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Plug Power (PLUG) closed the most recent trading day at $16.89, moving +1.87% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.13%. Elsewhere, the Dow lost 0.15%, while the tech-heavy Nasdaq added 0.14%.
Heading into today, shares of the alternative energy company had gained 9.22% over the past month, outpacing the Industrial Products sector's loss of 4.99% and the S&P 500's loss of 3.32% in that time.
Wall Street will be looking for positivity from Plug Power as it approaches its next earnings report date. The company is expected to report EPS of -$0.18, unchanged from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $174.25 million, up 39.89% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.67 per share and revenue of $925.28 million, which would represent changes of +16.25% and +84.19%, respectively, from the prior 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 company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 3.96% lower within the past month. Plug Power is currently a Zacks Rank #4 (Sell).
The Manufacturing - Electronics industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 152, which puts it in the bottom 40% 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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