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Surging Earnings Estimates Signal Good News for SMART Global Holdings (SGH)

Zacks

SMART Global Holdings SGH, a company which designs, manufactures, and supplies specialty memory solutions worldwide, 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 SGH’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 SMART Global Holdings could be a solid choice for investors.

Current Quarter Estimates for SGH

In the past 30 days, four estimates have gone higher for Smart Global Holdings while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 68 cents a share 30 days ago, to 81 cents today, a move of 19.1%.


Current Year Estimates for SGH

Meanwhile, SMART Global Holdings’ current year figures are also looking quite promising, with four estimates moving higher in the past month, compared to nonelower. The consensus estimate trend has also seen a boost for this time frame, increasing/narrowing from $2.74 per share 30 days ago to $3.13 per share today, an increase of 14.2%.

SMART Global Holdings, Inc. Price and Consensus

Bottom Line

The stock has also started to move higher lately, adding 37.9% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So, investors may 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 stocks here.

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