Acerinox (ANIOY) closed the most recent trading day at $5.33, moving +0.57% from the previous trading session. The stock lagged the S&P 500’s daily gain of 2.39%. At the same time, the Dow added 1.47%, and the tech-heavy Nasdaq gained 0.91%.
Coming into today, shares of the company had lost 1.12% in the past month. In that same time, the Basic Materials sector lost 15.27%, while the S&P 500 lost 10.51%.
Investors will be hoping for strength from Acerinox as it approaches its next earnings release. Meanwhile, our latest consensus estimate is calling for revenue of $2.41 billion, up 38.65% from the prior-year quarter.
ANIOY’s full-year Zacks Consensus Estimates are calling for earnings of $1.51 per share and revenue of $9.5 billion. These results would represent year-over-year changes of +20.8% and +20.01%, respectively.
Investors should also note any recent changes to analyst estimates for Acerinox. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company’s business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 6.52% lower within the past month. Acerinox currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Acerinox currently has a Forward P/E ratio of 3.52. This represents a premium compared to its industry’s average Forward P/E of 3.31.
The Steel – Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 18, which puts it in the top 8% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow ANIOY in the coming trading sessions, be sure to utilize Zacks.com.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.