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Array Technologies, Inc. (ARRY) Outpaces Stock Market Gains: What You Should Know
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Array Technologies, Inc. (ARRY - Free Report) closed the most recent trading day at $21.11, moving +0.67% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.09%. At the same time, the Dow added 0.07%, and the tech-heavy Nasdaq gained 0.98%.
Prior to today's trading, shares of the company had gained 5.86% over the past month. This has lagged the Oils-Energy sector's gain of 8.83% and outpaced the S&P 500's gain of 4.59% in that time.
Investors will be hoping for strength from Array Technologies, Inc. as it approaches its next earnings release, which is expected to be May 9, 2023. In that report, analysts expect Array Technologies, Inc. to post earnings of $0.04 per share. This would mark year-over-year growth of 300%. Meanwhile, our latest consensus estimate is calling for revenue of $322.43 million, up 7.27% from the prior-year quarter.
ARRY's full-year Zacks Consensus Estimates are calling for earnings of $0.82 per share and revenue of $1.9 billion. These results would represent year-over-year changes of +115.79% and +15.39%, respectively.
Investors should also note any recent changes to analyst estimates for Array Technologies, Inc.These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.81% lower. Array Technologies, Inc. is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Array Technologies, Inc. currently has a Forward P/E ratio of 25.48. This represents a discount compared to its industry's average Forward P/E of 27.9.
The Solar industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 83, putting it in the top 33% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Array Technologies, Inc. (ARRY) Outpaces Stock Market Gains: What You Should Know
Array Technologies, Inc. (ARRY - Free Report) closed the most recent trading day at $21.11, moving +0.67% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.09%. At the same time, the Dow added 0.07%, and the tech-heavy Nasdaq gained 0.98%.
Prior to today's trading, shares of the company had gained 5.86% over the past month. This has lagged the Oils-Energy sector's gain of 8.83% and outpaced the S&P 500's gain of 4.59% in that time.
Investors will be hoping for strength from Array Technologies, Inc. as it approaches its next earnings release, which is expected to be May 9, 2023. In that report, analysts expect Array Technologies, Inc. to post earnings of $0.04 per share. This would mark year-over-year growth of 300%. Meanwhile, our latest consensus estimate is calling for revenue of $322.43 million, up 7.27% from the prior-year quarter.
ARRY's full-year Zacks Consensus Estimates are calling for earnings of $0.82 per share and revenue of $1.9 billion. These results would represent year-over-year changes of +115.79% and +15.39%, respectively.
Investors should also note any recent changes to analyst estimates for Array Technologies, Inc.These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.81% lower. Array Technologies, Inc. is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Array Technologies, Inc. currently has a Forward P/E ratio of 25.48. This represents a discount compared to its industry's average Forward P/E of 27.9.
The Solar industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 83, putting it in the top 33% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.