Yahoo Finance Why Plug Power (PLUG) Dipped More Than Broader Market Today
Plug Power (PLUG) ended the recent trading session at $2.38, demonstrating a -1.24% swing from the preceding day's closing price. This change lagged the S&P 500's daily loss of 0.46%. At the same time, the Dow lost 0.98%, and the tech-heavy Nasdaq lost 0.64%.
The alternative energy company's stock has dropped by 29.74% in the past month, falling short of the Industrial Products sector's loss of 2.71% and the S&P 500's loss of 3.04%.
Market participants will be closely following the financial results of Plug Power in its upcoming release. It is anticipated that the company will report an EPS of -$0.32, marking an 8.57% rise compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $172.89 million, indicating a 17.79% decline compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of -$0.94 per share and a revenue of $1.02 billion, demonstrating changes of +59.13% and +13.91%, respectively, from the preceding year.
Investors should also note any recent changes to analyst estimates for Plug Power. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, there's been a 2.71% rise in the Zacks Consensus EPS estimate. Plug Power is currently sporting a Zacks Rank of #3 (Hold).
The Manufacturing - Electronics industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 154, putting it in the bottom 39% 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.
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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Plug Power, Inc. (PLUG) : Free Stock Analysis Report
