Flexible Solutions International Inc.’s FSI shares reached a fresh 52-week high of $3.53 on Sept. 23, before closing at $3.52.
In the past year, the stock has gained 35.4% against the industry’s 6.3% decline.
Image Source: Zacks Investment Research
What’s Driving FSI?
Flexible Solutions is optimistic about maintaining its strong performance from the second quarter through the remainder of 2024. The company is well-positioned to seize emerging opportunities across various applications, including detergents, food, nutraceuticals, oil field extraction, turf management, ornamental products and agriculture.
These developments are expected to fuel growth in its NanoChem division and the Enhanced Nutritional Products (“ENP”) subsidiary. The NanoChem division, which generates roughly 70% of FSI’s revenues, is particularly poised for expansion with five products nearing the purchase order stage. The company expects to receive orders for at least two of these products by the end of this year. FSI anticipates revenue growth from its ENP line, particularly in the latter half of 2024.
From a financial standpoint, Flexible Solutions believes its current cash resources are sufficient to meet the company’s operational needs and support growth initiatives.
In the second quarter of 2024, FSI reported earnings per share (EPS) of 10 cents, surpassing the Zacks Consensus Estimate of 7 cents. The company achieved net sales of $10.5 million, marking a 1.9% year-over-year increase and exceeding the consensus estimate of $10.3 million. The Zacks Consensus Estimate for FSI’s 2024 EPS is 29 cents, indicating 31.8% growth from the past year.
Flexible Solutions International Inc. Price and Consensus
Flexible Solutions International Inc. price-consensus-chart | Flexible Solutions International Inc. Quote
FSI's Zacks Rank & Key Picks
FSI currently carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the Basic Materials space are IAMGOLD Corporation IAG, Eldorado Gold Corporation EGO and Carpenter Technology Corporation CRS. IAMGOLD, Eldorado Gold and Carpenter Technology currently sport a Zacks Rank #1 (Strong Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for IAMGOLD’scurrent-year earnings is pegged at 41 cents per share, indicating a rise of 355.6% from the year-ago level. IAG’s earnings beat the consensus estimate in each trailing four quarters, with the average surprise being 200%. The stock has surged nearly 148.4% in the past year.
The Zacks Consensus Estimate for Eldorado Gold’s current year earnings is pegged at $1.35 per share, indicating a year-over-year rise of 136.8%. EGO beat the consensus estimate in each trailing four quarters, with the average earnings surprise being 430.3%. The company's shares have surged nearly 82.9% in the past year.
The Zacks Consensus Estimate for Carpenter Technology’scurrent-year earnings is pegged at $6.09 per share, indicating a rise of 28.5% from the year-ago level. CRS’ earnings beat the consensus estimate in each of the trailing four quarters, with the average earnings surprise being 15.9%. The stock has surged nearly 126.4% in the past year.
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