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DigitalBridge (DBRG) Soars 8.7%: Is Further Upside Left in the Stock?
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DigitalBridge (DBRG - Free Report) shares rallied 8.7% in the last trading session to close at $5.15. 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 21% loss over the past four weeks.
This increased optimism stems from the recent announcement of recapitalizing its portfolio firm Databank, an edge data center platform. Upon completion of the initial stage wherein Swiss Life and EDF will acquire 27% stake in DataBank for roughly $1.2 billion in cash from existing investors, DigitalBridge’s stake will be reduced to 15.5%. Further, it will be receiving cash proceeds of $230 million, which implies a pre-transaction net value of $906 million.
This provider of asset management services to NorthStar Realty Finance Corp. Is expected to post quarterly earnings of $0.01 per share in its upcoming report, which represents a year-over-year change of +150%. Revenues are expected to be $286.2 million, up 20.7% 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 DigitalBridge, 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 DBRG going forward to see if this recent jump can turn into more strength down the road.
DigitalBridge belongs to the Zacks REIT and Equity Trust industry. Another stock from the same industry, Broadmark Realty , closed the last trading session 1.8% higher at $6.80. Over the past month, BRMK has returned -8.7%.
Broadmark Realty's consensus EPS estimate for the upcoming report has changed -18.7% over the past month to $0.17. Compared to the company's year-ago EPS, this represents a change of -5.6%. Broadmark Realty currently boasts a Zacks Rank of #4 (Sell).
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DigitalBridge (DBRG) Soars 8.7%: Is Further Upside Left in the Stock?
DigitalBridge (DBRG - Free Report) shares rallied 8.7% in the last trading session to close at $5.15. 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 21% loss over the past four weeks.
This increased optimism stems from the recent announcement of recapitalizing its portfolio firm Databank, an edge data center platform. Upon completion of the initial stage wherein Swiss Life and EDF will acquire 27% stake in DataBank for roughly $1.2 billion in cash from existing investors, DigitalBridge’s stake will be reduced to 15.5%. Further, it will be receiving cash proceeds of $230 million, which implies a pre-transaction net value of $906 million.
This provider of asset management services to NorthStar Realty Finance Corp. Is expected to post quarterly earnings of $0.01 per share in its upcoming report, which represents a year-over-year change of +150%. Revenues are expected to be $286.2 million, up 20.7% 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 DigitalBridge, 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 DBRG 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 >>>>
DigitalBridge belongs to the Zacks REIT and Equity Trust industry. Another stock from the same industry, Broadmark Realty , closed the last trading session 1.8% higher at $6.80. Over the past month, BRMK has returned -8.7%.
Broadmark Realty's consensus EPS estimate for the upcoming report has changed -18.7% over the past month to $0.17. Compared to the company's year-ago EPS, this represents a change of -5.6%. Broadmark Realty currently boasts a Zacks Rank of #4 (Sell).