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Increased Earnings Estimates Seen for Grupo Financiero (GGAL): Can It Move Higher?

Zacks Equity Research

Argentina-based financial holding company, Grupo Financiero Galicia S.A. (GGAL) 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 GGAL’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 Groupo Financiero could be a solid choice for investors.
Current Quarter Estimates for GGAL
In the past 30 days, 1 estimate have gone higher for Groupo Financiero while it had undergone no downward revision during the same time period. The trend has been pretty favorable too, with estimates increasing from 53 cents a share 30 days ago, to 59 today, a move of 12.4%.
Current Year Estimates for GGAL
Meanwhile, Groupo Financiero’s current year figures are also looking quite promising, with 1 estimate moving higher in the past month and no downward revision happening in the same time period. The consensus estimate trend has also seen a boost for this time frame, increasing/narrowing from $2.11 per share 30 days ago to $2.37 per share today, an increase of 12.6%.
Bottom Line
The stock has also started to move higher lately, adding 8.3% 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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GRUPO FINAN GALICIA SA ADS (GGAL): Free Stock Analysis Report

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