Atlanticus Holdings Corporation (ATLC) Surges 5.5%: Is This an Indication of Further Gains?

This story originally appeared on Zacks

Atlanticus Holdings Corporation (ATLC) shares rallied 5.5% in the last trading session to close at $77.49. 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 38.5% gain over the past four weeks.

– Zacks

The surge in shares reflects investors’ growing confidence in the company’s business, underscored by a rise in customers served, managed assets, revenues and profitability.

Investment in technology and expanding marketing channels will continue to generate solid results.

Strong performance in its two main operating lines, general purpose credit cards and point-of-sale financing mirrors operational efficiency.

This company is expected to post quarterly earnings of $1.50 per share in its upcoming report, which represents a year-over-year change of -12.8%. Revenues are expected to be $180.32 million, up 87.8% from the year-ago quarter.

While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

For Atlanticus Holdings Corporation, 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 ATLC 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 >>>>

Infrastructure Stock Boom to Sweep America

A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made.

The only question is “Will you get into the right stocks early when their growth potential is greatest?”

Zacks has released a Special Report to help you do just that, and today it’s free. Discover 7 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.

Download FREE: How to Profit from Trillions on Spending for Infrastructure >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Atlanticus Holdings Corporation (ATLC): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research

Checkout latest world news below links :
World News || Latest News || U.S. News

Source link

Back to top button