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Expro Group Holdings (XPRO) Soars 7.8%: Is Further Upside Left in the Stock?
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Expro Group Holdings (XPRO - Free Report) shares ended the last trading session 7.8% higher at $16.80. 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 3% gain over the past four weeks.
Expro Group Holdings’ shares rallied on the last trading day. The bullishness could be attributed to the company’s positive momentum in the offshore energy market, particularly in the Asia Pacific region. Additionally, it has ventured into carbon capture operations and secured new contracts, including a four-year deal for well-flow management and production optimization services in Norway. These developments suggest an improving business scenario for Expro Group Holdings, which has positively impacted its stock price.
This oil and gas pipe provider is expected to post break-even quarterly earnings per share in its upcoming report, which represents a year-over-year change of -100%. Revenues are expected to be $383.59 million, up 9.3% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Expro Group Holdings, 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 XPRO going forward to see if this recent jump can turn into more strength down the road.
Expro Group Holdings is part of the Zacks Oil and Gas - Production and Pipelines industry. MPLX LP (MPLX - Free Report) , another stock in the same industry, closed the last trading session 0.7% higher at $37.11. MPLX has returned 2.7% in the past month.
For MPLX LP, the consensus EPS estimate for the upcoming report has changed -0.8% over the past month to $0.93. This represents a change of +19.2% from what the company reported a year ago. MPLX LP currently has a Zacks Rank of #3 (Hold).
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Expro Group Holdings (XPRO) Soars 7.8%: Is Further Upside Left in the Stock?
Expro Group Holdings (XPRO - Free Report) shares ended the last trading session 7.8% higher at $16.80. 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 3% gain over the past four weeks.
Expro Group Holdings’ shares rallied on the last trading day. The bullishness could be attributed to the company’s positive momentum in the offshore energy market, particularly in the Asia Pacific region. Additionally, it has ventured into carbon capture operations and secured new contracts, including a four-year deal for well-flow management and production optimization services in Norway. These developments suggest an improving business scenario for Expro Group Holdings, which has positively impacted its stock price.
This oil and gas pipe provider is expected to post break-even quarterly earnings per share in its upcoming report, which represents a year-over-year change of -100%. Revenues are expected to be $383.59 million, up 9.3% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Expro Group Holdings, 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 XPRO 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 >>>>
Expro Group Holdings is part of the Zacks Oil and Gas - Production and Pipelines industry. MPLX LP (MPLX - Free Report) , another stock in the same industry, closed the last trading session 0.7% higher at $37.11. MPLX has returned 2.7% in the past month.
For MPLX LP, the consensus EPS estimate for the upcoming report has changed -0.8% over the past month to $0.93. This represents a change of +19.2% from what the company reported a year ago. MPLX LP currently has a Zacks Rank of #3 (Hold).