American Midstream Partners, LP (AMID), engaged in gathering and transportation of natural gas, 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 AMID’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames, suggesting that American Midstream could be a solid choice for investors.
Current Quarter Estimates for AMID
In the past 30 days, 3 estimates have gone higher for American Midstream with no downward revision. The consensus estimate trend has been pretty favorable, with estimates narrowing from a loss of 37 cents per share 30 days ago to a loss of 8 cents today, representing a significant move.
Current Year Estimates for AMID
Meanwhile, American Midstream’s current year figures are also looking quite promising with 3 estimates moving higher in the past month. The consensus estimate trend has also seen a boost for this time frame, narrowing from a loss of 59 cents per share 30 days ago to a loss of 39 cents today.
The stock has also started to move higher lately, adding 9.4% 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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