In the latest trading session, Bloom Energy (BE) closed at $80.97, marking a +1.63% move from the previous day. This change outpaced the S&P 500's 0.48% gain on the day. At the same time, the Dow added 0.27%, and the tech-heavy Nasdaq gained 0.94%.
The developer of fuel cell systems's stock has climbed by 78.99% in the past month, exceeding the Oils-Energy sector's gain of 3.84% and the S&P 500's gain of 2.46%.
The upcoming earnings release of Bloom Energy will be of great interest to investors. The company's upcoming EPS is projected at $0.06, signifying a 700.00% increase compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $410.16 million, reflecting a 24.14% rise from the equivalent quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $0.48 per share and a revenue of $1.77 billion, indicating changes of +71.43% and +20.28%, 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. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Bloom Energy presently features a Zacks Rank of #3 (Hold).
Looking at valuation, Bloom Energy is presently trading at a Forward P/E ratio of 167.14. This denotes a premium relative to the industry average Forward P/E of 20.07.
It is also worth noting that BE currently has a PEG ratio of 5.97. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Alternative Energy - Other industry currently had an average PEG ratio of 2.39 as of yesterday's close.
The Alternative Energy - Other industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 178, positioning it in the bottom 28% of all 250+ industries.
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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Bloom Energy Corporation (BE): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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