Constellation Energy Corporation [NASDAQ: CEG] gained 16.92% or 22.54 points to close at $155.76 with a heavy trading volume of 4881034 shares. The company report on February 27, 2024 at 5:55 AM that Constellation Reports Fourth Quarter and Full Year 2023 Results.
Earnings Release Highlights.
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GAAP Net Loss of ($36) million and Adjusted EBITDA (non-GAAP) of $1,137 million for the fourth quarter of 2023. GAAP Net Income of $1,623 million and Adjusted EBITDA (non-GAAP) of $4,025 million for the full year 2023, exceeding the top end of our guidance range of $3,800 million to $4,000 million.
The daily chart for CEG points out that the company has recorded 47.12% gains over the past six months.
If we look at the average trading volume of 1.73M shares, CEG reached to a volume of 4881034 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Constellation Energy Corporation [CEG]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CEG shares is $135.22 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CEG stock is a recommendation set at 1.91. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Seaport Research Partners have made an estimate for Constellation Energy Corporation shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on November 29, 2023. The new note on the price target was released on June 21, 2023, representing the official price target for Constellation Energy Corporation stock. Previously, the target price had yet another drop from $91 to $83, while Credit Suisse kept a Neutral rating on CEG stock. On February 21, 2023, analysts decreased their price target for CEG shares from 104 to 88.
The Average True Range (ATR) for Constellation Energy Corporation is set at 4.36, with the Price to Sales ratio for CEG stock in the period of the last 12 months amounting to 2.16. The Price to Book ratio for the last quarter was 4.26, with the Price to Cash per share for the same quarter was set at 6.20.
Trading performance analysis for CEG stock
Constellation Energy Corporation [CEG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 18.18. With this latest performance, CEG shares gained by 28.44% in over the last four-week period, additionally plugging by 47.12% over the last 6 months – not to mention a rise of 96.49% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CEG stock in for the last two-week period is set at 83.67, with the RSI for the last a single of trading hit 88.69, and the three-weeks RSI is set at 79.16 for Constellation Energy Corporation [CEG]. The present Moving Average for the last 50 days of trading for this stock 122.36, while it was recorded at 137.55 for the last single week of trading, and 108.66 for the last 200 days.
Constellation Energy Corporation [CEG]: A deeper dive into fundamental analysis
Constellation Energy Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.61 and a Current Ratio set at 1.88.
Constellation Energy Corporation [CEG]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Constellation Energy Corporation posted 0.1/share EPS, while the average EPS was predicted by analysts to be reported at 1.23/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -91.90%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CEG. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Constellation Energy Corporation go to 26.30%.
An analysis of Institutional ownership at Constellation Energy Corporation [CEG]
The top three institutional holders of CEG stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in CEG stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in CEG stock with ownership which is approximately 5.8325%.
