Earnings Estimates Moving Higher for Meadowbrook Insurance (MIG): Time to Buy?

Zacks

Meadowbrook Insurance Group Inc. (MIG) is an Insurance 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 MIG’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 Meadowbrook Insurance could be a solid choice for investors.
 
Current Quarter Estimates for MIG
 
In the past 30 days, 2 estimates have gone higher for Meadowbrook Insurance while just 1 has gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 7 cents a share 30 days ago, to 10 today, a move of 42.9%.
 
Current Year Estimates for MIG
 
Meanwhile, Meadowbrook Insurance’s current year figures are also looking quite promising, with 1 estimate 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 40 cents per share 30 days ago to 48 cents per share today, an increase of 20.0%.
 
Bottom Line
 
The stock has also started to move higher lately, adding 23.8% 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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