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Atlas Air (AAWW) Surges 12.3%: Is This an Indication of Further Gains?
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Atlas Air Worldwide shares rallied 12.3% in the last trading session to close at $84.99. 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 23.3% gain over the past four weeks.
The uptick was owing to the news that an investment group led by Apollo Global Management is interested in buying AAWW. According to media reports, the talks have reached an advanced stage. However, no deal has been reached so far. No further details of the talks are available.
This airplane leasing company and service provider is expected to post quarterly earnings of $3.30 per share in its upcoming report, which represents a year-over-year change of -19.5%. Revenues are expected to be $1.11 billion, up 12.1% 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 Atlas Air, 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 AAWW going forward to see if this recent jump can turn into more strength down the road.
Atlas Air belongs to the Zacks Transportation - Air Freight and Cargo industry. Another stock from the same industry, FedEx (FDX - Free Report) , closed the last trading session 2% higher at $237.70. Over the past month, FDX has returned 4.2%.
FedEx's consensus EPS estimate for the upcoming report has changed -2.8% over the past month to $5.08. Compared to the company's year-ago EPS, this represents a change of +16.3%. FedEx currently boasts a Zacks Rank of #3 (Hold).
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Atlas Air (AAWW) Surges 12.3%: Is This an Indication of Further Gains?
Atlas Air Worldwide shares rallied 12.3% in the last trading session to close at $84.99. 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 23.3% gain over the past four weeks.
The uptick was owing to the news that an investment group led by Apollo Global Management is interested in buying AAWW. According to media reports, the talks have reached an advanced stage. However, no deal has been reached so far. No further details of the talks are available.
This airplane leasing company and service provider is expected to post quarterly earnings of $3.30 per share in its upcoming report, which represents a year-over-year change of -19.5%. Revenues are expected to be $1.11 billion, up 12.1% 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 Atlas Air, 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 AAWW 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 >>>>
Atlas Air belongs to the Zacks Transportation - Air Freight and Cargo industry. Another stock from the same industry, FedEx (FDX - Free Report) , closed the last trading session 2% higher at $237.70. Over the past month, FDX has returned 4.2%.
FedEx's consensus EPS estimate for the upcoming report has changed -2.8% over the past month to $5.08. Compared to the company's year-ago EPS, this represents a change of +16.3%. FedEx currently boasts a Zacks Rank of #3 (Hold).