From Nasdaq:



Federal Signal (FSS) has been upgraded to a Zacks Rank #1 (Strong Buy) due to an upward trend in earnings estimates. The company’s changing earnings picture is the sole determinant of the Zacks rating system, and this positive rating reflects optimism about its earnings outlook. Rising earnings estimates imply an improvement in the company’s underlying business, and tracking earnings estimate revisions is proven to be correlated with near-term stock movements. Federal Signal is expected to earn $2.51 per share for the fiscal year ending December 2023, with the Zacks Consensus Estimate for the company increasing 3.2% over the past three months.

The Zacks Rank stock-rating system, which has a strong track record, places Federal Signal in the top 5% of the Zacks-covered stocks in terms of estimate revisions. This suggests the stock might move higher in the near term. The system equally weighs ‘buy’ and ‘sell’ ratings for its entire universe of stocks, with only the top 5% receiving a ‘Strong Buy’ rating, indicating a superior earnings estimate revision feature. Tracking such revisions for investment decisions could be rewarding, and the Zacks rating system effectively harnesses this power.



Read more: What Makes Federal Signal (FSS) a New Strong Buy Stock