We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
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, Inc. (PNTG) Soars 5.6%: Is Further Upside Left in the Stock?
Read MoreHide Full Article
The Pennant Group, Inc. (PNTG - Free Report) shares ended the last trading session 5.6% higher at $11.25. 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 8.9% loss over the past four weeks.
The Pennant Group, Inc. recorded a strong price increase after Oppenheimer’s analyst confirmed to have hosted meetings with its management. Per Oppenheimer, the company’s promising underlying industry growth, led by a shift from the institutional setting to the home, looked favorable for the company. Also, anticipated better-than-expected third-quarter 2023 revenues and earnings per share with the latest Zacks Consensus Estimate showing significant upward revision for the metrices compared to the year-ago reported numbers raise optimism about the stock. The company is expected to release its third-quarter earnings on Nov 6, 2023.
This company is expected to post quarterly earnings of $0.19 per share in its upcoming report, which represents a year-over-year change of +35.7%. Revenues are expected to be $131.18 million, up 10.8% 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, Inc., 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, Inc. belongs to the Zacks Medical - Outpatient and Home Healthcare industry. Another stock from the same industry, Aveanna Healthcare (AVAH - Free Report) , closed the last trading session 5.6% lower at $1.18. Over the past month, AVAH has returned 0.8%.
For Aveanna, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.03. This represents no change from what the company reported a year ago. Aveanna currently has a Zacks Rank of #3 (Hold).
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
The Pennant Group, Inc. (PNTG) Soars 5.6%: Is Further Upside Left in the Stock?
The Pennant Group, Inc. (PNTG - Free Report) shares ended the last trading session 5.6% higher at $11.25. 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 8.9% loss over the past four weeks.
The Pennant Group, Inc. recorded a strong price increase after Oppenheimer’s analyst confirmed to have hosted meetings with its management. Per Oppenheimer, the company’s promising underlying industry growth, led by a shift from the institutional setting to the home, looked favorable for the company. Also, anticipated better-than-expected third-quarter 2023 revenues and earnings per share with the latest Zacks Consensus Estimate showing significant upward revision for the metrices compared to the year-ago reported numbers raise optimism about the stock. The company is expected to release its third-quarter earnings on Nov 6, 2023.
This company is expected to post quarterly earnings of $0.19 per share in its upcoming report, which represents a year-over-year change of +35.7%. Revenues are expected to be $131.18 million, up 10.8% 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, Inc., 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, Inc. belongs to the Zacks Medical - Outpatient and Home Healthcare industry. Another stock from the same industry, Aveanna Healthcare (AVAH - Free Report) , closed the last trading session 5.6% lower at $1.18. Over the past month, AVAH has returned 0.8%.
For Aveanna, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.03. This represents no change from what the company reported a year ago. Aveanna currently has a Zacks Rank of #3 (Hold).