Astronics Corporation (ATRO - Free Report) shares ended the last trading session 18.7% higher at $22.01. 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 3.8% gain over the past four weeks.
The latest uptick in Astronics’ share performance can be attributed to its recently released preliminary results for second quarter of 2023, wherein ATRO has predicted its quarterly revenue to be in the range of $170-$175 million. This revenue range lies at the upper end of its previously announced Q2 guidance range of $165-$175 million.
This company is expected to post quarterly loss of $0.03 per share in its upcoming report, which represents a year-over-year change of +91.2%. Revenues are expected to be $166.66 million, up 29.1% 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 Astronics Corporation, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on ATRO 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 >>>>
Astronics Corporation is a member of the Zacks Aerospace - Defense Equipment industry. One other stock in the same industry, Moog (MOG.A - Free Report) , finished the last trading session 0.8% higher at $113.25. MOG.A has returned 4.9% over the past month.
Moog's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1.48. Compared to the company's year-ago EPS, this represents a change of -8.1%. Moog currently boasts a Zacks Rank of #3 (Hold).
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Astronics Corporation (ATRO - Free Report) shares ended the last trading session 18.7% higher at $22.01. 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 3.8% gain over the past four weeks.
The latest uptick in Astronics’ share performance can be attributed to its recently released preliminary results for second quarter of 2023, wherein ATRO has predicted its quarterly revenue to be in the range of $170-$175 million. This revenue range lies at the upper end of its previously announced Q2 guidance range of $165-$175 million.
This company is expected to post quarterly loss of $0.03 per share in its upcoming report, which represents a year-over-year change of +91.2%. Revenues are expected to be $166.66 million, up 29.1% 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 Astronics Corporation, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on ATRO 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 >>>>
Astronics Corporation is a member of the Zacks Aerospace - Defense Equipment industry. One other stock in the same industry, Moog (MOG.A - Free Report) , finished the last trading session 0.8% higher at $113.25. MOG.A has returned 4.9% over the past month.
Moog's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1.48. Compared to the company's year-ago EPS, this represents a change of -8.1%. Moog currently boasts a Zacks Rank of #3 (Hold).
Top 5 ChatGPT Stocks Revealed
Zacks Senior Stock Strategist, Kevin Cook names 5 hand-picked stocks with sky-high growth potential in a brilliant sector of Artificial Intelligence. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
Today you can invest in the wave of the future, an automation that answers follow-up questions … admits mistakes … challenges incorrect premises … rejects inappropriate requests. As one of the selected companies puts it, “Automation frees people from the mundane so they can accomplish the miraculous.”
Download Free ChatGPT Stock Report Right Now >>
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