Why the Market Dipped But Constellation Energy Corporation (CEG) Gained Today

Constellation Energy Corporation (CEG) closed the latest trading day at $347.44, indicating a +0.35% change from the previous session's end. The stock exceeded the S&P 500, which registered a loss of 0.29% for the day. Meanwhile, the Dow lost 0.32%, and the Nasdaq, a tech-heavy index, lost 0.5%.Coming into today, shares of the company had gained 51.43% in the past month. In that same time, the Oils-Energy sector lost 1.71%, while the S&P 500 gained 2.52%.The upcoming earnings release of Constellation Energy Corporation will be of great interest to investors. The company is expected to report EPS of $2.20, up 2100% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $5.51 billion, indicating a 4.87% downward movement from the same quarter last year.It's also important for investors to be aware of any recent modifications to analyst estimates for Constellation Energy Corporation. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Over the past month, there's been a 2.55% rise in the Zacks Consensus EPS estimate. At present, Constellation Energy Corporation boasts a Zacks Rank of #1 (Strong Buy).Valuation is also important, so investors should note that Constellation Energy Corporation has a Forward P/E ratio of 36.95 right now. This indicates a premium in contrast to its industry's Forward P/E of 17.78.Also, we should mention that CEG has a PEG ratio of 1.85. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. CEG's industry had an average PEG ratio of 1.9 as of yesterday's close.The Alternative Energy - Other industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 51, positioning it in the top 21% 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.To follow CEG in the coming trading sessions, be sure to utilize Zacks.com.Zacks Names #1 Semiconductor StockIt's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.See This Stock Now for Free >>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 Constellation Energy Corporation (CEG): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks