Archer Aviation Inc. (ACHR) closed the latest trading day at $4.01, indicating a +0.25% change from the previous session’s end. This move lagged the S&P 500’s daily gain of 0.91%. At the same time, the Dow added 0.85%, and the tech-heavy Nasdaq gained 1.51%.
The company’s shares have seen a decrease of 9.3% over the last month, not keeping up with the Aerospace sector’s of 0% and the S&P 500’s loss of 4.2%.
The investment community will be closely monitoring the performance of Archer Aviation Inc. in its forthcoming earnings report. The company is scheduled to release its earnings on May 9, 2024. The company is forecasted to report an EPS of -$0.29, showcasing a 19.44% upward movement from the corresponding quarter of the prior year.
Investors should also note any recent changes to analyst estimates for Archer Aviation Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts’ confidence in the company’s business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Archer Aviation Inc. presently features a Zacks Rank of #3 (Hold).
The Aerospace – Defense industry is part of the Aerospace sector. With its current Zacks Industry Rank of 100, this industry ranks in the top 40% of all industries, numbering over 250.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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