Investment Technology Group, Inc. (NYSE:ITG) , a U.S. based multinational agency brokerage and financial markets technology firm, 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 ITG’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 Investment Technology could be a solid choice for investors.
Current Quarter Estimates for ITG
In the past 30 days, 1 estimate have gone higher for Investment Technology while no estimates have gone lower in the same time period. The trend has been pretty favorable too, with estimates narrowing from a loss of 9 cents a share 30 days ago, to earnings of 5 cents today.
Current Year Estimates for ITG
Meanwhile, Investment Technology’s current year figures are also looking quite promising, with 2 estimates moving higher in the past month, compared to no lower estimates. The consensus estimate trend has also seen a boost for this time frame, narrowing from a loss of 13 cents per share 30 days ago to break-even level per share today.
Bottom Line
The stock has also started to move higher lately, adding 24.3% 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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