Why Atwood Oceanics (ATW) Might Surprise This Earnings Season - Tale of the Tape
29 Avril 2014 - 2:57PM
Zacks
Investors are always looking for
stocks that are poised to beat at earnings season and
Atwood Oceanics, Inc. (ATW) may be one such
company. The firm has earnings coming up pretty soon, and events
are shaping up quite nicely for their report.
That is because Atwood Oceanics is seeing favorable earnings
estimate revision activity as of late, which is generally a
precursor to an earnings beat. After all, analysts raising
estimates right before earnings—with the most up-to-date
information possible—is a pretty good indicator of some favorable
trends underneath the surface for ATW in this report.
In fact, the Most Accurate Estimate for the current quarter is
currently at 95 cents per share for ATW, compared to a broader
Zacks Consensus Estimate of 93 cents per share. This suggests that
analysts have very recently bumped up their estimates for ATW,
giving the stock a Zacks Earnings ESP of 2.15% heading into
earnings season.
Why is this Important?
A positive reading for the Zacks Earnings ESP has proven to be very
powerful in producing both positive surprises, and outperforming
the market. Our recent 10 year backtest shows that stocks that have
a positive Earnings ESP and a Zacks Rank #3 (Hold) or better show a
positive surprise nearly 70% of the time, and have returned over
28% on average in annual returns (see more Top Earnings ESP stocks
here).
Given that ATW has a Zacks Rank #3 (Hold) and an ESP in positive
territory, investors might want to consider this stock ahead of
earnings. Clearly, recent earnings estimate revisions suggest that
good things are ahead for Atwood Oceanics, and that a beat might be
in the cards for the upcoming report.
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