Brokerages Anticipate Plug Power, Inc. (PLUG) Will Post Earnings of -$0.03 Per Share
Wall Street brokerages forecast that Plug Power, Inc. (NASDAQ:PLUG) will post earnings per share of ($0.03) for the current quarter, according to Zacks. Four analysts have made estimates for Plug Power’s earnings. The highest EPS estimate is ($0.02) and the lowest is ($0.05). Plug Power posted earnings per share of ($0.07) in the same quarter last year, which suggests a positive year-over-year growth rate of 57.1%. The company is scheduled to announce its next quarterly earnings results on Monday, November 6th.
On average, analysts expect that Plug Power will report full-year earnings of ($0.34) per share for the current fiscal year, with EPS estimates ranging from ($0.43) to ($0.27). For the next financial year, analysts expect that the firm will report earnings of ($0.11) per share, with EPS estimates ranging from ($0.22) to $0.03. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that cover 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 analysts’ consensus estimates of ($0.07) by ($0.03). The firm had revenue of $22.60 million during 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 revenue for the quarter was up 10.5% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.04) EPS.
A number of equities analysts have weighed in on the stock. Cowen and Company reiterated a “buy” rating and issued a $3.00 price target on shares of Plug Power in a report on Sunday. Zacks Investment Research lowered shares of Plug Power from a “buy” rating to a “hold” rating in a report on Saturday, August 12th. HC Wainwright set a $4.00 price target on shares of Plug Power and gave the company a “buy” rating in a report on Wednesday, August 9th. BidaskClub lowered shares of Plug Power from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Finally, FBR & Co reiterated an “outperform” rating and issued a $3.50 price target (up previously from $3.00) on shares of Plug Power in a report on Tuesday, July 25th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. Plug Power currently has a consensus rating of “Hold” and an average price target of $2.83.
Shares of Plug Power (PLUG) traded up 0.90% during mid-day trading on Friday, reaching $2.25. The company’s stock had a trading volume of 6,257,448 shares. Plug Power has a 1-year low of $0.83 and a 1-year high of $2.70. The company’s market capitalization is $505.64 million. The firm’s 50 day moving average price is $2.17 and its 200-day moving average price is $1.96.
Several hedge funds have recently modified their holdings of the company. Archford Capital Strategies LLC raised its stake in shares of Plug Power by 20,422.2% in the 2nd quarter. Archford Capital Strategies LLC now owns 1,847 shares of the electronics maker’s stock valued at $115,000 after acquiring an additional 1,838 shares during the period. Adalta Capital Management LLC purchased a new position in shares of Plug Power in the 2nd quarter valued at $106,000. California State Teachers Retirement System raised its stake in shares of Plug Power by 5.1% in the 2nd quarter. California State Teachers Retirement System now owns 395,969 shares of the electronics maker’s stock valued at $808,000 after acquiring an additional 19,300 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of Plug Power by 17.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 177,008 shares of the electronics maker’s stock valued at $361,000 after acquiring an additional 26,426 shares during the period. Finally, State Street Corp raised its stake 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 valued at $7,635,000 after acquiring an additional 477,438 shares during the period. 23.79% of the stock is currently owned by institutional investors and hedge funds.
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About Plug Power
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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