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Array Technologies, Inc. (ARRY) Registers a Bigger Fall Than the Market: Important Facts to Note
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In the latest close session, Array Technologies, Inc. (ARRY - Free Report) was down 6.7% at $9.33. This change lagged the S&P 500's 0.53% loss on the day. At the same time, the Dow lost 0.09%, and the tech-heavy Nasdaq lost 1%.
Shares of the company witnessed a gain of 17.51% over the previous month, beating the performance of the Oils-Energy sector with its gain of 1.82%, and the S&P 500's gain of 2.06%.
The investment community will be closely monitoring the performance of Array Technologies, Inc. in its forthcoming earnings report. The company is forecasted to report an EPS of $0, showcasing a 100% downward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $210.84 million, indicating a 23.4% decrease compared to the same quarter of the previous year.
ARRY's full-year Zacks Consensus Estimates are calling for earnings of $0.67 per share and revenue of $1.27 billion. These results would represent year-over-year changes of +11.67% and 0%, respectively.
Investors should also pay attention to any latest changes in analyst estimates for Array Technologies, Inc. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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 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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 2.29% increase. Array Technologies, Inc. currently has a Zacks Rank of #1 (Strong Buy).
In terms of valuation, Array Technologies, Inc. is currently trading at a Forward P/E ratio of 10.34. This represents a discount compared to its industry average Forward P/E of 21.38.
Investors should also note that ARRY has a PEG ratio of 0.55 right now. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Solar industry currently had an average PEG ratio of 0.67 as of yesterday's close.
The Solar industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 24, placing it within the top 10% of over 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Array Technologies, Inc. (ARRY) Registers a Bigger Fall Than the Market: Important Facts to Note
In the latest close session, Array Technologies, Inc. (ARRY - Free Report) was down 6.7% at $9.33. This change lagged the S&P 500's 0.53% loss on the day. At the same time, the Dow lost 0.09%, and the tech-heavy Nasdaq lost 1%.
Shares of the company witnessed a gain of 17.51% over the previous month, beating the performance of the Oils-Energy sector with its gain of 1.82%, and the S&P 500's gain of 2.06%.
The investment community will be closely monitoring the performance of Array Technologies, Inc. in its forthcoming earnings report. The company is forecasted to report an EPS of $0, showcasing a 100% downward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $210.84 million, indicating a 23.4% decrease compared to the same quarter of the previous year.
ARRY's full-year Zacks Consensus Estimates are calling for earnings of $0.67 per share and revenue of $1.27 billion. These results would represent year-over-year changes of +11.67% and 0%, respectively.
Investors should also pay attention to any latest changes in analyst estimates for Array Technologies, Inc. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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 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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 2.29% increase. Array Technologies, Inc. currently has a Zacks Rank of #1 (Strong Buy).
In terms of valuation, Array Technologies, Inc. is currently trading at a Forward P/E ratio of 10.34. This represents a discount compared to its industry average Forward P/E of 21.38.
Investors should also note that ARRY has a PEG ratio of 0.55 right now. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Solar industry currently had an average PEG ratio of 0.67 as of yesterday's close.
The Solar industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 24, placing it within the top 10% of over 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.