Array Technologies, Inc. (ARRY) closed the most recent trading day at $5.08, moving -0.59% from the previous trading session. The stock exceeded the S&P 500, which registered a loss of 1.97% for the day. At the same time, the Dow lost 1.69%, and the tech-heavy Nasdaq lost 2.7%.
Shares of the company witnessed a loss of 21.99% over the previous month, trailing the performance of the Oils-Energy sector with its gain of 3.54% and the S&P 500's loss of 2.79%.
The investment community will be paying close attention to the earnings performance of Array Technologies, Inc. in its upcoming release. The company is predicted to post an EPS of $0.08, indicating a 33.33% growth compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $262.86 million, indicating a 71.36% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $0.62 per share and revenue of $1.09 billion, which would represent changes of +3.33% and +19.17%, respectively, from the prior year.
Any recent changes to analyst estimates for Array Technologies, Inc. should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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.
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. Over the past month, the Zacks Consensus EPS estimate has shifted 22.25% downward. Array Technologies, Inc. is currently a Zacks Rank #3 (Hold).
Digging into valuation, Array Technologies, Inc. currently has a Forward P/E ratio of 8.3. This signifies a discount in comparison to the average Forward P/E of 10.11 for its industry.
We can additionally observe that ARRY currently boasts a PEG ratio of 1.05. 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. As of the close of trade yesterday, the Solar industry held an average PEG ratio of 0.68.
The Solar industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 79, positioning it in the top 32% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Array Technologies, Inc. (ARRY): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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