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Why Canadian Oil Sands (COSWF) Could Be Positioned for a Surge?

Canadian Oil Sands Limited (COSWF), an oil and gas exploration and production company, 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 COSWF’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 Canadian Oil Sands could be a solid choice for investors.

Current Quarter Estimates for COSWF

In the past 30 days, 1 estimate has gone higher for Canadian Oil Sands while only none moved lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 37 cents a share 30 days ago, to 60 cents today, a move of 62.2%.

Current Year Estimates for COSWF

Meanwhile Canadian Oil Sands’ current year figures are also looking quite promising, with 1 estimate moving higher in the past month against none moving lower. The consensus estimate trend has also seen a boost for this time frame, increasing from$1.96 per share 30 days ago to $2.16 per share today, an increase of 10.2%.

Bottom Line

The stock has also started to move higher lately, adding 8.1% 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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CANADIAN OIL SANDS (COSWF): Free Stock Analysis Report


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