Rockwell Medical (RMTI) Suffers a Larger Drop Than the General Market: Key Insights
Rockwell Medical (RMTI) closed the latest trading day at $1.58, indicating a -1.25% change from the previous session's end. The stock fell short of the S&P 500, which registered a loss of 1.18% for the day. On the other hand, the Dow registered a loss of 0.76%, and the technology-centric Nasdaq decreased by 1.76%.
The maker of products used in the treatment of kidney disease and anemia's stock has dropped by 13.51% in the past month, falling short of the Medical sector's loss of 5.07% and the S&P 500's loss of 3.35%.
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. The company's upcoming EPS is projected at -$0.12, signifying a 70% increase compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $23.67 million, indicating a 26.65% upward movement from the same quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.43 per share and revenue of $86.08 million. These totals would mark changes of +77.25% and +18.23%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Rockwell Medical. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Rockwell Medical is currently a Zacks Rank #3 (Hold).
The Medical - Products industry is part of the Medical sector. With its current Zacks Industry Rank of 138, this industry ranks in the bottom 46% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Rockwell Medical, Inc. (RMTI) : Free Stock Analysis Report
