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NRG (NRG) Soars 6.4%: Is Further Upside Left in the Stock?
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NRG Energy (NRG - Free Report) shares soared 6.4% in the last trading session to close at $87.09. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 0% loss over the past four weeks.
NRG Energy continues to expand its operations through organic and inorganic initiatives. Its diverse customer base and ability to retain customers enhance its financial performance. The company continues to optimize its generation portfolio by retiring uneconomic fossil fuel plants, monetizing non-core assets and partnering for brownfield development.
Courtesy of its high-quality services, the company has been able to retain customers and it does not depend on a single customer to generate its revenues, which adds stability and predictability to customer bills and the company’s earnings. NRG Energy has been trying to slowly lower the proportion of debt in the capital mix.
This power company is expected to post quarterly earnings of $1.88 per share in its upcoming report, which represents a year-over-year change of +16.1%. Revenues are expected to be $5.56 billion, down 30.1% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For NRG, the consensus EPS estimate for the quarter has been revised 7.8% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on NRG going forward to see if this recent jump can turn into more strength down the road.
NRG is part of the Zacks Utility - Electric Power industry. Duke Energy (DUK - Free Report) , another stock in the same industry, closed the last trading session 1.1% higher at $116.37. DUK has returned 2.7% in the past month.
For Duke Energy, the consensus EPS estimate for the upcoming report has changed -1.7% over the past month to $1.86. This represents a change of -4.1% from what the company reported a year ago. Duke Energy currently has a Zacks Rank of #4 (Sell).
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NRG (NRG) Soars 6.4%: Is Further Upside Left in the Stock?
NRG Energy (NRG - Free Report) shares soared 6.4% in the last trading session to close at $87.09. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 0% loss over the past four weeks.
NRG Energy continues to expand its operations through organic and inorganic initiatives. Its diverse customer base and ability to retain customers enhance its financial performance. The company continues to optimize its generation portfolio by retiring uneconomic fossil fuel plants, monetizing non-core assets and partnering for brownfield development.
Courtesy of its high-quality services, the company has been able to retain customers and it does not depend on a single customer to generate its revenues, which adds stability and predictability to customer bills and the company’s earnings. NRG Energy has been trying to slowly lower the proportion of debt in the capital mix.
This power company is expected to post quarterly earnings of $1.88 per share in its upcoming report, which represents a year-over-year change of +16.1%. Revenues are expected to be $5.56 billion, down 30.1% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For NRG, the consensus EPS estimate for the quarter has been revised 7.8% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on NRG going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
NRG is part of the Zacks Utility - Electric Power industry. Duke Energy (DUK - Free Report) , another stock in the same industry, closed the last trading session 1.1% higher at $116.37. DUK has returned 2.7% in the past month.
For Duke Energy, the consensus EPS estimate for the upcoming report has changed -1.7% over the past month to $1.86. This represents a change of -4.1% from what the company reported a year ago. Duke Energy currently has a Zacks Rank of #4 (Sell).