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Strength Seen in Banco Santander-Chile (BSAC): Can Its 6.6% Jump Turn into More Strength?
Banco Santander-Chile (BSAC - Free Report) shares ended the last trading session 6.6% higher at $22.32. 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 5.3% loss over the past four weeks.
Banco Santander-Chile stock soared, driven by a massive jump in the broad markets. The jump was attributable to President Donald Trump’s announcement of a 90-day tariff pause for the non-retaliating nations. This cheered the investors, driving the BSAC stock higher.
This financial holding company is expected to post quarterly earnings of $0.51 per share in its upcoming report, which represents a year-over-year change of +96.2%. Revenues are expected to be $673.99 million, up 28.6% 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 Banco Santander-Chile, 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 BSAC 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 >>>>
Banco Santander-Chile is a member of the Zacks Banks - Foreign industry. One other stock in the same industry, Banco Bradesco (BBD - Free Report) , finished the last trading session 6.9% higher at $2.16. BBD has returned 1% over the past month.
For Banco Bradesco, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.08. This represents no change from what the company reported a year ago. Banco Bradesco currently has a Zacks Rank of #3 (Hold).