We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Auto Stocks' Q3 Earnings Lineup for Nov 14: AAP, PSIX, SORL
Read MoreHide Full Article
The auto sector has been one of the worst performers this earnings season. Auto companies’ results as of Nov 9, 2016 displayed a year-over-year decline of 8.2% in earnings and 1.1% in revenues, per our latest Earnings Outlook. In comparison, S&P 500 companies that have reported so far posted a 4% increase in earnings on a 2.7% rise in revenues.
The decline in U.S. auto sales in August and September affected the quarterly results of many automakers. The pressure to maintain attractive incentives and deals also strained their margins. Further, expenses related to safety recalls as well as the adverse impact of foreign currency translation remain headwinds for the sector.
Meanwhile, strong sales growth in China and Europe has been the primary driving factor for the auto sector in Q3. Moreover, low fuel prices are driving the sales of higher margin vehicle segments, such as SUVs and light trucks.
With all these factors in mind, let’s see what awaits these three auto stocks that are slated to release third-quarter 2016 results on Nov 14.
Advance Auto Parts Inc. (AAP - Free Report) has an Earnings ESP of 0.00% because the Most Accurate estimate and the Zacks Consensus Estimate are both pegged at $1.74. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Advance Auto missed earnings in three of the last four quarters, posting a negative average surprise of 4.79%. The company carries a Zacks Rank #4 (Sell). (Read more: AAP Quick QuoteAAP - Free Report) %20Q3%20Earnings:%20What???s%20in%20Store?">Advance Auto Parts Q3 Earnings: What’s in Store?).
Power Solutions International, Inc. (PSIX - Free Report) currently has an Earnings ESP of 0.00% as the Most Accurate estimate and the Zacks Consensus Estimate are pegged at 20 cents. We note that Power Solutions recorded an average negative surprise of 38.09% over the last four quarters. The company carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
SORL Auto Parts, Inc. has an Earnings ESP of 0.00% as the Most Accurate estimate and the Zacks Consensus Estimate are both pegged at 16 cents. The company posted positive earnings surprises in two of the trailing four quarters, with an average positive surprise of 7.46%. SORL Auto Parts currently carries a Zacks Rank #3.
This week, Zacks researchers have named 7 other stocks that look to break out even sooner than today's Bull of the Day. You can see these time-sensitive tickers free, and access additional trades that are not available to the public. Simply click here>>
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Auto Stocks' Q3 Earnings Lineup for Nov 14: AAP, PSIX, SORL
The auto sector has been one of the worst performers this earnings season. Auto companies’ results as of Nov 9, 2016 displayed a year-over-year decline of 8.2% in earnings and 1.1% in revenues, per our latest Earnings Outlook. In comparison, S&P 500 companies that have reported so far posted a 4% increase in earnings on a 2.7% rise in revenues.
The decline in U.S. auto sales in August and September affected the quarterly results of many automakers. The pressure to maintain attractive incentives and deals also strained their margins. Further, expenses related to safety recalls as well as the adverse impact of foreign currency translation remain headwinds for the sector.
Meanwhile, strong sales growth in China and Europe has been the primary driving factor for the auto sector in Q3. Moreover, low fuel prices are driving the sales of higher margin vehicle segments, such as SUVs and light trucks.
With all these factors in mind, let’s see what awaits these three auto stocks that are slated to release third-quarter 2016 results on Nov 14.
Advance Auto Parts Inc. (AAP - Free Report) has an Earnings ESP of 0.00% because the Most Accurate estimate and the Zacks Consensus Estimate are both pegged at $1.74. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Advance Auto missed earnings in three of the last four quarters, posting a negative average surprise of 4.79%. The company carries a Zacks Rank #4 (Sell). (Read more: AAP Quick QuoteAAP - Free Report) %20Q3%20Earnings:%20What???s%20in%20Store?">Advance Auto Parts Q3 Earnings: What’s in Store?).
ADVANCE AUTO PT Price and EPS Surprise
ADVANCE AUTO PT Price and EPS Surprise | ADVANCE AUTO PT Quote
Power Solutions International, Inc. (PSIX - Free Report) currently has an Earnings ESP of 0.00% as the Most Accurate estimate and the Zacks Consensus Estimate are pegged at 20 cents. We note that Power Solutions recorded an average negative surprise of 38.09% over the last four quarters. The company carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
POWER SOL INTL Price and EPS Surprise
POWER SOL INTL Price and EPS Surprise | POWER SOL INTL Quote
SORL Auto Parts, Inc. has an Earnings ESP of 0.00% as the Most Accurate estimate and the Zacks Consensus Estimate are both pegged at 16 cents. The company posted positive earnings surprises in two of the trailing four quarters, with an average positive surprise of 7.46%. SORL Auto Parts currently carries a Zacks Rank #3.
SORL AUTO PARTS Price and EPS Surprise
SORL AUTO PARTS Price and EPS Surprise | SORL AUTO PARTS Quote
Confidential from Zacks
This week, Zacks researchers have named 7 other stocks that look to break out even sooner than today's Bull of the Day. You can see these time-sensitive tickers free, and access additional trades that are not available to the public. Simply click here>>