Voya Financial (VOYA) Q3 Earnings and Revenues Top Estimates


Eneti (NETI) shares soared 6.2% in the last trading session to close at $8.73. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock’s 20.5% gain over the past four weeks.

The buoyancy is owing to the overall optimism surrounding the shipping industry. In fact, shares of NETI  have gained 6.6% in a year’s time.

This dry bulk ocean shipper is expected to post quarterly earnings of $0.67 per share in its upcoming report, which represents a year-over-year change of +219.6%. Revenues are expected to be $63.79 million, up 85.7% 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 Eneti, 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 NETI 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 >>>>

Eneti is a member of the Zacks Transportation – Shipping industry. One other stock in the same industry, Navigator Holdings (NVGS), finished the last trading session 1.3% higher at $12.71. NVGS has returned 8.5% over the past month.

Navigator Holdings’ consensus EPS estimate for the upcoming report has changed +13% over the past month to $0.16. Compared to the company’s year-ago EPS, this represents a change of +60%. Navigator Holdings currently boasts a Zacks Rank of #2 (Buy).

Zacks Names “Single Best Pick to Double”

From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.

It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.

This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.

Free: See Our Top Stock and 4 Runners Up >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Eneti Inc. (NETI): Free Stock Analysis Report
Navigator Holdings Ltd. (NVGS): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


Image and article originally from www.nasdaq.com. Read the original article here.

By Zacks