Strength Seen in Bel Fuse (BELFB): Can Its 7.4% Jump Turn into More Strength?
Bel Fuse BELFB shares ended the last trading session 7.4% higher at $39.44. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 11.6% gain over the past four weeks.
The upswing in BelFuse's share price can be attributed to strong adoption of its solutions in the the automotive, medical, broadcasting and consumer electronics end markets.
This maker of electronic products for circuits is expected to post quarterly earnings of $1.04 per share in its upcoming report, which represents a year-over-year change of +50.7%. Revenues are expected to be $158.18 million, up 7.5% 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 Bel Fuse, 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 BELFB 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 >>>>
Bel Fuse is a member of the Zacks Electronics - Miscellaneous Products industry. One other stock in the same industry, Trimble Navigation (TRMB), finished the last trading session 1.7% higher at $58.06. TRMB has returned 12.9% over the past month.
For Trimble , the consensus EPS estimate for the upcoming report has changed -1.1% over the past month to $0.61. This represents a change of -1.6% from what the company reported a year ago. Trimble currently has a Zacks Rank of #3 (Hold).
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