Why Rockwell Medical (RMTI) Outpaced the Stock Market Today
The most recent trading session ended with Rockwell Medical (RMTI) standing at $1.95, reflecting a +1.04% shift from the previouse trading day's closing. This move outpaced the S&P 500's daily gain of 0.28%. Elsewhere, the Dow gained 0.17%, while the tech-heavy Nasdaq added 0.9%.
The maker of products used in the treatment of kidney disease and anemia's stock has dropped by 10.65% in the past month, falling short of the Medical sector's loss of 1.42% and the S&P 500's gain of 1.45%.
Investors will be eagerly watching for the performance of Rockwell Medical in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on November 14, 2023. The company is predicted to post an EPS of -$0.12, indicating a 70% growth compared to the equivalent quarter last year. 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 might also notice 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Rockwell Medical currently has a Zacks Rank of #3 (Hold).
The Medical - Products industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 148, placing it within the bottom 42% of over 250 industries.
The Zacks Industry Rank gauges the strength of our 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Rockwell Medical, Inc. (RMTI) : Free Stock Analysis Report
