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Abacus Life, Inc. (ABL) Stock Jumps 20.3%: Will It Continue to Soar?
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Abacus Life, Inc. (ABL - Free Report) shares rallied 20.3% in the last trading session to close at $10.08. 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 14.1% loss over the past four weeks.
Abacus Life recently announced its second quarter preliminary results where it expects to generate top line between $28-$30 million, much higher than the year ago figure of $11 million. It also expects to deliver adjusted EBITDA between $15-$17 million and net income between $0-$1 million.
Also, $90 million of net proceeds from public offering should help it pursuing growth opportunities.
This leading buyer of life insurance policies and vertically integrated alternative asset manager specializing in specialty insurance products, has agreed to buy Carlisle Management Company. While this buyout should accelerates Abacus' expansion as a global alternative asset manager and origination company, the deal adds up to $2 billion in asset under management to Abacus.
Growing direct-to-consumer distribution and shifting away from higher-cost intermediaries, institutional scale, and proprietary longevity dataset bodes well for growth. Abacus operates in a market that has meaningful growth potential and Abacus has a significant opportunity to increase market penetration.
This company is expected to post quarterly earnings of $0.12 per share in its upcoming report, which represents a year-over-year change of -7.7%. Revenues are expected to be $22.82 million, up 100.5% 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 Abacus Life, Inc., 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 ABL going forward to see if this recent jump can turn into more strength down the road.
Abacus Life, Inc. is part of the Zacks Insurance - Life Insurance industry. Brighthouse Financial (BHF - Free Report) , another stock in the same industry, closed the last trading session 1.4% lower at $47.68. BHF has returned 12.3% in the past month.
For Brighthouse Financial, the consensus EPS estimate for the upcoming report has changed +0.3% over the past month to $4.36. This represents a change of +5.6% from what the company reported a year ago. Brighthouse Financial currently has a Zacks Rank of #3 (Hold).
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Abacus Life, Inc. (ABL) Stock Jumps 20.3%: Will It Continue to Soar?
Abacus Life, Inc. (ABL - Free Report) shares rallied 20.3% in the last trading session to close at $10.08. 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 14.1% loss over the past four weeks.
Abacus Life recently announced its second quarter preliminary results where it expects to generate top line between $28-$30 million, much higher than the year ago figure of $11 million. It also expects to deliver adjusted EBITDA between $15-$17 million and net income between $0-$1 million.
Also, $90 million of net proceeds from public offering should help it pursuing growth opportunities.
This leading buyer of life insurance policies and vertically integrated alternative asset manager specializing in specialty insurance products, has agreed to buy Carlisle Management Company. While this buyout should accelerates Abacus' expansion as a global alternative asset manager and origination company, the deal adds up to $2 billion in asset under management to Abacus.
Growing direct-to-consumer distribution and shifting away from higher-cost intermediaries, institutional scale, and proprietary longevity dataset bodes well for growth. Abacus operates in a market that has meaningful growth potential and Abacus has a significant opportunity to increase market penetration.
This company is expected to post quarterly earnings of $0.12 per share in its upcoming report, which represents a year-over-year change of -7.7%. Revenues are expected to be $22.82 million, up 100.5% 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 Abacus Life, Inc., 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 ABL 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 >>>>
Abacus Life, Inc. is part of the Zacks Insurance - Life Insurance industry. Brighthouse Financial (BHF - Free Report) , another stock in the same industry, closed the last trading session 1.4% lower at $47.68. BHF has returned 12.3% in the past month.
For Brighthouse Financial, the consensus EPS estimate for the upcoming report has changed +0.3% over the past month to $4.36. This represents a change of +5.6% from what the company reported a year ago. Brighthouse Financial currently has a Zacks Rank of #3 (Hold).