NextEra Energy (NEE) Stock Moves -1.63%: What You Should Know
NextEra Energy (NEE) closed the most recent trading day at $74.13, moving -1.63% from the previous trading session. This change was narrower than the S&P 500's daily loss of 1.65%. Elsewhere, the Dow lost 1.63%, while the tech-heavy Nasdaq lost 6.65%.
Coming into today, shares of the parent company of Florida Power & Light Co. Had gained 2.31% in the past month. In that same time, the Utilities sector lost 1.36%, while the S&P 500 gained 0.3%.
NextEra Energy will be looking to display strength as it nears its next earnings release. On that day, NextEra Energy is projected to report earnings of $0.78 per share, which would represent year-over-year growth of 5.41%. Meanwhile, our latest consensus estimate is calling for revenue of $5.92 billion, up 104.96% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.12 per share and revenue of $26.51 billion, which would represent changes of +7.59% and +26.49%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for NextEra Energy. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.21% higher. NextEra Energy currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, NextEra Energy is holding a Forward P/E ratio of 24.14. This represents a premium compared to its industry's average Forward P/E of 16.89.
Investors should also note that NEE has a PEG ratio of 2.67 right now. 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. Utility - Electric Power stocks are, on average, holding a PEG ratio of 2.81 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 96, putting it in the top 39% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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NextEra Energy, Inc. (NEE) : Free Stock Analysis Report
