Plug Power (PLUG) ended the recent trading session at $2.77, demonstrating a +1.09% change from the preceding day's closing price. This change outpaced the S&P 500's 1.02% gain on the day. Elsewhere, the Dow gained 0.63%, while the tech-heavy Nasdaq added 1.23%.
Prior to today's trading, shares of the alternative energy company had gained 27.44% outpaced the Computer and Technology sector's gain of 1.17% and the S&P 500's gain of 0.63%.
Analysts and investors alike will be keeping a close eye on the performance of Plug Power in its upcoming earnings disclosure. The company is forecasted to report an EPS of -$0.1, showcasing a 52.38% upward movement from the corresponding quarter of the prior year. Meanwhile, our latest consensus estimate is calling for revenue of $140.88 million, up 5.4% from the prior-year quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$0.32 per share and a revenue of $798.88 million, indicating changes of +77.46% and +12.53%, respectively, from the former year.
Investors should also take note of any recent adjustments to analyst estimates for Plug Power. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.49% lower within the past month. Right now, Plug Power possesses a Zacks Rank of #3 (Hold).
The Electronics - Miscellaneous Products industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 33, which puts it in the top 14% 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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
Research Chief Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Plug Power, Inc. (PLUG): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).