Piper Sandler Companies (PIPR) shares ended the last trading session 14% higher at $240.34. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 15.9% loss over the past four weeks.
Piper Sandler shares rallied sharply, benefiting from broad market strength following President Donald Trump’s announcement of a 90-day suspension on tariffs for non-retaliating countries. The policy shift eased trade tensions and improved market sentiment, fueling a sharp uptick in PIPR shares.
This company is expected to post quarterly earnings of $2.42 per share in its upcoming report, which represents a year-over-year change of -13.3%. Revenues are expected to be $355.6 million, up 3.7% 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 Piper Sandler Companies, 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 PIPR 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 >>>>
Piper Sandler Companies is part of the Zacks Financial - Investment Bank industry. MarketAxess (MKTX), another stock in the same industry, closed the last trading session 1.5% lower at $203.19. MKTX has returned -1.8% in the past month.
MarketAxess' consensus EPS estimate for the upcoming report has changed -1.4% over the past month to $1.81. Compared to the company's year-ago EPS, this represents a change of -5.7%. MarketAxess currently boasts a Zacks Rank of #3 (Hold).
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This article originally published on Zacks Investment Research (zacks.com).
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