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Earnings Estimates Rising for Dayforce (DAY): Will It Gain?
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Dayforce (DAY - Free Report) could be a solid choice for investors given the company's remarkably improving earnings outlook. While the stock has been a strong performer lately, this trend might continue since analysts are still raising their earnings estimates for the company.
Analysts' growing optimism on the earnings prospects of this provider of human-resources software and services is driving estimates higher, which should get reflected in its stock price. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements. This insight is at the core of our stock rating tool -- the Zacks Rank.
The five-grade Zacks Rank system, which ranges from a Zacks Rank #1 (Strong Buy) to a Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record of outperformance, with Zacks #1 Ranked stocks generating an average annual return of +25% since 2008.
For Dayforce, there has been strong agreement among the covering analysts in raising earnings estimates, which has helped push consensus estimates considerably higher for the next quarter and full year.
Current-Quarter Estimate Revisions
For the current quarter, the company is expected to earn $0.45 per share, which is a change of +21.62% from the year-ago reported number.
Over the last 30 days, the Zacks Consensus Estimate for Dayforce has increased 7.5% because two estimates have moved higher while two have gone lower.
Current-Year Estimate Revisions
The company is expected to earn $1.84 per share for the full year, which represents a change of +21.85% from the prior-year number.
There has been an encouraging trend in estimate revisions for the current year as well. Over the past month, five estimates have moved up for Dayforce versus no negative revisions. This has pushed the consensus estimate 19.73% higher.
Favorable Zacks Rank
The promising estimate revisions have helped Dayforce earn a Zacks Rank #2 (Buy). The Zacks Rank is a tried-and-tested rating tool that helps investors effectively harness the power of earnings estimate revisions and make the right investment decision. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Our research shows that stocks with Zacks Rank #1 (Strong Buy) and 2 (Buy) significantly outperform the S&P 500.
Bottom Line
Dayforce shares have added 8.6% over the past four weeks, suggesting that investors are betting on its impressive estimate revisions. So, you may consider adding it to your portfolio right away to benefit from its earnings growth prospects.
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Earnings Estimates Rising for Dayforce (DAY): Will It Gain?
Dayforce (DAY - Free Report) could be a solid choice for investors given the company's remarkably improving earnings outlook. While the stock has been a strong performer lately, this trend might continue since analysts are still raising their earnings estimates for the company.
Analysts' growing optimism on the earnings prospects of this provider of human-resources software and services is driving estimates higher, which should get reflected in its stock price. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements. This insight is at the core of our stock rating tool -- the Zacks Rank.
The five-grade Zacks Rank system, which ranges from a Zacks Rank #1 (Strong Buy) to a Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record of outperformance, with Zacks #1 Ranked stocks generating an average annual return of +25% since 2008.
For Dayforce, there has been strong agreement among the covering analysts in raising earnings estimates, which has helped push consensus estimates considerably higher for the next quarter and full year.
Current-Quarter Estimate Revisions
For the current quarter, the company is expected to earn $0.45 per share, which is a change of +21.62% from the year-ago reported number.
Over the last 30 days, the Zacks Consensus Estimate for Dayforce has increased 7.5% because two estimates have moved higher while two have gone lower.
Current-Year Estimate Revisions
The company is expected to earn $1.84 per share for the full year, which represents a change of +21.85% from the prior-year number.
There has been an encouraging trend in estimate revisions for the current year as well. Over the past month, five estimates have moved up for Dayforce versus no negative revisions. This has pushed the consensus estimate 19.73% higher.
Favorable Zacks Rank
The promising estimate revisions have helped Dayforce earn a Zacks Rank #2 (Buy). The Zacks Rank is a tried-and-tested rating tool that helps investors effectively harness the power of earnings estimate revisions and make the right investment decision. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Our research shows that stocks with Zacks Rank #1 (Strong Buy) and 2 (Buy) significantly outperform the S&P 500.
Bottom Line
Dayforce shares have added 8.6% over the past four weeks, suggesting that investors are betting on its impressive estimate revisions. So, you may consider adding it to your portfolio right away to benefit from its earnings growth prospects.