National Vision (EYE) to Report Q3 Earnings: What's in Store?
National Vision Holdings, Inc. EYE is scheduled to report third-quarter 2020 results on Nov 5, before market open.
In the last-reported quarter, the company’s loss of 41 cents remained narrower than the Zacks Consensus Estimate of loss of 57 cents. Over the trailing four quarters, its earnings outperformed the Zacks Consensus Estimate on all occasions, the average beat being 163.06%.
Let’s see how things have shaped up prior to this announcement.
Factors at Play
National Vision is expected to report better third-quarter results ongradual reopening of stores and return toward more normal operations. The company’s effective implementation of the safety-first approach in store operations should have encouraged customer visit in this period. Per the company’s July update, with opening up of economy, business rebounded strongly in June and the momentum is expected to have continued.
Further, the company in the previously-reported quarter transitioned its five additional Walmart Vision Centers to NVI management. This was the first time that Walmart added stores to National Vision’s contract. We expect the performance of these stores to reflect in the third-quarter results.
National Vision Holdings, Inc. Price and EPS Surprise
National Vision Holdings, Inc. price-eps-surprise | National Vision Holdings, Inc. Quote
The company’s contact lens revenue growth is expected to have remained impressive on lesser impact of store closures on contact lens customer transactions. The contact lens category might have continued to see growth in average ticket, resulting from higher adoption of newer technology lenses at increased prices.
The Estimate Picture
For third-quarter 2020, the Zacks Consensus Estimate for total revenues of $492.5 million implies a 14% improvement from the prior-year reported figure.
The consensus estimate for earnings per share is pegged at 26 cents, implying an improvement of 44.4% from the prior-year reported figure.
What Our Model Suggests
Our proven model does not conclusively predict an earnings beat for National Vision this time around. The combination of a positive Earnings ESPand a Zacks Rank #1 (Strong Buy), #2 (Buy) or #3 (Hold) increases the chances of an earnings beat.
Earnings ESP: National Vision has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: The company currently carries a Zacks Rank #3.
Stocks Worth a Look
Here are a few medical stocks worth considering, as these have the right combination of elements to beat on earnings this reporting cycle.
LHC Group, Inc. LHCG has an Earnings ESP of +1.85% and it currently carries a Zacks Rank of 2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Fulcrum Therapeutics, Inc. FULC has an Earnings ESP of +7.58% and is a Zacks #2 Ranked stock.
SeaSpine Holdings Corporation SPNE has an Earnings ESP of + 6.67% and it carries a Zacks Rank of 2 at present.
Have You Seen Zacks’ 2020 Election Stock Report?
The upcoming election could be a massive buying opportunity for savvy investors. Trillions of dollars will shift into new market sectors after the election. The question is, which sectors will soar for each candidate? Zacks has put together a new special report to help readers like you target big profits.
The 2020 Election Stock Report reveals specific stocks you’ll want to own immediately after the results are announced – 6 if Trump wins, 6 if Biden wins. Past election reports have led investors to gains of +71%, +83%, even +185% in the following months. This year’s picks could be even more lucrative.
Check out Zacks’ 2020 Election Stock Report >>
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
LHC Group, Inc. (LHCG) : Free Stock Analysis Report
SeaSpine Holdings Corporation (SPNE) : Free Stock Analysis Report
National Vision Holdings, Inc. (EYE) : Free Stock Analysis Report
Fulcrum Therapeutics, Inc. (FULC) : Free Stock Analysis Report
To read this article on Zacks.com click here.
