Constellation Energy Corporation (CEG) closed at $326.33 in the latest trading session, marking a -3.77% move from the prior day. The stock fell short of the S&P 500, which registered a loss of 0.5% for the day. Meanwhile, the Dow experienced a drop of 0.38%, and the technology-dominated Nasdaq saw a decrease of 0.5%.
Coming into today, shares of the company had gained 7.34% in the past month. In that same time, the Oils-Energy sector gained 3.33%, while the S&P 500 gained 2.74%.
Investors will be eagerly watching for the performance of Constellation Energy Corporation in its upcoming earnings disclosure. The company is expected to report EPS of $3.08, up 12.41% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $6.36 billion, indicating a 2.86% downward movement from the same quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $9.41 per share and a revenue of $24.23 billion, representing changes of +8.54% and +2.79%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Constellation Energy Corporation. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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 past month, the Zacks Consensus EPS estimate has remained steady. Currently, Constellation Energy Corporation is carrying a Zacks Rank of #3 (Hold).
In terms of valuation, Constellation Energy Corporation is presently being traded at a Forward P/E ratio of 36.03. This valuation marks a premium compared to its industry average Forward P/E of 20.33.
Also, we should mention that CEG has a PEG ratio of 2.22. 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. CEG's industry had an average PEG ratio of 2.46 as of yesterday's close.
The Alternative Energy - Other industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 165, which puts it in the bottom 34% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.
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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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