Workhorse Group (WKHS) closed at $16.34 in the latest trading session, marking a -0.97% move from the prior day. This change lagged the S&P 500's 0.91% gain on the day. Elsewhere, the Dow gained 0.85%, while the tech-heavy Nasdaq added 0.59%.
Heading into today, shares of the truck and drone manufacturer had gained 275% over the past month, outpacing the Auto-Tires-Trucks sector's gain of 17.13% and the S&P 500's gain of 5.26% in that time.
Wall Street will be looking for positivity from WKHS as it approaches its next earnings report date. The company is expected to report EPS of -$0.12, down 20% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $0.30 million, up 2900% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.34 per share and revenue of $16 million. These totals would mark changes of -385.71% and +4144.03%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for WKHS. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 1.47% higher within the past month. WKHS currently has a Zacks Rank of #3 (Hold).
The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 93, which puts it in the top 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
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