Altisource Residential Corporation (RESI) is a real estate developer and it 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 RESI’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 Altisource Residential could be a solid choice for investors.
Current Quarter Estimates for RESI
In the past 30 days, 1 estimate has gone higher for Altisource Residential while no estimate moved lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 31 cents a share 30 days ago, to 39 today, a move of 25.8%.
Current Year Estimates for RESI
Meanwhile, Altisource Residential’s current year figures are also looking quite promising, with 1 estimate moving higher in the past month, compared to no estimate moving lower. The consensus estimate trend has also seen a boost for this time frame, increasing from $1.62 per share 30 days ago to $1.97 per share today, an increase of 21.6%.
The stock has also started to move higher lately, adding 7.83% 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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ALTISOURCE RESIDENTIAL CORP (RESI): Free Stock Analysis Report
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