Generac Holdings (GNRC) Stock Moves -0.09%: What You Should Know
Generac Holdings (GNRC) ended the recent trading session at $88.30, demonstrating a -0.09% swing from the preceding day's closing price. The stock outperformed the S&P 500, which registered a daily loss of 0.17%. Meanwhile, the Dow lost 0.58%, and the Nasdaq, a tech-heavy index, added 0.27%.
Heading into today, shares of the generator maker had lost 17.21% over the past month, lagging the Computer and Technology sector's loss of 2.16% and the S&P 500's loss of 3.95% in that time.
Market participants will be closely following the financial results of Generac Holdings in its upcoming release. The company plans to announce its earnings on November 1, 2023. On that day, Generac Holdings is projected to report earnings of $1.51 per share, which would represent a year-over-year decline of 13.71%. In the meantime, our current consensus estimate forecasts the revenue to be $1.04 billion, indicating a 4.61% decline compared to the corresponding quarter of the prior year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $5.32 per share and revenue of $4.05 billion, indicating changes of -36.13% and -11.39%, respectively, compared to the previous year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Generac Holdings. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.96% lower within the past month. At present, Generac Holdings boasts a Zacks Rank of #3 (Hold).
Looking at valuation, Generac Holdings is presently trading at a Forward P/E ratio of 16.6. This signifies a premium in comparison to the average Forward P/E of 13.24 for its industry.
It is also worth noting that GNRC currently has a PEG ratio of 1.66. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Electronics - Power Generation stocks are, on average, holding a PEG ratio of 1.66 based on yesterday's closing prices.
The Electronics - Power Generation industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 54, this industry ranks in the top 22% of all industries, numbering over 250.
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.
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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Generac Holdings Inc. (GNRC) : Free Stock Analysis Report
