We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Nextracker (NXT) Suffers a Larger Drop Than the General Market: Key Insights
Read MoreHide Full Article
Nextracker (NXT - Free Report) closed the latest trading day at $36.84, indicating a -1.34% change from the previous session's end. The stock fell short of the S&P 500, which registered a loss of 0.29% for the day. At the same time, the Dow lost 0.25%, and the tech-heavy Nasdaq lost 0.31%.
The the stock of solar energy equipment supplier has fallen by 5.71% in the past month, lagging the Oils-Energy sector's loss of 2.45% and the S&P 500's gain of 1.57%.
The upcoming earnings release of Nextracker will be of great interest to investors. The company is expected to report EPS of $0.67, up 3.08% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $606.06 million, up 5.7% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $3.18 per share and revenue of $2.85 billion, which would represent changes of +3.92% and +13.96%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Nextracker. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 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 remained steady. At present, Nextracker boasts a Zacks Rank of #4 (Sell).
In the context of valuation, Nextracker is at present trading with a Forward P/E ratio of 11.76. Its industry sports an average Forward P/E of 17.35, so one might conclude that Nextracker is trading at a discount comparatively.
It's also important to note that NXT currently trades at a PEG ratio of 4.35. 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 Solar industry currently had an average PEG ratio of 1.98 as of yesterday's close.
The Solar industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 177, finds itself in the bottom 31% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Nextracker (NXT) Suffers a Larger Drop Than the General Market: Key Insights
Nextracker (NXT - Free Report) closed the latest trading day at $36.84, indicating a -1.34% change from the previous session's end. The stock fell short of the S&P 500, which registered a loss of 0.29% for the day. At the same time, the Dow lost 0.25%, and the tech-heavy Nasdaq lost 0.31%.
The the stock of solar energy equipment supplier has fallen by 5.71% in the past month, lagging the Oils-Energy sector's loss of 2.45% and the S&P 500's gain of 1.57%.
The upcoming earnings release of Nextracker will be of great interest to investors. The company is expected to report EPS of $0.67, up 3.08% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $606.06 million, up 5.7% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $3.18 per share and revenue of $2.85 billion, which would represent changes of +3.92% and +13.96%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Nextracker. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 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 remained steady. At present, Nextracker boasts a Zacks Rank of #4 (Sell).
In the context of valuation, Nextracker is at present trading with a Forward P/E ratio of 11.76. Its industry sports an average Forward P/E of 17.35, so one might conclude that Nextracker is trading at a discount comparatively.
It's also important to note that NXT currently trades at a PEG ratio of 4.35. 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 Solar industry currently had an average PEG ratio of 1.98 as of yesterday's close.
The Solar industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 177, finds itself in the bottom 31% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.