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Strength Seen in Subsea 7 SA (SUBCY): Can Its 6.2% Jump Turn into More Strength?
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Subsea 7 SA (SUBCY - Free Report) shares ended the last trading session 6.2% higher at $10.83. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 15.8% gain over the past four weeks.
Subsea 7’s shares rallied on the last trading day. The bullishness could be attributed to the sustained high oil and gas prices, which is encouraging customers to increase drilling activities. This is expected to have driven the demand for the company’s oilfield services as it is a global leader in the delivery of offshore projects and services for the energy industry. Subsea 7 is well-positioned to capitalize on the improving oilfield service demand and generate strong free cash flows going forward.
This company is expected to post quarterly loss of $0.05 per share in its upcoming report, which represents a year-over-year change of -133.3%. Revenues are expected to be $1.4 billion, down 3.8% 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 Subsea 7 SA, 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 SUBCY going forward to see if this recent jump can turn into more strength down the road.
Subsea 7 SA is part of the Zacks Oil and Gas - Field Services industry. Smart Sand (SND - Free Report) , another stock in the same industry, closed the last trading session 3.8% higher at $2.48. SND has returned 38.2% in the past month.
Smart Sand's consensus EPS estimate for the upcoming report has changed +108.3% over the past month to $0.04. Compared to the company's year-ago EPS, this represents a change of +123.5%. Smart Sand currently boasts a Zacks Rank of #3 (Hold).
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Strength Seen in Subsea 7 SA (SUBCY): Can Its 6.2% Jump Turn into More Strength?
Subsea 7 SA (SUBCY - Free Report) shares ended the last trading session 6.2% higher at $10.83. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 15.8% gain over the past four weeks.
Subsea 7’s shares rallied on the last trading day. The bullishness could be attributed to the sustained high oil and gas prices, which is encouraging customers to increase drilling activities. This is expected to have driven the demand for the company’s oilfield services as it is a global leader in the delivery of offshore projects and services for the energy industry. Subsea 7 is well-positioned to capitalize on the improving oilfield service demand and generate strong free cash flows going forward.
This company is expected to post quarterly loss of $0.05 per share in its upcoming report, which represents a year-over-year change of -133.3%. Revenues are expected to be $1.4 billion, down 3.8% 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 Subsea 7 SA, 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 SUBCY 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 >>>>
Subsea 7 SA is part of the Zacks Oil and Gas - Field Services industry. Smart Sand (SND - Free Report) , another stock in the same industry, closed the last trading session 3.8% higher at $2.48. SND has returned 38.2% in the past month.
Smart Sand's consensus EPS estimate for the upcoming report has changed +108.3% over the past month to $0.04. Compared to the company's year-ago EPS, this represents a change of +123.5%. Smart Sand currently boasts a Zacks Rank of #3 (Hold).