Zacks Equity Research
3 min read
Bloom Energy (BE) ended the recent trading session at $272.89, demonstrating a +2.73% change from the preceding day’s closing price. The stock’s change was more than the S&P 500’s daily gain of 1.49%. At the same time, the Dow added 0.71%, and the tech-heavy Nasdaq gained 2.26%.
Coming into today, shares of the developer of fuel cell systems had gained 31.86% in the past month. In that same time, the Oils-Energy sector gained 0.51%, while the S&P 500 gained 0.1%.
Analysts and investors alike will be keeping a close eye on the performance of Bloom Energy in its upcoming earnings disclosure. On that day, Bloom Energy is projected to report earnings of $0.72 per share, which would represent year-over-year growth of 380%. Our most recent consensus estimate is calling for quarterly revenue of $1.07 billion, up 106.31% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $2.7 per share and a revenue of $4.14 billion, representing changes of +255.26% and +104.34%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Bloom Energy. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts’ positivity towards the business operations and its ability to generate profits.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, there’s been no change in the Zacks Consensus EPS estimate. Bloom Energy presently features a Zacks Rank of #1 (Strong Buy).
Looking at valuation, Bloom Energy is presently trading at a Forward P/E ratio of 98.26. This valuation marks a premium compared to its industry average Forward P/E of 17.31.
We can additionally observe that BE currently boasts a PEG ratio of 2.59. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company’s expected earnings growth trajectory. BE’s industry had an average PEG ratio of 2.23 as of yesterday’s close.
