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Freightcar America (RAIL) Surges 10.8%: Is This an Indication of Further Gains?
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Freightcar America (RAIL - Free Report) shares rallied 10.8% in the last trading session to close at $9.47. 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 105% gain over the past four weeks.
The company has performed very well on the bourse this year. Shares have surged 251% year to date. Higher railcar deliveries are boosting the company's top line, which increased 66% year over year in second-quarter 2024. RAIL's focus on increasing production efficiency is commendable. Efforts to bring down debt levels are also praiseworthy. Diven by the buoyant scenario, RAIL expects current-year revenues between $560 and $600 million (mid-point of the range indicates a 62% year over year growth) with railcar deliveries in the 4,300-4,700 range.
This rail car maker is expected to post quarterly earnings of $0.08 per share in its upcoming report, which represents a year-over-year change of +157.1%. Revenues are expected to be $137.83 million, up 122.7% 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 Freightcar America, the consensus EPS estimate for the quarter has been revised 14.3% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on RAIL going forward to see if this recent jump can turn into more strength down the road.
Freightcar America is a member of the Zacks Transportation - Equipment and Leasing industry. One other stock in the same industry, Ryder (R - Free Report) , finished the last trading session 0.5% higher at $132.63. R has returned -2.2% over the past month.
Ryder's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $3.44. Compared to the company's year-ago EPS, this represents a change of -3.9%. Ryder currently boasts a Zacks Rank of #3 (Hold).
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Freightcar America (RAIL) Surges 10.8%: Is This an Indication of Further Gains?
Freightcar America (RAIL - Free Report) shares rallied 10.8% in the last trading session to close at $9.47. 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 105% gain over the past four weeks.
The company has performed very well on the bourse this year. Shares have surged 251% year to date. Higher railcar deliveries are boosting the company's top line, which increased 66% year over year in second-quarter 2024. RAIL's focus on increasing production efficiency is commendable. Efforts to bring down debt levels are also praiseworthy. Diven by the buoyant scenario, RAIL expects current-year revenues between $560 and $600 million (mid-point of the range indicates a 62% year over year growth) with railcar deliveries in the 4,300-4,700 range.
This rail car maker is expected to post quarterly earnings of $0.08 per share in its upcoming report, which represents a year-over-year change of +157.1%. Revenues are expected to be $137.83 million, up 122.7% 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 Freightcar America, the consensus EPS estimate for the quarter has been revised 14.3% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on RAIL going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Freightcar America is a member of the Zacks Transportation - Equipment and Leasing industry. One other stock in the same industry, Ryder (R - Free Report) , finished the last trading session 0.5% higher at $132.63. R has returned -2.2% over the past month.
Ryder's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $3.44. Compared to the company's year-ago EPS, this represents a change of -3.9%. Ryder currently boasts a Zacks Rank of #3 (Hold).