This, after all, is a company that has made multiple missteps since it pivoted to the commercial electric vehicle market back in 2013. And yet, even with that decline, it's still easier to make the bear case for WKHS than a bullish argument. Shares have fallen 80% since the beginning of 2021. ( NASDAQ: WKHS) stock closed Friday below $4, at its lowest level in more than 18 months. To read this article on click here.Workhorse Group Inc. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Innoviz Technologies Ltd.'s revenues are expected to be $0.6 million, down 66.1% from the year-ago quarter. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This company is expected to post quarterly loss of $0.21 per share in its upcoming report, which represents a year-over-year change of +8.7%. The results are expected to be released on May 17. (INVZ), another stock in the same industry, has yet to report results for the quarter ended March 2023. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. In terms of the Zacks Industry Rank, Automotive - Original Equipment is currently in the top 37% of the 250 plus Zacks industries. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.Įmpirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. While Workhorse has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? Workhorse shares have lost about 40.3% since the beginning of the year versus the S&P 500's gain of 7.4%. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. The company has not been able to beat consensus revenue estimates over the last four quarters. This compares to year-ago revenues of $0.01 million. Workhorse, which belongs to the Zacks Automotive - Original Equipment industry, posted revenues of $1.69 million for the quarter ended March 2023, missing the Zacks Consensus Estimate by 70.56%. Over the last four quarters, the company has surpassed consensus EPS estimates just once. A quarter ago, it was expected that this truck and drone manufacturer would post a loss of $0.16 per share when it actually produced a loss of $0.24, delivering a surprise of -50%. This quarterly report represents an earnings surprise of 25%. These figures are adjusted for non-recurring items. This compares to loss of $0.15 per share a year ago. Workhorse Group (WKHS) came out with a quarterly loss of $0.15 per share versus the Zacks Consensus Estimate of a loss of $0.20.
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