Atwood Oceanics, Inc. is an offshore drilling contractor 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 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 Atwood Oceanics could be a solid choice for investors.
Current Quarter Estimates for ATW
In the past 30 days, three estimates have gone higher for Atwood Oceanics while one has gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from a loss of 16 cents a share 30 days ago, to a loss of 12 cents a share today, a move of 25%.
Current Year Estimates for ATW
Meanwhile, Atwood Oceanics’s current year figures are also looking quite promising, with three estimates moving higher in the past month, compared to one lower. The consensus estimate trend has also seen a boost for this time frame, increasing from a loss of 66 cents per share 30 days ago to a loss of 55 cents per share today, an increase of 16.7%.
Atwood Oceanics, Inc. Price and Consensus
The stock has also started to move higher lately, adding 12.4% 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 #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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