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Envela Corporation (ELA) Stock Jumps 5.2%: Will It Continue to Soar?
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Envela Corporation (ELA - Free Report) shares rallied 5.2% in the last trading session to close at $7.63. 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 8.1% gain over the past four weeks.
Envela’s focus on recommerce operations, acceleration of new store openings, and exposure to both B2C and B2B segments enables it to gain market share. In spite of a tough operating environment, the company’s first-quarter revenues and bottom-line numbers surpassed management’s expectations. This speaks volume about the company’s ability to sustain long term growth. Envela operates via two recommerce business segments, DGSE and ECHG.
This company is expected to post quarterly earnings of $0.09 per share in its upcoming report, which represents a year-over-year change of +12.5%. Revenues are expected to be $38.2 million, up 13.3% 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 Envela Corporation, 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 ELA going forward to see if this recent jump can turn into more strength down the road.
Envela Corporation is a member of the Zacks Retail - Jewelry industry. One other stock in the same industry, Signet (SIG - Free Report) , finished the last trading session 2.5% lower at $54.27. SIG has returned -9.7% over the past month.
Signet's consensus EPS estimate for the upcoming report has changed -7.1% over the past month to $2.62. Compared to the company's year-ago EPS, this represents a change of -26.6%. Signet currently boasts a Zacks Rank of #1 (Strong Buy).
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Envela Corporation (ELA) Stock Jumps 5.2%: Will It Continue to Soar?
Envela Corporation (ELA - Free Report) shares rallied 5.2% in the last trading session to close at $7.63. 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 8.1% gain over the past four weeks.
Envela’s focus on recommerce operations, acceleration of new store openings, and exposure to both B2C and B2B segments enables it to gain market share. In spite of a tough operating environment, the company’s first-quarter revenues and bottom-line numbers surpassed management’s expectations. This speaks volume about the company’s ability to sustain long term growth. Envela operates via two recommerce business segments, DGSE and ECHG.
This company is expected to post quarterly earnings of $0.09 per share in its upcoming report, which represents a year-over-year change of +12.5%. Revenues are expected to be $38.2 million, up 13.3% 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 Envela Corporation, 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 ELA 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 >>>>
Envela Corporation is a member of the Zacks Retail - Jewelry industry. One other stock in the same industry, Signet (SIG - Free Report) , finished the last trading session 2.5% lower at $54.27. SIG has returned -9.7% over the past month.
Signet's consensus EPS estimate for the upcoming report has changed -7.1% over the past month to $2.62. Compared to the company's year-ago EPS, this represents a change of -26.6%. Signet currently boasts a Zacks Rank of #1 (Strong Buy).