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Earnings Estimates Moving Higher for Applied Optoelectronics (AAOI): Time to Buy?

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Applied Optoelectronics, Inc. (AAOI - Free Report) is a manufacturer of advanced optical products 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 AAOI’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 Applied Optoelectronics could be a solid choice for investors.

Current Quarter Estimates for AAOI

In the past 30 days, 2 estimates have gone higher for Applied Optoelectronics while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 13 cents a share 30 days ago, to 22 cents today, a move of 69.2%.

Current Year Estimates for AAOI

Meanwhile, Applied Optoelectronics’ 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 37 cents per share 30 days ago to 51 cents per share today, an increase of 37.8%.

APPLIED OPTOELE Price and Consensus


Bottom Line

The stock has also started to move higher lately, adding 22.4% 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 #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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