Jacobs Solutions (J) shares rallied 4.6% in the last trading session to close at $162.57. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 4.2% gain over the past four weeks.
The increase in stock price is driven by investor optimism about the company’s strong performance in the life sciences, data centers, energy and power, water, and transportation industries.
This construction and technical services company is expected to post quarterly earnings of $1.67 per share in its upcoming report, which represents a year-over-year change of +21.9%. Revenues are expected to be $3.14 billion, up 6% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Jacobs Solutions, 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 J going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Jacobs Solutions belongs to the Zacks Technology Services industry. Another stock from the same industry, Knightscope, Inc. (KSCP), closed the last trading session 4.4% higher at $5.92. Over the past month, KSCP has returned -6.7%.
For Knightscope, the consensus EPS estimate for the upcoming report has changed +5.5% over the past month to -$0.72. This represents a change of +79.9% from what the company reported a year ago. Knightscope currently has a Zacks Rank of #2 (Buy).
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This article originally published on Zacks Investment Research (zacks.com).
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
