We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Virtus (VRTS) Soars 8.1%: Is Further Upside Left in the Stock?
Read MoreHide Full Article
Virtus Investment Partners (VRTS - Free Report) shares rallied 8.1% in the last trading session to close at $245.63. 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 1.2% loss over the past four weeks.
Virtus Investment Partners touched a new 52-week high in last day’s trading session. Given that investors are looking for better investment options in order to get higher yields, asset managers are expected to witness inflows, which will likely positively impact their top lines. This, along with the Federal Reserve’s affirmation of rate cuts this year has probably made investors bullish on the VRTS stock.
This asset management company is expected to post quarterly earnings of $5.38 per share in its upcoming report, which represents a year-over-year change of +28.1%. Revenues are expected to be $202.92 million, up 14.7% 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 Virtus, the consensus EPS estimate for the quarter has been revised 3.5% 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 VRTS going forward to see if this recent jump can turn into more strength down the road.
Virtus belongs to the Zacks Financial - Investment Management industry. Another stock from the same industry, Ameriprise Financial Services (AMP - Free Report) , closed the last trading session 0.7% higher at $415.47. Over the past month, AMP has returned 6.3%.
Ameriprise's consensus EPS estimate for the upcoming report has changed +0.5% over the past month to $8.10. Compared to the company's year-ago EPS, this represents a change of +11.7%. Ameriprise currently boasts a Zacks Rank of #3 (Hold).
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Shutterstock
Virtus (VRTS) Soars 8.1%: Is Further Upside Left in the Stock?
Virtus Investment Partners (VRTS - Free Report) shares rallied 8.1% in the last trading session to close at $245.63. 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 1.2% loss over the past four weeks.
Virtus Investment Partners touched a new 52-week high in last day’s trading session. Given that investors are looking for better investment options in order to get higher yields, asset managers are expected to witness inflows, which will likely positively impact their top lines. This, along with the Federal Reserve’s affirmation of rate cuts this year has probably made investors bullish on the VRTS stock.
This asset management company is expected to post quarterly earnings of $5.38 per share in its upcoming report, which represents a year-over-year change of +28.1%. Revenues are expected to be $202.92 million, up 14.7% 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 Virtus, the consensus EPS estimate for the quarter has been revised 3.5% 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 VRTS 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 >>>>
Virtus belongs to the Zacks Financial - Investment Management industry. Another stock from the same industry, Ameriprise Financial Services (AMP - Free Report) , closed the last trading session 0.7% higher at $415.47. Over the past month, AMP has returned 6.3%.
Ameriprise's consensus EPS estimate for the upcoming report has changed +0.5% over the past month to $8.10. Compared to the company's year-ago EPS, this represents a change of +11.7%. Ameriprise currently boasts a Zacks Rank of #3 (Hold).