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Earnings Estimates Moving Higher for Evolution Petroleum (EPM): Time to Buy?

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Evolution Petroleum Corporation (EPM - Free Report) is an oil and natural gas 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 EPM’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 Evolution Petroleum could be a solid choice for investors.

Current Quarter Estimates for EPM

In the past 30 days, one estimate has gone higher for Evolution Petroleum while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 6 cents a share 30 days ago, to 15 cents today, a move of 150%.

Current Year Estimates for EPM

Meanwhile, Evolution Petroleum’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 22 cents per share 30 days ago to 55 cents per share today, an increase of 150%.

Bottom Line

The stock has also started to move higher lately, adding 37.5% 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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