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Why Nexxen International Ltd. Sponsored ADR (NEXN) Might be Well Poised for a Surge
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Investors might want to bet on Nexxen International Ltd. Sponsored ADR (NEXN - Free Report) , as earnings estimates for this company have been showing solid improvement lately. The stock has already gained solid short-term price momentum, and this trend might continue with its still improving earnings outlook.
The rising trend in estimate revisions, which is a result of growing analyst optimism on the earnings prospects of this company, should get reflected in its stock price. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements. Our stock rating tool -- the Zacks Rank -- is principally built on this insight.
The five-grade Zacks Rank system, which ranges from a Zacks Rank #1 (Strong Buy) to a Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record of outperformance, with Zacks #1 Ranked stocks generating an average annual return of +25% since 2008.
For Nexxen International Ltd. Sponsored ADR, there has been strong agreement among the covering analysts in raising earnings estimates, which has helped push consensus estimates considerably higher for the next quarter and full year.
Current-Quarter Estimate Revisions
The earnings estimate of $0.16 per share for the current quarter represents a change of +77.78% from the number reported a year ago.
Over the last 30 days, the Zacks Consensus Estimate for Nexxen International Ltd. Sponsored ADR has increased 50% because one estimate has moved higher while one has gone lower.
Current-Year Estimate Revisions
The company is expected to earn $0.72 per share for the full year, which represents a change of +227.27% from the prior-year number.
In terms of estimate revisions, the trend for the current year also appears quite encouraging for Nexxen International Ltd. Sponsored ADR. Over the past month, two estimates have moved higher compared to no negative revisions, helping the consensus estimate increase 68.18%.
Favorable Zacks Rank
The promising estimate revisions have helped Nexxen International Ltd. Sponsored ADR earn a Zacks Rank #2 (Buy). The Zacks Rank is a tried-and-tested rating tool that helps investors effectively harness the power of earnings estimate revisions and make the right investment decision. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Our research shows that stocks with Zacks Rank #1 (Strong Buy) and 2 (Buy) significantly outperform the S&P 500.
Bottom Line
Investors have been betting on Nexxen International Ltd. Sponsored ADR because of its solid estimate revisions, as evident from the stock's 17.4% gain over the past four weeks. As its earnings growth prospects might push the stock higher, you may consider adding it to your portfolio right away.
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Why Nexxen International Ltd. Sponsored ADR (NEXN) Might be Well Poised for a Surge
Investors might want to bet on Nexxen International Ltd. Sponsored ADR (NEXN - Free Report) , as earnings estimates for this company have been showing solid improvement lately. The stock has already gained solid short-term price momentum, and this trend might continue with its still improving earnings outlook.
The rising trend in estimate revisions, which is a result of growing analyst optimism on the earnings prospects of this company, should get reflected in its stock price. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements. Our stock rating tool -- the Zacks Rank -- is principally built on this insight.
The five-grade Zacks Rank system, which ranges from a Zacks Rank #1 (Strong Buy) to a Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record of outperformance, with Zacks #1 Ranked stocks generating an average annual return of +25% since 2008.
For Nexxen International Ltd. Sponsored ADR, there has been strong agreement among the covering analysts in raising earnings estimates, which has helped push consensus estimates considerably higher for the next quarter and full year.
Current-Quarter Estimate Revisions
The earnings estimate of $0.16 per share for the current quarter represents a change of +77.78% from the number reported a year ago.
Over the last 30 days, the Zacks Consensus Estimate for Nexxen International Ltd. Sponsored ADR has increased 50% because one estimate has moved higher while one has gone lower.
Current-Year Estimate Revisions
The company is expected to earn $0.72 per share for the full year, which represents a change of +227.27% from the prior-year number.
In terms of estimate revisions, the trend for the current year also appears quite encouraging for Nexxen International Ltd. Sponsored ADR. Over the past month, two estimates have moved higher compared to no negative revisions, helping the consensus estimate increase 68.18%.
Favorable Zacks Rank
The promising estimate revisions have helped Nexxen International Ltd. Sponsored ADR earn a Zacks Rank #2 (Buy). The Zacks Rank is a tried-and-tested rating tool that helps investors effectively harness the power of earnings estimate revisions and make the right investment decision. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Our research shows that stocks with Zacks Rank #1 (Strong Buy) and 2 (Buy) significantly outperform the S&P 500.
Bottom Line
Investors have been betting on Nexxen International Ltd. Sponsored ADR because of its solid estimate revisions, as evident from the stock's 17.4% gain over the past four weeks. As its earnings growth prospects might push the stock higher, you may consider adding it to your portfolio right away.