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Montrose Environmental (ONT) Surges 6.0%: Is This an Indication of Further Gains?
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Montrose Environmental (ONT - Free Report) shares ended the last trading session 6% higher at $17.8. 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 5.7% gain over the past four weeks.
The stock recorded this price increase as the company benefits from the consulting and treatment segment’s organic growth, higher-margin project mix and prudent cost management.
This company is expected to post quarterly earnings of $0.39 per share in its upcoming report, which represents a year-over-year change of -38.1%. Revenues are expected to be $198.78 million, down 15.3% 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 Montrose Environmental, 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 ONT going forward to see if this recent jump can turn into more strength down the road.
Montrose Environmental belongs to the Zacks Waste Removal Services industry. Another stock from the same industry, LanzaTech Global, Inc. (LNZA - Free Report) , closed the last trading session 0.5% higher at $5.79. Over the past month, LNZA has returned -21.4%.
For LanzaTech Global, Inc., the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.76. This represents a change of +94.9% from what the company reported a year ago. LanzaTech Global, Inc. currently has a Zacks Rank of #1 (Strong Buy).
View the Zacks #1 Rank List
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Montrose Environmental (ONT) Surges 6.0%: Is This an Indication of Further Gains?
Montrose Environmental (ONT - Free Report) shares ended the last trading session 6% higher at $17.8. 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 5.7% gain over the past four weeks.
The stock recorded this price increase as the company benefits from the consulting and treatment segment’s organic growth, higher-margin project mix and prudent cost management.
This company is expected to post quarterly earnings of $0.39 per share in its upcoming report, which represents a year-over-year change of -38.1%. Revenues are expected to be $198.78 million, down 15.3% 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 Montrose Environmental, 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 ONT 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 >>>>
Montrose Environmental belongs to the Zacks Waste Removal Services industry. Another stock from the same industry, LanzaTech Global, Inc. (LNZA - Free Report) , closed the last trading session 0.5% higher at $5.79. Over the past month, LNZA has returned -21.4%.
For LanzaTech Global, Inc., the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.76. This represents a change of +94.9% from what the company reported a year ago. LanzaTech Global, Inc. currently has a Zacks Rank of #1 (Strong Buy).