We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Oil Stocks to Watch for Earnings on Jul 20: CLB, FTI, HAL
Read MoreHide Full Article
The Q2 earnings season has just begun and we are yet to get a clear picture of the overall market conditions. However, the prospects of the energy sector do not seem too bright at the moment. So far, only 36 of the S&P 500 companies have reported results. This accounts for 10.1% of the index’s total market capitalization. Notably, the total earnings for these 36 companies has fallen 3.9% from the year-ago period due to a 0.1% dip in revenues. Nevertheless, the quarterly results of 66.7% of these companies beat earnings per share (EPS) estimates, while 41.7% topped revenue expectations.
The energy sector has been a drag on the overall market over the past few quarters and the situation is unlikely to change even in Q2. Per the Earnings Trend report, the general outlook is bearish as the sector is expected to register a massive 77.1% year-over-year decrease in earnings due to a 25.7% plunge in revenues. Excluding the impact of the energy sector, the S&P 500 index would witness negative earnings growth of 2.1%.
However, the market conditions can be better assessed after oil & gas drilling industry heavyweights like Schlumberger Ltd. (SLB - Free Report) report their Q2 results this week. Here, we have compiled a list of three players from the broader energy space that are expected to report quarterly numbers on Jul 20, 2016.
Core Laboratories NV (CLB - Free Report) is expected to release Q2 numbers on Jul 20. The oilfield services provider seems to be well poised for robust results this quarter. According to our quantitative model, the company has the right combination of two key ingredients – a positive Earnings ESP and a favorable Zacks Rank – that increases its odds of a positive earnings surprise. Core Laboratories has an Earnings ESP of +2.86% as the Most Accurate estimate is pegged at 36 cents, while the Zacks Consensus Estimate stands at 35 cents. The company has a Zacks Rank # 3 (Hold).
Note that stocks with Zacks Ranks #1 (Strong Buy), 2 (Hold) or 3 have a significantly higher chance of beating earnings. Conversely, we caution against Sell-rated stocks (Zacks Rank #4 or 5) going into the earnings announcement, especially when the company is seeing negative estimate revisions.
FMC Technologies, Inc. (FTI - Free Report) is set to release fiscal Q2 results on Jul 20. The company has a Zacks Rank #3 but an Earnings ESP of -10.00%. Though a favorable Zacks Rank increases the predictive power of ESP, the company’s negative ESP makes surprise prediction difficult.
In the preceding three-month period, the Houston, TX-based company delivered a negative earnings surprise of 12.44%. The underperformance is attributable to a sharp decline in activity and the ongoing pricing pressure as exploration and production companies further adjust their spending to combat the freefall in commodity prices. (Read more: FMC Technologies Q2 Earnings: A Surprise in Store?)
Halliburton Company (HAL - Free Report) is slated to release Q2 results on Jul 20. The company has a Zacks Rank #3 but an Earnings ESP of -16.67%. It is to be noted that weak oilfield service activities following lower U.S. drilling rigs are likely to hurt Halliburton’s results.
Last quarter, the company posted a positive earnings surprise of 75.00%. In fact, Halliburton has a positive four-quarter average earnings surprise of 42.68%. (Read more:What's in Store for Halliburton this Earnings Season?)
Don’t miss out on our full earnings release articles for these two oil refining stocks, as the actual results might hold some surprises!
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 >>
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Oil Stocks to Watch for Earnings on Jul 20: CLB, FTI, HAL
The Q2 earnings season has just begun and we are yet to get a clear picture of the overall market conditions. However, the prospects of the energy sector do not seem too bright at the moment. So far, only 36 of the S&P 500 companies have reported results. This accounts for 10.1% of the index’s total market capitalization. Notably, the total earnings for these 36 companies has fallen 3.9% from the year-ago period due to a 0.1% dip in revenues. Nevertheless, the quarterly results of 66.7% of these companies beat earnings per share (EPS) estimates, while 41.7% topped revenue expectations.
The energy sector has been a drag on the overall market over the past few quarters and the situation is unlikely to change even in Q2. Per the Earnings Trend report, the general outlook is bearish as the sector is expected to register a massive 77.1% year-over-year decrease in earnings due to a 25.7% plunge in revenues. Excluding the impact of the energy sector, the S&P 500 index would witness negative earnings growth of 2.1%.
However, the market conditions can be better assessed after oil & gas drilling industry heavyweights like Schlumberger Ltd. (SLB - Free Report) report their Q2 results this week. Here, we have compiled a list of three players from the broader energy space that are expected to report quarterly numbers on Jul 20, 2016.
Core Laboratories NV (CLB - Free Report) is expected to release Q2 numbers on Jul 20. The oilfield services provider seems to be well poised for robust results this quarter. According to our quantitative model, the company has the right combination of two key ingredients – a positive Earnings ESP and a favorable Zacks Rank – that increases its odds of a positive earnings surprise. Core Laboratories has an Earnings ESP of +2.86% as the Most Accurate estimate is pegged at 36 cents, while the Zacks Consensus Estimate stands at 35 cents. The company has a Zacks Rank # 3 (Hold).
CORE LABS NV Price and EPS Surprise
CORE LABS NV Price and EPS Surprise | CORE LABS NV Quote
Note that stocks with Zacks Ranks #1 (Strong Buy), 2 (Hold) or 3 have a significantly higher chance of beating earnings. Conversely, we caution against Sell-rated stocks (Zacks Rank #4 or 5) going into the earnings announcement, especially when the company is seeing negative estimate revisions.
FMC Technologies, Inc. (FTI - Free Report) is set to release fiscal Q2 results on Jul 20. The company has a Zacks Rank #3 but an Earnings ESP of -10.00%. Though a favorable Zacks Rank increases the predictive power of ESP, the company’s negative ESP makes surprise prediction difficult.
In the preceding three-month period, the Houston, TX-based company delivered a negative earnings surprise of 12.44%. The underperformance is attributable to a sharp decline in activity and the ongoing pricing pressure as exploration and production companies further adjust their spending to combat the freefall in commodity prices. (Read more: FMC Technologies Q2 Earnings: A Surprise in Store?)
FMC TECH INC Price and EPS Surprise
FMC TECH INC Price and EPS Surprise | FMC TECH INC Quote
Halliburton Company (HAL - Free Report) is slated to release Q2 results on Jul 20. The company has a Zacks Rank #3 but an Earnings ESP of -16.67%. It is to be noted that weak oilfield service activities following lower U.S. drilling rigs are likely to hurt Halliburton’s results.
Last quarter, the company posted a positive earnings surprise of 75.00%. In fact, Halliburton has a positive four-quarter average earnings surprise of 42.68%. (Read more:What's in Store for Halliburton this Earnings Season?)
HALLIBURTON CO Price and EPS Surprise
HALLIBURTON CO Price and EPS Surprise | HALLIBURTON CO Quote
Don’t miss out on our full earnings release articles for these two oil refining stocks, as the actual results might hold some surprises!
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 >>