Plug Power (PLUG) ended the recent trading session at $2.40, demonstrating a +1.05% change from the preceding day's closing price. The stock exceeded the S&P 500, which registered a gain of 0.62% for the day. At the same time, the Dow added 0.99%, and the tech-heavy Nasdaq gained 0.65%.
Shares of the alternative energy company have appreciated by 9.72% over the course of the past month, outperforming the Computer and Technology sector's loss of 1.47%, and the S&P 500's gain of 0.59%.
The investment community will be paying close attention to the earnings performance of Plug Power in its upcoming release. In that report, analysts expect Plug Power to post earnings of -$0.11 per share. This would mark year-over-year growth of 93.33%. In the meantime, our current consensus estimate forecasts the revenue to be $219.96 million, indicating a 14.88% growth compared to the corresponding quarter of the prior year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.8 per share and revenue of $701.76 million. These totals would mark changes of +70.15% and 0%, respectively, from last year.
Investors should also take note of any recent adjustments to analyst estimates for Plug Power. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the 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. 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, 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 remained stagnant. At present, Plug Power boasts a Zacks Rank of #3 (Hold).
The Electronics - Miscellaneous Products industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 91, finds itself in the top 38% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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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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