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Array Technologies, Inc. (ARRY) Dips More Than Broader Markets: What You Should Know
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Array Technologies, Inc. (ARRY - Free Report) closed at $20.80 in the latest trading session, marking a -1.56% move from the prior day. This change lagged the S&P 500's daily loss of 0.03%. At the same time, the Dow lost 0.46%, and the tech-heavy Nasdaq gained 3.16%.
Heading into today, shares of the company had lost 9.97% over the past month, lagging the Oils-Energy sector's gain of 0.95% and the S&P 500's gain of 3.6% in that time.
Array Technologies, Inc. will be looking to display strength as it nears its next earnings release. In that report, analysts expect Array Technologies, Inc. to post earnings of $0.11 per share. This would mark year-over-year growth of 283.33%. Meanwhile, our latest consensus estimate is calling for revenue of $332.4 million, up 51.17% from the prior-year quarter.
It is also important to note the recent changes to analyst estimates for Array Technologies, Inc.These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.16% lower. Array Technologies, Inc. is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Array Technologies, Inc. is holding a Forward P/E ratio of 22.8. This valuation marks a discount compared to its industry's average Forward P/E of 32.99.
The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 48, which puts it in the top 20% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Array Technologies, Inc. (ARRY) Dips More Than Broader Markets: What You Should Know
Array Technologies, Inc. (ARRY - Free Report) closed at $20.80 in the latest trading session, marking a -1.56% move from the prior day. This change lagged the S&P 500's daily loss of 0.03%. At the same time, the Dow lost 0.46%, and the tech-heavy Nasdaq gained 3.16%.
Heading into today, shares of the company had lost 9.97% over the past month, lagging the Oils-Energy sector's gain of 0.95% and the S&P 500's gain of 3.6% in that time.
Array Technologies, Inc. will be looking to display strength as it nears its next earnings release. In that report, analysts expect Array Technologies, Inc. to post earnings of $0.11 per share. This would mark year-over-year growth of 283.33%. Meanwhile, our latest consensus estimate is calling for revenue of $332.4 million, up 51.17% from the prior-year quarter.
It is also important to note the recent changes to analyst estimates for Array Technologies, Inc.These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.16% lower. Array Technologies, Inc. is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Array Technologies, Inc. is holding a Forward P/E ratio of 22.8. This valuation marks a discount compared to its industry's average Forward P/E of 32.99.
The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 48, which puts it in the top 20% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.