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NextEra Energy (NEE) Falls More Steeply Than Broader Market: What Investors Need to Know
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The latest trading session saw NextEra Energy (NEE - Free Report) ending at $83.78, denoting a -0.72% adjustment from its last day's close. The stock's change was less than the S&P 500's daily loss of 0.02%. Elsewhere, the Dow gained 0.38%, while the tech-heavy Nasdaq added 0.04%.
The parent company of Florida Power & Light Co.'s shares have seen an increase of 0.13% over the last month, surpassing the Utilities sector's loss of 0.69% and falling behind the S&P 500's gain of 3.77%.
Analysts and investors alike will be keeping a close eye on the performance of NextEra Energy in its upcoming earnings disclosure. The company's earnings report is set to go public on October 23, 2024. The company is forecasted to report an EPS of $1.01, showcasing a 7.45% upward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $8.17 billion, indicating a 13.88% increase compared to the same quarter of the previous year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $3.40 per share and revenue of $27.68 billion, indicating changes of +7.26% and -1.55%, respectively, compared to the previous year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for NextEra Energy. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.06% higher. NextEra Energy is holding a Zacks Rank of #3 (Hold) right now.
Looking at valuation, NextEra Energy is presently trading at a Forward P/E ratio of 24.86. This signifies a premium in comparison to the average Forward P/E of 17.8 for its industry.
It is also worth noting that NEE currently has a PEG ratio of 3.06. 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. Utility - Electric Power stocks are, on average, holding a PEG ratio of 2.8 based on yesterday's closing prices.
The Utility - Electric Power industry is part of the Utilities sector. Currently, this industry holds a Zacks Industry Rank of 58, positioning it in the top 24% 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) Falls More Steeply Than Broader Market: What Investors Need to Know
The latest trading session saw NextEra Energy (NEE - Free Report) ending at $83.78, denoting a -0.72% adjustment from its last day's close. The stock's change was less than the S&P 500's daily loss of 0.02%. Elsewhere, the Dow gained 0.38%, while the tech-heavy Nasdaq added 0.04%.
The parent company of Florida Power & Light Co.'s shares have seen an increase of 0.13% over the last month, surpassing the Utilities sector's loss of 0.69% and falling behind the S&P 500's gain of 3.77%.
Analysts and investors alike will be keeping a close eye on the performance of NextEra Energy in its upcoming earnings disclosure. The company's earnings report is set to go public on October 23, 2024. The company is forecasted to report an EPS of $1.01, showcasing a 7.45% upward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $8.17 billion, indicating a 13.88% increase compared to the same quarter of the previous year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $3.40 per share and revenue of $27.68 billion, indicating changes of +7.26% and -1.55%, respectively, compared to the previous year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for NextEra Energy. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.06% higher. NextEra Energy is holding a Zacks Rank of #3 (Hold) right now.
Looking at valuation, NextEra Energy is presently trading at a Forward P/E ratio of 24.86. This signifies a premium in comparison to the average Forward P/E of 17.8 for its industry.
It is also worth noting that NEE currently has a PEG ratio of 3.06. 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. Utility - Electric Power stocks are, on average, holding a PEG ratio of 2.8 based on yesterday's closing prices.
The Utility - Electric Power industry is part of the Utilities sector. Currently, this industry holds a Zacks Industry Rank of 58, positioning it in the top 24% 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.