Surging Earnings Estimates Signal Good News for Luminex (LMNX)

Zacks

Luminex Corporation (LMNX), a medical instruments provider, 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 LMNX’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 Luminex could be a solid choice for investors.

Current Quarter Estimates for LMNX

In the past 30 days, 2 estimates have gone higher for Luminex while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 11 cents a share 30 days ago, to 13 cents today, a move of 18.2%.

Current Year Estimates for LMNX

Meanwhile, Luminex’ current year figures are also looking quite promising, with 3 estimates 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 46 cents per share 30 days ago to 57 cents per share today, an increase of 23.9%.

Bottom Line

The stock has also started to move higher lately, adding 8.4% 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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