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Highly Ranked Stocks to Watch as Earnings Approach
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Following a week highlighted by big tech, this week’s earnings lineup features several top-rated stocks from a variety of sectors.
Set to release their quarterly results on Tuesday, February 6, here are several standout stocks that investors will certainly want to pay attention to.
Financial investment management firm AllianceBernstein is attractive ahead of its Q4 report and covets a Zack Rank #1 (Strong Buy) at the moment. Interestingly enough, AllianceBernstein’s Zacks Financial-Investment Management Industry is currently in the top 16% of over 250 Zacks industries.
AllianceBernstein’s Q4 earnings are expected to dip -8% to $0.64 a share but the Zacks ESP (Expected Surprise Prediction) indicates the company could top expectations with the Most Accurate Estimate at $0.66 a share. On the top line, Q4 sales are projected to be up 8% to $869.4 million. Most perplexing is that AllianceBernstein’s stock currently trades at a very reasonable 11.1X forward earnings multiple which makes its 7.78% annual dividend yield more alluring as well.
Music streaming services leader Spotify will be drawing a lot of attention on Tuesday and also boasts a Zacks Rank #1 (Strong Buy). Spotify belongs to the Zacks Business Services sector with its Zacks Technology Services Industry in the top 33% of all Zacks industries.
Gravitating towards what may eventually be lucrative profitability, Spotify is expected to post a much narrower adjusted loss of -$0.08 a share compared to -$1.43 a share in Q4 2022. Plus, quarterly sales are forecasted to jump 22% to $3.96 billion which would continue to foreshadow Spotify’s future earnings potential. This optimism has led to Spotify being one of the market's top performers with SPOT shares up +83% over the last year to largely outperform the broader indexes and the Zacks Technology Services Market’s +27%.
Image Source: Zacks Investment Research
Other Stocks to Watch
Chipotle Mexican Grill (CMG - Free Report) , Centene (CNC - Free Report) , and Ford (F - Free Report) are three other top-rated stocks to watch in Tuesday’s earnings lineup.
These stocks currently sport a Zacks Rank #2 (Buy) ahead of their quarterly results with Chipotle continuing to stand out in terms of its robust growth among the Zacks Retail and Wholesale sector while Ford and Centene are two intriguing value stocks to consider in the Zacks Auto sector and the Zacks Medical sector respectively.
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Highly Ranked Stocks to Watch as Earnings Approach
Following a week highlighted by big tech, this week’s earnings lineup features several top-rated stocks from a variety of sectors.
Set to release their quarterly results on Tuesday, February 6, here are several standout stocks that investors will certainly want to pay attention to.
AllianceBernstein (AB - Free Report)
Financial investment management firm AllianceBernstein is attractive ahead of its Q4 report and covets a Zack Rank #1 (Strong Buy) at the moment. Interestingly enough, AllianceBernstein’s Zacks Financial-Investment Management Industry is currently in the top 16% of over 250 Zacks industries.
AllianceBernstein’s Q4 earnings are expected to dip -8% to $0.64 a share but the Zacks ESP (Expected Surprise Prediction) indicates the company could top expectations with the Most Accurate Estimate at $0.66 a share. On the top line, Q4 sales are projected to be up 8% to $869.4 million. Most perplexing is that AllianceBernstein’s stock currently trades at a very reasonable 11.1X forward earnings multiple which makes its 7.78% annual dividend yield more alluring as well.
Image Source: Zacks Investment Research
Spotify (SPOT - Free Report)
Music streaming services leader Spotify will be drawing a lot of attention on Tuesday and also boasts a Zacks Rank #1 (Strong Buy). Spotify belongs to the Zacks Business Services sector with its Zacks Technology Services Industry in the top 33% of all Zacks industries.
Gravitating towards what may eventually be lucrative profitability, Spotify is expected to post a much narrower adjusted loss of -$0.08 a share compared to -$1.43 a share in Q4 2022. Plus, quarterly sales are forecasted to jump 22% to $3.96 billion which would continue to foreshadow Spotify’s future earnings potential. This optimism has led to Spotify being one of the market's top performers with SPOT shares up +83% over the last year to largely outperform the broader indexes and the Zacks Technology Services Market’s +27%.
Image Source: Zacks Investment Research
Other Stocks to Watch
Chipotle Mexican Grill (CMG - Free Report) , Centene (CNC - Free Report) , and Ford (F - Free Report) are three other top-rated stocks to watch in Tuesday’s earnings lineup.
These stocks currently sport a Zacks Rank #2 (Buy) ahead of their quarterly results with Chipotle continuing to stand out in terms of its robust growth among the Zacks Retail and Wholesale sector while Ford and Centene are two intriguing value stocks to consider in the Zacks Auto sector and the Zacks Medical sector respectively.