The latest trading session saw Plug Power (PLUG) ending at $1.54, denoting a +0.65% adjustment from its last day's close. The stock trailed the S&P 500, which registered a daily gain of 1.77%. Elsewhere, the Dow saw an upswing of 1.42%, while the tech-heavy Nasdaq appreciated by 2.28%.
The alternative energy company's stock has dropped by 7.83% in the past month, falling short of the Industrial Products sector's loss of 4.51% and the S&P 500's loss of 5.73%.
Investors will be eagerly watching for the performance of Plug Power in its upcoming earnings disclosure. The company's upcoming EPS is projected at -$0.20, signifying a 53.49% increase compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $128.91 million, showing a 7.19% escalation compared to the year-ago quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$0.63 per share and a revenue of $720.01 million, representing changes of +76.49% and +14.5%, respectively, from the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Plug Power. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 2.26% lower within the past month. Plug Power presently features a Zacks Rank of #3 (Hold).
The Manufacturing - Electronics industry is part of the Industrial Products sector. With its current Zacks Industry Rank of 48, this industry ranks in the top 20% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the 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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