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Here's Why Bloom Energy (BE) Gained But Lagged the Market Today
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In the latest trading session, Bloom Energy (BE - Free Report) closed at $14.51, marking a +0.21% move from the previous day. This move lagged the S&P 500's daily gain of 1.11%. On the other hand, the Dow registered a gain of 1.64%, and the technology-centric Nasdaq increased by 1.03%.
The developer of fuel cell systems's shares have seen an increase of 11.04% over the last month, surpassing the Oils-Energy sector's loss of 10.8% and the S&P 500's loss of 1.16%.
Investors will be eagerly watching for the performance of Bloom Energy in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on August 8, 2024. The company is forecasted to report an EPS of -$0.06, showcasing a 64.71% upward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $315.64 million, indicating a 4.83% upward movement from the same quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $0.14 per share and a revenue of $1.47 billion, indicating changes of +240% and +10.07%, respectively, from the former year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Bloom Energy. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 1.11% decrease. Currently, Bloom Energy is carrying a Zacks Rank of #3 (Hold).
In terms of valuation, Bloom Energy is currently trading at a Forward P/E ratio of 101.61. For comparison, its industry has an average Forward P/E of 23.38, which means Bloom Energy is trading at a premium to the group.
It is also worth noting that BE currently has a PEG ratio of 4.06. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Alternative Energy - Other industry had an average PEG ratio of 1.55 as trading concluded yesterday.
The Alternative Energy - Other industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 184, placing it within the bottom 27% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Here's Why Bloom Energy (BE) Gained But Lagged the Market Today
In the latest trading session, Bloom Energy (BE - Free Report) closed at $14.51, marking a +0.21% move from the previous day. This move lagged the S&P 500's daily gain of 1.11%. On the other hand, the Dow registered a gain of 1.64%, and the technology-centric Nasdaq increased by 1.03%.
The developer of fuel cell systems's shares have seen an increase of 11.04% over the last month, surpassing the Oils-Energy sector's loss of 10.8% and the S&P 500's loss of 1.16%.
Investors will be eagerly watching for the performance of Bloom Energy in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on August 8, 2024. The company is forecasted to report an EPS of -$0.06, showcasing a 64.71% upward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $315.64 million, indicating a 4.83% upward movement from the same quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $0.14 per share and a revenue of $1.47 billion, indicating changes of +240% and +10.07%, respectively, from the former year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Bloom Energy. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 1.11% decrease. Currently, Bloom Energy is carrying a Zacks Rank of #3 (Hold).
In terms of valuation, Bloom Energy is currently trading at a Forward P/E ratio of 101.61. For comparison, its industry has an average Forward P/E of 23.38, which means Bloom Energy is trading at a premium to the group.
It is also worth noting that BE currently has a PEG ratio of 4.06. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Alternative Energy - Other industry had an average PEG ratio of 1.55 as trading concluded yesterday.
The Alternative Energy - Other industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 184, placing it within the bottom 27% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.