Bloom Energy (BE – Free Report) ended the recent trading session at $21.12, demonstrating a -0.56% swing from the preceding day’s closing price. The stock’s performance was behind the S&P 500’s daily gain of 0.67%. At the same time, the Dow added 0.56%, and the tech-heavy Nasdaq gained 0.87%.
The the stock of developer of fuel cell systems has fallen by 6.43% in the past month, lagging the Oils-Energy sector’s gain of 3.06% and the S&P 500’s loss of 5.28%.
The investment community will be closely monitoring the performance of Bloom Energy in its forthcoming earnings report. The company’s earnings per share (EPS) are projected to be -$0.08, reflecting a 52.94% increase from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $293.04 million, up 24.54% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0.38 per share and a revenue of $1.75 billion, representing changes of +35.71% and +18.45%, respectively, from the prior year.
Any recent changes to analyst estimates for Bloom Energy should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts’ confidence in the company’s business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 22.22% downward. Bloom Energy is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Bloom Energy’s current valuation metrics, including its Forward P/E ratio of 55.9. For comparison, its industry has an average Forward P/E of 17.71, which means Bloom Energy is trading at a premium to the group.
It’s also important to note that BE currently trades at a PEG ratio of 1.35. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock’s expected earnings growth rate. By the end of yesterday’s trading, the Alternative Energy – Other industry had an average PEG ratio of 1.56.
The Alternative Energy – Other industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 134, this industry ranks in the bottom 47% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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