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Enviva (EVA) Soars 5.1%: Is Further Upside Left in the Stock?
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Enviva (EVA - Free Report) shares rallied 5.1% in the last trading session to close at $75.06. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 0.4% loss over the past four weeks.
Enviva announced new customer agreements, which show that EVA has significant growth opportunity to assist the power generators around the world in the energy transition and also help industrial leaders to trim emission through usage of renewable raw material inputs supplied by the company. Enviva’s strong current customer sales pipeline will support the addition of its six new fully contracted wood pellet production plants and several highly accretive expansion projects.
Enviva is expecting significant growth for 2022 as compared to 2021 and based on the visibility and durability of its long-term contracted cash flows, Enviva is planning to increase full-year 2022 dividends by 10% as compared to 2021, subject to approval of its board of directors.
This master limited partnership is expected to post quarterly loss of $0.22 per share in its upcoming report, which represents a year-over-year change of -540%. Revenues are expected to be $316.41 million, up 14.1% 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 Enviva, the consensus EPS estimate for the quarter has been revised 600% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on EVA going forward to see if this recent jump can turn into more strength down the road.
Enviva is a member of the Zacks Building Products - Wood industry. One other stock in the same industry, JELD-WEN (JELD - Free Report) , finished the last trading session 1.2% higher at $23.38. JELD has returned -3.2% over the past month.
JELD-WEN's consensus EPS estimate for the upcoming report has changed -11.1% over the past month to $0.33. Compared to the company's year-ago EPS, this represents a change of +22.2%. JELD-WEN currently boasts a Zacks Rank of #3 (Hold).
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Enviva (EVA) Soars 5.1%: Is Further Upside Left in the Stock?
Enviva (EVA - Free Report) shares rallied 5.1% in the last trading session to close at $75.06. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 0.4% loss over the past four weeks.
Enviva announced new customer agreements, which show that EVA has significant growth opportunity to assist the power generators around the world in the energy transition and also help industrial leaders to trim emission through usage of renewable raw material inputs supplied by the company. Enviva’s strong current customer sales pipeline will support the addition of its six new fully contracted wood pellet production plants and several highly accretive expansion projects.
Enviva is expecting significant growth for 2022 as compared to 2021 and based on the visibility and durability of its long-term contracted cash flows, Enviva is planning to increase full-year 2022 dividends by 10% as compared to 2021, subject to approval of its board of directors.
This master limited partnership is expected to post quarterly loss of $0.22 per share in its upcoming report, which represents a year-over-year change of -540%. Revenues are expected to be $316.41 million, up 14.1% 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 Enviva, the consensus EPS estimate for the quarter has been revised 600% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on EVA 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 >>>>
Enviva is a member of the Zacks Building Products - Wood industry. One other stock in the same industry, JELD-WEN (JELD - Free Report) , finished the last trading session 1.2% higher at $23.38. JELD has returned -3.2% over the past month.
JELD-WEN's consensus EPS estimate for the upcoming report has changed -11.1% over the past month to $0.33. Compared to the company's year-ago EPS, this represents a change of +22.2%. JELD-WEN currently boasts a Zacks Rank of #3 (Hold).