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NextEra Energy (NEE) Ascends But Remains Behind Market: Some Facts to Note
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NextEra Energy (NEE - Free Report) closed the most recent trading day at $84.29, moving +1.12% from the previous trading session. The stock trailed the S&P 500, which registered a daily gain of 1.56%. Meanwhile, the Dow experienced a rise of 1.29%, and the technology-dominated Nasdaq saw an increase of 2.21%.
The parent company of Florida Power & Light Co.'s stock has climbed by 16.35% in the past month, exceeding the Utilities sector's gain of 1.93% and the S&P 500's gain of 0.41%.
The investment community will be closely monitoring the performance of NextEra Energy in its forthcoming earnings report. It is anticipated that the company will report an EPS of $1.04, marking a 0.97% rise compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $8.16 billion, up 7.88% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $3.68 per share and revenue of $28.02 billion, indicating changes of +7.29% and +13.22%, respectively, compared to the previous year.
It is also important to note the recent changes to analyst estimates for NextEra Energy. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.04% downward. Right now, NextEra Energy possesses a Zacks Rank of #3 (Hold).
Looking at valuation, NextEra Energy is presently trading at a Forward P/E ratio of 22.67. This indicates a premium in contrast to its industry's Forward P/E of 19.05.
It is also worth noting that NEE currently has a PEG ratio of 2.82. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As of the close of trade yesterday, the Utility - Electric Power industry held an average PEG ratio of 2.8.
The Utility - Electric Power industry is part of the Utilities sector. Currently, this industry holds a Zacks Industry Rank of 61, positioning it in the top 25% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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NextEra Energy (NEE) Ascends But Remains Behind Market: Some Facts to Note
NextEra Energy (NEE - Free Report) closed the most recent trading day at $84.29, moving +1.12% from the previous trading session. The stock trailed the S&P 500, which registered a daily gain of 1.56%. Meanwhile, the Dow experienced a rise of 1.29%, and the technology-dominated Nasdaq saw an increase of 2.21%.
The parent company of Florida Power & Light Co.'s stock has climbed by 16.35% in the past month, exceeding the Utilities sector's gain of 1.93% and the S&P 500's gain of 0.41%.
The investment community will be closely monitoring the performance of NextEra Energy in its forthcoming earnings report. It is anticipated that the company will report an EPS of $1.04, marking a 0.97% rise compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $8.16 billion, up 7.88% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $3.68 per share and revenue of $28.02 billion, indicating changes of +7.29% and +13.22%, respectively, compared to the previous year.
It is also important to note the recent changes to analyst estimates for NextEra Energy. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.04% downward. Right now, NextEra Energy possesses a Zacks Rank of #3 (Hold).
Looking at valuation, NextEra Energy is presently trading at a Forward P/E ratio of 22.67. This indicates a premium in contrast to its industry's Forward P/E of 19.05.
It is also worth noting that NEE currently has a PEG ratio of 2.82. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As of the close of trade yesterday, the Utility - Electric Power industry held an average PEG ratio of 2.8.
The Utility - Electric Power industry is part of the Utilities sector. Currently, this industry holds a Zacks Industry Rank of 61, positioning it in the top 25% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.