Gates Industrial (GTES - Free Report) closed the most recent trading day at $13.07, moving +1.32% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.04%. Meanwhile, the Dow lost 0.1%, and the Nasdaq, a tech-heavy index, added 0.05%.
Prior to today's trading, shares of the manufacturer of power transmission and fluid power systems had gained 9.51% over the past month. This has outpaced the Construction sector's loss of 0.14% and the S&P 500's gain of 2.48% in that time.
GTES will be looking to display strength as it nears its next earnings release. In that report, analysts expect GTES to post earnings of $0.19 per share. This would mark a year-over-year decline of 47.22%. Our most recent consensus estimate is calling for quarterly revenue of $731.20 million, down 7.69% from the year-ago period.
GTES's full-year Zacks Consensus Estimates are calling for earnings of $0.95 per share and revenue of $3.09 billion. These results would represent year-over-year changes of -26.92% and -7.69%, respectively.
Investors should also note any recent changes to analyst estimates for GTES. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. GTES is currently a Zacks Rank #1 (Strong Buy).
Digging into valuation, GTES currently has a Forward P/E ratio of 13.65. This represents a discount compared to its industry's average Forward P/E of 15.73.
The Engineering - R and D Services industry is part of the Construction sector. This industry currently has a Zacks Industry Rank of 74, which puts it in the top 30% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.