Looking for a stock that might be in a good position to beat earnings at its next report? Consider CIT Group Inc.’s , a firm in the Financial - Miscellaneous Services industry, which could be a great candidate for another beat.
This company has seen a nice streak of beating earnings estimates, especially when looking at the previous two reports. In fact, in these reports, CIT has beaten estimates by at least 20% in both cases, suggesting it has a nice short-term history of crushing expectations.
Earnings in Focus
Two quarters ago, CIT expected to post earnings of 56 cents per share, while it actually produced earnings of 90 cents per share, a beat of 60.7%. Meanwhile, for the most recent quarter, the company looked to deliver earnings of 84 cents per share, when it actually delivered earnings of $1.02 per share, representing 18.5% positive surprise.
CIT Group Inc Price and EPS Surprise
Thanks in part to this history, recent estimates have been moving higher for CIT Group. In fact, the Earnings ESP for CIT is positive, which is a great sign of a coming beat.
After all, the Zacks Earnings ESP compares the most accurate estimate to the broad consensus, looking to find stocks that have seen big revisions as of late, suggesting that analysts have recently become more bullish on the company’s earnings prospects. This is the case for CIT, as the firm currently has a Zacks Earnings ESP of +1.22%, so another beat could be around the corner.
This is particularly true when you consider that CIT has a great Zacks Rank #2 (Buy) which can be a harbinger of outperformance and a signal for a strong earnings profile. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
When you add this solid Zacks Rank to a positive Earnings ESP, a positive earnings surprise happens nearly 70%of the time, so it seems pretty likely that CIT could see another beat at its next report, especially if recent trends are any guide.
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Can CIT Group (CIT) Keep the Earnings Streak Alive This Quarter?
Looking for a stock that might be in a good position to beat earnings at its next report? Consider CIT Group Inc.’s , a firm in the Financial - Miscellaneous Services industry, which could be a great candidate for another beat.
This company has seen a nice streak of beating earnings estimates, especially when looking at the previous two reports. In fact, in these reports, CIT has beaten estimates by at least 20% in both cases, suggesting it has a nice short-term history of crushing expectations.
Earnings in Focus
Two quarters ago, CIT expected to post earnings of 56 cents per share, while it actually produced earnings of 90 cents per share, a beat of 60.7%. Meanwhile, for the most recent quarter, the company looked to deliver earnings of 84 cents per share, when it actually delivered earnings of $1.02 per share, representing 18.5% positive surprise.
CIT Group Inc Price and EPS Surprise
CIT Group Inc Price and EPS Surprise | CIT Group Inc Quote
Thanks in part to this history, recent estimates have been moving higher for CIT Group. In fact, the Earnings ESP for CIT is positive, which is a great sign of a coming beat.
After all, the Zacks Earnings ESP compares the most accurate estimate to the broad consensus, looking to find stocks that have seen big revisions as of late, suggesting that analysts have recently become more bullish on the company’s earnings prospects. This is the case for CIT, as the firm currently has a Zacks Earnings ESP of +1.22%, so another beat could be around the corner.
This is particularly true when you consider that CIT has a great Zacks Rank #2 (Buy) which can be a harbinger of outperformance and a signal for a strong earnings profile. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
When you add this solid Zacks Rank to a positive Earnings ESP, a positive earnings surprise happens nearly 70%of the time, so it seems pretty likely that CIT could see another beat at its next report, especially if recent trends are any guide.
5 Medical Stocks to Buy Now
Zacks names 5 companies poised to ride a medical breakthrough that is targeting cures for leukemia, AIDS, muscular dystrophy, hemophilia, and other conditions.
New products in this field are already generating substantial revenue and even more wondrous treatments are in the pipeline. Early investors could realize exceptional profits.
Click here to see the 5 stocks >>