Medtronic (MDT) Q1 Earnings: Stock Likely To Beat Again?
Zacks Investment Research | Aug 17, 2017 10:10PM ET
We expect Ireland-based medical device major Medtronic plc (NYSE:MDT) to beat expectations when it reports first-quarter and fiscal 2018 results on Aug 22, before the opening bell.
Last quarter, the company posted earnings of $1.33 per share, surpassing the Zacks Consensus Estimate by 2 cents. In fact, Medtronic’s earnings outpaced the Zacks Consensus Estimate in all of the past four quarters with an average beat of 1.33%. Let’s see how things are shaping up prior to this announcement.
Why a Likely Positive Surprise?
Our proven model shows that Medtronic is likely to beat earnings because it has the perfect combination of two key ingredients.
Zacks ESP: Medtronic has an Earnings ESP Filter .
Zacks Rank: Medtronic currently carries a Zacks Rank #3 (Hold). Note that stocks with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 have a significantly higher chance of beating earnings estimates.
Conversely, we caution against stocks with a Zacks Rank #4 or 5 (Sell-rated stocks) going into the earnings announcement, especially when the company is seeing negative estimate revisions.
The combination of a favorable Zacks Rank and a positive ESP makes us reasonably confident of an earnings beat.
Medtronic PLC Price and EPS Surprise
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