Over the last 7 days, the Utilities industry has dropped 3.8%, driven by a pullback from Federal Hydro-Generating Company - RusHydro of 5.2%. Meanwhile, FAR-EASTERN ENERGY actually outperformed within the industry, gaining 16% in the last week. However, the industry is down 6.3% over the past year.
Sector Valuation and Performance
Has the Russian Utilities Sector valuation changed over the past few years?
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Current Industry PE: Investors are relatively neutral on the industry at the moment, considering it's trading close to its 3-year average PE ratio of 7.3x. It appears they believe that earnings will grow in-line with historical growth rates.
Past Earnings Growth: The earnings for companies in the Utilities industry have declined 4.5% per year over the last three years, while revenues have remained mostly flat. This means that although sales have remained flat, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.
Which industries have driven the changes within the Russian Utilities sector?
Industry PE: Investors are most optimistic about the Water Utilities industry even though it's trading below its 3-year average PE ratio of 50.1x. It looks like they are confident that earnings will grow faster in the future than they have historically. Meanwhile, investors are most pessimistic about the Gas Utilities industry, which is trading below its 3-year average of 31.2x.
Forecasted Growth: Analysts are most optimistic on the Renewable Energy industry, expecting annual earnings growth of 14% over the next 5 years. However this is lower than its past earnings growth rate of 20% per year. Meanwhile, the Electric Utilities industry is expected to see its earnings growth to stay flat over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?