FTAI Aviation (FTAI) shares rallied 5.8% in the last trading session to close at $222.49. 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 19.8% loss over the past four weeks.
FTAI Aviation shares jumped after the company announced that its joint venture, J&F Power Systems, has signed a five-year master supply agreement with a leading international cloud service provider and received an initial purchase order worth $1.465 billion for Mod-1 mobile gas turbine generator sets.
The contract validates FTAI’s strategy of repurposing CFM56 aircraft engines into gas turbines for AI data centers. It enhances long-term revenue visibility, supports growth of its power business, diversifies revenue beyond aviation, and creates opportunities for additional orders under the master agreement.
This transportation infrastructure company is expected to post quarterly earnings of $1.32 per share in its upcoming report, which represents a year-over-year change of -15.9%. Revenues are expected to be $859.32 million, up 27.1% from the year-ago quarter.
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 FTAI Aviation, 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 FTAI 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 >>>>
FTAI Aviation is a member of the Zacks Aerospace – Defense Equipment industry. One other stock in the same industry, Moog (MOG.A), finished the last trading session 0.6% lower at $402.91. MOG.A has returned 0.8% over the past month.
For Moog, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $2.65. This represents a change of +11.8% from what the company reported a year ago. Moog currently has a Zacks Rank of #3 (Hold).
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This article originally published on Zacks Investment Research (zacks.com).
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