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Interested in finding undervalued stocks? For ideas on where to look, we ran a screen you might be interested in.

We screened the S&P 500 index for stocks that appear undervalued relative to EPS trends. Based on the theoretical assumption that if P/E is equal to a constant K, growth in EPS estimates should be matched by proportionate growth in price. When they don't match up, a mispricing may have occurred. We screened for those exhibiting this mismatch between changes in EPS estimate and price.

Interactive Chart: Press Play to compare changes in analyst ratings over the last two years for the stocks mentioned below. Analyst ratings sourced from Zacks Investment Research.

Do you think these stocks should be trading higher? Use this list as a starting point for your own analysis.

1. Abercrombie & Fitch Co. (ANF): Operates as a specialty retailer of casual apparel for men, women, and kids. Market cap at $3.67B, most recent closing price at $47.97. The EPS estimate for the company's current year increased from 2.53 to 2.96 over the last 30 days, an increase of 17.%. This increase came during a time when the stock price changed by 12.05% (from 41.75 to 46.78 over the last 30 days).

3. Cabot Oil & Gas Corporation (COG): Engages in oil exploration, development, exploitation, and production. Market cap at $10.46B, most recent closing price at $49.74. The EPS estimate for the company's current year increased from 0.6 to 0.63 over the last 30 days, an increase of 5.%. This increase came during a time when the stock price changed by -2.46% (from 47.97 to 46.79 over the last 30 days).

3. EOG Resources, Inc. (EOG): Engages in the exploration, development, production, and marketing of natural gas and crude oil primarily in the United States, Canada, the Republic of Trinidad, Tobago, the United Kingdom, and the People's Republic of China. Market cap at $32.95B, most recent closing price at $120.79. The EPS estimate for the company's current year increased from 5.19 to 5.45 over the last 30 days, an increase of 5.01%. This increase came during a time when the stock price changed by 1.99% (from 116.67 to 118.99 over the last 30 days).

Source: 3 S&P 500 Stocks Undervalued By EPS Trends