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Business Services Q1 Earnings on May 3: CAR, NCI & More
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The earnings season is picking up steam with over 1,000 companies reporting this week, including 126 S&P 500 members. The 288 S&P 500 companies that reported results till Apr 28, more or less confirm that overall first-quarter results are likely to be the best in about three years.
Total earnings for these 288 companies (accounting for 63.8% of the index’s total market capitalization) are up 13.7% on 8.2% higher revenues, with 76.4% beating earnings estimates and 68.1% surpassing top-line expectations. Based on the hitherto observed pattern, the first quarter is anticipated to register double-digit percentage growth on a year-over-year basis.
Per the latest Earnings Preview, overall first-quarter earnings for all the S&P 500 companies are expected to be up 11.2% on a 6.2% growth in revenues. This represents a healthy improvement from fourth-quarter 2016 that recorded the highest growth in its preceding two years. The relative improvement in the quarterly performance is largely due to a turnaround in the economy, improved job market and rising oil prices. Experts widely believe that earnings growth is likely to continue in double digits in the latter half of 2017 and beyond.
For the first quarter as a whole, about three of the 16 Zacks sectors are expected to witness an earnings decline, with Autos and Transportation being the biggest drag.
The Business Services sector is looking reasonably good this quarter. For the sector, earnings are expected to grow 8.5% year over year while sales are touted to rise 2.8%, driven by higher capital investments.
Let’s have a sneak peek at four major Business Services stocks scheduled to report first-quarter 2017 earnings tomorrow to see how things are shaping up for the upcoming results.
Avis Budget Group, Inc. (CAR - Free Report) is scheduled to report results after the closing bell. During the quarter, the company inked a definitive agreement with I.D. Systems, Inc. to use its proprietary wireless rental fleet management systems. The collaboration will help Avis Budget significantly streamline and automate the vehicle data collection and billing process. For the impending quarter, the company has an Earnings ESP of 0.00%, and Zacks Rank #4 (Sell), making an earnings surprise prediction uncertain. A stock needs to have both a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), #2 (Buy) or #3 (Hold) for a likely earnings beat. You can see the complete list of today’s Zacks #1 Rank stocks here.
Navigant Consulting, Inc. is slated to report earnings before the opening bell. Opportunities associated with healthcare reform continue to drive demand for the company as the industry seeks expertise to improve profitability and address increasing regulatory pressures for compliance. The demand for data analytics in healthcare across all markets is also growing, given the access to new data as a result of the Affordable Care Act and new technologies. The company is presently developing data analytic tools across multiple groups to meet the growing demand for technology-enabled solutions that can help clients address most of the market challenges. We remain inconclusive on earnings beat prediction this quarter as the company has an ESP of 0.00% and a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Clean Harbors, Inc. (CLH - Free Report) is scheduled to report results before the opening bell. The demand cycle of the company is highly seasonal and first-quarter results typically witness a decrease in demand for environmental services owing to the frigid weather, mainly in the Northern and Midwestern U.S. and Canada. However, during the first quarter of every year, demand in Industrial and Field Services and Oil and Gas Field Services segments increases due to the cold weather in Canada. The seasonal variations reduce the predictability of income and impair the company’s earnings. We cannot conclusive predict an earnings beat this quarter as the company has an ESP of -66.67% and a Zacks Rank #2.
EVERTEC, Inc. (EVTC - Free Report) is scheduled to report results after the closing bell. This leading full-service transaction processing firm has a positive earnings history in the trailing four quarters, beating estimates in each. However, we cannot conclusive predict an earnings beat this quarter as the company has an ESP of -2.56% and a Zacks Rank #4.
While we share many recommendations and ideas with the public, certain moves are hidden from everyone but selected members of our portfolio services. Would you like to peek behind the curtain today and view them?
Starting now, for the next month, I invite you to follow all Zacks' private buys and sells in real time from value to momentum...from stocks under $10 to ETF to option movers...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.
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Business Services Q1 Earnings on May 3: CAR, NCI & More
The earnings season is picking up steam with over 1,000 companies reporting this week, including 126 S&P 500 members. The 288 S&P 500 companies that reported results till Apr 28, more or less confirm that overall first-quarter results are likely to be the best in about three years.
Total earnings for these 288 companies (accounting for 63.8% of the index’s total market capitalization) are up 13.7% on 8.2% higher revenues, with 76.4% beating earnings estimates and 68.1% surpassing top-line expectations. Based on the hitherto observed pattern, the first quarter is anticipated to register double-digit percentage growth on a year-over-year basis.
Per the latest Earnings Preview, overall first-quarter earnings for all the S&P 500 companies are expected to be up 11.2% on a 6.2% growth in revenues. This represents a healthy improvement from fourth-quarter 2016 that recorded the highest growth in its preceding two years. The relative improvement in the quarterly performance is largely due to a turnaround in the economy, improved job market and rising oil prices. Experts widely believe that earnings growth is likely to continue in double digits in the latter half of 2017 and beyond.
For the first quarter as a whole, about three of the 16 Zacks sectors are expected to witness an earnings decline, with Autos and Transportation being the biggest drag.
The Business Services sector is looking reasonably good this quarter. For the sector, earnings are expected to grow 8.5% year over year while sales are touted to rise 2.8%, driven by higher capital investments.
Let’s have a sneak peek at four major Business Services stocks scheduled to report first-quarter 2017 earnings tomorrow to see how things are shaping up for the upcoming results.
Avis Budget Group, Inc. (CAR - Free Report) is scheduled to report results after the closing bell. During the quarter, the company inked a definitive agreement with I.D. Systems, Inc. to use its proprietary wireless rental fleet management systems. The collaboration will help Avis Budget significantly streamline and automate the vehicle data collection and billing process. For the impending quarter, the company has an Earnings ESP of 0.00%, and Zacks Rank #4 (Sell), making an earnings surprise prediction uncertain. A stock needs to have both a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), #2 (Buy) or #3 (Hold) for a likely earnings beat. You can see the complete list of today’s Zacks #1 Rank stocks here.
Avis Budget Group, Inc. Price and EPS Surprise
Avis Budget Group, Inc. Price and EPS Surprise | Avis Budget Group, Inc. Quote
Navigant Consulting, Inc. is slated to report earnings before the opening bell. Opportunities associated with healthcare reform continue to drive demand for the company as the industry seeks expertise to improve profitability and address increasing regulatory pressures for compliance. The demand for data analytics in healthcare across all markets is also growing, given the access to new data as a result of the Affordable Care Act and new technologies. The company is presently developing data analytic tools across multiple groups to meet the growing demand for technology-enabled solutions that can help clients address most of the market challenges. We remain inconclusive on earnings beat prediction this quarter as the company has an ESP of 0.00% and a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Navigant Consulting, Inc. Price and EPS Surprise
Navigant Consulting, Inc. Price and EPS Surprise | Navigant Consulting, Inc. Quote
Clean Harbors, Inc. (CLH - Free Report) is scheduled to report results before the opening bell. The demand cycle of the company is highly seasonal and first-quarter results typically witness a decrease in demand for environmental services owing to the frigid weather, mainly in the Northern and Midwestern U.S. and Canada. However, during the first quarter of every year, demand in Industrial and Field Services and Oil and Gas Field Services segments increases due to the cold weather in Canada. The seasonal variations reduce the predictability of income and impair the company’s earnings. We cannot conclusive predict an earnings beat this quarter as the company has an ESP of -66.67% and a Zacks Rank #2.
Clean Harbors, Inc. Price and EPS Surprise
Clean Harbors, Inc. Price and EPS Surprise | Clean Harbors, Inc. Quote
EVERTEC, Inc. (EVTC - Free Report) is scheduled to report results after the closing bell. This leading full-service transaction processing firm has a positive earnings history in the trailing four quarters, beating estimates in each. However, we cannot conclusive predict an earnings beat this quarter as the company has an ESP of -2.56% and a Zacks Rank #4.
Evertec, Inc. Price and EPS Surprise
Evertec, Inc. Price and EPS Surprise | Evertec, Inc. Quote
Zacks' Hidden Trades
While we share many recommendations and ideas with the public, certain moves are hidden from everyone but selected members of our portfolio services. Would you like to peek behind the curtain today and view them?
Starting now, for the next month, I invite you to follow all Zacks' private buys and sells in real time from value to momentum...from stocks under $10 to ETF to option movers...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 trade>>