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Strength Seen in Embecta Corp. (EMBC): Can Its 6.9% Jump Turn into More Strength?
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Embecta Corp. (EMBC - Free Report) shares ended the last trading session 6.9% higher at $16.22. 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 21.3% gain over the past four weeks.
Embecta Corp. scored a strong price increase, on investors’ optimism surrounding its impending fiscal 2024 third-quarter financial results, which is slated to release on Aug 9 before the opening bell. In the last reported quarter, the company’s performance reflected a robust base business strength and a strong operational execution by its global team. Furthermore, it also completed the implementation of the enterprise resource planning ("ERP") system, comprising nearly 85% of Embecta's revenue base, including all three of its manufacturing plants.
This company is expected to post quarterly earnings of $0.48 per share in its upcoming report, which represents a year-over-year change of -30.4%. Revenues are expected to be $270.51 million, down 5.5% 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 Embecta Corp., the consensus EPS estimate for the quarter has been revised 2.7% 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 EMBC going forward to see if this recent jump can turn into more strength down the road.
Embecta Corp. is part of the Zacks Medical Services industry. Cencora (COR - Free Report) , another stock in the same industry, closed the last trading session 0.2% lower at $224.26. COR has returned -6.1% in the past month.
Cencora's consensus EPS estimate for the upcoming report has changed -0.7% over the past month to $3.18. Compared to the company's year-ago EPS, this represents a change of +8.9%. Cencora currently boasts a Zacks Rank of #3 (Hold).
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Strength Seen in Embecta Corp. (EMBC): Can Its 6.9% Jump Turn into More Strength?
Embecta Corp. (EMBC - Free Report) shares ended the last trading session 6.9% higher at $16.22. 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 21.3% gain over the past four weeks.
Embecta Corp. scored a strong price increase, on investors’ optimism surrounding its impending fiscal 2024 third-quarter financial results, which is slated to release on Aug 9 before the opening bell. In the last reported quarter, the company’s performance reflected a robust base business strength and a strong operational execution by its global team. Furthermore, it also completed the implementation of the enterprise resource planning ("ERP") system, comprising nearly 85% of Embecta's revenue base, including all three of its manufacturing plants.
This company is expected to post quarterly earnings of $0.48 per share in its upcoming report, which represents a year-over-year change of -30.4%. Revenues are expected to be $270.51 million, down 5.5% 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 Embecta Corp., the consensus EPS estimate for the quarter has been revised 2.7% 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 EMBC 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 >>>>
Embecta Corp. is part of the Zacks Medical Services industry. Cencora (COR - Free Report) , another stock in the same industry, closed the last trading session 0.2% lower at $224.26. COR has returned -6.1% in the past month.
Cencora's consensus EPS estimate for the upcoming report has changed -0.7% over the past month to $3.18. Compared to the company's year-ago EPS, this represents a change of +8.9%. Cencora currently boasts a Zacks Rank of #3 (Hold).