Can CVR Refining (CVRR) Run Higher on Strong Earnings Estimate Revisions?
CVR Refining, LP CVRR an independent petroleum refiner and marketer of transportation fuels and 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 CVRR’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 CVR Refining could be a solid choice for investors.
Current Quarter Estimates for CVRR
In the past 30 days, one estimate has gone higher for CVR Refining while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates improving from a loss of 1 cent a share 30 days ago, to earnings of 43 cents today, a significant move.
Current Year Estimates for CVRR
Meanwhile, CVR Refining current year figures are also looking quite promising, with one estimate moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, increasing from $1.05 per share 30 days ago to $1.53 per share today, an increase of 45.7%.
CVR Refining, LP Price and Consensus
CVR Refining, LP Price and Consensus | CVR Refining, LP Quote
Bottom Line
The stock has also started to move higher lately, adding 15.9% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So, investors may want to consider this Zacks Rank #1 (Strong Buy) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank stocks here.
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