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Array Technologies, Inc. (ARRY) Rises But Trails Market: What Investors Should Know
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In the latest trading session, Array Technologies, Inc. (ARRY - Free Report) closed at $6.08, marking a +0.33% move from the previous day. This change lagged the S&P 500's 2.13% gain on the day. At the same time, the Dow added 1.65%, and the tech-heavy Nasdaq gained 2.61%.
Shares of the company have depreciated by 8.32% over the course of the past month, underperforming the Oils-Energy sector's loss of 5.54% and outperforming the S&P 500's loss of 9.57%.
Investors will be eagerly watching for the performance of Array Technologies, Inc. in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $0.08, marking a 33.33% rise compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $262.86 million, indicating a 71.36% growth compared to the corresponding quarter of the prior year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $0.62 per share and revenue of $1.09 billion, indicating changes of +3.33% and +19.17%, respectively, compared to the previous year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Array Technologies, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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. Over the past month, the Zacks Consensus EPS estimate has shifted 22.25% downward. Array Technologies, Inc. is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Array Technologies, Inc. is presently being traded at a Forward P/E ratio of 9.84. Its industry sports an average Forward P/E of 9.38, so one might conclude that Array Technologies, Inc. is trading at a premium comparatively.
One should further note that ARRY currently holds a PEG ratio of 1.24. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. By the end of yesterday's trading, the Solar industry had an average PEG ratio of 0.49.
The Solar industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 71, placing it within the top 29% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
View the Zacks #1 Rank List
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Array Technologies, Inc. (ARRY) Rises But Trails Market: What Investors Should Know
In the latest trading session, Array Technologies, Inc. (ARRY - Free Report) closed at $6.08, marking a +0.33% move from the previous day. This change lagged the S&P 500's 2.13% gain on the day. At the same time, the Dow added 1.65%, and the tech-heavy Nasdaq gained 2.61%.
Shares of the company have depreciated by 8.32% over the course of the past month, underperforming the Oils-Energy sector's loss of 5.54% and outperforming the S&P 500's loss of 9.57%.
Investors will be eagerly watching for the performance of Array Technologies, Inc. in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $0.08, marking a 33.33% rise compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $262.86 million, indicating a 71.36% growth compared to the corresponding quarter of the prior year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $0.62 per share and revenue of $1.09 billion, indicating changes of +3.33% and +19.17%, respectively, compared to the previous year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Array Technologies, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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. Over the past month, the Zacks Consensus EPS estimate has shifted 22.25% downward. Array Technologies, Inc. is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Array Technologies, Inc. is presently being traded at a Forward P/E ratio of 9.84. Its industry sports an average Forward P/E of 9.38, so one might conclude that Array Technologies, Inc. is trading at a premium comparatively.
One should further note that ARRY currently holds a PEG ratio of 1.24. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. By the end of yesterday's trading, the Solar industry had an average PEG ratio of 0.49.
The Solar industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 71, placing it within the top 29% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.