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Root, Inc. (ROOT) Rises As Market Takes a Dip: Key Facts
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The latest trading session saw Root, Inc. (ROOT - Free Report) ending at $51.44, denoting a +0.02% adjustment from its last day's close. The stock's change was more than the S&P 500's daily loss of 0.88%. On the other hand, the Dow registered a gain of 0.56%, and the technology-centric Nasdaq decreased by 2.05%.
The company's shares have seen a decrease of 0.66% over the last month, surpassing the Finance sector's loss of 6.2% and the S&P 500's loss of 2.57%.
The investment community will be closely monitoring the performance of Root, Inc. in its forthcoming earnings report. The company is scheduled to release its earnings on April 30, 2024. The company's earnings per share (EPS) are projected to be -$2.51, reflecting a 12.85% increase from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $185 million, indicating a 163.91% growth compared to the corresponding quarter of the prior year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$7.87 per share and revenue of $918 million. These totals would mark changes of +23.14% and +101.76%, respectively, from last year.
Investors should also take note of any recent adjustments to analyst estimates for Root, Inc. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Root, Inc. is currently a Zacks Rank #2 (Buy).
The Insurance - Property and Casualty industry is part of the Finance sector. This group has a Zacks Industry Rank of 56, putting it in the top 23% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow ROOT in the coming trading sessions, be sure to utilize Zacks.com.
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Root, Inc. (ROOT) Rises As Market Takes a Dip: Key Facts
The latest trading session saw Root, Inc. (ROOT - Free Report) ending at $51.44, denoting a +0.02% adjustment from its last day's close. The stock's change was more than the S&P 500's daily loss of 0.88%. On the other hand, the Dow registered a gain of 0.56%, and the technology-centric Nasdaq decreased by 2.05%.
The company's shares have seen a decrease of 0.66% over the last month, surpassing the Finance sector's loss of 6.2% and the S&P 500's loss of 2.57%.
The investment community will be closely monitoring the performance of Root, Inc. in its forthcoming earnings report. The company is scheduled to release its earnings on April 30, 2024. The company's earnings per share (EPS) are projected to be -$2.51, reflecting a 12.85% increase from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $185 million, indicating a 163.91% growth compared to the corresponding quarter of the prior year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$7.87 per share and revenue of $918 million. These totals would mark changes of +23.14% and +101.76%, respectively, from last year.
Investors should also take note of any recent adjustments to analyst estimates for Root, Inc. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Root, Inc. is currently a Zacks Rank #2 (Buy).
The Insurance - Property and Casualty industry is part of the Finance sector. This group has a Zacks Industry Rank of 56, putting it in the top 23% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow ROOT in the coming trading sessions, be sure to utilize Zacks.com.