Earnings: Earnings surprise offers opportunities; stocks could return 10-34%

Earnings: Earnings surprise offers opportunities; stocks could return 10-34%

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Investors can look for opportunities in stocks that have reported better-than-expected earnings for FY24. Out of the 1,375 stocks with market capitalisation exceeding Rs 1,000 crore, 374 have surpassed analysts’ earnings per share (EPS) estimates in FY24, according to data from LSEG.

Among them, 20 are likely to offer returns exceeding 10% over the next one year as per analysts’ consensus estimates, data showed. For instance, Raymond reported an EPS of Rs 246 in FY24 compared to Rs 79 in FY23, which is 84% higher than analysts’ estimates.

According to consensus estimates, the stock can deliver 13% return in 12 months. Tata Motors also surprised the market by posting a tenfold increase in profits and an EPS of about Rs 95, nearly 60% above the Street’ expectations. Analyst consensus estimates suggest the stock can deliver a return of over 11%.

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Similarly, MedPlus Health, which reported an EPS 23% higher than Street expectations, is projected to deliver a return of 32%. Ramco Cements and EPL, with EPS surprise of about 15%, are expected to provide a return of over 25%.

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