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Surging Earnings Estimates Signal Good News for Orion Engineered Carbons (OEC)

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Orion Engineered Carbons SA (OEC - Free Report) is a Diversified Chemicals industry 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 OEC’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 Orion Engineered Carbons could be a solid choice for investors.
Current Quarter Estimates for OEC
In the past 30 days, 3 estimates have gone higher for Orion Engineered Carbons while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 20 cents a share 30 days ago, to 23 today, a move of 15.0%.
Current Year Estimates for OEC
Meanwhile, Orion Engineered Carbons’ current year figures are also looking quite promising, with 3 estimates moving higher in the past month, compared to no lower. The consensus estimate trend has also seen a boost for this time frame, increasing from 73 cents per share 30 days ago to 85 cents per share today, an increase of 14.1%.
Bottom Line
The stock has also started to move higher lately, adding 7.1% 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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