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Cable TV Stocks to Watch for Earnings on Nov 2: SJR, CABO
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The third-quarter earnings season so far has seen better earnings and revenue growth than in the past few quarters. Notably, a larger number of companies are beating Street estimates, with the Finance sector leading the way. Given the rosy earnings picture, this earnings season is on track to be the first quarter to record positive earnings growth after five quarters of back-to-back declines. As per our latest Earnings Preview, aggregate Q3 earnings are now expected to be up 2% from the same period last year on the back of 1.4% higher revenues. Moreover, we expect the trend to continue in the upcoming quarters.
While the initial fears of continued ‘earnings recession’ are gradually dissipating, let us take a look at two cable stocks that are due to report their quarterly numbers on Nov 2.
Shaw Communications, Inc. is Canada's largest broadband and cable service provider. This Zacks Rank #4 (Sell) stock is expected to report its fourth-quarter fiscal 2016 earnings on Nov 2. The stock has an Earnings ESP of 0.00% as both the Most Accurate estimate and the Zacks Consensus Estimate are pegged at 23 cents. Please check our Earnings ESP Filter that enables you to find stocks that are expected to come out with earnings surprises.
According to our proven model, a company needs the right combination of two key ingredients – a positive earnings ESP and a Zacks Rank #3 or better – to increase the odds of an earnings surprise. However, we caution against stocks with a Zacks Rank #4 or 5 (Sell-rated) going into the earnings announcement (read more: Shaw Communications Q4 Earnings: What's in Store?).
Cable ONE, Inc. (CABO - Free Report) provides Internet, cable television and telephone services primarily in the United States. Slated to release third-quarter 2016 results, the company has a combination of a Zacks Rank #3 and an earnings ESP of -3.85%. This is because the Most Accurate estimate currently stands at $4.75 while the Zacks Consensus Estimate is pegged at $4.94. Though the company’s Zacks Rank #3 increases the predictive power of ESP, its negative ESP makes surprise prediction difficult (read more: What's in Store for Cable ONE this Earnings Season?).
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Cable TV Stocks to Watch for Earnings on Nov 2: SJR, CABO
The third-quarter earnings season so far has seen better earnings and revenue growth than in the past few quarters. Notably, a larger number of companies are beating Street estimates, with the Finance sector leading the way. Given the rosy earnings picture, this earnings season is on track to be the first quarter to record positive earnings growth after five quarters of back-to-back declines. As per our latest Earnings Preview, aggregate Q3 earnings are now expected to be up 2% from the same period last year on the back of 1.4% higher revenues. Moreover, we expect the trend to continue in the upcoming quarters.
While the initial fears of continued ‘earnings recession’ are gradually dissipating, let us take a look at two cable stocks that are due to report their quarterly numbers on Nov 2.
Shaw Communications, Inc. is Canada's largest broadband and cable service provider. This Zacks Rank #4 (Sell) stock is expected to report its fourth-quarter fiscal 2016 earnings on Nov 2. The stock has an Earnings ESP of 0.00% as both the Most Accurate estimate and the Zacks Consensus Estimate are pegged at 23 cents. Please check our Earnings ESP Filter that enables you to find stocks that are expected to come out with earnings surprises.
According to our proven model, a company needs the right combination of two key ingredients – a positive earnings ESP and a Zacks Rank #3 or better – to increase the odds of an earnings surprise. However, we caution against stocks with a Zacks Rank #4 or 5 (Sell-rated) going into the earnings announcement (read more: Shaw Communications Q4 Earnings: What's in Store?).
SHAW COMMS-CL B Price and Consensus
SHAW COMMS-CL B Price and Consensus | SHAW COMMS-CL B Quote
Cable ONE, Inc. (CABO - Free Report) provides Internet, cable television and telephone services primarily in the United States. Slated to release third-quarter 2016 results, the company has a combination of a Zacks Rank #3 and an earnings ESP of -3.85%. This is because the Most Accurate estimate currently stands at $4.75 while the Zacks Consensus Estimate is pegged at $4.94. Though the company’s Zacks Rank #3 increases the predictive power of ESP, its negative ESP makes surprise prediction difficult (read more: What's in Store for Cable ONE this Earnings Season?).
CABLE ONE INC Price and Consensus
CABLE ONE INC Price and Consensus | CABLE ONE INC Quote
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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While the above ideas are being shared with the public, other trades are hidden from everyone but selected members. Would you like to peek behind the curtain and view them? Starting today, for the next month, you can follow all Zacks' private buys and sells in real time from value to momentum . . . from stocks under $10 to ETF and option moves . . . from insider trades to companies that are about to report positive earnings surprises (we've called them with 80%+ accuracy). You can even look inside portfolios so exclusive that they are normally closed to new investors. Click here for Zacks' secret trades >>