At the beginning of the second calendar quarter, the 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 90% of the time – 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 second quarter — five likely to beat the analysts’ consensus estimate and another five likely to fall short.
In the case of these ten selections — each of which was the subject of an article on Alpha Now in the weeks leading up to their earnings announcement – nine went in the direction of the prediction. One company, Micron reported earnings at consensus, so we do not give ourselves credit for that one.
POSITIVE SURPRISES
NEGATIVE SURPRISES
More to come
Stay tuned as we start a series of predictions for the third quarter earnings starting tomorrow.
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