In the latest trading session, NextEra Energy (NEE - Free Report) closed at $210.27, marking a +1.81% move from the previous day. This change outpaced the S&P 500's 1.15% gain on the day. Elsewhere, the Dow gained 2.39%, while the tech-heavy Nasdaq lost 0.45%.
Heading into today, shares of the parent company of Florida Power & Light Co. Had lost 23.6% over the past month, outpacing the Utilities sector's loss of 29.14% and the S&P 500's loss of 24.07% in that time.
NEE will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $1.95, down 11.36% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $4.61 billion, up 13.06% from the year-ago period.
NEE's full-year Zacks Consensus Estimates are calling for earnings of $9.05 per share and revenue of $20.34 billion. These results would represent year-over-year changes of +8.12% and +5.92%, respectively.
Investors might also notice recent changes to analyst estimates for NEE. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.11% higher. NEE is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, NEE currently has a Forward P/E ratio of 22.83. Its industry sports an average Forward P/E of 14.75, so we one might conclude that NEE is trading at a premium comparatively.
It is also worth noting that NEE currently has a PEG ratio of 2.96. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Utility - Electric Power was holding an average PEG ratio of 3.14 at yesterday's closing price.
The Utility - Electric Power industry is part of the Utilities sector. This industry currently has a Zacks Industry Rank of 49, which puts it in the top 20% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
You can find more information on all of these metrics, and much more, on Zacks.com.