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Can Kinetik Holdings Inc. (KNTK) Run Higher on Rising Earnings Estimates?
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Kinetik Holdings Inc. (KNTK - Free Report) appears an attractive pick given a noticeable improvement in the company's earnings outlook. The stock has been a strong performer lately, and the momentum might continue with analysts still raising their earnings estimates for the company.
Analysts' growing optimism on the earnings prospects of this company is driving estimates higher, which should get reflected in its stock price. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements. This insight is at the core of our stock rating tool -- the Zacks Rank.
The five-grade Zacks Rank system, which ranges from a Zacks Rank #1 (Strong Buy) to a Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record of outperformance, with Zacks #1 Ranked stocks generating an average annual return of +25% since 2008.
For Kinetik Holdings Inc. Strong agreement among the covering analysts in revising earnings estimates upward has resulted in meaningful improvement in consensus estimates for the next quarter and full year.
Current-Quarter Estimate Revisions
The company is expected to earn $0.69 per share for the current quarter, which represents a year-over-year change of -71.13%.
The Zacks Consensus Estimate for Kinetik Holdings Inc. has increased 102.38% over the last 30 days, as one estimate has gone higher while two have gone lower.
Current-Year Estimate Revisions
For the full year, the company is expected to earn $2.61 per share, representing a year-over-year change of +1234.78%.
There has been an encouraging trend in estimate revisions for the current year as well. Over the past month, one estimate has moved up for Kinetik Holdings Inc. versus one negative revision. This has pushed the consensus estimate 82.3% higher.
Favorable Zacks Rank
The promising estimate revisions have helped Kinetik Holdings Inc. earn a Zacks Rank #2 (Buy). The Zacks Rank is a tried-and-tested rating tool that helps investors effectively harness the power of earnings estimate revisions and make the right investment decision. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Our research shows that stocks with Zacks Rank #1 (Strong Buy) and 2 (Buy) significantly outperform the S&P 500.
Bottom Line
While strong estimate revisions for Kinetik Holdings Inc. have attracted decent investments and pushed the stock 6.9% higher over the past four weeks, further upside may still be left in the stock. So, you may consider adding it to your portfolio right away.
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Can Kinetik Holdings Inc. (KNTK) Run Higher on Rising Earnings Estimates?
Kinetik Holdings Inc. (KNTK - Free Report) appears an attractive pick given a noticeable improvement in the company's earnings outlook. The stock has been a strong performer lately, and the momentum might continue with analysts still raising their earnings estimates for the company.
Analysts' growing optimism on the earnings prospects of this company is driving estimates higher, which should get reflected in its stock price. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements. This insight is at the core of our stock rating tool -- the Zacks Rank.
The five-grade Zacks Rank system, which ranges from a Zacks Rank #1 (Strong Buy) to a Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record of outperformance, with Zacks #1 Ranked stocks generating an average annual return of +25% since 2008.
For Kinetik Holdings Inc. Strong agreement among the covering analysts in revising earnings estimates upward has resulted in meaningful improvement in consensus estimates for the next quarter and full year.
Current-Quarter Estimate Revisions
The company is expected to earn $0.69 per share for the current quarter, which represents a year-over-year change of -71.13%.
The Zacks Consensus Estimate for Kinetik Holdings Inc. has increased 102.38% over the last 30 days, as one estimate has gone higher while two have gone lower.
Current-Year Estimate Revisions
For the full year, the company is expected to earn $2.61 per share, representing a year-over-year change of +1234.78%.
There has been an encouraging trend in estimate revisions for the current year as well. Over the past month, one estimate has moved up for Kinetik Holdings Inc. versus one negative revision. This has pushed the consensus estimate 82.3% higher.
Favorable Zacks Rank
The promising estimate revisions have helped Kinetik Holdings Inc. earn a Zacks Rank #2 (Buy). The Zacks Rank is a tried-and-tested rating tool that helps investors effectively harness the power of earnings estimate revisions and make the right investment decision. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Our research shows that stocks with Zacks Rank #1 (Strong Buy) and 2 (Buy) significantly outperform the S&P 500.
Bottom Line
While strong estimate revisions for Kinetik Holdings Inc. have attracted decent investments and pushed the stock 6.9% higher over the past four weeks, further upside may still be left in the stock. So, you may consider adding it to your portfolio right away.