Plug Power (PLUG) closed at $5.48 in the latest trading session, marking a +1.67% move from the prior day. This move outpaced the S&P 500's daily loss of 0.57%. Elsewhere, the Dow lost 0.8%, while the tech-heavy Nasdaq added 0.03%.
PLUG will be looking to display strength as it nears its next earnings release. On that day, PLUG is projected to report earnings of -$0.09 per share, which would represent a year-over-year decline of 12.5%. Our most recent consensus estimate is calling for quarterly revenue of $57.44 million, up 0.64% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.35 per share and revenue of $280.60 million, which would represent changes of -2.94% and +25.43%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for PLUG. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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, 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, the Zacks Consensus EPS estimate has moved 1.75% lower. PLUG is currently sporting a Zacks Rank of #3 (Hold).
The Manufacturing - Electronics industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 51, which puts it in the top 21% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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