$54.39 Million in Sales Expected for Plug Power, Inc. (PLUG) This Quarter

Wall Street brokerages predict that Plug Power, Inc. (NASDAQ:PLUG) will post $54.39 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Plug Power’s earnings. The highest sales estimate is $58.17 million and the lowest is $49.70 million. Plug Power reported sales of $17.56 million in the same quarter last year, which indicates a positive year-over-year growth rate of 209.7%. The firm is expected to issue its next earnings results on Monday, November 6th.

On average, analysts expect that Plug Power will report full year sales of $54.39 million for the current financial year, with estimates ranging from $130.10 million to $146.38 million. For the next financial year, analysts expect that the company will post sales of $226.32 million per share, with estimates ranging from $185.39 million to $285.25 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Plug Power.

Plug Power (NASDAQ:PLUG) last issued its quarterly earnings data on Tuesday, August 8th. The electronics maker reported ($0.10) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.07) by $0.03. The company had revenue of $22.60 million for the quarter, compared to analyst estimates of $28.58 million. Plug Power had a negative return on equity of 86.35% and a negative net margin of 112.95%. The company’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.04) EPS.

Several brokerages have recently issued reports on PLUG. Rodman & Renshaw reaffirmed a “buy” rating and issued a $4.00 price target on shares of Plug Power in a research report on Monday, July 24th. Cowen and Company set a $3.00 price target on Plug Power and gave the company a “buy” rating in a research report on Monday, July 10th. BidaskClub raised Plug Power from a “sell” rating to a “hold” rating in a research report on Tuesday, July 25th. ValuEngine downgraded Plug Power from a “hold” rating to a “sell” rating in a research report on Thursday, May 18th. Finally, Roth Capital reaffirmed a “sell” rating and issued a $1.30 price target on shares of Plug Power in a research report on Sunday, July 23rd. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $2.83.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PLUG. Vanguard Group Inc. lifted its stake in shares of Plug Power by 30.6% in the second quarter. Vanguard Group Inc. now owns 10,432,461 shares of the electronics maker’s stock valued at $21,283,000 after buying an additional 2,444,005 shares during the period. Northern Trust Corp lifted its stake in shares of Plug Power by 39.5% in the second quarter. Northern Trust Corp now owns 2,828,390 shares of the electronics maker’s stock valued at $5,770,000 after buying an additional 800,320 shares during the period. State Street Corp lifted its stake in shares of Plug Power by 14.6% in the second quarter. State Street Corp now owns 3,742,566 shares of the electronics maker’s stock valued at $7,635,000 after buying an additional 477,438 shares during the period. Parametric Portfolio Associates LLC bought a new stake in shares of Plug Power in the first quarter valued at about $649,000. Finally, Schwab Charles Investment Management Inc. lifted its stake in shares of Plug Power by 58.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,217,301 shares of the electronics maker’s stock valued at $2,484,000 after buying an additional 448,639 shares during the period. Institutional investors and hedge funds own 23.79% of the company’s stock.

Shares of Plug Power (NASDAQ PLUG) traded up 2.34% on Thursday, hitting $2.19. The company’s stock had a trading volume of 2,007,675 shares. The stock’s 50 day moving average price is $2.18 and its 200 day moving average price is $1.89. The stock’s market capitalization is $492.16 million. Plug Power has a 52 week low of $0.83 and a 52 week high of $2.70.

ILLEGAL ACTIVITY NOTICE: “$54.39 Million in Sales Expected for Plug Power, Inc. (PLUG) This Quarter” was first published by Sports Perspectives and is owned by of Sports Perspectives. If you are reading this report on another website, it was illegally copied and reposted in violation of United States and international trademark & copyright laws. The legal version of this report can be read at https://sportsperspectives.com/2017/09/03/54-39-million-in-sales-expected-for-plug-power-inc-plug-this-quarter.html.

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.

Get a free copy of the Zacks research report on Plug Power (PLUG)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Plug Power Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Plug Power Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply