Investors are always looking for stocks that are poised to beat at earnings season and Continental Resources, Inc. may be one such company. The firm has earnings coming up pretty soon, and events are shaping up quite nicely for their report.
That is because Continental is seeing favorable earnings estimate revision activity as of late, which is generally a precursor to an earnings beat. After all, analysts raising estimates right before earnings — with the most up-to-date information possible — is a pretty good indicator of some favorable trends underneath the surface for CLR in this report.
In fact, the Most Accurate Estimate for the current quarter is currently at 52 cents per share for CLR, compared to a broader Zacks Consensus Estimate of 42 cents per share. This suggests that analysts have very recently bumped up their estimates for CLR, giving the stock a Zacks Earnings ESP of +23.18% heading into earnings season.
Why is this Important?
A positive reading for the Zacks Earnings ESP has proven to be very powerful in producing both positive surprises, and outperforming the market. Our recent 10-year backtest shows that stocks that have a positive Earnings ESP and a Zacks Rank #3 (Hold) or better show a positive surprise nearly 70% of the time, and have returned over 28% on average in annual returns (see more Top Earnings ESP stocks here).
Given that CLR has a Zacks Rank #2 (Buy) and an ESP in positive territory, investors might want to consider this stock ahead of earnings. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Clearly, recent earnings estimate revisions suggest that good things are ahead for Continental, and that a beat might be in the cards for the upcoming report.
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Why Earnings Season Could Be Great for Continental (CLR)
Investors are always looking for stocks that are poised to beat at earnings season and Continental Resources, Inc. may be one such company. The firm has earnings coming up pretty soon, and events are shaping up quite nicely for their report.
That is because Continental is seeing favorable earnings estimate revision activity as of late, which is generally a precursor to an earnings beat. After all, analysts raising estimates right before earnings — with the most up-to-date information possible — is a pretty good indicator of some favorable trends underneath the surface for CLR in this report.
In fact, the Most Accurate Estimate for the current quarter is currently at 52 cents per share for CLR, compared to a broader Zacks Consensus Estimate of 42 cents per share. This suggests that analysts have very recently bumped up their estimates for CLR, giving the stock a Zacks Earnings ESP of +23.18% heading into earnings season.
Continental Resources, Inc. Price and EPS Surprise
Continental Resources, Inc. price-eps-surprise | Continental Resources, Inc. Quote
Why is this Important?
A positive reading for the Zacks Earnings ESP has proven to be very powerful in producing both positive surprises, and outperforming the market. Our recent 10-year backtest shows that stocks that have a positive Earnings ESP and a Zacks Rank #3 (Hold) or better show a positive surprise nearly 70% of the time, and have returned over 28% on average in annual returns (see more Top Earnings ESP stocks here).
Given that CLR has a Zacks Rank #2 (Buy) and an ESP in positive territory, investors might want to consider this stock ahead of earnings. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Clearly, recent earnings estimate revisions suggest that good things are ahead for Continental, and that a beat might be in the cards for the upcoming report.
Time to Invest in Legal Marijuana
If you’re looking for big gains, there couldn’t be a better time to get in on a young industry primed to skyrocket from $17.7 billion back in 2019 to an expected $73.6 billion by 2027.
After a clean sweep of 6 election referendums in 5 states, pot is now legal in 36 states plus D.C. Federal legalization is expected soon and that could be a still greater bonanza for investors. Even before the latest wave of legalization, Zacks Investment Research has recommended pot stocks that have shot up as high as +285.9%
You’re invited to check out Zacks’ Marijuana Moneymakers: An Investor’s Guide. It features a timely Watch List of pot stocks and ETFs with exceptional growth potential.
Today, Download Marijuana Moneymakers FREE >>