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Here's Why Array Technologies, Inc. (ARRY) Fell More Than Broader Market
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Array Technologies, Inc. (ARRY - Free Report) ended the recent trading session at $7.12, demonstrating a -7.41% change from the preceding day's closing price. This change lagged the S&P 500's 0.05% loss on the day. Meanwhile, the Dow lost 0.09%, and the Nasdaq, a tech-heavy index, lost 0.24%.
Heading into today, shares of the company had lost 16.96% over the past month, lagging the Oils-Energy sector's loss of 8.57% and the S&P 500's loss of 1.42%.
The upcoming earnings release of Array Technologies, Inc. will be of great interest to investors. It is anticipated that the company will report an EPS of $0.1, marking a 60% fall compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $323.09 million, down 10.81% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $0.72 per share and a revenue of $1.45 billion, demonstrating changes of +7.46% and +12.72%, respectively, from the preceding year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts 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 suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, 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. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Array Technologies, Inc. is currently sporting a Zacks Rank of #3 (Hold).
Looking at valuation, Array Technologies, Inc. is presently trading at a Forward P/E ratio of 10.7. This valuation marks a discount compared to its industry average Forward P/E of 22.24.
Investors should also note that ARRY has a PEG ratio of 0.94 right now. 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. ARRY's industry had an average PEG ratio of 0.99 as of yesterday's close.
The Solar industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 169, placing it within the bottom 31% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
View the Zacks #1 Rank List
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Here's Why Array Technologies, Inc. (ARRY) Fell More Than Broader Market
Array Technologies, Inc. (ARRY - Free Report) ended the recent trading session at $7.12, demonstrating a -7.41% change from the preceding day's closing price. This change lagged the S&P 500's 0.05% loss on the day. Meanwhile, the Dow lost 0.09%, and the Nasdaq, a tech-heavy index, lost 0.24%.
Heading into today, shares of the company had lost 16.96% over the past month, lagging the Oils-Energy sector's loss of 8.57% and the S&P 500's loss of 1.42%.
The upcoming earnings release of Array Technologies, Inc. will be of great interest to investors. It is anticipated that the company will report an EPS of $0.1, marking a 60% fall compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $323.09 million, down 10.81% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $0.72 per share and a revenue of $1.45 billion, demonstrating changes of +7.46% and +12.72%, respectively, from the preceding year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts 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 suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, 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. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Array Technologies, Inc. is currently sporting a Zacks Rank of #3 (Hold).
Looking at valuation, Array Technologies, Inc. is presently trading at a Forward P/E ratio of 10.7. This valuation marks a discount compared to its industry average Forward P/E of 22.24.
Investors should also note that ARRY has a PEG ratio of 0.94 right now. 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. ARRY's industry had an average PEG ratio of 0.99 as of yesterday's close.
The Solar industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 169, placing it within the bottom 31% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.