The latest trading session saw Nextracker (NXT) ending at $42.74, denoting a +0.92% adjustment from its last day's close. The stock fell short of the S&P 500, which registered a gain of 1.83% for the day. Meanwhile, the Dow experienced a rise of 1.65%, and the technology-dominated Nasdaq saw an increase of 2.45%.

Shares of the solar energy equipment supplier witnessed a gain of 18.56% over the previous month, beating the performance of the Oils-Energy sector with its loss of 7.35% and the S&P 500's loss of 3.31%.

Market participants will be closely following the financial results of Nextracker in its upcoming release. The company plans to announce its earnings on January 28, 2025. On that day, Nextracker is projected to report earnings of $0.58 per share, which would represent a year-over-year decline of 39.58%. At the same time, our most recent consensus estimate is projecting a revenue of $641.4 million, reflecting a 9.72% fall from the equivalent quarter last year.

In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $3.26 per share and a revenue of $2.85 billion, indicating changes of +6.54% and +14.19%, respectively, from the former year.

Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Nextracker. Such recent modifications usually signify the changing landscape 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 take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 1.11% lower. As of now, Nextracker holds a Zacks Rank of #3 (Hold).

Valuation is also important, so investors should note that Nextracker has a Forward P/E ratio of 13 right now. This represents a premium compared to its industry's average Forward P/E of 11.29.

The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 86, which puts it in the top 35% of all 250+ industries.

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.

Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.

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