Mirion Technologies, Inc. (MIR) shares soared 5.4% in the last trading session to close at $18.61. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 2.2% loss over the past four weeks.
The stock experienced this price increase as the company benefited from nuclear power demand and Paragon’s ability to grow installed base dynamics.
This company is expected to post quarterly earnings of $0.13 per share in its upcoming report, which represents a year-over-year change of +18.2%. Revenues are expected to be $274.51 million, up 23.2% 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 Mirion Technologies, 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 MIR 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 >>>>
Mirion Technologies belongs to the Zacks Technology Services industry. Another stock from the same industry, Trane Technologies (TT), closed the last trading session 2.3% higher at $483.4. Over the past month, TT has returned 4.6%.
Trane Technologies' consensus EPS estimate for the upcoming report has changed -0.2% over the past month to $4.27. Compared to the company's year-ago EPS, this represents a change of +10.1%. Trane Technologies currently boasts a Zacks Rank of #3 (Hold).
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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.
