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Here's Why Plug Power (PLUG) Gained But Lagged the Market Today
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In the latest trading session, Plug Power (PLUG - Free Report) closed at $2.52, marking a +0.4% move from the previous day. The stock's performance was behind the S&P 500's daily gain of 1.23%. Elsewhere, the Dow gained 1.02%, while the tech-heavy Nasdaq added 1.43%.
The alternative energy company's shares have seen an increase of 11.56% over the last month, surpassing the Industrial Products sector's loss of 0.89% and the S&P 500's loss of 0.54%.
Analysts and investors alike will be keeping a close eye on the performance of Plug Power in its upcoming earnings disclosure. The company's earnings report is set to go public on November 12, 2024. On that day, Plug Power is projected to report earnings of -$0.25 per share, which would represent year-over-year growth of 46.81%. Simultaneously, our latest consensus estimate expects the revenue to be $210.8 million, showing a 6.08% escalation compared to the year-ago quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$1.15 per share and revenue of $815.51 million, indicating changes of +50% and -8.51%, respectively, compared to the previous year.
Investors should also take note of any recent adjustments to analyst estimates for Plug Power. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 1.61% lower. At present, Plug Power boasts a Zacks Rank of #3 (Hold).
The Manufacturing - Electronics industry is part of the Industrial Products sector. With its current Zacks Industry Rank of 169, this industry ranks in the bottom 33% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow PLUG in the coming trading sessions, be sure to utilize Zacks.com.
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Here's Why Plug Power (PLUG) Gained But Lagged the Market Today
In the latest trading session, Plug Power (PLUG - Free Report) closed at $2.52, marking a +0.4% move from the previous day. The stock's performance was behind the S&P 500's daily gain of 1.23%. Elsewhere, the Dow gained 1.02%, while the tech-heavy Nasdaq added 1.43%.
The alternative energy company's shares have seen an increase of 11.56% over the last month, surpassing the Industrial Products sector's loss of 0.89% and the S&P 500's loss of 0.54%.
Analysts and investors alike will be keeping a close eye on the performance of Plug Power in its upcoming earnings disclosure. The company's earnings report is set to go public on November 12, 2024. On that day, Plug Power is projected to report earnings of -$0.25 per share, which would represent year-over-year growth of 46.81%. Simultaneously, our latest consensus estimate expects the revenue to be $210.8 million, showing a 6.08% escalation compared to the year-ago quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$1.15 per share and revenue of $815.51 million, indicating changes of +50% and -8.51%, respectively, compared to the previous year.
Investors should also take note of any recent adjustments to analyst estimates for Plug Power. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 1.61% lower. At present, Plug Power boasts a Zacks Rank of #3 (Hold).
The Manufacturing - Electronics industry is part of the Industrial Products sector. With its current Zacks Industry Rank of 169, this industry ranks in the bottom 33% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow PLUG in the coming trading sessions, be sure to utilize Zacks.com.