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Why Constellation Energy Corporation (CEG) Outpaced the Stock Market Today
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Constellation Energy Corporation (CEG - Free Report) closed at $300.51 in the latest trading session, marking a +2.85% move from the prior day. This change outpaced the S&P 500's 0.38% gain on the day. On the other hand, the Dow registered a gain of 0.24%, and the technology-centric Nasdaq increased by 0.24%.
Prior to today's trading, shares of the company had gained 1.4% lagged the Oils-Energy sector's gain of 6.38% and the S&P 500's gain of 6.6%.
The investment community will be paying close attention to the earnings performance of Constellation Energy Corporation in its upcoming release. The company is predicted to post an EPS of $2.28, indicating a 35.71% growth compared to the equivalent quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $5.05 billion, showing a 7.69% drop compared to the year-ago quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $9.43 per share and revenue of $23.51 billion, indicating changes of +8.77% and -0.27%, respectively, compared to the previous year.
It is also important to note the recent changes to analyst estimates for Constellation Energy Corporation. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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 has shifted 1.27% downward. Constellation Energy Corporation is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Constellation Energy Corporation is holding a Forward P/E ratio of 30.99. This signifies a premium in comparison to the average Forward P/E of 19.8 for its industry.
Meanwhile, CEG's PEG ratio is currently 2.29. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As the market closed yesterday, the Alternative Energy - Other industry was having an average PEG ratio of 2.24.
The Alternative Energy - Other industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 161, placing it within the bottom 35% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow CEG in the coming trading sessions, be sure to utilize Zacks.com.
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Why Constellation Energy Corporation (CEG) Outpaced the Stock Market Today
Constellation Energy Corporation (CEG - Free Report) closed at $300.51 in the latest trading session, marking a +2.85% move from the prior day. This change outpaced the S&P 500's 0.38% gain on the day. On the other hand, the Dow registered a gain of 0.24%, and the technology-centric Nasdaq increased by 0.24%.
Prior to today's trading, shares of the company had gained 1.4% lagged the Oils-Energy sector's gain of 6.38% and the S&P 500's gain of 6.6%.
The investment community will be paying close attention to the earnings performance of Constellation Energy Corporation in its upcoming release. The company is predicted to post an EPS of $2.28, indicating a 35.71% growth compared to the equivalent quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $5.05 billion, showing a 7.69% drop compared to the year-ago quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $9.43 per share and revenue of $23.51 billion, indicating changes of +8.77% and -0.27%, respectively, compared to the previous year.
It is also important to note the recent changes to analyst estimates for Constellation Energy Corporation. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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 has shifted 1.27% downward. Constellation Energy Corporation is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Constellation Energy Corporation is holding a Forward P/E ratio of 30.99. This signifies a premium in comparison to the average Forward P/E of 19.8 for its industry.
Meanwhile, CEG's PEG ratio is currently 2.29. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As the market closed yesterday, the Alternative Energy - Other industry was having an average PEG ratio of 2.24.
The Alternative Energy - Other industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 161, placing it within the bottom 35% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow CEG in the coming trading sessions, be sure to utilize Zacks.com.