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Construction Stocks' Q3 Earnings to Watch on Oct 28: WY, GVA
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Beginning 2016, the construction in the U.S. has been improving steadily, as evident from approximately 4.9% increase in year-to-date construction spending in August. Per the U.S. Census Bureau report, spending in residential construction grew 6.2%, while that in nonresidential construction expanded 4%. Private spending has increased 7% while public spending is believed to have fallen 1.3%.
Below we briefly discuss Construction, one of the 16 broad Zacks sectors’ earnings trend so far in the third quarter of 2016.
Per the latest Earnings Trends report, roughly 46.2% of Construction stocks that reported their results as of Oct 26 recorded an 8% increase in earnings and 9.4% growth in revenue. Considering the results of all Construction stocks in the S&P 500 Group, earnings for the sector are predicted to increase 6.7%, while revenue will improve by 7.1%.
What’s in Store for 2 Construction Stocks, WY, GV, for Third-Quarter 2016?
Below we discuss briefly the expectations from the results for two construction stocks scheduled to report tomorrow.
Weyerhaeuser Co. (WY - Free Report) : This building products company is slated to release its results after the market closes. The company’s financial performance was better-than-expected in three of four trailing quarters, while it lagged estimates in one. Average earnings surprise was a positive 8.66%.
Our proven model does not conclusively show that Weyerhaeuser will be able to pull an earnings surprise this quarter as it currently carries a Zacks Rank #2 (Buy) and a 0.00% Earnings ESP (the percentage difference between the Most Accurate estimate and the Zacks Consensus Estimate). Please check our Earnings ESP Filter that enables you to find stocks that are expected to come out with earnings surprises.
For a possible earnings beat, the company should have the right combination of two key ingredients – a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), #2 or #3 (Hold). You can see the complete list of today’s Zacks #1 Rank stocks here.
Granite Construction Incorporated (GVA - Free Report) : This construction company is anticipated to release its results before the market opens. Having posted lower-than-expected results in three of four trailing quarters and exceeding expectations in one, the company’s average earnings surprise was a negative 34.92%.
Our proven model does not conclusively show that Granite Construction will likely beat earnings this quarter because it currently carries a Zacks Rank #3 and 0.00% Earnings ESP. Over the last 60 days, the Zacks Consensus Estimate for the stock has remained stable at 94 cents for the third quarter.
Stay tuned! Check back on our full write-up on earnings release of Weyerhaeuser Co.
Where Do Zacks' Investment Ideas Come From?
You are welcome to download the full, up-to-the-minute list of 220 Zacks Rank #1 ""Strong Buy"" stocks free of charge. There is no better place to start your own stock search. Plus you can access the full list of must-avoid Zacks Rank #5 ""Strong Sells"" and other private research. See the stocks free >>
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Construction Stocks' Q3 Earnings to Watch on Oct 28: WY, GVA
Beginning 2016, the construction in the U.S. has been improving steadily, as evident from approximately 4.9% increase in year-to-date construction spending in August. Per the U.S. Census Bureau report, spending in residential construction grew 6.2%, while that in nonresidential construction expanded 4%. Private spending has increased 7% while public spending is believed to have fallen 1.3%.
Below we briefly discuss Construction, one of the 16 broad Zacks sectors’ earnings trend so far in the third quarter of 2016.
Per the latest Earnings Trends report, roughly 46.2% of Construction stocks that reported their results as of Oct 26 recorded an 8% increase in earnings and 9.4% growth in revenue. Considering the results of all Construction stocks in the S&P 500 Group, earnings for the sector are predicted to increase 6.7%, while revenue will improve by 7.1%.
What’s in Store for 2 Construction Stocks, WY, GV, for Third-Quarter 2016?
Below we discuss briefly the expectations from the results for two construction stocks scheduled to report tomorrow.
Weyerhaeuser Co. (WY - Free Report) : This building products company is slated to release its results after the market closes. The company’s financial performance was better-than-expected in three of four trailing quarters, while it lagged estimates in one. Average earnings surprise was a positive 8.66%.
WEYERHAEUSER CO Price and EPS Surprise
WEYERHAEUSER CO Price and EPS Surprise | WEYERHAEUSER CO Quote
Our proven model does not conclusively show that Weyerhaeuser will be able to pull an earnings surprise this quarter as it currently carries a Zacks Rank #2 (Buy) and a 0.00% Earnings ESP (the percentage difference between the Most Accurate estimate and the Zacks Consensus Estimate). Please check our Earnings ESP Filter that enables you to find stocks that are expected to come out with earnings surprises.
For a possible earnings beat, the company should have the right combination of two key ingredients – a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), #2 or #3 (Hold). You can see the complete list of today’s Zacks #1 Rank stocks here.
Over the last 60 days, the Zacks Consensus Estimate for the stock has decreased 8.3% to 22 cents per share. (For more please read: Weyerhaeuser to Report Q3 Earnings: What to Expect?)
Granite Construction Incorporated (GVA - Free Report) : This construction company is anticipated to release its results before the market opens. Having posted lower-than-expected results in three of four trailing quarters and exceeding expectations in one, the company’s average earnings surprise was a negative 34.92%.
GRANITE CONSTRU Price and EPS Surprise
GRANITE CONSTRU Price and EPS Surprise | GRANITE CONSTRU Quote
Our proven model does not conclusively show that Granite Construction will likely beat earnings this quarter because it currently carries a Zacks Rank #3 and 0.00% Earnings ESP. Over the last 60 days, the Zacks Consensus Estimate for the stock has remained stable at 94 cents for the third quarter.
Stay tuned! Check back on our full write-up on earnings release of Weyerhaeuser Co.
Where Do Zacks' Investment Ideas Come From?
You are welcome to download the full, up-to-the-minute list of 220 Zacks Rank #1 ""Strong Buy"" stocks free of charge. There is no better place to start your own stock search. Plus you can access the full list of must-avoid Zacks Rank #5 ""Strong Sells"" and other private research. See the stocks free >>