The latest trading session saw Plug Power (PLUG) ending at $0.85, denoting a +0.94% adjustment from its last day's close. This change lagged the S&P 500's 2.03% gain on the day. Elsewhere, the Dow saw an upswing of 1.23%, while the tech-heavy Nasdaq appreciated by 2.74%.
Prior to today's trading, shares of the alternative energy company had lost 42.42% over the past month. This has lagged the Industrial Products sector's loss of 7.79% and the S&P 500's loss of 5.07% in that time.
Investors will be eagerly watching for the performance of Plug Power in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of -$0.20, marking a 53.49% rise compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $129.28 million, showing a 7.5% escalation compared to the year-ago quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$0.63 per share and revenue of $708.9 million, indicating changes of +76.49% and +12.74%, respectively, compared to the previous year.
It is also important to note the recent changes to analyst estimates for Plug Power. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 1.26% increase. As of now, Plug Power holds a Zacks Rank of #3 (Hold).
The Manufacturing - Electronics industry is part of the Industrial Products sector. Currently, this industry holds a Zacks Industry Rank of 85, positioning it in the top 35% of all 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Plug Power, Inc. (PLUG) : Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).
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