Akzo Nobel NV (AKZOY – Free Report) shares soared 8% in the last trading session to close at $19.67. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock’s 17.3% loss over the past four weeks.
The rally in AKZOY was fueled by a broader rise in material stocks after President Trump paused reciprocal tariffs for most countries for 90 days.
This company is expected to post quarterly earnings of $0.30 per share in its upcoming report, which represents a year-over-year change of +15.4%. Revenues are expected to be $2.69 billion, down 6.6% 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 AkzoNobel, 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 AKZOY going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks Rank #1 (Strong Buy) stocks here >>>>
AkzoNobel is a member of the Zacks Chemical – Diversified industry. One other stock in the same industry, Chemours (CC – Free Report) , finished the last trading session 24% higher at $11.88. CC has returned -29.9% over the past month.
Chemours’ consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.19. Compared to the company’s year-ago EPS, this represents a change of -40.6%. Chemours currently boasts a Zacks Rank of #3 (Hold).
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