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Why Editas Medicine (EDIT) Might Surprise This Earnings Season
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Investors are always looking for stocks that are poised to beat at earnings season and Editas Medicine, Inc. (EDIT - 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 Editas Medicine 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 EDIT in this report.
In fact, the Most Accurate Estimate for the current quarter is currently at a loss of 42 cents per share for EDIT, compared to a broader Zacks Consensus Estimate of a loss of 62 cents per share. This suggests that analysts have very recently bumped up their estimates for EDIT, giving the stock a Zacks Earnings ESP of 32.36% 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 Editas Medicine, and that a beat might be in the cards for the upcoming report.
The Best & Worst of Zacks
Today you are invited to download the full, up-to-the-minute list of 220 Zacks Rank #1 "Strong Buys" free of charge. From 1988 through 2015 this list has averaged a stellar gain of +25% per year. Plus, you may download 220 Zacks Rank #5 "Strong Sells." Even though this list holds many stocks that seem to be solid, it has historically performed 6X worse than the market. See these critical buys and sells free >>
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Why Editas Medicine (EDIT) Might Surprise This Earnings Season
Investors are always looking for stocks that are poised to beat at earnings season and Editas Medicine, Inc. (EDIT - 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 Editas Medicine 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 EDIT in this report.
In fact, the Most Accurate Estimate for the current quarter is currently at a loss of 42 cents per share for EDIT, compared to a broader Zacks Consensus Estimate of a loss of 62 cents per share. This suggests that analysts have very recently bumped up their estimates for EDIT, giving the stock a Zacks Earnings ESP of 32.36% heading into earnings season.
Editas Medicine, Inc. Price and EPS Surprise
Editas Medicine, Inc. Price and EPS Surprise | Editas Medicine, 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 EDIT 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 Editas Medicine, and that a beat might be in the cards for the upcoming report.
The Best & Worst of Zacks
Today you are invited to download the full, up-to-the-minute list of 220 Zacks Rank #1 "Strong Buys" free of charge. From 1988 through 2015 this list has averaged a stellar gain of +25% per year. Plus, you may download 220 Zacks Rank #5 "Strong Sells." Even though this list holds many stocks that seem to be solid, it has historically performed 6X worse than the market. See these critical buys and sells free >>