Oclaro, Inc. (OCLR), a manufacturer of semi-conductor equipments, 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 OCLR’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 Oclaro could be a solid choice for investors.
Current Quarter Estimates for OCLR
In the past 30 days, 2 estimates have gone higher for Oclaro while none moved lower in the same time period. The trend has been pretty favorable too, with estimates narrowing from a loss of 22 cents a share 30 days ago to a loss of 16 cents today, a significant move.
Current Year Estimates for OCLR
Meanwhile, Oclaro’s current year figures are also looking quite promising, with 1 estimate moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, narrowing from a loss of 98 cents per share 30 days ago to a loss of 86 cents per share today, a significant move.
The stock has also started to move higher lately, adding 5.7% 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.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>