In the latest trading session, NextEra Energy (NEE) closed at $228.90, marking a -0.28% move from the previous day. This change lagged the S&P 500's daily loss of 0.14%. At the same time, the Dow lost 0.11%, and the tech-heavy Nasdaq lost 0.1%.
Heading into today, shares of the parent company of Florida Power & Light Co. Had gained 3.99% over the past month, outpacing the Utilities sector's gain of 1.05% and the S&P 500's loss of 0.91% in that time.
Wall Street will be looking for positivity from NEE as it approaches its next earnings report date. This is expected to be October 22, 2019. The company is expected to report EPS of $2.18, unchanged from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $5.24 billion, up 18.54% from the prior-year quarter.
NEE's full-year Zacks Consensus Estimates are calling for earnings of $8.38 per share and revenue of $18.99 billion. These results would represent year-over-year changes of +8.83% and +13.43%, respectively.
Investors might also notice recent changes to analyst estimates for NEE. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. NEE is currently a Zacks Rank #3 (Hold).
In terms of valuation, NEE is currently trading at a Forward P/E ratio of 27.4. Its industry sports an average Forward P/E of 21.24, so we one might conclude that NEE is trading at a premium comparatively.
Meanwhile, NEE's PEG ratio is currently 3.42. 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. Utility - Electric Power stocks are, on average, holding a PEG ratio of 3.93 based on yesterday's closing prices.
The Utility - Electric Power industry is part of the Utilities sector. This industry currently has a Zacks Industry Rank of 65, which puts it in the top 26% of all 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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NextEra Energy, Inc. (NEE) : Free Stock Analysis Report
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