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ING (ING) Surges 8.6%: Is This an Indication of Further Gains?
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ING Groep (ING - Free Report) shares ended the last trading session 8.6% higher at $18.05. 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 16.4% loss over the past four weeks.
The increased investor optimism in the stock can be attributed to President Donald Trump’s recent announcement to put a 90-day pause on the reciprocal tariff for most countries.
This financial services provider is expected to post quarterly earnings of $0.46 per share in its upcoming report, which represents a year-over-year change of -11.5%. Revenues are expected to be $5.66 billion, down 6.7% 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 ING, 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 ING going forward to see if this recent jump can turn into more strength down the road.
ING belongs to the Zacks Banks - Foreign industry. Another stock from the same industry, Bancolombia (CIB - Free Report) , closed the last trading session 8% higher at $38.98. Over the past month, CIB has returned -12.7%.
Bancolombia's consensus EPS estimate for the upcoming report has changed -1% over the past month to $1.62. Compared to the company's year-ago EPS, this represents a change of -10%. Bancolombia currently boasts a Zacks Rank of #3 (Hold).
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ING (ING) Surges 8.6%: Is This an Indication of Further Gains?
ING Groep (ING - Free Report) shares ended the last trading session 8.6% higher at $18.05. 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 16.4% loss over the past four weeks.
The increased investor optimism in the stock can be attributed to President Donald Trump’s recent announcement to put a 90-day pause on the reciprocal tariff for most countries.
This financial services provider is expected to post quarterly earnings of $0.46 per share in its upcoming report, which represents a year-over-year change of -11.5%. Revenues are expected to be $5.66 billion, down 6.7% 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 ING, 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 ING 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 >>>>
ING belongs to the Zacks Banks - Foreign industry. Another stock from the same industry, Bancolombia (CIB - Free Report) , closed the last trading session 8% higher at $38.98. Over the past month, CIB has returned -12.7%.
Bancolombia's consensus EPS estimate for the upcoming report has changed -1% over the past month to $1.62. Compared to the company's year-ago EPS, this represents a change of -10%. Bancolombia currently boasts a Zacks Rank of #3 (Hold).