Opendoor (OPEN) to Report Q2 Earnings: What's in the Offing?
Opendoor Technologies Inc. OPEN is scheduled to report its second-quarter 2023 results on Aug 3 after the closing bell.
The company has missed the Zacks Consensus Estimate in two of the trailing four quarters and beat the estimate on the remaining two instances, delivering an average earnings surprise of 0.56%.
Q2 Expectations
The Zacks Consensus Estimate for Opendoor’s revenues in the to-be-reported quarter is pegged at $1.88 billion, indicating a 55.3% year-over-year decrease. The top-line decline is likely to have been due to the continuation of the lack of supply and a decrease in new listings.
Opendoor Technologies Inc. Price and EPS Surprise
Opendoor Technologies Inc. price-eps-surprise | Opendoor Technologies Inc. Quote
The Zacks Consensus Estimate for the bottom line in the to-be-reported quarter stands at a loss of 38 cents per share. The company reported earnings of 19 cents per share in the year-ago quarter. The decrease in revenues and the anticipated increase in cost are likely to have weighed on the bottom line.
What Our Model Says
Our proven model predicts an earnings beat for OPEN this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
OPEN has an Earnings ESP of +3.27% and a Zacks Rank of 3.
Other Stocks to Consider
Here are a few other stocks from the broader Zacks Business Services sector, which according to our model, also have the right combination of elements to beat on earnings this season:
Aptiv APTV currently has a Zacks Rank of 2. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for the bottom line is pegged at $1.03 per share, up more than 100% from the year-ago figure. The consensus mark for revenues is pegged at $4.72 billion, up 16.5% from the figure reported a year ago. APTV had an average negative surprise of 8.1% in the previous four quarters.
APTV has an Earnings ESP of +4.37. The company is scheduled to release its second-quarter earnings on Aug 3.
Rocket Companies RKT currently has a Zacks Rank of 3. The Zacks Consensus Estimate for the bottom line is pegged at a loss of 5 cents per share. In the previous-year quarter, the company reported a loss of 3 cents per share. The consensus mark for revenues is pegged at $983.2 million, down 29.4% from the prior-year reported figure. RKT had an average negative surprise of 127.5% in the previous four quarters.
RKT has an Earnings ESP of +14.29. The company is scheduled to declare its second-quarter results on Aug 3.
Everi Holdings EVRI currently has a Zacks Rank of 2. The Zacks Consensus Estimate for the bottom line is pegged at 24 cents per share, down 27.3% from the year-ago reported figure. The consensus mark for revenues is pegged at $207.65 million, up 5.3% from the prior-year reported figure. EVRI had an average surprise of 26.8% in the previous four quarters.
EVRI has an Earnings ESP of +2.07. The company is slated to declare its second-quarter results on Aug 9.
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Rocket Companies, Inc. (RKT) : Free Stock Analysis Report
Opendoor Technologies Inc. (OPEN) : Free Stock Analysis Report
Everi Holdings Inc. (EVRI) : Free Stock Analysis Report
Aptiv PLC (APTV) : Free Stock Analysis Report
