If you're looking for stocks that are setting up in a base ahead of earnings, here's one that fits the bill: Earthstone Energy. It's expected to release its latest numbers around Mar. 10 and is currently about 17% below a 15.37 entry. The entry is based on a third-stage consolidation, which is less likely than an earlier-stage base to generate a big new run.
Buying a stock just ahead of earnings involves risk since you typically don't have enough time to build a profit cushion before the latest quarterly numbers come out. Be sure to follow sound buy and sell rules to minimize your exposure.
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Earnings growth picked up last quarter from 30% to 483%. But revenue gains fell from 314% to 169%.
Analysts are looking for earnings-per-share growth of 311% for the quarter, and 94% growth for the full year. Annual growth estimates were recently revised upward.
The company has a 98 Composite Rating and earns the No. 11 rank among its peers in the Oil&Gas-U.S. Exploration & Production industry group. Antero Resources, Continental Res and Devon Energy are among the top 5 highly rated stocks within the group.
Note: Dates for earnings reports are subject to change. Check the company's website for any updates.
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