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Barclays analysts listed the top stocks for relative expensive 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.
BT Group (OTCPK:BTGOF), UPM (OTCPK:UPMKF), and Standard Chartered (OTCPK:SCBFF) screen as the most elevated.
These are the top 10 names with the highest implied earnings move vs. the realized earnings move and the lowest vol-score:
- BT Group Plc (OTCPK:BTGOF) - Earnings move implied z-score: 0.13; Implied vol-score: 0.61
- UPM-Kymmene Oyj (OTCPK:UPMKF) - Earnings move implied z-score: 0.35; Implied vol-score: 0.51
- Standard Chartered Plc (OTCPK:SCBFF) - Earnings move implied z-score: -0.04; Implied vol-score: 0.76
- Burberry Group Plc (OTCPK:BURBY) - Earnings move implied z-score: 0.10; Implied vol-score: 0.72
- Ferrari N.V. (RACE) - Earnings move implied z-score: 0.84; Implied vol-score: 0.55
- Deutsche Telekom AG (OTCQX:DTEGY) - Earnings move implied z-score: 0.11; Implied vol-score: 0.77
- E.ON SE (OTCPK:EONGY) - Earnings move implied z-score: 0.10; Implied vol-score: 0.82
- Orsted A/S (OTCPK:DNNGY) - Earnings move implied z-score: 0.24; Implied vol-score: 0.78
- RWE AG (OTCPK:RWEOY) - Earnings move implied z-score: 0.32; Implied vol-score: 0.76
- ASML Holding N.V. (ASML) - Earnings move implied z-score: 0.46; Implied vol-score: 0.80