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Strength Seen in Inspired Entertainment (INSE): Can Its 15.5% Jump Turn into More Strength?

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Inspired Entertainment (INSE) shares ended the last trading session 15.5% higher at $11.55. 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 26.4% gain over the past four weeks.

The company scored a third consecutive day of price increase following the better-than-expected fourth-quarter 2020 results. Earnings of $0.49 per share, beat the Zacks Consensus Estimate of a loss of $0.94 per share. Revenues of $71.7 million surpassed the consensus mark by 169.9%.

Price and Consensus

Price Consensus Chart for Inspired Entertainment
Price Consensus Chart for Inspired Entertainment

This company is expected to post quarterly loss of $0.52 per share in its upcoming report, which represents a year-over-year change of +18.8%. Revenues are expected to be $51.68 million, down 1.2% from the year-ago quarter.

Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.

For Inspired Entertainment, 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 INSE 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 >>>>


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