Looking for a stock that might be in a good position to beat earnings at its next report? Consider Devon Energy Corporation (DVN - Free Report) , a firm in the 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, DVN has beaten estimates by at least 10% in both cases, suggesting it has a nice short-term history of crushing expectations.
Earnings in Focus
Two quarters ago, DVN expected to post a loss of 60 cents per share, while it actually produced a loss of 53 cents per share, a beat of 11.7%. Meanwhile, for the most recent quarter, the company looked to deliver a loss of 22 cents/share, when it actually saw earnings of 6 cents/share instead, representing a 127.3% positive surprise.
Thanks in part to this history, recent estimates have been moving higher for Devon Energy. In fact, the Earnings ESP for DVN 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 DVN, as the firm currently has a Zacks Earnings ESP of 600.00%, so another beat could be around the corner.
This is particularly true when you consider that DVN has a great Zacks Rank #1 (Strong 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 DVN 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 Devon Energy Corporation (DVN - Free Report) , a firm in the 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, DVN has beaten estimates by at least 10% in both cases, suggesting it has a nice short-term history of crushing expectations.
Earnings in Focus
Two quarters ago, DVN expected to post a loss of 60 cents per share, while it actually produced a loss of 53 cents per share, a beat of 11.7%. Meanwhile, for the most recent quarter, the company looked to deliver a loss of 22 cents/share, when it actually saw earnings of 6 cents/share instead, representing a 127.3% positive surprise.
Thanks in part to this history, recent estimates have been moving higher for Devon Energy. In fact, the Earnings ESP for DVN 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 DVN, as the firm currently has a Zacks Earnings ESP of 600.00%, so another beat could be around the corner.
This is particularly true when you consider that DVN has a great Zacks Rank #1 (Strong 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 DVN 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 >>
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