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Strength Seen in Elanco Animal Health Incorporated (ELAN): Can Its 6.2% Jump Turn into More Strength?
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Elanco Animal Health Incorporated (ELAN - Free Report) shares rallied 6.2% in the last trading session to close at $15.45. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 13.9% gain over the past four weeks.
Elanco Animal Health Incorporated recorded a strong price increase after it announced Lawrence E. Kurzius as its next Chairman of the Board, effective at the conclusion of the company's 2024 Annual Meeting of Shareholders. Following the 2024 Annual Meeting, the Board also plans to rotate committee leadership with Michael Harrington assuming the role of Chairman of the Corporate Governance Committee and Kirk McDonald serving as Chairman of the Compensation and Human Capital Committee. Per management, Mr. Kurzius’ global business expertise, brand building insights, a track record of value creation and significant corporate governance experience are likely to benefit Elanco Animal Health Incorporated.
This company is expected to post quarterly earnings of $0.11 per share in its upcoming report, which represents a year-over-year change of -42.1%. Revenues are expected to be $996.88 million, up 0.9% 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 Elanco Animal Health Incorporated, the consensus EPS estimate for the quarter has been revised 2.4% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on ELAN going forward to see if this recent jump can turn into more strength down the road.
Elanco Animal Health Incorporated is part of the Zacks Medical - Outpatient and Home Healthcare industry. RadNet (RDNT - Free Report) , another stock in the same industry, closed the last trading session 0.6% higher at $34.83. RDNT has returned -3.9% in the past month.
RadNet's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.11. Compared to the company's year-ago EPS, this represents no change. RadNet currently boasts a Zacks Rank of #3.
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Strength Seen in Elanco Animal Health Incorporated (ELAN): Can Its 6.2% Jump Turn into More Strength?
Elanco Animal Health Incorporated (ELAN - Free Report) shares rallied 6.2% in the last trading session to close at $15.45. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 13.9% gain over the past four weeks.
Elanco Animal Health Incorporated recorded a strong price increase after it announced Lawrence E. Kurzius as its next Chairman of the Board, effective at the conclusion of the company's 2024 Annual Meeting of Shareholders. Following the 2024 Annual Meeting, the Board also plans to rotate committee leadership with Michael Harrington assuming the role of Chairman of the Corporate Governance Committee and Kirk McDonald serving as Chairman of the Compensation and Human Capital Committee. Per management, Mr. Kurzius’ global business expertise, brand building insights, a track record of value creation and significant corporate governance experience are likely to benefit Elanco Animal Health Incorporated.
This company is expected to post quarterly earnings of $0.11 per share in its upcoming report, which represents a year-over-year change of -42.1%. Revenues are expected to be $996.88 million, up 0.9% 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 Elanco Animal Health Incorporated, the consensus EPS estimate for the quarter has been revised 2.4% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on ELAN going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Elanco Animal Health Incorporated is part of the Zacks Medical - Outpatient and Home Healthcare industry. RadNet (RDNT - Free Report) , another stock in the same industry, closed the last trading session 0.6% higher at $34.83. RDNT has returned -3.9% in the past month.
RadNet's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.11. Compared to the company's year-ago EPS, this represents no change. RadNet currently boasts a Zacks Rank of #3.