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Strength Seen in Moog (MOG.A): Can Its 5.4% Jump Turn into More Strength?
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Moog (MOG.A - Free Report) shares ended the last trading session 5.4% higher at $195. 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 14.4% gain over the past four weeks.
Boeing recently clinched a contract from Emirates Skycargo to deliver five of its 777 Freighter aircraft. With Moog Inc. being the manufacturer of flight control for 777 jetliner, this contract win might have resulted in the latest uptick in its share price.
This aerospace contractor is expected to post quarterly earnings of $1.76 per share in its upcoming report, which represents a year-over-year change of +28.5%. Revenues are expected to be $885.52 million, up 4.2% 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 Moog, 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 MOG.A going forward to see if this recent jump can turn into more strength down the road.
Moog is part of the Zacks Aerospace - Defense Equipment industry. AerSale Corporation (ASLE - Free Report) , another stock in the same industry, closed the last trading session 7% higher at $7.16. ASLE has returned -0.6% in the past month.
For AerSale, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.10. This represents a change of +433.3% from what the company reported a year ago. AerSale currently has a Zacks Rank of #3 (Hold).
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Strength Seen in Moog (MOG.A): Can Its 5.4% Jump Turn into More Strength?
Moog (MOG.A - Free Report) shares ended the last trading session 5.4% higher at $195. 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 14.4% gain over the past four weeks.
Boeing recently clinched a contract from Emirates Skycargo to deliver five of its 777 Freighter aircraft. With Moog Inc. being the manufacturer of flight control for 777 jetliner, this contract win might have resulted in the latest uptick in its share price.
This aerospace contractor is expected to post quarterly earnings of $1.76 per share in its upcoming report, which represents a year-over-year change of +28.5%. Revenues are expected to be $885.52 million, up 4.2% 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 Moog, 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 MOG.A going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Moog is part of the Zacks Aerospace - Defense Equipment industry. AerSale Corporation (ASLE - Free Report) , another stock in the same industry, closed the last trading session 7% higher at $7.16. ASLE has returned -0.6% in the past month.
For AerSale, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.10. This represents a change of +433.3% from what the company reported a year ago. AerSale currently has a Zacks Rank of #3 (Hold).