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Albertsons Companies, Inc. (ACI) - free report >>
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Albertsons Companies, Inc. (ACI) - free report >>
Ollie's Bargain Outlet Holdings, Inc. (OLLI) - free report >>
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Albertsons Companies, Inc. (ACI) Surges 7.7%: Is This an Indication of Further Gains?
Albertsons Companies, Inc. (ACI - Free Report) shares soared 7.7% in the last trading session to close at $31.40. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 3.6% gain over the past four weeks.
Shares of Albertsons Companies have gained following the company’s announcement that it has commenced a board-led review of potential strategic alternatives. This is aimed at enhancing Albertsons’ growth and stakeholder value. The company’s focus on providing efficient in-store services, enhancing digital and omni-channel capabilities, and increasing productivity bode well.
This company is expected to post quarterly earnings of $0.60 per share in its upcoming report, which represents no change from the year-ago quarter. Revenues are expected to be $16.47 billion, up 4.4% 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 Albertsons Companies, Inc., 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 ACI going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Albertsons Companies, Inc. is a member of the Zacks Consumer Products - Staples industry. One other stock in the same industry, Ollie's Bargain Outlet (OLLI - Free Report) , finished the last trading session 0.6% higher at $43.43. OLLI has returned -9.9% over the past month.
Ollie's Bargain Outlet's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.68. Compared to the company's year-ago EPS, this represents a change of -29.9%. Ollie's Bargain Outlet currently boasts a Zacks Rank of #4 (Sell).