The most recent trading session ended with Plug Power (PLUG) standing at $1.35, reflecting a +0.75% shift from the previouse trading day's closing. This move outpaced the S&P 500's daily gain of 0.55%. Meanwhile, the Dow gained 1.01%, and the Nasdaq, a tech-heavy index, lost 0.14%.
Coming into today, shares of the alternative energy company had lost 16.77% in the past month. In that same time, the Industrial Products sector lost 6%, while the S&P 500 lost 6.22%.
The investment community will be closely monitoring the performance of Plug Power in its forthcoming earnings report. The company is expected to report EPS of -$0.20, up 53.49% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $128.91 million, up 7.19% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$0.63 per share and a revenue of $720.01 million, indicating changes of +76.49% and +14.5%, respectively, from the former year.
Investors might also notice recent changes to analyst estimates for Plug Power. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
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. Over the past month, there's been a 3.94% fall in the Zacks Consensus EPS estimate. Plug Power is currently sporting 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 49, positioning it in the top 20% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Plug Power, Inc. (PLUG): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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