Bloom Energy (BE) ended the recent trading session at $213.84, demonstrating a -2.37% change from the preceding day's closing price. The stock trailed the S&P 500, which registered a daily gain of 0.8%. Elsewhere, the Dow saw a downswing of 0.15%, while the tech-heavy Nasdaq appreciated by 1.6%.
Shares of the developer of fuel cell systems witnessed a gain of 36.85% over the previous month, beating the performance of the Oils-Energy sector with its gain of 0.77%, and the S&P 500's gain of 5.15%.
Analysts and investors alike will be keeping a close eye on the performance of Bloom Energy in its upcoming earnings disclosure. The company's upcoming EPS is projected at $0.09, signifying a 200.00% increase compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $498.11 million, indicating a 52.79% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $1.38 per share and revenue of $3.25 billion, which would represent changes of +81.58% and +60.51%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications 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 demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.2% upward. Right now, Bloom Energy possesses a Zacks Rank of #1 (Strong Buy).
In the context of valuation, Bloom Energy is at present trading with a Forward P/E ratio of 158.53. This denotes a premium relative to the industry average Forward P/E of 17.34.
Also, we should mention that BE has a PEG ratio of 6.34. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. As the market closed yesterday, the Alternative Energy - Other industry was having an average PEG ratio of 2.33.
The Alternative Energy - Other industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 82, placing it within the top 34% of over 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Bloom Energy Corporation (BE): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).