In the latest trading session, Constellation Energy Corporation (CEG) closed at $244.52, marking a +2.01% move from the previous day. This move outpaced the S&P 500's daily loss of 0.28%. At the same time, the Dow lost 1.09%, and the tech-heavy Nasdaq gained 0.2%.
Shares of the company have depreciated by 4.74% over the course of the past month, underperforming the Oils-Energy sector's loss of 4.3%, and the S&P 500's gain of 1.64%.
Investors will be eagerly watching for the performance of Constellation Energy Corporation in its upcoming earnings disclosure. The company is forecasted to report an EPS of $2.24, showcasing a 17.28% upward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $7.51 billion, reflecting a 23.16% rise from the equivalent quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $11.74 per share and a revenue of $35.48 billion, signifying shifts of +25.03% and +38.95%, respectively, from the last year.
Investors should also note any recent changes to analyst estimates for Constellation Energy Corporation. These revisions typically reflect the latest short-term business trends, which can change frequently. 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 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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.07% increase. Right now, Constellation Energy Corporation possesses a Zacks Rank of #3 (Hold).
In terms of valuation, Constellation Energy Corporation is presently being traded at a Forward P/E ratio of 20.42. Its industry sports an average Forward P/E of 17.86, so one might conclude that Constellation Energy Corporation is trading at a premium comparatively.
Investors should also note that CEG has a PEG ratio of 0.94 right now. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As of the close of trade yesterday, the Alternative Energy - Other industry held an average PEG ratio of 2.03.
The Alternative Energy - Other industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 100, putting it in the top 41% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Constellation Energy Corporation (CEG): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).