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Strength Seen in Brainsway (BWAY): Can Its 9.3% Jump Turn into More Strength?
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Brainsway Ltd. Sponsored ADR (BWAY - Free Report) shares rallied 9.3% in the last trading session to close at $7.28. 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 6.6% gain over the past four weeks.
Shares of Brainsway has been rising for the past three months on the back of its solid first-quarter performance. The recent price rise is likely due to positive sentiments of investors that is likely to continue as the company is about to report its second-quarter earnings in the coming month.
This company is expected to post break-even quarterly earnings per share in its upcoming report, which represents a year-over-year change of +100%. Revenues are expected to be $9.4 million, up 20.1% 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 Brainsway, 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 BWAY going forward to see if this recent jump can turn into more strength down the road.
Brainsway belongs to the Zacks Medical - Products industry. Another stock from the same industry, ICU Medical (ICUI - Free Report) , closed the last trading session 0.3% lower at $125.86. Over the past month, ICUI has returned 10%.
For ICU Medical, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.98. This represents a change of -47.9% from what the company reported a year ago. ICU Medical currently has a Zacks Rank of #3 (Hold).
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Strength Seen in Brainsway (BWAY): Can Its 9.3% Jump Turn into More Strength?
Brainsway Ltd. Sponsored ADR (BWAY - Free Report) shares rallied 9.3% in the last trading session to close at $7.28. 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 6.6% gain over the past four weeks.
Shares of Brainsway has been rising for the past three months on the back of its solid first-quarter performance. The recent price rise is likely due to positive sentiments of investors that is likely to continue as the company is about to report its second-quarter earnings in the coming month.
This company is expected to post break-even quarterly earnings per share in its upcoming report, which represents a year-over-year change of +100%. Revenues are expected to be $9.4 million, up 20.1% 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 Brainsway, 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 BWAY 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 >>>>
Brainsway belongs to the Zacks Medical - Products industry. Another stock from the same industry, ICU Medical (ICUI - Free Report) , closed the last trading session 0.3% lower at $125.86. Over the past month, ICUI has returned 10%.
For ICU Medical, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.98. This represents a change of -47.9% from what the company reported a year ago. ICU Medical currently has a Zacks Rank of #3 (Hold).