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Time to Buy These Highly-Ranked Stocks After Earnings
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Several stocks from a variety of different sectors are standing out after beating first-quarter earnings expectations last Thursday.
To that point, here are three of these stocks that currently sport a Zacks Rank #1 (Strong Buy) and now appears to be a good time to add positions on a strengthening outlook.
Circor International )
Starting out is Circor International, an industrial products stock that belongs to the top-rated Metal Products-Procurement Fabrication Industry which is in the top 7% of over 250 Zacks industries.
Circor is benefiting from its strong industry as a provider of flow control systems and other highly engineered products and sub-systems for markets including oil & gas, aerospace, power, process and industrial solutions.
Q1 Review: Circor crushed its Q1 EPS expectations by 341% and topped Q1 sales estimates by 7%. First-quarter earnings came in at $0.53 per share compared to EPS estimates of $0.12. More Impressive, earnings soared 960% YoY with EPS at $0.05 in the prior-year quarter.
Image Source: Zacks Investment Research
Earnings estimate revisions have remained much higher over the last quarter and the strong Q1 results could propel them and CIR stock. Trading at $30 a share, Circor’s earnings are now forecasted to dip -10% this year but rebound and climb 30% in FY24 at $2.15 per share.
Image Source: Zacks Investment Research
PGT Innovations )
Among the Zacks Construction sector, PGT Innovations is standing out with its Building Products-Miscellaneous Industry in the top 21% of all Zacks industries.
PGT stands to benefit as a pioneer in the broader U.S. impact-resistant window and door industry and is currently one of the largest window and door manufacturers in the country.
Q1 Review: PGT topped its first-quarter earnings expectations despite a slight miss on the top line. Still, Q1 EPS of $0.56 impressively topped estimates of $0.44 per share by 27%. This was also a 33% leap from Q1 2022 earnings of $0.42 per share.
Image Source: Zacks Investment Research
Trading at $25 a share, PGT’s annual earnings are expected to dip -8% in fiscal 2023 but stabalize and jump 16% in FY24 at $2.05 per share. Earnings estimate revisions had trended higher again over the last 60 days and the trend may continue with PGT easily exceeding Q1 bottom line expectations.
Lastly, a tech stock that stands out after reporting its Q1 results last Thursday is Nova Measuring Instruments. Although inflationary concerns persist in the broader operating environment for many semiconductor stocks, Nova has a unique niche in the space.
Nova is a provider of metrology solutions for advanced process control used in semiconductor manufacturing and shares of NVMI are seeing nice momentum after beating top and bottom-line expectations.
Q1 Review: Nova beat Q1 earnings estimates by 18% with EPS at $1.23 compared to estimates of $1.04 per share. First-quarter earnings dipped -5% from a year ago with Q1 2022 being a hard-to-follow prior-year quarter. Nova did manage to also top Q1 sales estimates by 1%.
Image Source: Zacks Investment Research
Plus, earnings estimates have already trended higher in the last week for FY23 and FY24. Trading at $96 a share, Nova’s fiscal 2023 earnings are now forecasted to drop -20% at $4.04 per share after a tough-to-compete-against year that saw EPS at $5.07 in 2022. However, FY24 earnings are forecasted to rebound and soar 24% at $5.02 per share.
Image Source: Zacks Investment Research
Takeaway
As we strive to push past inflationary concerns, the outlook and stabilization of most companies is at focus. In this regard, Circor International, PGT Innovations, and Nova Measuring Instruments stock look intriguing at the moment and are solid options to invest in their respective sectors and industries.
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Time to Buy These Highly-Ranked Stocks After Earnings
Several stocks from a variety of different sectors are standing out after beating first-quarter earnings expectations last Thursday.
To that point, here are three of these stocks that currently sport a Zacks Rank #1 (Strong Buy) and now appears to be a good time to add positions on a strengthening outlook.
Circor International )
Starting out is Circor International, an industrial products stock that belongs to the top-rated Metal Products-Procurement Fabrication Industry which is in the top 7% of over 250 Zacks industries.
Circor is benefiting from its strong industry as a provider of flow control systems and other highly engineered products and sub-systems for markets including oil & gas, aerospace, power, process and industrial solutions.
Q1 Review: Circor crushed its Q1 EPS expectations by 341% and topped Q1 sales estimates by 7%. First-quarter earnings came in at $0.53 per share compared to EPS estimates of $0.12. More Impressive, earnings soared 960% YoY with EPS at $0.05 in the prior-year quarter.
Image Source: Zacks Investment Research
Earnings estimate revisions have remained much higher over the last quarter and the strong Q1 results could propel them and CIR stock. Trading at $30 a share, Circor’s earnings are now forecasted to dip -10% this year but rebound and climb 30% in FY24 at $2.15 per share.
Image Source: Zacks Investment Research
PGT Innovations )
Among the Zacks Construction sector, PGT Innovations is standing out with its Building Products-Miscellaneous Industry in the top 21% of all Zacks industries.
PGT stands to benefit as a pioneer in the broader U.S. impact-resistant window and door industry and is currently one of the largest window and door manufacturers in the country.
Q1 Review: PGT topped its first-quarter earnings expectations despite a slight miss on the top line. Still, Q1 EPS of $0.56 impressively topped estimates of $0.44 per share by 27%. This was also a 33% leap from Q1 2022 earnings of $0.42 per share.
Image Source: Zacks Investment Research
Trading at $25 a share, PGT’s annual earnings are expected to dip -8% in fiscal 2023 but stabalize and jump 16% in FY24 at $2.05 per share. Earnings estimate revisions had trended higher again over the last 60 days and the trend may continue with PGT easily exceeding Q1 bottom line expectations.
Image Source: Zacks Investment Research
Nova Measuring Instruments (NVMI - Free Report) )
Lastly, a tech stock that stands out after reporting its Q1 results last Thursday is Nova Measuring Instruments. Although inflationary concerns persist in the broader operating environment for many semiconductor stocks, Nova has a unique niche in the space.
Nova is a provider of metrology solutions for advanced process control used in semiconductor manufacturing and shares of NVMI are seeing nice momentum after beating top and bottom-line expectations.
Q1 Review: Nova beat Q1 earnings estimates by 18% with EPS at $1.23 compared to estimates of $1.04 per share. First-quarter earnings dipped -5% from a year ago with Q1 2022 being a hard-to-follow prior-year quarter. Nova did manage to also top Q1 sales estimates by 1%.
Image Source: Zacks Investment Research
Plus, earnings estimates have already trended higher in the last week for FY23 and FY24. Trading at $96 a share, Nova’s fiscal 2023 earnings are now forecasted to drop -20% at $4.04 per share after a tough-to-compete-against year that saw EPS at $5.07 in 2022. However, FY24 earnings are forecasted to rebound and soar 24% at $5.02 per share.
Image Source: Zacks Investment Research
Takeaway
As we strive to push past inflationary concerns, the outlook and stabilization of most companies is at focus. In this regard, Circor International, PGT Innovations, and Nova Measuring Instruments stock look intriguing at the moment and are solid options to invest in their respective sectors and industries.