Constellation Energy Corporation (CEG) closed at $294.84 in the latest trading session, marking a +1.09% move from the prior day. The stock's change was more than the S&P 500's daily gain of 0.69%. Meanwhile, the Dow experienced a rise of 0.47%, and the technology-dominated Nasdaq saw an increase of 0.9%.
Coming into today, shares of the company had gained 1.5% in the past month. In that same time, the Oils-Energy sector gained 14.14%, while the S&P 500 lost 1%.
Market participants will be closely following the financial results of Constellation Energy Corporation in its upcoming release. On that day, Constellation Energy Corporation is projected to report earnings of $2.19 per share, which would represent a year-over-year decline of 10.25%. In the meantime, our current consensus estimate forecasts the revenue to be $5.49 billion, indicating a 1.92% growth compared to the corresponding quarter of the prior year.
CEG's full-year Zacks Consensus Estimates are calling for earnings of $9.34 per share and revenue of $24.38 billion. These results would represent year-over-year changes of +7.73% and +3.43%, respectively.
Any recent changes to analyst estimates for Constellation Energy Corporation should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.67% higher. Currently, Constellation Energy Corporation is carrying a Zacks Rank of #3 (Hold).
With respect to valuation, Constellation Energy Corporation is currently being traded at a Forward P/E ratio of 25.69. This expresses a premium compared to the average Forward P/E of 19.01 of its industry.
We can additionally observe that CEG currently boasts a PEG ratio of 1.67. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The average PEG ratio for the Alternative Energy - Other industry stood at 1.95 at the close of the market yesterday.
The Alternative Energy - Other industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 176, placing it within the bottom 29% of over 250 industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow CEG in the coming trading sessions, be sure to utilize Zacks.com.
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
