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Constellium (CSTM) Stock Jumps 8.6%: Will It Continue to Soar?

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Constellium (CSTM) shares rallied 8.6% in the last trading session to close at $16.75. 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 10.3% gain over the past four weeks.

This marks the fifth consecutive day of Constellium’s price increase since it announced that it is working with NASA on its Artemis program, which is aims to putthe first woman and next man on Moon by 2024. The company contributes to NASA’s Space Launch System rocket and Orion spacecraft, which are meant for missions that will send humans farther into space than ever before. Both programs utilize Constellium’s most innovative aluminum-lithium alloy solutions, Airware, manufactured in Ravenswood, WV.

Price and Consensus

Price Consensus Chart for Constellium
Price Consensus Chart for Constellium

This aluminum company is expected to post quarterly earnings of $0.09 per share in its upcoming report, which represents a year-over-year change of -52.6%. Revenues are expected to be $1.52 billion, down 4.1% 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 Constellium, the consensus EPS estimate for the quarter has been revised 20% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on CSTM 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 >>>>

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