Exact Sciences Corporation (NASDAQ:EXAS) is projected to declare fiscal fourth quarter financial results right before the stock market’s official open on February 23, 2017. The stock lost about -8.2 percent in price since last results when it was at $19.59 a share. Based on the most relevant past-periods data, there is an 66.67 percent probability for this firm’s share price to go down following next quarterly results. Earnings reaction history tells us that the equity price moved down 18 times out of last 27 reported quarters. It has beaten earnings-per-share estimates 66% of the time in its last 12 earnings reports. It fell short of earnings estimates on 3 occasions, and it has met expectations 1 time.
Here’s how traders responded to EXAS earnings announcements over the past few quarters.
Exact Sciences Corporation (EXAS) Earnings Surprises & Reaction
Given its history, the average earnings announcement surprise was 14.12 percent over the past four quarters. Back on October 26, 2016, it posted earnings per-share earnings at $-0.36 which beat the consensus $-0.43 projection (positive surprise of16.28%. For the quarter, revenue came in at 28.11M versus consensus estimate of 25.28M. The stock dropped -14.6 percent the session following the earnings reports were released, and on 7th day price change was -19.3 percent.
On July 26, 2016, it reported earnings at $-0.46 a share compared with the consensus estimate of $-0.55 per share (positive surprise of 16.36%). Revenue of 21.18M for that quarter was above the $18.54M analysts had expected. The stock climbed 30.1% the day following the earnings announcement, and on 7th day price change was 45.35%.
On May 3, 2016, it recorded $-0.49 a share in earnings which topped the consensus estimate of $-0.54 (positive surprise of 9.26%). Revenue for the quarter was $14.84M while analysts called for revenues to be $14.83M. The stock dropped -9.16% the day following the earnings data was made public, and on 7th day price change was -15.16%.
On February 24, 2016, it announced earnings per share at $-0.41 versus the consensus estimate of $-0.48 per share (positive surprise of 14.58%). That came on revenues of $14.42M for that period. Analysts had expected $14.82M in revenue.
Exact Sciences Corporation Earnings Estimates
As Q4 earnings announcement date approaches, Wall Street is expecting earnings per share of $-0.4. The analysts’ present consensus range is $-0.42-$-0.38 for EPS. The market consensus range for revenue is between $30.69M and $35.7M, with an average of $32.52M.
Exact Sciences Corporation (NASDAQ:EXAS) last ended at $17.57, sending the company’s market cap near $1.9B. The consensus 12-month price target from analysts covering the stock is $20. The share price has declined -22.94% from its top level in 52 weeks and dropped 31.51% this year. It recently traded at a volume of 3268955 shares. The recent trading ended with the price nearly 31.02 higher for the last 5 trading days, rebounding 276.23% from its 52-week low.