Why Earnings Season Could Be Great For First Industrial Realty (FR)
Zacks Investment Research | Jan 14, 2018 08:58PM ET
Investors are always looking for stocks that are poised to beat at earnings season and First Industrial Realty Trust, Inc. (NYSE:FR) 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 First Industrial Realty 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 FR in this report.
Analysts have very recently bumped up their estimates for FR, giving the stock a Zacks Earnings ESP of +1.57% heading into earnings season.
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 Zacks Investment Research
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