Acerinox (ANIOY) closed the most recent trading day at $5.25, moving +0.96% from the previous trading session. This move outpaced the S&P 500’s daily gain of 0.95%. At the same time, the Dow added 0.64%, and the tech-heavy Nasdaq gained 0.15%.
Heading into today, shares of the company had lost 9.57% over the past month, outpacing the Basic Materials sector’s loss of 11.11% and lagging the S&P 500’s loss of 3.49% in that time.
Wall Street will be looking for positivity from Acerinox as it approaches its next earnings report date. Meanwhile, our latest consensus estimate is calling for revenue of $2.41 billion, up 38.65% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.76 per share and revenue of $9.19 billion, which would represent changes of +40.8% and +16.13%, respectively, from the prior year.
Any recent changes to analyst estimates for Acerinox should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company’s business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. Within the past 30 days, our consensus EPS projection remained stagnant. Acerinox is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Acerinox is holding a Forward P/E ratio of 2.95. For comparison, its industry has an average Forward P/E of 2.85, which means Acerinox is trading at a premium to the group.
The Steel – Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 60, putting it in the top 24% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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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