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Strength Seen in Celsius Holdings Inc. (CELH): Can Its 12.5% Jump Turn into More Strength?
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Celsius Holdings Inc. (CELH - Free Report) shares soared 12.5% in the last trading session to close at $174.55. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 5.8% gain over the past four weeks.
Celsius Holdings, which is slated to release third-quarter 2023 results on Nov 7 recently announced a three-for-one split for its common stock. The company has been seeing solid growth in tracked channels. Further, it has been benefiting from its focus on customer expansion and product innovation.
This company is expected to post quarterly earnings of $0.51 per share in its upcoming report, which represents a year-over-year change of +169.9%. Revenues are expected to be $348.35 million, up 85.1% 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 Celsius Holdings Inc., the consensus EPS estimate for the quarter has been revised 6.1% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on CELH going forward to see if this recent jump can turn into more strength down the road.
Celsius Holdings Inc. is part of the Zacks Food - Miscellaneous industry. Smucker (SJM - Free Report) , another stock in the same industry, closed the last trading session 0.4% higher at $113.47. SJM has returned -2.1% in the past month.
Smucker's consensus EPS estimate for the upcoming report has changed -0.3% over the past month to $2.47. Compared to the company's year-ago EPS, this represents a change of +2.9%. Smucker currently boasts a Zacks Rank of #3 (Hold).
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Strength Seen in Celsius Holdings Inc. (CELH): Can Its 12.5% Jump Turn into More Strength?
Celsius Holdings Inc. (CELH - Free Report) shares soared 12.5% in the last trading session to close at $174.55. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 5.8% gain over the past four weeks.
Celsius Holdings, which is slated to release third-quarter 2023 results on Nov 7 recently announced a three-for-one split for its common stock. The company has been seeing solid growth in tracked channels. Further, it has been benefiting from its focus on customer expansion and product innovation.
This company is expected to post quarterly earnings of $0.51 per share in its upcoming report, which represents a year-over-year change of +169.9%. Revenues are expected to be $348.35 million, up 85.1% 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 Celsius Holdings Inc., the consensus EPS estimate for the quarter has been revised 6.1% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on CELH 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 >>>>
Celsius Holdings Inc. is part of the Zacks Food - Miscellaneous industry. Smucker (SJM - Free Report) , another stock in the same industry, closed the last trading session 0.4% higher at $113.47. SJM has returned -2.1% in the past month.
Smucker's consensus EPS estimate for the upcoming report has changed -0.3% over the past month to $2.47. Compared to the company's year-ago EPS, this represents a change of +2.9%. Smucker currently boasts a Zacks Rank of #3 (Hold).