Companies such as Copa Holdings and Nova reporting earnings next week have a track record of beating Wall Street’s expectations. After the frenzy of the past two weeks, earnings season will take a breath in the next few days. Just eight stocks in the S & P 500 and one component in the Dow Jones Industrial Average are due to post results. The first-quarter earnings season has been very strong so far. Of the more than 420 S & P 500 companies that have reported, nearly 85% have posted earnings beats, FactSet data shows. Around 78% have released revenues that exceeded expectations. Stocks can get a boost if their reports or guidance for future performance impresses investors. CNBC Pro screened data from Bespoke Investment Group to find companies that historically beat earnings expectations and see their shares gain on those numbers. To be included in the following table, companies had to have beaten analysts’ consensus earnings per share at least 70% of the time and average a gain of 1% or more the first day after posting their latest financials. Copa reports earnings next Wednesday, and the stock on average has risen 1.9% following each report. Last month, Goldman Sachs upgraded the Latin American airline carrier to buy from neutral. “We highlight the company operates at the lowest leverage within our coverage and has a geographical competitive advantage which should allow the company to withstand the current macroeconomic volatility and pass-through higher fuel prices to tickets with potentially lower impact to demand vis-à-vis other competitors in the region,” wrote analyst Joao Frizo. Frizo’s new price target of $151, up from $138, implies upside of about 23% from current levels. The stock has added 2% this year. Semiconductor manufacturing parts provider Nova reports earnings Thursday. Shares have on average risen 1.6% after the stock has reported earnings. In March, Barclays initiated coverage of the stock at an overweight rating and $465 price objective. The stock has surged 53% this year and closed at $534.54 on Wednesday afternoon, already overshooting Barclays’ price target. “NVMI addresses both the front and back-end through Dimensional, Chemical, and Materials metrology with an installed base of ~7,300 tools. We expect [water fabrication equipment] to grow robustly as capacity additions across Foundry/Logic and DRAM begin to take shape in 2HCY27 and 1HCY28,” analyst Tom O’Malley wrote. “We are partial to the overall metrology space as it grows to support yield improvements for more challenging technology transitions.” Other stocks reporting earnings next week that have historically posted surprise beats include Yeti , Vonage and Kornit Digital .
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Monday, August 17
