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Why Fifth Third Bancorp (FITB) Might Surprise This Earnings Season
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Investors are always looking for stocks that are poised to beat at earnings season and Fifth Third Bancorp (FITB - 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 Fifth Third Bancorp 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 FITB in this report.
In fact, the Most Accurate Estimate for the current quarter is currently at 43 cents per share for FITB, compared to a broader Zacks Consensus Estimate of 42 cents per share. This suggests that analysts have very recently bumped up their estimates for FITB, giving the stock a Zacks Earnings ESP of +2.38% 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 Fifth Third Bancorp, and that a beat might be in the cards for the upcoming report.
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Why Fifth Third Bancorp (FITB) Might Surprise This Earnings Season
Investors are always looking for stocks that are poised to beat at earnings season and Fifth Third Bancorp (FITB - 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 Fifth Third Bancorp 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 FITB in this report.
In fact, the Most Accurate Estimate for the current quarter is currently at 43 cents per share for FITB, compared to a broader Zacks Consensus Estimate of 42 cents per share. This suggests that analysts have very recently bumped up their estimates for FITB, giving the stock a Zacks Earnings ESP of +2.38% heading into earnings season.
Fifth Third Bancorp Price and EPS Surprise
Fifth Third Bancorp Price and EPS Surprise | Fifth Third Bancorp 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 FITB 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 Fifth Third Bancorp, and that a beat might be in the cards for the upcoming report.
3 Top Picks to Ride the Hottest Tech Trend
Zacks just released a Special Report to guide you through a space that has already begun to transform our entire economy...
Last year, it was generating $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce d"the world's first trillionaires," but that should still leave plenty of money for those who make the right trades early. Download Report with 3 Top Tech Stocks >>