In the latest trading session, Constellation Energy Corporation (CEG) closed at $320.66, marking a +1.73% move from the previous day. The stock exceeded the S&P 500, which registered a gain of 1.11% for the day. Meanwhile, the Dow experienced a rise of 1.19%, and the technology-dominated Nasdaq saw an increase of 1.43%.
Heading into today, shares of the company had gained 5.96% over the past month, outpacing the Oils-Energy sector's gain of 5.39% and the S&P 500's gain of 3.92%.
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 $2.06, up 22.62% from the prior-year quarter. Simultaneously, our latest consensus estimate expects the revenue to be $5.2 billion, showing a 4.97% drop compared to the year-ago quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $9.45 per share and a revenue of $23.78 billion, indicating changes of +9% and +0.9%, respectively, from the former year.
Investors might also notice recent changes to analyst estimates for Constellation Energy Corporation. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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, the Zacks Consensus EPS estimate has shifted 0.03% upward. As of now, Constellation Energy Corporation holds a Zacks Rank of #3 (Hold).
Investors should also note Constellation Energy Corporation's current valuation metrics, including its Forward P/E ratio of 33.35. This expresses a premium compared to the average Forward P/E of 19.43 of its industry.
It's also important to note that CEG currently trades at a PEG ratio of 2.47. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. By the end of yesterday's trading, the Alternative Energy - Other industry had an average PEG ratio of 2.19.
The Alternative Energy - Other industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 159, this industry ranks in the bottom 36% of all industries, numbering over 250.
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.
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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Constellation Energy Corporation (CEG): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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