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Strength Seen in Guess (GES): Can Its 6.1% Jump Turn into More Strength?
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Guess (GES - Free Report) shares rallied 6.1% in the last trading session to close at $33.40. 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 24.2% gain over the past four weeks.
Guess?’s shares rallied following news related to authorization of a new share buyback plan of up to $200 million of its common stock. The company also unveiled that it will repurchase 326,429 shares worth $10.3 million through a convertible bond exchange transaction as part of its new program. The latest announcement underscores Guess?’s financial health and commitment to shareholder value.
This clothing company is expected to post quarterly loss of $0.18 per share in its upcoming report, which represents a year-over-year change of -157.1%. Revenues are expected to be $577.39 million, up 1.3% 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 Guess, the consensus EPS estimate for the quarter has been revised 7600% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on GES going forward to see if this recent jump can turn into more strength down the road.
Guess is a member of the Zacks Textile - Apparel industry. One other stock in the same industry, Crocs (CROX - Free Report) , finished the last trading session 1.4% higher at $145.75. CROX has returned 15.2% over the past month.
Crocs' consensus EPS estimate for the upcoming report has remained unchanged over the past month at $2.25. Compared to the company's year-ago EPS, this represents a change of -13.8%. Crocs currently boasts a Zacks Rank of #2 (Buy).
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Strength Seen in Guess (GES): Can Its 6.1% Jump Turn into More Strength?
Guess (GES - Free Report) shares rallied 6.1% in the last trading session to close at $33.40. 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 24.2% gain over the past four weeks.
Guess?’s shares rallied following news related to authorization of a new share buyback plan of up to $200 million of its common stock. The company also unveiled that it will repurchase 326,429 shares worth $10.3 million through a convertible bond exchange transaction as part of its new program. The latest announcement underscores Guess?’s financial health and commitment to shareholder value.
This clothing company is expected to post quarterly loss of $0.18 per share in its upcoming report, which represents a year-over-year change of -157.1%. Revenues are expected to be $577.39 million, up 1.3% 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 Guess, the consensus EPS estimate for the quarter has been revised 7600% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on GES 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 >>>>
Guess is a member of the Zacks Textile - Apparel industry. One other stock in the same industry, Crocs (CROX - Free Report) , finished the last trading session 1.4% higher at $145.75. CROX has returned 15.2% over the past month.
Crocs' consensus EPS estimate for the upcoming report has remained unchanged over the past month at $2.25. Compared to the company's year-ago EPS, this represents a change of -13.8%. Crocs currently boasts a Zacks Rank of #2 (Buy).