Wall Street analysts expect NextEra Energy (NEE) to post quarterly earnings of $0.95 per share in its upcoming report, which indicates a year-over-year increase of 4.4%. Revenues are expected to be $7.04 billion, up 22.9% from the year-ago quarter.
The consensus EPS estimate for the quarter has undergone a downward revision of 11.3% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.
Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
That said, let's delve into the average estimates of some NextEra metrics that Wall Street analysts commonly model and monitor.
The combined assessment of analysts suggests that 'Operating Revenues- NextEra Energy Resources (NEER)' will likely reach $3.02 billion. The estimate indicates a change of +62% from the prior-year quarter.
Analysts forecast 'Operating Revenues- Florida Power & Light (FPL)' to reach $4.30 billion. The estimate indicates a year-over-year change of +12.2%.
Based on the collective assessment of analysts, 'Operating Income (Loss)- Florida Power & Light (FPL)' should arrive at $1.80 billion. Compared to the current estimate, the company reported $1.68 billion in the same quarter of the previous year.
It is projected by analysts that the 'Operating Income (Loss)- NextEra Energy Resources (NEER)' will reach $1.32 billion. The estimate compares to the year-ago value of $371 million.
View all Key Company Metrics for NextEra here>>>
Shares of NextEra have demonstrated returns of -6.9% over the past month compared to the Zacks S&P 500 composite's -6.3% change. With a Zacks Rank #3 (Hold), NEE is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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This article originally published on Zacks Investment Research (zacks.com).
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
