Wall Street brokerages expect Plug Power Inc. (NASDAQ:PLUG – Get Rating) to post sales of $190.78 million for the current fiscal quarter, Zacks reports. Nine analysts have made estimates for Plug Power’s earnings. The lowest sales estimate is $150.00 million and the highest is $273.16 million. Plug Power reported sales of $124.56 million during the same quarter last year, which indicates a positive year-over-year growth rate of 53.2%. The firm is expected to report its next quarterly earnings results on Monday, January 1st.
According to Zacks, analysts expect that Plug Power will report full-year sales of $926.03 million for the current year, with estimates ranging from $905.27 million to $980.61 million. For the next year, analysts anticipate that the company will post sales of $1.52 billion, with estimates ranging from $1.21 billion to $2.36 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Plug Power.
Plug Power (NASDAQ:PLUG – Get Rating) last issued its quarterly earnings data on Monday, May 9th. The electronics maker reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.11). Plug Power had a negative return on equity of 11.78% and a negative net margin of 97.29%. The business had revenue of $140.80 million during the quarter, compared to the consensus estimate of $142.99 million. During the same quarter last year, the company earned ($0.12) EPS. Plug Power’s revenue for the quarter was up 95.7% on a year-over-year basis.
Several research firms have recently weighed in on PLUG. Susquehanna decreased their target price on Plug Power from $33.00 to $30.00 in a research report on Tuesday, May 10th. Evercore ISI dropped their price target on Plug Power from $50.00 to $46.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 2nd. Canaccord Genuity Group lowered their price objective on Plug Power from $25.00 to $21.00 and set a “hold” rating on the stock in a research report on Monday, March 7th. Craig Hallum reduced their target price on Plug Power from $49.00 to $31.00 in a research note on Tuesday, May 10th. Finally, Morgan Stanley decreased their price objective on Plug Power from $65.00 to $60.00 and set an “overweight” rating on the stock in a report on Tuesday, March 22nd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $35.40.
NASDAQ PLUG opened at $17.90 on Friday. The company has a quick ratio of 10.51, a current ratio of 11.44 and a debt-to-equity ratio of 0.12. The company has a fifty day moving average of $21.79 and a two-hundred day moving average of $25.45. The firm has a market capitalization of $10.35 billion, a price-to-earnings ratio of -18.45 and a beta of 1.73. Plug Power has a 52 week low of $12.70 and a 52 week high of $46.50.
A number of hedge funds have recently modified their holdings of the business. Benjamin Edwards Inc. bought a new stake in Plug Power during the 4th quarter worth approximately $25,000. Parkside Financial Bank & Trust grew its stake in shares of Plug Power by 929.8% in the fourth quarter. Parkside Financial Bank & Trust now owns 968 shares of the electronics maker’s stock worth $27,000 after acquiring an additional 874 shares during the period. Tyler Stone Wealth Management bought a new stake in Plug Power during the fourth quarter valued at approximately $28,000. Activest Wealth Management purchased a new position in Plug Power during the fourth quarter valued at approximately $28,000. Finally, Acima Private Wealth LLC purchased a new position in shares of Plug Power in the fourth quarter worth $28,000. 52.07% of the stock is owned by institutional investors and hedge funds.
About Plug Power (Get Rating)
Plug Power Inc provides hydrogen fuel cell turnkey solutions for the mobility, material handling, and stationary power markets in North America and internationally. It focuses on proton exchange membrane (PEM) fuel cell and fuel processing technologies, and fuel cell/battery hybrid technologies, as well as related hydrogen and green hydrogen generation, storage, and dispensing infrastructure.
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