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Hertz Global (HTZ) Moves 56.4% Higher: Will This Strength Last?
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Hertz Global Holdings, Inc. (HTZ - Free Report) shares rallied 56.4% in the last trading session to close at $5.71. 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 4.9% gain over the past four weeks.
The uptick followed an update that Bill Ackman’s Pershing Square has taken a sizeable stake in the rental-car company.
This company is expected to post quarterly loss of $1.08 per share in its upcoming report, which represents a year-over-year change of +15.6%. Revenues are expected to be $2.03 billion, down 2.6% 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 Hertz Global, 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 HTZ going forward to see if this recent jump can turn into more strength down the road.
Hertz Global is part of the Zacks Transportation - Services industry. Grupo Aeroportuario del Centro Norte (OMAB - Free Report) , another stock in the same industry, closed the last trading session 0.9% higher at $80.93. OMAB has returned -0.8% in the past month.
Grupo Aeroportuario del Centro Norte's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1.23. Compared to the company's year-ago EPS, this represents a change of -0.8%. Grupo Aeroportuario del Centro Norte currently boasts a Zacks Rank of #2 (Buy).
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Hertz Global (HTZ) Moves 56.4% Higher: Will This Strength Last?
Hertz Global Holdings, Inc. (HTZ - Free Report) shares rallied 56.4% in the last trading session to close at $5.71. 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 4.9% gain over the past four weeks.
The uptick followed an update that Bill Ackman’s Pershing Square has taken a sizeable stake in the rental-car company.
This company is expected to post quarterly loss of $1.08 per share in its upcoming report, which represents a year-over-year change of +15.6%. Revenues are expected to be $2.03 billion, down 2.6% 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 Hertz Global, 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 HTZ 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 >>>>
Hertz Global is part of the Zacks Transportation - Services industry. Grupo Aeroportuario del Centro Norte (OMAB - Free Report) , another stock in the same industry, closed the last trading session 0.9% higher at $80.93. OMAB has returned -0.8% in the past month.
Grupo Aeroportuario del Centro Norte's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1.23. Compared to the company's year-ago EPS, this represents a change of -0.8%. Grupo Aeroportuario del Centro Norte currently boasts a Zacks Rank of #2 (Buy).