InterOil Corporation (NYSE:IOC) is an independent oil and gas 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 IOC’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 InterOil could be a solid choice for investors.
Current Quarter Estimates for IOC
In the past 30 days, 1 estimate have gone higher for InterOil while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates narrowing from a loss of 40 cents a share 30 days ago, to a loss of 36 cents today, a move of 10%.
Current Year Estimates for IOC
Meanwhile, InterOil’s current year figures are also looking quite promising, with 1 estimate moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, narrowing from a loss of $1.44 per share 30 days ago to a loss of 84 cents per share today, an increase of 41.7%.
Bottom Line
The stock has also started to move higher lately, adding 41.5% 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.
INTEROIL CORP (IOC): Free Stock Analysis Report
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