average, holding a PEG ratio of 0.33 based on yesterday's closing prices.
The Solar industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 175, placing it within the bottom 31% of over 250 industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.