Advertisement
Canada markets closed

  • S&P/TSX

    21,873.72
    -138.00 (-0.63%)
     

  • S&P 500

    5,071.63
    +1.08 (+0.02%)
     

  • DOW

    38,460.92
    -42.77 (-0.11%)
     

  • CAD/USD

    0.7299
    -0.0022 (-0.29%)
     

  • CRUDE OIL

    82.76
    -0.60 (-0.72%)
     

  • Bitcoin CAD

    87,671.65
    -3,154.40 (-3.47%)
     

  • CMC Crypto 200

    1,377.16
    -46.94 (-3.29%)
     

  • GOLD FUTURES

    2,328.90
    -13.20 (-0.56%)
     

  • RUSSELL 2000

    1,995.43
    -7.22 (-0.36%)
     

  • 10-Yr Bond

    4.6520
    +0.0540 (+1.17%)
     

  • NASDAQ

    15,712.75
    +16.11 (+0.10%)
     

  • VOLATILITY

    15.97
    +0.28 (+1.78%)
     

  • FTSE

    8,040.38
    -4.43 (-0.06%)
     

  • NIKKEI 225

    38,460.08
    +907.92 (+2.42%)
     

  • CAD/EUR

    0.6818
    -0.0018 (-0.26%)
     
MARKETS LIVE BLOG:

STOCKS SHED GAINS, TESLA SURGES DAY AFTER EARNINGS

Tesla shares jump after EV maker vows to speed up launch of more affordable models

Is a Surprise Coming for Eldorado Gold (EGO) This Earnings Season?

Zacks Equity Research
·2 min read

Investors are always looking for stocks that are poised to beat at earnings season and Eldorado Gold Corporation EGO 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 Eldorado Gold 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 EGO in this report.

In fact, the Most Accurate Estimate for the current quarter is currently at 13 cents per share for EGO, compared to a broader Zacks Consensus Estimate of 11 cents per share. This suggests that analysts have very recently bumped up their estimates for EGO, giving the stock a Zacks Earnings ESP of +23.81% heading into earnings season.

Eldorado Gold Corporation Price and EPS Surprise

Eldorado Gold Corporation Price and EPS Surprise
Eldorado Gold Corporation Price and EPS Surprise

Eldorado Gold Corporation price-eps-surprise | Eldorado Gold Corporation Quote

ADVERTISEMENT

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 EGO has a Zacks Rank #3 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 Eldorado Gold, and that a beat might be in the cards for the upcoming report.

Free: Zacks’ Single Best Stock Set to Double

Today you are invited to download our latest Special Report that reveals 5 stocks with the most potential to gain +100% or more in 2020. From those 5, Zacks Director of Research, Sheraz Mian hand-picks one to have the most explosive upside of all.

This pioneering tech ticker had soared to all-time highs and then subsided to a price that is irresistible. Now a pending acquisition could super-charge the company’s drive past competitors in the development of true Artificial Intelligence. The earlier you get in to this stock, the greater your potential gain.

See 5 Stocks Set to Double>>


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
 
Eldorado Gold Corporation (EGO) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.