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Can Newcastle Investment (NCT) Run Higher on Strong Earnings Estimate Revisions? - Tale of the Tape

Zacks Equity Research
Updated

Newcastle Investment Corp. (NCT) is a Real Estate Investment Trust – Diversified 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 NCT’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 Newcastle Investment could be a solid choice for investors.

Current Quarter Estimates for NCT

In the past 30 days, 1 estimate has gone higher for Newcastle Investment while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 3 cents a share 30 days ago, to 5 cents a share today, a move of 66.7%.

Current Year Estimates for NCT

Meanwhile, Newcastle Investment’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, increasing from 56 cents per share 30 days ago to 65 cents per share today, an increase of 16.1%.

Bottom Line

The stock has also started to move higher lately, adding 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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Zacks Investment Research