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Array Technologies, Inc. (ARRY) Stock Dips While Market Gains: Key Facts
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Array Technologies, Inc. (ARRY - Free Report) closed the most recent trading day at $9.03, moving -6.71% from the previous trading session. The stock trailed the S&P 500, which registered a daily gain of 0.64%. On the other hand, the Dow registered a gain of 1.23%, and the technology-centric Nasdaq increased by 0.69%.
Shares of the company witnessed a gain of 22.22% over the previous month, beating the performance of the Oils-Energy sector with its gain of 1.8%, and the S&P 500's gain of 0.55%.
The investment community will be closely monitoring the performance of Array Technologies, Inc. in its forthcoming earnings report. On that day, Array Technologies, Inc. is projected to report earnings of $0 per share, which would represent a year-over-year decline of 100%. Alongside, our most recent consensus estimate is anticipating revenue of $210.84 million, indicating a 23.4% downward movement from the same quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0.67 per share and a revenue of $1.27 billion, representing changes of +11.67% and 0%, respectively, from the prior year.
Any recent changes to analyst estimates for Array Technologies, Inc. should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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 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. Over the past month, there's been a 2.29% rise in the Zacks Consensus EPS estimate. Array Technologies, Inc. is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Array Technologies, Inc. is currently trading at a Forward P/E ratio of 10.01. This denotes a discount relative to the industry average Forward P/E of 16.47.
It is also worth noting that ARRY currently has a PEG ratio of 0.53. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The average PEG ratio for the Solar industry stood at 0.61 at the close of the market yesterday.
The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 45, which puts it in the top 19% 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.
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Array Technologies, Inc. (ARRY) Stock Dips While Market Gains: Key Facts
Array Technologies, Inc. (ARRY - Free Report) closed the most recent trading day at $9.03, moving -6.71% from the previous trading session. The stock trailed the S&P 500, which registered a daily gain of 0.64%. On the other hand, the Dow registered a gain of 1.23%, and the technology-centric Nasdaq increased by 0.69%.
Shares of the company witnessed a gain of 22.22% over the previous month, beating the performance of the Oils-Energy sector with its gain of 1.8%, and the S&P 500's gain of 0.55%.
The investment community will be closely monitoring the performance of Array Technologies, Inc. in its forthcoming earnings report. On that day, Array Technologies, Inc. is projected to report earnings of $0 per share, which would represent a year-over-year decline of 100%. Alongside, our most recent consensus estimate is anticipating revenue of $210.84 million, indicating a 23.4% downward movement from the same quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0.67 per share and a revenue of $1.27 billion, representing changes of +11.67% and 0%, respectively, from the prior year.
Any recent changes to analyst estimates for Array Technologies, Inc. should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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 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. Over the past month, there's been a 2.29% rise in the Zacks Consensus EPS estimate. Array Technologies, Inc. is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Array Technologies, Inc. is currently trading at a Forward P/E ratio of 10.01. This denotes a discount relative to the industry average Forward P/E of 16.47.
It is also worth noting that ARRY currently has a PEG ratio of 0.53. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The average PEG ratio for the Solar industry stood at 0.61 at the close of the market yesterday.
The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 45, which puts it in the top 19% 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.