Surging Earnings Estimates Signal Good News for Basic Energy Services (BAS)

Basic Energy Services, Inc. (BAS) is a Texas based company which provides well site services to oil and natural gas drilling and producing companies 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 BAS’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 Basic Energy Services could be a solid choice for investors.

Current Quarter Estimates for BAS

In the past 30 days, 6 estimates have gone higher for Basic Energy Services while 1 estimate moved lower in the same time period. The trend has been pretty favorable too, with estimates narrowing from loss of 16 cents a share 30 days ago, to loss of 13 cents today, a move of 18.8%.

Current Year Estimates for BAS

Meanwhile, Basic Energy Services’ current year figures are also looking quite promising, with 7 estimates moving higher in the past month, compared to 1 moving lower. The consensus estimate trend has also seen a boost for this time frame, increasing from loss of 2 cents per share 30 days ago to earnings of 6 cents per share today, a significant improvement.

Bottom Line

The stock has also started to move higher lately, adding 10.17% 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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