The most recent trading session ended with Nextracker (NXT) standing at $37.46, reflecting a +0.62% shift from the previouse trading day's closing. This change outpaced the S&P 500's 0.16% loss on the day. Elsewhere, the Dow saw an upswing of 0.09%, while the tech-heavy Nasdaq depreciated by 0.3%.

Heading into today, shares of the solar energy equipment supplier had lost 7.02% over the past month, lagging the Oils-Energy sector's gain of 0.93% and the S&P 500's gain of 3.64% in that time.

Investors will be eagerly watching for the performance of Nextracker in its upcoming earnings disclosure. On that day, Nextracker is projected to report earnings of $0.66 per share, which would represent year-over-year growth of 1.54%. Our most recent consensus estimate is calling for quarterly revenue of $620.73 million, up 8.26% from the year-ago period.

NXT's full-year Zacks Consensus Estimates are calling for earnings of $3.13 per share and revenue of $2.85 billion. These results would represent year-over-year changes of +2.29% and +14.05%, respectively.

Investors should also take note of any recent adjustments to analyst estimates for Nextracker. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. At present, Nextracker boasts a Zacks Rank of #5 (Strong Sell).

Digging into valuation, Nextracker currently has a Forward P/E ratio of 11.9. This represents a discount compared to its industry's average Forward P/E of 13.77.

It is also worth noting that NXT currently has a PEG ratio of 4.41. 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 1.79.

The Solar industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 166, finds itself in the bottom 35% echelons of all 250+ industries.