Earnings Reaction History: Broadcom Limited (AVGO) has a 82 chance to decline

Broadcom Limited (AVGO) is expected to announce third quarter financial results after market close (confirmed) on September 01, 2017. The company added about 1.4% percent in value since last earnings when it was at $234.59. Based on the most relevant historical data, there is a 82 percent probability for share price to go down following the next earnings report. Looking further into earnings reaction history, the stock had moved up 24 times out of last 29 quarters. It has topped earnings-per-share estimates 100% of the time in its last 12 earnings reports. It missed earnings on 0 occasions, and it has met expectations 0 time.

Broadcom Limited (AVGO) History

Overall, the average earnings surprise was 4.33 percent over the past four quarters. Back on June 01, 2017, it posted earnings per share at $3.69 which topped the consensus $3.50 projection (Positive surprise of 5.39%). Revenue came in at $4.2B versus consensus estimate of $4.11B. The stock gained 8.50% percent the day following the earnings was released, and on 7th day price change was 8.68% percent.

On March 01, 2017, it posted earnings per share at $3.63 versus the consensus estimate of $3.48 (Positive surprise of 4.35%). Revenue of $4.15B was above the $4.08B analysts had expected. The stock gained 1.00% the day following the earnings was released, and on 7th day price change was 2.09%.

On December 08, 2016, it posted earnings per share at $3.47, topped the consensus estimate of $3.38 (Positive surprise of 2.74%). Revenue for the quarter was $4.15B while analysts had expected revenues to come in at $4.12B. The stock gained 4.91% the day following the earnings was released, and on 7th day price change was -4.92%.

On September 01, 2016, it posted earnings per share at $2.89 compared with the consensus estimate of $2.76 (Positive surprise of 4.85%). That came on revenues of $3.8B for the quarter. Analysts had expected $3.76B in revenue.

Broadcom Limited (AVGO) Expectations

In front of Q3 earnings release, Wall Street is expecting earnings per share of $4.03. The analysts’ current consensus range is $4-$4.11 for EPS. The market consensus range for revenue is $4.44B-$4.53B, with an average of $4.46B.

Broadcom Limited (AVGO) last closed at $236.25, sending the company’s market cap around $95.52B. The consensus 12-month price target from brokerage firms covering the stock is $272.65. The share price has declined -8.00% from its best level in 52 weeks and advanced 33.65% this year. The stock ended last trading session with the price nearly -2.91% lower for the last 5 trading days, rebounding 66.06% from its 52-week low.