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Strength Seen in CACI International (CACI): Can Its 5.8% Jump Turn into More Strength?
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CACI International (CACI - Free Report) shares rallied 5.8% in the last trading session to close at $333.35. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 0.8% loss over the past four weeks.
CACI’s stock appreciated on continued optimism surrounding the demand for its products and solutions. It has been benefiting from new business wins and organic expansions. The company has a large pipeline of new projects and continues to win more deals at regular intervals.
Furthermore, having the government as a big client lends stability to the business and moderate fluctuations in revenue. CACI continues to generate higher cash flows mainly driven by growth in billing and collection processes.
This defense contractor is expected to post quarterly earnings of $4.50 per share in its upcoming report, which represents a year-over-year change of +3.2%. Revenues are expected to be $1.69 billion, up 5.1% 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 CACI International, 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 CACI going forward to see if this recent jump can turn into more strength down the road.
CACI International belongs to the Zacks Computer - Services industry. Another stock from the same industry, Forrester Research (FORR - Free Report) , closed the last trading session 1.2% higher at $29.24. Over the past month, FORR has returned -1.3%.
Forrester Research's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.34. Compared to the company's year-ago EPS, this represents a change of -40.4%. Forrester Research currently boasts a Zacks Rank of #3 (Hold).
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Strength Seen in CACI International (CACI): Can Its 5.8% Jump Turn into More Strength?
CACI International (CACI - Free Report) shares rallied 5.8% in the last trading session to close at $333.35. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 0.8% loss over the past four weeks.
CACI’s stock appreciated on continued optimism surrounding the demand for its products and solutions. It has been benefiting from new business wins and organic expansions. The company has a large pipeline of new projects and continues to win more deals at regular intervals.
Furthermore, having the government as a big client lends stability to the business and moderate fluctuations in revenue. CACI continues to generate higher cash flows mainly driven by growth in billing and collection processes.
This defense contractor is expected to post quarterly earnings of $4.50 per share in its upcoming report, which represents a year-over-year change of +3.2%. Revenues are expected to be $1.69 billion, up 5.1% 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 CACI International, 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 CACI 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 >>>>
CACI International belongs to the Zacks Computer - Services industry. Another stock from the same industry, Forrester Research (FORR - Free Report) , closed the last trading session 1.2% higher at $29.24. Over the past month, FORR has returned -1.3%.
Forrester Research's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.34. Compared to the company's year-ago EPS, this represents a change of -40.4%. Forrester Research currently boasts a Zacks Rank of #3 (Hold).