Yahoo Finance Root, Inc. (ROOT) Gains As Market Dips: What You Should Know
In the latest trading session, Root, Inc. (ROOT) closed at $66.78, marking a +1.64% move from the previous day. The stock outpaced the S&P 500's daily loss of 1.46%. Meanwhile, the Dow experienced a drop of 1.24%, and the technology-dominated Nasdaq saw a decrease of 1.63%.
Shares of the company witnessed a gain of 41.99% over the previous month, beating the performance of the Finance sector with its loss of 3.74% and the S&P 500's gain of 1.6%.
The investment community will be closely monitoring the performance of Root, Inc. in its forthcoming earnings report. The company is scheduled to release its earnings on April 30, 2024. The company is forecasted to report an EPS of -$2.51, showcasing a 12.85% upward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $185 million, indicating a 163.91% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$7.87 per share and revenue of $918 million, which would represent changes of +23.14% and +101.76%, respectively, from the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Root, Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Currently, Root, Inc. is carrying a Zacks Rank of #2 (Buy).
The Insurance - Property and Casualty industry is part of the Finance sector. This industry, currently bearing a Zacks Industry Rank of 37, finds itself in the top 15% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Root, Inc. (ROOT) : Free Stock Analysis Report
