Stonegate Mortgage Corporation (SGM - Snapshot Report) is a non-bank mortgage company which originates, finances, and serves residential mortgage loans, 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 SGM’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 Stonegate could be a solid choice for investors.
Current Quarter Estimates for SGM
The trend has been pretty favorable, with estimates increasing from 10 cents a share 30 days ago, to 12 cents today, a move of 20%.
Current Year Estimates for SGM
The consensus estimate trend has also seen a boost for this time frame, increasing from 9 cents per share 30 days ago to 13 cents per share today, an increase of 44.4%.
The stock has also started to move higher lately, adding 12.2% 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. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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