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Progressing through this earnings season identifying companies that were able to beat bottom-line expectations and reconfirm a positive outlook may be on many investors’ agendas as inflationary concerns begin to ease.
To that note, here are three top-rated Zacks stocks that fit the bill after posting strong first-quarter results.
We’ll start with a tech stock as InTest Corporation sports a Zacks Rank #1 (Strong Buy) and looks very intriguing following an impressive first-quarter earnings beat last Friday.
InTest is an independent provider of ATE interface solutions and temperature management products used by semiconductor manufacturers to perform final testing of integrated circuits and wafers.
Q1 Review: InTest easily topped its Q1 EPS expectations by 38% at $0.29 per share compared to EPS estimates of $0.21. Even better, earnings soared 141% YoY with EPS at $0.12 in Q1 2022.
Earnings estimate revisions are notably up in the last week following InTest's Q1 report. Trading at $23 a share, InTest’s earnings are now forecasted to jump 15% this year and rise another 3% in FY24 at $1.18 per share.
Among consumer discretionary equities, Cinemark is standing out with a Zacks Rank #2 (Buy) after posting a very reassuring earnings beat last Friday.
As movie theatre operators continue their post-pandemic recovery Cinemark is poised to reemerge as a leader. Cinemark operates over 408 theaters and 4,657 screens in 38 states with international operations that include Mexico, South, and Central America.
Q1 Review: Cinemark’s road back to probability appears to be around the corner as the company’s Q1 earnings came in at -$0.03 per share compared to EPS estimates of -$0.30. This was also a significant climb swing from -$0.62 in Q1 2022.
More importantly, Cinemarks’s annual earnings are now forecasted to be back in the black this year at $0.68 per share, climb swinging from a loss of -$2.26 in 2022. Even better, fiscal 2024 earnings are projected to leap another 71% at $1.17 per share.
Trading at $16 a share, Cinemark’s annual earnings estimates have soared over the last 60 days and could provide a nice catalyst for the stock as the company’s growth trajectory returns.
Lastly, Koppers Holdings is a basic materials stock that may have more upside and sports a Zacks Rank #2 (Buy) after blasting its Q1 earnings expectations last Friday as well.
Koppers is an integrated global provider of treated wood products, wood treatment chemicals, and carbon compounds. Intriguingly, Koppers products are used in a diverse range of end-markets including railroad, specialty chemical, utility, residential lumber, agriculture, and construction industries.
Q1 Review: Koppers crushed Q1 earnings estimates by 47% with EPS at $1.12 compared to expectations of $0.76 per share. First-quarter earnings also jumped 23% YoY with EPS at $0.91 in Q1 2022.
Even better, Koppers earnings are now expected to be up 6% in FY23 and rise another 6% in FY24 at $4.66 per share. Trading at $31 a share Koppers steady growth is starting to warrant more near-tern upside in its stock and longer-term investors may want to take notice as well.
Image Source: Zacks Investment Research
Takeaway
Largely surpassing first-quarter earnings expectations is starting to reconfirm that these companies should have a strong fiscal 2023. With solid bottom-line growth expected there could be a nice amount of upside left in InTest, Cinemark, and Koppers stock.
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3 Stocks to Buy After Impressive Earnings Beats
Progressing through this earnings season identifying companies that were able to beat bottom-line expectations and reconfirm a positive outlook may be on many investors’ agendas as inflationary concerns begin to ease.
To that note, here are three top-rated Zacks stocks that fit the bill after posting strong first-quarter results.
inTest (INTT - Free Report) )
We’ll start with a tech stock as InTest Corporation sports a Zacks Rank #1 (Strong Buy) and looks very intriguing following an impressive first-quarter earnings beat last Friday.
InTest is an independent provider of ATE interface solutions and temperature management products used by semiconductor manufacturers to perform final testing of integrated circuits and wafers.
Q1 Review: InTest easily topped its Q1 EPS expectations by 38% at $0.29 per share compared to EPS estimates of $0.21. Even better, earnings soared 141% YoY with EPS at $0.12 in Q1 2022.
Earnings estimate revisions are notably up in the last week following InTest's Q1 report. Trading at $23 a share, InTest’s earnings are now forecasted to jump 15% this year and rise another 3% in FY24 at $1.18 per share.
Image Source: Zacks Investment Research
Cinemark (CNK - Free Report) )
Among consumer discretionary equities, Cinemark is standing out with a Zacks Rank #2 (Buy) after posting a very reassuring earnings beat last Friday.
As movie theatre operators continue their post-pandemic recovery Cinemark is poised to reemerge as a leader. Cinemark operates over 408 theaters and 4,657 screens in 38 states with international operations that include Mexico, South, and Central America.
Q1 Review: Cinemark’s road back to probability appears to be around the corner as the company’s Q1 earnings came in at -$0.03 per share compared to EPS estimates of -$0.30. This was also a significant climb swing from -$0.62 in Q1 2022.
More importantly, Cinemarks’s annual earnings are now forecasted to be back in the black this year at $0.68 per share, climb swinging from a loss of -$2.26 in 2022. Even better, fiscal 2024 earnings are projected to leap another 71% at $1.17 per share.
Trading at $16 a share, Cinemark’s annual earnings estimates have soared over the last 60 days and could provide a nice catalyst for the stock as the company’s growth trajectory returns.
Image Source: Zacks Investment Research
Koppers (KOP - Free Report) )
Lastly, Koppers Holdings is a basic materials stock that may have more upside and sports a Zacks Rank #2 (Buy) after blasting its Q1 earnings expectations last Friday as well.
Koppers is an integrated global provider of treated wood products, wood treatment chemicals, and carbon compounds. Intriguingly, Koppers products are used in a diverse range of end-markets including railroad, specialty chemical, utility, residential lumber, agriculture, and construction industries.
Q1 Review: Koppers crushed Q1 earnings estimates by 47% with EPS at $1.12 compared to expectations of $0.76 per share. First-quarter earnings also jumped 23% YoY with EPS at $0.91 in Q1 2022.
Even better, Koppers earnings are now expected to be up 6% in FY23 and rise another 6% in FY24 at $4.66 per share. Trading at $31 a share Koppers steady growth is starting to warrant more near-tern upside in its stock and longer-term investors may want to take notice as well.
Image Source: Zacks Investment Research
Takeaway
Largely surpassing first-quarter earnings expectations is starting to reconfirm that these companies should have a strong fiscal 2023. With solid bottom-line growth expected there could be a nice amount of upside left in InTest, Cinemark, and Koppers stock.