Zacks: Brokerages Expect Plug Power Inc (PLUG) to Post -$0.04 EPS

Equities research analysts expect Plug Power Inc (NASDAQ:PLUG) to report earnings of ($0.04) per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Plug Power’s earnings, with the highest EPS estimate coming in at $0.07 and the lowest estimate coming in at ($0.08). Plug Power posted earnings of ($0.08) per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 50%. The firm is expected to issue its next quarterly earnings results on Thursday, March 8th.

According to Zacks, analysts expect that Plug Power will report full year earnings of ($0.51) per share for the current fiscal year, with EPS estimates ranging from ($0.58) to ($0.31). For the next year, analysts forecast that the company will post earnings of ($0.15) per share, with EPS estimates ranging from ($0.21) to ($0.08). Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Plug Power.

Plug Power (NASDAQ:PLUG) last posted its earnings results on Wednesday, November 8th. The electronics maker reported ($0.04) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.04). Plug Power had a negative return on equity of 177.80% and a negative net margin of 115.87%. The business had revenue of $61.43 million during the quarter, compared to analyst estimates of $54.57 million. During the same quarter last year, the firm earned $0.07 earnings per share. The company’s revenue for the quarter was up 249.0% compared to the same quarter last year.

A number of brokerages have weighed in on PLUG. B. Riley restated a “buy” rating on shares of Plug Power in a research note on Wednesday, November 1st. Canaccord Genuity assumed coverage on Plug Power in a research report on Friday. They issued a “buy” rating and a $5.00 target price for the company. Cowen reiterated a “buy” rating and issued a $3.00 target price on shares of Plug Power in a research report on Sunday, September 17th. Zacks Investment Research lowered Plug Power from a “hold” rating to a “sell” rating in a research report on Tuesday, September 26th. Finally, HC Wainwright reiterated a “buy” rating and issued a $4.00 target price on shares of Plug Power in a research report on Thursday, November 9th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $3.23.

In related news, Director George C. Mcnamee purchased 200,000 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The shares were acquired at an average price of $2.20 per share, with a total value of $440,000.00. Following the acquisition, the director now owns 486,131 shares in the company, valued at approximately $1,069,488.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 4.90% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. Archford Capital Strategies LLC increased its position in shares of Plug Power by 20,422.2% during the 2nd quarter. Archford Capital Strategies LLC now owns 1,847 shares of the electronics maker’s stock valued at $115,000 after purchasing an additional 1,838 shares during the period. Aperio Group LLC increased its position in shares of Plug Power by 6.4% during the 2nd quarter. Aperio Group LLC now owns 119,061 shares of the electronics maker’s stock valued at $243,000 after purchasing an additional 7,166 shares during the period. American International Group Inc. increased its position in shares of Plug Power by 7.5% during the 1st quarter. American International Group Inc. now owns 111,649 shares of the electronics maker’s stock valued at $154,000 after purchasing an additional 7,773 shares during the period. Nationwide Fund Advisors increased its position in shares of Plug Power by 8.4% during the 2nd quarter. Nationwide Fund Advisors now owns 127,090 shares of the electronics maker’s stock valued at $259,000 after purchasing an additional 9,865 shares during the period. Finally, California State Teachers Retirement System increased its position in shares of Plug Power by 5.1% during the 2nd quarter. California State Teachers Retirement System now owns 395,969 shares of the electronics maker’s stock valued at $808,000 after purchasing an additional 19,300 shares during the period. 24.43% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Plug Power (PLUG) opened at $2.51 on Friday. Plug Power has a 12 month low of $0.83 and a 12 month high of $3.21. The company has a quick ratio of 0.86, a current ratio of 1.29 and a debt-to-equity ratio of 0.62.

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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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Earnings History and Estimates for Plug Power (NASDAQ:PLUG)

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