BrightSpring Health Services, Inc. BTSG shares rallied 12.6% in the last trading session to close at $20.89. 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 6.6% gain over the past four weeks.
BrightSpring Health Services recorded a strong price rise on investors’ optimism surrounding the company’s announcement of preliminary 2024 financial results. The company expects to report full year 2024 revenue between $11.2 million and $11.3 million, representing a growth of 26.9% to 28.0%. The Zacks Consensus Estimate for full year 2024 revenue suggests a growth of 26.9%.
This company is expected to post quarterly earnings of $0.23 per share in its upcoming report, which represents a year-over-year change of +483.3%. Revenues are expected to be $2.95 billion, up 24.1% 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 BrightSpring Health Services, 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 BTSG 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 >>>>
BrightSpring Health Services, Inc. is a member of the Zacks Medical Services industry. One other stock in the same industry, Premier, Inc. PINC, finished the last trading session 1.5% lower at $22.09. PINC has returned 4.9% over the past month.
Premier's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.29. Compared to the company's year-ago EPS, this represents a change of -51.7%. Premier currently boasts a Zacks Rank of #2 (Buy).
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