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The Beauty Health Company (SKIN) Stock Jumps 11.4%: Will It Continue to Soar?
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The Beauty Health Company (SKIN - Free Report) shares soared 11.4% in the last trading session to close at $11.58. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 4.5% loss over the past four weeks.
The Beauty Health Company recorded a strong price rise over investors’ optimism surrounding the company’s recent announcement of a $200 million share repurchase program. As per the company release, it has entered into an accelerated share repurchase agreement (ASR) with JPMorgan Chase Bank, to repurchase $100 million of common stock. On completion of the ASR, the company will have authorization to repurchase an additional $100 million of shares of its common stock.
This company is expected to post quarterly earnings of $0.02 per share in its upcoming report, which represents a year-over-year change of +100%. Revenues are expected to be $79.59 million, up 16.8% 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 The Beauty Health Company, 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 SKIN going forward to see if this recent jump can turn into more strength down the road.
The Beauty Health Company is a member of the Zacks Medical Services industry. One other stock in the same industry, Pediatrix Medical Group (MD - Free Report) , finished the last trading session 0.4% higher at $16.84. MD has returned -7.1% over the past month.
For Pediatrix Medical Group, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.53. This represents a change of +15.2% from what the company reported a year ago. Pediatrix Medical Group currently has a Zacks Rank of #3 (Hold).
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The Beauty Health Company (SKIN) Stock Jumps 11.4%: Will It Continue to Soar?
The Beauty Health Company (SKIN - Free Report) shares soared 11.4% in the last trading session to close at $11.58. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 4.5% loss over the past four weeks.
The Beauty Health Company recorded a strong price rise over investors’ optimism surrounding the company’s recent announcement of a $200 million share repurchase program. As per the company release, it has entered into an accelerated share repurchase agreement (ASR) with JPMorgan Chase Bank, to repurchase $100 million of common stock. On completion of the ASR, the company will have authorization to repurchase an additional $100 million of shares of its common stock.
This company is expected to post quarterly earnings of $0.02 per share in its upcoming report, which represents a year-over-year change of +100%. Revenues are expected to be $79.59 million, up 16.8% 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 The Beauty Health Company, 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 SKIN 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 >>>>
The Beauty Health Company is a member of the Zacks Medical Services industry. One other stock in the same industry, Pediatrix Medical Group (MD - Free Report) , finished the last trading session 0.4% higher at $16.84. MD has returned -7.1% over the past month.
For Pediatrix Medical Group, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.53. This represents a change of +15.2% from what the company reported a year ago. Pediatrix Medical Group currently has a Zacks Rank of #3 (Hold).