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International Money Express (IMXI) Surges 10.7%: Is This an Indication of Further Gains?
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International Money Express (IMXI - Free Report) shares soared 10.7% in the last trading session to close at $20.30. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 14.1% gain over the past four weeks.
The increased investor optimism on the stock can be attributed to the news that the company has agreed to acquire La Nacionaland LAN Holdings.
This company is expected to post quarterly earnings of $0.35 per share in its upcoming report, which represents a year-over-year change of +29.6%. Revenues are expected to be $114.25 million, up 20.8% 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 International Money Express, the consensus EPS estimate for the quarter has been revised 6.5% 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 IMXI going forward to see if this recent jump can turn into more strength down the road.
International Money Express is part of the Zacks Financial Transaction Services industry. Evertec (EVTC - Free Report) , another stock in the same industry, closed the last trading session 3.4% higher at $40.71. EVTC has returned -9.1% in the past month.
Evertec's consensus EPS estimate for the upcoming report has changed -8.2% over the past month to $0.62. Compared to the company's year-ago EPS, this represents no change. Evertec currently boasts a Zacks Rank of #4 (Sell).
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International Money Express (IMXI) Surges 10.7%: Is This an Indication of Further Gains?
International Money Express (IMXI - Free Report) shares soared 10.7% in the last trading session to close at $20.30. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 14.1% gain over the past four weeks.
The increased investor optimism on the stock can be attributed to the news that the company has agreed to acquire La Nacionaland LAN Holdings.
This company is expected to post quarterly earnings of $0.35 per share in its upcoming report, which represents a year-over-year change of +29.6%. Revenues are expected to be $114.25 million, up 20.8% 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 International Money Express, the consensus EPS estimate for the quarter has been revised 6.5% 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 IMXI 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 >>>>
International Money Express is part of the Zacks Financial Transaction Services industry. Evertec (EVTC - Free Report) , another stock in the same industry, closed the last trading session 3.4% higher at $40.71. EVTC has returned -9.1% in the past month.
Evertec's consensus EPS estimate for the upcoming report has changed -8.2% over the past month to $0.62. Compared to the company's year-ago EPS, this represents no change. Evertec currently boasts a Zacks Rank of #4 (Sell).