ONEOK (OKE) to Post Q2 earnings: Is a Beat in the Cards?
ONEOK, Inc. OKE is scheduled to release second-quarter 2018 results on Jul 31. In the last reported quarter, the company delivered a positive earnings surprise of 3.23%.
What Does the Quantitative Model Predicts
A stock needs to have a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) to beat estimates. Our model shows that the company is likely to beat estimates in the soon-to-be-reported quarter.
Earnings ESP: The company’s Earnings ESP is +0.70%. The Most Accurate Estimate is 67 cents and the Zacks Consensus Estimate is pegged at 66 cents.
ONEOK, Inc. Price and EPS Surprise
ONEOK, Inc. Price and EPS Surprise | ONEOK, Inc. Quote
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: ONEOK’s Zacks Rank #3, when combined with a positive Earnings ESP, increases the possibility of a beat. You can see the complete list of today’s Zacks #1 Rank stocks here.
We caution against stocks with a Zacks Rank #4 or 5 (Sell rated) going into the earnings announcement, especially when the company is seeing negative estimate revisions.
Factors to Consider
ONEOK projects earnings to surge more than 95% from fee-based contracts in second-quarter 2018 results. Also, the company is likely to benefit from newly operational petrochemical facilities and rising export volumes in the upcoming quarters.
The Zacks Consensus Estimate for second-quarter 2018 earnings is pegged at 66 cents. The projected figure reflects an increase of 100% year over year. Natural gas and natural gas liquids (NGL) production volume in the STACK & SCOOP areas and Williston & Permian basins are expected to cater to the rising demand.
Other Stocks to Consider
Here are a few other players worth considering from the same industry with the right combination of elements to beat estimates:
National Fuel Gas Company NFG has an Earnings ESP of +4.02% and a Zacks Rank of 3. The company is expected to report third-quarter fiscal 2018 results on Aug 2.
Southwest Gas Corporation SWX has an Earnings ESP of +12.90% and a Zacks Rank #2. The company is expected to release second-quarter 2018 earnings on Aug 6.
Vectren Corporation VVC has an Earnings ESP of +2.91% and a Zacks Rank of 3. The company is likely to announce second-quarter 2018 earnings on Aug 1.
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ONEOK, Inc. (OKE) : Free Stock Analysis Report
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