- Oops!Something went wrong.Please try again later.
NextEra Energy (NEE) closed the most recent trading day at $79.36, moving +0.19% from the previous trading session. This move outpaced the S&P 500's daily loss of 1.3%.
Coming into today, shares of the parent company of Florida Power & Light Co. Had lost 7.56% in the past month. In that same time, the Utilities sector lost 5.78%, while the S&P 500 lost 3.58%.
Investors will be hoping for strength from NEE as it approaches its next earnings release. On that day, NEE is projected to report earnings of $0.71 per share, which would represent year-over-year growth of 5.97%. Meanwhile, our latest consensus estimate is calling for revenue of $5.69 billion, up 18.98% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.52 per share and revenue of $18.8 billion. These totals would mark changes of +9.09% and +4.47%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for NEE. Recent revisions tend to reflect the latest near-term business trends. 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. 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. The Zacks Consensus EPS estimate has moved 0.13% higher within the past month. NEE is currently a Zacks Rank #3 (Hold).
In terms of valuation, NEE is currently trading at a Forward P/E ratio of 31.41. Its industry sports an average Forward P/E of 18, so we one might conclude that NEE is trading at a premium comparatively.
Investors should also note that NEE has a PEG ratio of 3.78 right now. 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 3.37 based on yesterday's closing prices.
The Utility - Electric Power industry is part of the Utilities sector. This group has a Zacks Industry Rank of 166, putting it in the bottom 35% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
NextEra Energy, Inc. (NEE) : Free Stock Analysis Report
To read this article on Zacks.com click here.