From BiblePortal Wikipedia

Webster's Dictionary [1]

(1): ( v. t.) Favorable opinion; esteem; regard; honor.

(2): ( v. t.) The act of estimating.

(3): ( v. t.) An opinion or judgment of the worth, extent, or quantity of anything, formed without using precise data; valuation; as, estimations of distance, magnitude, amount, or moral qualities.

(4): ( v. t.) Supposition; conjecture.

King James Dictionary [2]

Estima'Tion, n. L. oestimatio. The act of estimating.

1. Calculation computation an opinion or judgment of the worth, extent or quantity of any thing, formed without using precise data. We may differ in our estimations of distance, magnitude or amount, and no less in our estimation of moral qualities. 1. Esteem regard favorable opinion honor.

I shall have estimation among the multitude, and honor with the elders.