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.
The Zacks Analyst Blog Highlights: Cornerstone Building Brands, Amkor Technology, Enova International, TRI Pointe Group and James River Group
Read MoreHide Full Article
For Immediate Release
Chicago, IL – March 23, 2020 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Cornerstone Building Brands, Inc. , Amkor Technology, Inc. (AMKR - Free Report) , Enova International, Inc. (ENVA - Free Report) , TRI Pointe Group, Inc. (TPH - Free Report) and James River Group Holdings, Ltd. (JRVR - Free Report) .
Here are highlights from Friday’s Analyst Blog:
Wall Street Buoyed by Stimulus Package: 5 Stocks
Stocks recently tumbled more than 20% and are now in the bear market. Meanwhile, investors are fretting over the coronavirus pandemic and its subsequently impact on corporate earnings and global economic growth. The pandemic will certainly mean prolonged lockdown in several nations, which might lead to defaults by not only big companies but also small business houses that grapple to survive a revenue slump.
But as investors try to make sense of the coronavirus-led business slowdown, the White House and Fed’s massive stimulus measures to help the economy deal with the crisis improved investors’ confidence, at least to some extent. And that’s certainly got reflected in the latest stock market movements. Most of the major U.S. indexes have started to gain modestly, recovering some of the recent losses.
U.S. Treasury Secretary Steven Mnuchin had said that the government is working on approving a $1-trillion relief plan that will directly benefit American consumers and especially small business houses. Further, the Trump administration is planning to allow Americans defer tax payments to $1 million for 90 days.
Such stimulus package will be the biggest since the 2008 financial crisis, and it will include a $50-billion relief for the struggling U.S. airline industry, which has taken a serious beating due to travel restrictions and cancellations.
In addition, the Fed has now declared a special lending program that will help the flow of credit to households and businesses. These loans will be backed by $10 billion from the U.S. Treasury. Mnuchin, in fact, said that “the economic disruption and uncertainty created by COVID-19 has created challenges for the commercial paper market, constraining access to short-term credit for American businesses. Thus, by providing short-term credit, the [lending program] will help American businesses manage their finances through this challenging period.”
The Fed, by the way, has already trimmed borrowing costs and pumped billions of dollars into the banking system to sustain the credit flow. Policy makers unanimously agreed to trim benchmark federal funds rate a full percentage point to a range of zero to 0.25%. Earlier this month, in a rare inter-meeting move, the Fed trimmed its benchmark interest rate by half a percentage point to a range of 1-1.25%.
But it’s not just the Fed. Investors also reacted positively to new measures from both the ECB and Bank of England, while Norway’s central bank slashed its primary interest rate by 75 basis points. The ECB unveiled a massive bond buying program which is intended to counter the serious threat to the Eurozone economy as investors raise doubts about Italy’s creditworthiness. In order to pump cash into the financial markets rattled by the pandemic, the ECB will buy nearly $820 billion in government and corporate bonds as well as other assets. Bank of England, in the meantime, announced that it will trim benchmark interest rate to 0.1% and will buy more government and corporate bonds.
5 Best Stocks to Buy on Stimulus Measures
As markets recovered some recent losses after investors hoped that the current government and central bank measures will shield the global economy against the coronavirus-induced recession, investing in some stocks that are fundamentally sound enough to rake in gains in the near term seems prudent. These stocks flaunt a Zacks Rank #1 (Strong Buy) and a VGM Score of A. Here V stands for Value, G for Growth and M for Momentum and the score is a weighted combination of these three metrics. Such a score allows you to eliminate the negative aspects of stocks and select winners. You can see the complete list of today’s Zacks #1 Rank stocks here.
Cornerstone Building Brands, Inc. designs, engineers, manufactures, and markets external building products. The Zacks Consensus Estimate for its current-year earnings has moved up 3.6% over the past 60 days. The company’s expected earnings growth rate for the current quarter and year is 21.4% and 46.2%, respectively.
Amkor Technology, Inc. provides outsourced semiconductor packaging and test services. The Zacks Consensus Estimate for its current-year earnings has moved up 25% over the past 60 days. The company’s expected earnings growth rate for the current quarter and year is 550% and 78.6%, respectively.
Enova International, Inc. provides online financial services. The Zacks Consensus Estimate for its current-year earnings has moved up 7.9% over the past 60 days. The company’s expected earnings growth rate for the current quarter and year is 21.6% and 13.7%, respectively.
TRI Pointe Group, Inc. engages in the design, construction, and sale of single-family detached and attached homes. The Zacks Consensus Estimate for its current-year earnings has moved up 6.8% over the past 60 days. The company’s expected earnings growth rate for the next quarter and current year is 88.9% and 6.8%, respectively.
James River Group Holdings, Ltd. provides specialty insurance and reinsurance services. The Zacks Consensus Estimate for its current-year earnings has moved 2.5% north over the past 60 days. The company’s expected earnings growth rate for the current year is 46.4%.
Today's Best Stocks from Zacks
Would you like to see the updated picks from our best market-beating strategies? From 2017 through 2019, while the S&P 500 gained and impressive +53.6%, five of our strategies returned +65.8%, +97.1%, +118.0%, +175.7% and even +186.7%.
This outperformance has not just been a recent phenomenon. From 2000 – 2019, while the S&P averaged +6.0% per year, our top strategies averaged up to +54.7% per year.
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 http://www.zacks.com/performance for 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
The Zacks Analyst Blog Highlights: Cornerstone Building Brands, Amkor Technology, Enova International, TRI Pointe Group and James River Group
For Immediate Release
Chicago, IL – March 23, 2020 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Cornerstone Building Brands, Inc. , Amkor Technology, Inc. (AMKR - Free Report) , Enova International, Inc. (ENVA - Free Report) , TRI Pointe Group, Inc. (TPH - Free Report) and James River Group Holdings, Ltd. (JRVR - Free Report) .
Here are highlights from Friday’s Analyst Blog:
Wall Street Buoyed by Stimulus Package: 5 Stocks
Stocks recently tumbled more than 20% and are now in the bear market. Meanwhile, investors are fretting over the coronavirus pandemic and its subsequently impact on corporate earnings and global economic growth. The pandemic will certainly mean prolonged lockdown in several nations, which might lead to defaults by not only big companies but also small business houses that grapple to survive a revenue slump.
But as investors try to make sense of the coronavirus-led business slowdown, the White House and Fed’s massive stimulus measures to help the economy deal with the crisis improved investors’ confidence, at least to some extent. And that’s certainly got reflected in the latest stock market movements. Most of the major U.S. indexes have started to gain modestly, recovering some of the recent losses.
U.S. Treasury Secretary Steven Mnuchin had said that the government is working on approving a $1-trillion relief plan that will directly benefit American consumers and especially small business houses. Further, the Trump administration is planning to allow Americans defer tax payments to $1 million for 90 days.
Such stimulus package will be the biggest since the 2008 financial crisis, and it will include a $50-billion relief for the struggling U.S. airline industry, which has taken a serious beating due to travel restrictions and cancellations.
In addition, the Fed has now declared a special lending program that will help the flow of credit to households and businesses. These loans will be backed by $10 billion from the U.S. Treasury. Mnuchin, in fact, said that “the economic disruption and uncertainty created by COVID-19 has created challenges for the commercial paper market, constraining access to short-term credit for American businesses. Thus, by providing short-term credit, the [lending program] will help American businesses manage their finances through this challenging period.”
The Fed, by the way, has already trimmed borrowing costs and pumped billions of dollars into the banking system to sustain the credit flow. Policy makers unanimously agreed to trim benchmark federal funds rate a full percentage point to a range of zero to 0.25%. Earlier this month, in a rare inter-meeting move, the Fed trimmed its benchmark interest rate by half a percentage point to a range of 1-1.25%.
But it’s not just the Fed. Investors also reacted positively to new measures from both the ECB and Bank of England, while Norway’s central bank slashed its primary interest rate by 75 basis points. The ECB unveiled a massive bond buying program which is intended to counter the serious threat to the Eurozone economy as investors raise doubts about Italy’s creditworthiness. In order to pump cash into the financial markets rattled by the pandemic, the ECB will buy nearly $820 billion in government and corporate bonds as well as other assets. Bank of England, in the meantime, announced that it will trim benchmark interest rate to 0.1% and will buy more government and corporate bonds.
5 Best Stocks to Buy on Stimulus Measures
As markets recovered some recent losses after investors hoped that the current government and central bank measures will shield the global economy against the coronavirus-induced recession, investing in some stocks that are fundamentally sound enough to rake in gains in the near term seems prudent. These stocks flaunt a Zacks Rank #1 (Strong Buy) and a VGM Score of A. Here V stands for Value, G for Growth and M for Momentum and the score is a weighted combination of these three metrics. Such a score allows you to eliminate the negative aspects of stocks and select winners. You can see the complete list of today’s Zacks #1 Rank stocks here.
Cornerstone Building Brands, Inc. designs, engineers, manufactures, and markets external building products. The Zacks Consensus Estimate for its current-year earnings has moved up 3.6% over the past 60 days. The company’s expected earnings growth rate for the current quarter and year is 21.4% and 46.2%, respectively.
Amkor Technology, Inc. provides outsourced semiconductor packaging and test services. The Zacks Consensus Estimate for its current-year earnings has moved up 25% over the past 60 days. The company’s expected earnings growth rate for the current quarter and year is 550% and 78.6%, respectively.
Enova International, Inc. provides online financial services. The Zacks Consensus Estimate for its current-year earnings has moved up 7.9% over the past 60 days. The company’s expected earnings growth rate for the current quarter and year is 21.6% and 13.7%, respectively.
TRI Pointe Group, Inc. engages in the design, construction, and sale of single-family detached and attached homes. The Zacks Consensus Estimate for its current-year earnings has moved up 6.8% over the past 60 days. The company’s expected earnings growth rate for the next quarter and current year is 88.9% and 6.8%, respectively.
James River Group Holdings, Ltd. provides specialty insurance and reinsurance services. The Zacks Consensus Estimate for its current-year earnings has moved 2.5% north over the past 60 days. The company’s expected earnings growth rate for the current year is 46.4%.
Today's Best Stocks from Zacks
Would you like to see the updated picks from our best market-beating strategies? From 2017 through 2019, while the S&P 500 gained and impressive +53.6%, five of our strategies returned +65.8%, +97.1%, +118.0%, +175.7% and even +186.7%.
This outperformance has not just been a recent phenomenon. From 2000 – 2019, while the S&P averaged +6.0% per year, our top strategies averaged up to +54.7% per year.
See their latest picks free >>
Media Contact
Zacks Investment Research
800-767-3771 ext. 9339
support@zacks.com
http://www.zacks.com
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 http://www.zacks.com/performance for information about the performance numbers displayed in this press release.