In the latest close session, Plug Power (PLUG) was down 2.63% at $1.11. This move lagged the S&P 500's daily loss of 0.22%. Elsewhere, the Dow gained 0.08%, while the tech-heavy Nasdaq lost 0.51%.
Shares of the alternative energy company have appreciated by 42.52% over the course of the past month, outperforming the Computer and Technology sector's gain of 2.98%, and the S&P 500's gain of 0.45%.
Analysts and investors alike will be keeping a close eye on the performance of Plug Power in its upcoming earnings disclosure. The company is expected to report EPS of -$0.15, up 58.33% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $153.26 million, indicating a 6.91% upward movement from the same quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.59 per share and revenue of $715.37 million. These totals would mark changes of +77.99% and +13.77%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Plug Power. 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 business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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, there's been a 1.69% rise in the Zacks Consensus EPS estimate. Plug Power is currently a Zacks Rank #3 (Hold).
The Electronics - Miscellaneous Products industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 148, putting it in the bottom 40% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the 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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