NantHealth, Inc. (NH) Reports Q3 Loss, Misses Revenue Estimates
Similar to wise buying decisions, exiting certain underperformers at the right time helps maximize portfolio returns. Selling off losers can be difficult, but if both the share price and estimates are falling, it could be time to get rid of the security before more losses hit your portfolio.
One such stock that you may want to consider dropping is Greenlight Capital Re, Ltd. GLRE, which has witnessed a significant price decline in the past four weeks, and it has seen negative earnings estimate revisions for the current quarter and the current year. A Zacks Rank #5 (Strong Sell) further confirms weakness in GLRE.
A key reason for this move has been the negative trend in earnings estimate revisions. For the full year, we have seen one estimate move down in the past 30 days, compared with no upward revisions. This trend has caused the consensus estimate to trend lower, going from a loss of $2.61 a share a month ago to its current level of a loss of $2.85.
Also, for the current quarter, Greenlight Capital has seen one downward estimate revision versus no revisions in the opposite direction, dragging the consensus estimate down to 25 cents a share from 72 cents over the past 30 days.
The stock also has seen some pretty dismal trading lately, as the share price has dropped 7.7% in the past month.
Greenlight Capital Re, Ltd. Price and Consensus
Greenlight Capital Re, Ltd. Price and Consensus | Greenlight Capital Re, Ltd. Quote
So it may not be a good decision to keep this stock in your portfolio anymore, at least if you don’t have a long time horizon to wait.
If you are still interested in the Insurance - Property and Casualty industry, you may instead consider a better-ranked stock - CNA Financial Corporation CNA. The stock currently holds a Zacks Rank #1 (Strong Buy) and may be a better selection at this time. You can see the complete list of today’s Zacks #1 Rank stocks here.
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With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
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CNA Financial Corporation (CNA) : Free Stock Analysis Report
Greenlight Capital Re, Ltd. (GLRE) : Free Stock Analysis Report
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