Q2 2022 EPS Estimates for Plug Power Inc. Lowered by KeyCorp (NASDAQ:PLUG)

Plug Power Inc. (NASDAQ:PLUGGet Rating) – Equities researchers at KeyCorp cut their Q2 2022 earnings per share (EPS) estimates for shares of Plug Power in a research note issued to investors on Monday, May 9th. KeyCorp analyst L. Mariani now forecasts that the electronics maker will post earnings of ($0.21) per share for the quarter, down from their previous forecast of ($0.14). KeyCorp also issued estimates for Plug Power’s Q3 2022 earnings at ($0.16) EPS, Q4 2022 earnings at ($0.13) EPS, Q1 2023 earnings at ($0.15) EPS, Q2 2023 earnings at ($0.14) EPS, Q3 2023 earnings at ($0.10) EPS and FY2023 earnings at ($0.47) EPS.

Plug Power (NASDAQ:PLUGGet Rating) last released its quarterly earnings data on Monday, May 9th. The electronics maker reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.11). The firm had revenue of $140.80 million for the quarter, compared to analysts’ expectations of $142.99 million. Plug Power had a negative return on equity of 11.78% and a negative net margin of 97.29%. Plug Power’s revenue for the quarter was up 95.7% on a year-over-year basis. During the same period last year, the firm posted ($0.12) earnings per share.

Other equities research analysts have also recently issued reports about the stock. Susquehanna reduced their price target on shares of Plug Power from $33.00 to $30.00 in a research report on Tuesday. Truist Financial reduced their price target on shares of Plug Power from $44.00 to $27.00 and set a “hold” rating for the company in a research report on Monday, January 24th. Morgan Stanley reduced their price target on shares of Plug Power from $65.00 to $60.00 and set an “overweight” rating for the company in a research report on Tuesday, March 22nd. Susquehanna Bancshares boosted their price target on shares of Plug Power from $26.00 to $30.00 and gave the company a “positive” rating in a research report on Wednesday, March 2nd. Finally, Royal Bank of Canada reduced their price target on shares of Plug Power from $39.00 to $33.00 and set an “outperform” rating for the company in a research report on Wednesday, March 2nd. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and nineteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $36.26.

Shares of NASDAQ:PLUG opened at $15.03 on Thursday. Plug Power has a 12 month low of $12.70 and a 12 month high of $46.50. The firm has a market capitalization of $8.69 billion, a P/E ratio of -15.49 and a beta of 1.72. The company has a debt-to-equity ratio of 0.12, a current ratio of 11.44 and a quick ratio of 9.94. The company’s fifty day moving average price is $24.42 and its 200 day moving average price is $27.88.

Institutional investors and hedge funds have recently modified their holdings of the business. Banco Bilbao Vizcaya Argentaria S.A. grew its position in Plug Power by 522.6% during the third quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 172,187 shares of the electronics maker’s stock worth $4,371,000 after buying an additional 144,533 shares during the period. Guggenheim Capital LLC acquired a new position in Plug Power during the third quarter worth about $1,200,000. Crossmark Global Holdings Inc. acquired a new position in Plug Power during the fourth quarter worth about $372,000. KBC Group NV grew its position in Plug Power by 53.3% during the third quarter. KBC Group NV now owns 229,855 shares of the electronics maker’s stock worth $5,870,000 after buying an additional 79,943 shares during the period. Finally, SCP Investment LP acquired a new position in Plug Power during the third quarter worth about $266,000. Institutional investors own 52.07% of the company’s stock.

Plug Power Company Profile (Get Rating)

Plug Power Inc provides hydrogen fuel cell turnkey solutions for the mobility, material handling, and stationary power markets in North America and internationally. It focuses on proton exchange membrane (PEM) fuel cell and fuel processing technologies, and fuel cell/battery hybrid technologies, as well as related hydrogen and green hydrogen generation, storage, and dispensing infrastructure.

Further Reading

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

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