Constellation Energy Corporation (CEG) is going to report its second-quarter 2024 results on Aug 6. The Zacks Consensus Estimate for CEG's second-quarter revenues is pegged at $5.30 billion, indicating a 2.67% decline from the year-ago reported figure. The consensus estimate for earnings is pegged at $1.43 per share. The Zacks Consensus Estimate for CEG's second-quarter earnings has declined 23.9% in the past 60 days. The estimate suggests a year-over-year decline of 44.1%. | --- | --- | --- | --- | --- | | ...

Constellation Energy Corporation (CEG) shares soared 12.5% in the last trading session to close at $189.80. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 18.2% loss over the past four weeks. Constellation Energy is the largest owner of nuclear plants in the US and produces clean electricity for its customers. It expects to invest nearly $5.1 billion during 2024-2025 period to strengthen its infrastructure and purchase of nuclea ...

Group 1 - Nuclear energy stocks experienced a significant surge after the largest electrical grid operator in the U.S. reported a ninefold increase in power market auction prices year-over-year [1][2] - PJM Interconnection announced that the 2025-2026 prices for power plants reached $262.92 per megawatt-day, compared to $28.92 a year ago, with over 20% of the energy mix expected to come from nuclear energy [2][3] - Constellation Energy's shares rose more than 12%, while Vistra's shares increased nearly 15% following the announcement, with Constellation's shares up over 62% year-to-date and Vistra's shares having doubled [3] Group 2 - The increase in electricity prices is attributed to the retirement of power plants and a surge in electricity demand, particularly driven by data centers supporting artificial intelligence [4] - Advanced Micro Devices reported that its data center revenue more than doubled to a quarterly record high, reflecting the rising demand for chips to power AI-supporting data centers [4] - The International Energy Agency projected that electricity consumption from data centers, AI, and the cryptocurrency sector could double by 2026 [5]

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 ...