Just Energy (JE) Outpaces Stock Market Gains: What You Should Know
Just Energy (JE) closed at $1.62 in the latest trading session, marking a +1.89% move from the prior day. This move outpaced the S&P 500's daily gain of 0.7%. Elsewhere, the Dow gained 0.29%, while the tech-heavy Nasdaq added 1.04%.
Heading into today, shares of the natural gas and electricity retailer had lost 14.97% over the past month, lagging the Utilities sector's gain of 2.48% and the S&P 500's gain of 4.38% in that time.
JE will be looking to display strength as it nears its next earnings release. In that report, analysts expect JE to post earnings of -$0.01 per share. This would mark a year-over-year decline of 106.67%. Our most recent consensus estimate is calling for quarterly revenue 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.
Any recent changes to analyst estimates for JE should also be noted by investors. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 remained stagnant within the past month. JE is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note JE's current valuation metrics, including its Forward P/E ratio of 11.36. This valuation marks a discount compared to its industry's average Forward P/E of 19.93.
The Utility - Gas Distribution industry is part of the Utilities sector. This industry currently has a Zacks Industry Rank of 204, which puts it in the bottom 20% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow JE in the coming trading sessions, be sure to utilize Zacks.com.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.