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Why Bloom Energy (BE) Outpaced the Stock Market Today
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Bloom Energy (BE - Free Report) ended the recent trading session at $272.89, demonstrating a +2.73% change from the preceding day's closing price. The stock's change was more than the S&P 500's daily gain of 1.49%. At the same time, the Dow added 0.71%, and the tech-heavy Nasdaq gained 2.26%.
Coming into today, shares of the developer of fuel cell systems had gained 31.86% in the past month. In that same time, the Oils-Energy sector gained 0.51%, while the S&P 500 gained 0.1%.
Analysts and investors alike will be keeping a close eye on the performance of Bloom Energy in its upcoming earnings disclosure. On that day, Bloom Energy is projected to report earnings of $0.72 per share, which would represent year-over-year growth of 380%. Our most recent consensus estimate is calling for quarterly revenue of $1.07 billion, up 106.31% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $2.7 per share and a revenue of $4.14 billion, representing changes of +255.26% and +104.34%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Bloom Energy. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Empirical research indicates that these revisions in estimates have a direct correlation with impending 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.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Bloom Energy presently features a Zacks Rank of #1 (Strong Buy).
Looking at valuation, Bloom Energy is presently trading at a Forward P/E ratio of 98.26. This valuation marks a premium compared to its industry average Forward P/E of 17.31.
We can additionally observe that BE currently boasts a PEG ratio of 2.59. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. BE's industry had an average PEG ratio of 2.23 as of yesterday's close.
The Alternative Energy - Other industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 157, which puts it in the bottom 37% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
View the Zacks #1 Rank List
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Why Bloom Energy (BE) Outpaced the Stock Market Today
Bloom Energy (BE - Free Report) ended the recent trading session at $272.89, demonstrating a +2.73% change from the preceding day's closing price. The stock's change was more than the S&P 500's daily gain of 1.49%. At the same time, the Dow added 0.71%, and the tech-heavy Nasdaq gained 2.26%.
Coming into today, shares of the developer of fuel cell systems had gained 31.86% in the past month. In that same time, the Oils-Energy sector gained 0.51%, while the S&P 500 gained 0.1%.
Analysts and investors alike will be keeping a close eye on the performance of Bloom Energy in its upcoming earnings disclosure. On that day, Bloom Energy is projected to report earnings of $0.72 per share, which would represent year-over-year growth of 380%. Our most recent consensus estimate is calling for quarterly revenue of $1.07 billion, up 106.31% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $2.7 per share and a revenue of $4.14 billion, representing changes of +255.26% and +104.34%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Bloom Energy. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Empirical research indicates that these revisions in estimates have a direct correlation with impending 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.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Bloom Energy presently features a Zacks Rank of #1 (Strong Buy).
Looking at valuation, Bloom Energy is presently trading at a Forward P/E ratio of 98.26. This valuation marks a premium compared to its industry average Forward P/E of 17.31.
We can additionally observe that BE currently boasts a PEG ratio of 2.59. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. BE's industry had an average PEG ratio of 2.23 as of yesterday's close.
The Alternative Energy - Other industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 157, which puts it in the bottom 37% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.