Array Technologies Falls as Traders Await Quarterly Results

Array Technologies shares fell 4.96% to $3.83 in Monday’s session. The decline was steeper than losses in the S&P 500, Dow and Nasdaq, which fell 0.77%, 0.67% and 0.92%, respectively.

Over the past month, the shares lost 12.2%, underperforming the Oils-Energy sector, which gained 1.13%, and the S&P 500, up 0.96%.

Investors are watching the company’s upcoming financial results. Zacks consensus forecasts earnings per share (EPS) of $0.11 and revenue of $320.87 million for the quarter. That would mark year-over-year declines of 63.33% and 18.46%, respectively.

For the full year, Zacks consensus estimates call for EPS of $0.74 and revenue of $1.43 billion. Those figures would be increases of 10.45% and 11.57%, respectively, from the prior year.

Zacks said its consensus EPS estimate for Array has fallen 0.48% over the past month. It put the stock’s forward price-to-earnings ratio at 5.47, compared with an industry average of 13.39.