Cameco (CCJ) Earnings Expected to Grow: Should You Buy?

Core Viewpoint - Wall Street anticipates a year-over-year increase in earnings for Cameco, driven by higher revenues, with a focus on how actual results will compare to estimates [1][2]. Earnings Expectations - Cameco is expected to report quarterly earnings of $0.26 per share, reflecting an 8.3% increase year-over-year, with revenues projected at $551.15 million, a 28.6% rise from the previous year [3]. - The earnings report is scheduled for November 7, 2024, and could influence stock movement based on whether results exceed or fall short of expectations [2]. Estimate Revisions - The consensus EPS estimate has been revised down by 36.84% over the last 30 days, indicating a reassessment by analysts [4]. - A positive Earnings ESP of +3.27% suggests analysts have recently become more optimistic about Cameco's earnings prospects [10]. Earnings Surprise Prediction - The Zacks Earnings ESP model indicates that a positive reading is a strong predictor of an earnings beat, especially when combined with a Zacks Rank of 1, 2, or 3 [8]. - Cameco currently holds a Zacks Rank of 3, indicating a likelihood of beating the consensus EPS estimate [10]. Historical Performance - In the last reported quarter, Cameco's actual earnings of $0.10 per share were significantly below the expected $0.28, resulting in a surprise of -64.29% [11]. - Over the past four quarters, Cameco has only beaten consensus EPS estimates once [12]. Conclusion - While Cameco is positioned as a potential earnings-beat candidate, other factors may also influence stock performance, making it essential to consider the broader context [15].