Back to top
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Cherry Hill Mortgage Investment Corporation (CHMI) - free report >>
We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Cherry Hill Mortgage Investment Corporation (CHMI) - free report >>
Image: Bigstock
ACRES Commercial (ACR) Soars 8.5%: Is Further Upside Left in the Stock?
ACRES Commercial (ACR - Free Report) shares soared 8.5% in the last trading session to close at $9.43. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 8.7% loss over the past four weeks.
After the stock market fallout due to the collapse of two S&P 500 banks, investors regained some confidence in the finance sector, backed by the steps taken by the regulators to avert a full-blown crisis. This, along with gradually cooling inflation and less chance of a bigger rate hike, reinforced investor optimism. These developments drove the ACR stock.
This commercial real estate investment trust is expected to post quarterly earnings of $0.58 per share in its upcoming report, which represents a year-over-year change of +332%. Revenues are expected to be $13.9 million, up 78.9% 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 ACRES Commercial, the consensus EPS estimate for the quarter has been revised 78.6% 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 ACR going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
ACRES Commercial is part of the Zacks REIT and Equity Trust industry. Cherry Hill Mortgage (CHMI - Free Report) , another stock in the same industry, closed the last trading session 2% higher at $5.59. CHMI has returned -18.9% in the past month.
Cherry Hill's consensus EPS estimate for the upcoming report has changed -10.7% over the past month to $0.25. Compared to the company's year-ago EPS, this represents a change of -26.5%. Cherry Hill currently boasts a Zacks Rank of #4 (Sell).