Atwoods Oceanics, Inc. (ATW - Free Report) is an offshore drilling contractor 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 ATW’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 Atwoods Oceanics could be a solid choice for investors.
Current Quarter Estimates for ATW
In the past 30 days, 2 estimates have gone higher for Atwoods Oceanics while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 55 cents a share 30 days ago, to 56 cents today, a move of 1.8%.
Current Year Estimates for ATW
Meanwhile, Atwoods Oceanics’ current year figures are also looking quite promising, with 2 estimates moving higher in the past month, while none have gone lower in the same time period. The consensus estimate trend has also seen a boost for this time frame, increasing from $4.58 per share 30 days ago to $4.60 per share today, an increase of 0.4%.
The stock has also started to move higher lately, adding 8.2% 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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