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Array Technologies, Inc. (ARRY) Flat As Market Gains: What You Should Know
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Array Technologies, Inc. (ARRY - Free Report) closed the most recent trading day at $19.62, making no change from the previous trading session. This change lagged the S&P 500's 1.42% gain on the day. Elsewhere, the Dow gained 1%, while the tech-heavy Nasdaq added 5.16%.
Coming into today, shares of the company had gained 4.7% in the past month. In that same time, the Oils-Energy sector lost 4.02%, while the S&P 500 gained 0.27%.
Investors will be hoping for strength from Array Technologies, Inc. as it approaches its next earnings release. On that day, Array Technologies, Inc. is projected to report earnings of $0.04 per share, which would represent year-over-year growth of 300%. Our most recent consensus estimate is calling for quarterly revenue of $334.81 million, up 11.38% from the year-ago period.
ARRY's full-year Zacks Consensus Estimates are calling for earnings of $0.82 per share and revenue of $1.89 billion. These results would represent year-over-year changes of +115.79% and +15.07%, respectively.
Investors should also note any recent changes to analyst estimates for Array Technologies, Inc.These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 14.36% lower. Array Technologies, Inc. is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Array Technologies, Inc. has a Forward P/E ratio of 24.01 right now. This represents a discount compared to its industry's average Forward P/E of 26.72.
The Solar industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 99, putting it in the top 40% of all 250+ industries.
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.
To follow ARRY in the coming trading sessions, be sure to utilize Zacks.com.
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Array Technologies, Inc. (ARRY) Flat As Market Gains: What You Should Know
Array Technologies, Inc. (ARRY - Free Report) closed the most recent trading day at $19.62, making no change from the previous trading session. This change lagged the S&P 500's 1.42% gain on the day. Elsewhere, the Dow gained 1%, while the tech-heavy Nasdaq added 5.16%.
Coming into today, shares of the company had gained 4.7% in the past month. In that same time, the Oils-Energy sector lost 4.02%, while the S&P 500 gained 0.27%.
Investors will be hoping for strength from Array Technologies, Inc. as it approaches its next earnings release. On that day, Array Technologies, Inc. is projected to report earnings of $0.04 per share, which would represent year-over-year growth of 300%. Our most recent consensus estimate is calling for quarterly revenue of $334.81 million, up 11.38% from the year-ago period.
ARRY's full-year Zacks Consensus Estimates are calling for earnings of $0.82 per share and revenue of $1.89 billion. These results would represent year-over-year changes of +115.79% and +15.07%, respectively.
Investors should also note any recent changes to analyst estimates for Array Technologies, Inc.These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 14.36% lower. Array Technologies, Inc. is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Array Technologies, Inc. has a Forward P/E ratio of 24.01 right now. This represents a discount compared to its industry's average Forward P/E of 26.72.
The Solar industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 99, putting it in the top 40% of all 250+ industries.
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.
To follow ARRY in the coming trading sessions, be sure to utilize Zacks.com.