Caterpillar Inc. (CAT) is set to release its quarterly earnings on August 6, 2024, with a Most Accurate Estimate of $5.81 per share. The company’s Earnings Surprise Prediction (ESP) stands at +3.98%, calculated based on the difference between this estimate and the Zacks Consensus Estimate of $5.58. In the same vein, Johnson Controls International (JCI) will report earnings on August 7, 2024, with a Most Accurate Estimate of $1.10 per share and an ESP of +1.55% based on a consensus estimate of $1.08.
Historically, using Zacks’ criteria—a rank of #3 (Hold) or better alongside a positive ESP—stocks have achieved a positive surprise rate of 70%, leading to average annual returns of 28.3% over the past 10 years. Currently, approximately 60% of stocks fall into the #3 ranking, with #2 (Buy) and #1 (Strong Buy) categories expected to outperform the market.
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