In the latest close session, Constellation Energy Corporation (CEG) was up +2.49% at $330.76. The stock's performance was ahead of the S&P 500's daily gain of 0.49%. At the same time, the Dow added 0.38%, and the tech-heavy Nasdaq gained 0.72%.
Coming into today, shares of the company had gained 3.26% in the past month. In that same time, the Oils-Energy sector gained 3.95%, while the S&P 500 gained 2.99%.
The investment community will be closely monitoring the performance of Constellation Energy Corporation in its forthcoming earnings report. It is anticipated that the company will report an EPS of $3.08, marking a 12.41% rise compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $6.36 billion, reflecting a 2.86% fall from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $9.41 per share and a revenue of $24.23 billion, demonstrating changes of +8.54% and +2.79%, respectively, from the preceding year.
Any recent changes to analyst estimates for Constellation Energy Corporation should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 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 last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Constellation Energy Corporation currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Constellation Energy Corporation is currently trading at a Forward P/E ratio of 34.29. This represents a premium compared to its industry average Forward P/E of 20.2.
We can additionally observe that CEG currently boasts a PEG ratio of 2.11. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Alternative Energy - Other was holding an average PEG ratio of 2.4 at yesterday's closing price.
The Alternative Energy - Other industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 181, placing it within the bottom 27% of over 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Constellation Energy Corporation (CEG): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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