Investors are constantly on the lookout for stocks that are expected to perform well during earnings season, and Seagate Technology Holdings plc (STX) may fit the bill. The company is scheduled to release its earnings report soon, and the outlook is positive.
Analysts have recently revised their earnings estimates for Seagate Technology, which is typically a sign of potential outperformance. The Most Accurate Estimate for the current quarter is higher at 36 cents per share compared to the Zacks Consensus Estimate of 27 cents per share, indicating growing optimism among analysts.
Having a positive Zacks Earnings ESP, a combination of the Most Accurate Estimate and the Zacks Consensus Estimate, is a strong indicator of potential positive surprises. Historically, stocks with a positive ESP and a Zacks Rank #3 or better have shown positive surprises 70% of the time and have outperformed the market.
With a Zacks Rank #3 and a positive ESP, Seagate Technology looks promising ahead of its earnings release. The recent earnings estimate revisions point to a promising future for the company, suggesting a potential earnings beat in the upcoming report.
For the latest stock recommendations from Zacks Investment Research, investors can download the report on the 7 Best Stocks for the Next 30 Days. Seagate Technology Holdings PLC (STX) offers a free stock analysis report on Zacks.com for more information.