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Array Technologies, Inc. (ARRY) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, Array Technologies, Inc. (ARRY - Free Report) closed at $10.53, marking a -2.5% move from the previous day. The stock's change was less than the S&P 500's daily gain of 0.03%. Meanwhile, the Dow lost 0.58%, and the Nasdaq, a tech-heavy index, added 0.28%.
Heading into today, shares of the company had gained 5.99% over the past month, lagging the Oils-Energy sector's gain of 6.65% and outpacing the S&P 500's gain of 0.6%.
The upcoming earnings release of Array Technologies, Inc. will be of great interest to investors. The company's earnings per share (EPS) are projected to be $0, reflecting a 100% decrease from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $210.84 million, indicating a 23.4% decline compared to the corresponding quarter of the prior year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $0.67 per share and revenue of $1.27 billion. These totals would mark changes of +11.67% and 0%, respectively, from last 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. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, 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. The Zacks Consensus EPS estimate has moved 2.29% higher within the past month. Array Technologies, Inc. is holding a Zacks Rank of #1 (Strong Buy) right now.
In terms of valuation, Array Technologies, Inc. is presently being traded at a Forward P/E ratio of 11.17. This denotes a discount relative to the industry average Forward P/E of 22.54.
Meanwhile, ARRY's PEG ratio is currently 0.59. 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 Solar industry had an average PEG ratio of 0.69 as trading concluded yesterday.
The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 61, which puts it in the top 25% of all 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Array Technologies, Inc. (ARRY) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Array Technologies, Inc. (ARRY - Free Report) closed at $10.53, marking a -2.5% move from the previous day. The stock's change was less than the S&P 500's daily gain of 0.03%. Meanwhile, the Dow lost 0.58%, and the Nasdaq, a tech-heavy index, added 0.28%.
Heading into today, shares of the company had gained 5.99% over the past month, lagging the Oils-Energy sector's gain of 6.65% and outpacing the S&P 500's gain of 0.6%.
The upcoming earnings release of Array Technologies, Inc. will be of great interest to investors. The company's earnings per share (EPS) are projected to be $0, reflecting a 100% decrease from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $210.84 million, indicating a 23.4% decline compared to the corresponding quarter of the prior year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $0.67 per share and revenue of $1.27 billion. These totals would mark changes of +11.67% and 0%, respectively, from last 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. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, 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. The Zacks Consensus EPS estimate has moved 2.29% higher within the past month. Array Technologies, Inc. is holding a Zacks Rank of #1 (Strong Buy) right now.
In terms of valuation, Array Technologies, Inc. is presently being traded at a Forward P/E ratio of 11.17. This denotes a discount relative to the industry average Forward P/E of 22.54.
Meanwhile, ARRY's PEG ratio is currently 0.59. 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 Solar industry had an average PEG ratio of 0.69 as trading concluded yesterday.
The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 61, which puts it in the top 25% of all 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.