Viking Holdings (VIK) shares rallied 6.8% in the last trading session to close at $85.8. 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 12.4% gain over the past four weeks.
Viking Holdings' shares rose on April 17, as oil slipped sharply to record lows after Iran declared the Strait of Hormuz open for commercial vessels, though President Trump stated the U.S. naval blockade would remain in effect. On Friday, Brent crude plummeted 12%, slipping below $84 per barrel. Expenses on fuel represent a key input cost for travel stocks like VIK.
This cruise operator is expected to post quarterly loss of $0.12 per share in its upcoming report, which represents a year-over-year change of +50%. Revenues are expected to be $974.7 million, up 8.7% 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 Viking, the consensus EPS estimate for the quarter has been revised marginally lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on VIK 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 >>>>
Viking is part of the Zacks Leisure and Recreation Services industry. United Parks & Resorts (PRKS), another stock in the same industry, closed the last trading session 0.4% higher at $36.07. PRKS has returned 11.2% in the past month.
For United Parks & Resorts, the consensus EPS estimate for the upcoming report has changed -5.1% over the past month to -$0.34. This represents a change of -17.2% from what the company reported a year ago. United Parks & Resorts currently has 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.
