Bloom Energy (BE – Free Report) closed the most recent trading day at $24.19, moving -1.14% from the previous trading session. This change lagged the S&P 500’s 0.64% gain on the day. Meanwhile, the Dow experienced a rise of 0.85%, and the technology-dominated Nasdaq saw an increase of 0.31%.
Coming into today, shares of the developer of fuel cell systems had lost 3.7% in the past month. In that same time, the Oils-Energy sector lost 3.15%, while the S&P 500 lost 7.69%.
Investors will be eagerly watching for the performance of Bloom Energy in its upcoming earnings disclosure. The company is predicted to post an EPS of -$0.08, indicating a 52.94% growth compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $290.06 million, up 23.27% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $0.38 per share and a revenue of $1.74 billion, indicating changes of +35.71% and +18.24%, respectively, from the former year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Bloom Energy. These revisions typically reflect the latest short-term business trends, which can change frequently. 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 exploit this, we’ve formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. The Zacks Consensus EPS estimate has moved 200% higher within the past month. Bloom Energy presently features a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that Bloom Energy has a Forward P/E ratio of 64.39 right now. This denotes a premium relative to the industry’s average Forward P/E of 18.97.
It’s also important to note that BE currently trades at a PEG ratio of 1.58. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company’s projected earnings growth. The average PEG ratio for the Alternative Energy – Other industry stood at 2.21 at the close of the market yesterday.
The Alternative Energy – Other industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 64, placing it within the top 26% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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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