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Aon (AON) Stock Jumps 4.6%: Will It Continue to Soar?
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Aon (AON - Free Report) shares ended the last trading session 4.6% higher at $299.02. 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 9.3% loss over the past four weeks.
The upside can be attributed to the strength of its diversified solutions suite that continues to drive the commissions and fees of Aon. The sound performance of Commercial Risk Solutions, Reinsurance Solutions, Health Solutions and Wealth Solutions segments also contribute to its top-line growth. Management anticipates a mid-single-digit or greater organic revenue growth, margin improvement and double-digit free cash flow growth in 2023 and beyond.
This insurance brokerage is expected to post quarterly earnings of $5.23 per share in its upcoming report, which represents a year-over-year change of +8.3%. Revenues are expected to be $3.81 billion, up 3.7% 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 Aon, the consensus EPS estimate for the quarter has been revised marginally 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 AON going forward to see if this recent jump can turn into more strength down the road.
Aon is part of the Zacks Insurance - Brokerage industry. Marsh & McLennan (MMC - Free Report) , another stock in the same industry, closed the last trading session 3% higher at $158.69. MMC has returned -8.3% in the past month.
Marsh & McLennan's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $2.44. Compared to the company's year-ago EPS, this represents a change of +6.1%. Marsh & McLennan currently boasts a Zacks Rank of #3 (Hold).
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Aon (AON) Stock Jumps 4.6%: Will It Continue to Soar?
Aon (AON - Free Report) shares ended the last trading session 4.6% higher at $299.02. 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 9.3% loss over the past four weeks.
The upside can be attributed to the strength of its diversified solutions suite that continues to drive the commissions and fees of Aon. The sound performance of Commercial Risk Solutions, Reinsurance Solutions, Health Solutions and Wealth Solutions segments also contribute to its top-line growth. Management anticipates a mid-single-digit or greater organic revenue growth, margin improvement and double-digit free cash flow growth in 2023 and beyond.
This insurance brokerage is expected to post quarterly earnings of $5.23 per share in its upcoming report, which represents a year-over-year change of +8.3%. Revenues are expected to be $3.81 billion, up 3.7% 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 Aon, the consensus EPS estimate for the quarter has been revised marginally 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 AON 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 >>>>
Aon is part of the Zacks Insurance - Brokerage industry. Marsh & McLennan (MMC - Free Report) , another stock in the same industry, closed the last trading session 3% higher at $158.69. MMC has returned -8.3% in the past month.
Marsh & McLennan's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $2.44. Compared to the company's year-ago EPS, this represents a change of +6.1%. Marsh & McLennan currently boasts a Zacks Rank of #3 (Hold).