Canada Markets closed
  • S&P/TSX

    17,274.25
    +179.72 (+1.05%)
     
  • S&P 500

    3,635.41
    +57.82 (+1.62%)
     
  • DOW

    30,046.24
    +454.97 (+1.54%)
     
  • CAD/USD

    0.7696
    +0.0002 (+0.0208%)
     
  • CRUDE OIL

    44.81
    -0.10 (-0.22%)
     
  • BTC-CAD

    24,885.29
    +31.76 (+0.13%)
     
  • CMC Crypto 200

    381.41
    +11.66 (+3.15%)
     
  • GOLD FUTURES

    1,808.90
    +4.30 (+0.24%)
     
  • RUSSELL 2000

    1,853.53
    +35.23 (+1.94%)
     
  • 10-Yr Bond

    0.8820
    +0.0250 (+2.92%)
     
  • NASDAQ futures

    12,148.00
    +72.00 (+0.60%)
     
  • VOLATILITY

    21.64
    -1.02 (-4.50%)
     
  • FTSE

    6,432.17
    +98.33 (+1.55%)
     
  • NIKKEI 225

    26,668.15
    +502.56 (+1.92%)
     
  • CAD/EUR

    0.6463
    -0.0003 (-0.05%)
     

Is a Surprise Coming for 1st Source (SRCE) This Earnings Season?

Zacks Equity Research
·2 min read

Investors are always looking for stocks that are poised to beat at earnings season and 1st Source Corporation SRCE 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 1st Source 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 SRCE in this report.

In fact, the Most Accurate Estimate for the current quarter is currently at 62 cents per share for SRCE, compared to a broader Zacks Consensus Estimate of 58 cents per share. This suggests that analysts have very recently bumped up their estimates for SRCE, giving the stock a Zacks Earnings ESP of +6.90% heading into earnings season.

1st Source Corporation Price and EPS Surprise

1st Source Corporation Price and EPS Surprise
1st Source Corporation Price and EPS Surprise

1st Source Corporation price-eps-surprise | 1st Source 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 SRCE has a Zacks Rank #3 (Hold) 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 1st Source, and that a beat might be in the cards for the upcoming report.

Looking for Stocks with Skyrocketing Upside?

Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.

Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.

See the pot trades we're targeting>>


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
1st Source Corporation (SRCE) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research