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Tech Stocks Earnings Releases Slated on Aug 5: CTSH & SGMS
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Yesterday, some of the technology stocks like Arrow Electronics Inc. (ARW - Free Report) and Paycom Software, Inc. (PAYC - Free Report) released their quarterly numbers. Arrow’s second-quarter 2016 earnings and revenues missed the respective Zacks Consensus Estimate. Paycom’s second-quarter 2016 results, on the other hand, were encouraging, wherein both the top- and bottom line fared better than the Zacks Consensus Estimate.
As the second-quarter earnings cycle draws to a close, the picture that has emerged shows that we are headed toward the fifth consecutive quarter of earnings decline. Encouragingly though, the rate of decline has moderated from the previous quarter.
For the technology sector, total earnings are predicted to decline 0.1% in spite of 2.7% higher revenues, marking an improvement over last quarter’s 4.5% earnings decline irrespective of a 0.4% improvement in revenues.
We now have quarterly results from 84.6% of the technology sector’s total market cap in the index as of Jul 29. Total earnings of these companies have dipped 0.9% despite 2.1% higher revenues, with a whopping 83.3% beating earnings estimates and 77.8% exceeding top-line expectations.
Among the companies slated to report this week, let’s find out what’s in the cards for these two technology stocks scheduled to report second-quarter 2016 results on Aug 5.
Cognizant Technology Solutions Corporation (CTSH - Free Report) delivers high-quality, cost-effective, full life cycle solutions for complex software development and maintenance problems that companies face while transitioning to e-business. The company's solutions include application development and integration, application management, re-engineering, and mass change services. For the quarter, the company has an Earnings ESP of 0.00% and a Zacks Rank #4 (Sell).
The Zacks Consensus Estimate for the quarter is pegged at 73 cents. Last quarter, the company posted a positive earnings surprise of 8.57%. Notably, Cognizant has surpassed the Zacks Consensus Estimate in three out of the last four preceding quarters with an average positive surprise of 4.74%. (Read more: Will Cognizant's Q2 Earnings Offset Sales Woes?)
Scientific Games Corporation is the leading integrated supplier of instant tickets, systems and services to lotteries, and the leading supplier of wagering systems and services to pari-mutuel operators. It is also a licensed pari-mutuel gaming operator in Connecticut and the Netherlands and is a leading supplier of prepaid phone cards to telephone companies. For the quarter, the company has an Earnings ESP of -29.27% and a Zacks Rank #4.
The Zacks Consensus Estimate for the quarter is pegged at a loss of 82 cents. Last quarter, the company posted a negative earnings surprise of 5.94%. Notably, Scientific Games has surpassed the Zacks Consensus Estimate in three out of the last four quarters with an average positive surprise of 4.74%. (Read more: What's in Store for Scientific Games in Q2 Earnings?)
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Tech Stocks Earnings Releases Slated on Aug 5: CTSH & SGMS
Yesterday, some of the technology stocks like Arrow Electronics Inc. (ARW - Free Report) and Paycom Software, Inc. (PAYC - Free Report) released their quarterly numbers. Arrow’s second-quarter 2016 earnings and revenues missed the respective Zacks Consensus Estimate. Paycom’s second-quarter 2016 results, on the other hand, were encouraging, wherein both the top- and bottom line fared better than the Zacks Consensus Estimate.
As the second-quarter earnings cycle draws to a close, the picture that has emerged shows that we are headed toward the fifth consecutive quarter of earnings decline. Encouragingly though, the rate of decline has moderated from the previous quarter.
For the technology sector, total earnings are predicted to decline 0.1% in spite of 2.7% higher revenues, marking an improvement over last quarter’s 4.5% earnings decline irrespective of a 0.4% improvement in revenues.
We now have quarterly results from 84.6% of the technology sector’s total market cap in the index as of Jul 29. Total earnings of these companies have dipped 0.9% despite 2.1% higher revenues, with a whopping 83.3% beating earnings estimates and 77.8% exceeding top-line expectations.
Among the companies slated to report this week, let’s find out what’s in the cards for these two technology stocks scheduled to report second-quarter 2016 results on Aug 5.
Cognizant Technology Solutions Corporation (CTSH - Free Report) delivers high-quality, cost-effective, full life cycle solutions for complex software development and maintenance problems that companies face while transitioning to e-business. The company's solutions include application development and integration, application management, re-engineering, and mass change services. For the quarter, the company has an Earnings ESP of 0.00% and a Zacks Rank #4 (Sell).
The Zacks Consensus Estimate for the quarter is pegged at 73 cents. Last quarter, the company posted a positive earnings surprise of 8.57%. Notably, Cognizant has surpassed the Zacks Consensus Estimate in three out of the last four preceding quarters with an average positive surprise of 4.74%. (Read more: Will Cognizant's Q2 Earnings Offset Sales Woes?)
COGNIZANT TECH Price and EPS Surprise
COGNIZANT TECH Price and EPS Surprise | COGNIZANT TECH Quote
Scientific Games Corporation is the leading integrated supplier of instant tickets, systems and services to lotteries, and the leading supplier of wagering systems and services to pari-mutuel operators. It is also a licensed pari-mutuel gaming operator in Connecticut and the Netherlands and is a leading supplier of prepaid phone cards to telephone companies. For the quarter, the company has an Earnings ESP of -29.27% and a Zacks Rank #4.
The Zacks Consensus Estimate for the quarter is pegged at a loss of 82 cents. Last quarter, the company posted a negative earnings surprise of 5.94%. Notably, Scientific Games has surpassed the Zacks Consensus Estimate in three out of the last four quarters with an average positive surprise of 4.74%. (Read more: What's in Store for Scientific Games in Q2 Earnings?)
SCIENTIFIC GAME Price and EPS Surprise
SCIENTIFIC GAME Price and EPS Surprise | SCIENTIFIC GAME Quote
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