Looking for a stock that might be in a good position to beat earnings at its next report? Consider Callon Petroleum Company , a firm in the US- Oil Exploration & Production 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, CPE has beaten estimates by at least 100% in both cases, suggesting it has a nice short-term history of crushing expectations.
Earnings in Focus
Two quarters ago, CPE expected to earn 2 cents per share, while it actually produced earnings of 5 cents per share, a beat of 150%. Meanwhile, for the most recent quarter, the company looked to deliver loss of 3 cents per share, when it actually broke even instead, representing a 150% positive surprise.
Thanks in part to this history, recent estimates have been moving higher for Callon Petroleum. In fact, the Earnings ESP for CPE 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 CPE, as the firm currently has a Zacks Earnings ESP of 142.86%, so another beat could be around the corner.
This is particularly true when you consider that CPE has a great Zacks Rank #2 (Buy) which can be a harbinger of outperformance and a signal for a strong earnings profile. And 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 CPE could see another beat at its next report, especially if recent trends are any guide.
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Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Looking for a stock that might be in a good position to beat earnings at its next report? Consider Callon Petroleum Company , a firm in the US- Oil Exploration & Production 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, CPE has beaten estimates by at least 100% in both cases, suggesting it has a nice short-term history of crushing expectations.
Earnings in Focus
Two quarters ago, CPE expected to earn 2 cents per share, while it actually produced earnings of 5 cents per share, a beat of 150%. Meanwhile, for the most recent quarter, the company looked to deliver loss of 3 cents per share, when it actually broke even instead, representing a 150% positive surprise.
Thanks in part to this history, recent estimates have been moving higher for Callon Petroleum. In fact, the Earnings ESP for CPE 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 CPE, as the firm currently has a Zacks Earnings ESP of 142.86%, so another beat could be around the corner.
This is particularly true when you consider that CPE has a great Zacks Rank #2 (Buy) which can be a harbinger of outperformance and a signal for a strong earnings profile. And 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 CPE could see another beat at its next report, especially if recent trends are any guide.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>