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Business Services Stocks Feb 18 Earnings Roster: CPRT, WM and More
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The fourth-quarter earnings so far and projections for the full cycle for the Zacks Business Services sector seem reflective of the continued pandemic-induced weakness.
Though the improving economy, and expanding manufacturing and non-manufacturing activities have helped in the gradual recovery of this diversified sector through the quarter, it remains significantly weak when compared with the pre-pandemic level, especially due to weakness in spaces like accommodation, food services, entertainment, recreation, rental and leasing.
The latest Earnings Outlook suggests that earnings in total for those S&P 500 members of the business services sector, that have reported results, have slipped 2.8% year over year on a 3.3% revenue decline. Though some of the major S&P 500 players, such as Robert Half International (RHI - Free Report) , FLEETCOR and Aptiv (APTV - Free Report) , have delivered earnings beats, their top and bottom lines have declined year over year.
Total quarterly earnings for the S&P 500 members of the sector are currently anticipated to display a 1.6% year-on-year drop on an estimated 2.2% revenue fall. This compares favorably with the 3.6% and 3.9% decline in earnings and revenues in the third quarter, respectively.
Sneak Peek into Upcoming Earnings Releases
Here we discuss four business services companies, scheduled to report quarterly results on Feb 18.
Our quantitative model suggests that a company needs the right combination of the two key ingredients — a positive Earnings ESP and a Zacks Rank #3 (Hold) or better — to increase the odds of a positive earnings surprise. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Copart, Inc. (CPRT - Free Report) :This online auctions and vehicle remarketing services provider is scheduled to release second-quarter fiscal 2021 earnings after the bell.
The Zacks Consensus Estimate for revenues is pegged at $630.6 million, indicating growth of 9.7% from the year-ago quarter's reported figure. The consensus estimate for earnings stands at 79 cents, calling for a year-over-year increase of 21.5%.
Copart has an Earnings ESP of 0.00% and carries a Zacks Rank #3, currently.
Waste Management, Inc. (WM - Free Report) : This waste management environmental services provider is set to release fourth-quarter 2020 results before the bell.
The Zacks Consensus Estimate of $4 billion for Waste Management’s revenues suggests a 3.5% increase from the year-ago reported figure. The consensus estimate for earnings of $1.07 indicates a 10.1% decline from the prior-year reported number.
Ritchie Bros. Auctioneers Incorporated (RBA - Free Report) : This asset management and disposition company will release fourth-quarter 2020 results after the bell.
The Zacks Consensus Estimate for revenues of $369.5 million calls for an 11.2% increase from the year-ago reported figure. Likewise, the consensus mark for earnings of 52 cents indicates a 18.2% increase from the prior-year reported number.
Ritchie Bros has an Earnings ESP of -7.10% and currently holds a Zacks Rank of 3.
Ritchie Bros. Auctioneers Incorporated Price and EPS Surprise
Rackspace Technology, Inc. (RXT - Free Report) : This multi-cloud technology services company will announce fourth-quarter 2020 earnings after market close.
The Zacks Consensus Estimate for Rackspace’s revenues of $706.7 million suggests a 3.7% sequential increase. Likewise, the consensus mark for earnings of 23 cents indicates a 21.1% jump, quarter on quarter.
Rackspace has an Earnings ESP of +1.47% and presently carries a Zacks Rank of 3.
The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.
Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.
Image: Bigstock
Business Services Stocks Feb 18 Earnings Roster: CPRT, WM and More
The fourth-quarter earnings so far and projections for the full cycle for the Zacks Business Services sector seem reflective of the continued pandemic-induced weakness.
Though the improving economy, and expanding manufacturing and non-manufacturing activities have helped in the gradual recovery of this diversified sector through the quarter, it remains significantly weak when compared with the pre-pandemic level, especially due to weakness in spaces like accommodation, food services, entertainment, recreation, rental and leasing.
The latest Earnings Outlook suggests that earnings in total for those S&P 500 members of the business services sector, that have reported results, have slipped 2.8% year over year on a 3.3% revenue decline. Though some of the major S&P 500 players, such as Robert Half International (RHI - Free Report) , FLEETCOR and Aptiv (APTV - Free Report) , have delivered earnings beats, their top and bottom lines have declined year over year.
Total quarterly earnings for the S&P 500 members of the sector are currently anticipated to display a 1.6% year-on-year drop on an estimated 2.2% revenue fall. This compares favorably with the 3.6% and 3.9% decline in earnings and revenues in the third quarter, respectively.
Sneak Peek into Upcoming Earnings Releases
Here we discuss four business services companies, scheduled to report quarterly results on Feb 18.
Our quantitative model suggests that a company needs the right combination of the two key ingredients — a positive Earnings ESP and a Zacks Rank #3 (Hold) or better — to increase the odds of a positive earnings surprise. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Copart, Inc. (CPRT - Free Report) :This online auctions and vehicle remarketing services provider is scheduled to release second-quarter fiscal 2021 earnings after the bell.
The Zacks Consensus Estimate for revenues is pegged at $630.6 million, indicating growth of 9.7% from the year-ago quarter's reported figure. The consensus estimate for earnings stands at 79 cents, calling for a year-over-year increase of 21.5%.
Copart has an Earnings ESP of 0.00% and carries a Zacks Rank #3, currently.
You can see the complete list of today’s Zacks #1 Rank stocks here.
Copart, Inc. Price and EPS Surprise
Copart, Inc. price-eps-surprise | Copart, Inc. Quote
Waste Management, Inc. (WM - Free Report) : This waste management environmental services provider is set to release fourth-quarter 2020 results before the bell.
The Zacks Consensus Estimate of $4 billion for Waste Management’s revenues suggests a 3.5% increase from the year-ago reported figure. The consensus estimate for earnings of $1.07 indicates a 10.1% decline from the prior-year reported number.
Waste Management has an Earnings ESP of -7.86% and carries a Zacks Rank #3, at present. (Read more: What's in Store for Waste Management (WM - Free Report) in Q4 Earnings?)
Waste Management, Inc. Price and EPS Surprise
Waste Management, Inc. price-eps-surprise | Waste Management, Inc. Quote
Ritchie Bros. Auctioneers Incorporated (RBA - Free Report) : This asset management and disposition company will release fourth-quarter 2020 results after the bell.
The Zacks Consensus Estimate for revenues of $369.5 million calls for an 11.2% increase from the year-ago reported figure. Likewise, the consensus mark for earnings of 52 cents indicates a 18.2% increase from the prior-year reported number.
Ritchie Bros has an Earnings ESP of -7.10% and currently holds a Zacks Rank of 3.
Ritchie Bros. Auctioneers Incorporated Price and EPS Surprise
Ritchie Bros. Auctioneers Incorporated price-eps-surprise | Ritchie Bros. Auctioneers Incorporated Quote
Rackspace Technology, Inc. (RXT - Free Report) : This multi-cloud technology services company will announce fourth-quarter 2020 earnings after market close.
The Zacks Consensus Estimate for Rackspace’s revenues of $706.7 million suggests a 3.7% sequential increase. Likewise, the consensus mark for earnings of 23 cents indicates a 21.1% jump, quarter on quarter.
Rackspace has an Earnings ESP of +1.47% and presently carries a Zacks Rank of 3.
Rackspace Technology, Inc. Price and EPS Surprise
Rackspace Technology, Inc. price-eps-surprise | Rackspace Technology, Inc. Quote
These Stocks Are Poised to Soar Past the Pandemic
The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.
Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.
See the 5 high-tech stocks now>>