In the latest market close, Nextracker (NXT) reached $35.24, with a +0.31% movement compared to the previous day. This move lagged the S&P 500's daily gain of 0.71%. Meanwhile, the Dow gained 1.03%, and the Nasdaq, a tech-heavy index, added 0.6%.

Coming into today, shares of the solar energy equipment supplier had gained 6.2% in the past month. In that same time, the Oils-Energy sector lost 3.93%, while the S&P 500 gained 6.41%.

Analysts and investors alike will be keeping a close eye on the performance of Nextracker in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $0.66, marking a 1.54% rise compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $606.06 million, indicating a 5.7% growth compared to the corresponding quarter of the prior year.

In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $3.20 per share and a revenue of $2.85 billion, indicating changes of +4.58% and +13.96%, respectively, from the former year.

Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Nextracker. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 2.01% lower. Right now, Nextracker possesses a Zacks Rank of #3 (Hold).

In the context of valuation, Nextracker is at present trading with a Forward P/E ratio of 10.98. For comparison, its industry has an average Forward P/E of 13.25, which means Nextracker is trading at a discount to the group.

It is also worth noting that NXT currently has a PEG ratio of 4.07. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. As the market closed yesterday, the Solar industry was having an average PEG ratio of 1.78.

The Solar industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 105, placing it within the top 42% of over 250 industries.

The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.

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 Report

To read this article on Zacks.com click here.

Zacks Investment Research