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HA Sustainable Infrastructure Capital, Inc. (HASI) - free report >>
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HA Sustainable Infrastructure Capital, Inc. (HASI) - free report >>
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Hannon Armstrong (HASI) Stock Jumps 8.6%: Will It Continue to Soar?
Hannon Armstrong (HASI - Free Report) shares rallied 8.6% in the last trading session to close at $24.18. 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 27.4% loss over the past four weeks.
The Inflation Reduction Act (IRA) of 2022 will boost renewable energy and expand the company’s investable universe. Amid recessionary concerns, energy-efficiency projects are expected to increase, driving new energy-efficiency transactions. Hence, investors are bullish about Hannon Armstrong Sustainable Infrastructure, owing to expectations of prospects of this business and higher policy support.
This provider of financing for sustainable infrastructure projects is expected to post quarterly earnings of $0.50 per share in its upcoming report, which represents a year-over-year change of +22%. Revenues are expected to be $30.54 million, up 41.9% 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 Hannon Armstrong, 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 HASI 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 >>>>
Hannon Armstrong belongs to the Zacks REIT and Equity Trust industry. Another stock from the same industry, ACRES Commercial (ACR - Free Report) , closed the last trading session 1.8% higher at $8.87. Over the past month, ACR has returned 1.3%.
For ACRES Commercial, the consensus EPS estimate for the upcoming report has changed -10.7% over the past month to $0.31. This represents a change of +186.1% from what the company reported a year ago. ACRES Commercial currently has a Zacks Rank of #2 (Buy).