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Here's Why Plug Power (PLUG) Fell More Than Broader Market
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Plug Power (PLUG - Free Report) closed at $7.41 in the latest trading session, marking a -1.72% move from the prior day. This change lagged the S&P 500's 0.63% loss on the day. Meanwhile, the Dow lost 0.51%, and the Nasdaq, a tech-heavy index, lost 0.63%.
Coming into today, shares of the alternative energy company had lost 8.16% in the past month. In that same time, the Industrial Products sector lost 1.28%, while the S&P 500 lost 2.35%.
Analysts and investors alike will be keeping a close eye on the performance of Plug Power in its upcoming earnings disclosure. In that report, analysts expect Plug Power to post earnings of -$0.31 per share. This would mark a year-over-year decline of 3.33%. Meanwhile, our latest consensus estimate is calling for revenue of $324.12 million, up 71.83% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$1.27 per share and revenue of $1.29 billion, which would represent changes of -1.6% and +83.27%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Plug Power. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.93% downward. Plug Power currently has a Zacks Rank of #3 (Hold).
The Manufacturing - Electronics industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 155, which puts it in the bottom 39% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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.
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Here's Why Plug Power (PLUG) Fell More Than Broader Market
Plug Power (PLUG - Free Report) closed at $7.41 in the latest trading session, marking a -1.72% move from the prior day. This change lagged the S&P 500's 0.63% loss on the day. Meanwhile, the Dow lost 0.51%, and the Nasdaq, a tech-heavy index, lost 0.63%.
Coming into today, shares of the alternative energy company had lost 8.16% in the past month. In that same time, the Industrial Products sector lost 1.28%, while the S&P 500 lost 2.35%.
Analysts and investors alike will be keeping a close eye on the performance of Plug Power in its upcoming earnings disclosure. In that report, analysts expect Plug Power to post earnings of -$0.31 per share. This would mark a year-over-year decline of 3.33%. Meanwhile, our latest consensus estimate is calling for revenue of $324.12 million, up 71.83% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$1.27 per share and revenue of $1.29 billion, which would represent changes of -1.6% and +83.27%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Plug Power. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.93% downward. Plug Power currently has a Zacks Rank of #3 (Hold).
The Manufacturing - Electronics industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 155, which puts it in the bottom 39% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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.