Earnings Estimates Moving Higher for Magellan Health (MGLN): Time to Buy?
Magellan Health, Inc. MGLN, a healthcare management firm, 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 MGLN’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 Magellan Health could be a solid choice for investors.
Current Quarter Estimates for MGLN
In the past 30 days, 2 estimates have gone higher for Magellan Health while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 52 cents a share 30 days ago, to 78 cents today, an increase of 50%.
Current Year Estimates for MGLN
Meanwhile, Magellan Health’s current year figures are also looking quite promising, with 2 estimate moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, increasing from 65 cents per share 30 days ago to 91 cents per share today, an increase of 40%.
Bottom Line
The stock has also started to move higher lately, adding 19.5% 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.
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