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Why Array Technologies, Inc. (ARRY) Outpaced the Stock Market Today
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Array Technologies, Inc. (ARRY - Free Report) closed the most recent trading day at $6.68, moving +1.21% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.75%. Elsewhere, the Dow saw an upswing of 0.58%, while the tech-heavy Nasdaq appreciated by 1%.
Shares of the company witnessed a gain of 0.15% over the previous month, beating the performance of the Oils-Energy sector with its loss of 4.12% and underperforming the S&P 500's gain of 4.03%.
The investment community will be paying close attention to the earnings performance of Array Technologies, Inc. in its upcoming release. It is anticipated that the company will report an EPS of $0.13, marking a 38.1% fall compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $228.18 million, indicating a 34.89% downward movement from the same quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0.69 per share and a revenue of $946.76 million, representing changes of -38.94% and -39.95%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Array Technologies, Inc. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. The Zacks Consensus EPS estimate has moved 12.01% lower within the past month. Right now, Array Technologies, Inc. possesses a Zacks Rank of #3 (Hold).
From a valuation perspective, Array Technologies, Inc. is currently exchanging hands at a Forward P/E ratio of 9.54. For comparison, its industry has an average Forward P/E of 17.46, which means Array Technologies, Inc. is trading at a discount to the group.
We can additionally observe that ARRY currently boasts a PEG ratio of 0.93. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As the market closed yesterday, the Solar industry was having an average PEG ratio of 1.84.
The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 143, which puts it in the bottom 44% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Why Array Technologies, Inc. (ARRY) Outpaced the Stock Market Today
Array Technologies, Inc. (ARRY - Free Report) closed the most recent trading day at $6.68, moving +1.21% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.75%. Elsewhere, the Dow saw an upswing of 0.58%, while the tech-heavy Nasdaq appreciated by 1%.
Shares of the company witnessed a gain of 0.15% over the previous month, beating the performance of the Oils-Energy sector with its loss of 4.12% and underperforming the S&P 500's gain of 4.03%.
The investment community will be paying close attention to the earnings performance of Array Technologies, Inc. in its upcoming release. It is anticipated that the company will report an EPS of $0.13, marking a 38.1% fall compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $228.18 million, indicating a 34.89% downward movement from the same quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0.69 per share and a revenue of $946.76 million, representing changes of -38.94% and -39.95%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Array Technologies, Inc. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. The Zacks Consensus EPS estimate has moved 12.01% lower within the past month. Right now, Array Technologies, Inc. possesses a Zacks Rank of #3 (Hold).
From a valuation perspective, Array Technologies, Inc. is currently exchanging hands at a Forward P/E ratio of 9.54. For comparison, its industry has an average Forward P/E of 17.46, which means Array Technologies, Inc. is trading at a discount to the group.
We can additionally observe that ARRY currently boasts a PEG ratio of 0.93. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As the market closed yesterday, the Solar industry was having an average PEG ratio of 1.84.
The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 143, which puts it in the bottom 44% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.