TransUnion (TRU) shares rallied 4.1% in the last trading session to close at $101.92. 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 8.8% gain over the past four weeks.
The stock is benefiting from the company’s efforts to streamline and standardize operations, and to shift its technology stack to a hybrid public and private cloud model through a multiyear initiative called Project Rise.
Price and Consensus
This credit reporting company is expected to post quarterly earnings of $0.80 per share in its upcoming report, which represents a year-over-year change of +9.6%. Revenues are expected to be $704.76 million, up 2.5% 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 TransUnion, 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 TRU 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 >>>>
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.