Nextracker (NXT) closed the most recent trading day at $40.57, moving -0.39% from the previous trading session. The stock's performance was behind the S&P 500's daily loss of 0.17%. At the same time, the Dow lost 0.39%, and the tech-heavy Nasdaq lost 0.05%.
Coming into today, shares of the solar energy equipment supplier had lost 11.26% in the past month. In that same time, the Oils-Energy sector lost 10.33%, while the S&P 500 lost 3.94%.
Analysts and investors alike will be keeping a close eye on the performance of Nextracker in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $0.98, reflecting a 2.08% increase from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $823.92 million, up 11.87% from the year-ago period.
Investors should also take note of any recent adjustments to analyst estimates for Nextracker. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.89% decrease. Nextracker presently features a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Nextracker has a Forward P/E ratio of 10.49 right now. This denotes no noticeable deviation relative to the industry's average Forward P/E of 10.49.
The Solar industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 147, this industry ranks in the bottom 41% 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Nextracker Inc. (NXT): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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