We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Nextracker (NXT) Laps the Stock Market: Here's Why
Read MoreHide Full Article
In the latest close session, Nextracker (NXT - Free Report) was up +1.65% at $58.51. The stock outperformed the S&P 500, which registered a daily gain of 0.8%. Meanwhile, the Dow gained 0.94%, and the Nasdaq, a tech-heavy index, added 0.97%.
Shares of the solar energy equipment supplier witnessed a gain of 3.51% over the previous month, trailing the performance of the Oils-Energy sector with its gain of 3.8%, and the S&P 500's gain of 5.12%.
Market participants will be closely following the financial results of Nextracker in its upcoming release. On that day, Nextracker is projected to report earnings of $1.03 per share, which would represent year-over-year growth of 10.75%. At the same time, our most recent consensus estimate is projecting a revenue of $867.15 million, reflecting a 20.45% rise from the equivalent quarter last year.
NXT's full-year Zacks Consensus Estimates are calling for earnings of $3.87 per share and revenue of $3.33 billion. These results would represent year-over-year changes of -8.29% and +12.56%, respectively.
Any recent changes to analyst estimates for Nextracker should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.31% higher. Right now, Nextracker possesses a Zacks Rank of #3 (Hold).
In terms of valuation, Nextracker is presently being traded at a Forward P/E ratio of 14.89. This indicates no noticeable deviation in contrast to its industry's Forward P/E of 14.89.
Also, we should mention that NXT has a PEG ratio of 1.25. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. As the market closed yesterday, the Solar industry was having an average PEG ratio of 0.52.
The Solar industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 147, placing it within the bottom 41% 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Nextracker (NXT) Laps the Stock Market: Here's Why
In the latest close session, Nextracker (NXT - Free Report) was up +1.65% at $58.51. The stock outperformed the S&P 500, which registered a daily gain of 0.8%. Meanwhile, the Dow gained 0.94%, and the Nasdaq, a tech-heavy index, added 0.97%.
Shares of the solar energy equipment supplier witnessed a gain of 3.51% over the previous month, trailing the performance of the Oils-Energy sector with its gain of 3.8%, and the S&P 500's gain of 5.12%.
Market participants will be closely following the financial results of Nextracker in its upcoming release. On that day, Nextracker is projected to report earnings of $1.03 per share, which would represent year-over-year growth of 10.75%. At the same time, our most recent consensus estimate is projecting a revenue of $867.15 million, reflecting a 20.45% rise from the equivalent quarter last year.
NXT's full-year Zacks Consensus Estimates are calling for earnings of $3.87 per share and revenue of $3.33 billion. These results would represent year-over-year changes of -8.29% and +12.56%, respectively.
Any recent changes to analyst estimates for Nextracker should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.31% higher. Right now, Nextracker possesses a Zacks Rank of #3 (Hold).
In terms of valuation, Nextracker is presently being traded at a Forward P/E ratio of 14.89. This indicates no noticeable deviation in contrast to its industry's Forward P/E of 14.89.
Also, we should mention that NXT has a PEG ratio of 1.25. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. As the market closed yesterday, the Solar industry was having an average PEG ratio of 0.52.
The Solar industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 147, placing it within the bottom 41% 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.