Nextracker (NXT) Outperforms Broader Market: What You Need to Know

In the latest trading session, Nextracker (NXT) closed at $45.18, marking a +1.57% move from the previous day. The stock exceeded the S&P 500, which registered a gain of 1.08% for the day. On the other hand, the Dow registered a gain of 0.92%, and the technology-centric Nasdaq increased by 1.41%.Heading into today, shares of the solar energy equipment supplier had lost 7.89% over the past month, lagging the Oils-Energy sector's loss of 2.69% and outpacing the S&P 500's loss of 8.26% in that time.Market participants will be closely following the financial results of Nextracker in its upcoming release. In that report, analysts expect Nextracker to post earnings of $0.97 per share. This would mark year-over-year growth of 1.04%. At the same time, our most recent consensus estimate is projecting a revenue of $820.49 million, reflecting a 11.4% rise from the equivalent quarter last year.In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $3.89 per share and a revenue of $2.86 billion, indicating changes of +27.12% and +14.22%, respectively, from the former year.Investors might also notice recent changes to analyst estimates for Nextracker. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. As of now, Nextracker holds a Zacks Rank of #2 (Buy).From a valuation perspective, Nextracker is currently exchanging hands at a Forward P/E ratio of 11.44. For comparison, its industry has an average Forward P/E of 10.7, which means Nextracker is trading at a premium to the group.The Solar industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 58, putting it in the top 24% of all 250+ industries.The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.You can find more information on all of these metrics, and much more, on Zacks.com.7 Best Stocks for the Next 30 DaysJust released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."Since 1988, the full list has beaten the market more than 2X over with an average gain of +24.3% per year. So be sure to give these hand picked 7 your immediate attention. See them now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Nextracker Inc. (NXT): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks