In the latest market close, Constellation Energy Corporation (CEG) reached $226.87, with a -0.77% movement compared to the previous day. This move lagged the S&P 500's daily gain of 0.16%. Meanwhile, the Dow experienced a rise of 0.01%, and the technology-dominated Nasdaq saw an increase of 0.46%.
Shares of the company have depreciated by 14.61% over the course of the past month, underperforming the Oils-Energy sector's gain of 1.79% and the S&P 500's loss of 3.59%.
Market participants will be closely following the financial results of Constellation Energy Corporation in its upcoming release. The company is forecasted to report an EPS of $1.98, showcasing an 8.79% upward movement from the corresponding quarter of the prior year. Meanwhile, our latest consensus estimate is calling for revenue of $4.46 billion, down 27.56% from the prior-year quarter.
CEG's full-year Zacks Consensus Estimates are calling for earnings of $9.38 per share and revenue of $21.49 billion. These results would represent year-over-year changes of +8.19% and -8.82%, respectively.
Investors should also note any recent changes to analyst estimates for Constellation Energy Corporation. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.81% higher. Right now, Constellation Energy Corporation possesses a Zacks Rank of #3 (Hold).
Looking at its valuation, Constellation Energy Corporation is holding a Forward P/E ratio of 24.36. This represents a premium compared to its industry's average Forward P/E of 19.09.
Investors should also note that CEG has a PEG ratio of 1.96 right now. 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 2.44 at the close of the market yesterday.
The Alternative Energy - Other industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 134, positioning it in the bottom 47% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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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This article originally published on Zacks Investment Research (zacks.com).
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
