Azure Energy (AZRE) got here out with a quarterly lack of $0.10 per share versus the Zacks Consensu
Azure Energy (AZRE) got here out with a quarterly lack of $0.10 per share versus the Zacks Consensus Estimate of a lack of $0.24. This compares to lack of $0.25 per share a yr in the past. These figures are adjusted for non-recurring objects.
This quarterly report represents an earnings shock of 58.33%. 1 / 4 in the past, it was anticipated that this solar energy producer would submit a lack of $0.23 per share when it really produced earnings of $0.07, delivering a shock of 130.43%.
During the last 4 quarters, the corporate has surpassed consensus EPS estimates 3 times.
Azure Energy, which belongs to the Zacks Photo voltaic business, posted revenues of $47.60 million for the quarter ended September 2020, surpassing the Zacks Consensus Estimate by 7.45%. This compares to year-ago revenues of $40.30 million. The corporate has topped consensus income estimates 3 times over the past 4 quarters.
The sustainability of the inventory’s speedy worth motion based mostly on the recently-released numbers and future earnings expectations will largely rely on administration’s commentary on the earnings name.
Azure Energy shares have added about 134.8% for the reason that starting of the yr versus the S&P 500’s acquire of 9.9%.
What’s Subsequent for Azure Energy?
Whereas Azure Energy has outperformed the market to this point this yr, the query that involves traders’ minds is: what’s subsequent for the inventory?
There aren’t any simple solutions to this key query, however one dependable measure that may assist traders deal with that is the corporate’s earnings outlook. Not solely does this embrace present consensus earnings expectations for the approaching quarter(s), but in addition how these expectations have modified recently.
Empirical analysis reveals a powerful correlation between near-term inventory actions and traits in earnings estimate revisions. Traders can monitor such revisions by themselves or depend on a tried-and-tested ranking instrument just like the Zacks Rank, which has a powerful monitor report of harnessing the facility of earnings estimate revisions.
Forward of this earnings launch, the estimate revisions development for Azure Energy was combined. Whereas the magnitude and path of estimate revisions might change following the corporate’s just-released earnings report, the present standing interprets right into a Zacks Rank #3 (Maintain) for the inventory. So, the shares are anticipated to carry out according to the market within the close to future. You may see the entire record of at present’s Zacks #1 Rank (Sturdy Purchase) shares right here.
Will probably be fascinating to see how estimates for the approaching quarters and present fiscal yr change within the days forward. The present consensus EPS estimate is -$0.18 on $46.90 million in revenues for the approaching quarter and -$0.37 on $199.80 million in revenues for the present fiscal yr.
Traders must be aware of the truth that the outlook for the business can have a fabric affect on the efficiency of the inventory as nicely. By way of the Zacks Business Rank, Photo voltaic is at present within the backside 25% of the 250 plus Zacks industries. Our analysis reveals that the highest 50% of the Zacks-ranked industries outperform the underside 50% by an element of greater than 2 to 1.
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Azure Energy World Ltd. (AZRE): Free Inventory Evaluation Report
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