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Enviri (NVRI) Soars 6.1%: Is Further Upside Left in the Stock?

Zacks Equity Research
·2-min read

Enviri (NVRI) shares rallied 6.1% in the last trading session to close at $8.87. 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 1.5% loss over the past four weeks.

The stock is benefitting from the improved performances of Harsco Environmental and Clean Earth, driven by growth in services and eco-product volumes, coupled with increased pricing, and higher volumes and lower costs across the hazardous waste business.

This industrial services company is expected to post quarterly loss of $0.01 per share in its upcoming report, which represents a year-over-year change of -200%. Revenues are expected to be $615.3 million, up 18.3% 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.

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For Enviri, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on NVRI 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 >>>>

Enviri belongs to the Zacks Waste Removal Services industry. Another stock from the same industry, GFL Environmental Inc. (GFL), closed the last trading session 0.7% higher at $38.36. Over the past month, GFL has returned 21.8%.

For GFL Environmental , the consensus EPS estimate for the upcoming report has changed -1.4% over the past month to $0.20. This represents a change of -44.4% from what the company reported a year ago. GFL Environmental currently has a Zacks Rank of #3 (Hold).

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Enviri Corporation (NVRI) : Free Stock Analysis Report

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Zacks Investment Research