Why CIRCOR International's Shares Popped

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Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of manufacturer CIRCOR International (NYSE: CIR  ) jumped 17% today after reporting third-quarter earnings.

So what: Revenue was up 2%, to $214.7 million, coming in slightly below the $216.3 million estimate from analysts. What really got investors excited was adjusted earnings per share of $0.93 in the quarter, $0.13 better than expectations.

Now what: Bottom line momentum was strong and, next quarter, the top line is expected to catch up. Management said revenue will be between $222 million and $228 million, well above expectations of $216 million. Earnings of $0.88 to $0.95 were also above the $0.76 estimate. I think this momentum on the bottom line will continue to drive shares higher.

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Related Tickers

9/28/2016 4:02 PM
CIR $58.43 Up +1.28 +2.24%
CIRCOR Internation… CAPS Rating: No stars