Plug Power (PLUG) Expected to Post Quarterly Sales of $41.62 Million

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Wall Street brokerages expect that Plug Power (NASDAQ:PLUG) will announce sales of $41.62 million for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Plug Power’s earnings. The lowest sales estimate is $37.07 million and the highest is $49.60 million. Plug Power posted sales of $22.60 million during the same quarter last year, which suggests a positive year over year growth rate of 84.2%. The company is scheduled to announce its next quarterly earnings report on Tuesday, August 14th.

On average, analysts expect that Plug Power will report full year sales of $186.14 million for the current financial year, with estimates ranging from $166.30 million to $221.70 million. For the next year, analysts forecast that the business will post sales of $236.71 million per share, with estimates ranging from $206.30 million to $282.59 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Plug Power.

Plug Power (NASDAQ:PLUG) last announced its quarterly earnings data on Wednesday, May 9th. The electronics maker reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.01). The company had revenue of $27.20 million during the quarter, compared to analysts’ expectations of $23.22 million. Plug Power had a negative net margin of 85.89% and a negative return on equity of 87.73%. The business’s quarterly revenue was up 78.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.13) EPS.

PLUG has been the topic of several research analyst reports. Zacks Investment Research raised shares of Plug Power from a “hold” rating to a “buy” rating and set a $2.00 price target on the stock in a report on Wednesday, May 9th. B. Riley restated a “buy” rating on shares of Plug Power in a research report on Thursday, March 8th. HC Wainwright set a $4.00 target price on shares of Plug Power and gave the stock a “buy” rating in a research report on Thursday, March 8th. Canaccord Genuity set a $5.00 target price on shares of Plug Power and gave the stock a “buy” rating in a research report on Wednesday, March 7th. Finally, BidaskClub upgraded shares of Plug Power from a “sell” rating to a “hold” rating in a research report on Thursday, May 3rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $3.42.

Shares of Plug Power opened at $2.01 on Friday, according to MarketBeat.com. The stock has a market capitalization of $413.55 million, a PE ratio of -3.35 and a beta of 1.20. The company has a debt-to-equity ratio of 2.15, a current ratio of 1.28 and a quick ratio of 0.87. Plug Power has a 1 year low of $1.53 and a 1 year high of $3.21.

Large investors have recently made changes to their positions in the business. MetLife Investment Advisors LLC acquired a new stake in shares of Plug Power during the 4th quarter worth approximately $127,000. Teacher Retirement System of Texas boosted its position in shares of Plug Power by 315.6% during the 4th quarter. Teacher Retirement System of Texas now owns 75,409 shares of the electronics maker’s stock worth $178,000 after acquiring an additional 57,263 shares in the last quarter. Alliancebernstein L.P. boosted its position in shares of Plug Power by 30.1% during the 4th quarter. Alliancebernstein L.P. now owns 125,890 shares of the electronics maker’s stock worth $297,000 after acquiring an additional 29,100 shares in the last quarter. UBS Asset Management Americas Inc. boosted its position in shares of Plug Power by 157.5% during the 4th quarter. UBS Asset Management Americas Inc. now owns 131,108 shares of the electronics maker’s stock worth $309,000 after acquiring an additional 80,186 shares in the last quarter. Finally, LPL Financial LLC acquired a new stake in shares of Plug Power during the 1st quarter worth approximately $270,000. Hedge funds and other institutional investors own 29.49% of the company’s stock.

About Plug Power

Plug Power Inc, an alternative energy technology provider, engages in the design, development, commercialization, and manufacture of hydrogen and fuel cell systems for the material handling and stationary power markets primarily in North America and Europe. It focuses on proton exchange membrane (PEM) fuel cell and fuel processing technologies, fuel cell/battery hybrid technologies, and related hydrogen storage and dispensing infrastructure.

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

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