Sensus Healthcare, Inc. (SRTS) Moves 5.1% Higher: Will This Strength Last?
Sensus Healthcare, Inc. (SRTS) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock doesn't suggest further strength...
Sensus Healthcare, Inc. SRTS shares rallied 5.1% in the last trading session to close at $8.80. 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 13.9% gain over the past four weeks.
Sensus Healthcare’s bull run on the bourse continues since the company released a strong preliminary fourth-quarter 2021 announcement on Jan 5. The company anticipates record sales for the fourth quarter, resulting in over $25 million in sales for the full-year 2021 along with positive EBITDA and net income for both the fourth quarter and full year. The Zacks Consensus Estimate for the Sensus Healthcare’s fourth quarter sales is pegged at $9.34 million and the same for the full year matches with the company’s preliminary projection. The company’s fourth quarter sales include three Superficial Radiation Therapy Systems shipments to China. The company also expects to report profits for the first quarter of 2022 backed by current shipment expectations.
This company is expected to post quarterly earnings of $0.10 per share in its upcoming report, which represents a year-over-year change of +66.7%. Revenues are expected to be $9.34 million, up 83.6% 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 Sensus Healthcare, Inc., the consensus EPS estimate for the quarter has been revised 8.3% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on SRTS going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank 1 (Strong Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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