Earnings Estimates Moving Higher for Energen (EGN): Time to Buy?
Energen Corp. EGN is a diversified energy holding 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 EGN'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 Energen could be a solid choice for investors.
Current Quarter Estimates for EGN
In the past 30 days, 6 estimates have gone higher for Energen while 2 have gone lower in the same time period. The trend has been pretty favorable too, with estimates narrowing from a loss of 47 cents a share 30 days ago, to a loss of 41 cents today, a move of 14.6%.
Current Year Estimates for EGN
Meanwhile, Energen's current year figures are also looking quite promising, with 7 estimates moving higher in the past month, compared to 1 lower. The consensus estimate trend has also seen a boost for this time frame, narrowing from $1.89 per share 30 days ago to $1.65 per share today, an increase of 14.5%.
The stock has also started to move higher lately, adding 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.