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Why Nextpower (NXT) Outpaced the Stock Market Today
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Nextpower (NXT - Free Report) ended the recent trading session at $82.76, demonstrating a +2.84% change from the preceding day's closing price. The stock outperformed the S&P 500, which registered a daily gain of 1.49%. Meanwhile, the Dow gained 0.71%, and the Nasdaq, a tech-heavy index, added 2.26%.
Shares of the solar energy equipment supplier witnessed a loss of 6.63% over the previous month, trailing the performance of the Oils-Energy sector with its gain of 0.51%, and the S&P 500's gain of 0.1%.
The investment community will be closely monitoring the performance of Nextpower in its forthcoming earnings report. The company is predicted to post an EPS of $1.11, indicating a 6.72% decline compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $1.08 billion, up 19.17% from the year-ago period.
NXT's full-year Zacks Consensus Estimates are calling for earnings of $4.67 per share and revenue of $4.38 billion. These results would represent year-over-year changes of +3.78% and +23.04%, respectively.
It's also important for investors to be aware of any recent modifications to analyst estimates for Nextpower. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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 last 30 days, the Zacks Consensus EPS estimate has moved 1.46% higher. As of now, Nextpower holds a Zacks Rank of #3 (Hold).
With respect to valuation, Nextpower is currently being traded at a Forward P/E ratio of 17.24. This signifies a premium in comparison to the average Forward P/E of 11.02 for its industry.
Also, we should mention that NXT has a PEG ratio of 1.29. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. NXT's industry had an average PEG ratio of 0.65 as of yesterday's close.
The Solar industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 235, this industry ranks in the bottom 5% of all industries, numbering over 250.
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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Why Nextpower (NXT) Outpaced the Stock Market Today
Nextpower (NXT - Free Report) ended the recent trading session at $82.76, demonstrating a +2.84% change from the preceding day's closing price. The stock outperformed the S&P 500, which registered a daily gain of 1.49%. Meanwhile, the Dow gained 0.71%, and the Nasdaq, a tech-heavy index, added 2.26%.
Shares of the solar energy equipment supplier witnessed a loss of 6.63% over the previous month, trailing the performance of the Oils-Energy sector with its gain of 0.51%, and the S&P 500's gain of 0.1%.
The investment community will be closely monitoring the performance of Nextpower in its forthcoming earnings report. The company is predicted to post an EPS of $1.11, indicating a 6.72% decline compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $1.08 billion, up 19.17% from the year-ago period.
NXT's full-year Zacks Consensus Estimates are calling for earnings of $4.67 per share and revenue of $4.38 billion. These results would represent year-over-year changes of +3.78% and +23.04%, respectively.
It's also important for investors to be aware of any recent modifications to analyst estimates for Nextpower. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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 last 30 days, the Zacks Consensus EPS estimate has moved 1.46% higher. As of now, Nextpower holds a Zacks Rank of #3 (Hold).
With respect to valuation, Nextpower is currently being traded at a Forward P/E ratio of 17.24. This signifies a premium in comparison to the average Forward P/E of 11.02 for its industry.
Also, we should mention that NXT has a PEG ratio of 1.29. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. NXT's industry had an average PEG ratio of 0.65 as of yesterday's close.
The Solar industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 235, this industry ranks in the bottom 5% of all industries, numbering over 250.
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.