Yahoo Finance Array Technologies, Inc. (ARRY) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Array Technologies, Inc. (ARRY) closed at $19.63, marking a -1.36% move from the previous day. This move lagged the S&P 500's daily gain of 0.36%. Meanwhile, the Dow gained 0.01%, and the Nasdaq, a tech-heavy index, added 1.91%.
Prior to today's trading, shares of the company had lost 7.31% over the past month. This has lagged the Oils-Energy sector's loss of 2.56% and the S&P 500's gain of 1.24% in that time.
Investors will be hoping for strength from Array Technologies, Inc. as it approaches its next earnings release. The company is expected to report EPS of $0.04, up 300% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $322.15 million, up 7.17% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.83 per share and revenue of $1.9 billion. These totals would mark changes of +118.42% and +15.61%, respectively, from last year.
Any recent changes to analyst estimates for Array Technologies, Inc. should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.5% higher. Array Technologies, Inc. is currently a Zacks Rank #3 (Hold).
In terms of valuation, Array Technologies, Inc. is currently trading at a Forward P/E ratio of 24.06. For comparison, its industry has an average Forward P/E of 27.06, which means Array Technologies, Inc. is trading at a discount to the group.
The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 96, which puts it in the top 39% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Array Technologies, Inc. (ARRY) : Free Stock Analysis Report
