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Can Earthstone Energy (ESTE) Run Higher on Strong Earnings Estimate Revisions?

Earthstone Energy, Inc. ESTE is an independent oil and natural gas exploration and production 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 ESTE’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 Earthstone Energy could be a solid choice for investors.

Current Quarter Estimates for ESTE

In the past 30 days, 1 estimate has gone higher for Earthstone Energy while 1 has gone lower in the given time period. However, the trend has been pretty favorable, with estimates narrowing from a loss of 22 cents a share 30 days ago, to a loss of 18 cents today, a move of 18.2%.

Current Year Estimates for ESTE

Meanwhile, Earthstone Energy’s current year figures are also looking quite promising, with 3 estimates moving higher in the past month, compared to 2 lower. The consensus estimate trend has also seen a boost for this time frame, narrowing from a loss of 70 cents per share 30 days ago to a loss of 52 cents per share today, an increase of 25.7%.

Bottom Line

The stock has also started to move higher lately, adding 6.9% 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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EARTHSTONE EGY (ESTE): Free Stock Analysis Report
 
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