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Strength Seen in JELD-WEN (JELD): Can Its 11.5% Jump Turn into More Strength?
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JELD-WEN (JELD - Free Report) shares soared 11.5% in the last trading session to close at $20.97. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 8.7% loss over the past four weeks.
Jeld-Wen's rally is buoyed by optimism regarding the company’s ongoing productivity actions and cost savings efforts. Also, its focus on streamlining its business through initiatives like, transformation journey and divestiture bodes well. Recently, the company announced the closure of its Vista, California, and Hawkins, Wisconsin, manufacturing facilities as part of its efforts to simplify its North America windows operations and strengthen its foundation for long-term, profitable growth.
This company is expected to post quarterly earnings of $0.20 per share in its upcoming report, which represents a year-over-year change of -42.9%. Revenues are expected to be $972.62 million, down 20.5% 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 JELD-WEN, the consensus EPS estimate for the quarter has been revised 6.1% 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 JELD going forward to see if this recent jump can turn into more strength down the road.
JELD-WEN belongs to the Zacks Building Products - Wood industry. Another stock from the same industry, Louisiana-Pacific (LPX - Free Report) , closed the last trading session 0.5% lower at $74.82. Over the past month, LPX has returned -10.1%.
For Louisiana-Pacific, the consensus EPS estimate for the upcoming report has changed +38.8% over the past month to $1.13. This represents a change of +232.4% from what the company reported a year ago. Louisiana-Pacific currently has a Zacks Rank of #1 (Strong Buy).
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Strength Seen in JELD-WEN (JELD): Can Its 11.5% Jump Turn into More Strength?
JELD-WEN (JELD - Free Report) shares soared 11.5% in the last trading session to close at $20.97. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 8.7% loss over the past four weeks.
Jeld-Wen's rally is buoyed by optimism regarding the company’s ongoing productivity actions and cost savings efforts. Also, its focus on streamlining its business through initiatives like, transformation journey and divestiture bodes well. Recently, the company announced the closure of its Vista, California, and Hawkins, Wisconsin, manufacturing facilities as part of its efforts to simplify its North America windows operations and strengthen its foundation for long-term, profitable growth.
This company is expected to post quarterly earnings of $0.20 per share in its upcoming report, which represents a year-over-year change of -42.9%. Revenues are expected to be $972.62 million, down 20.5% 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 JELD-WEN, the consensus EPS estimate for the quarter has been revised 6.1% 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 JELD 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 >>>>
JELD-WEN belongs to the Zacks Building Products - Wood industry. Another stock from the same industry, Louisiana-Pacific (LPX - Free Report) , closed the last trading session 0.5% lower at $74.82. Over the past month, LPX has returned -10.1%.
For Louisiana-Pacific, the consensus EPS estimate for the upcoming report has changed +38.8% over the past month to $1.13. This represents a change of +232.4% from what the company reported a year ago. Louisiana-Pacific currently has a Zacks Rank of #1 (Strong Buy).