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Plug Power (PLUG) Gains As Market Dips: What You Should Know
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Plug Power (PLUG - Free Report) ended the recent trading session at $2.45, demonstrating a +1.66% swing from the preceding day's closing price. The stock exceeded the S&P 500, which registered a loss of 0.31% for the day. Elsewhere, the Dow saw an upswing of 0.67%, while the tech-heavy Nasdaq depreciated by 1.09%.
The alternative energy company's shares have seen a decrease of 25.85% over the last month, not keeping up with the Industrial Products sector's loss of 5.25% and the S&P 500's gain of 2.73%.
The investment community will be paying close attention to the earnings performance of Plug Power in its upcoming release. In that report, analysts expect Plug Power to post earnings of -$0.30 per share. This would mark year-over-year growth of 14.29%. Simultaneously, our latest consensus estimate expects the revenue to be $180.32 million, showing a 30.7% drop compared to the year-ago quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$1.12 per share and a revenue of $917.03 million, indicating changes of +51.3% and +2.88%, respectively, from the former year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Plug Power. 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 take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.05% lower. As of now, Plug Power holds a Zacks Rank of #3 (Hold).
The Manufacturing - Electronics industry is part of the Industrial Products sector. With its current Zacks Industry Rank of 18, this industry ranks in the top 8% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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) ended the recent trading session at $2.45, demonstrating a +1.66% swing from the preceding day's closing price. The stock exceeded the S&P 500, which registered a loss of 0.31% for the day. Elsewhere, the Dow saw an upswing of 0.67%, while the tech-heavy Nasdaq depreciated by 1.09%.
The alternative energy company's shares have seen a decrease of 25.85% over the last month, not keeping up with the Industrial Products sector's loss of 5.25% and the S&P 500's gain of 2.73%.
The investment community will be paying close attention to the earnings performance of Plug Power in its upcoming release. In that report, analysts expect Plug Power to post earnings of -$0.30 per share. This would mark year-over-year growth of 14.29%. Simultaneously, our latest consensus estimate expects the revenue to be $180.32 million, showing a 30.7% drop compared to the year-ago quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$1.12 per share and a revenue of $917.03 million, indicating changes of +51.3% and +2.88%, respectively, from the former year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Plug Power. 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 take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.05% lower. As of now, Plug Power holds a Zacks Rank of #3 (Hold).
The Manufacturing - Electronics industry is part of the Industrial Products sector. With its current Zacks Industry Rank of 18, this industry ranks in the top 8% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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.