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Strength Seen in Landsea Homes Corporation (LSEA): Can Its 6.5% Jump Turn into More Strength?
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Landsea Homes Corporation (LSEA - Free Report) shares soared 6.5% in the last trading session to close at $8.39. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 23.1% gain over the past four weeks.
Landsea Homes's rally is buoyed by optimism regarding the company’s strength in high-performance home series. Positive investor sentiments were witnessed on the company's recent acquisition of 38 homesites in the Avery Centre master planned community in Greater Austin Metro area.
This company is expected to post quarterly earnings of $0.22 per share in its upcoming report, which represents a year-over-year change of -69%. Revenues are expected to be $244.82 million, down 33.6% 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 Landsea Homes Corporation, 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 LSEA going forward to see if this recent jump can turn into more strength down the road.
Landsea Homes Corporation is part of the Zacks Building Products - Home Builders industry. Taylor Morrison Home (TMHC - Free Report) , another stock in the same industry, closed the last trading session 1.7% higher at $47.50. TMHC has returned 7.1% in the past month.
For Taylor Morrison, the consensus EPS estimate for the upcoming report has changed -2.5% over the past month to $1.57. This represents a change of -30.8% from what the company reported a year ago. Taylor Morrison currently has a Zacks Rank of #2 (Buy).
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Strength Seen in Landsea Homes Corporation (LSEA): Can Its 6.5% Jump Turn into More Strength?
Landsea Homes Corporation (LSEA - Free Report) shares soared 6.5% in the last trading session to close at $8.39. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 23.1% gain over the past four weeks.
Landsea Homes's rally is buoyed by optimism regarding the company’s strength in high-performance home series. Positive investor sentiments were witnessed on the company's recent acquisition of 38 homesites in the Avery Centre master planned community in Greater Austin Metro area.
This company is expected to post quarterly earnings of $0.22 per share in its upcoming report, which represents a year-over-year change of -69%. Revenues are expected to be $244.82 million, down 33.6% 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 Landsea Homes Corporation, 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 LSEA going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Landsea Homes Corporation is part of the Zacks Building Products - Home Builders industry. Taylor Morrison Home (TMHC - Free Report) , another stock in the same industry, closed the last trading session 1.7% higher at $47.50. TMHC has returned 7.1% in the past month.
For Taylor Morrison, the consensus EPS estimate for the upcoming report has changed -2.5% over the past month to $1.57. This represents a change of -30.8% from what the company reported a year ago. Taylor Morrison currently has a Zacks Rank of #2 (Buy).