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3 Intriguing Stocks to Buy After Earnings

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Quarterly results from Netflix (NFLX - Free Report) ) and Tesla ((TSLA - Free Report) ) highlighted this week’s busy earnings lineup but quite a few lesser-known names would end up providing eye-catching earnings reports.

Here is a short list of three companies that are standing out after blowing past earnings expectations and making their stocks worthy of investors' consideration at the moment.

PACCAR (PCAR - Free Report)

While Tesla slightly missed its fourth quarter top and bottom line expectations and provided weaker sales guidance, Paccar is an auto company that shined this week. The heavy-duty truck manufacturer posted Q4 earnings of $2.70 per share on Tuesday which topped the Zacks Consensus of $2.20 a share by 23%. Notably, quarterly sales of $8.59 billion topped estimates by 5%.

The strong Q4 results helped Paccar round out a record year for annual revenue at $35.13 billion and net income of $5.05 billion or $9.61 per share. Paccar has now surpassed earnings expectations for nine consecutive quarters and currently sports a Zacks Rank #1 (Strong Buy) with an overall “A” VGM Zacks Style Scores grade for the combination of Value, Growth, and Momentum.

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Stride (LRN - Free Report)

Also sporting a Zacks Rank #1 (Strong Buy), premiere education services company Stride continues to impress as a provider of virtual and blended learning. Stride offers curriculums and programs from K-12 and to adults seeking workforce skills as well.  

Reporting its fiscal second quarter results on Tuesday, Stride's Q2 EPS of $1.54 beat estimates by 15% and spiked 19% from $1.19 a share in the prior-year quarter. Second-quarter sales of $504.87 million slightly topped estimates of $503.79 million and rose 10% year over year. Stride has now beaten earnings expectations for five consecutive quarters and has posted a very impressive average earnings surprise of 45.24% in its last four quarterly reports.

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Seagate Technology (STX - Free Report)

Data storage and infrastructure solutions provider Seagate Technology reassuringly surpassed its fiscal second quarter bottom line expectations on Wednesday and is starting to reconfirm the return of its lucrative earnings potential.

Seagate posted a surprising profit with Q2 EPS at $0.12 a share compared to estimates that called for an adjusted loss of -0.07 a share. This was despite sales of $1.55 billion slightly missing estimates of roughly $1.56 billion.

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Still, Seagate's stock sports a Zacks Rank #2 (Buy) as its projected earnings rebound is starting to look more likely with EPS expected to soar 73% this year and then skyrocket and expand another 1,254% in FY25 to $4.47 per share.

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Bottom Line

Following their favorable quarterly results earnings estimate revisions are likely to trend higher for Paccar, Stride, and Seagate Technology making them three stand-out stocks to buy at the moment. Furthermore, these companies should be viable investments for 2024 and beyond.

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