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Why Ritchie Bros. (RBA) Might Surprise This Earnings Season
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Investors are always looking for stocks that are poised to beat at earnings season and Ritchie Bros. Auctioneers Incorporated (RBA - Free Report) 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 Ritchie Bros. 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 RBA in this report.
In fact, the Most Accurate Estimate for the current quarter is currently at 27 cents per share for RBA, compared to a broader Zacks Consensus Estimate of 24 cents per share. This suggests that analysts have very recently bumped up their estimates for RBA, giving the stock a Zacks Earnings ESP of +14.22% heading into earnings season.
Ritchie Bros. Auctioneers Incorporated Price and EPS Surprise
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).
Clearly, recent earnings estimate revisions suggest that good things are ahead for Ritchie Bros., and that a beat might be in the cards for the upcoming report.
+1,500% Growth: One of 2021’s Most Exciting Investment Opportunities
In addition to the stocks you read about above, would you like to see Zacks’ top picks to capitalize on the Internet of Things (IoT)? It is one of the fastest-growing technologies in history, with an estimated 77 billion devices to be connected by 2025. That works out to 127 new devices per second.
Zacks has released a special report to help you capitalize on the Internet of Things’s exponential growth. It reveals 4 under-the-radar stocks that could be some of the most profitable holdings in your portfolio in 2021 and beyond.
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Why Ritchie Bros. (RBA) Might Surprise This Earnings Season
Investors are always looking for stocks that are poised to beat at earnings season and Ritchie Bros. Auctioneers Incorporated (RBA - Free Report) 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 Ritchie Bros. 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 RBA in this report.
In fact, the Most Accurate Estimate for the current quarter is currently at 27 cents per share for RBA, compared to a broader Zacks Consensus Estimate of 24 cents per share. This suggests that analysts have very recently bumped up their estimates for RBA, giving the stock a Zacks Earnings ESP of +14.22% heading into earnings season.
Ritchie Bros. Auctioneers Incorporated Price and EPS Surprise
Ritchie Bros. Auctioneers Incorporated price-eps-surprise | Ritchie Bros. Auctioneers Incorporated 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 RBA has a Zacks Rank #3 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 Ritchie Bros., and that a beat might be in the cards for the upcoming report.
+1,500% Growth: One of 2021’s Most Exciting Investment Opportunities
In addition to the stocks you read about above, would you like to see Zacks’ top picks to capitalize on the Internet of Things (IoT)? It is one of the fastest-growing technologies in history, with an estimated 77 billion devices to be connected by 2025. That works out to 127 new devices per second.
Zacks has released a special report to help you capitalize on the Internet of Things’s exponential growth. It reveals 4 under-the-radar stocks that could be some of the most profitable holdings in your portfolio in 2021 and beyond.
Click here to download this report FREE >>