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Graham (GHM) Surges 7.4%: Is This an Indication of Further Gains?
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Graham Corporation (GHM - Free Report) shares ended the last trading session 7.4% higher at $48.40. 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 22.5% gain over the past four weeks.
Graham Corporation’s rally is largely driven by optimism over increased sales of capital equipment to foreign markets and higher aftermarket sales. Also, growth in existing programs, improved pricing and favorable timing of key project milestones bode well for the company.
This maker of vacuum and heat-transfer equipment is expected to post quarterly earnings of $0.25 per share in its upcoming report, which represents a year-over-year change of -24.2%. Revenues are expected to be $54 million, up 8.1% 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 Graham, 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 GHM going forward to see if this recent jump can turn into more strength down the road.
Graham is a member of the Zacks Manufacturing - General Industrial industry. One other stock in the same industry, Graco Inc. (GGG - Free Report) , finished the last trading session 1.6% higher at $85.34. GGG has returned 0.4% over the past month.
For Graco, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.78. This represents a change of +1.3% from what the company reported a year ago. Graco currently has a Zacks Rank of #3 (Hold).
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Graham (GHM) Surges 7.4%: Is This an Indication of Further Gains?
Graham Corporation (GHM - Free Report) shares ended the last trading session 7.4% higher at $48.40. 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 22.5% gain over the past four weeks.
Graham Corporation’s rally is largely driven by optimism over increased sales of capital equipment to foreign markets and higher aftermarket sales. Also, growth in existing programs, improved pricing and favorable timing of key project milestones bode well for the company.
This maker of vacuum and heat-transfer equipment is expected to post quarterly earnings of $0.25 per share in its upcoming report, which represents a year-over-year change of -24.2%. Revenues are expected to be $54 million, up 8.1% 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 Graham, 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 GHM 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 >>>>
Graham is a member of the Zacks Manufacturing - General Industrial industry. One other stock in the same industry, Graco Inc. (GGG - Free Report) , finished the last trading session 1.6% higher at $85.34. GGG has returned 0.4% over the past month.
For Graco, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.78. This represents a change of +1.3% from what the company reported a year ago. Graco currently has a Zacks Rank of #3 (Hold).