Surging Earnings Estimates Signal Good News for Electro Scientific (ESIO)
Electro Scientific Industries, Inc. ESIO is a laser-based manufacturing solutions supplier 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, one estimate has 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 7 cents a share 30 days ago, to loss of 4 cents today, a move of 42.8%.
Current Year Estimates for ESIO
Meanwhile, Electro Scientific Industries’ 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, narrowing from a loss of 26 cents per share 30 days ago to a loss of 19 cents per share today, an increase of 26.9%.
Electro Scientific Industries, Inc. Price and Consensus
Electro Scientific Industries, Inc. Price and Consensus | Electro Scientific Industries, Inc. Quote
Bottom Line
The stock has also started to move higher lately, adding 32% 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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Electro Scientific Industries, Inc. (ESIO): Free Stock Analysis Report
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