Hudson Technologies (HDSN) Dips More Than Broader Markets: What You Should Know
Hudson Technologies (HDSN) closed at $10.39 in the latest trading session, marking a -0.76% move from the prior day. This move lagged the S&P 500's daily loss of 0.03%. At the same time, the Dow lost 0.46%, and the tech-heavy Nasdaq gained 3.16%.
Coming into today, shares of the refrigerant services company had lost 4.64% in the past month. In that same time, the Industrial Products sector gained 0.76%, while the S&P 500 gained 3.6%.
Hudson Technologies will be looking to display strength as it nears its next earnings release. On that day, Hudson Technologies is projected to report earnings of $0.06 per share, which would represent a year-over-year decline of 53.85%. Meanwhile, our latest consensus estimate is calling for revenue of $34 million, down 10.01% from the prior-year quarter.
Investors might also notice recent changes to analyst estimates for Hudson Technologies. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Hudson Technologies is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Hudson Technologies is currently trading at a Forward P/E ratio of 6.93. For comparison, its industry has an average Forward P/E of 14.31, which means Hudson Technologies is trading at a discount to the group.
Also, we should mention that HDSN has a PEG ratio of 0.23. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. HDSN's industry had an average PEG ratio of 0.88 as of yesterday's close.
The Industrial Services industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 77, which puts it in the top 31% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow HDSN in the coming trading sessions, be sure to utilize Zacks.com.
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Hudson Technologies, Inc. (HDSN) : Free Stock Analysis Report
