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LSB (LXU) Soars 8.8%: Is Further Upside Left in the Stock?
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LSB (LXU - Free Report) shares soared 8.8% in the last trading session to close at $19.67. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 68.3% gain over the past four weeks.
Shares of LXU popped after the company announced the upsize and pricing of $200 million private offering of 6.250% senior secured notes due 2028. The notes will bear an annual rate of interest of 6.250% and will mature on Oct 15, 2028. They will be issued at a price equal to 100% of their face value plus accrued interest from Oct 14, 2021 to the date of delivery. The offering size was raised from the earlier-announced offering size of $175 million total principal amount of Notes. The company plans to use the net proceeds from the offering to pursue strategic acquisition opportunities, finance organic growth and for general corporate purposes.
This chemical maker is expected to post quarterly earnings of $0.32 per share in its upcoming report, which represents a year-over-year change of +150.8%. Revenues are expected to be $169.3 million, up 72.5% 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 LSB, 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 LXU going forward to see if this recent jump can turn into more strength down the road.
LSB is a member of the Zacks Diversified Operations industry. One other stock in the same industry, General Electric (GE - Free Report) , finished the last trading session 1.8% lower at $92.45. GE has returned -4% over the past month.
For GE, the consensus EPS estimate for the upcoming report has changed -5.3% over the past month to $0.39. This represents a change of +62.5% from what the company reported a year ago. GE currently has a Zacks Rank of #4 (Sell).
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LSB (LXU) Soars 8.8%: Is Further Upside Left in the Stock?
LSB (LXU - Free Report) shares soared 8.8% in the last trading session to close at $19.67. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 68.3% gain over the past four weeks.
Shares of LXU popped after the company announced the upsize and pricing of $200 million private offering of 6.250% senior secured notes due 2028. The notes will bear an annual rate of interest of 6.250% and will mature on Oct 15, 2028. They will be issued at a price equal to 100% of their face value plus accrued interest from Oct 14, 2021 to the date of delivery. The offering size was raised from the earlier-announced offering size of $175 million total principal amount of Notes. The company plans to use the net proceeds from the offering to pursue strategic acquisition opportunities, finance organic growth and for general corporate purposes.
This chemical maker is expected to post quarterly earnings of $0.32 per share in its upcoming report, which represents a year-over-year change of +150.8%. Revenues are expected to be $169.3 million, up 72.5% 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 LSB, 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 LXU 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 >>>>
LSB is a member of the Zacks Diversified Operations industry. One other stock in the same industry, General Electric (GE - Free Report) , finished the last trading session 1.8% lower at $92.45. GE has returned -4% over the past month.
For GE, the consensus EPS estimate for the upcoming report has changed -5.3% over the past month to $0.39. This represents a change of +62.5% from what the company reported a year ago. GE currently has a Zacks Rank of #4 (Sell).