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GFL Environmental (GFL) Soars 10.4%: Is Further Upside Left in the Stock?
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GFL Environmental Inc. (GFL - Free Report) shares soared 10.4% in the last trading session to close at $34.73. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 4% loss over the past four weeks.
The rise in GFL's stock price was fueled by reports indicating that the company might be attracting buyout interest from a group of private equity sponsors.
This company is expected to post quarterly earnings of $0.24 per share in its upcoming report, which represents a year-over-year change of -33.3%. Revenues are expected to be $1.51 billion, up 4.3% 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 GFL Environmental, the consensus EPS estimate for the quarter has been revised 14.1% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on GFL going forward to see if this recent jump can turn into more strength down the road.
GFL Environmental belongs to the Zacks Waste Removal Services industry. Another stock from the same industry, Radius Recycling (RDUS - Free Report) , closed the last trading session 1.4% lower at $16.87. Over the past month, RDUS has returned -4.2%.
Radius Recycling's consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$1.09. Compared to the company's year-ago EPS, this represents a change of -262.7%. Radius Recycling currently boasts a Zacks Rank of #3 (Hold).
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GFL Environmental (GFL) Soars 10.4%: Is Further Upside Left in the Stock?
GFL Environmental Inc. (GFL - Free Report) shares soared 10.4% in the last trading session to close at $34.73. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 4% loss over the past four weeks.
The rise in GFL's stock price was fueled by reports indicating that the company might be attracting buyout interest from a group of private equity sponsors.
This company is expected to post quarterly earnings of $0.24 per share in its upcoming report, which represents a year-over-year change of -33.3%. Revenues are expected to be $1.51 billion, up 4.3% 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 GFL Environmental, the consensus EPS estimate for the quarter has been revised 14.1% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on GFL 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 >>>>
GFL Environmental belongs to the Zacks Waste Removal Services industry. Another stock from the same industry, Radius Recycling (RDUS - Free Report) , closed the last trading session 1.4% lower at $16.87. Over the past month, RDUS has returned -4.2%.
Radius Recycling's consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$1.09. Compared to the company's year-ago EPS, this represents a change of -262.7%. Radius Recycling currently boasts a Zacks Rank of #3 (Hold).