Constellation Energy Corporation (CEG) closed the most recent trading day at $353.27, moving -1.08% from the previous trading session. The stock trailed the S&P 500, which registered a daily loss of 0.74%. At the same time, the Dow lost 0.63%, and the tech-heavy Nasdaq lost 0.76%.
The company's stock has dropped by 1.8% in the past month, falling short of the Oils-Energy sector's loss of 0.43% and the S&P 500's gain of 0.79%.
Investors will be eagerly watching for the performance of Constellation Energy Corporation in its upcoming earnings disclosure. The company is predicted to post an EPS of $2.17, indicating a 11.07% decline compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $5.48 billion, up 1.83% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $9.3 per share and revenue of $24.35 billion, which would represent changes of +7.27% and +3.31%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Constellation Energy Corporation. Recent revisions tend to reflect the latest near-term business trends. 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 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, 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 0.21% lower within the past month. As of now, Constellation Energy Corporation holds a Zacks Rank of #3 (Hold).
Looking at valuation, Constellation Energy Corporation is presently trading at a Forward P/E ratio of 38.38. Its industry sports an average Forward P/E of 20.3, so one might conclude that Constellation Energy Corporation is trading at a premium comparatively.
It is also worth noting that CEG currently has a PEG ratio of 2.49. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Alternative Energy - Other was holding an average PEG ratio of 1.93 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 107, placing it within the top 44% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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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