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Element Solutions (ESI) Surges 5.4%: Is This an Indication of Further Gains?
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Element Solutions (ESI - Free Report) shares soared 5.4% in the last trading session to close at $18.68. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 15.3% loss over the past four weeks.
Continued strength in the high-end electronics business and upbeat prospects stemming from strategic acquisitions seemed to have driven the stock higher. The company is benefiting from strong demand across many of its major end-markets, cost management measures and acquisitions. ESI is seeing strong demand in general industrial and energy markets. It is benefiting from strength in construction, general manufacturing and aerospace end markets, which is offsetting weakness in automotive.
This specialty chemical and printing products is expected to post quarterly earnings of $0.37 per share in its upcoming report, which represents a year-over-year change of +5.7%. Revenues are expected to be $676.41 million, up 15.3% 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 Element Solutions, 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 ESI going forward to see if this recent jump can turn into more strength down the road.
Element Solutions is a member of the Zacks Chemical - Specialty industry. One other stock in the same industry, Livent , finished the last trading session 3.9% higher at $24.25. LTHM has returned -22.8% over the past month.
For Livent, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.30. This represents a change of +650% from what the company reported a year ago. Livent currently has a Zacks Rank of #2 (Buy).
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Element Solutions (ESI) Surges 5.4%: Is This an Indication of Further Gains?
Element Solutions (ESI - Free Report) shares soared 5.4% in the last trading session to close at $18.68. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 15.3% loss over the past four weeks.
Continued strength in the high-end electronics business and upbeat prospects stemming from strategic acquisitions seemed to have driven the stock higher. The company is benefiting from strong demand across many of its major end-markets, cost management measures and acquisitions. ESI is seeing strong demand in general industrial and energy markets. It is benefiting from strength in construction, general manufacturing and aerospace end markets, which is offsetting weakness in automotive.
This specialty chemical and printing products is expected to post quarterly earnings of $0.37 per share in its upcoming report, which represents a year-over-year change of +5.7%. Revenues are expected to be $676.41 million, up 15.3% 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 Element Solutions, 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 ESI going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Element Solutions is a member of the Zacks Chemical - Specialty industry. One other stock in the same industry, Livent , finished the last trading session 3.9% higher at $24.25. LTHM has returned -22.8% over the past month.
For Livent, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.30. This represents a change of +650% from what the company reported a year ago. Livent currently has a Zacks Rank of #2 (Buy).