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Similar to wise buying decisions, exiting certain underperformers at the right time helps maximize portfolio returns. Selling off losers can be difficult, but if both the share price and estimates are falling, it could be time to get rid of the security before more losses hit your portfolio.
One such stock that you may want to consider dropping is Knowles Corporation (KN - Free Report) , which has witnessed a significant price decline in the past four weeks, and it has seen negative earnings estimate revisions for the current quarter and the current year. A Zacks Rank #4 (Sell) further confirms weakness in KN.
A key reason for this move has been the negative trend in earnings estimate revisions. For the full year, we have seen 2 estimates moving down in the past 30 days, compared with no upward revisions. This trend has caused the consensus estimate to trend lower, going from 74 cents a share a month ago to its current level of 68 cents.
Also, for the current quarter, Knowles has seen 2 downward estimate revisions versus no revisions in the opposite direction, dragging the consensus estimate down to 4 cents a share from 7 cents over the past 30 days.
The stock also has seen some pretty dismal trading lately, as the share price has dropped 9.7% in the past month.
So, it may not be a good decision to keep this stock in your portfolio anymore, at least if you don’t have a long-time horizon to wait.
If you are still interested in the Communication - Components industry, you may instead consider a better-ranked stock - ShoreTel, Inc. . The stock currently holds a Zacks Rank #1 (Strong Buy) and may be a better selection at this time. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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Why Knowles (KN) Could Be Positioned for a Slump
Similar to wise buying decisions, exiting certain underperformers at the right time helps maximize portfolio returns. Selling off losers can be difficult, but if both the share price and estimates are falling, it could be time to get rid of the security before more losses hit your portfolio.
One such stock that you may want to consider dropping is Knowles Corporation (KN - Free Report) , which has witnessed a significant price decline in the past four weeks, and it has seen negative earnings estimate revisions for the current quarter and the current year. A Zacks Rank #4 (Sell) further confirms weakness in KN.
A key reason for this move has been the negative trend in earnings estimate revisions. For the full year, we have seen 2 estimates moving down in the past 30 days, compared with no upward revisions. This trend has caused the consensus estimate to trend lower, going from 74 cents a share a month ago to its current level of 68 cents.
Also, for the current quarter, Knowles has seen 2 downward estimate revisions versus no revisions in the opposite direction, dragging the consensus estimate down to 4 cents a share from 7 cents over the past 30 days.
The stock also has seen some pretty dismal trading lately, as the share price has dropped 9.7% in the past month.
Knowles Corporation Price and Consensus
Knowles Corporation Price and Consensus | Knowles Corporation Quote
So, it may not be a good decision to keep this stock in your portfolio anymore, at least if you don’t have a long-time horizon to wait.
If you are still interested in the Communication - Components industry, you may instead consider a better-ranked stock - ShoreTel, Inc. . The stock currently holds a Zacks Rank #1 (Strong Buy) and may be a better selection at this time. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look. See the pot trades we're targeting>>