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Zurn Elkay (ZWS) Soars 7.7%: Is Further Upside Left in the Stock? September 10, 2024
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Zurn Elkay Water Solutions Corporation (ZWS - Free Report) shares rallied 7.7% in the last trading session to close at $32. 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 2.1% loss over the past four weeks.
Zurn Elkay’s rally is primarily driven by optimism about the strong momentum in its water management business. Strength across the company’s commercial and institutional end markets, along with the growing popularity for water management solutions, bodes well.
This motion control and water management company is expected to post quarterly earnings of $0.32 per share in its upcoming report, which represents a year-over-year change of +10.3%. Revenues are expected to be $406.35 million, up 2% 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 Zurn Water, 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 ZWS going forward to see if this recent jump can turn into more strength down the road.
Zurn Water is part of the Zacks Manufacturing - Electronics industry. A.O. Smith (AOS - Free Report) , another stock in the same industry, closed the last trading session 1.3% higher at $77.89. AOS has returned -4.2% in the past month.
A.O. Smith's consensus EPS estimate for the upcoming report has changed -0.5% over the past month to $0.94. Compared to the company's year-ago EPS, this represents a change of +4.4%. A.O. Smith currently boasts a Zacks Rank of #3 (Hold).
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Zurn Elkay Water Solutions Corporation (ZWS - Free Report) shares rallied 7.7% in the last trading session to close at $32. 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 2.1% loss over the past four weeks.
Zurn Elkay’s rally is primarily driven by optimism about the strong momentum in its water management business. Strength across the company’s commercial and institutional end markets, along with the growing popularity for water management solutions, bodes well.
This motion control and water management company is expected to post quarterly earnings of $0.32 per share in its upcoming report, which represents a year-over-year change of +10.3%. Revenues are expected to be $406.35 million, up 2% 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 Zurn Water, 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 ZWS 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 >>>>
Zurn Water is part of the Zacks Manufacturing - Electronics industry. A.O. Smith (AOS - Free Report) , another stock in the same industry, closed the last trading session 1.3% higher at $77.89. AOS has returned -4.2% in the past month.
A.O. Smith's consensus EPS estimate for the upcoming report has changed -0.5% over the past month to $0.94. Compared to the company's year-ago EPS, this represents a change of +4.4%. A.O. Smith currently boasts a Zacks Rank of #3 (Hold).