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Why Illumina (ILMN) Might Surprise This Earnings Season
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Investors are always looking for stocks that are poised to beat at earnings season and Illumina, Inc. (ILMN - 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 Illumina is seeing favorable earnings estimate revision activity as of late, which is generally a precursor to 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 ILMN in this report.
In fact, the Most Accurate Estimate for the current quarter is currently at $1.28 per share for ILMN, compared to a broader Zacks Consensus Estimate of $1.25 per share. This suggests that analysts have very recently bumped up their estimates for ILMN, giving the stock a Zacks Earnings ESP of +2.23% 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 Illumina, and that a beat might be in the cards for the upcoming report.
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Why Illumina (ILMN) Might Surprise This Earnings Season
Investors are always looking for stocks that are poised to beat at earnings season and Illumina, Inc. (ILMN - 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 Illumina is seeing favorable earnings estimate revision activity as of late, which is generally a precursor to 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 ILMN in this report.
In fact, the Most Accurate Estimate for the current quarter is currently at $1.28 per share for ILMN, compared to a broader Zacks Consensus Estimate of $1.25 per share. This suggests that analysts have very recently bumped up their estimates for ILMN, giving the stock a Zacks Earnings ESP of +2.23% heading into earnings season.
Illumina, Inc. Price and EPS Surprise
Illumina, Inc. Price and EPS Surprise | Illumina, 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 ILMN 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 Illumina, and that a beat might be in the cards for the upcoming report.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>