In the latest market close, NextEra Energy (NEE) reached $78.67, with a +0.19% movement compared to the previous day. The stock's performance was behind the S&P 500's daily gain of 0.56%. At the same time, the Dow added 0.42%, and the tech-heavy Nasdaq gained 0.83%.
Shares of the parent company of Florida Power & Light Co. Have depreciated by 0.92% over the course of the past month, underperforming the Utilities sector's gain of 1.55% and the S&P 500's gain of 3.11%.
The investment community will be paying close attention to the earnings performance of NextEra Energy in its upcoming release. The company's earnings per share (EPS) are projected to be $0.55, reflecting a 5.77% increase from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $6.66 billion, down 3.09% from the prior-year quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $3.41 per share and a revenue of $27.12 billion, signifying shifts of +7.57% and -3.55%, respectively, from the last year.
Investors might also notice recent changes to analyst estimates for NextEra Energy. 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 reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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, there's been a 0.04% rise in the Zacks Consensus EPS estimate. As of now, NextEra Energy holds a Zacks Rank of #3 (Hold).
Digging into valuation, NextEra Energy currently has a Forward P/E ratio of 23.04. This signifies a premium in comparison to the average Forward P/E of 18.25 for its industry.
We can additionally observe that NEE currently boasts a PEG ratio of 2.84. 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. As of the close of trade yesterday, the Utility - Electric Power industry held an average PEG ratio of 2.82.
The Utility - Electric Power industry is part of the Utilities sector. At present, this industry carries a Zacks Industry Rank of 76, placing it within the top 31% of over 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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