Plug Power (PLUG) closed the most recent trading day at $8.95, moving -1.43% from the previous trading session. This move lagged the S&P 500's daily gain of 0.58%. Meanwhile, the Dow gained 0.62%, and the Nasdaq, a tech-heavy index, added 0.24%.
Prior to today's trading, shares of the alternative energy company had gained 41.21% over the past month. This has outpaced the Industrial Products sector's gain of 6.99% and the S&P 500's gain of 5.34% in that time.
Wall Street will be looking for positivity from PLUG as it approaches its next earnings report date. In that report, analysts expect PLUG to post earnings of -$0.09 per share. This would mark a year-over-year decline of 12.5%. Meanwhile, our latest consensus estimate is calling for revenue of $57.44 million, up 0.64% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.33 per share and revenue of $289.53 million, which would represent changes of +2.94% and +29.43%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for PLUG. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Over the past month, the Zacks Consensus EPS estimate has moved 4.02% higher. PLUG is currently a Zacks Rank #3 (Hold).
The Manufacturing - Electronics industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 60, putting it in the top 24% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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