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Powell Industries (POWL) Soars 6.8%: Is Further Upside Left in the Stock?
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Powell Industries (POWL - Free Report) shares ended the last trading session 6.8% higher at $212.92. 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 17% gain over the past four weeks.
Powell’s rally is primarily driven persistent strength and healthy levels of project activity across the electric utility and commercial & other industrial markets. Several favorable trends across the oil, gas and petrochemical end markets, including growth in energy transition projects, such as biofuels, carbon capture and hydrogen, have been driving the company’s performance.
This energy equipment company is expected to post quarterly earnings of $3.73 per share in its upcoming report, which represents a year-over-year change of -1.6%. Revenues are expected to be $295.12 million, up 2.4% 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 Powell Industries, 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 POWL going forward to see if this recent jump can turn into more strength down the road.
Powell Industries is part of the Zacks Manufacturing - Electronics industry. AZZ (AZZ - Free Report) , another stock in the same industry, closed the last trading session 2.5% higher at $95.07. AZZ has returned 2.4% in the past month.
For AZZ, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1.58. This represents a change of +8.2% from what the company reported a year ago. AZZ currently has a Zacks Rank of #3 (Hold).
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Powell Industries (POWL) Soars 6.8%: Is Further Upside Left in the Stock?
Powell Industries (POWL - Free Report) shares ended the last trading session 6.8% higher at $212.92. 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 17% gain over the past four weeks.
Powell’s rally is primarily driven persistent strength and healthy levels of project activity across the electric utility and commercial & other industrial markets. Several favorable trends across the oil, gas and petrochemical end markets, including growth in energy transition projects, such as biofuels, carbon capture and hydrogen, have been driving the company’s performance.
This energy equipment company is expected to post quarterly earnings of $3.73 per share in its upcoming report, which represents a year-over-year change of -1.6%. Revenues are expected to be $295.12 million, up 2.4% 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 Powell Industries, 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 POWL 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 >>>>
Powell Industries is part of the Zacks Manufacturing - Electronics industry. AZZ (AZZ - Free Report) , another stock in the same industry, closed the last trading session 2.5% higher at $95.07. AZZ has returned 2.4% in the past month.
For AZZ, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1.58. This represents a change of +8.2% from what the company reported a year ago. AZZ currently has a Zacks Rank of #3 (Hold).