NextEra Energy (NEE - Free Report) closed at $236.22 in the latest trading session, marking a -1.23% move from the prior day. This change was narrower than the S&P 500's daily loss of 2.42%. At the same time, the Dow lost 2.84%, and the tech-heavy Nasdaq lost 2.59%.
Heading into today, shares of the parent company of Florida Power & Light Co. Had lost 4.85% over the past month, lagging the Utilities sector's gain of 1.7% and the S&P 500's gain of 4.5% in that time.
NEE will be looking to display strength as it nears its next earnings release. On that day, NEE is projected to report earnings of $2.50 per share, which would represent year-over-year growth of 6.38%. Our most recent consensus estimate is calling for quarterly revenue of $5.28 billion, up 6.14% from the year-ago period.
NEE's full-year Zacks Consensus Estimates are calling for earnings of $9.08 per share and revenue of $20.55 billion. These results would represent year-over-year changes of +8.48% and +7.03%, respectively.
Investors might also notice recent changes to analyst estimates for NEE. 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 company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 0.33% higher. NEE currently has a Zacks Rank of #2 (Buy).
In terms of valuation, NEE is currently trading at a Forward P/E ratio of 26.35. For comparison, its industry has an average Forward P/E of 17.06, which means NEE is trading at a premium to the group.
Investors should also note that NEE has a PEG ratio of 3.36 right now. 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 industry currently had an average PEG ratio of 3.36 as of yesterday's close.
The Utility - Electric Power industry is part of the Utilities sector. This industry currently has a Zacks Industry Rank of 102, which puts it in the top 41% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.