When Lender Processing Services (NYSE:LPS) reported earnings 29 days ago on April 22, 2010, analysts, on average, expected the company to report earnings of $0.79 on sales of $595 million.
The company actually reported EPS of $0.80 on sales of $592 million, beating EPS estimates by $0.01 and missing revenues estimates by $3 million.
Since the company’s report, share of Lender Processing Services have fallen from $38.66 to $34.45, representing a loss of 10.89% in the past 29 days.
SmarTrend is bearish on shares of Lender Processing Services and our subscribers were alerted to Sell on May 07, 2010 at $35.31. The stock has fallen 2.4% since the alert was issued.
Today, shares of Lender Processing Services (NYSE:LPS) have crossed bearishly below their 10-day moving average of $37.26 on volume of 417 thousand shares.
This may provide swing traders with an opportunity for a short position as such a crossover often suggests lower prices in the near term. Watch for a close below this moving average level for confirmation. SmarTrend issued a Downtrend Alert for Lender Processing Services on March 31, 2010 at $38.26. In approximately 2 weeks, Lender Processing Services has returned 3.4% as of today’s recent price of $36.97.
We will continue to monitor LPS’s share price relative to this moving average.
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