Constellation Energy Corporation (CEG) closed the most recent trading day at $318.25, moving +2.04% from the previous trading session. This change outpaced the S&P 500's 0.79% loss on the day. Elsewhere, the Dow lost 0.94%, while the tech-heavy Nasdaq lost 0.92%.
Prior to today's trading, shares of the company had gained 4.38% lagged the Oils-Energy sector's gain of 6.03% and the S&P 500's gain of 5.22%.
The investment community will be closely monitoring the performance of Constellation Energy Corporation in its forthcoming earnings report. The company is predicted to post an EPS of $2.05, indicating a 22.02% growth compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $5.2 billion, indicating a 5.02% downward movement from the same quarter last year.
CEG's full-year Zacks Consensus Estimates are calling for earnings of $9.45 per share and revenue of $23.99 billion. These results would represent year-over-year changes of +9% and +1.8%, respectively.
It is also important to note the recent changes to analyst estimates for Constellation Energy Corporation. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, there's been a 0.28% rise in the Zacks Consensus EPS estimate. Constellation Energy Corporation is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Constellation Energy Corporation has a Forward P/E ratio of 32.99 right now. This indicates a premium in contrast to its industry's Forward P/E of 20.03.
It's also important to note that CEG currently trades at a PEG ratio of 2.44. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. Alternative Energy - Other stocks are, on average, holding a PEG ratio of 2.35 based on yesterday's closing prices.
The Alternative Energy - Other industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 151, finds itself in the bottom 39% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within 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 follow all of these stock-moving metrics, and many more, on Zacks.com.
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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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