Bloom Energy (BE) ended the recent trading session at $90.29, demonstrating a +2.6% change from the preceding day’s closing price. The stock exceeded the S&P 500, which registered a gain of 0.01% for the day. Elsewhere, the Dow gained 0.51%, while the tech-heavy Nasdaq lost 0.28%.
The developer of fuel cell systems’s stock has climbed by 60.26% in the past month, exceeding the Oils-Energy sector’s loss of 0.05% and the S&P 500’s gain of 4.83%.
The upcoming earnings release of Bloom Energy will be of great interest to investors. In that report, analysts expect Bloom Energy to post earnings of $0.07 per share. This would mark year-over-year growth of 800%. Meanwhile, our latest consensus estimate is calling for revenue of $411.09 million, up 24.42% from the prior-year quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $0.48 per share and revenue of $1.77 billion, indicating changes of +71.43% and +20.37%, respectively, compared to the previous year.
Investors should also note any recent changes to analyst estimates for Bloom Energy. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we’ve crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 10% higher. As of now, Bloom Energy holds a Zacks Rank of #3 (Hold).
Digging into valuation, Bloom Energy currently has a Forward P/E ratio of 183.97. This represents a premium compared to its industry average Forward P/E of 20.58.
It is also worth noting that BE currently has a PEG ratio of 6.57. 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 the market closed yesterday, the Alternative Energy – Other industry was having an average PEG ratio of 2.33.
The Alternative Energy – Other industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 162, positioning it in the bottom 35% of all 250+ industries.
