Applied Materials, Inc. AMAT is a global provider of manufacturing equipment, services, and software to the semiconductor, display, and related industries 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 AMAT’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 Applied Materials could be a solid choice for investors.
Current Quarter Estimates for AMAT
In the past 30 days, 7 estimates have gone higher for Applied Materials while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates rising from 62 cents a share 30 days ago, to 76 cents per share today, a move of 22.6%.
Current Year Estimates for AMAT
Meanwhile, Applied Materials’ current year figures are also looking quite promising, with 9 estimates moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, rising from $2.41 per share 30 days ago to $2.58 per share today, an increase of 7.1%.
Applied Materials, Inc. Price and Consensus
Applied Materials, Inc. Price and Consensus | Applied Materials, Inc. Quote
Bottom Line
The stock has also started to move higher lately, adding 5.7% 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.
By Zacks Equity Research
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