Rockwell Medical (RMTI) Stock Moves -1.18%: What You Should Know
Rockwell Medical (RMTI) closed at $1.68 in the latest trading session, marking a -1.18% move from the prior day. This move was narrower than the S&P 500's daily loss of 1.26%. Elsewhere, the Dow lost 0.86%, while the tech-heavy Nasdaq lost 1.54%.
Shares of the maker of products used in the treatment of kidney disease and anemia witnessed a loss of 11.46% over the previous month, trailing the performance of the Medical sector with its loss of 4.83% and the S&P 500's loss of 3.67%.
The investment community will be closely monitoring the performance of Rockwell Medical in its forthcoming earnings report. The company is scheduled to release its earnings on November 14, 2023. It is anticipated that the company will report an EPS of -$0.12, marking a 70% rise compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $23.67 million, up 26.65% from the prior-year quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$0.43 per share and a revenue of $86.08 million, signifying shifts of +77.25% and +18.23%, respectively, from the last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Rockwell Medical. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Right now, Rockwell Medical possesses a Zacks Rank of #3 (Hold).
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 143, putting it in the bottom 44% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Rockwell Medical, Inc. (RMTI) : Free Stock Analysis Report
