Looking for a stock that might be in a good position to beat earnings at its next report? Consider W&T Offshore, Inc. (WTI - Free Report) , a firm in the Oil & Gas – Exploration and 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, WTI has beaten estimates by at least 25% in both cases, suggesting it has a nice short-term history of crushing expectations.
Earnings in Focus
Two quarters ago, WTI expected to post a loss of 67 cents per share, while it actually produced a loss of 47 cents per share, a beat of 29.9%. Meanwhile, for the most recent quarter, the company looked to deliver a loss of 43 cents per share, when it actually posted a loss of 24 cents per share instead, representing a 44.2% positive surprise.
Thanks in part to this history, recent estimates have been moving higher for W&T Offshore. In fact, the Earnings ESP for WTI 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 WTI, as the firm currently has a Zacks Earnings ESP of 42.86%, so another beat could be around the corner.
This is particularly true when you consider that WTI has a great Zacks Rank #2 (Buy) which can be a harbinger of outperformance and a signal for a strong earnings profile. ou can seethe 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 WTI 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.
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Looking for a stock that might be in a good position to beat earnings at its next report? Consider W&T Offshore, Inc. (WTI - Free Report) , a firm in the Oil & Gas – Exploration and 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, WTI has beaten estimates by at least 25% in both cases, suggesting it has a nice short-term history of crushing expectations.
Earnings in Focus
Two quarters ago, WTI expected to post a loss of 67 cents per share, while it actually produced a loss of 47 cents per share, a beat of 29.9%. Meanwhile, for the most recent quarter, the company looked to deliver a loss of 43 cents per share, when it actually posted a loss of 24 cents per share instead, representing a 44.2% positive surprise.
Thanks in part to this history, recent estimates have been moving higher for W&T Offshore. In fact, the Earnings ESP for WTI 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 WTI, as the firm currently has a Zacks Earnings ESP of 42.86%, so another beat could be around the corner.
This is particularly true when you consider that WTI has a great Zacks Rank #2 (Buy) which can be a harbinger of outperformance and a signal for a strong earnings profile. ou can seethe 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 WTI could see another beat at its next report, especially if recent trends are any guide.
The Best Place to Start Your Stock Search
Today, you are invited to download the full, up-to-the-minute list of 220 Zacks Rank #1 ""Strong Buy"" stocks – absolutely free of charge. Since 1988, Zacks Rank #1 stocks have nearly tripled the market, with average gains of +26% per year. Plus, you can access the list of portfolio-killing Zacks Rank #5 ""Strong Sells"" and other private research. See these stocks free >>
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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