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.
Automatic Data Processing (ADP) Q3 Earnings Meet Estimates
Read MoreHide Full Article
Automatic Data Processing, Inc.(ADP - Free Report) reported third-quarter fiscal 2020 earnings per share of $1.92 (on an adjusted basis) which matched the Zacks Consensus Estimate.
How Was the Estimate Revision Trend?
Investors should note that the earnings estimate revisions for ADP depicted a pessimistic picture prior to the earnings release. The stock had seen the Zacks Consensus Estimate for third-quarter fiscal 2020 earnings move down 1% over the last 60 days.
However, the company has an impressive earnings history having outperformed the Zacks Consensus Estimate in each of the last four quarters with an average beat of 2.8%.
Revenues Better Than Expected
ADP recorded revenues of $4,047.8 million which outperformed the Zacks Consensus Estimate of $4,038.4 million. Moreover, revenues compared favorably with the year-ago figure of $3,847.4 million.
Key Stats to Note: ADP expects revenues to register about 3% growth compared with the prior growth rate of 6%. Adjusted earnings per share are anticipated to register 4-7% growth compared with the prior growth rate of 12-14%. Adjusted effective tax rate is anticipated to be 22.9% compared with the prior rate of 23.2%
Zacks Rank: Currently, ADP has a Zacks Rank #4 (Sell) but that could change following the company’s earnings report which was just released.
Check back later for our full write up on this ADP earnings report later!
Zacks Top 10 Stocks for 2020
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2020?
Last year's 2019 Zacks Top 10 Stocks portfolio returned gains as high as +102.7%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.
Image: Bigstock
Automatic Data Processing (ADP) Q3 Earnings Meet Estimates
Automatic Data Processing, Inc.(ADP - Free Report) reported third-quarter fiscal 2020 earnings per share of $1.92 (on an adjusted basis) which matched the Zacks Consensus Estimate.
How Was the Estimate Revision Trend?
Investors should note that the earnings estimate revisions for ADP depicted a pessimistic picture prior to the earnings release. The stock had seen the Zacks Consensus Estimate for third-quarter fiscal 2020 earnings move down 1% over the last 60 days.
However, the company has an impressive earnings history having outperformed the Zacks Consensus Estimate in each of the last four quarters with an average beat of 2.8%.
Revenues Better Than Expected
ADP recorded revenues of $4,047.8 million which outperformed the Zacks Consensus Estimate of $4,038.4 million. Moreover, revenues compared favorably with the year-ago figure of $3,847.4 million.
Key Stats to Note: ADP expects revenues to register about 3% growth compared with the prior growth rate of 6%. Adjusted earnings per share are anticipated to register 4-7% growth compared with the prior growth rate of 12-14%. Adjusted effective tax rate is anticipated to be 22.9% compared with the prior rate of 23.2%
Zacks Rank: Currently, ADP has a Zacks Rank #4 (Sell) but that could change following the company’s earnings report which was just released.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Automatic Data Processing, Inc. Price and EPS Surprise
Automatic Data Processing, Inc. price-eps-surprise | Automatic Data Processing, Inc. Quote
Check back later for our full write up on this ADP earnings report later!
Zacks Top 10 Stocks for 2020
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2020?
Last year's 2019 Zacks Top 10 Stocks portfolio returned gains as high as +102.7%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.
Access Zacks Top 10 Stocks for 2020 today >>