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Array Technologies, Inc. (ARRY) Stock Declines While Market Improves: Some Information for Investors
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Array Technologies, Inc. (ARRY - Free Report) closed at $7.00 in the latest trading session, marking a -2.23% move from the prior day. The stock trailed the S&P 500, which registered a daily gain of 1.02%. Meanwhile, the Dow experienced a rise of 0.63%, and the technology-dominated Nasdaq saw an increase of 1.23%.
Heading into today, shares of the company had gained 3.32% over the past month, lagging the Oils-Energy sector's gain of 5.11% and outpacing the S&P 500's gain of 0.63%.
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. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $199.61 million, down 33.98% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $0.76 per share and revenue of $1.46 billion, indicating changes of +13.43% and +14.03%, respectively, compared to the previous year.
Investors should also take note of any recent adjustments to analyst estimates for Array Technologies, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
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, 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. Within the past 30 days, our consensus EPS projection has moved 2.15% lower. Array Technologies, Inc. currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Array Technologies, Inc. currently has a Forward P/E ratio of 9.45. This signifies a discount in comparison to the average Forward P/E of 15.71 for its industry.
It's also important to note that ARRY currently trades at a PEG ratio of 0.54. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. ARRY's industry had an average PEG ratio of 0.67 as of yesterday's close.
The Solar industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 199, finds itself in the bottom 19% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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) Stock Declines While Market Improves: Some Information for Investors
Array Technologies, Inc. (ARRY - Free Report) closed at $7.00 in the latest trading session, marking a -2.23% move from the prior day. The stock trailed the S&P 500, which registered a daily gain of 1.02%. Meanwhile, the Dow experienced a rise of 0.63%, and the technology-dominated Nasdaq saw an increase of 1.23%.
Heading into today, shares of the company had gained 3.32% over the past month, lagging the Oils-Energy sector's gain of 5.11% and outpacing the S&P 500's gain of 0.63%.
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. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $199.61 million, down 33.98% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $0.76 per share and revenue of $1.46 billion, indicating changes of +13.43% and +14.03%, respectively, compared to the previous year.
Investors should also take note of any recent adjustments to analyst estimates for Array Technologies, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
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, 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. Within the past 30 days, our consensus EPS projection has moved 2.15% lower. Array Technologies, Inc. currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Array Technologies, Inc. currently has a Forward P/E ratio of 9.45. This signifies a discount in comparison to the average Forward P/E of 15.71 for its industry.
It's also important to note that ARRY currently trades at a PEG ratio of 0.54. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. ARRY's industry had an average PEG ratio of 0.67 as of yesterday's close.
The Solar industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 199, finds itself in the bottom 19% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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.