Just Energy (JE) Stock Sinks As Market Gains: What You Should Know
Just Energy (JE) closed the most recent trading day at $1.75, moving -1.69% from the previous trading session. This move lagged the S&P 500's daily gain of 0.03%. Elsewhere, the Dow gained 0.11%, while the tech-heavy Nasdaq added 0.1%.
Heading into today, shares of the natural gas and electricity retailer had lost 24.26% over the past month, lagging the Utilities sector's gain of 2.47% and the S&P 500's gain of 1.82% in that time.
Investors will be hoping for strength from JE as it approaches its next earnings release. On that day, JE is projected to report earnings of -$0.01 per share, which would represent a year-over-year decline of 106.67%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $564.35 million, down 22.85% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$1.05 per share and revenue of $2.24 billion, which would represent changes of -975% and -23.15%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for JE. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. JE is currently a Zacks Rank #1 (Strong Buy).
Investors should also note JE's current valuation metrics, including its Forward P/E ratio of 12.71. Its industry sports an average Forward P/E of 20.62, so we one might conclude that JE is trading at a discount comparatively.
The Utility - Gas Distribution industry is part of the Utilities sector. This industry currently has a Zacks Industry Rank of 87, which puts it in the top 35% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
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Just Energy Group, Inc. (JE) : Free Stock Analysis Report
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