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Wells Fargo & Company (WFC) - free report >>
Brian's Big Idea on Earnings
Another earnings season is right around the corner and it gets kicked off this Friday when we have a number of financial institutions reporting. Brian has a big idea For this earning season and it's to help you find the stocks that are most likely to show a positive earnings surprise.
We start off with JPMorgan Chase (JPM - Free Report) which is a Zacks Rank #3 (Hold) and reports on Friday, April 12 before the market opens. Brian highlights the fact that the company has a market cap of $571 billion and also pays a dividend of 2.3%.
As with all financials, JPM has performed a lot better with higher interest rates. Brian explains that banks will lend at higher rates than they pay depositing customers. With interest rates moving higher for longer the bank stocks have done very well over the last few months.
Citigroug (C - Free Report) is also a Zacks Rank #3 (Hold) and reports on Friday, April 12 before the market opens. The company has a market cap of $118B and has a bigger yield of 3.4%.
Wells Fargo (WFC - Free Report) is a Zacks Rank #3 (Hold) and reports at the same time as the other two big bank stocks. WFC pays a $1.40 dividend and that equates to a 2.4% yield.
Brian notes that all three of these stocks are Zacks Rank #3 (Hold) and that is due to the fact that analysts have not updated their earnings estimates in some time. The Zacks rank only looks at estimate revisions from the last 60 days and oftentimes analysts will only update their model once after the company reports. The last earnings report for these three stocks was 90 days ago.
Brian highlights the Zacks Surprise Trader service that is run by David Bartosiak. David Looks for stocks that have a solid Zacks Rank and a good potential to beat estimates in their upcoming report. The service will generate 2 to 3 ideas per week during earning season and then the editor chooses which stocks he might continue to hold after the beat for the post earnings drift higher. This service is one of the many offered by Zacks Investment Research and it is worth a deeper look.