Atlanticus Holdings Corporation (ATLC) Moves 5.7% Higher: Will This Strength Last?
Atlanticus Holdings Corporation (ATLC) shares ended the last trading session 5.7% higher at $42.97. 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 41% gain over the past four weeks.
Shares of Atlanticus Holdings rallied for the fourth consecutive trading day and close at a 52-week high. Investors seem to be bullish on this consumer loan provider as the Federal Reserve paused the rate hikes. This is expected to result in a rise in loan demand. This drove the ATLC stock higher.
This company is expected to post quarterly earnings of $1.16 per share in its upcoming report, which represents a year-over-year change of -20.6%. Revenues are expected to be $289.67 million, up 7.4% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Atlanticus Holdings Corporation, 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 ATLC 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 >>>>
Atlanticus Holdings Corporation is part of the Zacks Financial - Miscellaneous Services industry. Lufax Holding Ltd. Sponsored ADR (LU), another stock in the same industry, closed the last trading session 1.2% higher at $1.68. LU has returned -8.8% in the past month.
Lufax Holding Ltd. Sponsored ADR's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.05. Compared to the company's year-ago EPS, this represents a change of -72.2%. Lufax Holding Ltd. Sponsored ADR currently boasts a Zacks Rank of #3 (Hold).
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