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Why the Earnings Streak Will Continue for Diamondback Energy (FANG)
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Looking for a stock that might be in a good position to beat earnings at its next report? Consider Diamondback Energy, Inc. (FANG - Free Report) , a firm in the Oil and Gas - Exploration and Production – U.S. industry, which could be a great candidate for another beat.
This company has seen a nice streak of beating earnings estimates, especially when looking at the previous two reports. In fact, in these reports, FANG has beaten estimates by at least 50% in both cases, suggesting it has a nice short-term history of crushing expectations.
Earnings in Focus
Two quarters ago, FANG expected to post earnings of 15 cents per share, while it actually produced earnings of 26 cents per share, a beat of 73.3%. Meanwhile, for the most recent quarter, the company looked to deliver earnings of 35 cents per share, when it actually saw earnings of 54 cents per share instead, representing a 54.3% positive surprise.
Thanks in part to this history, recent estimates have been moving higher for Diamondback Energy. In fact, the Earnings ESP for FANG is positive, which is a great sign of a coming beat.
After all, the Zacks Earnings ESP compares the most accurate estimate to the broad consensus, looking to find stocks that have seen big revisions as of late, suggesting that analysts have recently become more bullish on the company’s earnings prospects. This is the case for FANG, as the firm currently has a Zacks Earnings ESP of 11.77%, so another beat could be around the corner.
When you add this solid Zacks Rank to a positive Earnings ESP, a positive earnings surprise happens nearly 70% of the time, so it seems pretty likely that FANG could see another beat at its next report, especially if recent trends are any guide.
Zacks' Top 10 Stocks for 2017
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2017?
Who wouldn't? As of early December, the 2016 Top 10 produced 5 double-digit winners including oil and natural gas giant Pioneer Natural Resources which racked up a stellar +50% gain. The new list is painstakingly hand-picked from 4,400 companies covered by the Zacks Rank. Be among the very first to see it>>
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Why the Earnings Streak Will Continue for Diamondback Energy (FANG)
Looking for a stock that might be in a good position to beat earnings at its next report? Consider Diamondback Energy, Inc. (FANG - Free Report) , a firm in the Oil and Gas - Exploration and Production – U.S. industry, which could be a great candidate for another beat.
This company has seen a nice streak of beating earnings estimates, especially when looking at the previous two reports. In fact, in these reports, FANG has beaten estimates by at least 50% in both cases, suggesting it has a nice short-term history of crushing expectations.
Earnings in Focus
Two quarters ago, FANG expected to post earnings of 15 cents per share, while it actually produced earnings of 26 cents per share, a beat of 73.3%. Meanwhile, for the most recent quarter, the company looked to deliver earnings of 35 cents per share, when it actually saw earnings of 54 cents per share instead, representing a 54.3% positive surprise.
DIAMONDBACK EGY Price and EPS Surprise
DIAMONDBACK EGY Price and EPS Surprise | DIAMONDBACK EGY Quote
Thanks in part to this history, recent estimates have been moving higher for Diamondback Energy. In fact, the Earnings ESP for FANG is positive, which is a great sign of a coming beat.
After all, the Zacks Earnings ESP compares the most accurate estimate to the broad consensus, looking to find stocks that have seen big revisions as of late, suggesting that analysts have recently become more bullish on the company’s earnings prospects. This is the case for FANG, as the firm currently has a Zacks Earnings ESP of 11.77%, so another beat could be around the corner.
This is particularly true when you consider that FANG has a great Zacks Rank #2 (Buy) which can be a harbinger of outperformance and a signal for a strong earnings profile. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
When you add this solid Zacks Rank to a positive Earnings ESP, a positive earnings surprise happens nearly 70% of the time, so it seems pretty likely that FANG could see another beat at its next report, especially if recent trends are any guide.
Zacks' Top 10 Stocks for 2017
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2017?
Who wouldn't? As of early December, the 2016 Top 10 produced 5 double-digit winners including oil and natural gas giant Pioneer Natural Resources which racked up a stellar +50% gain. The new list is painstakingly hand-picked from 4,400 companies covered by the Zacks Rank. Be among the very first to see it>>