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Strength Seen in Expro Group Holdings (XPRO): Can Its 6.4% Jump Turn into More Strength?

Expro Group Holdings (XPRO) shares ended the last trading session 6.4% higher at $24.83. 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 1.7% gain over the past four weeks.

The bullishness could be attributed to its second-quarter performance which showcased a remarkable surge in revenue. The revenues soared 17% sequentially and 27% year-over-year. The company has seen a remarkable turnaround in its net income of $9 million compared to a net loss of $6 million in the previous period. XPRO’s higher activity across all segments have been significant drivers of its stock performance.

This oil and gas pipe provider is expected to post quarterly earnings of $0.39 per share in its upcoming report, which represents a year-over-year change of +657.1%. Revenues are expected to be $407.23 million, up 21.8% 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 Expro Group Holdings, 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 XPRO 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 >>>>

Expro Group Holdings is a member of the Zacks Oil and Gas - Production and Pipelines industry. One other stock in the same industry, Williams Companies, Inc. (The) (WMB), finished the last trading session 1.1% lower at $34.34. WMB has returned 0.3% over the past month.

For Williams Companies, Inc. (The) , the consensus EPS estimate for the upcoming report has changed -1.7% over the past month to $0.40. This represents a change of -16.7% from what the company reported a year ago. Williams Companies, Inc. (The) currently has a Zacks Rank of #3 (Hold).

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