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OSI (OSIS) Moves 3.1% Higher: Will This Strength Last?
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OSI Systems (OSIS - Free Report) shares ended the last trading session 3.1% higher at $105.55. 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 7% gain over the past four weeks.
The upswing in share prices can be attributed to OSI's frequent contract wins that is driving top-line growth. Strong adoption of OSI's Real Time Tomography solution has been a key catalyst in the near term.
This airport security and full-body scanner manufacturer is expected to post quarterly earnings of $1.15 per share in its upcoming report, which represents a year-over-year change of -19.6%. Revenues are expected to be $307.8 million, up 6% 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 OSI, 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 OSIS going forward to see if this recent jump can turn into more strength down the road.
OSI is a member of the Zacks Electronics - Miscellaneous Components industry. One other stock in the same industry, Snap One Holdings Corp. (SNPO - Free Report) , finished the last trading session 0.3% higher at $9.38. SNPO has returned -23.4% over the past month.
For Snap One Holdings Corp., the consensus EPS estimate for the upcoming report has changed -181.8% over the past month to $0.11. This represents a change of -26.7% from what the company reported a year ago. Snap One Holdings Corp. currently has a Zacks Rank of #3 (Hold).
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OSI (OSIS) Moves 3.1% Higher: Will This Strength Last?
OSI Systems (OSIS - Free Report) shares ended the last trading session 3.1% higher at $105.55. 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 7% gain over the past four weeks.
The upswing in share prices can be attributed to OSI's frequent contract wins that is driving top-line growth. Strong adoption of OSI's Real Time Tomography solution has been a key catalyst in the near term.
This airport security and full-body scanner manufacturer is expected to post quarterly earnings of $1.15 per share in its upcoming report, which represents a year-over-year change of -19.6%. Revenues are expected to be $307.8 million, up 6% 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 OSI, 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 OSIS 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 >>>>
OSI is a member of the Zacks Electronics - Miscellaneous Components industry. One other stock in the same industry, Snap One Holdings Corp. (SNPO - Free Report) , finished the last trading session 0.3% higher at $9.38. SNPO has returned -23.4% over the past month.
For Snap One Holdings Corp., the consensus EPS estimate for the upcoming report has changed -181.8% over the past month to $0.11. This represents a change of -26.7% from what the company reported a year ago. Snap One Holdings Corp. currently has a Zacks Rank of #3 (Hold).