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A.P. Moller-Maersk (AMKBY) Moves 7.7% Higher: Will This Strength Last?
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A.P. Moller-Maersk (AMKBY - Free Report) shares soared 7.7% in the last trading session to close at $12.63. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 2.4% gain over the past four weeks.
The upside is not limited to Jan. 12 only. Shares of the shipping company have been performing well of late, gaining 30% over the past six months. Maersk is reportedly considering more ethanol use for its ships to reduce reliance on China.
This company is expected to post quarterly earnings of $0.12 per share in its upcoming report, which represents a year-over-year change of -82.6%. Revenues are expected to be $12.85 billion, down 12% 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 A.P. Moller-Maersk, 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 AMKBY going forward to see if this recent jump can turn into more strength down the road.
A.P. Moller-Maersk is a member of the Zacks Transportation - Shipping industry. One other stock in the same industry, Capital Clean Energy Carriers Corp. (CCEC - Free Report) , finished the last trading session 2.9% higher at $20.74. CCEC has returned -4.2% over the past month.
For Capital Clean Energy Carriers Corp., the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.39. This represents a change of +8.3% from what the company reported a year ago. Capital Clean Energy Carriers Corp. currently has a Zacks Rank of #3 (Hold).
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A.P. Moller-Maersk (AMKBY) Moves 7.7% Higher: Will This Strength Last?
A.P. Moller-Maersk (AMKBY - Free Report) shares soared 7.7% in the last trading session to close at $12.63. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 2.4% gain over the past four weeks.
The upside is not limited to Jan. 12 only. Shares of the shipping company have been performing well of late, gaining 30% over the past six months. Maersk is reportedly considering more ethanol use for its ships to reduce reliance on China.
This company is expected to post quarterly earnings of $0.12 per share in its upcoming report, which represents a year-over-year change of -82.6%. Revenues are expected to be $12.85 billion, down 12% 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 A.P. Moller-Maersk, 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 AMKBY 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 >>>>
A.P. Moller-Maersk is a member of the Zacks Transportation - Shipping industry. One other stock in the same industry, Capital Clean Energy Carriers Corp. (CCEC - Free Report) , finished the last trading session 2.9% higher at $20.74. CCEC has returned -4.2% over the past month.
For Capital Clean Energy Carriers Corp., the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.39. This represents a change of +8.3% from what the company reported a year ago. Capital Clean Energy Carriers Corp. currently has a Zacks Rank of #3 (Hold).