Can Montrose Environmental (MEG) Run Higher on Rising Earnings Estimates?

Core Viewpoint - Montrose Environmental (MEG) shows a significantly improving earnings outlook, making it a solid investment choice as analysts continue to raise their earnings estimates for the company [1][3]. Estimate Revisions - The upward trend in earnings estimate revisions indicates growing analyst optimism regarding Montrose Environmental's earnings prospects, which is expected to positively impact its stock price [2]. - For the current quarter, the earnings estimate is $0.38 per share, reflecting a decrease of 7.3% from the previous year, but the Zacks Consensus Estimate has increased by 21.43% over the last 30 days [5]. - For the full year, the expected earnings are $1.41 per share, representing a 30.6% increase from the prior year, with three estimates moving higher and no negative revisions, leading to a consensus estimate increase of 186.67% [6][7]. Zacks Rank - Montrose Environmental has achieved a Zacks Rank 1 (Strong Buy) due to favorable estimate revisions, which historically correlate with significant stock performance [8]. - Stocks with Zacks Rank 1 and 2 have been shown to significantly outperform the S&P 500 [8]. Stock Performance - The stock has increased by 31.3% over the past four weeks, indicating strong investor interest and potential for further upside [9].