Investors are always looking for stocks that are poised to beat at earnings season and Earthstone Energy, Inc. may be one such company. The firm has earnings coming up pretty soon, and events are shaping up quite nicely for their report.
That is because Earthstone Energy is seeing favorable earnings estimate revision activity as of late, which is generally a precursor to an earnings beat. After all, analysts raising estimates right before earnings—with the most up-to-date information possible—is a pretty good indicator of some favorable trends underneath the surface for ESTE in this report.
In fact, the Most Accurate Estimate for the current quarter is currently at a loss of 8 cents per share for ESTE, compared to a broader Zacks Consensus Estimate of a loss of 11 cents per share. This suggests that analysts have very recently bumped up their estimates for ESTE, giving the stock a Zacks Earnings ESP of 27.27% heading into earnings season.
EARTHSTONE EGY Price and EPS Surprise
Why is this Important?
A positive reading for the Zacks Earnings ESP has proven to be very powerful in producing both positive surprises, and outperforming the market. Our recent 10 year backtest shows that stocks that have a positive Earnings ESP and a Zacks Rank #3 (Hold) or better show a positive surprise nearly 70% of the time, and have returned over 28% on average in annual returns (see more Top Earnings ESP stocks here).
Given that ESTE has a Zacks Rank #3 (Hold) and an ESP in positive territory, investors might want to consider this stock ahead of earnings. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Clearly, recent earnings estimate revisions suggest that good things are ahead for Earthstone Energy, and that a beat might be in the cards for the upcoming report.
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Beyond this Tale of the Tape, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>
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Why Earnings Season Could Be Great for Earthstone Energy (ESTE)
Investors are always looking for stocks that are poised to beat at earnings season and Earthstone Energy, Inc. may be one such company. The firm has earnings coming up pretty soon, and events are shaping up quite nicely for their report.
That is because Earthstone Energy is seeing favorable earnings estimate revision activity as of late, which is generally a precursor to an earnings beat. After all, analysts raising estimates right before earnings—with the most up-to-date information possible—is a pretty good indicator of some favorable trends underneath the surface for ESTE in this report.
In fact, the Most Accurate Estimate for the current quarter is currently at a loss of 8 cents per share for ESTE, compared to a broader Zacks Consensus Estimate of a loss of 11 cents per share. This suggests that analysts have very recently bumped up their estimates for ESTE, giving the stock a Zacks Earnings ESP of 27.27% heading into earnings season.
EARTHSTONE EGY Price and EPS Surprise
EARTHSTONE EGY Price and EPS Surprise | EARTHSTONE EGY Quote
Why is this Important?
A positive reading for the Zacks Earnings ESP has proven to be very powerful in producing both positive surprises, and outperforming the market. Our recent 10 year backtest shows that stocks that have a positive Earnings ESP and a Zacks Rank #3 (Hold) or better show a positive surprise nearly 70% of the time, and have returned over 28% on average in annual returns (see more Top Earnings ESP stocks here).
Given that ESTE has a Zacks Rank #3 (Hold) and an ESP in positive territory, investors might want to consider this stock ahead of earnings. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Clearly, recent earnings estimate revisions suggest that good things are ahead for Earthstone Energy, and that a beat might be in the cards for the upcoming report.
Confidential from Zacks
Beyond this Tale of the Tape, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>