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Is a Surprise Coming for Workhorse Group (WKHS) This Earnings Season?
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Investors are always looking for stocks that are poised to beat at earnings season and Workhorse Group, Inc. (WKHS - Free Report) may be one such company. The firm has earnings coming up pretty soon, and events are shaping up quite nicely for their report.
That is because Workhorse Group is seeing favorable earnings estimate revision activity as of late, which is generally a precursor to an earnings beat. After all, analysts raising estimates right before earnings — with the most up-to-date information possible — is a pretty good indicator of some favorable trends underneath the surface for WKHS in this report.
In fact, the Most Accurate Estimate for the current quarter is currently at a loss of 16 cents per share for WKHS, compared to a broader Zacks Consensus Estimate of a loss of 19 cents per share. This suggests that analysts have very recently bumped up their estimates for WKHS, giving the stock a Zacks Earnings ESP of +13.51% heading into earnings season.
A positive reading for the Zacks Earnings ESP has proven to be very powerful in producing both positive surprises, and outperforming the market. Our recent 10-year backtest shows that stocks that have a positive Earnings ESP and a Zacks Rank #3 (Hold) or better show a positive surprise nearly 70% of the time, and have returned over 28% on average in annual returns (see more Top Earnings ESP stocks here).
Clearly, recent earnings estimate revisions suggest that good things are ahead for Workhorse Group, and that a beat might be in the cards for the upcoming report.
+1,500% Growth: One of 2021’s Most Exciting Investment Opportunities
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Zacks has released a special report to help you capitalize on the Internet of Things’s exponential growth. It reveals 4 under-the-radar stocks that could be some of the most profitable holdings in your portfolio in 2021 and beyond.
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Is a Surprise Coming for Workhorse Group (WKHS) This Earnings Season?
Investors are always looking for stocks that are poised to beat at earnings season and Workhorse Group, Inc. (WKHS - Free Report) may be one such company. The firm has earnings coming up pretty soon, and events are shaping up quite nicely for their report.
That is because Workhorse Group is seeing favorable earnings estimate revision activity as of late, which is generally a precursor to an earnings beat. After all, analysts raising estimates right before earnings — with the most up-to-date information possible — is a pretty good indicator of some favorable trends underneath the surface for WKHS in this report.
In fact, the Most Accurate Estimate for the current quarter is currently at a loss of 16 cents per share for WKHS, compared to a broader Zacks Consensus Estimate of a loss of 19 cents per share. This suggests that analysts have very recently bumped up their estimates for WKHS, giving the stock a Zacks Earnings ESP of +13.51% heading into earnings season.
Workhorse Group, Inc. Price and EPS Surprise
Workhorse Group, Inc. price-eps-surprise | Workhorse Group, Inc. Quote
Why is this Important?
A positive reading for the Zacks Earnings ESP has proven to be very powerful in producing both positive surprises, and outperforming the market. Our recent 10-year backtest shows that stocks that have a positive Earnings ESP and a Zacks Rank #3 (Hold) or better show a positive surprise nearly 70% of the time, and have returned over 28% on average in annual returns (see more Top Earnings ESP stocks here).
Given that WKHS has a Zacks Rank #3 and an ESP in positive territory, investors might want to consider this stock ahead of earnings. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Clearly, recent earnings estimate revisions suggest that good things are ahead for Workhorse Group, and that a beat might be in the cards for the upcoming report.
+1,500% Growth: One of 2021’s Most Exciting Investment Opportunities
In addition to the stocks you read about above, would you like to see Zacks’ top picks to capitalize on the Internet of Things (IoT)? It is one of the fastest-growing technologies in history, with an estimated 77 billion devices to be connected by 2025. That works out to 127 new devices per second.
Zacks has released a special report to help you capitalize on the Internet of Things’s exponential growth. It reveals 4 under-the-radar stocks that could be some of the most profitable holdings in your portfolio in 2021 and beyond.
Click here to download this report FREE >>