KVH (KVHI) Soars 5.2%: Is Further Upside Left in the Stock?
KVH Industries (KVHI) shares rallied 5.2% in the last trading session to close at $8.72. 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 11.8% loss over the past four weeks.
Shares of KVH Industries gained on increased investor optimism as the company continues to strategically implement its priorities. KVH’s VSAT product line is being driven by new AgilePlans subscriptions and TracPhone V30. The company has added network capacity for its expanding mini-VSAT Broadband HTS subscriber base. In the inertial navigation segment, KVH is benefiting from design wins in the autonomous trucking market with its photonic chip-based IMUs.
This maker of mobile communication and navigation equipment is expected to post quarterly loss of $0.10 per share in its upcoming report, which represents a year-over-year change of -242.9%. Revenues are expected to be $41.9 million, down 5.1% 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 KVH, 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 KVHI 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 >>>>
KVH is part of the Zacks Communication - Components industry. Turtle Beach (HEAR), another stock in the same industry, closed the last trading session 4.1% higher at $22.49. HEAR has returned 0.8% in the past month.
For Turtle Beach , the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.26. This represents a change of -69.1% from what the company reported a year ago. Turtle Beach currently has a Zacks Rank of #5 (Strong Sell).
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