Group 1: Technical Analysis - The hammer chart pattern formed in Constellation Energy Corporation (CEG) indicates potential support and a possible trend reversal after a recent decline of 7.5% over the past week [3] - A hammer pattern suggests that selling pressure may be subsiding, signaling a nearing bottom in the stock price [3] - Hammer candles can occur on any timeframe and are utilized by both short-term and long-term investors, but should be used in conjunction with other bullish indicators for confirmation [1] Group 2: Fundamental Analysis - There has been a positive trend in earnings estimate revisions for CEG, with a 0.6% increase in the consensus EPS estimate over the last 30 days, indicating analysts expect better earnings [2] - CEG holds a Zacks Rank of 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks, which typically outperform the market [2] - The strong agreement among Wall Street analysts in raising earnings estimates enhances the prospects for a trend reversal for CEG [3]

Core Viewpoint - Constellation Energy Corporation (CEG) has experienced a significant downtrend, with a 16.8% decline in stock price over the past four weeks, but it is now in oversold territory, suggesting a potential turnaround due to improved earnings expectations from analysts [1][2]. Group 1: Stock Performance - CEG's stock has declined 16.8% over the past four weeks, indicating strong selling pressure [1]. - The stock is currently in oversold territory, with an RSI reading of 25.76, suggesting that the heavy selling may be exhausting itself [2][3]. Group 2: Analyst Expectations - There is strong consensus among sell-side analysts that CEG will report better earnings than previously predicted, with the consensus EPS estimate increasing by 0.6% over the last 30 days [3]. - CEG holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimate revisions and EPS surprises, indicating a favorable outlook for a potential turnaround [3].

Alternative energy operators, in order to maintain, upgrade and expand operations, approach capital markets for loans as the funds generated from internal sources are not always sufficient. Therefore, a low interest rate regime is beneficial for the electric power industry. The CME FedWatch tool currently shows that market participants are highly optimistic about two rate cuts of 25 basis points each in 2024. Consequently, operators planning to invest large amounts in infrastructure upgrades and add renewab ...

The upcoming earnings release of Constellation Energy Corporation will be of great interest to investors. The company's earnings report is expected on August 6, 2024. The company is expected to report EPS of $1.57, down 38.67% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.3 billion, down 2.67% from the year-ago period. Investors should also note any recent changes to analyst estimates for Constellation Energy Corporation. Recent revisions tend ...

Shares of Constellation Energy (CEG -1.56%) rocketed 71.3% in the first half of 2024, according to data from S&P Global Market Intelligence. That easily outperformed the S&P 500, which got off to a strong start by rallying 14.5% in the first half. The clean-energy producer's stock surged because of its strong financial outlook and a growing belief that technology companies will use nuclear energy to power their AI data centers. What powered Constellation Energy's first-half surge? The power company also set ...

This includes renewables, electric vehicles, nuclear power, low-emission fuels and efficiency improvements. The surge in the allocation to clean energy sources is indicative of the momentum behind global economies increasing their attention toward achieving net zero carbon emissions. NextEra Energy Partners LP (NEP) has completed several financing agreements to secure funds for acquisitions and improve financial flexibility. The passage of the Inflation Reduction Act and the use of new technology are helpin ...

The "Magnificent Seven" is the biggest engine of growth for the S&P 500, accounting for 31% of the weightage in the index. About 60% of the gains were driven by "mega-cap" tech companies — NVIDIA, Microsoft, Amazon, Meta Platforms and Apple. NVIDIA alone accounted for 31% of the market's first-half advance. With the latest surge, NVIDIA, Apple and Microsoft are in the race to become the world's most valuable company and hit a market capitalization of $4 trillion on surging enthusiasm over AI capabilities. T ...

That's where Constellation Energy comes into play. It's the country's largest producer of carbon-free energy due mainly to its leading nuclear fleet. The company could benefit from increasing demand for nuclear energy to power data centers in the coming years. That has helped fuel its massive rally over the past year. The AI investment frenzy has driven up semiconductor stocks like Nvidia. However, chip sellers aren't the only ones benefiting from the AI boom. One potential beneficiary that might come as a ...

Loading... Loading... While the broader market had its ups and downs in the first half of 2024, two utility stocks have defied expectations, delivering stellar returns and significantly outpacing their peers. The Utility sector, tracked by the SPDR Select Sector Fund – Utilities XLU, is up over 8% year-to-date, but Vistra Corp. VST and Constellation Energy Corp. CEG have soared to new heights, making them the standout performers in the sector. Vistra: A Shocking Surge Vistra has been the lightning bolt in t ...

The industry's position in the top 50% of the Zacks-ranked industries is due to a positive earnings outlook for the constituent companies in aggregate. Looking at the aggregate earnings estimate revisions, it appears that analysts have gained confidence in this group's earnings growth potential over the past few months. The industry's earnings estimate for the current fiscal year has moved up 4.1% to $1.78 per share since Apr 30. NextrEra Energy Partners: Based in Juno Beach, FL, it is a growth-oriented lim ...