Array Technologies, Inc. (ARRY) closed at $8.76 in the latest trading session, marking a -3.84% move from the prior day. This change lagged the S&P 500's daily gain of 0.06%. At the same time, the Dow added 0.17%, and the tech-heavy Nasdaq gained 0.39%.
Coming into today, shares of the company had gained 5.32% in the past month. In that same time, the Oils-Energy sector gained 0.54%, while the S&P 500 gained 3.94%.
Investors will be eagerly watching for the performance of Array Technologies, Inc. in its upcoming earnings disclosure. In that report, analysts expect Array Technologies, Inc. to post earnings of $0.21 per share. This would mark year-over-year growth of 23.53%. Meanwhile, the latest consensus estimate predicts the revenue to be $313.3 million, indicating a 35.39% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $0.67 per share and revenue of $1.2 billion, which would represent changes of +11.67% and +31.29%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Array Technologies, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.24% higher. Array Technologies, Inc. currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Array Technologies, Inc. is holding a Forward P/E ratio of 13.66. This indicates a discount in contrast to its industry's Forward P/E of 17.09.
We can additionally observe that ARRY currently boasts a PEG ratio of 0.72. 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 Solar industry had an average PEG ratio of 0.8 as trading concluded yesterday.
The Solar industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 27, this industry ranks in the top 11% of all industries, numbering over 250.
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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next 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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