How to Find Strong Consumer Discretionary Stocks Slated for Positive Earnings Surprises
Wall Street closely follows a company’s quarterly report to gain insight into its recent performance and future prospects, with earnings being a key focus. Analysts pay particular attention to how a company’s actual earnings compare to expectations, as this can impact stock prices in the short term. Using the Zacks Expected Surprise Prediction (ESP) tool, investors can identify stocks with potential earnings surprises based on the most recent analyst estimates.
One stock to watch is MGM Resorts (MGM), which is expected to report earnings on May 1, 2024. With a Zacks Rank #3, MGM has an Earnings ESP of 37.96%, indicating a potential earnings beat. Another stock to consider is Paramount Global-B (PARA), set to report earnings on April 29, 2024. PARA has a Zacks Rank #3 and an Earnings ESP of 9.44%, suggesting a possible earnings surprise.
Both MGM and PARA have positive Earnings ESP figures, indicating the potential for earnings beats in their upcoming reports. Investors can use the Zacks Earnings ESP Filter to identify stocks with the highest probability of positive or negative surprises before they are reported, for profitable trading during earnings season. Stay informed with the latest recommendations from Zacks Investment Research by downloading the 7 Best Stocks for the Next 30 Days.
