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Plug Power (PLUG) Gains As Market Dips: What You Should Know
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Plug Power (PLUG - Free Report) closed the most recent trading day at $7.55, moving +1.07% from the previous trading session. The stock outpaced the S&P 500's daily loss of 1.47%. Elsewhere, the Dow lost 1.14%, while the tech-heavy Nasdaq lost 1.57%.
Prior to today's trading, shares of the alternative energy company had lost 10.32% over the past month. This has lagged the Industrial Products sector's loss of 2.35% and the S&P 500's loss of 1.43% in that time.
Plug Power will be looking to display strength as it nears its next earnings release. On that day, Plug Power is projected to report earnings of -$0.30 per share, which would represent no growth from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $333.45 million, up 76.77% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$1.26 per share and revenue of $1.3 billion. These totals would mark changes of -0.8% and +84.79%, respectively, from last year.
Any recent changes to analyst estimates for Plug Power should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. Within the past 30 days, our consensus EPS projection has moved 5.6% lower. Plug Power is currently a Zacks Rank #3 (Hold).
The Manufacturing - Electronics industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 98, putting it in the top 39% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Plug Power (PLUG) Gains As Market Dips: What You Should Know
Plug Power (PLUG - Free Report) closed the most recent trading day at $7.55, moving +1.07% from the previous trading session. The stock outpaced the S&P 500's daily loss of 1.47%. Elsewhere, the Dow lost 1.14%, while the tech-heavy Nasdaq lost 1.57%.
Prior to today's trading, shares of the alternative energy company had lost 10.32% over the past month. This has lagged the Industrial Products sector's loss of 2.35% and the S&P 500's loss of 1.43% in that time.
Plug Power will be looking to display strength as it nears its next earnings release. On that day, Plug Power is projected to report earnings of -$0.30 per share, which would represent no growth from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $333.45 million, up 76.77% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$1.26 per share and revenue of $1.3 billion. These totals would mark changes of -0.8% and +84.79%, respectively, from last year.
Any recent changes to analyst estimates for Plug Power should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. Within the past 30 days, our consensus EPS projection has moved 5.6% lower. Plug Power is currently a Zacks Rank #3 (Hold).
The Manufacturing - Electronics industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 98, putting it in the top 39% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.