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) Stock Slides as Market Rises: Facts to Know Before You Trade
Read MoreHide Full Article
Nextracker (NXT - Free Report) closed the most recent trading day at $89.60, moving -3.43% from the previous trading session. This change lagged the S&P 500's 0.64% gain on the day. Meanwhile, the Dow gained 1.23%, and the Nasdaq, a tech-heavy index, added 0.69%.
Shares of the solar energy equipment supplier witnessed a gain of 2.42% over the previous month, beating the performance of the Oils-Energy sector with its gain of 1.8%, and the S&P 500's gain of 0.55%.
Analysts and investors alike will be keeping a close eye on the performance of Nextracker in its upcoming earnings disclosure. In that report, analysts expect Nextracker to post earnings of $0.93 per share. This would mark a year-over-year decline of 9.71%. At the same time, our most recent consensus estimate is projecting a revenue of $808.49 million, reflecting a 19.01% rise from the equivalent quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $4.15 per share and a revenue of $3.39 billion, representing changes of -1.66% and +14.63%, respectively, from the prior year.
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. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Nextracker presently features a Zacks Rank of #3 (Hold).
Digging into valuation, Nextracker currently has a Forward P/E ratio of 22.35. This signifies a premium in comparison to the average Forward P/E of 16.47 for its industry.
Investors should also note that NXT has a PEG ratio of 2.72 right now. 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. By the end of yesterday's trading, the Solar industry had an average PEG ratio of 0.61.
The Solar industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 45, this industry ranks in the top 19% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Nextracker (NXT) Stock Slides as Market Rises: Facts to Know Before You Trade
Nextracker (NXT - Free Report) closed the most recent trading day at $89.60, moving -3.43% from the previous trading session. This change lagged the S&P 500's 0.64% gain on the day. Meanwhile, the Dow gained 1.23%, and the Nasdaq, a tech-heavy index, added 0.69%.
Shares of the solar energy equipment supplier witnessed a gain of 2.42% over the previous month, beating the performance of the Oils-Energy sector with its gain of 1.8%, and the S&P 500's gain of 0.55%.
Analysts and investors alike will be keeping a close eye on the performance of Nextracker in its upcoming earnings disclosure. In that report, analysts expect Nextracker to post earnings of $0.93 per share. This would mark a year-over-year decline of 9.71%. At the same time, our most recent consensus estimate is projecting a revenue of $808.49 million, reflecting a 19.01% rise from the equivalent quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $4.15 per share and a revenue of $3.39 billion, representing changes of -1.66% and +14.63%, respectively, from the prior year.
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. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Nextracker presently features a Zacks Rank of #3 (Hold).
Digging into valuation, Nextracker currently has a Forward P/E ratio of 22.35. This signifies a premium in comparison to the average Forward P/E of 16.47 for its industry.
Investors should also note that NXT has a PEG ratio of 2.72 right now. 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. By the end of yesterday's trading, the Solar industry had an average PEG ratio of 0.61.
The Solar industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 45, this industry ranks in the top 19% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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.