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Mesa Labs (MLAB) Stock Jumps 5.7%: Will It Continue to Soar?
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Mesa Labs (MLAB - Free Report) shares rallied 5.7% in the last trading session to close at $73.14. 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 3.4% gain over the past four weeks.
Mesa Labs scored a strong price increase, on investors’ optimism surrounding its steady commercial success, ongoing traction with key initiatives and a resilient operating model. The company recently executed its strategic financial plan, repaying $97.5 million aggregate principal of the 1.375% Convertible Senior Notes due August 2025.
This quality control instruments and disposable products maker is expected to post quarterly earnings of $2.59 per share in its upcoming report, which represents a year-over-year change of +5.7%. Revenues are expected to be $61.3 million, up 6% 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 Mesa Labs, 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 MLAB going forward to see if this recent jump can turn into more strength down the road.
Mesa Labs is part of the Zacks Medical - Instruments industry. Waters (WAT - Free Report) , another stock in the same industry, closed the last trading session 1.8% lower at $300.87. WAT has returned 5.5% in the past month.
Waters' consensus EPS estimate for the upcoming report has remained unchanged over the past month at $3.22. Compared to the company's year-ago EPS, this represents a change of +9.9%. Waters currently boasts a Zacks Rank of #3 (Hold).
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Mesa Labs (MLAB) Stock Jumps 5.7%: Will It Continue to Soar?
Mesa Labs (MLAB - Free Report) shares rallied 5.7% in the last trading session to close at $73.14. 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 3.4% gain over the past four weeks.
Mesa Labs scored a strong price increase, on investors’ optimism surrounding its steady commercial success, ongoing traction with key initiatives and a resilient operating model. The company recently executed its strategic financial plan, repaying $97.5 million aggregate principal of the 1.375% Convertible Senior Notes due August 2025.
This quality control instruments and disposable products maker is expected to post quarterly earnings of $2.59 per share in its upcoming report, which represents a year-over-year change of +5.7%. Revenues are expected to be $61.3 million, up 6% 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 Mesa Labs, 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 MLAB 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 >>>>
Mesa Labs is part of the Zacks Medical - Instruments industry. Waters (WAT - Free Report) , another stock in the same industry, closed the last trading session 1.8% lower at $300.87. WAT has returned 5.5% in the past month.
Waters' consensus EPS estimate for the upcoming report has remained unchanged over the past month at $3.22. Compared to the company's year-ago EPS, this represents a change of +9.9%. Waters currently boasts a Zacks Rank of #3 (Hold).