The most recent trading session ended with Nextracker (NXT) standing at $31.29, reflecting a -0.41% shift from the previouse trading day's closing. This move lagged the S&P 500's daily gain of 0.22%. Elsewhere, the Dow lost 0.33%, while the tech-heavy Nasdaq added 0.76%.

Prior to today's trading, shares of the solar energy equipment supplier had lost 13.71% over the past month. This has lagged the Oils-Energy sector's loss of 11.32% and the S&P 500's gain of 1.47% in that time.

Analysts and investors alike will be keeping a close eye on the performance of Nextracker in its upcoming earnings disclosure. The company's earnings report is set to go public on October 30, 2024. The company is predicted to post an EPS of $0.64, indicating a 1.54% decline compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $609.58 million, indicating a 6.32% growth compared to the corresponding quarter of the prior year.

NXT's full-year Zacks Consensus Estimates are calling for earnings of $3.13 per share and revenue of $2.85 billion. These results would represent year-over-year changes of +2.29% and +13.96%, respectively.

Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Nextracker. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.

Our research shows that these estimate changes are directly correlated with near-term stock prices. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.

The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 2.01% lower. Nextracker is holding a Zacks Rank of #3 (Hold) right now.

In terms of valuation, Nextracker is presently being traded at a Forward P/E ratio of 10.03. Its industry sports an average Forward P/E of 13.08, so one might conclude that Nextracker is trading at a discount comparatively.

The Solar industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 148, this industry ranks in the bottom 42% of all industries, numbering over 250.

The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.

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