Increased Earnings Estimates Seen for Alon USA Energy (ALJ): Can It Move Higher?

Zacks

Alon USA Energy, Inc. (ALJ), an oil and gas refining and marketing company, 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 ALJ’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 Alon USA Energy could be a solid choice for investors.

Current Quarter Estimates for ALJ

In the past 30 days, 4 estimates have gone higher for Alon USA Energy while none of the estimates were revised lower in the same time period. The trend has been pretty favorable too, with estimates narrowing from a loss of 25 cents a share 30 days ago to a loss of 15 cents today, a move of 31.7%.

Current Year Estimates for ALJ

Meanwhile, Alon USA Energy’s current year figures are also looking quite promising, with 1 estimate moving higher in the past month, compared to none moving lower. The consensus estimate trend has also seen a boost for this time frame, increasing from 33 cents per share 30 days ago to 47 cents per share today, an increase of 43.2%.

Bottom Line

The stock has also started to move higher lately, adding 16.2% 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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