McDermott International Inc. (MDR - Free Report) is one of the leading worldwide energy services companies 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 MDR’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 McDermott could be a solid choice for investors.
Current Quarter Estimates for MDR
In the past 30 days, 4 estimates have gone higher for McDermott while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates narrowing from a loss of 3 cents a share 30 days ago, to a loss of 1 cent today, a move of 66.7%.
Current Year Estimates for MDR
Meanwhile, McDermott’s current year figures are also looking quite promising, with 4 estimates moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, increasing from 13 cents per share 30 days ago to 31 cents per share today, an increase of over 100%.
The stock has also started to move higher lately, adding 14.9% 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 #1 (Strong 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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