Yahoo Finance Strength Seen in Perimeter Solutions, SA (PRM): Can Its 15.9% Jump Turn into More Strength?
Perimeter Solutions, SA PRM shares soared 15.9% in the last trading session to close at $7.21. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 7.2% gain over the past four weeks.
Perimeter Solutions' shares surged after it unveiled an automated fire test system for firefighting foam, funded in part by the European Union. This innovation promises faster development of new firefighting solutions, improved quality control through automation and a stronger competitive edge, all of which have investors bullish on the company's future.
This company is expected to post quarterly loss of $0.15 per share in its upcoming report, which represents a year-over-year change of -200%. Revenues are expected to be $55 million, up 25.4% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Perimeter Solutions, SA, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on PRM going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Perimeter Solutions, SA belongs to the Zacks Chemical - Specialty industry. Another stock from the same industry, Minerals Technologies MTX, closed the last trading session 0.9% lower at $74.09. Over the past month, MTX has returned 3.9%.
For Minerals Technologies , the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1.27. This represents a change of +11.4% from what the company reported a year ago. Minerals Technologies currently has a Zacks Rank of #3 (Hold).
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