Top Performing Stocks for the Week Ended Dec 12
The five best performing stocks on the Zacks #1 Rank List last week were: Powell Industries, Inc. (POWL - Snapshot Report), Infinity Property and Casualty Corporation (IPCC - Snapshot Report), Zhongpin Inc. (HOGS), ViroPharma Inc. (VPHM - Analyst Report) and Shanda Interactive Entertainment Ltd. (SNDA - Snapshot Report).
POWL earned 72 cents per share in the quarter, which easily exceeded the consensus of 57 cents by more than 26% while also trouncing the year-ago result of 22 cents. Revenues advanced 11% to $167.1 million from $150.5 million. Earnings estimates for the fiscal year ending September 2009 are on the rise, gaining 11% over the past 2 months and 1.6% in 7 days. POWL said it enters 2009 with a backlog that provides the ability to reach even higher levels of performance.
Infinity Property and Casualty Corporation (IPCC - Snapshot Report) made the Zacks #1 Rank Top Performers List for last week with shares that advanced 14.3%. Over the past 2 months, earnings estimates for this year and next are up approximately 25% and 9.4%, respectively. IPCC is a national provider of personal automobile insurance.
The company has a solid record of beating Wall Street's quarterly earnings expectations. The past 4 quarters amassed an average surprise of more than 62%. In late October, IPCC announced operating earnings per share of $1.03 for its third quarter, which easily topped the consensus while also inching past the year-ago result of $1. The rise in operating EPS was attributed to stronger-than-expected underwriting results and prudent capital management. As for its fourth quarter, earnings estimates have moved higher over the past month.
Zhongpin Inc. (HOGS) shares moved higher 9.1% for the week ended Dec 12, which was enough to make this Chinese meat and food processing company a top-performing Zacks #1 Rank. On Dec 1, the company announced an agreement to lease a pork production facility in Shenzhou city, beginning from early December 2008.
Earnings estimates for this year are up 5.3% over the past 2 months, while expectations for next year have advanced 3.5%. Analysts currently expect next year's profit to improve about 25% over this year, which is a good sign for the future. For its third quarter, HOGS announced earnings per share of 34 cents, which beat the consensus by 13.3%. Revenues surged 116% to $153.8 million. The quarter's results were attributed to strong demand for its products and the additional capacity added by the Luoyang plant.
ViroPharma Inc.'s (VPHM - Analyst Report) earnings estimates for this year and next are higher than levels from 2 months ago by approximately 10% and 25%, respectively. The biopharmaceutical company was a top-performing Zacks #1 Rank company last week with shares that increased 9%. VPHM was also featured as a Value Stock of the Day at Zacks.com earlier this month.
In late October, VPHM announced strong third-quarter sales due to record sales for Vancocin, a gastrointestinal infection treatment. Sales advanced more than 29% to $65.9 million. In addition, earnings per share of 33 cents topped the consensus by more than 43% and beat the year-earlier result of 26 cents. The company has now beaten Wall Street's quarterly earnings expectations in 3 out of the last 4 quarters. For 2008, VPHM expects net Vancocin sales between $235 million and $245 million.
Shanda Interactive Entertainment Ltd. (SNDA - Snapshot Report) recently reported strong third-quarter results, which helped shares gain 7.4%. That was enough to make this Chinese interactive entertainment media company a Zacks #1 Rank Top Performer for the week ended Dec 12. Earnings estimates for this year and next are up 4% and 3.8%, respectively, over the past 2 months, which includes gains of 2.7% and 2.3% in the past 30 days.
Diluted earnings per ADS reached US68 cents in the third quarter, which topped the consensus by more than 23%. The result also improved upon the year-earlier performance. Consolidated net revenues reached US$137.3 million, marking a year-over-year jump of 42.7%. Analysts expect profit growth of 18.3% for next year over this year.