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Don't Overlook These Top-Rated Stocks It's Time to Buy
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Investors are always on the lookout for meaningful investments that won’t break the bank in the process. Fortunately, the prospects are brightening for several affordable stocks that have notable relevance in their respective industries.
Here are three such stocks that currently sport a Zacks Rank #1 (Strong Buy) and now looks like a good time to invest.
With the outlook for many retail restaurant stocks strengthening Arcos Dorado’s stock is starting to look attractive again and offers diversification and exposure to the Latin American economy.
Notably, the Zacks Retail-Restaurant Industry is in the top 9% of over 250 Zacks industries with Arcos operating as a franchisee of McDonald’s throughout Latin America and the Caribbean.
Solid bottom-line growth is expected with earnings estimates slightly up over the last 30 days. Arcos fiscal 2023 earnings are expected to rise 4% and jump another 13% in FY24 at $0.82 per share. More intriguing, at $10 a share Arcos stock trades at 14.9X forward earnings which is a considerable discount to the industry average of 26.9X and nicely beneath the S&P 500’s 20.8X.
As most countries continue to make the push into alternative energy, Atlantica Sustainable Infrastructure stock is attractive right now.
Based in the U.K. Atlantica provides renewable energy with the company owning and operating natural gas fields along with offering transmission, transportation infrastructures, and water asset solutions.
The trend in earnings estimate revisions is very compelling and indicates there could be more upside for Atlantica stock which trades at $23 a share. Intriguingly, over the last 60 days fiscal 2023 and FY24 earnings estimates have skyrocketed 106% and 26% respectively.
Annual earnings are now forecasted at $0.33 per share this year, climb swinging from an adjusted loss of -$0.05 a share in 2022. Plus, fiscal 2024 earnings are forecasted to soar another 75% at $0.57 per share with Atlantica looking more and more poised for continued profitability.
The time to buy Lyft stock looks upon us with shares starting to bounce nicely off their 52-week lows of $7.85 per share in May. The popular ride-hailing company has lagged behind its primary competitor Uber’s (UBER - Free Report) ) stock performance but better days may be ahead.
With Lyft stock trading at $11, earnings are expected to be in the black at $0.18 per share this year compared to an adjusted EPS loss of -$1.50 in 2022. Even better, fiscal 2024 earnings are anticipated to leap another 193% at $0.53 per share.
It’s noteworthy that Lyft’s projected road to profitability is more stable than Uber which stock trades much higher at $44 and is expected to have earnings of $0.05 per share this year.
Image Source: Zacks Investment Research
Bottom Line
Arcos Dorados, Atlantica Sustainable Infrastructure, and Lyft are very relevant companies in their respective industries and have the potential to be valuable investments. Now appears to be an ideal time to buy as their stocks could move higher as we progress through 2023.
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Don't Overlook These Top-Rated Stocks It's Time to Buy
Investors are always on the lookout for meaningful investments that won’t break the bank in the process. Fortunately, the prospects are brightening for several affordable stocks that have notable relevance in their respective industries.
Here are three such stocks that currently sport a Zacks Rank #1 (Strong Buy) and now looks like a good time to invest.
Arcos Dorados (ARCO - Free Report) )
With the outlook for many retail restaurant stocks strengthening Arcos Dorado’s stock is starting to look attractive again and offers diversification and exposure to the Latin American economy.
Notably, the Zacks Retail-Restaurant Industry is in the top 9% of over 250 Zacks industries with Arcos operating as a franchisee of McDonald’s throughout Latin America and the Caribbean.
Solid bottom-line growth is expected with earnings estimates slightly up over the last 30 days. Arcos fiscal 2023 earnings are expected to rise 4% and jump another 13% in FY24 at $0.82 per share. More intriguing, at $10 a share Arcos stock trades at 14.9X forward earnings which is a considerable discount to the industry average of 26.9X and nicely beneath the S&P 500’s 20.8X.
Image Source: Zacks Investment Research
Atlantica Sustainable Infrastructure (AY - Free Report) )
As most countries continue to make the push into alternative energy, Atlantica Sustainable Infrastructure stock is attractive right now.
Based in the U.K. Atlantica provides renewable energy with the company owning and operating natural gas fields along with offering transmission, transportation infrastructures, and water asset solutions.
The trend in earnings estimate revisions is very compelling and indicates there could be more upside for Atlantica stock which trades at $23 a share. Intriguingly, over the last 60 days fiscal 2023 and FY24 earnings estimates have skyrocketed 106% and 26% respectively.
Annual earnings are now forecasted at $0.33 per share this year, climb swinging from an adjusted loss of -$0.05 a share in 2022. Plus, fiscal 2024 earnings are forecasted to soar another 75% at $0.57 per share with Atlantica looking more and more poised for continued profitability.
Image Source: Zacks Investment Research
Lyft (LYFT - Free Report) )
The time to buy Lyft stock looks upon us with shares starting to bounce nicely off their 52-week lows of $7.85 per share in May. The popular ride-hailing company has lagged behind its primary competitor Uber’s (UBER - Free Report) ) stock performance but better days may be ahead.
With Lyft stock trading at $11, earnings are expected to be in the black at $0.18 per share this year compared to an adjusted EPS loss of -$1.50 in 2022. Even better, fiscal 2024 earnings are anticipated to leap another 193% at $0.53 per share.
It’s noteworthy that Lyft’s projected road to profitability is more stable than Uber which stock trades much higher at $44 and is expected to have earnings of $0.05 per share this year.
Image Source: Zacks Investment Research
Bottom Line
Arcos Dorados, Atlantica Sustainable Infrastructure, and Lyft are very relevant companies in their respective industries and have the potential to be valuable investments. Now appears to be an ideal time to buy as their stocks could move higher as we progress through 2023.