by Tajinder Dhillon.
The StarMine team has selected five European companies, using Eikon by Refinitiv, that we expect to miss FY19 earnings estimates, based on SmartEstimate® and Predicted Surprise data.
Our European selections for FY18 were 80% accurate, which can be seen here.
Our European picks for negative Predicted Surprises in FY19 are — 1&1 Drillisch AG (DRIG.DE), Antofagasta PLC (ANTO.L), K&S AG (SDFGn.DE), Renault SA (RENA.PA), Eni SpA (ENI.MI).
SmartEstimates® aim to provide earnings forecasts that are more accurate than I/B/E/S Consensus Estimates, by putting more weight on the recent forecasts of top-rated analysts. When SmartEstimates® diverge significantly from Consensus, you can anticipate the occurrence of earnings surprises with an accuracy rate of 70%. Revenue SmartEstimates® are even more predictive of surprises, with a historical accuracy rate of 78%.
1&1 Drillisch AG (DRIG.DE)
Antofagasta PLC (ANTO.L)
K&S AG (SDFGn.DE)
Renault SA (RENA.PA)
Eni SpA (ENI.MI)