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Strength Seen in United (UAL): Can Its 3.3% Jump Turn into More Strength?
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United Airlines (UAL - Free Report) shares soared 3.3% in the last trading session to close at $107.11. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 8.1% gain over the past four weeks.
UAL shares are being aided by strong air-travel demand. The carrier's strong exposure to international markets is a positive, as demand for international flights is robust. The Chicago-based carrier's transatlantic bookings for 2024 winter were 30% higher than pre-COVID levels. The company's attractive valuation picture is another positive. Driven by the positives, UAL shares have surged 169% in a year's time.
This airline is expected to post quarterly earnings of $2.99 per share in its upcoming report, which represents a year-over-year change of +49.5%. Revenues are expected to be $14.39 billion, up 5.6% 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 United, the consensus EPS estimate for the quarter has been revised 5.7% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on UAL going forward to see if this recent jump can turn into more strength down the road.
United is a member of the Zacks Transportation - Airline industry. One other stock in the same industry, Ryanair (RYAAY - Free Report) , finished the last trading session 3.5% lower at $42.96. RYAAY has returned -2.4% over the past month.
For Ryanair, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.09. This represents a change of +200% from what the company reported a year ago. Ryanair currently has a Zacks Rank of #3 (Hold).
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Strength Seen in United (UAL): Can Its 3.3% Jump Turn into More Strength?
United Airlines (UAL - Free Report) shares soared 3.3% in the last trading session to close at $107.11. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 8.1% gain over the past four weeks.
UAL shares are being aided by strong air-travel demand. The carrier's strong exposure to international markets is a positive, as demand for international flights is robust. The Chicago-based carrier's transatlantic bookings for 2024 winter were 30% higher than pre-COVID levels. The company's attractive valuation picture is another positive. Driven by the positives, UAL shares have surged 169% in a year's time.
This airline is expected to post quarterly earnings of $2.99 per share in its upcoming report, which represents a year-over-year change of +49.5%. Revenues are expected to be $14.39 billion, up 5.6% 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 United, the consensus EPS estimate for the quarter has been revised 5.7% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on UAL 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 >>>>
United is a member of the Zacks Transportation - Airline industry. One other stock in the same industry, Ryanair (RYAAY - Free Report) , finished the last trading session 3.5% lower at $42.96. RYAAY has returned -2.4% over the past month.
For Ryanair, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.09. This represents a change of +200% from what the company reported a year ago. Ryanair currently has a Zacks Rank of #3 (Hold).