Bloom Energy (BE) closed at $280.50 in the latest trading session, marking a +2.82% move from the prior day. The stock outpaced the S&P 500’s daily gain of 0.6%. On the other hand, the Dow registered a gain of 0.83%, and the technology-centric Nasdaq increased by 0.64%.
Shares of the developer of fuel cell systems have appreciated by 5.54% over the course of the past month, outperforming the Oils-Energy sector’s gain of 2.1%, and the S&P 500’s gain of 1.34%.
The upcoming earnings release of Bloom Energy will be of great interest to investors. The company is expected to report EPS of $0.71, up 373.33% from the prior-year quarter. Simultaneously, our latest consensus estimate expects the revenue to be $1.07 billion, showing a 106.31% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $2.69 per share and revenue of $4.14 billion, which would represent changes of +253.95% and +104.34%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Bloom Energy. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.68% decrease. Bloom Energy is currently a Zacks Rank #3 (Hold).
In terms of valuation, Bloom Energy is currently trading at a Forward P/E ratio of 101.42. This represents a premium compared to its industry average Forward P/E of 17.2.
It’s also important to note that BE currently trades at a PEG ratio of 2.67. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company’s expected earnings growth rate into account. By the end of yesterday’s trading, the Alternative Energy – Other industry had an average PEG ratio of 1.99.
The Alternative Energy – Other industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 90, which puts it in the top 37% of all 250+ industries.
Source: finance.yahoo.com — article syndicated from the publisher’s feed; all rights remain with the original publisher.
