The Phoenix Companies Inc. (PNX) saw a big move last session, as the company’s shares fell by nearly 11% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This continues the recent downtrend for PNX, as the stock is now down almost 13% since Mar 12, 2015.
The insurance has seen a flat record when it comes to current year estimate revisions over the past few weeks (0 increases, 0 decreases), and the consensus for earnings hasn’t been in a trend either. This recent price action is discouraging, so make sure to keep a close watch on this firm in the near future, and especially on earnings estimates following the recent slump.
PNX currently has a Zacks Rank #3 (Hold) while its Earnings ESP is 0.00%.
Investors interested in the insurance industry may consider better-ranked stock like American Equity Investment Life Holding Co. (AEL), which carries a Zacks Rank #2 (Buy).
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Weakness Seen in Phoenix Companies (PNE): Stock Tumbles 10.8% - Tale of the Tape
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