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Finance Stocks' Earnings Scheduled on Nov 10: MFC and CCP
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The third-quarter 2016 earnings for the Finance sector is in its last phase. Most of the industry participants have reported better-than-expected results so far. The sector, as a whole, witnessed a significant improvement in performance, despite a challenging operating environment.
Per the latest Earnings Preview, nearly 99% of the S&P 500 companies in the Finance sector reported results for the third quarter as of Nov 4, 2016. Total earnings for these companies increased 12.7% year over year on a revenue improvement of 6.7%. Notably, 73% companies surpassed the bottom-line expectations and 75.3% beat on the top line.
In fact, overall earnings for the S&P 500 stocks in the Finance sector are projected to be up 11.8% year over year in the third quarter. This compares favorably with a 5.2% decline in the prior quarter.
Recovery in oil prices and improving domestic economic factors chiefly contributed to the sector’s recovery. Additionally, a recovering housing market and an improving labor market acted in favor of the sector.
On the other hand, global concerns and a persistent low interest rate environment were the undermining factors.
Let’s take a look at the two finance stocks that are slated to report their third-quarter 2016 earnings on Nov 10.
Manulife Financial Corporation (MFC - Free Report) : The Zacks Consensus Estimate for the stock for the current year has remained stable ahead of its earnings release. The estimate of $1.34 per share reflects year-over-year growth of 2.54%.
Further, based on our proven model, Manulife Financial is less likely to beat the Zacks Consensus Estimate in the forthcoming release, as it carries a Zacks Rank #4 (Sell) and an Earnings ESP of 0.00%.
Our quantitative model highlights those stocks that have the combination of a positive Earnings ESP and a favorable Zacks Rank – Zacks Rank #1, #2 (Buy) or #3 (Hold) – for an earnings surprise call. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Moreover, the company does not boast a decent earnings surprise history. The stock lagged the Zacks Consensus Estimate in two of the trailing four quarters, recording an average negative earnings surprise of 2.8%.
Care Capital Properties, Inc. : The Zacks Consensus Estimate for the stock for the current year has remained constant ahead of its earnings release. The estimate of $3.03 per share reflects a year-over-year decline of 11.4%.
Also, the stock is less likely to beat the Zacks Consensus Estimate in the to-be-reported quarter, as it carries a Zacks Rank #3 and an Earnings ESP of 0.00%.
Moreover, the company does not have a track record of earnings surprise history over the trailing four quarters.
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 >>
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Finance Stocks' Earnings Scheduled on Nov 10: MFC and CCP
The third-quarter 2016 earnings for the Finance sector is in its last phase. Most of the industry participants have reported better-than-expected results so far. The sector, as a whole, witnessed a significant improvement in performance, despite a challenging operating environment.
Per the latest Earnings Preview, nearly 99% of the S&P 500 companies in the Finance sector reported results for the third quarter as of Nov 4, 2016. Total earnings for these companies increased 12.7% year over year on a revenue improvement of 6.7%. Notably, 73% companies surpassed the bottom-line expectations and 75.3% beat on the top line.
In fact, overall earnings for the S&P 500 stocks in the Finance sector are projected to be up 11.8% year over year in the third quarter. This compares favorably with a 5.2% decline in the prior quarter.
Recovery in oil prices and improving domestic economic factors chiefly contributed to the sector’s recovery. Additionally, a recovering housing market and an improving labor market acted in favor of the sector.
On the other hand, global concerns and a persistent low interest rate environment were the undermining factors.
Let’s take a look at the two finance stocks that are slated to report their third-quarter 2016 earnings on Nov 10.
Manulife Financial Corporation (MFC - Free Report) : The Zacks Consensus Estimate for the stock for the current year has remained stable ahead of its earnings release. The estimate of $1.34 per share reflects year-over-year growth of 2.54%.
Further, based on our proven model, Manulife Financial is less likely to beat the Zacks Consensus Estimate in the forthcoming release, as it carries a Zacks Rank #4 (Sell) and an Earnings ESP of 0.00%.
You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
Our quantitative model highlights those stocks that have the combination of a positive Earnings ESP and a favorable Zacks Rank – Zacks Rank #1, #2 (Buy) or #3 (Hold) – for an earnings surprise call. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Moreover, the company does not boast a decent earnings surprise history. The stock lagged the Zacks Consensus Estimate in two of the trailing four quarters, recording an average negative earnings surprise of 2.8%.
MANULIFE FINL Price and EPS Surprise
MANULIFE FINL Price and EPS Surprise | MANULIFE FINL Quote
Care Capital Properties, Inc. : The Zacks Consensus Estimate for the stock for the current year has remained constant ahead of its earnings release. The estimate of $3.03 per share reflects a year-over-year decline of 11.4%.
Also, the stock is less likely to beat the Zacks Consensus Estimate in the to-be-reported quarter, as it carries a Zacks Rank #3 and an Earnings ESP of 0.00%.
Moreover, the company does not have a track record of earnings surprise history over the trailing four quarters.
CARE CAP PROPRT Price and EPS Surprise
CARE CAP PROPRT Price and EPS Surprise | CARE CAP PROPRT Quote
Now See Our Private Investment Ideas
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 >>