Electro Scientific Industries Inc. (ESIO) is a laser-based manufacturing solutions providing company that 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 ESIO’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 Electro Scientific Industries could be a solid choice for investors.
Current Quarter Estimates for ESIO
In the past 30 days, 1 estimate have gone higher for Electro Scientific Industries while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates narrowing from a loss of 29 cents a share 30 days ago, to a loss of 25 cents today, a move of 13.8%.
Current Year Estimates for ESIO
Meanwhile, Electro Scientific Industries’s current year figures are also looking quite promising, with 2 estimates moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, narrowing from a loss of $1.06 per share 30 days ago to a loss of 93 cents per share today, an increase of 12.3%.
The stock has also started to move higher lately, adding 8.7% 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.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>