In its upcoming report, NextEra Energy (NEE) is predicted by Wall Street analysts to post quarterly earnings of $0.51 per share, reflecting a decline of 1.9% compared to the same period last year. Revenues are forecasted to be $6.52 billion, representing a year-over-year decrease of 5.3%.
Over the last 30 days, there has been an upward revision of 6.6% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.
With that in mind, let's delve into the average projections of some NextEra metrics that are commonly tracked and projected by analysts on Wall Street.
According to the collective judgment of analysts, 'Operating Revenues- Florida Power & Light (FPL)' should come in at $4.36 billion. The estimate indicates a year-over-year change of +3.9%.
Analysts forecast 'Operating Revenues- NextEra Energy Resources (NEER)' to reach $2.23 billion. The estimate indicates a change of -16.2% from the prior-year quarter.
Based on the collective assessment of analysts, 'Operating Income (Loss)- Florida Power & Light (FPL)' should arrive at $1.14 billion. Compared to the present estimate, the company reported $1.70 billion in the same quarter last year.
The average prediction of analysts places 'Operating Income (Loss)- NextEra Energy Resources (NEER)' at $599.05 million. Compared to the present estimate, the company reported $1.05 billion in the same quarter last year.
View all Key Company Metrics for NextEra here>>>
NextEra shares have witnessed a change of -1.3% in the past month, in contrast to the Zacks S&P 500 composite's -0.4% move. With a Zacks Rank #3 (Hold), NEE is expected closely follow the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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