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Orbia Advance Corporation, S.A.B. de C.V. Unsponsored ADR (MXCHY) Soars 6.8%: Is Further Upside Left in the Stock?

Zacks Equity Research

Orbia Advance Corporation, S.A.B. de C.V. Unsponsored ADR (MXCHY) shares soared 6.8% in the last trading session to close at $6.25. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 67.1% gain over the past four weeks.

Optimism over a strong rebound in most end-markets on the back of improving global economic conditions is driving the stock higher. The company is benefiting from strong demand across all product lines, cost and pricing actions to offset higher raw material and freight costs and its growth initiatives, which are driving its profitability. It is seeing strong momentum in Polymer Solutions and Wavin businesses, driven by strong demand and pricing.

Price and Consensus

Price Consensus Chart for MXCHY
Price Consensus Chart for MXCHY

This company is expected to post quarterly earnings of $0.19 per share in its upcoming report, which represents a year-over-year change of +1800%. Revenues are expected to be $2.1 billion, up 48.9% from the year-ago quarter.

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While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

For Orbia Advance Corporation, S.A.B. de C.V. Unsponsored ADR, 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 MXCHY going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank 2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>


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Orbia Advance Corporation, S.A.B. de C.V. Unsponsored ADR (MXCHY) : Free Stock Analysis Report

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Zacks Investment Research