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Nextracker (NXT) Stock Slides as Market Rises: Facts to Know Before You Trade
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Nextracker (NXT - Free Report) closed the most recent trading day at $113.12, moving -6.03% from the previous trading session. The stock's performance was behind the S&P 500's daily gain of 0.11%. On the other hand, the Dow registered a loss of 0.13%, and the technology-centric Nasdaq increased by 0.18%.
Heading into today, shares of the solar energy equipment supplier had gained 15.88% over the past month, outpacing the Oils-Energy sector's gain of 6.63% and the S&P 500's loss of 4.28%.
The upcoming earnings release of Nextracker will be of great interest to investors. In that report, analysts expect Nextracker to post earnings of $0.9 per share. This would mark a year-over-year decline of 30.23%. Our most recent consensus estimate is calling for quarterly revenue of $805.16 million, down 12.89% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $4.34 per share and a revenue of $3.51 billion, indicating changes of +2.84% and +18.53%, respectively, from the former year.
Investors should also take note of any recent adjustments to analyst estimates for Nextracker. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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, 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 past month, the Zacks Consensus EPS estimate has shifted 0.63% upward. Right now, Nextracker possesses a Zacks Rank of #2 (Buy).
From a valuation perspective, Nextracker is currently exchanging hands at a Forward P/E ratio of 25.56. This expresses a premium compared to the average Forward P/E of 17.34 of its industry.
It is also worth noting that NXT currently has a PEG ratio of 2.25. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Solar was holding an average PEG ratio of 0.68 at yesterday's closing price.
The Solar industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 181, finds itself in the bottom 26% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Nextracker (NXT) Stock Slides as Market Rises: Facts to Know Before You Trade
Nextracker (NXT - Free Report) closed the most recent trading day at $113.12, moving -6.03% from the previous trading session. The stock's performance was behind the S&P 500's daily gain of 0.11%. On the other hand, the Dow registered a loss of 0.13%, and the technology-centric Nasdaq increased by 0.18%.
Heading into today, shares of the solar energy equipment supplier had gained 15.88% over the past month, outpacing the Oils-Energy sector's gain of 6.63% and the S&P 500's loss of 4.28%.
The upcoming earnings release of Nextracker will be of great interest to investors. In that report, analysts expect Nextracker to post earnings of $0.9 per share. This would mark a year-over-year decline of 30.23%. Our most recent consensus estimate is calling for quarterly revenue of $805.16 million, down 12.89% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $4.34 per share and a revenue of $3.51 billion, indicating changes of +2.84% and +18.53%, respectively, from the former year.
Investors should also take note of any recent adjustments to analyst estimates for Nextracker. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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, 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 past month, the Zacks Consensus EPS estimate has shifted 0.63% upward. Right now, Nextracker possesses a Zacks Rank of #2 (Buy).
From a valuation perspective, Nextracker is currently exchanging hands at a Forward P/E ratio of 25.56. This expresses a premium compared to the average Forward P/E of 17.34 of its industry.
It is also worth noting that NXT currently has a PEG ratio of 2.25. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Solar was holding an average PEG ratio of 0.68 at yesterday's closing price.
The Solar industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 181, finds itself in the bottom 26% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.