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Array Technologies, Inc. (ARRY) Dips More Than Broader Market: What You Should Know
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In the latest trading session, Array Technologies, Inc. (ARRY - Free Report) closed at $7.86, marking a -2.72% move from the previous day. The stock trailed the S&P 500, which registered a daily loss of 0.57%. On the other hand, the Dow registered a gain of 0.64%, and the technology-centric Nasdaq decreased by 1.15%.
The company's stock has dropped by 4.38% in the past month, exceeding the Oils-Energy sector's loss of 6.38% and lagging the S&P 500's gain of 2.14%.
Investors will be eagerly watching for the performance of Array Technologies, Inc. in its upcoming earnings disclosure. On that day, Array Technologies, Inc. is projected to report earnings of $0.12 per share, which would represent a year-over-year decline of 52%. Simultaneously, our latest consensus estimate expects the revenue to be $323.09 million, showing a 10.81% drop compared to the year-ago quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0.72 per share and a revenue of $1.45 billion, representing changes of +7.46% and +12.72%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Array Technologies, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Array Technologies, Inc. is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Array Technologies, Inc.'s current valuation metrics, including its Forward P/E ratio of 11.28. Its industry sports an average Forward P/E of 24.67, so one might conclude that Array Technologies, Inc. is trading at a discount comparatively.
It's also important to note that ARRY currently trades at a PEG ratio of 0.99. 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 1.03 as of yesterday's close.
The Solar industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 170, finds itself in the bottom 31% echelons of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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) Dips More Than Broader Market: What You Should Know
In the latest trading session, Array Technologies, Inc. (ARRY - Free Report) closed at $7.86, marking a -2.72% move from the previous day. The stock trailed the S&P 500, which registered a daily loss of 0.57%. On the other hand, the Dow registered a gain of 0.64%, and the technology-centric Nasdaq decreased by 1.15%.
The company's stock has dropped by 4.38% in the past month, exceeding the Oils-Energy sector's loss of 6.38% and lagging the S&P 500's gain of 2.14%.
Investors will be eagerly watching for the performance of Array Technologies, Inc. in its upcoming earnings disclosure. On that day, Array Technologies, Inc. is projected to report earnings of $0.12 per share, which would represent a year-over-year decline of 52%. Simultaneously, our latest consensus estimate expects the revenue to be $323.09 million, showing a 10.81% drop compared to the year-ago quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0.72 per share and a revenue of $1.45 billion, representing changes of +7.46% and +12.72%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Array Technologies, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Array Technologies, Inc. is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Array Technologies, Inc.'s current valuation metrics, including its Forward P/E ratio of 11.28. Its industry sports an average Forward P/E of 24.67, so one might conclude that Array Technologies, Inc. is trading at a discount comparatively.
It's also important to note that ARRY currently trades at a PEG ratio of 0.99. 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 1.03 as of yesterday's close.
The Solar industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 170, finds itself in the bottom 31% echelons of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.