Approach Resources, Inc. AREX is an independent 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 AREX’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 Approach Resources could be a solid choice for investors.
Current Quarter Estimates for AREX
In the past 30 days, two estimates have gone higher for Approach Resources while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates narrowing from a loss of 8 cents a share 30 days ago, to a loss of 7 cents today, a move of 12.5%.
Current Year Estimates for AREX
Meanwhile, Approach Resources’ current year figures are also looking quite promising, with two estimates 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 38 cents per share 30 days ago to a loss of 36 cents per share today, a move of 5.3%.
Approach Resources Inc. Price and Consensus
Approach Resources Inc. Price and Consensus | Approach Resources Inc. Quote
The stock has also started to move higher lately, adding 17.6% 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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Approach Resources Inc. (AREX) : Free Stock Analysis Report
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