The Q2 earnings cycle is drawing to a close. As of Aug 5, 433 S&P 500 members, that is almost 87.7% of the index’s total membership, have released quarterly numbers, giving us a clear picture of every sector except Retail, where a sizable number of companies are yet to report results.
Overall, the picture that has emerged shows that we are headed toward the fifth consecutive quarter of negative earnings growth. Encouragingly though, the rate of decline has slowed down modestly from the previous quarter.
For the Technology sector, total earnings are predicted to inch up 0.2% on 2.7% higher revenues, marking a significant improvement over last quarter’s 4.5% earnings decline on a 0.4% improvement in revenues.
Based on the quarterly results of 88.1% of the Technology sector’s total market cap in the index that have been declared as of Aug 5, the industry has outperformed rather remarkably. Total earnings for these companies have dipped 0.8% on 2.4% higher revenues. A whopping 83% beat earnings estimates while 74.5% exceeded top-line expectations, thanks to better-than-expected results of sector giants like Facebook , Google’s parent Alphabet (GOOGL - Free Report) , Apple (AAPL - Free Report) and Microsoft (MSFT - Free Report) .
Within the Technology sector, the Electronics industry’s performance has been encouraging so far, having registered year-over-year earnings growth of 6.1% on 28.3% higher revenues. As of Aug 5, the industry witnessed an 80% beat ratio for both earnings and revenues.
As of the same date, 83.3% of all the companies in the Electronics space, with a combined industry market capitalization of 83.5%, have released earnings, which means that a handful of companies have yet to report quarterly numbers.
Among the companies lining up to report results this week, let’s find out what’s in the cards for these two Electronics stocks when they declare results on Aug 10.
Avnet Inc. (AVT - Free Report) will report fourth-quarter fiscal 2016 results. The company is one of the largest industrial distributors of electronic components and computer products in the world.
For the quarter, Avnet has an Earnings ESP of 0.00% and a Zacks Rank #4 (Sell). The Zacks Consensus Estimate for the quarter is pegged at 83 cents. Last quarter, the company posted a positive earnings surprise of 3.06%. Notably, Avnet has surpassed the Zacks Consensus Estimate in three out of the four preceding quarters with an average positive surprise of 4.45%. (Read more: Avnet Q4 Earnings: What's in the Cards this Time?)
IEC Electronics Corporation is set to report third-quarter fiscal 2016 results. The company, together with its subsidiaries, offers contract manufacturing services across the U.S.
For the quarter, IEC Electronics has an Earnings ESP of -8.33% and a Zacks Rank #2 (Buy). The Zacks Consensus Estimate for the quarter is pegged at 12 cents. Last quarter, the company posted a positive earnings surprise of 40.00%. Notably, IEC Electronics has surpassed the Zacks Consensus Estimate in all of the four preceding quarters with an average positive surprise of 610.00%.
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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 >>
The Q2 earnings cycle is drawing to a close. As of Aug 5, 433 S&P 500 members, that is almost 87.7% of the index’s total membership, have released quarterly numbers, giving us a clear picture of every sector except Retail, where a sizable number of companies are yet to report results.
Overall, the picture that has emerged shows that we are headed toward the fifth consecutive quarter of negative earnings growth. Encouragingly though, the rate of decline has slowed down modestly from the previous quarter.
For the Technology sector, total earnings are predicted to inch up 0.2% on 2.7% higher revenues, marking a significant improvement over last quarter’s 4.5% earnings decline on a 0.4% improvement in revenues.
Based on the quarterly results of 88.1% of the Technology sector’s total market cap in the index that have been declared as of Aug 5, the industry has outperformed rather remarkably. Total earnings for these companies have dipped 0.8% on 2.4% higher revenues. A whopping 83% beat earnings estimates while 74.5% exceeded top-line expectations, thanks to better-than-expected results of sector giants like Facebook , Google’s parent Alphabet (GOOGL - Free Report) , Apple (AAPL - Free Report) and Microsoft (MSFT - Free Report) .
Within the Technology sector, the Electronics industry’s performance has been encouraging so far, having registered year-over-year earnings growth of 6.1% on 28.3% higher revenues. As of Aug 5, the industry witnessed an 80% beat ratio for both earnings and revenues.
As of the same date, 83.3% of all the companies in the Electronics space, with a combined industry market capitalization of 83.5%, have released earnings, which means that a handful of companies have yet to report quarterly numbers.
Among the companies lining up to report results this week, let’s find out what’s in the cards for these two Electronics stocks when they declare results on Aug 10.
Avnet Inc. (AVT - Free Report) will report fourth-quarter fiscal 2016 results. The company is one of the largest industrial distributors of electronic components and computer products in the world.
For the quarter, Avnet has an Earnings ESP of 0.00% and a Zacks Rank #4 (Sell). The Zacks Consensus Estimate for the quarter is pegged at 83 cents. Last quarter, the company posted a positive earnings surprise of 3.06%. Notably, Avnet has surpassed the Zacks Consensus Estimate in three out of the four preceding quarters with an average positive surprise of 4.45%. (Read more: Avnet Q4 Earnings: What's in the Cards this Time?)
IEC Electronics Corporation is set to report third-quarter fiscal 2016 results. The company, together with its subsidiaries, offers contract manufacturing services across the U.S.
For the quarter, IEC Electronics has an Earnings ESP of -8.33% and a Zacks Rank #2 (Buy). The Zacks Consensus Estimate for the quarter is pegged at 12 cents. Last quarter, the company posted a positive earnings surprise of 40.00%. Notably, IEC Electronics has surpassed the Zacks Consensus Estimate in all of the four preceding quarters with an average positive surprise of 610.00%.
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 >>
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