Plug Power (PLUG) Flat As Market Gains: What You Should Know
Plug Power (PLUG) closed at $11.80 in the latest trading session, marking no change from the prior day. This change lagged the S&P 500's 1.76% gain on the day. Meanwhile, the Dow gained 1.17%, and the Nasdaq, a tech-heavy index, added 3.03%.
Coming into today, shares of the alternative energy company had lost 29.64% in the past month. In that same time, the Industrial Products sector lost 8.43%, while the S&P 500 lost 5.94%.
Plug Power will be looking to display strength as it nears its next earnings release. In that report, analysts expect Plug Power to post earnings of -$0.24 per share. This would mark year-over-year growth of 11.11%. Meanwhile, our latest consensus estimate is calling for revenue of $223.78 million, up 58.94% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.73 per share and revenue of $1.33 billion. These totals would mark changes of +41.6% and +89.16%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Plug Power. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Within the past 30 days, our consensus EPS projection has moved 5.45% lower. Plug Power currently has a Zacks Rank of #3 (Hold).
The Manufacturing - Electronics industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 97, putting it in the top 39% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Plug Power, Inc. (PLUG) : Free Stock Analysis Report
