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Strength Seen in National Vision (EYE): Can Its 7.2% Jump Turn into More Strength?
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National Vision (EYE - Free Report) shares rallied 7.2% in the last trading session to close at $12.99. 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 15.2% loss over the past four weeks.
The stock scored a strong price increase on investors’ optimism surrounding National Vision’s appointment of Mark Banner as the company’s new Chief Stores Officer, effective July 8, 2024. The company expects Mark’s presence to strongly contribute to National Vision’s store performance going forward.
This discount optical retailer and eye care provider is expected to post quarterly earnings of $0.04 per share in its upcoming report, which represents a year-over-year change of -76.5%. Revenues are expected to be $468.01 million, down 10.9% 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 National Vision, 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 EYE going forward to see if this recent jump can turn into more strength down the road.
National Vision belongs to the Zacks Medical - Products industry. Another stock from the same industry, QuidelOrtho (QDEL - Free Report) , closed the last trading session 5.1% higher at $31.48. Over the past month, QDEL has returned -25%.
For QuidelOrtho, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.21. This represents a change of -180.8% from what the company reported a year ago. QuidelOrtho currently has a Zacks Rank of #5 (Strong Sell).
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Strength Seen in National Vision (EYE): Can Its 7.2% Jump Turn into More Strength?
National Vision (EYE - Free Report) shares rallied 7.2% in the last trading session to close at $12.99. 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 15.2% loss over the past four weeks.
The stock scored a strong price increase on investors’ optimism surrounding National Vision’s appointment of Mark Banner as the company’s new Chief Stores Officer, effective July 8, 2024. The company expects Mark’s presence to strongly contribute to National Vision’s store performance going forward.
This discount optical retailer and eye care provider is expected to post quarterly earnings of $0.04 per share in its upcoming report, which represents a year-over-year change of -76.5%. Revenues are expected to be $468.01 million, down 10.9% 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 National Vision, 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 EYE 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 >>>>
National Vision belongs to the Zacks Medical - Products industry. Another stock from the same industry, QuidelOrtho (QDEL - Free Report) , closed the last trading session 5.1% higher at $31.48. Over the past month, QDEL has returned -25%.
For QuidelOrtho, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.21. This represents a change of -180.8% from what the company reported a year ago. QuidelOrtho currently has a Zacks Rank of #5 (Strong Sell).