Freightcar America (RAIL) shares soared 5.1% within the final buying and selling session to shut at $6.87. The transfer was backed by strong quantity with much more shares altering fingers than in a traditional session. This compares to the inventory’s 19.5% loss over the previous 4 weeks.
Earlier within the month, the corporate reported better-than-expected earnings per share for the fourth quarter of 2024. Revenues and earnings per share improved 12 months over 12 months. The corporate, which reported a 56% 12 months over 12 months progress in 2024 revenues, efficiently launched into the tank automotive phase, increasing its attain and aggressive benefit in a higher-margin phase. Shares of the corporate have gained handsomely for the reason that earnings launch on March 12.
This rail automotive maker is anticipated to publish quarterly earnings of $0.20 per share in its upcoming report, which represents a year-over-year change of +900%. Revenues are anticipated to be $124.92 million, down 22.4% from the year-ago quarter.
Earnings and income progress expectations actually give sense of the potential power in a inventory, however empirical analysis reveals that traits in earnings estimate revisions are strongly correlated with near-term inventory worth actions.
For Freightcar America, the consensus EPS estimate for the quarter has been revised 20% greater during the last 30 days to the present degree. And a constructive pattern in earnings estimate revision often interprets into worth appreciation. So, make sure that to control RAIL going ahead to see if this current soar can flip into extra power down the highway.
The inventory presently carries a Zacks Rank #3 (Maintain). You possibly can see the complete list of today’s Zacks Rank #1 (Strong Buy) stocks here >>>>
Freightcar America belongs to the Zacks Transportation – Tools and Leasing business. One other inventory from the identical business, Ryder (R), closed the final buying and selling session 0.2% decrease at $144.87. Over the previous month, R has returned -9.1%.
For Ryder
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This article originally published on Zacks Investment Research (zacks.com).
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