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Southern Co. (SO) Stock Falls Amid Market Uptick: What Investors Need to Know
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Southern Co. (SO - Free Report) closed the latest trading day at $93.61, indicating a -0.57% change from the previous session's end. This change lagged the S&P 500's 0.22% gain on the day. Elsewhere, the Dow saw a downswing of 0.33%, while the tech-heavy Nasdaq appreciated by 0.76%.
The power company's stock has climbed by 5.37% in the past month, exceeding the Utilities sector's loss of 1.27% and the S&P 500's gain of 1.47%.
The investment community will be paying close attention to the earnings performance of Southern Co. in its upcoming release. The company is slated to reveal its earnings on October 31, 2024. The company is forecasted to report an EPS of $1.37, showcasing a 3.52% downward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $7.18 billion, reflecting a 2.81% rise from the equivalent quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $4.02 per share and a revenue of $26.48 billion, signifying shifts of +10.14% and +4.84%, respectively, from the last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Southern Co. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.06% higher within the past month. As of now, Southern Co. holds a Zacks Rank of #3 (Hold).
From a valuation perspective, Southern Co. is currently exchanging hands at a Forward P/E ratio of 23.42. This denotes a premium relative to the industry's average Forward P/E of 17.68.
It's also important to note that SO currently trades at a PEG ratio of 3.37. 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 2.8 at yesterday's closing price.
The Utility - Electric Power industry is part of the Utilities sector. With its current Zacks Industry Rank of 73, this industry ranks in the top 29% of all industries, numbering over 250.
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.
To follow SO in the coming trading sessions, be sure to utilize Zacks.com.
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Southern Co. (SO) Stock Falls Amid Market Uptick: What Investors Need to Know
Southern Co. (SO - Free Report) closed the latest trading day at $93.61, indicating a -0.57% change from the previous session's end. This change lagged the S&P 500's 0.22% gain on the day. Elsewhere, the Dow saw a downswing of 0.33%, while the tech-heavy Nasdaq appreciated by 0.76%.
The power company's stock has climbed by 5.37% in the past month, exceeding the Utilities sector's loss of 1.27% and the S&P 500's gain of 1.47%.
The investment community will be paying close attention to the earnings performance of Southern Co. in its upcoming release. The company is slated to reveal its earnings on October 31, 2024. The company is forecasted to report an EPS of $1.37, showcasing a 3.52% downward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $7.18 billion, reflecting a 2.81% rise from the equivalent quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $4.02 per share and a revenue of $26.48 billion, signifying shifts of +10.14% and +4.84%, respectively, from the last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Southern Co. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.06% higher within the past month. As of now, Southern Co. holds a Zacks Rank of #3 (Hold).
From a valuation perspective, Southern Co. is currently exchanging hands at a Forward P/E ratio of 23.42. This denotes a premium relative to the industry's average Forward P/E of 17.68.
It's also important to note that SO currently trades at a PEG ratio of 3.37. 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 2.8 at yesterday's closing price.
The Utility - Electric Power industry is part of the Utilities sector. With its current Zacks Industry Rank of 73, this industry ranks in the top 29% of all industries, numbering over 250.
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.
To follow SO in the coming trading sessions, be sure to utilize Zacks.com.