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Nextracker (NXT) Advances While Market Declines: Some Information for Investors
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Nextracker (NXT - Free Report) ended the recent trading session at $108.05, demonstrating a +1.46% change from the preceding day's closing price. This move outpaced the S&P 500's daily loss of 0.64%. On the other hand, the Dow registered a loss of 0.59%, and the technology-centric Nasdaq decreased by 0.59%.
Shares of the solar energy equipment supplier have depreciated by 8.91% over the course of the past month, underperforming the Oils-Energy sector's loss of 3.68%, and the S&P 500's gain of 9.33%.
Investors will be eagerly watching for the performance of Nextracker in its upcoming earnings disclosure. The company is predicted to post an EPS of $0.89, indicating a 31.01% decline compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $807.33 million, down 12.66% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $4.35 per share and revenue of $3.51 billion, indicating changes of +3.08% and +18.59%, respectively, compared to the previous year.
Investors should also take note of any recent adjustments to analyst estimates for Nextracker. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, 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 last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Right now, Nextracker possesses a Zacks Rank of #2 (Buy).
Digging into valuation, Nextracker currently has a Forward P/E ratio of 23.18. This represents a premium compared to its industry average Forward P/E of 16.14.
Investors should also note that NXT has a PEG ratio of 4.21 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Solar industry had an average PEG ratio of 0.84 as trading concluded yesterday.
The Solar industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 206, placing it within the bottom 16% of over 250 industries.
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.
To follow NXT in the coming trading sessions, be sure to utilize Zacks.com.
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Nextracker (NXT) Advances While Market Declines: Some Information for Investors
Nextracker (NXT - Free Report) ended the recent trading session at $108.05, demonstrating a +1.46% change from the preceding day's closing price. This move outpaced the S&P 500's daily loss of 0.64%. On the other hand, the Dow registered a loss of 0.59%, and the technology-centric Nasdaq decreased by 0.59%.
Shares of the solar energy equipment supplier have depreciated by 8.91% over the course of the past month, underperforming the Oils-Energy sector's loss of 3.68%, and the S&P 500's gain of 9.33%.
Investors will be eagerly watching for the performance of Nextracker in its upcoming earnings disclosure. The company is predicted to post an EPS of $0.89, indicating a 31.01% decline compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $807.33 million, down 12.66% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $4.35 per share and revenue of $3.51 billion, indicating changes of +3.08% and +18.59%, respectively, compared to the previous year.
Investors should also take note of any recent adjustments to analyst estimates for Nextracker. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, 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 last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Right now, Nextracker possesses a Zacks Rank of #2 (Buy).
Digging into valuation, Nextracker currently has a Forward P/E ratio of 23.18. This represents a premium compared to its industry average Forward P/E of 16.14.
Investors should also note that NXT has a PEG ratio of 4.21 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Solar industry had an average PEG ratio of 0.84 as trading concluded yesterday.
The Solar industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 206, placing it within the bottom 16% of over 250 industries.
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.
To follow NXT in the coming trading sessions, be sure to utilize Zacks.com.