Bel Fuse BELFB shares soared 12% in the last trading session to close at $17.58. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 1.3% loss over the past four weeks.
BelFuse is benefiting from strong demand for its solutions like circuit protection from distribution partners and networking customers.
This maker of electronic products for circuits is expected to post quarterly earnings of $0.38 per share in its upcoming report, which represents a year-over-year change of -40.6%. Revenues are expected to be $140 million, up 0.9% 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 Bel Fuse, 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 BELFB 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 >>>>
Bel Fuse belongs to the Zacks Electronics - Miscellaneous Products industry. Another stock from the same industry, Universal Electronics UEIC, closed the last trading session 0.2% lower at $25.68. Over the past month, UEIC has returned -6.4%.
For Universal Electronics , the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.54. This represents a change of -44.9% from what the company reported a year ago. Universal Electronics currently has a Zacks Rank of #3 (Hold).
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