Bloom Energy (BE) closed at $263.61 in the latest trading session, marking a -9.53% move from the prior day. This move lagged the S&P 500's daily loss of 2.65%. Meanwhile, the Dow lost 1.35%, and the Nasdaq, a tech-heavy index, lost 4.18%.
Shares of the developer of fuel cell systems have appreciated by 12.65% over the course of the past month, outperforming the Oils-Energy sector's loss of 3.06%, and the S&P 500's gain of 5.47%.
The investment community will be paying close attention to the earnings performance of Bloom Energy in its upcoming release. The company's earnings per share (EPS) are projected to be $0.35, reflecting a 250% increase from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $766.88 million, up 91.13% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $1.91 per share and a revenue of $3.65 billion, demonstrating changes of +151.32% and +80.33%, respectively, from the preceding year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Bloom Energy. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. Within the past 30 days, our consensus EPS projection remained stagnant. Bloom Energy is currently sporting a Zacks Rank of #1 (Strong Buy).
In terms of valuation, Bloom Energy is currently trading at a Forward P/E ratio of 152.55. This indicates a premium in contrast to its industry's Forward P/E of 17.69.
The Alternative Energy - Other industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 105, finds itself in the top 44% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Bloom Energy Corporation (BE): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).