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Altus Power, Inc. (AMPS) Gains As Market Dips: What You Should Know
In the latest trading session, Altus Power, Inc. (AMPS - Free Report) closed at $11.01, marking a +1.38% move from the previous day. The stock outpaced the S&P 500's daily loss of 1.51%. Meanwhile, the Dow lost 1.71%, and the Nasdaq, a tech-heavy index, lost 0.02%.
Coming into today, shares of the company had gained 4.12% in the past month. In that same time, the Oils-Energy sector lost 13.2%, while the S&P 500 lost 9.52%.
Wall Street will be looking for positivity from Altus Power, Inc. as it approaches its next earnings report date.
AMPS's full-year Zacks Consensus Estimates are calling for earnings of $0.58 per share and revenue of $105.73 million. These results would represent year-over-year changes of +1066.67% and +47.25%, respectively.
Investors should also note any recent changes to analyst estimates for Altus Power, Inc.These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Within the past 30 days, our consensus EPS projection remained stagnant. Altus Power, Inc. is currently a Zacks Rank #2 (Buy).
Investors should also note Altus Power, Inc.'s current valuation metrics, including its Forward P/E ratio of 18.62. Its industry sports an average Forward P/E of 26, so we one might conclude that Altus Power, Inc. is trading at a discount comparatively.
The Alternative Energy - Other industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 93, which puts it in the top 37% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.