SFY: Zachs like it

dan_s · Post by **dan_s** » Sat Feb 08, 2014 5:32 pm

By Zacks Equity Research February 7, 2014 8:51 AM
Many investors appear to be quite bearish Swift Energy Company (SFY) especially if you look at the percentage of the float that is sold short for this stock. Currently, 32.8% of the float is sold short, suggesting an extreme level of bearishness for SFY.

However, it is worth noting that earnings estimates have actually been moving higher for the company, despite the pessimism. Thanks to these rising estimates, we actually have a Zacks Rank #1 (Strong Buy) on SFY, so we clearly don’t believe in the negativity surrounding this firm, and are instead looking for shares of SFY to move higher in the weeks ahead.
----------------------------
In the last 30 days, 12 of the 13 analysts that cover SFY have raised their EPS forecast for this small-cap E&P. Earnings forecast for 2014 range from $0.30 to $0.74. My EPS forecast for 2014 is $0.59 (compared to the First Call estimate of $0.60).

A good price for their Louisiana asset package should send the Shorts running.