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Array Technologies, Inc. (ARRY) Increases Despite Market Slip: Here's What You Need to Know
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In the latest close session, Array Technologies, Inc. (ARRY - Free Report) was up +1.6% at $6.97. The stock outperformed the S&P 500, which registered a daily loss of 0.28%. At the same time, the Dow lost 0.44%, and the tech-heavy Nasdaq lost 0.28%.
Heading into today, shares of the company had lost 41.37% over the past month, lagging the Oils-Energy sector's gain of 8.87% and the S&P 500's loss of 3.59%.
Analysts and investors alike will be keeping a close eye on the performance of Array Technologies, Inc. in its upcoming earnings disclosure. On that day, Array Technologies, Inc. is projected to report earnings of $0.01 per share, which would represent a year-over-year decline of 92.31%. Meanwhile, our latest consensus estimate is calling for revenue of $200.51 million, down 33.68% from the prior-year quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $0.77 per share and a revenue of $1.47 billion, signifying shifts of +14.93% and +14.54%, respectively, from the last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Array Technologies, Inc. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 18.99% decrease. Array Technologies, Inc. currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Array Technologies, Inc. is currently trading at a Forward P/E ratio of 8.88. This represents a discount compared to its industry average Forward P/E of 17.48.
Meanwhile, ARRY's PEG ratio is currently 0.45. 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. As of the close of trade yesterday, the Solar industry held an average PEG ratio of 0.6.
The Solar industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 182, this industry ranks in the bottom 26% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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) Increases Despite Market Slip: Here's What You Need to Know
In the latest close session, Array Technologies, Inc. (ARRY - Free Report) was up +1.6% at $6.97. The stock outperformed the S&P 500, which registered a daily loss of 0.28%. At the same time, the Dow lost 0.44%, and the tech-heavy Nasdaq lost 0.28%.
Heading into today, shares of the company had lost 41.37% over the past month, lagging the Oils-Energy sector's gain of 8.87% and the S&P 500's loss of 3.59%.
Analysts and investors alike will be keeping a close eye on the performance of Array Technologies, Inc. in its upcoming earnings disclosure. On that day, Array Technologies, Inc. is projected to report earnings of $0.01 per share, which would represent a year-over-year decline of 92.31%. Meanwhile, our latest consensus estimate is calling for revenue of $200.51 million, down 33.68% from the prior-year quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $0.77 per share and a revenue of $1.47 billion, signifying shifts of +14.93% and +14.54%, respectively, from the last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Array Technologies, Inc. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 18.99% decrease. Array Technologies, Inc. currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Array Technologies, Inc. is currently trading at a Forward P/E ratio of 8.88. This represents a discount compared to its industry average Forward P/E of 17.48.
Meanwhile, ARRY's PEG ratio is currently 0.45. 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. As of the close of trade yesterday, the Solar industry held an average PEG ratio of 0.6.
The Solar industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 182, this industry ranks in the bottom 26% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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.