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Strength Seen in Broadwind Energy, Inc. (BWEN): Can Its 12.6% Jump Turn into More Strength?
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Broadwind Energy, Inc. (BWEN - Free Report) shares soared 12.6% in the last trading session to close at $5.20. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 32.4% gain over the past four weeks.
The surge in the stock price can be linked to the company’s improved guidance for 2023. Broadwind now expects revenues of $205-$220 million compared with $200-$220 million anticipated earlier and earnings of $16-$18 per share compared with the previously expected earnings of $14-$16 per share.
This company is expected to post quarterly loss of $0.11 per share in its upcoming report, which represents a year-over-year change of +8.3%. Revenues are expected to be $45.65 million, up 9.1% 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 Broadwind Energy, Inc., 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 BWEN going forward to see if this recent jump can turn into more strength down the road.
Broadwind Energy, Inc. is part of the Zacks Manufacturing - General Industrial industry. Luxfer (LXFR - Free Report) , another stock in the same industry, closed the last trading session 1.3% higher at $15.80. LXFR has returned -2% in the past month.
Luxfer's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.22. Compared to the company's year-ago EPS, this represents a change of -33.3%. Luxfer currently boasts a Zacks Rank of #4 (Sell).
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Strength Seen in Broadwind Energy, Inc. (BWEN): Can Its 12.6% Jump Turn into More Strength?
Broadwind Energy, Inc. (BWEN - Free Report) shares soared 12.6% in the last trading session to close at $5.20. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 32.4% gain over the past four weeks.
The surge in the stock price can be linked to the company’s improved guidance for 2023. Broadwind now expects revenues of $205-$220 million compared with $200-$220 million anticipated earlier and earnings of $16-$18 per share compared with the previously expected earnings of $14-$16 per share.
This company is expected to post quarterly loss of $0.11 per share in its upcoming report, which represents a year-over-year change of +8.3%. Revenues are expected to be $45.65 million, up 9.1% 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 Broadwind Energy, Inc., 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 BWEN 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 >>>>
Broadwind Energy, Inc. is part of the Zacks Manufacturing - General Industrial industry. Luxfer (LXFR - Free Report) , another stock in the same industry, closed the last trading session 1.3% higher at $15.80. LXFR has returned -2% in the past month.
Luxfer's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.22. Compared to the company's year-ago EPS, this represents a change of -33.3%. Luxfer currently boasts a Zacks Rank of #4 (Sell).