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Looking for Stocks with Positive Earnings Momentum? Check Out These 2 Basic Materials Names

Zacks Equity Research
·2-min read

Two factors often determine stock prices in the long run: earnings and interest rates. Investors can't control the latter, but they can focus on a company's earnings results every quarter.

The earnings figure itself is key, but a beat or miss on the bottom line can sometimes be just as, if not more, important. Therefore, investors should consider paying close attention to these earnings surprises, as a big beat can help a stock climb even higher.

2 Stocks to Add to Your Watchlist

The Zacks Earnings ESP is more formally known as the Expected Surprise Prediction, and it aims to grab the inside track on the latest analyst estimate revisions ahead of a company's report. The idea is relatively intuitive as a newer projection might be based on more complete information. The ESP is calculated by comparing the Most Accurate Estimate to the Zacks Consensus Estimate, with the percentage difference between the two giving us the Zacks ESP figure.

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Now that we understand what the ESP is and how beneficial it can be, let's dive into a stock that currently fits the bill. Olympic Steel (ZEUS) earns a Zacks Rank #1 right now and its Most Accurate Estimate sits at $2.41 a share, just zero days from its upcoming earnings release on May 5, 2022.

Olympic Steel's Earnings ESP sits at 6.64%, which, as explained above, is calculated by taking the percentage difference between the $2.41 Most Accurate Estimate and the Zacks Consensus Estimate of $2.26.

ZEUS is part of a big group of Basic Materials stocks that boast a positive ESP, and investors may want to take a look at Celanese (CE) as well.

Celanese, which is readying to report earnings on July 28, 2022, sits at a Zacks Rank #3 (Hold) right now. It's Most Accurate Estimate is currently $4.55 a share, and CE is 84 days out from its next earnings report.

The Zacks Consensus Estimate for Celanese is $4.40, and when you take the percentage difference between that number and its Most Accurate Estimate, you get the Earnings ESP figure of 3.38%.

Because both stocks hold a positive Earnings ESP, ZEUS and CE could potentially post earnings beats in their next reports.

Find Stocks to Buy or Sell Before They're Reported

Use the Zacks Earnings ESP Filter to turn up stocks with the highest probability of positively, or negatively, surprising to buy or sell before they're reported for profitable earnings season trading. Check it out here >>


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Olympic Steel, Inc. (ZEUS) : Free Stock Analysis Report
 
Celanese Corporation (CE) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research