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Plug Power (PLUG) closed the latest trading day at $0.84, indicating a -1.01% change from the previous session's end. This change lagged the S&P 500's daily gain of 1.47%. On the other hand, the Dow registered a gain of 1.39%, and the technology-centric Nasdaq increased by 1.51%.
The alternative energy company's stock has dropped by 29.61% in the past month, falling short of the Industrial Products sector's loss of 1.14% and the S&P 500's loss of 0.47%.
Investors will be eagerly watching for the performance of Plug Power in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be -$0.19, reflecting a 55.81% increase from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $132.12 million, indicating a 9.86% growth compared to the corresponding quarter of the prior year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$0.62 per share and a revenue of $710.16 million, representing changes of +76.87% and +12.94%, respectively, from the prior year.
Any recent changes to analyst estimates for Plug Power should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 2.21% upward. Currently, Plug Power is carrying a Zacks Rank of #3 (Hold).
The Manufacturing - Electronics industry is part of the Industrial Products sector. At present, this industry carries a Zacks Industry Rank of 44, placing it within the top 18% of over 250 industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within 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.