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Strength Seen in Silvercrest (SAMG): Can Its 6.2% Jump Turn into More Strength?
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Silvercrest (SAMG - Free Report) shares rallied 6.2% in the last trading session to close at $16.53. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 20.4% loss over the past four weeks.
After stumbling significantly over the past few trading days, the trend for SAMG has reversed. Following the fall-out from the collapse of two S&P 500 finance companies, investors have regained some confidence in the finance sector amid the steps taken by regulators to avert a full-blown bank run. Moreover, inflation numbers have come out as expected, which has further reinforced investor optimism. These developments drove the SAMG stock higher in last day’s trading session.
This investment company is expected to post quarterly earnings of $0.37 per share in its upcoming report, which represents a year-over-year change of -17.8%. Revenues are expected to be $29.6 million, down 11.7% 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 Silvercrest, the consensus EPS estimate for the quarter has been revised 7.4% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on SAMG going forward to see if this recent jump can turn into more strength down the road.
Silvercrest is part of the Zacks Financial - Investment Management industry. KKR & Co. Inc. (KKR - Free Report) , another stock in the same industry, closed the last trading session 2.1% higher at $50.87. KKR has returned -15.7% in the past month.
For KKR & Co. Inc., the consensus EPS estimate for the upcoming report has changed -8% over the past month to $0.85. This represents a change of -22.7% from what the company reported a year ago. KKR & Co. Inc. currently has a Zacks Rank of #4 (Sell).
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Strength Seen in Silvercrest (SAMG): Can Its 6.2% Jump Turn into More Strength?
Silvercrest (SAMG - Free Report) shares rallied 6.2% in the last trading session to close at $16.53. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 20.4% loss over the past four weeks.
After stumbling significantly over the past few trading days, the trend for SAMG has reversed. Following the fall-out from the collapse of two S&P 500 finance companies, investors have regained some confidence in the finance sector amid the steps taken by regulators to avert a full-blown bank run. Moreover, inflation numbers have come out as expected, which has further reinforced investor optimism. These developments drove the SAMG stock higher in last day’s trading session.
This investment company is expected to post quarterly earnings of $0.37 per share in its upcoming report, which represents a year-over-year change of -17.8%. Revenues are expected to be $29.6 million, down 11.7% 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 Silvercrest, the consensus EPS estimate for the quarter has been revised 7.4% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on SAMG 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 >>>>
Silvercrest is part of the Zacks Financial - Investment Management industry. KKR & Co. Inc. (KKR - Free Report) , another stock in the same industry, closed the last trading session 2.1% higher at $50.87. KKR has returned -15.7% in the past month.
For KKR & Co. Inc., the consensus EPS estimate for the upcoming report has changed -8% over the past month to $0.85. This represents a change of -22.7% from what the company reported a year ago. KKR & Co. Inc. currently has a Zacks Rank of #4 (Sell).