UPS executives called out a deteriorating macro environment outside the US, too. “Early signs are that tighter bank lending standards are beginning to bite, but the full hit to activity won't be evident until later this year,” Oxford Economics lead US economist Michael Pearce wrote in a note last week. Economists anticipate 2% growth, though Oxford Economics notes much of that growth came in the January. Thursday's preliminary reading of first-quarter gross domestic product report is expected to give Wall Street another look at the health of the economy. REUTERS/Andrew Kelly (Andrew Kelly / reuters) To read this article on click here.United Parcel Service (UPS) vehicles are seen at a facility in Brooklyn, New York City, U.S., May 9, 2022. (UPST) : Free Stock Analysis ReportĬomputer Task Group, Incorporated (CTG) : Free Stock Analysis Report Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.Ĭomputer Task Group's revenues are expected to be $78.7 million, down 4.9% from the year-ago quarter. This information technology staffing company is expected to post quarterly earnings of $0.14 per share in its upcoming report, which represents a year-over-year change of -6.7%. The results are expected to be released on August 9. One other stock from the same industry, Computer Task Group (CTG), is yet to report results for the quarter ended June 2023. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. In terms of the Zacks Industry Rank, Computers - IT Services is currently in the bottom 37% of the 250 plus Zacks industries. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. The current consensus EPS estimate is $0.04 on $151.92 million in revenues for the coming quarter and -$0.38 on $558.96 million in revenues for the current fiscal year. It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. So, the shares are expected to perform in line with the market in the near future. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.Īhead of this earnings release, the estimate revisions trend for Upstart Holdings, Inc. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.Įmpirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? Shares have added about 293.1% since the beginning of the year versus the S&P 500's gain of 17.7%. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. The company has topped consensus revenue estimates three times over the last four quarters. This compares to year-ago revenues of $228.16 million. , which belongs to the Zacks Computers - IT Services industry, posted revenues of $135.77 million for the quarter ended June 2023, surpassing the Zacks Consensus Estimate by 1.39%. Over the last four quarters, the company has surpassed consensus EPS estimates three times. A quarter ago, it was expected that this company would post a loss of $0.82 per share when it actually produced a loss of $0.47, delivering a surprise of 42.68%. This quarterly report represents an earnings surprise of 200%. These figures are adjusted for non-recurring items. This compares to earnings of $0.01 per share a year ago. (UPST) came out with quarterly earnings of $0.06 per share, beating the Zacks Consensus Estimate of a loss of $0.06 per share.
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