Why Rockwell Medical (RMTI) Dipped More Than Broader Market Today
Rockwell Medical (RMTI) closed the latest trading day at $1.97, indicating a -0.51% change from the previous session's end. This move lagged the S&P 500's daily loss of 0.5%. Elsewhere, the Dow gained 0.12%, while the tech-heavy Nasdaq lost 1.23%.
Prior to today's trading, shares of the maker of products used in the treatment of kidney disease and anemia had lost 8.99% over the past month. This has lagged the Medical sector's loss of 4.84% and the S&P 500's loss of 2.4% in that time.
The investment community will be closely monitoring the performance of Rockwell Medical in its forthcoming earnings report. The company is expected to report EPS of -$0.12, up 70% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $23.67 million, indicating a 26.65% growth compared to the corresponding quarter of the prior year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$0.43 per share and a revenue of $86.08 million, signifying shifts of +77.25% and +18.23%, respectively, from the last year.
Investors should also note any recent changes to analyst estimates for Rockwell Medical. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Currently, Rockwell Medical is carrying a Zacks Rank of #3 (Hold).
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 147, putting it in the bottom 42% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Rockwell Medical, Inc. (RMTI) : Free Stock Analysis Report
