Plug Power (PLUG) Outpaces Stock Market Gains: What You Should Know
Plug Power (PLUG) closed the most recent trading day at $9.50, moving +1.77% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.78%. At the same time, the Dow added 0.68%, and the tech-heavy Nasdaq gained 1.44%.
Coming into today, shares of the alternative energy company had gained 83.22% in the past month. In that same time, the Industrial Products sector lost 6.28%, while the S&P 500 lost 1.32%.
PLUG will be looking to display strength as it nears its next earnings release. On that day, PLUG is projected to report earnings of -$0.09 per share, which would represent 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.
PLUG's full-year Zacks Consensus Estimates are calling for earnings of -$0.33 per share and revenue of $289.53 million. These results would represent year-over-year changes of +2.94% and +29.43%, respectively.
Investors might also notice recent changes to analyst estimates for PLUG. These recent revisions tend to reflect the evolving nature of short-term business trends. 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. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 3.19% higher. PLUG currently has a Zacks Rank of #3 (Hold).
The Manufacturing - Electronics industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 85, which puts it in the top 34% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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