Bloom Energy (BE) closed at $280.50 in the latest trading session, marking a +2.82% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.6%. On the other hand, the Dow registered a gain of 0.83%, and the technology-centric Nasdaq increased by 0.64%.
Shares of the developer of fuel cell systems have appreciated by 5.54% over the course of the past month, outperforming the Oils-Energy sector's gain of 2.1%, and the S&P 500's gain of 1.34%.
The upcoming earnings release of Bloom Energy will be of great interest to investors. The company is expected to report EPS of $0.71, up 373.33% from the prior-year quarter. Simultaneously, our latest consensus estimate expects the revenue to be $1.07 billion, showing a 106.31% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $2.69 per share and revenue of $4.14 billion, which would represent changes of +253.95% and +104.34%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Bloom Energy. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.68% decrease. Bloom Energy is currently a Zacks Rank #3 (Hold).
In terms of valuation, Bloom Energy is currently trading at a Forward P/E ratio of 101.42. This represents a premium compared to its industry average Forward P/E of 17.2.
It's also important to note that BE currently trades at a PEG ratio of 2.67. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. By the end of yesterday's trading, the Alternative Energy - Other industry had an average PEG ratio of 1.99.
The Alternative Energy - Other industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 90, which puts it in the top 37% 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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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This article originally published on Zacks Investment Research (zacks.com).