Posco (PKX) Soars 6.7%: Is Further Upside Left in the Stock?

POSCO Holdings Inc. PKX shares ended the last trading session 6.7% higher at $53.31. 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 29.5% loss over the past four weeks.Shares of POSCO have been getting a boost from its transition toward low-carbon steelmaking, highlighted by the completion of South Korea’s largest electric arc furnace (EAF), which is expected to reduce carbon emissions by up to 75% and support its 2050 carbon-neutrality goal. Also, the company's advancement of Direct Lithium Extraction (DLE) technology in North America to secure a stable lithium supply chain and support growing EV battery demand bodes well.This steelmaker is expected to post quarterly earnings of $0.85 per share in its upcoming report, which represents a year-over-year change of +142.9%. Revenues are expected to be $12.38 billion, down 1.4% 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 POSCO, 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 PKX going forward to see if this recent jump can turn into more strength down the road.The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>POSCO is part of the Zacks Diversified Operations industry. CompoSecure, Inc. GPGI, another stock in the same industry, closed the last trading session 3.2% higher at $15.54. GPGI has returned 23.9% in the past month.GPGI INC's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.14. Compared to the company's year-ago EPS, this represents a change of -44%. GPGI INC currently boasts a Zacks Rank of #1 (Strong Buy).Radical New Technology Could Hand Investors Huge GainsQuantum Computing is the next technological revolution, and it could be even more advanced than AI.While some believed the technology was years away, it is already present and moving fast. Large hyperscalers, such as Microsoft, Google, Amazon, Oracle, and even Meta and Tesla, are scrambling to integrate quantum computing into their infrastructure.Senior Stock Strategist Kevin Cook reveals 7 carefully selected stocks poised to dominate the quantum computing landscape in his report, Beyond AI: The Quantum Leap in Computing Power.Kevin was among the early experts who recognized NVIDIA's enormous potential back in 2016. Now, he has keyed in on what could be "the next big thing" in quantum computing supremacy. Today, you have a rare chance to position your portfolio at the forefront of this opportunity.See Top Quantum Stocks Now >>This article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks