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IHS Holding (IHS) Surges 6.1%: Is This an Indication of Further Gains?
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IHS Holding (IHS - Free Report) shares soared 6.1% in the last trading session to close at $8.36. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 21.2% gain over the past four weeks.
The company is witnessing significant wireless broadband momentum with increased fiber densification. IHS is likely to record healthy revenues in the upcoming quarterly results driven by secular demand and incremental recurring revenue. Solid traction from power business remains an additional tailwind.
This telecommunications infrastructure company is expected to post quarterly earnings of $0.15 per share in its upcoming report, which represents a year-over-year change of +165.2%. Revenues are expected to be $490.11 million, up 17.9% 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 IHS Holding, 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 IHS going forward to see if this recent jump can turn into more strength down the road.
IHS Holding is a member of the Zacks Communication - Infrastructure industry. One other stock in the same industry, Bandwidth (BAND - Free Report) , finished the last trading session 3.6% higher at $25.98. BAND has returned 9% over the past month.
For Bandwidth, the consensus EPS estimate for the upcoming report has changed +4.1% over the past month to $0.04. This represents a change of -55.6% from what the company reported a year ago. Bandwidth currently has a Zacks Rank of #2 (Buy).
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IHS Holding (IHS) Surges 6.1%: Is This an Indication of Further Gains?
IHS Holding (IHS - Free Report) shares soared 6.1% in the last trading session to close at $8.36. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 21.2% gain over the past four weeks.
The company is witnessing significant wireless broadband momentum with increased fiber densification. IHS is likely to record healthy revenues in the upcoming quarterly results driven by secular demand and incremental recurring revenue. Solid traction from power business remains an additional tailwind.
This telecommunications infrastructure company is expected to post quarterly earnings of $0.15 per share in its upcoming report, which represents a year-over-year change of +165.2%. Revenues are expected to be $490.11 million, up 17.9% 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 IHS Holding, 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 IHS 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 >>>>
IHS Holding is a member of the Zacks Communication - Infrastructure industry. One other stock in the same industry, Bandwidth (BAND - Free Report) , finished the last trading session 3.6% higher at $25.98. BAND has returned 9% over the past month.
For Bandwidth, the consensus EPS estimate for the upcoming report has changed +4.1% over the past month to $0.04. This represents a change of -55.6% from what the company reported a year ago. Bandwidth currently has a Zacks Rank of #2 (Buy).