History
Earnings Surprise Momentum is a momentum investing strategy that was identified in research by academics Narasimhan Jegadeesh and Joshua Livnat in their paper, Revenue Surprises and Stock Returns. It specifically looks for companies that managed to significantly beat earnings and sales forecasts in their previous financial results. These 'earnings surprises' have been found to cause medium term increases in share prices. This is believed to be caused by analysts being slow to revise their forecasts and the market failing to adequately 'price-in' the better than expected results. Jegadeesh and Livnat found that the the top 20% of stocks in terms of upside earnings and sales surprises outperformed the market by 5.3%. They wrote: "Although analysts revise their forecasts of future earnings in response to revenue surprises, they are slow to incorporate fully the information in revenue surprises." more »
The Market Cap is a measure of a company's size - or specifically its total equity valuation. It is calculated by multiplying the current Share Price by the current number of Shares Outstanding. It is stated in Pounds Sterling.
Stockopedia explains Mkt Cap £m...
Market Capitalisation only takes into account the value of the company's shares (equity), it ignores the amount of debt a company may have taken on and therefore isn't the best indicator of the company's size. The Enterprise Value adds the net debt to the Market Cap and is a better indicator of the minimum amount that an acquiring company may have to pay to buy the firm outright.
What is the definition of EPS Surprise %, Last Interim?
If a company releases a number higher or lower than the consensus (a combination of all the released estimates), this is known respectively as a positive or negative surprise.
Stockopedia explains EPS Surprise %, Last Interim...
An upside surprise - where a company reports higher earnings than analysts predicted - has often been observed to trigger an increase in the stock price.
Which Guru Screens is EPS Surprise %, Last Interim used in?
What is the definition of EPS Surprise %, Last Interim?
If a company releases a number higher or lower than the consensus (a combination of all the released estimates), this is known respectively as a positive or negative surprise.
Stockopedia explains EPS Surprise %, Last Interim...
An upside surprise - where a company reports higher earnings than analysts predicted - has often been observed to trigger an increase in the stock price.
Which Guru Screens is EPS Surprise %, Last Interim used in?
If a company releases a number higher or lower than the consensus (a combination of all the released estimates), this is known respectively as a positive or negative surprise.
Stockopedia explains EPS Surprise % Last Yr...
An upside surprise - where a company reports higher earnings than analysts predicted - has often been observed to trigger an increase in the stock price.
Which Guru Screens is EPS Surprise % Last Yr used in?
What is the definition of Sales Surprise %, Last Interim?
If a company releases a number higher or lower than the consensus (a combination of all the released estimates), this is known respectively as a positive or negative surprise.
Stockopedia explains Sales Surprise %, Last Interim...
An upside surprise - where a company reports higher earnings than analysts predicted - has often been observed to trigger an increase in the stock price.
Which Guru Screens is Sales Surprise %, Last Interim used in?
This is sales over the last 12 months, translated in Pounds Sterling for all companies.
Stockopedia explains Sales £m...
The sales figure gives a sense for the scale of a company, although companies can have very different profit margins depending on the industry and state of the business, so this may not bear much relation to the earnings figure. Some however argue for the importance of sales, since sales figures are less easy to manipulate than either earnings or book value.
The Market Cap is a measure of a company's size - or specifically its total equity valuation. It is calculated by multiplying the current Share Price by the current number of Shares Outstanding. It is stated in Pounds Sterling.
Stockopedia explains Mkt Cap £m...
Market Capitalisation only takes into account the value of the company's shares (equity), it ignores the amount of debt a company may have taken on and therefore isn't the best indicator of the company's size. The Enterprise Value adds the net debt to the Market Cap and is a better indicator of the minimum amount that an acquiring company may have to pay to buy the firm outright.
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