Can Exxon Mobil (XOM) Run Higher on Strong Earnings Estimate Revisions?
Exxon Mobil Corporation XOM is a publicly traded international energy 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 XOM’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 Exxon Mobil could be a solid choice for investors.
Current Quarter Estimates for XOM
In the past 30 days, three estimates have gone higher for Exxon Mobil while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing $1.01 a share 30 days ago, to $1.04 today, a move of 3%.
Current Year Estimates for XOM
Meanwhile, Exxon Mobil’s current year figures are also looking quite promising, with three estimates moving higher in the past month, compared to one lower. The consensus estimate trend has also seen a boost for this time frame, increasing from $3.65 a share 30 days ago, to $3.66 today, an increase of 0.3%.
Exxon Mobil Corporation Price and Consensus
Exxon Mobil Corporation Price and Consensus | Exxon Mobil Corporation Quote
Bottom Line
The stock has also started to move higher lately, adding 5.5% 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. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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