Array Technologies, Inc. (ARRY) Stock Moves -2.70%: What You Should Know
Array Technologies, Inc. (ARRY) closed the most recent trading day at $3.96, moving -2.7% from the previous trading session. Elsewhere, the Dow lost 0.36%, while the tech-heavy Nasdaq added 0.45%.
The stock of company has fallen by 10.94% in the past month, lagging the Oils-Energy sector's loss of 0.41% and the S&P 500's gain of 1.27%.
The investment community will be paying close attention to the earnings performance of Array Technologies, Inc. in its upcoming release. The company is predicted to post an EPS of $0.11, indicating a 63.33% decline compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $320.87 million, down 18.46% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $0.74 per share and a revenue of $1.43 billion, indicating changes of +10.45% and +11.57%, respectively, from the former year.
Any recent changes to analyst estimates for Array Technologies, Inc. should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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, there's been a 0.48% fall in the Zacks Consensus EPS estimate. Array Technologies, Inc. is holding a Zacks Rank of #3 (Hold) right now.
In the context of valuation, Array Technologies, Inc. is at present trading with a Forward P/E ratio of 5.52. This signifies a discount in comparison to the average Forward P/E of 11.24 for its industry.
It is also worth noting that ARRY currently has a PEG ratio of 0.5. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. As of the close of trade yesterday, the Solar industry held an average PEG ratio of 0.67.
The Solar industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 234, this industry ranks in the bottom 5% 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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This article originally published on Zacks Investment Research (zacks.com).
