Can PetroQuest (PQ) Run Higher on Strong Earnings Estimate Revisions?
PetroQuest Energy Inc. (PQ), an oil and gas exploration and production 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 PQ’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 PetroQuest could be a solid choice for investors.
Current Quarter Estimates for PQ
In the past 30 days, 3 estimates have gone higher for PetroQuest while only none moved lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 8 cents a share 30 days ago, to 10 cents today, a move of 25.0%.
Current Year Estimates for PQ
Meanwhile, PetroQuest’s current year figures are also looking quite promising, with 4 estimates moving higher in the past month against just 1 lower. The consensus estimate trend has also seen a boost for this time frame, increasing from 40 cents per share 30 days ago to 49 cents per share today, an increase of 22.5%.
Bottom Line
The stock has also started to move higher lately, adding 36.0% 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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PETROQUEST ENERGY INC (PQ): Free Stock Analysis Report
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