Surging Earnings Estimate Signal Good News for Newport (NEWP)


Industrial equipment wholesaler Newport Corp. (NEWP) 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 NEWP’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 Newport could be a solid choice for investors.

Current Quarter Estimates for NEWP

In the past 30 days, there were no estimate revisions for Newport. However, the consensus estimate trend has been pretty favorable, with estimates increasing from 20 cents a share 30 days ago to 26 cents today, a move of 30.0%.

Current Year Estimates for NEWP

Meanwhile, Newport’s current year figures are also looking quite promising. Though there have not been estimate revisions over the last 30 days, the consensus estimate trend has seen a boost for this time frame, increasing from 56 cents per share 30 days ago to 81 cents per share today, a surge of 44.6%.

Bottom Line

The stock has also started to move higher lately, adding 5.6% 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 #1 (Strong Buy) stock to profit in the near future.

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