Houston, Texas-based NRG Energy, Inc. (NRG) operates as an energy and home services company. Valued at $18 billion by market cap, the company owns and operates a diverse portfolio of power-generating facilities. It offers energy production and cogeneration facilities, thermal energy production, and energy resource recovery facilities. The leading essential home services platform is expected to announce its fiscal third-quarter earnings for 2024 on Thursday, Nov. 7.

Ahead of the event, analysts expect NRG to report a profit of $1.71 per share on a diluted basis, up 5.6% from $1.62 per share in the year-ago quarter. The company beat the consensus estimates in three of the last four quarters while missing the forecast on another occasion. 

For the full year, analysts expect NRG to report EPS of $5.51, up 27.6% from $4.32 in fiscal 2023. Its EPS is expected to rise 20.7% year over year to $6.65 in fiscal 2025. 

NRG stock has outperformed the S&P 500’s ($SPX) 38.6% gains over the past 52 weeks, with shares up 113.3% during this period. Similarly, it outperformed the Utilities Select Sector SPDR Fund’s (XLU) 40.7% gains over the same time frame.

NRG Energy's success can be credited to its strategic acquisitions which have allowed the company to expand its operations significantly. The addition of Direct Energy and Vivint Smart Home has further strengthened NRG Energy's presence in the market.

On Aug. 8, NRG shares closed up more than 8% after reporting its Q2 results. The company’s revenue stood at $6.7 billion, up 4.9% year over year. Its full-year adjusted EBITDA is estimated to be between $3.5 billion to $3.7 billion.

Analysts’ consensus opinion on NRG stock is reasonably bullish, with a “Moderate Buy” rating overall. Out of nine analysts covering the stock, four advise a “Strong Buy” rating, and five give a “Hold.” NRG’s average analyst price target is $92.50, indicating a potential upside of 7% from the current levels.

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On the date of publication, Neha Panjwani did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.