by Sridharan Raman.
At the beginning of the first quarter, our StarMine research team perused corporate earnings forecasts in search of companies that it believed would most likely to report a big surprise (either positive or negative) when they announced their results.
All the numbers are in and we find that StarMine was right in 8 out of the 10 picks – just above its historical average.
Using StarMine SmartEstimate and Predicted Surprise data, we highlighted 10 companies that we believed had a high probability of recording an earnings surprise in the first quarter — five likely to beat the analysts’ consensus estimate and another five likely to fall short.
In the case of these ten selections – eight went in the direction of the prediction and two went in the opposite direction. Stay tuned for our picks for the second quarter of 2016.