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Plug Power (PLUG) Sees a More Significant Dip Than Broader Market: Some Facts to Know
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Plug Power (PLUG - Free Report) closed at $6.40 in the latest trading session, marking a -1.99% move from the prior day. This change lagged the S&P 500's 0.13% loss on the day. Elsewhere, the Dow saw a downswing of 0.03%, while the tech-heavy Nasdaq depreciated by 0.12%.
The the stock of alternative energy company has fallen by 22.72% in the past month, lagging the Industrial Products sector's loss of 7.73% and the S&P 500's loss of 5.53%.
The upcoming earnings release of Plug Power will be of great interest to investors. The company is forecasted to report an EPS of -$0.31, showcasing a 3.33% downward movement from the corresponding quarter of the prior year. Meanwhile, our latest consensus estimate is calling for revenue of $328.2 million, up 73.99% from the prior-year quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$1.26 per share and a revenue of $1.29 billion, representing changes of -0.8% and +83.65%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Plug Power. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.27% lower. As of now, Plug Power holds a Zacks Rank of #3 (Hold).
The Manufacturing - Electronics industry is part of the Industrial Products sector. With its current Zacks Industry Rank of 158, this industry ranks in the bottom 38% of all industries, numbering over 250.
The Zacks Industry Rank is ordered 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.
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Plug Power (PLUG) Sees a More Significant Dip Than Broader Market: Some Facts to Know
Plug Power (PLUG - Free Report) closed at $6.40 in the latest trading session, marking a -1.99% move from the prior day. This change lagged the S&P 500's 0.13% loss on the day. Elsewhere, the Dow saw a downswing of 0.03%, while the tech-heavy Nasdaq depreciated by 0.12%.
The the stock of alternative energy company has fallen by 22.72% in the past month, lagging the Industrial Products sector's loss of 7.73% and the S&P 500's loss of 5.53%.
The upcoming earnings release of Plug Power will be of great interest to investors. The company is forecasted to report an EPS of -$0.31, showcasing a 3.33% downward movement from the corresponding quarter of the prior year. Meanwhile, our latest consensus estimate is calling for revenue of $328.2 million, up 73.99% from the prior-year quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$1.26 per share and a revenue of $1.29 billion, representing changes of -0.8% and +83.65%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Plug Power. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.27% lower. As of now, Plug Power holds a Zacks Rank of #3 (Hold).
The Manufacturing - Electronics industry is part of the Industrial Products sector. With its current Zacks Industry Rank of 158, this industry ranks in the bottom 38% of all industries, numbering over 250.
The Zacks Industry Rank is ordered 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.