Constellation Energy Corporation (CEG) closed the most recent trading day at $287.35, moving -2.38% from the previous trading session. This change lagged the S&P 500's daily gain of 0.55%. Meanwhile, the Dow gained 0.63%, and the Nasdaq, a tech-heavy index, added 0.91%.
Coming into today, shares of the company had lost 19.12% in the past month. In that same time, the Oils-Energy sector gained 7.71%, while the S&P 500 gained 0.71%.
The investment community will be closely monitoring the performance of Constellation Energy Corporation in its forthcoming earnings report. The company is expected to report EPS of $2.17, down 11.07% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.48 billion, up 1.83% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $9.3 per share and a revenue of $24.35 billion, indicating changes of +7.27% and 0%, respectively, from the former year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Constellation Energy Corporation. These revisions typically reflect the latest short-term business trends, which can change frequently. 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 utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Constellation Energy Corporation is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Constellation Energy Corporation is presently being traded at a Forward P/E ratio of 26.1. This denotes a premium relative to the industry average Forward P/E of 18.9.
It is also worth noting that CEG currently has a PEG ratio of 1.69. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Alternative Energy - Other industry currently had an average PEG ratio of 1.38 as of yesterday's close.
The Alternative Energy - Other industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 167, placing it within the bottom 32% of over 250 industries.
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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming 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
