Uranium Energy (UEC) Stock Slides as Market Rises: Facts to Know Before You Trade
Uranium Energy (UEC) closed the latest trading day at $6.95, indicating a -1.7% change from the previous session's end. The stock's change was less than the S&P 500's daily gain of 0.92%. Elsewhere, the Dow saw an upswing of 0.31%, while the tech-heavy Nasdaq appreciated by 2.03%.Heading into today, shares of the uranium mining and exploration company had gained 2.91% over the past month, outpacing the Basic Materials sector's gain of 1.86% and the S&P 500's gain of 0.81% in that time.Market participants will be closely following the financial results of Uranium Energy in its upcoming release. In that report, analysts expect Uranium Energy to post earnings of $0 per share. This would mark a year-over-year decline of 100%. Simultaneously, our latest consensus estimate expects the revenue to be $41.4 million, showing a 34400% escalation compared to the year-ago quarter.For the full year, the Zacks Consensus Estimates project earnings of $0.02 per share and a revenue of $129.85 million, demonstrating changes of +122.22% and +57868.75%, respectively, from the preceding year.It's also important for investors to be aware of any recent modifications to analyst estimates for Uranium Energy. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Uranium Energy currently has a Zacks Rank of #4 (Sell).In the context of valuation, Uranium Energy is at present trading with a Forward P/E ratio of 353.5. This indicates a premium in contrast to its industry's Forward P/E of 11.59.The Mining - Miscellaneous industry is part of the Basic Materials sector. With its current Zacks Industry Rank of 133, this industry ranks in the bottom 48% of all industries, numbering over 250.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.You can find more information on all of these metrics, and much more, on Zacks.com.5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>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 Uranium Energy Corp. (UEC): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks
Quelle: Zacks