Bloom Energy (BE) closed at $25.33 in the latest trading session, marking a +0.56% move from the prior day. This move lagged the S&P 500's daily gain of 0.69%. Elsewhere, the Dow gained 0.64%, while the tech-heavy Nasdaq lost 0.2%.
Heading into today, shares of the developer of fuel cell systems had lost 1.37% over the past month, lagging the Oils-Energy sector's loss of 0.21% and outpacing the S&P 500's loss of 9.94% in that time.
Wall Street will be looking for positivity from Bloom Energy as it approaches its next earnings report date. In that report, analysts expect Bloom Energy to post earnings of -$0.02 per share. This would mark year-over-year growth of 90%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $284.61 million, up 37.34% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.45 per share and revenue of $1.14 billion, which would represent changes of +18.18% and +17.06%, respectively, from the prior year.
Any recent changes to analyst estimates for Bloom Energy should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Bloom Energy is holding a Zacks Rank of #3 (Hold) right now.
The Alternative Energy - Other industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 76, putting it in the top 31% of all 250+ industries.
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.
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