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Plug Power (PLUG) Outpaces Stock Market Gains: What You Should Know
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In the latest trading session, Plug Power (PLUG - Free Report) closed at $11.25, marking a +1.99% move from the previous day. This move outpaced the S&P 500's daily gain of 0.57%. Meanwhile, the Dow gained 0.43%, and the Nasdaq, a tech-heavy index, added 0.33%.
Prior to today's trading, shares of the alternative energy company had lost 22.38% over the past month. This has lagged the Industrial Products sector's loss of 3.16% and the S&P 500's gain of 1.72% in that time.
Investors will be hoping for strength from Plug Power as it approaches its next earnings release. On that day, Plug Power is projected to report earnings of -$0.24 per share, which would represent year-over-year growth of 11.11%. Our most recent consensus estimate is calling for quarterly revenue of $223.78 million, up 58.94% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.73 per share and revenue of $1.33 billion, which would represent changes of +41.6% and +89.16%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Plug Power. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. The Zacks Consensus EPS estimate has moved 5.45% lower within the past month. Plug Power currently has a Zacks Rank of #3 (Hold).
The Manufacturing - Electronics industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 66, which puts it in the top 27% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
View the Zacks #1 Rank List
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Plug Power (PLUG) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Plug Power (PLUG - Free Report) closed at $11.25, marking a +1.99% move from the previous day. This move outpaced the S&P 500's daily gain of 0.57%. Meanwhile, the Dow gained 0.43%, and the Nasdaq, a tech-heavy index, added 0.33%.
Prior to today's trading, shares of the alternative energy company had lost 22.38% over the past month. This has lagged the Industrial Products sector's loss of 3.16% and the S&P 500's gain of 1.72% in that time.
Investors will be hoping for strength from Plug Power as it approaches its next earnings release. On that day, Plug Power is projected to report earnings of -$0.24 per share, which would represent year-over-year growth of 11.11%. Our most recent consensus estimate is calling for quarterly revenue of $223.78 million, up 58.94% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.73 per share and revenue of $1.33 billion, which would represent changes of +41.6% and +89.16%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Plug Power. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. The Zacks Consensus EPS estimate has moved 5.45% lower within the past month. Plug Power currently has a Zacks Rank of #3 (Hold).
The Manufacturing - Electronics industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 66, which puts it in the top 27% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.