German carmakers Volkswagen and BMW will announce their first-quarter earnings later today. The results come at a time when the growth environment is improving for both companies. Last month, in its annual report, BMW said the automaker was still on track to post slightly higher sales this year despite a drop in demand in the first quarter, including in China. Country. Similarly, Volkswagen reported a significant increase in deliveries during the same period despite weaker business in China, its single most important market. So how is its stock expected to trade? Using data from FactSet over the past five years, CNBC Pro found how the shares of two German companies performed against the benchmark DAX 40 index based on different results in their quarterly reports. Analysis of data since the last quarter of 2017 shows that Volkswagen, traded as VOW3 on the Frankfurt Stock Exchange, beat consensus estimates for earnings per share (EPS) 80% of the time. period, or 16 out of 21 quarters. However, despite beating EPS estimates, the automaker’s stock has historically underperformed 65% of the time compared to the benchmark on the day of the results. Also, the stock closed in the red for 11 days of results over the same period. Shares of the world’s second-largest automaker have improved slightly in more than a week since the results were released. VOW3 beat its benchmark 41% of the time when it reported better-than-expected EPS for the quarter. The stock also outperformed the benchmark 5.4 percentage points a week since the results and 6.5 percentage points a month in the same scenario. VOW3 rose 6.12% to 123.32 euros ($136.1) at midday London time on Wednesday. Analysts expect Volkswagen to report an EPS of 6.93 euros, according to data compiled by FactSet. The consensus price target of all analysts is for a gain of 24.9% over the next 12 months. VOW3-DE 1Y Mountain Meanwhile, analysis by CNBC Pro shows that shares of luxury carmaker BMW have historically reacted similarly to shares of Volkswagen on results day, with shares having underperforms DAX 67% of the time despite beating EPS estimates. However, its fortunes reversed for the better, with the stock outperforming the benchmark a week after the results 67% of the time. Shares of the German company have beaten DAX by 1, 3 and 8 percentage points in the day, week and month since their respective results, exceeding expectations. However, when the carmaker missed its EPS forecast, the stock underperformed the German benchmark 60% of the time and returned losses of 3.6, 5 and 3.5 percentage points, respectively. in days, weeks and months from the date of the results. Analysts expect BMW to report EPS of 4.31 euros, according to figures compiled by FactSet. The consensus price target of all analysts is for a 6.8% gain over the next 12 months. Mount BMW3-DE 1Y