Zacks: Brokerages Anticipate Plug Power Inc (PLUG) Will Announce Quarterly Sales of $36.05 Million

Equities research analysts expect Plug Power Inc (NASDAQ:PLUG) to announce $36.05 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Plug Power’s earnings, with the highest sales estimate coming in at $44.2 million and the lowest estimate coming in at $27.21 million. Plug Power reported sales of $20.46 million during the same quarter last year, which indicates a positive year-over-year growth rate of 76.2%. The company is scheduled to announce its next earnings results on Thursday, August 3rd.

According to Zacks, analysts expect that Plug Power will report full year sales of $36.05 million for the current financial year. For the next fiscal year, analysts anticipate that the business will report sales of $231.28 million per share, with estimates ranging from $181.45 million to $275.44 million. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Plug Power.

Plug Power (NASDAQ:PLUG) last announced its quarterly earnings data on Tuesday, May 9th. The electronics maker reported ($0.13) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.07) by $0.06. Plug Power had a negative return on equity of 36.60% and a negative net margin of 69.28%. The firm had revenue of $15.20 million during the quarter, compared to the consensus estimate of $24.90 million. During the same quarter in the prior year, the business posted ($0.05) EPS. Plug Power’s revenue was down .7% compared to the same quarter last year.

PLUG has been the topic of several research reports. Zacks Investment Research downgraded Plug Power from a “hold” rating to a “sell” rating in a research report on Wednesday, January 18th. FBR & Co reaffirmed a “buy” rating on shares of Plug Power in a research report on Thursday, February 9th. Morgan Stanley decreased their target price on Plug Power from $3.00 to $1.50 and set an “equal weight” rating on the stock in a research report on Tuesday, February 28th. Cowen and Company reaffirmed an “outperform” rating and issued a $1.75 target price on shares of Plug Power in a research report on Saturday, March 11th. Finally, Rodman & Renshaw upped their target price on Plug Power from $3.00 to $4.00 and gave the company a “buy” rating in a research report on Thursday, April 6th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $2.71.

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Shares of Plug Power (NASDAQ:PLUG) opened at 2.09 on Wednesday. Plug Power has a 12 month low of $0.83 and a 12 month high of $2.70. The firm has a 50 day moving average price of $1.95 and a 200-day moving average price of $1.44. The company’s market cap is $399.58 million.

A number of large investors have recently modified their holdings of PLUG. Nationwide Fund Advisors increased its stake in shares of Plug Power by 4.6% in the first quarter. Nationwide Fund Advisors now owns 117,225 shares of the electronics maker’s stock worth $162,000 after buying an additional 5,127 shares in the last quarter. Teachers Advisors LLC increased its stake in shares of Plug Power by 1.8% in the fourth quarter. Teachers Advisors LLC now owns 385,028 shares of the electronics maker’s stock worth $462,000 after buying an additional 6,680 shares in the last quarter. Aperio Group LLC increased its stake in shares of Plug Power by 15.3% in the third quarter. Aperio Group LLC now owns 103,905 shares of the electronics maker’s stock worth $178,000 after buying an additional 13,765 shares in the last quarter. Private Advisor Group LLC increased its stake in shares of Plug Power by 160.9% in the first quarter. Private Advisor Group LLC now owns 51,318 shares of the electronics maker’s stock worth $115,000 after buying an additional 31,646 shares in the last quarter. Finally, IFC Holdings Incorporated FL increased its stake in shares of Plug Power by 33.5% in the first quarter. IFC Holdings Incorporated FL now owns 135,500 shares of the electronics maker’s stock worth $189,000 after buying an additional 34,000 shares in the last quarter. 17.83% of the stock is currently owned by institutional investors and hedge funds.

Plug Power Company Profile

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.

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