Why Cathay (CATY) is Poised to Beat Earnings Estimates Again

For the last reported quarter, Cathay came out with earnings of $1.10 per share versus the Zacks Consensus Estimate of $1.02 per share, representing a surprise of 7.84%. For the previous quarter, the company was expected to post earnings of $1.10 per share and it actually produced earnings of $1.25 per share, delivering a surprise of 13.64%. Our research shows that stocks with the combination of a positive Earnings ESP and a Zacks Rank #3 (Hold) or better produce a positive surprise nearly 70% of the time. ...