DigitalBridge Group (DBRG) Soars 6.4%: Is Further Upside Left in the Stock?
DigitalBridge DBRG shares rallied 6.4% in the last trading session to close at $19.38. 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 0.3% loss over the past four weeks.
The increased investor optimism in the stock can be attributed to the favorable operating environment.
This provider of asset management services to NorthStar Realty Finance Corp. Is expected to post quarterly earnings of $0.12 per share in its upcoming report, which represents a year-over-year change of +700%. Revenues are expected to be $98.75 million, down 60.5% 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 DigitalBridge Group, the consensus EPS estimate for the quarter has been revised 1550% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on DBRG 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 >>>>
DigitalBridge Group belongs to the Zacks REIT and Equity Trust industry. Another stock from the same industry, Blackstone Mortgage Trust BXMT, closed the last trading session 0.8% higher at $20.30. Over the past month, BXMT has returned 3.1%.
Blackstone Mortgage's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.53. Compared to the company's year-ago EPS, this represents a change of -32.9%. Blackstone Mortgage currently boasts a Zacks Rank of #4 (Sell).
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DigitalBridge Group, Inc. (DBRG) : Free Stock Analysis Report
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