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Why Array Technologies, Inc. (ARRY) Dipped More Than Broader Market Today
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Array Technologies, Inc. (ARRY - Free Report) closed the most recent trading day at $4.20, moving -4.11% from the previous trading session. This change lagged the S&P 500's 0.45% loss on the day. Elsewhere, the Dow lost 1.21%, while the tech-heavy Nasdaq lost 0.01%.
Shares of the company have depreciated by 8.75% over the course of the past month, underperforming the Oils-Energy sector's gain of 3.72%, and the S&P 500's loss of 2.43%.
Market participants will be closely following the financial results of Array Technologies, Inc. in its upcoming release. The company is expected to report EPS of $0.11, down 63.33% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $339.99 million, down 13.6% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $0.74 per share and a revenue of $1.43 billion, indicating changes of +10.45% and +11.62%, respectively, from the former year.
Investors should also note any recent changes to analyst estimates for Array Technologies, Inc. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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 moved 0.45% lower. Array Technologies, Inc. is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Array Technologies, Inc. currently has a Forward P/E ratio of 5.94. This expresses a discount compared to the average Forward P/E of 11.38 of its industry.
We can also see that ARRY currently has a PEG ratio of 0.54. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As of the close of trade yesterday, the Solar industry held an average PEG ratio of 0.64.
The Solar industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 232, finds itself in the bottom 6% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
View the Zacks #1 Rank List
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Why Array Technologies, Inc. (ARRY) Dipped More Than Broader Market Today
Array Technologies, Inc. (ARRY - Free Report) closed the most recent trading day at $4.20, moving -4.11% from the previous trading session. This change lagged the S&P 500's 0.45% loss on the day. Elsewhere, the Dow lost 1.21%, while the tech-heavy Nasdaq lost 0.01%.
Shares of the company have depreciated by 8.75% over the course of the past month, underperforming the Oils-Energy sector's gain of 3.72%, and the S&P 500's loss of 2.43%.
Market participants will be closely following the financial results of Array Technologies, Inc. in its upcoming release. The company is expected to report EPS of $0.11, down 63.33% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $339.99 million, down 13.6% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $0.74 per share and a revenue of $1.43 billion, indicating changes of +10.45% and +11.62%, respectively, from the former year.
Investors should also note any recent changes to analyst estimates for Array Technologies, Inc. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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 moved 0.45% lower. Array Technologies, Inc. is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Array Technologies, Inc. currently has a Forward P/E ratio of 5.94. This expresses a discount compared to the average Forward P/E of 11.38 of its industry.
We can also see that ARRY currently has a PEG ratio of 0.54. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As of the close of trade yesterday, the Solar industry held an average PEG ratio of 0.64.
The Solar industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 232, finds itself in the bottom 6% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.