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Flexible Solutions Stock Surges 50% in 3 Months: Here's Why
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Flexible Solutions International Inc.’s (FSI - Free Report) shares have appreciated 49.8% in the past three months. The company also outperformed the industry’s and the S&P 500’s growth of 6.7% and 5.9%, respectively, in the same period.
Image Source: Zacks Investment Research
Let’s take a look at the factors that might have driven the stock’s price appreciation.
What’s Driving Flexible Solutions Stock?
FSI is optimistic about sustaining its strong second-quarter performance throughout 2024. The company is well-positioned to seize emerging opportunities across various applications, including detergents, food, nutraceuticals, oil field extraction, turf management, ornamental products and agriculture. These opportunities are expected to drive further growth in the NanoChem division and the Enhanced Nutritional Products (ENP) subsidiary.
With the NanoChem division accounting for approximately 70% of FSI’s revenues, it is particularly poised for expansion. The division is supported by a robust pipeline of five products nearing purchase orders, with expectations of securing at least two orders this year. Additionally, the company anticipates revenue growth from its ENP line later in the year.
Flexible Solutions believes its cash resources are sufficient to meet cash flow needs and future commitments, supporting its ongoing operations and growth initiatives.
In the second quarter of 2024, FSI reported earnings per share (EPS) of 10 cents, exceeding the Zacks Consensus Estimate of 7 cents. The company also posted net sales of nearly $10.5 million, up 1.9% year over year, surpassing the Zacks Consensus Estimate of $10.3 million. The Zacks Consensus Estimate for 2024 EPS is set at 29 cents, indicating a 31.8% increase from the previous year’s level.
Flexible Solutions International Inc. Price and Consensus
The Zacks Consensus Estimate for Newmont’s current-year earnings is pegged at $2.82, indicating a rise of 75% from the year-ago level. The consensus mark for NEM’s earnings has increased 14% in the past 60 days.The stock has gained nearly 33.4% in the past year.
The Zacks Consensus Estimate for CRS’s current-year earnings is pegged at $6.06, indicating a rise of 27.9% from the year-ago level. CRS’s earnings beat the consensus estimate in each of the last four quarters, with the average surprise being 15.9%. The stock has rallied nearly 134.1% in the past year.
The Zacks Consensus Estimate for Eldorado Gold’s current year earnings is pegged at $1.35 per share, indicating a year-over-year rise of 136.8%. EGO beat the consensus estimate in each of the last four quarters, with the average earnings surprise being 430.3%. The company's shares have risen nearly 87.3% in the past year.
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Flexible Solutions Stock Surges 50% in 3 Months: Here's Why
Flexible Solutions International Inc.’s (FSI - Free Report) shares have appreciated 49.8% in the past three months. The company also outperformed the industry’s and the S&P 500’s growth of 6.7% and 5.9%, respectively, in the same period.
Image Source: Zacks Investment Research
Let’s take a look at the factors that might have driven the stock’s price appreciation.
What’s Driving Flexible Solutions Stock?
FSI is optimistic about sustaining its strong second-quarter performance throughout 2024. The company is well-positioned to seize emerging opportunities across various applications, including detergents, food, nutraceuticals, oil field extraction, turf management, ornamental products and agriculture. These opportunities are expected to drive further growth in the NanoChem division and the Enhanced Nutritional Products (ENP) subsidiary.
With the NanoChem division accounting for approximately 70% of FSI’s revenues, it is particularly poised for expansion. The division is supported by a robust pipeline of five products nearing purchase orders, with expectations of securing at least two orders this year. Additionally, the company anticipates revenue growth from its ENP line later in the year.
Flexible Solutions believes its cash resources are sufficient to meet cash flow needs and future commitments, supporting its ongoing operations and growth initiatives.
In the second quarter of 2024, FSI reported earnings per share (EPS) of 10 cents, exceeding the Zacks Consensus Estimate of 7 cents. The company also posted net sales of nearly $10.5 million, up 1.9% year over year, surpassing the Zacks Consensus Estimate of $10.3 million. The Zacks Consensus Estimate for 2024 EPS is set at 29 cents, indicating a 31.8% increase from the previous year’s level.
Flexible Solutions International Inc. Price and Consensus
Flexible Solutions International Inc. price-consensus-chart | Flexible Solutions International Inc. Quote
Zacks Rank & Key Picks
FSI currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the Basic Materials space are Newmont Corporation (NEM - Free Report) , Carpenter Technology Corporation (CRS - Free Report) and Eldorado Gold Corporation (EGO - Free Report) , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Newmont’s current-year earnings is pegged at $2.82, indicating a rise of 75% from the year-ago level. The consensus mark for NEM’s earnings has increased 14% in the past 60 days.The stock has gained nearly 33.4% in the past year.
The Zacks Consensus Estimate for CRS’s current-year earnings is pegged at $6.06, indicating a rise of 27.9% from the year-ago level. CRS’s earnings beat the consensus estimate in each of the last four quarters, with the average surprise being 15.9%. The stock has rallied nearly 134.1% in the past year.
The Zacks Consensus Estimate for Eldorado Gold’s current year earnings is pegged at $1.35 per share, indicating a year-over-year rise of 136.8%. EGO beat the consensus estimate in each of the last four quarters, with the average earnings surprise being 430.3%. The company's shares have risen nearly 87.3% in the past year.