Earnings Estimates Moving Higher for Amplify Energy (AMPY): Time to Buy?

Core Viewpoint - Amplify Energy (AMPY) shows a significantly improving earnings outlook, making it a potentially solid investment choice as analysts continue to raise earnings estimates for the company [1]. Earnings Estimates - There is strong consensus among analysts in raising earnings estimates for Amplify Energy, leading to a considerable increase in consensus estimates for the next quarter and the full year [2]. Current-Quarter Estimate Revisions - The expected earnings for the current quarter are $0.34 per share, reflecting a year-over-year increase of +41.67%. Over the last 30 days, one estimate has increased with no negative revisions, resulting in a 36% rise in the Zacks Consensus Estimate [3]. Current-Year Estimate Revisions - For the full year, the earnings estimate stands at $1.35 per share, which is an 86% decrease from the previous year. However, the trend for the current year is positive, with one estimate moving higher and no negative revisions, leading to a 17.39% increase in the consensus estimate [4]. Zacks Rank - Amplify Energy currently holds a Zacks Rank 2 (Buy) due to favorable estimate revisions. The Zacks Rank is a reliable tool for investors to leverage earnings estimate revisions for informed investment decisions [5]. Stock Performance - The stock has increased by 6.1% over the past four weeks due to strong estimate revisions, indicating potential for further upside, suggesting it may be a good addition to investment portfolios [6].