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Why NextEra Energy (NEE) Dipped More Than Broader Market Today
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In the latest trading session, NextEra Energy (NEE - Free Report) closed at $78.37, marking a -3.31% move from the previous day. This change lagged the S&P 500's daily loss of 0.34%. At the same time, the Dow lost 0.94%, and the tech-heavy Nasdaq gained 0.16%.
The parent company of Florida Power & Light Co.'s stock has climbed by 1.77% in the past month, exceeding the Utilities sector's loss of 3.09% and the S&P 500's gain of 1.19%.
Analysts and investors alike will be keeping a close eye on the performance of NextEra Energy in its upcoming earnings disclosure. The company's upcoming EPS is projected at $0.56, signifying a 5.66% increase compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.64 billion, up 23.26% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $3.69 per share and a revenue of $27.75 billion, indicating changes of +7.58% and 0%, respectively, from the former year.
It's also important for investors to be aware of any recent modifications to analyst estimates for NextEra Energy. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been a 0.18% rise in the Zacks Consensus EPS estimate. NextEra Energy currently has a Zacks Rank of #2 (Buy).
Digging into valuation, NextEra Energy currently has a Forward P/E ratio of 20.29. Its industry sports an average Forward P/E of 17.07, so one might conclude that NextEra Energy is trading at a premium comparatively.
We can additionally observe that NEE currently boasts a PEG ratio of 2.51. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. By the end of yesterday's trading, the Utility - Electric Power industry had an average PEG ratio of 2.51.
The Utility - Electric Power industry is part of the Utilities sector. With its current Zacks Industry Rank of 64, this industry ranks in the top 27% 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Why NextEra Energy (NEE) Dipped More Than Broader Market Today
In the latest trading session, NextEra Energy (NEE - Free Report) closed at $78.37, marking a -3.31% move from the previous day. This change lagged the S&P 500's daily loss of 0.34%. At the same time, the Dow lost 0.94%, and the tech-heavy Nasdaq gained 0.16%.
The parent company of Florida Power & Light Co.'s stock has climbed by 1.77% in the past month, exceeding the Utilities sector's loss of 3.09% and the S&P 500's gain of 1.19%.
Analysts and investors alike will be keeping a close eye on the performance of NextEra Energy in its upcoming earnings disclosure. The company's upcoming EPS is projected at $0.56, signifying a 5.66% increase compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.64 billion, up 23.26% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $3.69 per share and a revenue of $27.75 billion, indicating changes of +7.58% and 0%, respectively, from the former year.
It's also important for investors to be aware of any recent modifications to analyst estimates for NextEra Energy. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been a 0.18% rise in the Zacks Consensus EPS estimate. NextEra Energy currently has a Zacks Rank of #2 (Buy).
Digging into valuation, NextEra Energy currently has a Forward P/E ratio of 20.29. Its industry sports an average Forward P/E of 17.07, so one might conclude that NextEra Energy is trading at a premium comparatively.
We can additionally observe that NEE currently boasts a PEG ratio of 2.51. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. By the end of yesterday's trading, the Utility - Electric Power industry had an average PEG ratio of 2.51.
The Utility - Electric Power industry is part of the Utilities sector. With its current Zacks Industry Rank of 64, this industry ranks in the top 27% 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.