DragonWave Inc. (DRWI), a provider of high-capacity packet microwave solutions, is a 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 DRWI’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 DragonWave could be a solid choice for investors.
Current Quarter Estimates for DRWI
In the past 30 days, DragonWave has not seen any estimate revision in either direction. But the trend has been pretty favorable, with estimates narrowing from a loss of 14 cents per share 30 days ago, to a loss of 13 cents a share today, a move of 7.1%.
Current Year Estimates for DRWI
Meanwhile, DragonWave’ current year figures have seen 1 estimate moving higher in the past month, compared to no downward revision. The consensus estimate trend has also seen a boost for this time frame, narrowing from a loss of 40 cents per share 30 days ago to a loss of 36 cents per share today, an increase of 10.0%.
Bottom Line
The stock has also started to move higher lately, adding 67.7% 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 #3 (Hold) stock to profit in the near future.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
To read this article on Zacks.com click here.
Get all Zacks Research Reports and be alerted to fast-breaking buy and sell opportunities every trading day.
Be the first to comment