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The earnings season is well into the business end with over 600 companies reporting next week. The 219 S&P 500 companies that have reported results till Feb 1, more or less confirm that overall fourth-quarter results are likely to be the best in about two years.
Total earnings for these 219 companies (accounting for 58.8% of the index’s total market capitalization) are up 5.4% on 3.5% higher revenues, with 64.8% beating earnings estimates and 53.4% surpassing top-line expectations. Based on the hitherto observed pattern, the fourth quarter is anticipated to register high single-digit percentage growth on a year-over-year basis.
Per the latest Earnings Outlook, overall fourth quarter earnings for all the S&P 500 companies are expected to be up 6.0% on a 3.9% growth in revenues. This represents a healthy improvement from third quarter that ended the earnings recession of five consecutive quarters for the benchmark index. The relative improvement in the quarterly performance is largely due to a turnaround in the economy, improved job market and rising oil prices. Experts widely believe that earnings growth is likely to be in double digits in 2017 and beyond.
For the fourth quarter as a whole, about four of the 16 Zacks sectors are expected to witness an earnings decline, with Autos, Conglomerates and Transportation being the biggest drag.
The Industrial Product sector is looking reasonably good. For the sector, earnings are expected to grow 2% year over year, while sales are touted to rise 4.1% driven by higher capital investment in the infrastructure market.
Let’s have a sneak peek at three major Industrial Product stocks to see how things are shaping up for the upcoming quarterly results.
Regal Beloit Corporation (RBC - Free Report) is scheduled to report earnings after the closing bell on Feb 6. The company expects its sales to be affected by the fragilities in the oil & gas sector and the overall industrial end markets. Regal Beloit also trimmed its guidance for full-year 2016. The company intends to focus on simplification initiatives to lower operating costs and improve margins in the future. For the impending quarter, the company has an Earnings ESP of 0.00%, and Zacks Rank #4 (Sell), making an earnings surprise prediction uncertain. A stock needs to have both a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), #2 (Buy) or #3 (Hold) for a likely earnings beat.You can see the complete list of today’s Zacks #1 Rank stocks here.
SiteOne Landscape Supply, Inc. (SITE - Free Report) , is expected to release fourth quarter results around Feb 6. Headquartered in Roswell, GA, is a wholesale distributor of landscape supplies primarily in the U.S. Over the trailing four quarters, the company missed estimates thrice by a large margin, with an average negative surprise of 347.07%. We cannot conclusive predict an earnings beat this quarter as the company has an ESP of 0.00% and a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
SiteOne Landscape Supply, Inc. Price and EPS Surprise
Manitowoc Foodservice, Inc. is scheduled to report earnings before the opening bell on Feb 6. Headquartered in New Port Richey, FA, the company designs, manufactures and services commercial foodservice equipment worldwide. Manitowoc is likely to benefit from its Simplification and Right-Sizing initiatives. However, ongoing softness in the QSR market in North America and the impact of Brexit on foreign currency translation remain headwinds. We remain inconclusive on earnings beat prediction this quarter as the company has an ESP of 0.00% and a Zacks Rank #3.
Manitowoc Food Service, Inc. Price and EPS Surprise
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3 Industrial Stocks' Q4 Earnings Preview: RBC, SITE, MFS
The earnings season is well into the business end with over 600 companies reporting next week. The 219 S&P 500 companies that have reported results till Feb 1, more or less confirm that overall fourth-quarter results are likely to be the best in about two years.
Total earnings for these 219 companies (accounting for 58.8% of the index’s total market capitalization) are up 5.4% on 3.5% higher revenues, with 64.8% beating earnings estimates and 53.4% surpassing top-line expectations. Based on the hitherto observed pattern, the fourth quarter is anticipated to register high single-digit percentage growth on a year-over-year basis.
Per the latest Earnings Outlook, overall fourth quarter earnings for all the S&P 500 companies are expected to be up 6.0% on a 3.9% growth in revenues. This represents a healthy improvement from third quarter that ended the earnings recession of five consecutive quarters for the benchmark index. The relative improvement in the quarterly performance is largely due to a turnaround in the economy, improved job market and rising oil prices. Experts widely believe that earnings growth is likely to be in double digits in 2017 and beyond.
For the fourth quarter as a whole, about four of the 16 Zacks sectors are expected to witness an earnings decline, with Autos, Conglomerates and Transportation being the biggest drag.
The Industrial Product sector is looking reasonably good. For the sector, earnings are expected to grow 2% year over year, while sales are touted to rise 4.1% driven by higher capital investment in the infrastructure market.
Let’s have a sneak peek at three major Industrial Product stocks to see how things are shaping up for the upcoming quarterly results.
Regal Beloit Corporation (RBC - Free Report) is scheduled to report earnings after the closing bell on Feb 6. The company expects its sales to be affected by the fragilities in the oil & gas sector and the overall industrial end markets. Regal Beloit also trimmed its guidance for full-year 2016. The company intends to focus on simplification initiatives to lower operating costs and improve margins in the future. For the impending quarter, the company has an Earnings ESP of 0.00%, and Zacks Rank #4 (Sell), making an earnings surprise prediction uncertain. A stock needs to have both a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), #2 (Buy) or #3 (Hold) for a likely earnings beat.You can see the complete list of today’s Zacks #1 Rank stocks here.
Regal Beloit Corporation Price and EPS Surprise
Regal Beloit Corporation Price and EPS Surprise | Regal Beloit Corporation Quote
SiteOne Landscape Supply, Inc. (SITE - Free Report) , is expected to release fourth quarter results around Feb 6. Headquartered in Roswell, GA, is a wholesale distributor of landscape supplies primarily in the U.S. Over the trailing four quarters, the company missed estimates thrice by a large margin, with an average negative surprise of 347.07%. We cannot conclusive predict an earnings beat this quarter as the company has an ESP of 0.00% and a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
SiteOne Landscape Supply, Inc. Price and EPS Surprise
SiteOne Landscape Supply, Inc. Price and EPS Surprise | SiteOne Landscape Supply, Inc. Quote
Manitowoc Foodservice, Inc. is scheduled to report earnings before the opening bell on Feb 6. Headquartered in New Port Richey, FA, the company designs, manufactures and services commercial foodservice equipment worldwide. Manitowoc is likely to benefit from its Simplification and Right-Sizing initiatives. However, ongoing softness in the QSR market in North America and the impact of Brexit on foreign currency translation remain headwinds. We remain inconclusive on earnings beat prediction this quarter as the company has an ESP of 0.00% and a Zacks Rank #3.
Manitowoc Food Service, Inc. Price and EPS Surprise
Manitowoc Food Service, Inc. Price and EPS Surprise | Manitowoc Food Service, Inc. Quote
Now See Our Private Investment Ideas
While the above ideas are being shared with the public, other trades are hidden from everyone but selected members. Would you like to peek behind the curtain and view them? Starting today, for the next month, you can follow all Zacks' private buys and sells in real time from value to momentum . . . from stocks under $10 to ETF and option moves . . . from insider trades to companies that are about to report positive earnings surprises (we've called them with 80%+ accuracy). You can even look inside portfolios so exclusive that they are normally closed to new investors. Click here for Zacks' secret trades >>