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Kohl's (KSS) Surges 7.3%: Is This an Indication of Further Gains?
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Kohl's (KSS - Free Report) shares soared 7.3% in the last trading session to close at $28.82. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 0.4% loss over the past four weeks.
Shares of Kohl's rallied following news related to its Chief Executive Officer (CEO) transition process. In this regard, Michelle Gass will step down as CEO and member of the Kohl’s Board of Directors, effective Dec 2, 2022. Meanwhile, Tom Kingsbury will serve as the interim CEO from the same date. In addition, Kohl’s provided its third-quarter 2022 preliminary results. Management expects earnings per share of 82 cents and operating margin of 4.7% in the third quarter.
This department store operator is expected to post quarterly earnings of $0.64 per share in its upcoming report, which represents a year-over-year change of -61.2%. Revenues are expected to be $4.3 billion, down 6.6% 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 Kohl's, the consensus EPS estimate for the quarter has been revised 5% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on KSS going forward to see if this recent jump can turn into more strength down the road.
Kohl's belongs to the Zacks Retail - Regional Department Stores industry. Another stock from the same industry, Macy's (M - Free Report) , closed the last trading session 0.7% higher at $19.72. Over the past month, M has returned 14%.
For Macy's, the consensus EPS estimate for the upcoming report has changed +0.2% over the past month to $0.19. This represents a change of -84.6% from what the company reported a year ago. Macy's currently has a Zacks Rank of #3 (Hold).
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Kohl's (KSS) Surges 7.3%: Is This an Indication of Further Gains?
Kohl's (KSS - Free Report) shares soared 7.3% in the last trading session to close at $28.82. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 0.4% loss over the past four weeks.
Shares of Kohl's rallied following news related to its Chief Executive Officer (CEO) transition process. In this regard, Michelle Gass will step down as CEO and member of the Kohl’s Board of Directors, effective Dec 2, 2022. Meanwhile, Tom Kingsbury will serve as the interim CEO from the same date. In addition, Kohl’s provided its third-quarter 2022 preliminary results. Management expects earnings per share of 82 cents and operating margin of 4.7% in the third quarter.
This department store operator is expected to post quarterly earnings of $0.64 per share in its upcoming report, which represents a year-over-year change of -61.2%. Revenues are expected to be $4.3 billion, down 6.6% 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 Kohl's, the consensus EPS estimate for the quarter has been revised 5% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on KSS 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 >>>>
Kohl's belongs to the Zacks Retail - Regional Department Stores industry. Another stock from the same industry, Macy's (M - Free Report) , closed the last trading session 0.7% higher at $19.72. Over the past month, M has returned 14%.
For Macy's, the consensus EPS estimate for the upcoming report has changed +0.2% over the past month to $0.19. This represents a change of -84.6% from what the company reported a year ago. Macy's currently has a Zacks Rank of #3 (Hold).