Resolute Forest Products Inc. ( RFP ), a manufacturer and seller of paper and related products, 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 RFP's earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames, suggesting that Resolute Forest Products could be a solid choice for investors.
Current Quarter Estimates for RFP
In the past 30 days, 1 estimate has gone higher for Resolute Forest Products. The trend has been pretty favorable too, with estimates increasing from 13 cents a share 30 days ago, to 21 cents per share today, a move of 61.5%.
Current Year Estimates for RFP
Meanwhile, Resolute Forest Products' current year figures are also looking quite promising with 1 estimate moving higher in the past month. The consensus estimate trend has seen a boost for this time frame, increasing from 94 cents per share 30 days ago to $1.00 per share today, an increase of 6.4%.
The stock has also started to move higher lately, adding 19% 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.