Flexible Solutions (FSI) Scales 52-week High: What's Driving It?
Flexible Solutions International Inc.’s FSI shares reached a fresh 52-week high of $3.15 on Aug 19, before closing at $3.06.
In the past year, the stock has appreciated 13.8% against the industry’s 10.8% decline in the same period.
Image Source: Zacks Investment Research
What’s Driving Flexible Solutions?
FSI is optimistic about continuing its strong performance from the second quarter throughout the rest of 2024. The company is poised to capitalize on emerging opportunities in various applications, including detergent, food, nutraceuticals, oil field extraction, turf management, ornamental products and agriculture.
These developments are expected to drive further growth in the NanoChem division and the Enhanced Nutritional Products (ENP) subsidiary. The NanoChem division, contributing approximately 70% to FSI’s revenues, is particularly well-positioned for expansion with a robust pipeline of five products nearing purchase orders. It expects to receive purchase orders for at least two of them this year. It anticipates revenue growth from its ENP line, especially in the later part of the year.
Financially, Flexible Solutions expects its cash resources to be adequate to meet its cash flow requirements and future commitments. This will likely ensure that the company will be able to support its ongoing operations and growth initiatives.
In second-quarter 2024, FSI reported earnings per share (EPS) of 10 cents, which surpassed the Zacks Consensus Estimate of 7 cents. The company generated net sales of nearly $10.5 million, up 1.9% year over year and beating the Zacks Consensus Estimate of $10.3 million. The Zacks Consensus Estimate for 2024 EPS is pegged at 29 cents, indicating a 31.8% increase from the previous year’s levels.
Flexible Solutions International Inc. Price and Consensus
Flexible Solutions International Inc. price-consensus-chart | Flexible Solutions International Inc. Quote
Zacks Rank & Key Picks
FSI currently carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the Basic Materials space are Newmont Corporation NEM, Franco-Nevada Corporation FNV and Barrick Gold Corporation GOLD. Newmont sports a Zacks Rank #1 (Strong Buy), and Franco-Nevada and Barrick Gold carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Newmont’s current-year earnings is pegged at $2.82, indicating a rise of 75% from year-ago levels. The consensus estimate for NEM’s earnings has increased 16% in the past 60 days.The stock has gained nearly 33.8% in the past year.
The Zacks Consensus Estimate for FNV’s current-year earnings is pegged at $3.24. The consensus estimate for FNV’s earnings has increased by 2% in the past 60 days. FNV beat the consensus estimate in three of the last four quarters, with the average earnings surprise being 6%.
The Zacks Consensus Estimate for GOLD’s current year earnings is pegged at $1.21, indicating a year-over-year rise of 44%. GOLD’s earnings beat the Zacks Consensus Estimate in all of the last four quarters, the average earnings surprise being 21.2%. The company’s shares have increased 28.6% in the past year.
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
Newmont Corporation (NEM) : Free Stock Analysis Report
Barrick Gold Corporation (GOLD) : Free Stock Analysis Report
Franco-Nevada Corporation (FNV) : Free Stock Analysis Report
Flexible Solutions International Inc. (FSI) : Free Stock Analysis Report