Surging Earnings Estimates Signal Good News for CONSOL Energy (CNX) - Tale of the Tape
May 06 2014 - 8:58AM
Zacks
CONSOL Energy
Inc. (CNX) is a
company involved in production of coal and natural gas for energy
and raw material markets 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 CNX’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 CONSOL Energy could be a solid choice for
investors.
Current Quarter Estimates for CNX
In the past 30 days, 11 estimates have gone higher for CONSOL
Energy while none have gone lower in the same time period. The
trend has been pretty favorable too, with estimates increasing from
21 cents a share 30 days ago, to 25 cents today, a move of
19.0%.
Current Year Estimates for CNX
Meanwhile, CONSOL Energy’s current year figures are also looking
quite promising, with 12 estimates moving higher in the past month,
compared to a sole estimate moving lower. The consensus estimate
trend has also seen a boost for this time frame, increasing from
$1.02 per share 30 days ago to $1.37 per share today, an increase
of 34.3%.
Bottom Line
The stock has also started to move higher lately, adding 11.13%
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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