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Chart Industries (GTLS) Moves 8.1% Higher: Will This Strength Last?
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Chart Industries, Inc. (GTLS - Free Report) shares ended the last trading session 8.1% higher at $119.52. 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 18.9% loss over the past four weeks.
Chart Industries’ rally is primarily driven by optimism over its strong momentum in the hydrogen, LNG, water treatment, traditional energy and clean mining end markets. Strong orders for products and services, along with the acquisition of Howden, bode well for the company.
This equipment maker for the energy sector is expected to post quarterly earnings of $2.13 per share in its upcoming report, which represents a year-over-year change of +27.5%. Revenues are expected to be $1.09 billion, up 147.7% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Chart Industries, the consensus EPS estimate for the quarter has been revised 5.4% 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 GTLS going forward to see if this recent jump can turn into more strength down the road.
Chart Industries belongs to the Zacks Manufacturing - General Industrial industry. Another stock from the same industry, Xylem (XYL - Free Report) , closed the last trading session 0.9% higher at $113.36. Over the past month, XYL has returned -1.7%.
For Xylem, the consensus EPS estimate for the upcoming report has changed -0.9% over the past month to $0.96. This represents a change of +4.4% from what the company reported a year ago. Xylem currently has a Zacks Rank of #3 (Hold).
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Chart Industries (GTLS) Moves 8.1% Higher: Will This Strength Last?
Chart Industries, Inc. (GTLS - Free Report) shares ended the last trading session 8.1% higher at $119.52. 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 18.9% loss over the past four weeks.
Chart Industries’ rally is primarily driven by optimism over its strong momentum in the hydrogen, LNG, water treatment, traditional energy and clean mining end markets. Strong orders for products and services, along with the acquisition of Howden, bode well for the company.
This equipment maker for the energy sector is expected to post quarterly earnings of $2.13 per share in its upcoming report, which represents a year-over-year change of +27.5%. Revenues are expected to be $1.09 billion, up 147.7% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Chart Industries, the consensus EPS estimate for the quarter has been revised 5.4% 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 GTLS 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 >>>>
Chart Industries belongs to the Zacks Manufacturing - General Industrial industry. Another stock from the same industry, Xylem (XYL - Free Report) , closed the last trading session 0.9% higher at $113.36. Over the past month, XYL has returned -1.7%.
For Xylem, the consensus EPS estimate for the upcoming report has changed -0.9% over the past month to $0.96. This represents a change of +4.4% from what the company reported a year ago. Xylem currently has a Zacks Rank of #3 (Hold).