Investors are always looking for stocks that are poised to beat a t earnings season and Colliers International Group Inc. CIGI 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 Colliers International 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 CIGI in this report.
In fact, the Most Accurate Estimate for the current quarter is currently at 65 cents per share for CIGI, compared to a broader Zacks Consensus Estimate of 64 cents per share. This suggests that analysts have very recently bumped up their estimates for CIGI, giving the stock a Zacks Earnings ESP of +2.36% heading into earnings season.
Colliers International Group Inc. Price and EPS Surprise
Colliers International Group Inc. Price and EPS Surprise | Colliers International Group Inc. 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 CIGI has a Zacks Rank #3 and an ESP in positive territory, investors might want to consider this stock ahead o f 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 Colliers International, and that a beat might be in the cards for the upcoming report.
Radical New Technology Creates $12.3 Trillion Opportunity
Imagine buying Microsoft stock in the early days of personal computers… or Motorola after it released the world's first cell phone. These technologies changed our lives and created massive profits for investors.
Today, we're on the brink of the next quantum leap in technology. 7 innovative companies are leading this "4th Industrial Revolution" - and early investors stand to earn the biggest profits.
See the 7 breakthrough stocks now>>
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 Colliers International Group Inc. (CIGI): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research