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Increased Earnings Estimates Seen for Baytex Energy (BTE): Can It Move Higher?

Baytex Energy Corp. BTE is an oil and gas company that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well. 

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on BTE’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Baytex Energy could be a solid choice for investors. 

Current Quarter Estimates for BTE

In the past 30 days, 1 estimate has gone higher for Baytex Energy with no downward revisions in the same time period. The trend has been pretty favorable too, with estimates narrowing from a loss of 20 cents a share 30 days ago, to a loss of 9 cents today, a move of 55%.

Current Year Estimates for BTE

Meanwhile, Baytex Energy’s current year figures are also looking quite promising, with 2 estimates moving higher in the past month, compared to no downward revisions. The consensus estimate trend has also seen a boost for this time frame, narrowing from a loss of 74 cents per share 30 days ago to a loss of 49 cents per share today, an increase of 33.8%. 

Bottom Line

The stock has also started to move higher lately, adding 5.5% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #3 (Hold) stock to profit in the near future.

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BAYTEX ENERGY (BTE): Free Stock Analysis Report
 
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