Workhorse Group (WKHS) closed at $16.66 in the latest trading session, marking a -1.13% move from the prior day. This change lagged the S&P 500's 0.78% gain on the day. At the same time, the Dow added 0.68%, and the tech-heavy Nasdaq gained 1.44%.
Coming into today, shares of the truck and drone manufacturer had gained 350.54% in the past month. In that same time, the Auto-Tires-Trucks sector gained 8.38%, while the S&P 500 lost 1.32%.
WKHS will be looking to display strength as it nears its next earnings release. In that report, analysts expect WKHS to post earnings of -$0.12 per share. This would mark a year-over-year decline of 20%. Our most recent consensus estimate is calling for quarterly revenue of $0.30 million, up 2900% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.34 per share and revenue of $16 million, which would represent changes of -385.71% and +4144.03%, respectively, from the prior year.
Any recent changes to analyst estimates for WKHS should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.47% higher within the past month. WKHS is currently a Zacks Rank #3 (Hold).
The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 70, putting it in the top 28% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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