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Array Technologies, Inc. (ARRY) Dips More Than Broader Market: What You Should Know
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Array Technologies, Inc. (ARRY - Free Report) closed at $3.83 in the latest trading session, marking a -4.96% move from the prior day. The stock fell short of the S&P 500, which registered a loss of 0.77% for the day. On the other hand, the Dow registered a loss of 0.67%, and the technology-centric Nasdaq decreased by 0.92%.
Shares of the company have depreciated by 12.2% over the course of the past month, underperforming the Oils-Energy sector's gain of 1.13%, and the S&P 500's gain of 0.96%.
Market participants will be closely following the financial results of Array Technologies, Inc. in its upcoming release. The company is predicted to post an EPS of $0.11, indicating a 63.33% decline compared to the equivalent quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $320.87 million, down 18.46% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $0.74 per share and revenue of $1.43 billion, which would represent changes of +10.45% and +11.57%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Array Technologies, Inc. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.48% lower. Right now, Array Technologies, Inc. possesses a Zacks Rank of #3 (Hold).
From a valuation perspective, Array Technologies, Inc. is currently exchanging hands at a Forward P/E ratio of 5.47. This valuation marks a discount compared to its industry average Forward P/E of 13.39.
It's also important to note that ARRY currently trades at a PEG ratio of 0.5. 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. 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. At present, this industry carries a Zacks Industry Rank of 233, placing it within the bottom 6% of over 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.
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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Array Technologies, Inc. (ARRY) Dips More Than Broader Market: What You Should Know
Array Technologies, Inc. (ARRY - Free Report) closed at $3.83 in the latest trading session, marking a -4.96% move from the prior day. The stock fell short of the S&P 500, which registered a loss of 0.77% for the day. On the other hand, the Dow registered a loss of 0.67%, and the technology-centric Nasdaq decreased by 0.92%.
Shares of the company have depreciated by 12.2% over the course of the past month, underperforming the Oils-Energy sector's gain of 1.13%, and the S&P 500's gain of 0.96%.
Market participants will be closely following the financial results of Array Technologies, Inc. in its upcoming release. The company is predicted to post an EPS of $0.11, indicating a 63.33% decline compared to the equivalent quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $320.87 million, down 18.46% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $0.74 per share and revenue of $1.43 billion, which would represent changes of +10.45% and +11.57%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Array Technologies, Inc. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.48% lower. Right now, Array Technologies, Inc. possesses a Zacks Rank of #3 (Hold).
From a valuation perspective, Array Technologies, Inc. is currently exchanging hands at a Forward P/E ratio of 5.47. This valuation marks a discount compared to its industry average Forward P/E of 13.39.
It's also important to note that ARRY currently trades at a PEG ratio of 0.5. 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. 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. At present, this industry carries a Zacks Industry Rank of 233, placing it within the bottom 6% of over 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.