NextEra Energy (NEE) Stock Moves -1.1%: What You Should Know
In the latest trading session, NextEra Energy (NEE) closed at $89.94, marking a -1.1% move from the previous day.
NextEra Energy (NEE) closed at $89.94 in the latest trading session, marking a -1.1% move from the prior day. This change was narrower than the S&P 500's daily loss of 1.14%. Elsewhere, the Dow lost 1.23%, while the tech-heavy Nasdaq lost 0.36%.
Prior to today's trading, shares of the parent company of Florida Power & Light Co. Had gained 2.98% over the past month. This has lagged the Utilities sector's gain of 3.08% and outpaced the S&P 500's loss of 1.37% in that time.
NextEra Energy will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.41, up 2.5% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $5.48 billion, up 24.61% from the year-ago period.
NEE's full-year Zacks Consensus Estimates are calling for earnings of $2.53 per share and revenue of $17.86 billion. These results would represent year-over-year changes of +9.52% and -0.77%, respectively.
Investors should also note any recent changes to analyst estimates for NextEra Energy. These revisions help to show the ever-changing nature of 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. 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 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.2% higher. NextEra Energy is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, NextEra Energy is currently trading at a Forward P/E ratio of 35.92. This represents a premium compared to its industry's average Forward P/E of 19.23.
It is also worth noting that NEE currently has a PEG ratio of 4.02. 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. The Utility - Electric Power was holding an average PEG ratio of 3.56 at yesterday's closing price.
The Utility - Electric Power industry is part of the Utilities sector. This industry currently has a Zacks Industry Rank of 152, which puts it in the bottom 41% 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.
To follow NEE in the coming trading sessions, be sure to utilize Zacks.com.
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NextEra Energy, Inc. (NEE): Free Stock Analysis Report
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