Resolute Forest Products Inc. (RFP) is a paper and related products 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 RFP’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 Resolute Forest Products could be a solid choice for investors.
Current Quarter Estimates for RFP
In the past 30 days, 1 estimate has gone higher for Resolute Forest Products with no downward revision in the same time period. The trend has been pretty favorable too, with estimates increasing from 24 cents a share 30 days ago, to 27 today, a move of 12.5%.
Current Year Estimates for RFP
Meanwhile, Resolute Forest Products’ current year figures are also looking quite promising, with 1 estimate moving higher in the past month though 1 estimate moved lower. The consensus estimate trend has also seen a boost for this time frame, increasing from 34 cents per share 30 days ago to 39 cents per share today, an increase of 14.7%.
Bottom Line
The stock has also started to move higher lately, adding 8.6% 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.
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