POINT Biopharma is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.Investors are always looking for stocks that are poised to beat at earnings season and POINT Biopharma Global 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 POINT Biopharma 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 PNT in this report.
In fact, the Most Accurate Estimate for the current quarter is currently at a loss of 25 cents per share for PNT, compared to a broader Zacks Consensus Estimate of a loss of 28 cents per share. This suggests that analysts have very recently bumped up their estimates for PNT, giving the stock a Zacks Earnings ESP of +9.64% heading into earnings season.
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 PNT has a Zacks Rank #2(Buy) 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 stocks here.
Clearly, recent earnings estimate revisions suggest that good things are ahead for POINT Biopharma, and that a beat might be in the cards for the upcoming report.
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POINT Biopharma is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.Investors are always looking for stocks that are poised to beat at earnings season and POINT Biopharma Global 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 POINT Biopharma 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 PNT in this report.
In fact, the Most Accurate Estimate for the current quarter is currently at a loss of 25 cents per share for PNT, compared to a broader Zacks Consensus Estimate of a loss of 28 cents per share. This suggests that analysts have very recently bumped up their estimates for PNT, giving the stock a Zacks Earnings ESP of +9.64% heading into earnings season.
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 PNT has a Zacks Rank #2(Buy) 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 stocks here.
Clearly, recent earnings estimate revisions suggest that good things are ahead for POINT Biopharma, and that a beat might be in the cards for the upcoming report.
Free Report Reveals How You Could Profit from the Growing Electric Vehicle Industry
Globally, electric car sales continue their remarkable growth even after breaking records in 2021. High gas prices have fueled his demand, but so has evolving EV comfort, features and technology. So, the fervor for EVs will be around long after gas prices normalize. Not only are manufacturers seeing record-high profits, but producers of EV-related technology are raking in the dough as well. Do you know how to cash in? If not, we have the perfect report for you – and it’s FREE! Today, don't miss your chance to download Zacks' top 5 stocks for the electric vehicle revolution at no cost and with no obligation.
>>Send me my free report on the top 5 EV stocks<<