Should You Buy Phillips 66 (PSX) Ahead Of Earnings?

By Zacks Investment ResearchStock MarketsOct 25, 2017 09:16PM ET

www.investing.com/analysis/analisi--settimanale-ftse-mib-e-prospettive-200221188

Should You Buy Phillips 66 (PSX) Ahead Of Earnings?

By Zacks Investment Research | Oct 25, 2017 09:16PM ET

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Investors are always looking for stocks that are poised to beat at earnings season and Phillips 66 (NYSE:PSX) may be one such company. The firm has earnings coming up pretty soon, and events are shaping up quite nicely for their report.

That is because Phillips 66is seeing favorable earnings estimate revision activity as of late, which is generally a precursor to an earnings beat. After all, analysts raising estimates right before earnings — with the most up-to-date information possible — is a pretty good indicator of some favorable trends underneath the surface for PSX in this report.

In fact, the Most Accurate Estimate for the current quarter is currently at $1.64 per share for PSX, compared to a broader Zacks Consensus Estimate of $1.60 per share. This suggests that analysts have very recently bumped up their estimates for PSX, giving the stock a Zacks Earnings ESP of +2.43% heading into earnings season.

Phillips 66 Price and EPS Surprise

Phillips 66 Price and EPS Surprise | Phillips 66 Quote

Why is this Important?

A positive reading for the Zacks Earnings ESP has proven to be very powerful in producing both positive surprises, and outperforming the market. Our recent 10-year backtest shows that stocks that have a positive Earnings ESP and a Zacks Rank #3 (Hold) or better show a positive surprise nearly 70% of the time, and have returned over 28% on average in annual returns (see more Top Earnings ESP stocks here).

Given that PSX has a Zacks Rank #3 (Hold) and an ESP in positive territory, investors might want to consider this stock ahead of earnings. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Clearly, recent earnings estimate revisions suggest that good things are ahead for Phillips 66, and that a beat might be in the cards for the upcoming report.

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Phillips 66 (PSX): Free Stock Analysis Report

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Zacks Investment Research

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Should You Buy Phillips 66 (PSX) Ahead Of Earnings?

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