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In the latest market close, Bloom Energy (BE) reached $22.51, with a -1.7% movement compared to the previous day. The stock fell short of the S&P 500, which registered a loss of 1.07% for the day. At the same time, the Dow lost 0.97%, and the tech-heavy Nasdaq lost 1.19%.
Shares of the developer of fuel cell systems witnessed a loss of 16.58% over the previous month, trailing the performance of the Oils-Energy sector with its loss of 8.22% and the S&P 500's loss of 0.36%.
The investment community will be paying close attention to the earnings performance of Bloom Energy in its upcoming release. On that day, Bloom Energy is projected to report earnings of $0.30 per share, which would represent year-over-year growth of 328.57%. At the same time, our most recent consensus estimate is projecting a revenue of $515.21 million, reflecting a 44.35% rise from the equivalent quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $0.08 per share and a revenue of $1.42 billion, indicating changes of +180% and +6.23%, respectively, from the former year.
Investors might also notice recent changes to analyst estimates for Bloom Energy. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 1.37% increase. At present, Bloom Energy boasts a Zacks Rank of #3 (Hold).
In the context of valuation, Bloom Energy is at present trading with a Forward P/E ratio of 296.35. This represents a premium compared to its industry's average Forward P/E of 24.53.
Also, we should mention that BE has a PEG ratio of 11.85. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Alternative Energy - Other industry had an average PEG ratio of 1.89 as trading concluded yesterday.