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Surging Earnings Estimates Signal Good News for Ring Energy (REI)

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Ring Energy, Inc. (REI - Free Report) is an exploration and production company engaged in oil and natural gas development 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 REI’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 Ring Energy could be a solid choice for investors.

Current Quarter Estimates for REI

In the past 30 days, estimates for Ring Energy moved from a loss of a penny per share to earnings of 4 cents, which is a significant move.

Current Year Estimates for REI

Meanwhile, Ring Energy’s 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, increasing from 8 cents per share 30 days ago to 14 cents per share today, an increase of 75%.

Bottom Line

The stock has also started to move higher lately, adding 42.3% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So, investors may want to consider this Zacks Rank #2 (Buy) 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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