| Weakness Seen in Plug Power (PLUG) Estimates: Should You Stay Away? - Tale of the Tape | |
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One such stock that you may want to consider dropping is Plug Power Inc. (PLUG), which has witnessed a significant price decline in the past four weeks, and it has seen negative earnings estimate revisions for the current quarter and the current year. A Zacks Rank #4 (Sell) further confirms weakness in PLUG.
A key reason for this move has been the negative trend in earnings estimate revisions. For the full year, we have seen 2 estimates moving down in the past 30 days, compared with no upward revisions. This trend has caused the consensus estimate to trend lower, going from a loss of 12 cents a share a month ago to its current level of a loss of 19 cents.
Also, for the current quarter, Plug Power has seen 2 downward estimate revisions versus 0 revisions in the opposite direction, dragging the consensus estimate down to a loss of 6 cents a share from a loss of 4 cents over the past 30 days.
The stock also has seen some pretty dismal trading lately, as the share price has dropped 15.1% in the past month.
So it may not be a good decision to keep this stock in your portfolio anymore, at least if you don’t have a long time horizon to wait.
If you are still interested in the Industrial Products sector, you may instead consider a better-ranked stock - ESCO Technologies Inc. (ESE). The stock currently holds a Zacks Rank #2 (Buy) and may be better selection at this time.
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Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report PLUG POWER INC (PLUG): Free Stock Analysis Report ESCO TECH INC (ESE): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research
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