Is Earnings Beat Likely For Eaton Vance (EV) Stock In Q2?
Zacks Investment Research | May 22, 2017 08:45AM ET
We expect Eaton Vance Corp. (NYSE:EV) to beat estimates when it reports second-quarter fiscal 2017 (ended Apr 30) results on Wednesday May 24, before the opening bell.
Last quarter, Eaton Vance’s adjusted earnings lagged the Zacks Consensus Estimate. Results were primarily hurt by a rise in expenses, partly offset by higher revenues.
Despite this dismal performance, the company’s shares rose nearly 3% for the three months ended Apr 30, 2017. Also, the Zacks Consensus Estimate remained stable over the last 30 days.
Why a Likely Positive Surprise?
Our proven model shows that Eaton Vance has the right combination of two key ingredients – positive Earnings ESP Filter .
Zacks ESP: The Earnings ESP for Eaton Vance is +3.39%. This is because the Most Accurate estimate of 61 cents is above the Zacks Consensus Estimate of 59 cents.
Zacks Rank: Eaton Vance carries a Zacks Rank #3. This further increase the chances of earnings beat.
Nonetheless, Eaton Vance doesn’t have a decent earnings surprise history. This is evident from the chart below:
Eaton Vance Corporation Price and EPS Surprise
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