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Investcorp (ICMB) shares rallied 5.6% in the last trading session to close at $6.05. 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 10.4% gain over the past four weeks.
ICMB scored a second consecutive day of price increase following the news of the company raising $1 billion for its first private equity fund focused on North American assets.
Price and Consensus
This specialty finance company is expected to post quarterly earnings of $0.21 per share in its upcoming report, which represents a year-over-year change of -16%. Revenues are expected to be $6.78 million, down 23.2% 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 Investcorp, the consensus EPS estimate for the quarter has been revised 5% 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 ICMB 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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Investcorp Credit Management BDC, Inc. (ICMB) : Free Stock Analysis Report
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