Nextpower (NXT) closed at $79.13 in the latest trading session, marking a -2.13% move from the prior day. This change lagged the S&P 500's daily loss of 0.77%. On the other hand, the Dow registered a loss of 0.67%, and the technology-centric Nasdaq decreased by 0.92%.
Heading into today, shares of the solar energy equipment supplier had lost 5.37% over the past month, lagging the Oils-Energy sector's gain of 1.13% and the S&P 500's gain of 0.96%.
Investors will be eagerly watching for the performance of Nextpower in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $1.11, reflecting a 6.72% decrease from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $1.08 billion, up 19.17% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $4.67 per share and a revenue of $4.38 billion, signifying shifts of +3.78% and +23.04%, respectively, from the last year.
Any recent changes to analyst estimates for Nextpower should also be noted by investors. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, there's been a 1.54% rise in the Zacks Consensus EPS estimate. As of now, Nextpower holds a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Nextpower has a Forward P/E ratio of 17.32 right now. This represents a premium compared to its industry average Forward P/E of 13.39.
Also, we should mention that NXT has a PEG ratio of 1.29. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. NXT's industry had an average PEG ratio of 0.64 as of yesterday's close.
The Solar industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 233, positioning it in the bottom 6% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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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Nextpower Inc. (NXT): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).