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Siemens AG (SIEGY) Soars 7.1%: Is Further Upside Left in the Stock?
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Siemens AG (SIEGY - Free Report) shares ended the last trading session 7.1% higher at $75.62. 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 13.3% loss over the past four weeks.
Siemens’ shares have surged on the news that Siemens Mobility has signed a leasing contract with rail operator Bayerische Regiobahn for the innovative prototype of the first hydrogen-powered train in Bavaria. The contract is a follow-up to the letter of intent signed by all the participants in July 2021. Pilot tests will commence from mid-2023 on Bayerische Regiobahn routes. Pilot operations in the rail network of Bayerische Regiobahn are initially planned for 30 months. The train is expected to officially enter passenger service as of January 2024.
Siemens Mobility has been working on trains that use hydrogen to decarbonize rail transport.
This company is expected to post quarterly earnings of $1.24 per share in its upcoming report, which represents a year-over-year change of +20.4%. Revenues are expected to be $19.09 billion, up 8% 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 Siemens AG, the consensus EPS estimate for the quarter has been revised 4.6% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on SIEGY going forward to see if this recent jump can turn into more strength down the road.
Siemens AG is part of the Zacks Industrial Services industry. Global Industrial (GIC - Free Report) , another stock in the same industry, closed the last trading session 1.3% higher at $31.87. GIC has returned -6.1% in the past month.
For Global Industrial, the consensus EPS estimate for the upcoming report has changed -2.9% over the past month to $0.33. This represents a change of +135.7% from what the company reported a year ago. Global Industrial currently has a Zacks Rank of #3 (Hold).
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Siemens AG (SIEGY) Soars 7.1%: Is Further Upside Left in the Stock?
Siemens AG (SIEGY - Free Report) shares ended the last trading session 7.1% higher at $75.62. 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 13.3% loss over the past four weeks.
Siemens’ shares have surged on the news that Siemens Mobility has signed a leasing contract with rail operator Bayerische Regiobahn for the innovative prototype of the first hydrogen-powered train in Bavaria. The contract is a follow-up to the letter of intent signed by all the participants in July 2021. Pilot tests will commence from mid-2023 on Bayerische Regiobahn routes. Pilot operations in the rail network of Bayerische Regiobahn are initially planned for 30 months. The train is expected to officially enter passenger service as of January 2024.
Siemens Mobility has been working on trains that use hydrogen to decarbonize rail transport.
This company is expected to post quarterly earnings of $1.24 per share in its upcoming report, which represents a year-over-year change of +20.4%. Revenues are expected to be $19.09 billion, up 8% 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 Siemens AG, the consensus EPS estimate for the quarter has been revised 4.6% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on SIEGY 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 >>>>
Siemens AG is part of the Zacks Industrial Services industry. Global Industrial (GIC - Free Report) , another stock in the same industry, closed the last trading session 1.3% higher at $31.87. GIC has returned -6.1% in the past month.
For Global Industrial, the consensus EPS estimate for the upcoming report has changed -2.9% over the past month to $0.33. This represents a change of +135.7% from what the company reported a year ago. Global Industrial currently has a Zacks Rank of #3 (Hold).