The upcoming report from NextEra Energy (NEE) is expected to reveal quarterly earnings of $1.04 per share, indicating an increase of 1% compared to the year-ago period. Analysts forecast revenues of $8.12 billion, representing an increase of 7.3% year over year.
The consensus EPS estimate for the quarter has undergone a downward revision of 3.8% 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 investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
With that in mind, let's delve into the average projections of some NextEra metrics that are commonly tracked and projected by analysts on Wall Street.
The combined assessment of analysts suggests that 'Operating Revenues- NextEra Energy Resources (NEER)' will likely reach $2.95 billion. The estimate suggests a change of +14.3% year over year.
Analysts' assessment points toward 'Operating Revenues- Florida Power & Light (FPL)' reaching $5.17 billion. The estimate indicates a change of +4.8% from the prior-year quarter.
The average prediction of analysts places 'Operating Income (Loss)- Florida Power & Light (FPL)' at $2.02 billion. The estimate is in contrast to the year-ago figure of $1.83 billion.
Analysts forecast 'Operating Income (Loss)- NextEra Energy Resources (NEER)' to reach $1.19 billion. The estimate compares to the year-ago value of $1.10 billion.
View all Key Company Metrics for NextEra here>>>Shares of NextEra have demonstrated returns of +12.2% over the past month compared to the Zacks S&P 500 composite's +0.2% 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.
