Yahoo Finance Root, Inc. (ROOT) Outpaces Stock Market Gains: What You Should Know
In the latest market close, Root, Inc. (ROOT) reached $60.02, with a +1.44% movement compared to the previous day. The stock's change was more than the S&P 500's daily gain of 0.02%. Elsewhere, the Dow lost 0.11%, while the tech-heavy Nasdaq added 0.1%.
Heading into today, shares of the company had gained 1.36% over the past month, outpacing the Finance sector's loss of 4.82% and the S&P 500's loss of 3.01% in that time.
The upcoming earnings release of Root, Inc. will be of great interest to investors. The company's earnings report is expected on April 30, 2024. In that report, analysts expect Root, Inc. to post earnings of -$2.51 per share. This would mark year-over-year growth of 12.85%. Simultaneously, our latest consensus estimate expects the revenue to be $185 million, showing a 163.91% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates project earnings of -$7.87 per share and a revenue of $918 million, demonstrating changes of +23.14% and +101.76%, respectively, from the preceding year.
It is also important to note the recent changes to analyst estimates for Root, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Root, Inc. is currently sporting a Zacks Rank of #2 (Buy).
The Insurance - Property and Casualty industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 58, positioning it in the top 24% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Root, Inc. (ROOT) : Free Stock Analysis Report
