HollyFrontier Corporation (HFC - Free Report) is engaged in refining petroleum 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 HFC’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 HollyFrontier could be a solid choice for investors.
Current Quarter Estimates for HFC
In the past 30 days, five estimates have gone higher for HollyFrontier while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 29 cents a share 30 days ago, to 72 cents today, a significant move.
Current Year Estimates for HFC
Meanwhile, HollyFrontier current year figures are also looking quite promising, with eight 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 $1.66 per share 30 days ago to $2.08 per share today, an increase of 25.3%.
HollyFrontier Corporation Price and Consensus
The stock has also started to move higher lately, adding 15.8% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So, investors may 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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