Earnings Estimates Moving Higher for Emulex (ELX): Time to Buy? - Tale of the Tape
Emulex Corporation ( ELX ) is a Computer Networks cimpany 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 ELX'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 Emulex could be a solid choice for investors.
Current Quarter Estimates for ELX
In the past 30 days, 2 estimates have gone higher for Emulex while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 9 cents a share 30 days ago, to 11 today, a move of 22.2%.
Current Year Estimates for ELX
Meanwhile, Emulex's current year figures are also looking quite promising, with 2 estimates moving higher in the past month, compared to no lower. The consensus estimate trend has also seen a boost for this time frame, increasing from 36 cents per share 30 days ago to 26 cents per share today, an increase of 38.5%.
The stock has also started to move higher lately, adding 27.4% 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.