-$0.07 Earnings Per Share Expected for Plug Power, Inc. (NASDAQ:PLUG) This Quarter
Wall Street analysts forecast that Plug Power, Inc. (NASDAQ:PLUG) will announce earnings of ($0.07) per share for the current quarter, Zacks reports. Four analysts have made estimates for Plug Power’s earnings, with the lowest EPS estimate coming in at ($0.08) and the highest estimate coming in at ($0.06). Plug Power posted earnings of ($0.04) per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 75%. The company is scheduled to announce its next quarterly earnings results on Thursday, August 3rd.
According to Zacks, analysts expect that Plug Power will report full year earnings of ($0.27) per share for the current year, with EPS estimates ranging from ($0.27) to ($0.25). For the next financial year, analysts forecast that the company will report earnings of ($0.09) per share, with EPS estimates ranging from ($0.16) to $0.04. Zacks’ EPS averages are an average based on a survey of research analysts that that provide coverage for Plug Power.
Plug Power (NASDAQ:PLUG) last announced its quarterly earnings data on Tuesday, May 9th. The electronics maker reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by $0.06. The company had revenue of $15.20 million during the quarter, compared to analyst estimates of $24.90 million. Plug Power had a negative return on equity of 68.47% and a negative net margin of 81.41%. The company’s revenue was down .7% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.05) EPS.
A number of research analysts have commented on the company. FBR & Co set a $3.00 price objective on Plug Power and gave the company an “outperform” rating in a report on Wednesday, May 10th. Roth Capital lowered Plug Power from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $2.25 to $1.30 in a report on Wednesday, May 17th. HC Wainwright set a $4.00 price objective on Plug Power and gave the company a “buy” rating in a report on Thursday, April 6th. ValuEngine raised Plug Power from a “sell” rating to a “hold” rating in a report on Friday, July 7th. Finally, Zacks Investment Research lowered Plug Power from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 12th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. Plug Power currently has a consensus rating of “Hold” and an average price target of $2.80.
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Plug Power (NASDAQ:PLUG) opened at 2.44 on Monday. The company’s market capitalization is $545.23 million. The company has a 50-day moving average price of $2.08 and a 200 day moving average price of $1.67. Plug Power has a 12 month low of $0.83 and a 12 month high of $2.70.
Several hedge funds have recently added to or reduced their stakes in the company. Private Advisor Group LLC raised its stake in Plug Power by 160.9% in the first quarter. Private Advisor Group LLC now owns 51,318 shares of the electronics maker’s stock valued at $115,000 after buying an additional 31,646 shares during the period. Creative Planning raised its stake in Plug Power by 41.5% in the second quarter. Creative Planning now owns 70,472 shares of the electronics maker’s stock valued at $144,000 after buying an additional 20,673 shares during the period. American International Group Inc. raised its stake in Plug Power by 7.5% in the first quarter. American International Group Inc. now owns 111,649 shares of the electronics maker’s stock valued at $154,000 after buying an additional 7,773 shares during the period. Karp Capital Management Corp bought a new stake in Plug Power during the first quarter valued at about $154,000. Finally, Nationwide Fund Advisors raised its stake in Plug Power by 4.6% in the first quarter. Nationwide Fund Advisors now owns 117,225 shares of the electronics maker’s stock valued at $162,000 after buying an additional 5,127 shares during the period. 17.61% of the stock is currently owned by institutional investors.
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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