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Albertsons Companies, Inc. (ACI) Moves 11.5% Higher: Will This Strength Last?
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Albertsons Companies, Inc. (ACI - Free Report) shares ended the last trading session 11.5% higher at $28.63. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 10.3% loss over the past four weeks.
Shares of Albertsons Companies gained following the media news that Kroger is willing to acquire the food and drug retailer. If all goes well, the deal would help companies to firm position in the already competitive grocery space. Combined entity would benefit from a loyal customer base, digital investments and increased purchasing power.
This company is expected to post quarterly earnings of $0.63 per share in its upcoming report, which represents a year-over-year change of -1.6%. Revenues are expected to be $17.64 billion, up 6.9% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Albertsons Companies, Inc., the consensus EPS estimate for the quarter has been revised 0.6% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on ACI going forward to see if this recent jump can turn into more strength down the road.
Albertsons Companies, Inc. is a member of the Zacks Consumer Products - Staples industry. One other stock in the same industry, Krispy Kreme (DNUT - Free Report) , finished the last trading session 1.8% higher at $12.99. DNUT has returned 5.2% over the past month.
Krispy Kreme's consensus EPS estimate for the upcoming report has changed -5.2% over the past month to $0.05. Compared to the company's year-ago EPS, this represents a change of -16.7%. Krispy Kreme currently boasts a Zacks Rank of #4 (Sell).
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Albertsons Companies, Inc. (ACI) Moves 11.5% Higher: Will This Strength Last?
Albertsons Companies, Inc. (ACI - Free Report) shares ended the last trading session 11.5% higher at $28.63. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 10.3% loss over the past four weeks.
Shares of Albertsons Companies gained following the media news that Kroger is willing to acquire the food and drug retailer. If all goes well, the deal would help companies to firm position in the already competitive grocery space. Combined entity would benefit from a loyal customer base, digital investments and increased purchasing power.
This company is expected to post quarterly earnings of $0.63 per share in its upcoming report, which represents a year-over-year change of -1.6%. Revenues are expected to be $17.64 billion, up 6.9% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Albertsons Companies, Inc., the consensus EPS estimate for the quarter has been revised 0.6% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on ACI going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Albertsons Companies, Inc. is a member of the Zacks Consumer Products - Staples industry. One other stock in the same industry, Krispy Kreme (DNUT - Free Report) , finished the last trading session 1.8% higher at $12.99. DNUT has returned 5.2% over the past month.
Krispy Kreme's consensus EPS estimate for the upcoming report has changed -5.2% over the past month to $0.05. Compared to the company's year-ago EPS, this represents a change of -16.7%. Krispy Kreme currently boasts a Zacks Rank of #4 (Sell).