Strattec Security (STRT), another stock in the same industry, has yet to report results for the quarter ended March 2023. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. ![]() In terms of the Zacks Industry Rank, Automotive - Original Equipment is currently in the bottom 37% of the 250 plus Zacks industries. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.Įmpirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. While Wabash has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? Wabash shares have lost about 1.9% since the beginning of the year versus the S&P 500's gain of 6.1%. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. The company has topped consensus revenue estimates two times over the last four quarters. This compares to year-ago revenues of $546.76 million. Wabash, which belongs to the Zacks Automotive - Original Equipment industry, posted revenues of $620.95 million for the quarter ended March 2023, missing the Zacks Consensus Estimate by 0.01%. Over the last four quarters, the company has surpassed consensus EPS estimates three times. A quarter ago, it was expected that this maker of truck trailers would post earnings of $0.71 per share when it actually produced earnings of $0.84, delivering a surprise of 18.31%. ![]() This quarterly report represents an earnings surprise of 131.11%. These figures are adjusted for non-recurring items. This compares to earnings of $0.24 per share a year ago. Wabash National (WNC) came out with quarterly earnings of $1.04 per share, beating the Zacks Consensus Estimate of $0.45 per share.
0 Comments
Leave a Reply. |