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Zacks.com featured highlights include Conagra Brands, Signet Jewelers, CMS Energy and Coherent

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For Immediate Release

Chicago, IL – January 16, 2023 – Stocks in this week’s article are Conagra Brands, Inc. (CAG - Free Report) , Signet Jewelers Ltd. (SIG - Free Report) , CMS Energy Corp. (CMS - Free Report) and Coherent Corp. (COHR - Free Report) .

4 Stocks with Robust Sales Growth for Assured Returns in 2023

As the year 2022 ended on a grim note, it's time for investors to re-assess their portfolio and investment strategy for 2023. While the recent economic data point to some effectiveness of the Federal Reserve's ultra-aggressive monetary tightening, we are still not out of the woods. The central bank is expected to keep interest rates high till inflation comes down reasonably.

This has made investors cautious, as higher rates will likely lead to a recession/economic slowdown in 2023. Therefore, a conventional stock-picking strategy is the need of the hour. One such way is selecting stocks with steady sales growth. In this regard, stocks like Conagra Brands, Inc., Signet Jewelers Ltd., CMS Energy Corp. and Coherent Corp. are worth considering.

While evaluating any company, revenues are often more scrutinized than earnings. This is because investors want to make sure that a business has the capability of generating more sales over time to cater to an expanding customer base. Steady or declining sales growth reflects obstacles at the company. Stagnant companies may generate profit in the near term but do not ensure enough growth to attract new investors.

Without robust revenue growth, bottom-line improvement may not be sustainable. While a company can show earnings strength by lowering costs, continued bottom-line expansion usually requires strong sales growth.

Yet, sales growth alone doesn't show much about a company's prospects. Hence, taking into account a company's cash position along with its sales number can be a practical investment strategy. Substantial cash in hand and a steady cash flow give a company more flexibility with respect to business decisions and potential investments.

Here are four of the 13 stocks that qualified the screening:

Chicago-based Conagra Brands is one of the leading branded food companies in North America. CAG offers premium edible products with a refined focus on innovation.

Conagra Brands' expected sales growth rate for fiscal 2023 is 6.8%. The stock sports a Zacks Rank #1 at present.

Signet Jewelers, based in Hamilton, Bermuda, is a retailer of diamond jewelry, watches and other products. SIG is often considered the leading retailer of diamond jewelry.

Signet Jewelers' expected sales growth rate for fiscal 2024 is 1.4%. The stock currently sports a Zacks Rank #1.

Jackson, MI-based CMS Energy is the holding company of Consumers Energy Company and CMS Enterprises Company. CMS operates largely in three business segments: Consumers electric utility, Consumers gas utility and Enterprises.

CMS Energy's sales are expected to rise 4.6% in 2023. The stock carries a Zacks Rank #2 at present.

Coherent, based in Saxonburg, PA, develops, manufactures and markets engineered materials, optoelectronic components and devices. COHR operates through two segments: Compound Semiconductors and Photonic Solutions.

Coherent's expected sales growth for fiscal 2023 is 63.8%. The company, at present, sports a Zacks Rank #1.

Get the rest of the stocks on the list and start putting this and other ideas to the test. It can all be done with the Research Wizard stock picking and backtesting software.

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For the rest of this Screen of the Week article please visit Zacks.com at: https://www.zacks.com/stock/news/2038922/4-stocks-with-robust-sales-growth-for-assured-returns-in-2023

Disclosure: Officers, directors and/or employees of Zacks Investment Research may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material. An affiliated investment advisory firm may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material.

About Screen of the Week

Zacks.com created the first and best screening system on the web earning the distinction as the "#1 site for screening stocks" by Money Magazine.  But powerful screening tools is just the start. That is why Zacks created the Screen of the Week to highlight profitable stock picking strategies that investors can actively use.

Strong Stocks that Should Be in the News

Many are little publicized and fly under the Wall Street radar. They're virtually unknown to the general public. Yet today's 220 Zacks Rank #1 "Strong Buys" were generated by the stock-picking system that has more than doubled the market from 1988 through 2016. Its average gain has been a stellar +25% per year. See these high-potential stocks free >>.

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