How to Boost Your Portfolio with Top Medical Stocks Set to Beat Earnings
Quarterly financial reports play a vital role on Wall Street, as they help investors see how a company has performed and what might be coming down the road in the near-term. And out of all of the metrics and results to consider, earnings is one of the most important.
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.
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. Molina (MOH) earns a Zacks Rank #3 right now and its Most Accurate Estimate sits at $5.48 a share, just 29 days from its upcoming earnings release on April 24, 2024.
Molina's Earnings ESP sits at 0.33%, which, as explained above, is calculated by taking the percentage difference between the $5.48 Most Accurate Estimate and the Zacks Consensus Estimate of $5.46.
MOH is just one of a large group of Medical stocks with a positive ESP figure. Tenet Healthcare (THC) is another qualifying stock you may want to consider.
Slated to report earnings on April 23, 2024, Tenet Healthcare holds a #3 (Hold) ranking on the Zacks Rank, and it's Most Accurate Estimate is $1.56 a share 28 days from its next quarterly update.
Tenet Healthcare's Earnings ESP figure currently stands at 10.43% after taking the percentage difference between its Most Accurate Estimate and its Zacks Consensus Estimate of $1.41.
Because both stocks hold a positive Earnings ESP, MOH and THC 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 >>
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Molina Healthcare, Inc (MOH) : Free Stock Analysis Report
Tenet Healthcare Corporation (THC) : Free Stock Analysis Report
