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NORTHAMPTON, MA / ACCESSWIRE / September 18, 2024 / See how Cintas' First Aid & Safety training gave a CEO the skills she needed to take quick action and save a young girl's life. When a child began choking at the Chicago airport, Jeff Ruby Culinary Entertainment CEO Britney Ruby Miller relied on the life-saving techniques from her Cintas First Aid & Safety training, showing the real-world impact of being prepared and educated for emergencies.
View additional multimedia and more ESG storytelling from Cintas on 3blmedia.com.
Contact Info: Spokesperson: Cintas Website: https://www.3blmedia.com/profiles/cintas Email: info@3blmedia.com
SOURCE: Cintas
View the original press release on accesswire.comWall Street expects a year-over-year increase in earnings on higher revenues when Cintas (CTAS) reports results for the quarter ended August 2024. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.
The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on September 25. On the other hand, if they miss, the stock may move lower.
While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise.
Zacks Consensus Estimate
This uniform rental company is expected to post quarterly earnings of $1 per share in its upcoming report, which represents a year-over-year change of +7.5%.
Revenues are expected to be $2.5 billion, up 6.6% from the year-ago quarter.
Estimate Revisions Trend
The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.
Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change.
Earnings Whisper
Estimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction).
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.
A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.
Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).
How Have the Numbers Shaped Up for Cintas?
For Cintas, the Most Accurate Estimate is lower than the Zacks Consensus Estimate, suggesting that analysts have recently become bearish on the company's earnings prospects. This has resulted in an Earnings ESP of -0.42%.
On the other hand, the stock currently carries a Zacks Rank of #3.
So, this combination makes it difficult to conclusively predict that Cintas will beat the consensus EPS estimate.
Does Earnings Surprise History Hold Any Clue?
While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.
For the last reported quarter, it was expected that Cintas would post earnings of $0.95 per share when it actually produced earnings of $1, delivering a surprise of +5.26%.
Over the last four quarters, the company has beaten consensus EPS estimates four times.
Bottom Line
An earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.
That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
Cintas doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
Zacks Investment Research
Siemens Aktiengesellschaft SIEGY announced that Siemens Smart Infrastructure and E.ON Drive Infrastructure signed a global framework agreement to improve Europe's electric vehicle charging infrastructure. The partnership will provide Siemens access to the web-based backend service Sifinity Control and DC charging stations.
Plans of the Siemens-E.ON Partnership
The agreement boosts Europe's charging infrastructure, with a focus on areas like Germany, Italy, Sweden and the U.K. This collaboration is expected to make a substantial contribution to Europe's e-mobility growth by offering a seamless and efficient charging experience for millions of electric vehicle users.
Over the following two years, the companies will develop the latest technologies. Under the partnership, they will work on developing innovations like truck charging and Megawatt charging to meet the growing demand for electric road transport.
SIEGY Advances eMobility at IAA Transportation 2024
In other developments, Siemens eMobility highlighted its recent advancements at the IAA Transportation 2024 in Hannover, which is one of the world's largest mobility trade fairs.
Siemens eMobility's acquisition of Heliox expands its IoT capabilities, strengthening its position in electric vehicle charging for fleets and depots. Siemens and Heliox are supporting Hamburg's transition to an emission-free bus fleet by 2030. They have installed 553 charging points, with Siemens providing 324 (50 MW capacity) and Heliox adding 229.
Siemens’ Q3 Top Line Declines Y/Y
The company came out with third-quarter fiscal 2024 earnings of $1.35 per share. SIEGY posted earnings per share of $2.37 in the second quarter of fiscal 2023.
Siemens posted revenues of $20.3 billion for the quarter ended June 2024, missing the Zacks Consensus Estimate of $21.5 billion. This compares to year-ago revenues of $21.1 billion million.
SIEGY Share Price Outperforms Industry’s Growth
Siemens’ shares have gained 26.7% in the past year compared with the industry’s 5.5% growth.
SIEGY’s Zacks Rank & Stocks to Consider
Siemens currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the Industrial Products sector are Crane Company CR, Flowserve Corporation FLS and Cintas Corporation CTAS. These three companies have a Zacks Rank #2 (Buy) at present. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for Crane’s 2024 earnings is pegged at $5.07 per share. The consensus estimate for 2024 earnings has moved north by 6% in the past 60 days. The company has a trailing four-quarter average earnings surprise of 11.2%. CR shares have gained 75.2% in a year.
Flowserve has an average trailing four-quarter earnings surprise of 18.2%. The Zacks Consensus Estimate for FLS’ 2024 earnings is pinned at $2.76 per share, which indicates year-over-year growth of 31.6%. The consensus estimate for 2024 earnings has moved north by 4% in the past 60 days. The company’s shares have gained 27.5% in a year.
The Zacks Consensus Estimate for Cintas’ 2024 earnings is pegged at $16.64 per share. The consensus estimate for 2024 earnings has moved north by 1% in the past 60 days. The company has a trailing four-quarter average earnings surprise of 4%. CTAS shares have gained 60.4% in a year.
Zacks Investment Research
Earnings are arguably the most important single number on a company's quarterly financial report. Wall Street clearly dives into all of the other metrics and management's input, but the EPS figure helps cut through all the noise.
We know earnings results are vital, but how a company performs compared to bottom line expectations can be even more important when it comes to stock prices, especially in the near-term. This means that investors might want to take advantage of these earnings surprises.
Hunting for 'earnings whispers' or companies poised to beat their quarterly earnings estimates is a somewhat common practice. But that doesn't make it easy. One way that has been proven to work is by using the Zacks Earnings ESP tool.
The Zacks Earnings ESP, Explained
The Zacks Earnings ESP, or Expected Surprise Prediction, aims to find earnings surprises by focusing on the most recent analyst revisions. The basic premise is that if an analyst reevaluates their earnings estimate ahead of an earnings release, it means they likely have new information that could possibly be more accurate.
The core of the ESP model is comparing the Most Accurate Estimate to the Zacks Consensus Estimate, where the resulting percentage difference between the two equals the Expected Surprise Prediction. The Zacks Rank is also factored into the ESP metric to better help find companies that appear poised to top their next bottom-line consensus estimate, which will hopefully help lift the stock price.
In fact, when we combined a Zacks Rank #3 (Hold) or better and a positive Earnings ESP, stocks produced a positive surprise 70% of the time. Perhaps most importantly, using these parameters has helped produce 28.3% annual returns on average, according to our 10 year backtest.
Stocks with a #3 (Hold) ranking, which is most stocks covered at 60%, are expected to perform in-line with the broader market. But stocks that fall into the #2 (Buy) and #1 (Strong Buy) ranking, or the top 15% and top 5% of stocks, respectively, should outperform the market. Strong Buy stocks should outperform more than any other rank.
Should You Consider Cintas?
The last thing we will do today, now that we have a grasp on the ESP and how powerful of a tool it can be, is to quickly look at a qualifying stock. Cintas (CTAS) holds a #2 (Buy) at the moment and its Most Accurate Estimate comes in at $1.01 a share nine days away from its upcoming earnings release on September 25, 2024.
By taking the percentage difference between the $1.01 Most Accurate Estimate and the $1 Zacks Consensus Estimate, Cintas has an Earnings ESP of +0.74%. Investors should also know that CTAS is one of a large group of stocks with positive ESPs. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
CTAS is one of just a large database of Industrial Products stocks with positive ESPs. Another solid-looking stock is Stanley Black & Decker (SWK).
Stanley Black & Decker is a Zacks Rank #3 (Hold) stock, and is getting ready to report earnings on October 25, 2024. SWK's Most Accurate Estimate sits at $1.03 a share 39 days from its next earnings release.
The Zacks Consensus Estimate for Stanley Black & Decker is $1.02, and when you take the percentage difference between that number and its Most Accurate Estimate, you get the Earnings ESP figure of +1.28%.
Because both stocks hold a positive Earnings ESP, CTAS and SWK could potentially post earnings beats in their next reports.
Find Stocks to Buy or Sell Before They're Reported
Use the Zacks Earnings ESP Filter to turn up stocks with the highest probability of positively, or negatively, surprising to buy or sell before they're reported for profitable earnings season trading. Check it out here >>
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