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Here's Why Bloom Energy (BE) Fell More Than Broader Market
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Bloom Energy (BE - Free Report) closed at $150.12 in the latest trading session, marking a -9.94% move from the prior day. The stock trailed the S&P 500, which registered a daily loss of 1.51%. On the other hand, the Dow registered a loss of 0.97%, and the technology-centric Nasdaq decreased by 2.01%.
The developer of fuel cell systems's shares have seen an increase of 4.84% over the last month, not keeping up with the Oils-Energy sector's gain of 9.4% and outstripping the S&P 500's loss of 3.63%.
Analysts and investors alike will be keeping a close eye on the performance of Bloom Energy in its upcoming earnings disclosure. The company's upcoming EPS is projected at $0.09, signifying a 200.00% increase compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $498.11 million, up 52.79% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $1.38 per share and a revenue of $3.25 billion, signifying shifts of +81.58% and +60.51%, respectively, from the last year.
It is also important to note the recent changes to analyst estimates for Bloom Energy. These revisions help to show the ever-changing nature of near-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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Within the past 30 days, our consensus EPS projection remained stagnant. Bloom Energy is holding a Zacks Rank of #3 (Hold) right now.
With respect to valuation, Bloom Energy is currently being traded at a Forward P/E ratio of 120.79. This signifies a premium in comparison to the average Forward P/E of 18.86 for its industry.
Also, we should mention that BE has a PEG ratio of 4.83. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. As of the close of trade yesterday, the Alternative Energy - Other industry held an average PEG ratio of 2.
The Alternative Energy - Other industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 144, positioning it in the bottom 42% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Here's Why Bloom Energy (BE) Fell More Than Broader Market
Bloom Energy (BE - Free Report) closed at $150.12 in the latest trading session, marking a -9.94% move from the prior day. The stock trailed the S&P 500, which registered a daily loss of 1.51%. On the other hand, the Dow registered a loss of 0.97%, and the technology-centric Nasdaq decreased by 2.01%.
The developer of fuel cell systems's shares have seen an increase of 4.84% over the last month, not keeping up with the Oils-Energy sector's gain of 9.4% and outstripping the S&P 500's loss of 3.63%.
Analysts and investors alike will be keeping a close eye on the performance of Bloom Energy in its upcoming earnings disclosure. The company's upcoming EPS is projected at $0.09, signifying a 200.00% increase compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $498.11 million, up 52.79% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $1.38 per share and a revenue of $3.25 billion, signifying shifts of +81.58% and +60.51%, respectively, from the last year.
It is also important to note the recent changes to analyst estimates for Bloom Energy. These revisions help to show the ever-changing nature of near-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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Within the past 30 days, our consensus EPS projection remained stagnant. Bloom Energy is holding a Zacks Rank of #3 (Hold) right now.
With respect to valuation, Bloom Energy is currently being traded at a Forward P/E ratio of 120.79. This signifies a premium in comparison to the average Forward P/E of 18.86 for its industry.
Also, we should mention that BE has a PEG ratio of 4.83. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. As of the close of trade yesterday, the Alternative Energy - Other industry held an average PEG ratio of 2.
The Alternative Energy - Other industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 144, positioning it in the bottom 42% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.