Zacks: Analysts Expect Plug Power Inc (PLUG) Will Announce Earnings of -$0.06 Per Share
Equities analysts expect Plug Power Inc (NASDAQ:PLUG) to post ($0.06) earnings per share for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Plug Power’s earnings, with the lowest EPS estimate coming in at ($0.08) and the highest estimate coming in at ($0.04). Plug Power posted earnings of ($0.08) per share in the same quarter last year, which indicates a positive year-over-year growth rate of 25%. The business is expected to announce its next quarterly earnings results on Thursday, March 8th.
According to Zacks, analysts expect that Plug Power will report full-year earnings of ($0.51) per share for the current year, with EPS estimates ranging from ($0.58) to ($0.31). For the next year, analysts expect that the firm will post earnings of ($0.14) per share, with EPS estimates ranging from ($0.21) to ($0.08). Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that that provide coverage for Plug Power.
Plug Power (NASDAQ:PLUG) last released its quarterly earnings data on Wednesday, November 8th. The electronics maker reported ($0.04) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.04). The company had revenue of $61.43 million during the quarter, compared to analysts’ expectations of $54.57 million. Plug Power had a negative net margin of 96.27% and a negative return on equity of 83.93%. The firm’s quarterly revenue was up 249.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.07 EPS.
Several research firms have issued reports on PLUG. B. Riley reissued a “buy” rating on shares of Plug Power in a research report on Wednesday, November 1st. Craig Hallum boosted their price objective on shares of Plug Power from $3.00 to $4.00 and gave the company a “buy” rating in a research report on Friday, October 6th. Zacks Investment Research raised shares of Plug Power from a “sell” rating to a “hold” rating in a research report on Tuesday, October 17th. Cowen reissued a “buy” rating and issued a $3.00 price objective on shares of Plug Power in a research report on Tuesday, October 17th. Finally, FBR & Co reissued a “buy” rating on shares of Plug Power in a research report on Tuesday, October 31st. Four analysts have rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company. Plug Power presently has an average rating of “Hold” and an average target price of $3.23.
Several institutional investors and hedge funds have recently made changes to their positions in PLUG. Vanguard Group Inc. lifted its position in shares of Plug Power by 30.6% in the 2nd quarter. Vanguard Group Inc. now owns 10,432,461 shares of the electronics maker’s stock worth $21,283,000 after purchasing an additional 2,444,005 shares during the period. Northern Trust Corp lifted its position in shares of Plug Power by 39.5% in the 2nd quarter. Northern Trust Corp now owns 2,828,390 shares of the electronics maker’s stock worth $5,770,000 after purchasing an additional 800,320 shares during the period. State Street Corp lifted its position in shares of Plug Power by 14.6% in the 2nd quarter. State Street Corp now owns 3,742,566 shares of the electronics maker’s stock worth $7,635,000 after purchasing an additional 477,438 shares during the period. Schwab Charles Investment Management Inc. lifted its position in shares of Plug Power by 58.4% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,217,301 shares of the electronics maker’s stock worth $2,484,000 after purchasing an additional 448,639 shares during the period. Finally, NJ State Employees Deferred Compensation Plan purchased a new stake in shares of Plug Power in the 3rd quarter worth approximately $783,000. 24.30% of the stock is owned by hedge funds and other institutional investors.
Plug Power (NASDAQ:PLUG) traded down $0.01 during trading on Friday, reaching $2.32. 3,202,251 shares of the company’s stock traded hands, compared to its average volume of 3,210,000. The stock has a market cap of $530.05, a PE ratio of -3.80 and a beta of 1.64. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.86 and a current ratio of 1.29. Plug Power has a 12 month low of $0.83 and a 12 month high of $3.21.
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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