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Investors are always looking for stocks that are poised to beat at earnings season and M&T Bank Corporation (MTB - 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 M&T Bank 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 MTB in this report.
In fact, the Most Accurate Estimate for the current quarter is currently at $3.63 per share for MTB, compared to a broader Zacks Consensus Estimate of $3.61 per share. This suggests that analysts have very recently bumped up their estimates for MTB, giving the stock a Zacks Earnings ESP of +0.55% 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 M&T Bank, and that a beat might be in the cards for the upcoming report.
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Today you are invited to download our just-released Special Report that reveals 5 stocks with the most potential to gain +100% or more in 2020. From those 5, Zacks Director of Research, Sheraz Mian hand-picks one to have the most explosive upside of all.
This pioneering tech ticker had soared to all-time highs and then subsided to a price that is irresistible. Now a pending acquisition could super-charge the company’s drive past competitors in the development of true Artificial Intelligence. The earlier you get in to this stock, the greater your potential gain.
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Should You Buy M&T Bank (MTB) Ahead of Earnings?
Investors are always looking for stocks that are poised to beat at earnings season and M&T Bank Corporation (MTB - 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 M&T Bank 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 MTB in this report.
In fact, the Most Accurate Estimate for the current quarter is currently at $3.63 per share for MTB, compared to a broader Zacks Consensus Estimate of $3.61 per share. This suggests that analysts have very recently bumped up their estimates for MTB, giving the stock a Zacks Earnings ESP of +0.55% heading into earnings season.
M&T Bank Corporation Price and EPS Surprise
M&T Bank Corporation price-eps-surprise | M&T Bank Corporation 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 MTB 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 M&T Bank, and that a beat might be in the cards for the upcoming report.
Free: Zacks’ Single Best Stock Set to Double
Today you are invited to download our just-released Special Report that reveals 5 stocks with the most potential to gain +100% or more in 2020. From those 5, Zacks Director of Research, Sheraz Mian hand-picks one to have the most explosive upside of all.
This pioneering tech ticker had soared to all-time highs and then subsided to a price that is irresistible. Now a pending acquisition could super-charge the company’s drive past competitors in the development of true Artificial Intelligence. The earlier you get in to this stock, the greater your potential gain.
Download Free Report Now >>