NextEra Energy (NEE) Stock Moves -0.3%: What You Should Know
In the latest trading session, NextEra Energy (NEE) closed at $279.52, marking a -0.3% move from the previous day. This move was narrower than the S&P 500's daily loss of 0.84%. Elsewhere, the Dow lost 0.47%, while the tech-heavy Nasdaq lost 1.27%.
Prior to today's trading, shares of the parent company of Florida Power & Light Co. Had lost 0.7% over the past month. This has was narrower than the Utilities sector's loss of 1.5% and lagged the S&P 500's gain of 0.6% in that time.
NEE will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $2.77, up 15.9% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $5.59 billion, up 0.39% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $9.14 per share and revenue of $20.08 billion. These totals would mark changes of +9.2% and +4.57%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for NEE. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Over the past month, the Zacks Consensus EPS estimate has moved 0.05% higher. NEE is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note NEE's current valuation metrics, including its Forward P/E ratio of 30.68. This valuation marks a premium compared to its industry's average Forward P/E of 17.05.
Investors should also note that NEE has a PEG ratio of 3.85 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 3.53 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 206, putting it in the bottom 19% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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