It’s another extremely busy earnings week with over 1,000 companies expected to report second quarter results. With that many companies reporting, including several of the “Magnificent 7” companies, how can investors keep track of everything as the reports roll in?
Investors may want to focus on just a handful of stocks this week. Tracey pulled out 5 earnings charts that should be at the top of your list this week. They are in different industries, including restaurants, tech, retail and beauty, but are all well-known companies. No one will be surprised at the 5 companies.
Several have had big rallies in 2023. Will a beat provide another catalyst for their shares to move even higher?
This Week’s Must-See Earnings Charts
1. Starbucks Corp. (SBUX - Free Report) has beat 3 out of the last 4 quarters. But even great comparable sales last quarter didn’t do much to push up Starbucks’ stock. Shares of Starbucks have only risen 2.3% year-to-date. The S&P 500 is up 19.3% in the same period. Starbucks isn’t cheap though. It’s trading with a forward P/E of 29. Will Starbucks break out on this earnings report?
2. e.l.f. Beauty, Inc. (ELF - Free Report) has a tremendous earnings surprise record. e.l.f. Beauty has only missed once since 2019 and it was in 2021. Shares of e.l.f. Beauty have been on a huge run, gaining 111% year-to-date. e.l.f. Beauty isn’t cheap. It trades at 63x. Is e.l.f. Beauty too hot to handle?
3. Wingstop Inc. (WING - Free Report) has beat on earnings 4 quarters in a row. But shares of Wingstop are off their 2023 highs, falling 15.8% in the last month. Shares of Wingstop have gotten expensive in 2023, with a forward P/E of 76.2. Should investors be waiting on the sidelines for a further pullback in Wingstop?
4. Shopify Inc. (SHOP - Free Report) has beat on earnings the last 2 quarters after missing the prior 2 quarters. Shares of Shopify are up 93.6% year-to-date. It’s not cheap, with a forward P/E of 208. But when has it ever been? Will Shopify beat for the 3rd quarter in a row this week?
5. Boot Barn Holdings, Inc. (BOOT - Free Report) has a tremendous earnings surprise track record, with only one earnings miss in the last 5 years. And that includes during the pandemic. Shares of Boot Barn have rallied this year, gaining 50.4%. It remains cheaper than many other stocks, with a forward P/E of 19. Will Boot Barn beat again?
[In full disclosure, Tracey owns shares of SBUX in her personal portfolio.]
Infrastructure Stock Boom to Sweep America
A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made.
The only question is “Will you get into the right stocks early when their growth potential is greatest?”
Zacks has released a Special Report to help you do just that, and today it’s free. Discover 5 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.
Download FREE: How To Profit From Trillions On Spending For Infrastructure >>
It’s another extremely busy earnings week with over 1,000 companies expected to report second quarter results. With that many companies reporting, including several of the “Magnificent 7” companies, how can investors keep track of everything as the reports roll in?
Investors may want to focus on just a handful of stocks this week. Tracey pulled out 5 earnings charts that should be at the top of your list this week. They are in different industries, including restaurants, tech, retail and beauty, but are all well-known companies. No one will be surprised at the 5 companies.
Several have had big rallies in 2023. Will a beat provide another catalyst for their shares to move even higher?
This Week’s Must-See Earnings Charts
1. Starbucks Corp. (SBUX - Free Report) has beat 3 out of the last 4 quarters. But even great comparable sales last quarter didn’t do much to push up Starbucks’ stock. Shares of Starbucks have only risen 2.3% year-to-date. The S&P 500 is up 19.3% in the same period. Starbucks isn’t cheap though. It’s trading with a forward P/E of 29. Will Starbucks break out on this earnings report?
2. e.l.f. Beauty, Inc. (ELF - Free Report) has a tremendous earnings surprise record. e.l.f. Beauty has only missed once since 2019 and it was in 2021. Shares of e.l.f. Beauty have been on a huge run, gaining 111% year-to-date. e.l.f. Beauty isn’t cheap. It trades at 63x. Is e.l.f. Beauty too hot to handle?
3. Wingstop Inc. (WING - Free Report) has beat on earnings 4 quarters in a row. But shares of Wingstop are off their 2023 highs, falling 15.8% in the last month. Shares of Wingstop have gotten expensive in 2023, with a forward P/E of 76.2. Should investors be waiting on the sidelines for a further pullback in Wingstop?
4. Shopify Inc. (SHOP - Free Report) has beat on earnings the last 2 quarters after missing the prior 2 quarters. Shares of Shopify are up 93.6% year-to-date. It’s not cheap, with a forward P/E of 208. But when has it ever been? Will Shopify beat for the 3rd quarter in a row this week?
5. Boot Barn Holdings, Inc. (BOOT - Free Report) has a tremendous earnings surprise track record, with only one earnings miss in the last 5 years. And that includes during the pandemic. Shares of Boot Barn have rallied this year, gaining 50.4%. It remains cheaper than many other stocks, with a forward P/E of 19. Will Boot Barn beat again?
[In full disclosure, Tracey owns shares of SBUX in her personal portfolio.]
Infrastructure Stock Boom to Sweep America
A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made.
The only question is “Will you get into the right stocks early when their growth potential is greatest?”
Zacks has released a Special Report to help you do just that, and today it’s free. Discover 5 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.
Download FREE: How To Profit From Trillions On Spending For Infrastructure >>
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