Howard Hughes Holdings HHH shares rallied 8.9% in the last trading session to close at $65.6. 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 9.4% loss over the past four weeks.
The increase in investor optimism toward the stock can be partly attributed to Bill Ackman’s endorsement of Howard Hughes’ investment thesis, which highlighted the company’s valuation and long-term growth potential.
This land developer is expected to post quarterly earnings of $1.36 per share in its upcoming report, which represents a year-over-year change of -32.7%. Revenues are expected to be $669.85 million, up 71.7% 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 Howard Hughes Holdings, the consensus estimate for earnings per share (EPS) for the quarter has been revised 4.9% 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 HHH 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 >>>>
Howard Hughes Holdings is part of the Zacks Real Estate - Development industry. Cyrela Brazil Realty SA CYRBY, another stock in the same industry, closed the last trading session 3.4% higher at $5.49. CYRBY has returned 15.7% in the past month.
Cyrela Brazil Realty's consensus estimate for EPS for the upcoming report has changed +1% over the past month to $0.21. Compared to the company's year-ago EPS, this represents a change of -32.3%. Cyrela Brazil Realty currently boasts a Zacks Rank of #3 (Hold).
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Howard Hughes Holdings Inc. (HHH): Free Stock Analysis Report
Cyrela Brazil Realty SA (CYRBY): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).