Media Stock Earnings Lineup For Nov 9: DISH, VIAB, TRCO, MEG

The overall earnings scenario this season has been quite encouraging. With most of the companies having already announced their quarterly numbers, this quarter is on track to be the first quarter of positive earnings growth after five consecutive quarters of decline. With key players scheduled to report earnings this week, our latest Earnings Preview now predicts earnings growth of 3% year over year on the back of 1.5% higher revenues. Moreover, we expect the trend to continue in the upcoming quarters.

Let us take a look at some media stocks that are expected to post their quarterly numbers on Nov 9.

Dish Network Corp. (NASDAQ:DISH) offers satellite television products and services. This Zacks Rank #4 (Sell) stock will be posting its third-quarter 2016 results. The company’s Earnings ESP is -5.80% as the Most Accurate estimate stands at 65 cents while the Zacks Consensus Estimate is pegged at 69 cents. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

According to our proven model, a company needs the right combination of two key ingredients – a positive earnings ESP and a Zacks Rank #3 (Hold) or better – to increase the odds of an earnings surprise. However, we caution against stocks with a Zacks Rank #4 or 5 (Sell-rated) going into the earnings announcement. (Read more: DISH Network Q3 Earnings: Disappointment in Store?)

Viacom, Inc. (NASDAQ:VIAB) , a leading global entertainment content company, is expected to report its fourth-quarter fiscal 2016 earnings. The company has a combination of a Zacks Rank #3 and an Earnings ESP of 0.00% (the Most Accurate estimate and the Zacks Consensus Estimate are at 65 cents). Though the company’s Zacks Rank #3 increases the predictive power of ESP, its 0.00% ESP makes surprise prediction difficult. (Read more: Will Q4 Earnings Hold a Surprise for Viacom Stock?)

Tribune Media Company (NYSE:TRCO) is engaged in broadcast distribution, digital properties and data businesses. This Zacks Rank #5 (Strong Sell) company will report its third-quarter 2016 numbers.

Tribune Media Company has an Earnings ESP of 0.00% as both the Most Accurate estimate and the Zacks Consensus Estimate are pegged at 52 cents. The combination of a Zacks Rank #3 and 0.00% ESP doesn’t show an earnings beat for Tribune Media Company this quarter.

Media General, Inc. (NYSE:MEG) operates as a television broadcasting and digital media company. This Zacks Rank #4 stock, slated to report third-quarter 2016 earnings, has an Earnings ESP of +2.94% (Zacks Consensus Estimate is at 34 cents and Most Accurate estimate is at 35 cents). As stated earlier, we caution against stocks with a Zacks Rank #4 or 5 (Sell-rated) going into the earnings announcement.

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Now See Our Private Investment Ideas

While the above ideas are being shared with the public, other trades are hidden from everyone but selected members. Would you like to peek behind the curtain and view them? Starting today, for the next month, you can follow all Zacks' private buys and sells in real time from value to momentum . . . from stocks under $10 to ETF and option moves . . . from insider trades to companies that are about to report positive earnings surprises (we've called them with 80%+ accuracy). You can even look inside portfolios so exclusive that they are normally closed to new investors. Click here for Zacks' secret trades >>