Investors are always looking for stocks that are poised to beat at earnings season and C4 Therapeutics, Inc. CCCC, 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 C4 Therapeutics 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 CCCC in this report.
In fact, the Most Accurate Estimate for the current quarter is currently at a loss of 59 cents per share for CCCC, compared to a broader Zacks Consensus Estimate of a loss of 60 cents per share. This suggests that analysts have very recently bumped up their estimates for CCCC, giving the stock a Zacks Earnings ESP of +2.32% heading into earnings season.
C4 Therapeutics, Inc. Price and EPS Surprise
C4 Therapeutics, Inc. price-eps-surprise | C4 Therapeutics, 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 CCCC 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 (Strong Buy) Rank stocks here.
Clearly, recent earnings estimate revisions suggest that good things are ahead for C4 Therapeutics, and that a beat might be in the cards for the upcoming report.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 77 billion devices by 2025, creating a $1.3 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 4 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2022.
Click here for the 4 trades >>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
C4 Therapeutics, Inc. (CCCC): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
