NextEra Energy (NEE - Free Report) closed at $204.39 in the latest trading session, marking a -0.67% move from the prior day. This change lagged the S&P 500's daily gain of 1.05%. Meanwhile, the Dow gained 1.02%, and the Nasdaq, a tech-heavy index, added 1.66%.
Prior to today's trading, shares of the parent company of Florida Power & Light Co. Had gained 9.09% over the past month. This has outpaced the Utilities sector's gain of 2.84% and the S&P 500's loss of 2.76% in that time.
Investors will be hoping for strength from NEE as it approaches its next earnings release. On that day, NEE is projected to report earnings of $2.29 per share, which would represent year-over-year growth of 8.53%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.53 billion, up 11.4% from the year-ago period.
NEE's full-year Zacks Consensus Estimates are calling for earnings of $8.35 per share and revenue of $17.89 billion. These results would represent year-over-year changes of +8.44% and +6.88%, respectively.
Investors might also notice recent changes to analyst estimates for NEE. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Within the past 30 days, our consensus EPS projection has moved 0.74% lower. NEE currently has a Zacks Rank of #3 (Hold).
In terms of valuation, NEE is currently trading at a Forward P/E ratio of 24.66. This represents a premium compared to its industry's average Forward P/E of 20.35.
Meanwhile, NEE's PEG ratio is currently 3.12. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Utility - Electric Power stocks are, on average, holding a PEG ratio of 3.87 based on yesterday's closing prices.
The Utility - Electric Power industry is part of the Utilities sector. This industry currently has a Zacks Industry Rank of 157, which puts it in the bottom 39% 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.
To follow NEE in the coming trading sessions, be sure to utilize Zacks.com.