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Strength Seen in Tree.com (TREE): Can Its 22.1% Jump Turn into More Strength?
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Tree.com (TREE - Free Report) shares rallied 22.1% in the last trading session to close at $34.87. 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 20.4% gain over the past four weeks.
Federal Reserve signaled the end of interest rate hikes this cycle in December 2023 and also indicated three interest rate cuts by 2024 end. A decline in interest rates is likely to result in a greater demand for consumer loans. Further, declining mortgage rates reflect a rise in demand for mortgage loans in the upcoming period. These favorable developments seem to cheer investors, driving LendingTree, LLC stock higher.
This mortgage lending service provider is expected to post quarterly earnings of $0.14 per share in its upcoming report, which represents a year-over-year change of -63.2%. Revenues are expected to be $135.55 million, down 32.9% 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 Tree.com, 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 TREE going forward to see if this recent jump can turn into more strength down the road.
Tree.com is a member of the Zacks Financial - Mortgage & Related Services industry. One other stock in the same industry, Walker & Dunlop (WD - Free Report) , finished the last trading session 1.1% higher at $100.40. WD has returned 6.3% over the past month.
For Walker & Dunlop, the consensus EPS estimate for the upcoming report has changed +2.4% over the past month to $1.05. This represents a change of -25.5% from what the company reported a year ago. Walker & Dunlop currently has a Zacks Rank of #5 (Strong Sell).
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Strength Seen in Tree.com (TREE): Can Its 22.1% Jump Turn into More Strength?
Tree.com (TREE - Free Report) shares rallied 22.1% in the last trading session to close at $34.87. 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 20.4% gain over the past four weeks.
Federal Reserve signaled the end of interest rate hikes this cycle in December 2023 and also indicated three interest rate cuts by 2024 end. A decline in interest rates is likely to result in a greater demand for consumer loans. Further, declining mortgage rates reflect a rise in demand for mortgage loans in the upcoming period. These favorable developments seem to cheer investors, driving LendingTree, LLC stock higher.
This mortgage lending service provider is expected to post quarterly earnings of $0.14 per share in its upcoming report, which represents a year-over-year change of -63.2%. Revenues are expected to be $135.55 million, down 32.9% 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 Tree.com, 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 TREE 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 >>>>
Tree.com is a member of the Zacks Financial - Mortgage & Related Services industry. One other stock in the same industry, Walker & Dunlop (WD - Free Report) , finished the last trading session 1.1% higher at $100.40. WD has returned 6.3% over the past month.
For Walker & Dunlop, the consensus EPS estimate for the upcoming report has changed +2.4% over the past month to $1.05. This represents a change of -25.5% from what the company reported a year ago. Walker & Dunlop currently has a Zacks Rank of #5 (Strong Sell).