Earnings Estimates Moving Higher for Affymetrix (AFFX): Time to Buy?

Zacks

Affymetrix Inc. (AFFX), the provider of life science tools and molecular diagnostic 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 AFFX’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames, suggesting that Affymetrix could be a solid choice for investors.

Current Quarter Estimates for AFFX

In the past 30 days, no estimates moved up or down for Affymetrix. However, the consensus estimate trend has been pretty favorable, with estimates increasing from 3 cents a share 30 days ago, to 4 cents per share today, a move of 33%.

Current Year Estimates for AFFX

Meanwhile, Affymetrix’s current year figures are also looking quite promising. There have not been any estimate revision on either side, but the consensus estimate trend has seen a boost for this time frame, increasing from 14 cents per share 30 days ago to 16 cents per share today, an increase of 14.3%.

Bottom Line

The stock has also started to move higher lately, adding 5.3% 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 #2 (Buy) stock to profit in the near future.

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