ElectraMeccanica Automobiles Corp. (SOLO) got here
ElectraMeccanica Automobiles Corp. (SOLO) got here out with a quarterly lack of $0.19 per share versus the Zacks Consensus Estimate of a lack of $0.11. This compares to lack of $0.17 per share a yr in the past. These figures are adjusted for non-recurring gadgets.
This quarterly report represents an earnings shock of -72.73%. 1 / 4 in the past, it was anticipated that this firm would publish a lack of $0.09 per share when it really produced a lack of $0.09, delivering no shock.
Over the past 4 quarters, the corporate has not been capable of surpass consensus EPS estimates.
ElectraMeccanica Automobiles Corp.Which belongs to the Zacks Automotive – International business, posted revenues of $0.22 million for the quarter ended December 2020, surpassing the Zacks Consensus Estimate by 39.38%. This compares to year-ago revenues of $0.24 million. The corporate has topped consensus income estimates thrice over the past 4 quarters.
The sustainability of the inventory’s quick worth motion based mostly on the recently-released numbers and future earnings expectations will principally depend upon administration’s commentary on the earnings name.
ElectraMeccanica Automobiles Corp. Shares have misplaced about 11.8% because the starting of the yr versus the S&P 500’s acquire of 4.9%.
What’s Subsequent for ElectraMeccanica Automobiles Corp.
Whereas ElectraMeccanica Automobiles Corp. Has underperformed the market thus far this yr, the query that involves traders’ minds is: what’s subsequent for the inventory?
There are not any straightforward solutions to this key query, however one dependable measure that may assist traders deal with that is the corporate’s earnings outlook. Not solely does this embrace present consensus earnings expectations for the approaching quarter(s), but additionally how these expectations have modified recently.
Empirical analysis exhibits a powerful correlation between near-term inventory actions and tendencies in earnings estimate revisions. Traders can observe such revisions by themselves or depend on a tried-and-tested ranking device just like the Zacks Rank, which has a powerful observe document of harnessing the facility of earnings estimate revisions.
Forward of this earnings launch, the estimate revisions development for ElectraMeccanica Automobiles Corp. Was combined. Whereas the magnitude and course of estimate revisions may change following the corporate’s just-released earnings report, the present standing interprets right into a Zacks Rank #3 (Maintain) for the inventory. So, the shares are anticipated to carry out consistent with the market within the close to future. You may see the whole listing of immediately’s Zacks #1 Rank (Sturdy Purchase) shares right here.
It is going to be attention-grabbing to see how estimates for the approaching quarters and present fiscal yr change within the days forward. The present consensus EPS estimate is -$0.06 on $0.55 million in revenues for the approaching quarter and -$0.36 on $14.2 million in revenues for the present fiscal yr.
Traders must be aware of the truth that the outlook for the business can have a fabric affect on the efficiency of the inventory as properly. When it comes to the Zacks Trade Rank, Automotive – International is presently within the prime 37% of the 250 plus Zacks industries. Our analysis exhibits that the highest 50% of the Zacks-ranked industries outperform the underside 50% by an element of greater than 2 to 1.
Need the newest suggestions from Zacks Funding Analysis? In the present day, you may obtain 7 Greatest Shares for the Subsequent 30 Days. Click on to get this free report
ElectraMeccanica Automobiles Corp. (SOLO): Free Inventory Evaluation Report
To learn this text on Zacks.com click on right here.
Zacks Funding Analysis
The views and opinions expressed herein are the views and opinions of the creator and don’t essentially mirror these of Nasdaq, Inc.