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Blue Owl Capital Inc. (OWL) Surges 7.2%: Is This an Indication of Further Gains?
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Blue Owl Capital Inc. (OWL - Free Report) shares soared 7.2% in the last trading session to close at $12.89. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 10.3% gain over the past four weeks.
With the chances of the Federal Reserve hiking interest rates at this month’s FOMC meeting gradually coming down, investors are regaining confidence on finance stocks. Thus, investors turned bullish, driving the OWL stock higher.
This company is expected to post quarterly earnings of $0.16 per share in its upcoming report, which represents a year-over-year change of +14.3%. Revenues are expected to be $412.23 million, up 11.1% 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 Blue Owl Capital 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 OWL going forward to see if this recent jump can turn into more strength down the road.
Blue Owl Capital Inc. belongs to the Zacks Financial - Investment Management industry. Another stock from the same industry, Franklin Resources (BEN - Free Report) , closed the last trading session 0.1% higher at $26.25. Over the past month, BEN has returned -0.2%.
For Franklin Resources, the consensus EPS estimate for the upcoming report has changed +2.9% over the past month to $0.64. This represents a change of -18% from what the company reported a year ago. Franklin Resources currently has a Zacks Rank of #3 (Hold).
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Blue Owl Capital Inc. (OWL) Surges 7.2%: Is This an Indication of Further Gains?
Blue Owl Capital Inc. (OWL - Free Report) shares soared 7.2% in the last trading session to close at $12.89. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 10.3% gain over the past four weeks.
With the chances of the Federal Reserve hiking interest rates at this month’s FOMC meeting gradually coming down, investors are regaining confidence on finance stocks. Thus, investors turned bullish, driving the OWL stock higher.
This company is expected to post quarterly earnings of $0.16 per share in its upcoming report, which represents a year-over-year change of +14.3%. Revenues are expected to be $412.23 million, up 11.1% 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 Blue Owl Capital 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 OWL 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 >>>>
Blue Owl Capital Inc. belongs to the Zacks Financial - Investment Management industry. Another stock from the same industry, Franklin Resources (BEN - Free Report) , closed the last trading session 0.1% higher at $26.25. Over the past month, BEN has returned -0.2%.
For Franklin Resources, the consensus EPS estimate for the upcoming report has changed +2.9% over the past month to $0.64. This represents a change of -18% from what the company reported a year ago. Franklin Resources currently has a Zacks Rank of #3 (Hold).