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Increased Earnings Estimates Seen for CardConnect (CCN): Can It Move Higher?
November 16, 2016

CCN

Trades from $3

CardConnect Corp. (CCN - Free Report) , a provider of payment processing and technology solutions, 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 CCN’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 CardConnect could be a solid choice for investors.

Current Quarter Estimates for CCN

In the past 30 days, 1 estimate have gone higher for CardConnect while no estimates have gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 4 cents a share 30 days ago, to 7 cents today, a move of 75%.

Current Year Estimates for CCN

Meanwhile, CardConnect’s current year figures are also looking quite promising, with 1 estimate moving higher in the past month, compared to no lower estimates. The consensus estimate trend has also seen a boost for this time frame, increasing from 17 cents per share 30 days ago to 26 cents per share today, an increase of 53%.

CARDCONNECT CP Price and Consensus

CARDCONNECT CP Price and Consensus | CARDCONNECT CP Quote

Bottom Line

The stock has also started to move higher lately, adding 5.4% 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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