We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Strength Seen in Consumer Portfolio Services (CPSS): Can Its 9.4% Jump Turn into More Strength?
Read MoreHide Full Article
Consumer Portfolio Services (CPSS - Free Report) shares ended the last trading session 9.4% higher at $11.85. 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 35.5% gain over the past four weeks.
Consumer Portfolio Services stock has witnessed a rise in price for the fifth consecutive day. The stock touched a new 52-week high during last day’s trading session. Off late, investors have been bullish on the performance of finance stocks, which is expected to be robust in 2022. The prospects of a tighter monetary policy – faster pace of bond-purchase tapering that will position the Federal Reserve to raise interest rates (probably thrice) in 2022 – has possibly led to the optimistic investor sentiments, which has been driving Consumer Portfolio Services stock higher.
This auto lender is expected to post quarterly earnings of $0.20 per share in its upcoming report, which represents a year-over-year change of +17.7%. Revenues are expected to be $60.39 million, down 3.3% 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 Consumer Portfolio Services, 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 CPSS going forward to see if this recent jump can turn into more strength down the road.
Image: Bigstock
Strength Seen in Consumer Portfolio Services (CPSS): Can Its 9.4% Jump Turn into More Strength?
Consumer Portfolio Services (CPSS - Free Report) shares ended the last trading session 9.4% higher at $11.85. 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 35.5% gain over the past four weeks.
Consumer Portfolio Services stock has witnessed a rise in price for the fifth consecutive day. The stock touched a new 52-week high during last day’s trading session. Off late, investors have been bullish on the performance of finance stocks, which is expected to be robust in 2022. The prospects of a tighter monetary policy – faster pace of bond-purchase tapering that will position the Federal Reserve to raise interest rates (probably thrice) in 2022 – has possibly led to the optimistic investor sentiments, which has been driving Consumer Portfolio Services stock higher.
This auto lender is expected to post quarterly earnings of $0.20 per share in its upcoming report, which represents a year-over-year change of +17.7%. Revenues are expected to be $60.39 million, down 3.3% 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 Consumer Portfolio Services, 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 CPSS 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 >>>>