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Casella Waste Systems, Inc. (CWST) - free report >>
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Casella Waste Systems, Inc. (CWST) - free report >>
Perma-Fix Environmental Services, Inc. (PESI) - free report >>
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Perma-Fix (PESI) Soars 10.3%: Is Further Upside Left in the Stock?
Perma-Fix Environmental Services, Inc. (PESI - Free Report) shares ended the last trading session 10.3% higher at $8.68. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 3.9% loss over the past four weeks.
Perma-Fix’s rally is primarily driven by optimism over the strong momentum in its Treatment and Services businesses. Strong demand for the company's environmental services across both government and commercial sectors and a solid backlog level bode well.
This company is expected to post quarterly earnings of $0.06 per share in its upcoming report, which represents a year-over-year change of +150%. Revenues are expected to be $22.5 million, up 34.3% 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 Perma-Fix Environmental Services, 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 PESI 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 >>>>
Perma-Fix Environmental Services, Inc. is part of the Zacks Pollution Control industry. Casella (CWST - Free Report) , another stock in the same industry, closed the last trading session 1.2% higher at $92.23. CWST has returned 4.4% in the past month.
For Casella, the consensus EPS estimate for the upcoming report has changed +13.6% over the past month to $0.06. This represents a change of -40% from what the company reported a year ago. Casella currently has a Zacks Rank of #5 (Strong Sell).