Plug Power (PLUG - Free Report) closed the most recent trading day at $2.65, moving +0.38% from the previous trading session. This change outpaced the S&P 500's 0.3% loss on the day. Meanwhile, the Dow lost 0.52%, and the Nasdaq, a tech-heavy index, lost 0.14%.
Coming into today, shares of the alternative energy company had gained 9.54% in the past month. In that same time, the Industrial Products sector gained 4.95%, while the S&P 500 gained 2.46%.
PLUG will be looking to display strength as it nears its next earnings release, which is expected to be November 7, 2019. In that report, analysts expect PLUG to post earnings of -$0.07 per share. This would mark no growth from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $54.89 million, down 0.75% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.35 per share and revenue of $232.05 million. These totals would mark changes of +2.78% and +27.33%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for PLUG. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 3.89% higher. PLUG is holding a Zacks Rank of #2 (Buy) right now.
The Manufacturing - Electronics industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 68, which puts it in the top 27% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
To follow PLUG in the coming trading sessions, be sure to utilize Zacks.com.