Constellation Energy Corporation (CEG) Soars 6.2%: Is Further Upside Left in the Stock?

Constellation Energy Corporation (CEG) shares rallied 6.2% in the last trading session to close at $342.52. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 14.8% loss over the past four weeks.Constellation Energy recently completed acquisition of Calpine Corporation. The acquisition creates a diversified 55-GW power platform, combining nuclear, natural gas, and geothermal assets to support the scaling of next-generation clean energy technologies. The merged entity serves 2.5 million residential and business customers nationwide, delivering a broad range of clean and dependable energy solutions with enhanced choice, competitive pricing, and tailored clean energy offerings.In addition, Constellation Energy’s systematic capital investments, focus on renewable energy, and well-run nuclear plants contribute to the strong performance of the company.This company is expected to post quarterly earnings of $2.17 per share in its upcoming report, which represents a year-over-year change of -11.1%. Revenues are expected to be $5.48 billion, up 1.8% from the year-ago quarter.Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.For Constellation Energy Corporation, the consensus EPS estimate for the quarter has been revised 9.5% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on CEG going forward to see if this recent jump can turn into more strength down the road.The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Constellation Energy Corporation is part of the Zacks Alternative Energy - Other industry. Excelerate Energy (EE), another stock in the same industry, closed the last trading session 2.3% higher at $30.45. EE has returned 10.1% in the past month.For Excelerate Energy, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.29. This represents a change of -27.5% from what the company reported a year ago. Excelerate Energy currently has a Zacks Rank of #4 (Sell).5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the favorite stock to gain +100% or more in the months ahead. They includeStock #1: A Disruptive Force with Notable Growth and ResilienceStock #2: Bullish Signs Signaling to Buy the DipStock #3: One of the Most Compelling Investments in the MarketStock #4: Leader In a Red-Hot Industry Poised for GrowthStock #5: Modern Omni-Channel Platform Coiled to SpringMost of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor. While not all picks can be winners, previous recommendations have soared +171%, +209% and +232%.Download Atomic Opportunity: Nuclear Energy's Comeback free today.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Constellation Energy Corporation (CEG): Free Stock Analysis Report Excelerate Energy, Inc. (EE): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks