Each of the company logos represented herein are trademarks of Microsoft Corporation Dow Jones & Company Nasdaq, Inc. This page has not been authorized, sponsored, or otherwise approved or endorsed by the companies represented herein. Gildan Activewear's revenues are expected to be $822.03 million, down 8.2% from the year-ago quarter. The consensus EPS estimate for the quarter has been revised 1.3% higher over the last 30 days to the current level. This apparel maker is expected to post quarterly earnings of $0.61 per share in its upcoming report, which represents a year-over-year change of -29.1%. The results are expected to be released on August 3.
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Gildan Activewear ( GIL Quick Quote GIL - Free Report), another stock in the broader Zacks Consumer Discretionary sector, has yet to report results for the quarter ended June 2023. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
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In terms of the Zacks Industry Rank, Tools - Handheld is currently in the top 20% of the 250 plus Zacks industries. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. The current consensus EPS estimate is $4.25 on $1.15 billion in revenues for the coming quarter and $17.81 on $4.7 billion in revenues for the current fiscal year. It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
So, the shares are expected to outperform the market in the near future. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #2 (Buy) for the stock. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.Īhead of this earnings release, the estimate revisions trend for Snap-On: favorable. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.Įmpirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. While Snap-On has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? Snap-On shares have added about 28.8% since the beginning of the year versus the S&P 500's gain of 18.9%. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. The company has topped consensus revenue estimates four times over the last four quarters. This compares to year-ago revenues of $1.14 billion.
Snap-On, which belongs to the Zacks Tools - Handheld industry, posted revenues of $1.19 billion for the quarter ended June 2023, surpassing the Zacks Consensus Estimate by 0.59%. Over the last four quarters, the company has surpassed consensus EPS estimates four times. A quarter ago, it was expected that this tool and diagnostic equipment maker would post earnings of $4.14 per share when it actually produced earnings of $4.60, delivering a surprise of 11.11%. This quarterly report represents an earnings surprise of 7.95%. These figures are adjusted for non-recurring items. This compares to earnings of $4.27 per share a year ago. Snap-On ( SNA Quick Quote SNA - Free Report) came out with quarterly earnings of $4.89 per share, beating the Zacks Consensus Estimate of $4.53 per share.
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