The latest trading session saw Plug Power (PLUG) ending at $2.41, denoting a +1.26% adjustment from its last day’s close. The stock exceeded the S&P 500, which registered a gain of 1.02% for the day. Meanwhile, the Dow gained 0.4%, and the Nasdaq, a tech-heavy index, added 2.03%.
Prior to today’s trading, shares of the alternative energy company had lost 30.81% over the past month. This has lagged the Industrial Products sector’s loss of 3.17% and the S&P 500’s loss of 3.15% in that time.
The upcoming earnings release of Plug Power will be of great interest to investors. The company is forecasted to report an EPS of -$0.32, showcasing an 8.57% upward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $172.89 million, down 17.79% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$0.94 per share and a revenue of $1.02 billion, signifying shifts of +59.13% and +13.91%, respectively, from the last year.
Investors might also notice recent changes to analyst estimates for Plug Power. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts’ positivity towards the company’s business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we’ve formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.1% downward. Plug Power is holding a Zacks Rank of #3 (Hold) right now.
The Manufacturing – Electronics industry is part of the Industrial Products sector. With its current Zacks Industry Rank of 152, this industry ranks in the bottom 40% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don’t forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Plug Power, Inc. (PLUG) : Free Stock Analysis Report
