Unit Corporation (UNT - Free Report) is an oil and natural gas contract drilling 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 UNT’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 Unit Corporation could be a solid choice for investors.
Current Quarter Estimates for UNT
In the past 30 days, 1 estimate has gone higher for Unit Corporation while 1 has gone lower in the same time period. However, the trend has been pretty favorable, with estimates narrowing from a loss of 11 cents a share 30 days ago, to a loss of 9 cents per share today, a move of 18.2%.
Current Year Estimates for UNT
In the past 30 days, 1 estimate has gone higher for Unit Corporation while 1 has gone lower in the same time period. However, the consensus estimate trend has been pretty favorable too, with estimates narrowing from a loss of 73 cents a share 30 days ago, to a loss of 68 cents per share today, a move of 6.8%.
The stock has also started to move higher lately, adding 4.7% 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.
Confidential from Zacks
Beyond this Tale of the Tape, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>