Zacks: Analysts Anticipate Plug Power, Inc. (PLUG) Will Announce Quarterly Sales of $54.39 Million
Equities research analysts predict that Plug Power, Inc. (NASDAQ:PLUG) will post $54.39 million in sales for the current quarter, according to Zacks. Four analysts have provided estimates for Plug Power’s earnings, with the lowest sales estimate coming in at $49.70 million and the highest estimate coming in at $58.17 million. Plug Power reported sales of $17.56 million in the same quarter last year, which indicates a positive year over year growth rate of 209.7%. The company is scheduled to issue its next quarterly earnings results on Monday, November 6th.
On average, analysts expect that Plug Power will report full-year sales of $54.39 million for the current year, with estimates ranging from $130.10 million to $146.38 million. For the next financial year, analysts forecast that the business will report sales of $226.32 million per share, with estimates ranging from $185.39 million to $285.25 million. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Plug Power.
Plug Power (NASDAQ:PLUG) last announced its earnings results on Tuesday, August 8th. The electronics maker reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by $0.03. The business had revenue of $22.60 million for the quarter, compared to analysts’ expectations of $28.58 million. Plug Power had a negative net margin of 112.95% and a negative return on equity of 86.35%. The firm’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.04) earnings per share.
PLUG has been the topic of a number of research reports. FBR & Co reissued an “outperform” rating and issued a $3.00 price objective on shares of Plug Power in a research note on Wednesday, May 3rd. Roth Capital cut shares of Plug Power from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $2.25 to $1.30 in a research note on Wednesday, May 17th. ValuEngine cut shares of Plug Power from a “hold” rating to a “sell” rating in a research note on Thursday, May 18th. Cowen and Company set a $3.00 price target on shares of Plug Power and gave the stock a “buy” rating in a research note on Monday, July 10th. Finally, Zacks Investment Research cut shares of Plug Power from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 12th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. Plug Power presently has an average rating of “Hold” and an average price target of $2.83.
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Shares of Plug Power (NASDAQ:PLUG) opened at 2.13 on Thursday. The stock’s 50 day moving average is $2.17 and its 200 day moving average is $1.85. Plug Power has a 12 month low of $0.83 and a 12 month high of $2.70. The stock’s market capitalization is $478.67 million.
Several large investors have recently added to or reduced their stakes in PLUG. Archford Capital Strategies LLC raised its position in shares of Plug Power by 20,422.2% in the second quarter. Archford Capital Strategies LLC now owns 1,847 shares of the electronics maker’s stock valued at $115,000 after buying an additional 1,838 shares during the last quarter. Adalta Capital Management LLC bought a new position in shares of Plug Power during the second quarter valued at $106,000. California State Teachers Retirement System raised its position in shares of Plug Power by 5.1% in the second quarter. California State Teachers Retirement System now owns 395,969 shares of the electronics maker’s stock valued at $808,000 after buying an additional 19,300 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Plug Power by 17.5% in the second quarter. The Manufacturers Life Insurance Company now owns 177,008 shares of the electronics maker’s stock valued at $361,000 after buying an additional 26,426 shares during the last quarter. Finally, State Street Corp raised its position in shares of Plug Power by 14.6% in the second quarter. State Street Corp now owns 3,742,566 shares of the electronics maker’s stock valued at $7,635,000 after buying an additional 477,438 shares during the last quarter. 23.79% of the stock is currently owned by institutional investors.
Plug Power Company Profile
Plug Power Inc is a provider of alternative energy technology focused on the design, development, commercialization and manufacture of hydrogen fuel cell systems used for the industrial off-road market and the stationary power market. The Company’s product line includes GenKey, GenDrive, GenFuel, GenCare and ReliOn.
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