Siemens (SIEGY) Stock Jumps 3.6%: Will It Continue to Soar?

Siemens AG (SIEGY) shares soared 3.6% in the last trading session to close at $106.90. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 4.5% gain over the past four weeks.Siemens shares gained since the news that the company received a $24.3 million contract for the electrification of the Sivok-Rangpo rail line in India by IRCON International. The company will employ advanced technologies, including its rigid overhead catenary system and predictive maintenance solutions. This will allow SIEGY to establish new standards for train electrification in difficult terrains.Recently, Siemens eMobility announced that it was selected as the technology partner for two major electric vehicle charging infrastructure projects in Italy. The company will partner with Autolinee Toscane to provide 73 charging points to support zero-emission bus fleets in Tuscany. It will collaborate with IPLANET to provide 120 locations with 300-400 kW Siemens chargers and renewable energy integration technology.This company is expected to post quarterly earnings of $1.05 per share in its upcoming report, which represents a year-over-year change of -34.4%. Revenues are expected to be $18.7 billion, down 5.7% 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 Siemens, 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 SIEGY going forward to see if this recent jump can turn into more strength down the road.The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Siemens is a member of the Zacks Industrial Services industry. One other stock in the same industry, Hudson Technologies (HDSN), finished the last trading session 0.2% lower at $6.08. HDSN has returned 15.1% over the past month.For Hudson Tech, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.02. This represents a change of -125% from what the company reported a year ago. Hudson Tech currently has a Zacks Rank of #3 (Hold).Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is among the most innovative financial firms. With a fast-growing customer base (already 50+ million) and a diverse set of cutting edge solutions, this stock is poised for big gains. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant 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 Siemens AG (SIEGY): Free Stock Analysis Report Hudson Technologies, Inc. (HDSN): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks