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Southern Co. (SO) Rises Higher Than Market: Key Facts
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In the latest market close, Southern Co. (SO - Free Report) reached $88.96, with a +0.79% movement compared to the previous day. This move outpaced the S&P 500's daily gain of 0.61%. Elsewhere, the Dow saw an upswing of 0.97%, while the tech-heavy Nasdaq appreciated by 0.33%.
The power company's shares have seen a decrease of 0.26% over the last month, surpassing the Utilities sector's loss of 2.51% and falling behind the S&P 500's gain of 5.36%.
The investment community will be closely monitoring the performance of Southern Co. in its forthcoming earnings report. The company is scheduled to release its earnings on October 31, 2024. The company is forecasted to report an EPS of $1.31, showcasing a 7.75% downward movement from the corresponding quarter of the prior year. Meanwhile, our latest consensus estimate is calling for revenue of $7.14 billion, up 2.33% from the prior-year quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $4.02 per share and a revenue of $26.47 billion, signifying shifts of +10.14% and +4.8%, respectively, from the last year.
It is also important to note the recent changes to analyst estimates for Southern Co. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.15% upward. As of now, Southern Co. holds a Zacks Rank of #2 (Buy).
Looking at its valuation, Southern Co. is holding a Forward P/E ratio of 21.97. For comparison, its industry has an average Forward P/E of 17.13, which means Southern Co. is trading at a premium to the group.
It's also important to note that SO currently trades at a PEG ratio of 3.16. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As the market closed yesterday, the Utility - Electric Power industry was having an average PEG ratio of 2.72.
The Utility - Electric Power industry is part of the Utilities sector. This group has a Zacks Industry Rank of 52, putting it in the top 21% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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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Southern Co. (SO) Rises Higher Than Market: Key Facts
In the latest market close, Southern Co. (SO - Free Report) reached $88.96, with a +0.79% movement compared to the previous day. This move outpaced the S&P 500's daily gain of 0.61%. Elsewhere, the Dow saw an upswing of 0.97%, while the tech-heavy Nasdaq appreciated by 0.33%.
The power company's shares have seen a decrease of 0.26% over the last month, surpassing the Utilities sector's loss of 2.51% and falling behind the S&P 500's gain of 5.36%.
The investment community will be closely monitoring the performance of Southern Co. in its forthcoming earnings report. The company is scheduled to release its earnings on October 31, 2024. The company is forecasted to report an EPS of $1.31, showcasing a 7.75% downward movement from the corresponding quarter of the prior year. Meanwhile, our latest consensus estimate is calling for revenue of $7.14 billion, up 2.33% from the prior-year quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $4.02 per share and a revenue of $26.47 billion, signifying shifts of +10.14% and +4.8%, respectively, from the last year.
It is also important to note the recent changes to analyst estimates for Southern Co. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.15% upward. As of now, Southern Co. holds a Zacks Rank of #2 (Buy).
Looking at its valuation, Southern Co. is holding a Forward P/E ratio of 21.97. For comparison, its industry has an average Forward P/E of 17.13, which means Southern Co. is trading at a premium to the group.
It's also important to note that SO currently trades at a PEG ratio of 3.16. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As the market closed yesterday, the Utility - Electric Power industry was having an average PEG ratio of 2.72.
The Utility - Electric Power industry is part of the Utilities sector. This group has a Zacks Industry Rank of 52, putting it in the top 21% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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.