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Sell-Off Begone: 3 Stocks Likely to Beat Earnings Estimates This Week
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Investors around the world have begrudgingly welcomed back volatility to the global markets over the past few trading periods, as a market-wide sell-off erased the year-to-date gains of most major indexes and raised questions about the stability of our red-hot bull market.
Conditions appear to have stabilized a bit on Tuesday, but it is probably still too soon to declare a bottom on this correction. It is also worth noting that this sell-off happened in spite of what has been a strong earnings season. We have moved past the busy stretch of Q4 report season, but a few marquee reports remain to come over the next few days, and strong results in these quarterly summaries could help inspire a market-wide rebound.
With that said, the best way for investors to benefit from this possible recovery is to target companies that are likely to outperform earnings estimates. Luckily, Zacks Premium customers can utilize the Earnings ESP Screener in order to search for stocks that are expected to beat. Zacks Earnings ESP (Expected Surprise Prediction) looks to find earnings surprises by focusing on the most recent analyst estimates.
This is done because, generally speaking, when an analyst posts an estimate right before an earnings release, it means that they have fresh information which could potentially be more accurate than what analysts thought about a company two or three months ago.
A positive Earnings ESP paired with a Zacks Rank #3 (Hold) or better ranking helps us feel confident about the potential for an earnings beat. In fact, our 10-year backtest has revealed that this methodology has accurately produced a positive surprise 70% of the time.
Today, we are giving our readers a very special treat: a free look at three of the strongest stocks that are popping up on our Earnings ESP Screener right now. Check them out:
Taylor Morrison is a homebuilder and land developer engaged in building single-family detached and attached homes. The company is scheduled to release its latest quarterly results before the market opens on Feb. 7. TMHC is currently sporting a Zacks Rank #1 (Strong Buy) and has an Earnings ESP of 4.89%.
Based on our latest consensus estimates, we expect to see Taylor Morrison report earnings of 70 cents per share and revenues of $1.28 billion. These results would represent year-over-year growth of 7.69% and 6.68%, respectively.
iRobot is the leading global consumer robot company. Best known for its Roomba automated vacuums, iRobot develops several in-home robotic devices. The company is slated to announce its latest quarterly results after the market closes on Feb. 7. IRBT is currently sporting a Zacks Rank #2 (Buy) and has an Earnings ESP of 17.65%.
According to our latest consensus estimates, iRobot is projected to report earnings of 26 cents per share and revenues of $317.31 million. That earnings figure would represent a steep slump of 46.94% from the year-ago period, but revenues are expected to improve by 49.33%.
Nvidia the worldwide leader in graphics processors. The firm produces processors used for gaming, datacenters, autonomous driving, commercial visualization, and more. Nvidia is scheduled to release its latest quarterly report after the bell on Feb. 8. NVDA is currently sporting a Zacks Rank #2 (Buy) and an earnings ESP of 4.13%.
Our current consensus estimates are calling for Nvidia to report adjusted earnings of $1.16 per share and revenues of $2.66 billion. These results would represent year-over-year growth rates of 17.17% and 22.35%, respectively.
Want more analysis from this author? Make sure to follow @Ryan_McQueeneyon Twitter!
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Image: Bigstock
Sell-Off Begone: 3 Stocks Likely to Beat Earnings Estimates This Week
Investors around the world have begrudgingly welcomed back volatility to the global markets over the past few trading periods, as a market-wide sell-off erased the year-to-date gains of most major indexes and raised questions about the stability of our red-hot bull market.
Conditions appear to have stabilized a bit on Tuesday, but it is probably still too soon to declare a bottom on this correction. It is also worth noting that this sell-off happened in spite of what has been a strong earnings season. We have moved past the busy stretch of Q4 report season, but a few marquee reports remain to come over the next few days, and strong results in these quarterly summaries could help inspire a market-wide rebound.
With that said, the best way for investors to benefit from this possible recovery is to target companies that are likely to outperform earnings estimates. Luckily, Zacks Premium customers can utilize the Earnings ESP Screener in order to search for stocks that are expected to beat. Zacks Earnings ESP (Expected Surprise Prediction) looks to find earnings surprises by focusing on the most recent analyst estimates.
This is done because, generally speaking, when an analyst posts an estimate right before an earnings release, it means that they have fresh information which could potentially be more accurate than what analysts thought about a company two or three months ago.
A positive Earnings ESP paired with a Zacks Rank #3 (Hold) or better ranking helps us feel confident about the potential for an earnings beat. In fact, our 10-year backtest has revealed that this methodology has accurately produced a positive surprise 70% of the time.
Today, we are giving our readers a very special treat: a free look at three of the strongest stocks that are popping up on our Earnings ESP Screener right now. Check them out:
1. Taylor Morrison Home Corporation (TMHC - Free Report)
Taylor Morrison is a homebuilder and land developer engaged in building single-family detached and attached homes. The company is scheduled to release its latest quarterly results before the market opens on Feb. 7. TMHC is currently sporting a Zacks Rank #1 (Strong Buy) and has an Earnings ESP of 4.89%.
Based on our latest consensus estimates, we expect to see Taylor Morrison report earnings of 70 cents per share and revenues of $1.28 billion. These results would represent year-over-year growth of 7.69% and 6.68%, respectively.
2. iRobot Corporation (IRBT - Free Report)
iRobot is the leading global consumer robot company. Best known for its Roomba automated vacuums, iRobot develops several in-home robotic devices. The company is slated to announce its latest quarterly results after the market closes on Feb. 7. IRBT is currently sporting a Zacks Rank #2 (Buy) and has an Earnings ESP of 17.65%.
According to our latest consensus estimates, iRobot is projected to report earnings of 26 cents per share and revenues of $317.31 million. That earnings figure would represent a steep slump of 46.94% from the year-ago period, but revenues are expected to improve by 49.33%.
3. NVIDIA Corporation (NVDA - Free Report)
Nvidia the worldwide leader in graphics processors. The firm produces processors used for gaming, datacenters, autonomous driving, commercial visualization, and more. Nvidia is scheduled to release its latest quarterly report after the bell on Feb. 8. NVDA is currently sporting a Zacks Rank #2 (Buy) and an earnings ESP of 4.13%.
Our current consensus estimates are calling for Nvidia to report adjusted earnings of $1.16 per share and revenues of $2.66 billion. These results would represent year-over-year growth rates of 17.17% and 22.35%, respectively.
Want more analysis from this author? Make sure to follow @Ryan_McQueeney on Twitter!
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Click here for the 6 trades >>