STOXX Europe 600 Index (STOXX)Monica L. Correa,
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Barclays analysts listed the top stocks for relative cheap earnings volume within the Stoxx Europe 600 (STOXX) for the first quarter earnings season.
In a Global Volatility Pulse report, analysts ranked the names based on two criteria. First, the implied earnings move versus the average realized earnings move over the past two years, in z-score terms; and second, Barclay’s “vol-score,” which quantifies the relative cheapness or richness of the implied volatility.
Vodafone Group (VOD), ABN AMRO Bank (OTCPK:AAVMY), and HSBC Holdings (HSBC) screen as the cheapest.
These are the top 10 names with the lowest implied earnings move vs. the realized earnings move and the lowest vol-score:
- Vodafone Group (VOD) – Earnings move implied z-score: -0.60; Implied vol-score: 0.13
- ABN AMRO Bank (OTCPK:AAVMY) – Earnings move implied z-score: -0.30; Implied vol-score: 0.09
- HSBC Holdings (HSBC) – Earnings move implied z-score: -0.40; Implied vol-score: 0.12
- Telefonaktiebolaget LM Ericsson (ERIC) – Earnings move implied z-score: -0.20; Implied vol-score: 0.07
- Infineon Technologies AG (OTCQX:IFNNY) – Earnings move implied z-score: -0.15; Implied vol-score: 0.04
- Novartis AG (NVS) – Earnings move implied z-score: -0.24; Implied vol-score: 0.15
- AstraZeneca Plc (AZN) – Earnings move implied z-score: -0.16; Implied vol-score: 0.11
- BP Plc (BP) – Earnings move implied z-score: -0.25; Implied vol-score: 0.25
- Continental AG (OTCPK:CTTAF) – Earnings move implied z-score: -0.33; Implied vol-score: 0.28
- Eni SpA (E) – Earnings move implied z-score: -0.23; Implied vol-score: 0.19