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FAT Brands Inc. (FAT) Surges 7.5%: Is This an Indication of Further Gains?
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FAT Brands Inc. (FAT - Free Report) shares soared 7.5% in the last trading session to close at $8.29. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 7.3% gain over the past four weeks.
Expansion efforts, robust same-store sales and organic growth have been boosting investors’ confidence.
This company is expected to post quarterly loss of $0.88 per share in its upcoming report, which represents a year-over-year change of -877.8%. Revenues are expected to be $102 million, up 1131.9% 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 FAT Brands Inc., 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 FAT going forward to see if this recent jump can turn into more strength down the road.
FAT Brands Inc. is part of the Zacks Retail - Restaurants industry. Starbucks (SBUX - Free Report) , another stock in the same industry, closed the last trading session 0.9% higher at $83.27. SBUX has returned 13.1% in the past month.
For Starbucks, the consensus EPS estimate for the upcoming report has changed -3.1% over the past month to $0.77. This represents a change of -23.8% from what the company reported a year ago. Starbucks currently has a Zacks Rank of #3 (Hold).
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FAT Brands Inc. (FAT) Surges 7.5%: Is This an Indication of Further Gains?
FAT Brands Inc. (FAT - Free Report) shares soared 7.5% in the last trading session to close at $8.29. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 7.3% gain over the past four weeks.
Expansion efforts, robust same-store sales and organic growth have been boosting investors’ confidence.
This company is expected to post quarterly loss of $0.88 per share in its upcoming report, which represents a year-over-year change of -877.8%. Revenues are expected to be $102 million, up 1131.9% 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 FAT Brands Inc., 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 FAT 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 >>>>
FAT Brands Inc. is part of the Zacks Retail - Restaurants industry. Starbucks (SBUX - Free Report) , another stock in the same industry, closed the last trading session 0.9% higher at $83.27. SBUX has returned 13.1% in the past month.
For Starbucks, the consensus EPS estimate for the upcoming report has changed -3.1% over the past month to $0.77. This represents a change of -23.8% from what the company reported a year ago. Starbucks currently has a Zacks Rank of #3 (Hold).