EchoStar Corp. ( SATS ), a Satellite Communication service provider, 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 SATS'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 EchoStar could be a solid choice for investors.Current Quarter Estimates for SATS
In the past 30 days, 2 estimates has gone higher for EchoStar while none has gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 18 cents a share 30 days ago, to 30 cents today, a move of 66.7%.Current Year Estimates for SATS
Meanwhile, EchoStar's current year figures are also looking quite promising, with 2 estimates moving higher in the past month, compared to none moving lower. The consensus estimate trend has also seen a boost for this time frame, increasing from 64 cents per share 30 days ago to $1.06 per share today, an increase of 65.6%.Bottom Line
The stock has also started to move higher lately, adding 7.4% 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 #1 (Strong Buy) stock to profit in the near future.
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Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportECHOSTAR CORP (SATS): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research