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NextEra Energy (NEE) Outperforms Broader Market: What You Need to Know
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NextEra Energy (NEE - Free Report) closed at $80.06 in the latest trading session, marking a +2.4% move from the prior day. The stock's performance was ahead of the S&P 500's daily gain of 0.01%. At the same time, the Dow added 0.51%, and the tech-heavy Nasdaq lost 0.28%.
The parent company of Florida Power & Light Co.'s shares have seen an increase of 10.31% over the last month, surpassing the Utilities sector's gain of 3.65% and the S&P 500's gain of 4.83%.
Market participants will be closely following the financial results of NextEra Energy in its upcoming release. The company's earnings per share (EPS) are projected to be $1.04, reflecting a 0.97% increase from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $8.16 billion, indicating a 7.88% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of $3.68 per share and a revenue of $28.64 billion, demonstrating changes of +7.29% and +15.72%, respectively, from the preceding year.
Investors should also take note of any recent adjustments to analyst estimates for NextEra Energy. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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. Within the past 30 days, our consensus EPS projection remained stagnant. At present, NextEra Energy boasts a Zacks Rank of #3 (Hold).
In the context of valuation, NextEra Energy is at present trading with a Forward P/E ratio of 21.25. This represents a premium compared to its industry average Forward P/E of 18.82.
It is also worth noting that NEE currently has a PEG ratio of 2.69. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The average PEG ratio for the Utility - Electric Power industry stood at 2.77 at the close of the market yesterday.
The Utility - Electric Power industry is part of the Utilities sector. This industry currently has a Zacks Industry Rank of 85, which puts it in the top 35% of all 250+ industries.
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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NextEra Energy (NEE) Outperforms Broader Market: What You Need to Know
NextEra Energy (NEE - Free Report) closed at $80.06 in the latest trading session, marking a +2.4% move from the prior day. The stock's performance was ahead of the S&P 500's daily gain of 0.01%. At the same time, the Dow added 0.51%, and the tech-heavy Nasdaq lost 0.28%.
The parent company of Florida Power & Light Co.'s shares have seen an increase of 10.31% over the last month, surpassing the Utilities sector's gain of 3.65% and the S&P 500's gain of 4.83%.
Market participants will be closely following the financial results of NextEra Energy in its upcoming release. The company's earnings per share (EPS) are projected to be $1.04, reflecting a 0.97% increase from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $8.16 billion, indicating a 7.88% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of $3.68 per share and a revenue of $28.64 billion, demonstrating changes of +7.29% and +15.72%, respectively, from the preceding year.
Investors should also take note of any recent adjustments to analyst estimates for NextEra Energy. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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. Within the past 30 days, our consensus EPS projection remained stagnant. At present, NextEra Energy boasts a Zacks Rank of #3 (Hold).
In the context of valuation, NextEra Energy is at present trading with a Forward P/E ratio of 21.25. This represents a premium compared to its industry average Forward P/E of 18.82.
It is also worth noting that NEE currently has a PEG ratio of 2.69. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The average PEG ratio for the Utility - Electric Power industry stood at 2.77 at the close of the market yesterday.
The Utility - Electric Power industry is part of the Utilities sector. This industry currently has a Zacks Industry Rank of 85, which puts it in the top 35% of all 250+ industries.
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.