Published on 26 Apr 2023 on Zacks via Yahoo Finance
Why Earnings Season Could Be Great for STMicroelectronics (STM)
Investors are always looking for stocks that are poised to beat at earnings season and STMicroelectronics N.V. (STM), 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 STMicroelectronics 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 STM in this report.
In fact, the Most Accurate Estimate for the current quarter is currently at $1.03 per share for STM, compared to a broader Zacks Consensus Estimate of 97 cents per share. This suggests that analysts have very recently bumped up their estimates for STM, giving the stock a Zacks Earnings ESP of +6.55% heading into earnings season.