Array Technologies, Inc. (ARRY) closed the most recent trading day at $5.29, making no change from the previous trading session. This change lagged the S&P 500's 0.58% gain on the day. Meanwhile, the Dow experienced a rise of 0.75%, and the technology-dominated Nasdaq saw an increase of 0.55%.
Shares of the company have appreciated by 8.62% over the course of the past month, outperforming the Oils-Energy sector's loss of 8.92% and the S&P 500's loss of 0.84%.
The investment community will be paying close attention to the earnings performance of Array Technologies, Inc. in its upcoming release. The company is slated to reveal its earnings on May 6, 2025. The company is predicted to post an EPS of $0.09, indicating a 50% growth compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $263.11 million, up 71.52% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $0.61 per share and a revenue of $1.09 billion, demonstrating changes of +1.67% and +18.61%, respectively, from the preceding year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Array Technologies, Inc. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 5.58% decrease. As of now, Array Technologies, Inc. holds a Zacks Rank of #3 (Hold).
Digging into valuation, Array Technologies, Inc. currently has a Forward P/E ratio of 8.72. This indicates a discount in contrast to its industry's Forward P/E of 11.21.
Also, we should mention that ARRY has a PEG ratio of 0.4. 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. The Solar was holding an average PEG ratio of 0.4 at yesterday's closing price.
The Solar industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 193, putting it in the bottom 23% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming 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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