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Tri Pointe (TPH) Moves 5.9% Higher: Will This Strength Last?
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Tri Pointe Homes (TPH - Free Report) shares ended the last trading session 5.9% higher at $44.41. 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 10.7% gain over the past four weeks.
The stock might have got a boost on the expectation of potential interest rate cut in September, per the CME FedWatch tool.
This home builder is expected to post quarterly earnings of $1.03 per share in its upcoming report, which represents a year-over-year change of +71.7%. Revenues are expected to be $1.05 billion, up 28.3% 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 Tri Pointe, 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 TPH going forward to see if this recent jump can turn into more strength down the road.
Tri Pointe is part of the Zacks Building Products - Home Builders industry. Dream Finders Homes Inc. (DFH - Free Report) , another stock in the same industry, closed the last trading session 8.6% higher at $30.58. DFH has returned 5.2% in the past month.
For Dream Finders Homes, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.77. This represents a change of +18.5% from what the company reported a year ago. Dream Finders Homes currently has a Zacks Rank of #3 (Hold).
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Tri Pointe (TPH) Moves 5.9% Higher: Will This Strength Last?
Tri Pointe Homes (TPH - Free Report) shares ended the last trading session 5.9% higher at $44.41. 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 10.7% gain over the past four weeks.
The stock might have got a boost on the expectation of potential interest rate cut in September, per the CME FedWatch tool.
This home builder is expected to post quarterly earnings of $1.03 per share in its upcoming report, which represents a year-over-year change of +71.7%. Revenues are expected to be $1.05 billion, up 28.3% 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 Tri Pointe, 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 TPH 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 >>>>
Tri Pointe is part of the Zacks Building Products - Home Builders industry. Dream Finders Homes Inc. (DFH - Free Report) , another stock in the same industry, closed the last trading session 8.6% higher at $30.58. DFH has returned 5.2% in the past month.
For Dream Finders Homes, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.77. This represents a change of +18.5% from what the company reported a year ago. Dream Finders Homes currently has a Zacks Rank of #3 (Hold).