Lucky Strike Entertainment (LUCK) shares ended the last trading session 9.2% higher at $11.12. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock’s 5.4% gain over the past four weeks.
Shares of Lucky Strike Entertainment are likely to have trended upward due to the company’s resilience and focus on strategic initiatives aimed at driving higher traffic to its locations. Efforts such as targeted capital investments and selective acquisitions continue to support this strategy. Amid macroeconomic uncertainty, the company remains disciplined on costs while prioritizing high-return opportunities to ensure long-term growth.
This company is expected to post quarterly loss of $0.07 per share in its upcoming report, which represents a year-over-year change of -16.7%. Revenues are expected to be $293.95 million, up 3.6% 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.
For Lucky Strike Entertainment, 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 LUCK going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks Rank #1 (Strong Buy) stocks here >>>>
Lucky Strike Entertainment is part of the Zacks Leisure and Recreation Services industry. AMC Entertainment (AMC), another stock in the same industry, closed the last trading session 1.7% higher at $3.5. AMC has returned 15.1% in the past month.
AMC Entertainment’s consensus EPS estimate for the upcoming report has changed -66.7% over the past month to -$0.04. Compared to the company’s year-ago EPS, this represents a change of +90.7%. AMC Entertainment currently boasts a Zacks Rank of #3 (Hold).
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This article originally published on Zacks Investment Research (zacks.com).
