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Strength Seen in Mativ Holdings (MATV): Can Its 5.7% Jump Turn into More Strength?
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Mativ Holdings (MATV - Free Report) shares ended the last trading session 5.7% higher at $16.85. 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 5.9% loss over the past four weeks.
MATV’s gain appears to reflect the optimism over a recovery in its volumes on the back of a demand rebound in many of its end markets. The company is benefiting from a demand recovery after facing challenges from customer destocking and economic uncertainties during 2023. Recovering volumes coupled with actions to increase prices and reduce costs are driving margin improvement.
This paper and reconstituted tobacco company is expected to post quarterly earnings of $0.21 per share in its upcoming report, which represents a year-over-year change of -58.8%. Revenues are expected to be $526.5 million, down 21.2% 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 Mativ 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 MATV going forward to see if this recent jump can turn into more strength down the road.
Mativ Holdings is part of the Zacks Chemical - Specialty industry. Valvoline (VVV - Free Report) , another stock in the same industry, closed the last trading session 3.8% higher at $47.60. VVV has returned 9.2% in the past month.
For Valvoline, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.49. This represents a change of +14% from what the company reported a year ago. Valvoline currently has a Zacks Rank of #3 (Hold).
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Strength Seen in Mativ Holdings (MATV): Can Its 5.7% Jump Turn into More Strength?
Mativ Holdings (MATV - Free Report) shares ended the last trading session 5.7% higher at $16.85. 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 5.9% loss over the past four weeks.
MATV’s gain appears to reflect the optimism over a recovery in its volumes on the back of a demand rebound in many of its end markets. The company is benefiting from a demand recovery after facing challenges from customer destocking and economic uncertainties during 2023. Recovering volumes coupled with actions to increase prices and reduce costs are driving margin improvement.
This paper and reconstituted tobacco company is expected to post quarterly earnings of $0.21 per share in its upcoming report, which represents a year-over-year change of -58.8%. Revenues are expected to be $526.5 million, down 21.2% 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 Mativ 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 MATV 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 >>>>
Mativ Holdings is part of the Zacks Chemical - Specialty industry. Valvoline (VVV - Free Report) , another stock in the same industry, closed the last trading session 3.8% higher at $47.60. VVV has returned 9.2% in the past month.
For Valvoline, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.49. This represents a change of +14% from what the company reported a year ago. Valvoline currently has a Zacks Rank of #3 (Hold).