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Altus Power, Inc. (AMPS) Gains As Market Dips: What You Should Know
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Altus Power, Inc. (AMPS - Free Report) closed at $10.44 in the latest trading session, marking a +0.48% move from the prior day. This change outpaced the S&P 500's 0.75% loss on the day. At the same time, the Dow lost 0.32%, and the tech-heavy Nasdaq lost 0.11%.
Heading into today, shares of the company had lost 9.65% over the past month, lagging the Oils-Energy sector's gain of 1.45% and the S&P 500's loss of 8.4% in that time.
Wall Street will be looking for positivity from Altus Power, Inc. as it approaches its next earnings report date.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.58 per share and revenue of $104.32 million, which would represent changes of +1066.67% and +45.29%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Altus Power, Inc.These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Altus Power, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Investors should also note Altus Power, Inc.'s current valuation metrics, including its Forward P/E ratio of 17.81. Its industry sports an average Forward P/E of 26.24, so we one might conclude that Altus Power, Inc. is trading at a discount comparatively.
The Alternative Energy - Other industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 59, putting it in the top 24% 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.
To follow AMPS in the coming trading sessions, be sure to utilize Zacks.com.
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Altus Power, Inc. (AMPS) Gains As Market Dips: What You Should Know
Altus Power, Inc. (AMPS - Free Report) closed at $10.44 in the latest trading session, marking a +0.48% move from the prior day. This change outpaced the S&P 500's 0.75% loss on the day. At the same time, the Dow lost 0.32%, and the tech-heavy Nasdaq lost 0.11%.
Heading into today, shares of the company had lost 9.65% over the past month, lagging the Oils-Energy sector's gain of 1.45% and the S&P 500's loss of 8.4% in that time.
Wall Street will be looking for positivity from Altus Power, Inc. as it approaches its next earnings report date.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.58 per share and revenue of $104.32 million, which would represent changes of +1066.67% and +45.29%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Altus Power, Inc.These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Altus Power, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Investors should also note Altus Power, Inc.'s current valuation metrics, including its Forward P/E ratio of 17.81. Its industry sports an average Forward P/E of 26.24, so we one might conclude that Altus Power, Inc. is trading at a discount comparatively.
The Alternative Energy - Other industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 59, putting it in the top 24% 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.
To follow AMPS in the coming trading sessions, be sure to utilize Zacks.com.