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Here's Why Constellation Energy Corporation (CEG) Fell More Than Broader Market
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Constellation Energy Corporation (CEG - Free Report) ended the recent trading session at $264.57, demonstrating a -7.09% change from the preceding day's closing price. The stock's performance was behind the S&P 500's daily loss of 0.48%. Elsewhere, the Dow lost 0.29%, while the tech-heavy Nasdaq lost 0.56%.
Shares of the company witnessed a gain of 0.8% over the previous month, trailing the performance of the Oils-Energy sector with its gain of 4.87%, and outperforming the S&P 500's loss of 0.82%.
Market participants will be closely following the financial results of Constellation Energy Corporation in its upcoming release. On that day, Constellation Energy Corporation is projected to report earnings of $3.96 per share, which would represent year-over-year growth of 30.26%. At the same time, our most recent consensus estimate is projecting a revenue of $8.65 billion, reflecting a 31.65% rise from the equivalent quarter last year.
CEG's full-year Zacks Consensus Estimates are calling for earnings of $12.14 per share and revenue of $33.66 billion. These results would represent year-over-year changes of +29.29% and +31.82%, respectively.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Constellation Energy Corporation. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.27% higher. Right now, Constellation Energy Corporation possesses a Zacks Rank of #3 (Hold).
Digging into valuation, Constellation Energy Corporation currently has a Forward P/E ratio of 23.46. This represents a premium compared to its industry average Forward P/E of 17.63.
Meanwhile, CEG's PEG ratio is currently 1.57. 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 Alternative Energy - Other was holding an average PEG ratio of 2.27 at yesterday's closing price.
The Alternative Energy - Other industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 91, this industry ranks in the top 37% of all industries, numbering over 250.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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.
View the Zacks #1 Rank List
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Here's Why Constellation Energy Corporation (CEG) Fell More Than Broader Market
Constellation Energy Corporation (CEG - Free Report) ended the recent trading session at $264.57, demonstrating a -7.09% change from the preceding day's closing price. The stock's performance was behind the S&P 500's daily loss of 0.48%. Elsewhere, the Dow lost 0.29%, while the tech-heavy Nasdaq lost 0.56%.
Shares of the company witnessed a gain of 0.8% over the previous month, trailing the performance of the Oils-Energy sector with its gain of 4.87%, and outperforming the S&P 500's loss of 0.82%.
Market participants will be closely following the financial results of Constellation Energy Corporation in its upcoming release. On that day, Constellation Energy Corporation is projected to report earnings of $3.96 per share, which would represent year-over-year growth of 30.26%. At the same time, our most recent consensus estimate is projecting a revenue of $8.65 billion, reflecting a 31.65% rise from the equivalent quarter last year.
CEG's full-year Zacks Consensus Estimates are calling for earnings of $12.14 per share and revenue of $33.66 billion. These results would represent year-over-year changes of +29.29% and +31.82%, respectively.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Constellation Energy Corporation. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.27% higher. Right now, Constellation Energy Corporation possesses a Zacks Rank of #3 (Hold).
Digging into valuation, Constellation Energy Corporation currently has a Forward P/E ratio of 23.46. This represents a premium compared to its industry average Forward P/E of 17.63.
Meanwhile, CEG's PEG ratio is currently 1.57. 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 Alternative Energy - Other was holding an average PEG ratio of 2.27 at yesterday's closing price.
The Alternative Energy - Other industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 91, this industry ranks in the top 37% of all industries, numbering over 250.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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.