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Altisource Portfolio (ASPS) Soars 12.6%: Is Further Upside Left in the Stock?
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Altisource Portfolio Solutions (ASPS - Free Report) shares soared 12.6% in the last trading session to close at $5.53. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 20% loss over the past four weeks.
The increased optimism in the stock is attributable to the healthy operating fundamentals of its industry.
This real estate services firm is expected to post quarterly loss of $0.34 per share in its upcoming report, which represents a year-over-year change of +51.4%. Revenues are expected to be $39.07 million, up 3.8% 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 Altisource Portfolio, 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 ASPS going forward to see if this recent jump can turn into more strength down the road.
Altisource Portfolio belongs to the Zacks REIT and Equity Trust industry. Another stock from the same industry, Franklin BSP (FBRT - Free Report) , closed the last trading session 1.7% lower at $14.41. Over the past month, FBRT has returned 3%.
Franklin BSP's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.57. Compared to the company's year-ago EPS, this represents a change of +96.6%. Franklin BSP currently boasts a Zacks Rank of #2 (Buy).
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Altisource Portfolio (ASPS) Soars 12.6%: Is Further Upside Left in the Stock?
Altisource Portfolio Solutions (ASPS - Free Report) shares soared 12.6% in the last trading session to close at $5.53. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 20% loss over the past four weeks.
The increased optimism in the stock is attributable to the healthy operating fundamentals of its industry.
This real estate services firm is expected to post quarterly loss of $0.34 per share in its upcoming report, which represents a year-over-year change of +51.4%. Revenues are expected to be $39.07 million, up 3.8% 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 Altisource Portfolio, 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 ASPS 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 >>>>
Altisource Portfolio belongs to the Zacks REIT and Equity Trust industry. Another stock from the same industry, Franklin BSP (FBRT - Free Report) , closed the last trading session 1.7% lower at $14.41. Over the past month, FBRT has returned 3%.
Franklin BSP's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.57. Compared to the company's year-ago EPS, this represents a change of +96.6%. Franklin BSP currently boasts a Zacks Rank of #2 (Buy).