E.ON SE (EONGY) closed at $12.72 in the latest trading session, marking a +1.68% move from the prior day. The stock outpaced the S&P 500’s daily gain of 1.23%. Elsewhere, the Dow gained 0.84%, while the tech-heavy Nasdaq lost 2.24%.
Heading into today, shares of the company had gained 3.05% over the past month, outpacing the Utilities sector’s gain of 1.04% and lagging the S&P 500’s gain of 4.67% in that time.
Investors will be hoping for strength from E.ON SE as it approaches its next earnings release.
Investors should also note any recent changes to analyst estimates for E.ON SE. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company’s business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 7.92% higher. E.ON SE currently has a Zacks Rank of #2 (Buy).
Investors should also note E.ON SE’s current valuation metrics, including its Forward P/E ratio of 11.48. This represents a discount compared to its industry’s average Forward P/E of 16.5.
The Utility – Electric Power industry is part of the Utilities sector. This industry currently has a Zacks Industry Rank of 65, which puts it in the top 26% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.
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