We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
The Pennant Group (PNTG) Moves 6.3% Higher: Will This Strength Last?
Read MoreHide Full Article
The Pennant Group, Inc. (PNTG - Free Report) shares soared 6.3% in the last trading session to close at $42.48. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 1.5% gain over the past four weeks.
The sharp rise in PNTG shares can be likely due to Pennant's recent acquisition of the real estate of Mainplace Senior Living in Orange, CA, a community its affiliated operator has operated since 2019 under a triple-net lease. The transaction expands the company-owned real estate portfolio and is expected to enhance long-term value creation. The deal aligns with the company's focus on capital deployment in the thriving senior living real estate segment and should strengthen long-term operating stability.
This company is expected to post quarterly earnings of $0.33 per share in its upcoming report, which represents a year-over-year change of +10%. Revenues are expected to be $294 million, up 28.4% 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 The Pennant Group, 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 PNTG going forward to see if this recent jump can turn into more strength down the road.
The Pennant Group is a member of the Zacks Medical - Outpatient and Home Healthcare industry. One other stock in the same industry, RadNet (RDNT - Free Report) , finished the last trading session 1.7% lower at $75.78. RDNT has returned 4.5% over the past month.
For RadNet, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.21. This represents a change of +5% from what the company reported a year ago. RadNet currently has a Zacks Rank of #3 (Hold).
View the Zacks #1 Rank List
Image: Bigstock
The Pennant Group (PNTG) Moves 6.3% Higher: Will This Strength Last?
The Pennant Group, Inc. (PNTG - Free Report) shares soared 6.3% in the last trading session to close at $42.48. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 1.5% gain over the past four weeks.
The sharp rise in PNTG shares can be likely due to Pennant's recent acquisition of the real estate of Mainplace Senior Living in Orange, CA, a community its affiliated operator has operated since 2019 under a triple-net lease. The transaction expands the company-owned real estate portfolio and is expected to enhance long-term value creation. The deal aligns with the company's focus on capital deployment in the thriving senior living real estate segment and should strengthen long-term operating stability.
This company is expected to post quarterly earnings of $0.33 per share in its upcoming report, which represents a year-over-year change of +10%. Revenues are expected to be $294 million, up 28.4% 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 The Pennant Group, 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 PNTG going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
The Pennant Group is a member of the Zacks Medical - Outpatient and Home Healthcare industry. One other stock in the same industry, RadNet (RDNT - Free Report) , finished the last trading session 1.7% lower at $75.78. RDNT has returned 4.5% over the past month.
For RadNet, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.21. This represents a change of +5% from what the company reported a year ago. RadNet currently has a Zacks Rank of #3 (Hold).