We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Kronos Worldwide and Yum China have been highlighted as Zacks Bull and Bear of the Day
Read MoreHide Full Article
For Immediate Release
Chicago, IL – June 10, 2022 – Zacks Equity Research shares Kronos Worldwide (KRO - Free Report) as the Bull of the Day and Yum China (YUMC - Free Report) asthe Bear of the Day. In addition, Zacks Equity Research provides analysis on The Allstate Corp. (ALL - Free Report) and The Travelers Companies, Inc. (TRV - Free Report) .
Kronos Worldwide, a Zacks Rank #1 (Strong Buy) stock, has surged over 200% since the March 2020 bottom after dropping to roughly $6/share at the trough of the pandemic-induced market plunge. Only the best companies that are experiencing stellar revenue and earnings growth are able to make this type of price move. KRO is currently trading near new highs on the year, even as the market continues to be in a correction.
Kronos boasts the highest Zacks Momentum Style Score of 'A.' The company is a component of the Zacks Chemical – Diversified industry, which ranks in the top 22% of all Zacks Ranked Industries. The group is roughly flat this year while the S&P is down more than 13%.
Quantitative research studies have repeatedly shown that roughly half of a stock's future price appreciation is due to its industry grouping. By targeting stocks contained within top industry groups, investors can dramatically improve their rate of success. The Chemicals – Diversified industry is part of the Zacks Basic Materials sector, which ranks in the top 19% of all 16 Zacks Ranked Sectors.
Company Description
Kronos is a global producer and marketer of titanium dioxide pigments. Titanium dioxide is a naturally occurring oxide of titanium. And when ground into a fine powder, it transforms into a pigment that provides whiteness, brightness, opacity and durability for products like paint, coatings, plastics, and paper.
Nature does not yield titanium dioxide in a usable form – it must be carefully mined and refined, and Kronos uses chloride and sulfate processes to achieve this. Through its distributors and agents, Kronos sells its products to over 4,000 domestic and international paint, plastics, and paper manufacturers in approximately 100 countries. The company was founded in 1916 and is headquartered in Dallas, TX.
Recent Earnings and Future Estimates
Kronos has exceeded earnings estimates in three of the past four quarters. The company most recently reported first-quarter earnings earlier this month of $57.5 million or $0.50 cents per share, which translated to a 78.57% positive surprise versus the $0.28 cent consensus estimate. This compares quite favorably to the $0.17 per share that Kronos delivered in the same quarter last year.
Net sales rose 21% year-over-year in the first quarter to $562.9 million, which were driven by higher titanium dioxide selling prices and volumes. Kronos has posted a trailing four-quarter average earnings surprise of 24.02%. The company has been consistently beating earnings estimates lately and the stock price is reflecting this.
Looking ahead, earnings estimates for this year as well as 2023 have been skyrocketing. In the past 30 days, fiscal 2022 EPS estimates have been increased by 60.94% to $2.06 per share, which reflects a 110.2% growth rate relative to last year. It's obvious the growth is there and looks set to continue.
Charting the Course
KRO has really started to display true signs of relative strength this year, as it has returned investors north of 30% - widely outperforming the major indices. The price ascent has not slowed down as of late, even as the recent rally has taken a breather.
Notice how both the 50 and 200-day moving averages are sloping up in the chart below, evidenced by the blue and red lines, respectively. The stock does appear extended in the short-term, and bullish investors may consider waiting for a slight pullback before initiating a new purchase.
However, empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. And as we know, Kronos has seen a steady batch of positive revisions as of late. As long as this trend remains intact (and KRO continues to post earnings beats), the stock should continue its bullish move this year.
Other Factors to Consider
Despite the massive price run, KRO currently trades at just a 9.4 forward P/E, which compares favorably to that of its industry group (10.68).
Kronos is currently ranked a Zacks Rank #1 (Strong Buy). The stock is ranked favorably by our Style Score Categories with a 'B' for Value and 'A' for Momentum, paving the way for an overall B VGM score. This indicates that there's a strong likelihood that Kronos momentum will continue on the heels of strong sales and earnings growth. Kronos also pays an annual dividend of $0.76 cents, which translates to a very respectable 4.07% yield.
Bottom Line
With a history of surpassing earnings estimates and an improving future outlook, Kronos represents a great opportunity. It's not difficult to see why this stock is a compelling investment with an attractive dividend yield and strong price momentum.
Solid institutional buying and a high-performing industry group should continue to provide a tailwind for the stock price. Recent positive earnings estimate revisions will help to provide a cushion during any potential market decline. If you're looking for a way to diversify your portfolio, make sure to put KRO on your shortlist.
Yum China, a Zacks Rank #5 (Strong Sell) stock, owns and franchises restaurants in China. The company operates restaurants under recognized brands such as KFC, Pizza Hut, Taco Bell, Little Sheep, and Lavazza. Yum China is running over 12,000 restaurants in approximately 1,700 cities. The company was incorporated in 2016 and is headquartered in Shanghai, China.
The Zacks Rundown
Yum China, which became an independent, publicly-traded company in 2016, has been severely underperforming the market over the past year. YUMC experienced a climax top in June of last year and has been in a price downtrend ever since. The stock has hit a series of 52-week lows this year and represents a compelling short opportunity as the market continues its volatile start to 2022.
YUMC is part of the Zacks Retail – Restaurants industry group, which currently ranks in the bottom 23% out of approximately 250 industries. Because this industry is ranked in the bottom half of all Zacks Ranked Industries, we expect it to underperform the market over the next 3 to 6 months.
Candidates in the bottom half of industry groups can often represent solid potential short candidates. While individual stocks have the ability to outperform even when included in poor-performing industries, their industry association serves as a headwind for any potential rallies. Yum China is fighting an uphill battle and the stock is confirming this notion as it continues to make a series of lower lows.
Recent Earnings and Deteriorating Forecasts
The company reported its first quarter results last month. YUMC posted quarterly EPS of $0.24, missing the Zacks Consensus Estimate of $0.29 by -17.24%. For the current quarter, Zacks is anticipating a significant EPS decline to $-0.01/share, reflecting negative growth of -102.38% year-over-year.
YUMC has missed the mark in terms of earnings estimates in each of the past four quarters. The restaurant operator has posted a trailing four-quarter average earnings miss of -29.33%. When you're missing consensus estimates by that amount over time, you're going to be fighting against the current when it comes to the stock price.
Analysts covering YUMC have decreased their annual earnings estimates recently. For 2022, the current Zacks Consensus Estimate sits at $0.77, down -45% from just 60 days ago. This would represent a negative growth rate of -36.36% relative to fiscal 2021.
Technical Outlook
YUMC stock has been steadily falling since last year and has now established a well-defined downtrend. Notice how 200-day (red line) moving average is sloping down. Shares have declined more than 35% in the past year. The stock continues to trade below the 200-day moving average, which has acted as resistance throughout the price move.
Even with the recent declines, YUMC is still relatively overvalued.
Final Thoughts
Recent earnings misses and an unpredictable equity market don't exactly favor bullish YUMC investors. Our Zacks Style Scores depict a weakening outlook for this stock, as YUMC is rated a second worst-possible 'D' in our Value category and a 'D' for our overall VGM score. A deteriorating fundamental and technical backdrop show that this stock is fighting an uphill battle.
The fact that YUMC is part of one of the worst-performing industry groups simply adds another headwind to a long list of concerns. Potential investors should only think about including this stock in their portfolio as part of a hedge or short strategy. Bulls will want to steer clear of an overvalued YUMC until the situation shows major signs of improvement.
Additional content:
Which of These P&C Insurers Has the Edge?
With another hurricane season already underway, property and casualty insurers are bracing up to weather its impact. The rise in interest rate is indicative of a healthy economy, which along with prudent underwriting, instills confidence for the days ahead.
P&C insurers' profitability is inversely related to catastrophic events. Colorado State University (CSU) expects an active Atlantic hurricane season this year with 19 named storms. These include nine hurricanes and four major hurricanes. This year's hurricane season could be about 130% of average season per CSU.
Improving pricing will help limit the downside. Per Willis Towers Watson's 2022 Insurance Marketplace Realities report, rates will continue to rise but by a small margin. Better pricing will help insurers write higher premiums and address claims payment prudently. Per Deloitte insights, global non-life premiums are estimated to grow 3.7% in 2022. Exposure growth, prudent underwriting, favorable reserve development and sturdy capital level are other tailwinds that should support P&C insurers.
The interest rate environment has started to improve. With two rates hikes already this year and more in the cards, insurers, being the direct beneficiary of an improving rate environment, are poised to benefit.
Accelerated digitalization with the use of technology like blockchain, artificial intelligence, advanced analytics, telematics, cloud computing and robotic process automation expedite business operations and save cost.
Solid policyholders' surplus will help the industry absorb losses. Also, given the solid capital level, insurers are actively pursuing strategic mergers and acquisitions and investing in growth initiatives apart from engaging in share buybacks, increasing dividends or paying out special dividends.
The industry has gained 5.2% year to date against the Finance sector's decrease of 9.6% and the Zacks S&P 500 composite's decline of 15.9%.
Here we focus on two property and casualty insurers, namely The Allstate Corp. and The Travelers Companies, Inc.. Allstate is the third-largest property-casualty (P&C) insurer and the largest publicly-held personal lines carrier in the United States.
Let's now see how these P&C insurers have fared in terms of some of the key metrics.
Price Performance
Travelers has rallied 13.7% year to date compared with the industry's increase of 5.2% and Allstate's decline of 1.5%.
Return on Equity (ROE)
Travelers has a return on equity of 13.8%, which exceeds Allstate's ROE of 12.5% and the industry average of 5.7%.
Valuation
Price-to-book value is the best multiple used for valuing insurers. Compared with Allstate's reading of 1.7, Travelers is cheaper with a reading of 1.65. The P&C insurance industry's P/B ratio is 1.3.
Dividend Yield
Allstate's dividend yield of 2.3% tops Travelers' 2% as well as the industry's average of 0.4%.
Leverage
Travelers's debt-to-equity ratio of 28.6 is lower than the industry average of 23.6 as well as Allstate's reading of 34.5.
Earnings Surprise History
Travelers outpaced expectations in each of the four trailing quarters, delivering an earnings surprise of 31.40%, on average. Allstate surpassed estimates in two of the last four reported quarters, with the average surprise being negative 8.84%.
Growth Projection
The Zacks Consensus Estimate for 2022 earnings indicates a 3.2% decline from the year-ago reported figure for Travelers and 32.2% for Allstate.
The long-term expected earnings growth is pegged at 3.5% for Travelers and 5.4% for Allstate.
Travelers' Growth Score of B is better than a Growth Score of D for Allstate. Growth Score analyzes the growth prospects of a company.
VGM Score
VGM Score rates each stock on their combined weighted styles, helping to identify those with the most attractive value, best growth and most promising momentum. Travelers has an impressive VGM Score of A while Allstate has a VGM Score of B. Travelers thus has an edge in this respect.
To Conclude
Our comparative analysis shows that Travelers has an edge over Allstate with respect to almost all the parameters.
Why Haven't You Looked at Zacks' Top Stocks?
Our 5 best-performing strategies have blown away the S&P's impressive +28.8% gain in 2021. Amazingly, they soared +40.3%, +48.2%, +67.6%, +94.4%, and +95.3%. Today you can access their live picks without cost or obligation.
Zacks.com provides investment resources and informs you of these resources, which you may choose to use in making your own investment decisions. Zacks is providing information on this resource to you subject to the Zacks "Terms and Conditions of Service" disclaimer. www.zacks.com/disclaimer.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss.This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performancefor information about the performance numbers displayed in this press release.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Kronos Worldwide and Yum China have been highlighted as Zacks Bull and Bear of the Day
For Immediate Release
Chicago, IL – June 10, 2022 – Zacks Equity Research shares Kronos Worldwide (KRO - Free Report) as the Bull of the Day and Yum China (YUMC - Free Report) asthe Bear of the Day. In addition, Zacks Equity Research provides analysis on The Allstate Corp. (ALL - Free Report) and The Travelers Companies, Inc. (TRV - Free Report) .
Here is a synopsis of all four stocks:
Bull of the Day:
Kronos Worldwide, a Zacks Rank #1 (Strong Buy) stock, has surged over 200% since the March 2020 bottom after dropping to roughly $6/share at the trough of the pandemic-induced market plunge. Only the best companies that are experiencing stellar revenue and earnings growth are able to make this type of price move. KRO is currently trading near new highs on the year, even as the market continues to be in a correction.
Kronos boasts the highest Zacks Momentum Style Score of 'A.' The company is a component of the Zacks Chemical – Diversified industry, which ranks in the top 22% of all Zacks Ranked Industries. The group is roughly flat this year while the S&P is down more than 13%.
Quantitative research studies have repeatedly shown that roughly half of a stock's future price appreciation is due to its industry grouping. By targeting stocks contained within top industry groups, investors can dramatically improve their rate of success. The Chemicals – Diversified industry is part of the Zacks Basic Materials sector, which ranks in the top 19% of all 16 Zacks Ranked Sectors.
Company Description
Kronos is a global producer and marketer of titanium dioxide pigments. Titanium dioxide is a naturally occurring oxide of titanium. And when ground into a fine powder, it transforms into a pigment that provides whiteness, brightness, opacity and durability for products like paint, coatings, plastics, and paper.
Nature does not yield titanium dioxide in a usable form – it must be carefully mined and refined, and Kronos uses chloride and sulfate processes to achieve this. Through its distributors and agents, Kronos sells its products to over 4,000 domestic and international paint, plastics, and paper manufacturers in approximately 100 countries. The company was founded in 1916 and is headquartered in Dallas, TX.
Recent Earnings and Future Estimates
Kronos has exceeded earnings estimates in three of the past four quarters. The company most recently reported first-quarter earnings earlier this month of $57.5 million or $0.50 cents per share, which translated to a 78.57% positive surprise versus the $0.28 cent consensus estimate. This compares quite favorably to the $0.17 per share that Kronos delivered in the same quarter last year.
Net sales rose 21% year-over-year in the first quarter to $562.9 million, which were driven by higher titanium dioxide selling prices and volumes. Kronos has posted a trailing four-quarter average earnings surprise of 24.02%. The company has been consistently beating earnings estimates lately and the stock price is reflecting this.
Looking ahead, earnings estimates for this year as well as 2023 have been skyrocketing. In the past 30 days, fiscal 2022 EPS estimates have been increased by 60.94% to $2.06 per share, which reflects a 110.2% growth rate relative to last year. It's obvious the growth is there and looks set to continue.
Charting the Course
KRO has really started to display true signs of relative strength this year, as it has returned investors north of 30% - widely outperforming the major indices. The price ascent has not slowed down as of late, even as the recent rally has taken a breather.
Notice how both the 50 and 200-day moving averages are sloping up in the chart below, evidenced by the blue and red lines, respectively. The stock does appear extended in the short-term, and bullish investors may consider waiting for a slight pullback before initiating a new purchase.
However, empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. And as we know, Kronos has seen a steady batch of positive revisions as of late. As long as this trend remains intact (and KRO continues to post earnings beats), the stock should continue its bullish move this year.
Other Factors to Consider
Despite the massive price run, KRO currently trades at just a 9.4 forward P/E, which compares favorably to that of its industry group (10.68).
Kronos is currently ranked a Zacks Rank #1 (Strong Buy). The stock is ranked favorably by our Style Score Categories with a 'B' for Value and 'A' for Momentum, paving the way for an overall B VGM score. This indicates that there's a strong likelihood that Kronos momentum will continue on the heels of strong sales and earnings growth. Kronos also pays an annual dividend of $0.76 cents, which translates to a very respectable 4.07% yield.
Bottom Line
With a history of surpassing earnings estimates and an improving future outlook, Kronos represents a great opportunity. It's not difficult to see why this stock is a compelling investment with an attractive dividend yield and strong price momentum.
Solid institutional buying and a high-performing industry group should continue to provide a tailwind for the stock price. Recent positive earnings estimate revisions will help to provide a cushion during any potential market decline. If you're looking for a way to diversify your portfolio, make sure to put KRO on your shortlist.
Bear of the Day:
Yum China, a Zacks Rank #5 (Strong Sell) stock, owns and franchises restaurants in China. The company operates restaurants under recognized brands such as KFC, Pizza Hut, Taco Bell, Little Sheep, and Lavazza. Yum China is running over 12,000 restaurants in approximately 1,700 cities. The company was incorporated in 2016 and is headquartered in Shanghai, China.
The Zacks Rundown
Yum China, which became an independent, publicly-traded company in 2016, has been severely underperforming the market over the past year. YUMC experienced a climax top in June of last year and has been in a price downtrend ever since. The stock has hit a series of 52-week lows this year and represents a compelling short opportunity as the market continues its volatile start to 2022.
YUMC is part of the Zacks Retail – Restaurants industry group, which currently ranks in the bottom 23% out of approximately 250 industries. Because this industry is ranked in the bottom half of all Zacks Ranked Industries, we expect it to underperform the market over the next 3 to 6 months.
Candidates in the bottom half of industry groups can often represent solid potential short candidates. While individual stocks have the ability to outperform even when included in poor-performing industries, their industry association serves as a headwind for any potential rallies. Yum China is fighting an uphill battle and the stock is confirming this notion as it continues to make a series of lower lows.
Recent Earnings and Deteriorating Forecasts
The company reported its first quarter results last month. YUMC posted quarterly EPS of $0.24, missing the Zacks Consensus Estimate of $0.29 by -17.24%. For the current quarter, Zacks is anticipating a significant EPS decline to $-0.01/share, reflecting negative growth of -102.38% year-over-year.
YUMC has missed the mark in terms of earnings estimates in each of the past four quarters. The restaurant operator has posted a trailing four-quarter average earnings miss of -29.33%. When you're missing consensus estimates by that amount over time, you're going to be fighting against the current when it comes to the stock price.
Analysts covering YUMC have decreased their annual earnings estimates recently. For 2022, the current Zacks Consensus Estimate sits at $0.77, down -45% from just 60 days ago. This would represent a negative growth rate of -36.36% relative to fiscal 2021.
Technical Outlook
YUMC stock has been steadily falling since last year and has now established a well-defined downtrend. Notice how 200-day (red line) moving average is sloping down. Shares have declined more than 35% in the past year. The stock continues to trade below the 200-day moving average, which has acted as resistance throughout the price move.
Even with the recent declines, YUMC is still relatively overvalued.
Final Thoughts
Recent earnings misses and an unpredictable equity market don't exactly favor bullish YUMC investors. Our Zacks Style Scores depict a weakening outlook for this stock, as YUMC is rated a second worst-possible 'D' in our Value category and a 'D' for our overall VGM score. A deteriorating fundamental and technical backdrop show that this stock is fighting an uphill battle.
The fact that YUMC is part of one of the worst-performing industry groups simply adds another headwind to a long list of concerns. Potential investors should only think about including this stock in their portfolio as part of a hedge or short strategy. Bulls will want to steer clear of an overvalued YUMC until the situation shows major signs of improvement.
Additional content:
Which of These P&C Insurers Has the Edge?
With another hurricane season already underway, property and casualty insurers are bracing up to weather its impact. The rise in interest rate is indicative of a healthy economy, which along with prudent underwriting, instills confidence for the days ahead.
P&C insurers' profitability is inversely related to catastrophic events. Colorado State University (CSU) expects an active Atlantic hurricane season this year with 19 named storms. These include nine hurricanes and four major hurricanes. This year's hurricane season could be about 130% of average season per CSU.
Improving pricing will help limit the downside. Per Willis Towers Watson's 2022 Insurance Marketplace Realities report, rates will continue to rise but by a small margin. Better pricing will help insurers write higher premiums and address claims payment prudently. Per Deloitte insights, global non-life premiums are estimated to grow 3.7% in 2022. Exposure growth, prudent underwriting, favorable reserve development and sturdy capital level are other tailwinds that should support P&C insurers.
The interest rate environment has started to improve. With two rates hikes already this year and more in the cards, insurers, being the direct beneficiary of an improving rate environment, are poised to benefit.
Accelerated digitalization with the use of technology like blockchain, artificial intelligence, advanced analytics, telematics, cloud computing and robotic process automation expedite business operations and save cost.
Solid policyholders' surplus will help the industry absorb losses. Also, given the solid capital level, insurers are actively pursuing strategic mergers and acquisitions and investing in growth initiatives apart from engaging in share buybacks, increasing dividends or paying out special dividends.
The industry has gained 5.2% year to date against the Finance sector's decrease of 9.6% and the Zacks S&P 500 composite's decline of 15.9%.
Here we focus on two property and casualty insurers, namely The Allstate Corp. and The Travelers Companies, Inc.. Allstate is the third-largest property-casualty (P&C) insurer and the largest publicly-held personal lines carrier in the United States.
Travelers is one of the leading writers of auto and homeowners' insurance plus commercial U.S. property-casualty insurance. Both the companies carry a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Let's now see how these P&C insurers have fared in terms of some of the key metrics.
Price Performance
Travelers has rallied 13.7% year to date compared with the industry's increase of 5.2% and Allstate's decline of 1.5%.
Return on Equity (ROE)
Travelers has a return on equity of 13.8%, which exceeds Allstate's ROE of 12.5% and the industry average of 5.7%.
Valuation
Price-to-book value is the best multiple used for valuing insurers. Compared with Allstate's reading of 1.7, Travelers is cheaper with a reading of 1.65. The P&C insurance industry's P/B ratio is 1.3.
Dividend Yield
Allstate's dividend yield of 2.3% tops Travelers' 2% as well as the industry's average of 0.4%.
Leverage
Travelers's debt-to-equity ratio of 28.6 is lower than the industry average of 23.6 as well as Allstate's reading of 34.5.
Earnings Surprise History
Travelers outpaced expectations in each of the four trailing quarters, delivering an earnings surprise of 31.40%, on average. Allstate surpassed estimates in two of the last four reported quarters, with the average surprise being negative 8.84%.
Growth Projection
The Zacks Consensus Estimate for 2022 earnings indicates a 3.2% decline from the year-ago reported figure for Travelers and 32.2% for Allstate.
The long-term expected earnings growth is pegged at 3.5% for Travelers and 5.4% for Allstate.
Travelers' Growth Score of B is better than a Growth Score of D for Allstate. Growth Score analyzes the growth prospects of a company.
VGM Score
VGM Score rates each stock on their combined weighted styles, helping to identify those with the most attractive value, best growth and most promising momentum. Travelers has an impressive VGM Score of A while Allstate has a VGM Score of B. Travelers thus has an edge in this respect.
To Conclude
Our comparative analysis shows that Travelers has an edge over Allstate with respect to almost all the parameters.
Why Haven't You Looked at Zacks' Top Stocks?
Our 5 best-performing strategies have blown away the S&P's impressive +28.8% gain in 2021. Amazingly, they soared +40.3%, +48.2%, +67.6%, +94.4%, and +95.3%. Today you can access their live picks without cost or obligation.
See Stocks Free >>
Media Contact
Zacks Investment Research
800-767-3771 ext. 9339
https://www.zacks.com
Zacks.com provides investment resources and informs you of these resources, which you may choose to use in making your own investment decisions. Zacks is providing information on this resource to you subject to the Zacks "Terms and Conditions of Service" disclaimer. www.zacks.com/disclaimer.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss.This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performancefor information about the performance numbers displayed in this press release.