Constellation Energy Corporation (CEG) ended the recent trading session at $325.99, demonstrating a +1.38% change from the preceding day's closing price. The stock outperformed the S&P 500, which registered a daily gain of 0.14%. At the same time, the Dow added 0.2%, and the tech-heavy Nasdaq gained 0.27%.
Shares of the company witnessed a gain of 8.3% over the previous month, beating the performance of the Oils-Energy sector with its gain of 2.89%, and the S&P 500's gain of 3.97%.
Analysts and investors alike will be keeping a close eye on the performance of Constellation Energy Corporation in its upcoming earnings disclosure. The company is predicted to post an EPS of $2.05, indicating a 22.02% growth compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $5.2 billion, indicating a 5.02% decrease compared to the same quarter of the previous year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $9.45 per share and a revenue of $23.99 billion, signifying shifts of +9% and +1.8%, respectively, from the last year.
Investors might also notice recent changes to analyst estimates for Constellation Energy Corporation. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.28% higher. As of now, Constellation Energy Corporation holds a Zacks Rank of #3 (Hold).
In terms of valuation, Constellation Energy Corporation is currently trading at a Forward P/E ratio of 34.01. This denotes a premium relative to the industry average Forward P/E of 19.66.
It is also worth noting that CEG currently has a PEG ratio of 2.52. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Alternative Energy - Other stocks are, on average, holding a PEG ratio of 2.5 based on yesterday's closing prices.
The Alternative Energy - Other industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 147, putting 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Constellation Energy Corporation (CEG): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
