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.
Finance Stocks' Q3 Earnings Early Next Week: PNNT, EV, PKY
Read MoreHide Full Article
The third-quarter 2016 reporting cycle for the Finance sector is almost over. Results of the industry participants depict a significant improvement, despite a challenging operating backdrop.
Per our latest Earnings Outlook report, all S&P 500 companies in the Finance sector have reported results for the third quarter as of Nov 17, 2016. Total earnings for these companies increased 12.2% year over year on a revenue improvement of 5.6%. Notably, 73.3% companies have surpassed the bottom-line expectations and 75.6% beat on the top line.
Recovery in oil prices and improving domestic economic factors chiefly contributed to the sector’s improvement. In addition, a recovering housing market and an improving labor market aided growth.
On the other hand, the persistent low interest rate environment and global economic growth concerns were the undermining factors.
Let’s take a look at the three finance stocks that are slated to report their third-quarter 2016 earnings early next week.
PennantPark Investment Corporation (PNNT - Free Report) is slated to release its quarterly numbers on Nov 21, 2016. The Zacks Consensus Estimate for the stock for the current quarter has remained constant ahead of its earnings release. The estimate of 25 cents per share reflects year-over-year decline of 5.8%.
Further, based on our proven model, the stock is less likely to beat the Zacks Consensus Estimate in the to-be-reported quarter, as it carries a Zacks Rank #3 (Hold) 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 – 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 have a decent earnings surprise history. The stock outpaced the Zacks Consensus Estimate in only one of the trailing four quarters, recording an average negative earnings surprise of 1.1%.
Eaton Vance Corp. (EV - Free Report) will report its results on Nov 22, 2016. The Zacks Consensus Estimate for the stock for the current quarter has remained stable ahead of its earnings release. The estimate of 61 cents per share reflects year-over-year growth of 14.2%.
Also, Eaton is less likely to beat the Zacks Consensus Estimate in the forthcoming release, as it carries a Zacks Rank #3 and has an Earnings ESP of -3.28%.
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 2.1%.
Parkway, Inc. is also expected to report its quarterly figures early next week. The Zacks Consensus Estimate for the stock for the current quarter has remained unchanged ahead of its earnings release. The estimate of 45 cents per share reflects a year-over-year improvement of 36.3%.
Also, the stock is less likely to beat the Zacks Consensus Estimate in the upcoming earnings release, as it carries a Zacks Rank #3 and an Earnings ESP of 0.00%.
However, the company boasts a decent earnings surprise history. The stock outpaced the Zacks Consensus Estimate in three of the trailing four quarters, recording an average positive earnings surprise of 6.4%.
Today's investment ideas are short-term, directly based on our proven 1 to 3 month indicator. In addition, I invite you to consider our long-term opportunities. These rare trades look to start fast with strong Zacks Ranks, but carry through with double and triple-digit profit potential. Starting now, you can look inside our home run, value, and stocks under $10 portfolios, plus more. Click here for a peek at this private information >>
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
Finance Stocks' Q3 Earnings Early Next Week: PNNT, EV, PKY
The third-quarter 2016 reporting cycle for the Finance sector is almost over. Results of the industry participants depict a significant improvement, despite a challenging operating backdrop.
Per our latest Earnings Outlook report, all S&P 500 companies in the Finance sector have reported results for the third quarter as of Nov 17, 2016. Total earnings for these companies increased 12.2% year over year on a revenue improvement of 5.6%. Notably, 73.3% companies have surpassed the bottom-line expectations and 75.6% beat on the top line.
Recovery in oil prices and improving domestic economic factors chiefly contributed to the sector’s improvement. In addition, a recovering housing market and an improving labor market aided growth.
On the other hand, the persistent low interest rate environment and global economic growth concerns were the undermining factors.
Let’s take a look at the three finance stocks that are slated to report their third-quarter 2016 earnings early next week.
PennantPark Investment Corporation (PNNT - Free Report) is slated to release its quarterly numbers on Nov 21, 2016. The Zacks Consensus Estimate for the stock for the current quarter has remained constant ahead of its earnings release. The estimate of 25 cents per share reflects year-over-year decline of 5.8%.
Further, based on our proven model, the stock is less likely to beat the Zacks Consensus Estimate in the to-be-reported quarter, as it carries a Zacks Rank #3 (Hold) 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 – 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 have a decent earnings surprise history. The stock outpaced the Zacks Consensus Estimate in only one of the trailing four quarters, recording an average negative earnings surprise of 1.1%.
PENNANTPARK INV Price and EPS Surprise
PENNANTPARK INV Price and EPS Surprise | PENNANTPARK INV Quote
Eaton Vance Corp. (EV - Free Report) will report its results on Nov 22, 2016. The Zacks Consensus Estimate for the stock for the current quarter has remained stable ahead of its earnings release. The estimate of 61 cents per share reflects year-over-year growth of 14.2%.
Also, Eaton is less likely to beat the Zacks Consensus Estimate in the forthcoming release, as it carries a Zacks Rank #3 and has an Earnings ESP of -3.28%.
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 2.1%.
EATON VANCE Price and EPS Surprise
EATON VANCE Price and EPS Surprise | EATON VANCE Quote
Parkway, Inc. is also expected to report its quarterly figures early next week. The Zacks Consensus Estimate for the stock for the current quarter has remained unchanged ahead of its earnings release. The estimate of 45 cents per share reflects a year-over-year improvement of 36.3%.
Also, the stock is less likely to beat the Zacks Consensus Estimate in the upcoming earnings release, as it carries a Zacks Rank #3 and an Earnings ESP of 0.00%.
However, the company boasts a decent earnings surprise history. The stock outpaced the Zacks Consensus Estimate in three of the trailing four quarters, recording an average positive earnings surprise of 6.4%.
PARKWAY INC Price and EPS Surprise
PARKWAY INC Price and EPS Surprise | PARKWAY INC Quote
Looking for Ideas with Even Greater Upside?
Today's investment ideas are short-term, directly based on our proven 1 to 3 month indicator. In addition, I invite you to consider our long-term opportunities. These rare trades look to start fast with strong Zacks Ranks, but carry through with double and triple-digit profit potential. Starting now, you can look inside our home run, value, and stocks under $10 portfolios, plus more. Click here for a peek at this private information >>