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3 Top-Rated Stocks to Buy After Comfortably Surpassing Earnings Expectations
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More companies are starting to shine this earnings season with the Q4 EPS scorecard for the S&P 500 members that have reported results so far up roughly 6% from last year.
This week’s earnings lineup has featured several top-rated Zacks stocks that have added to this optimistic growth narrative and here are a few to consider.
Energy Transfer (ET - Free Report) : Starting with Energy Transfer which currently boasts a Zacks Rank #1 (Strong Buy), the limited partnership with diversified energy assets posted Q4 earnings of $0.37 a share on Wednesday which beat the Zacks Consensus of $0.29 a share by 27%.
Image Source: Zacks Investment Research
Fourth quarter EPS also grew 8% from a year ago and earnings estimate revisions for fiscal 2024 and FY25 are up 5% and 9% over the last 30 days respectively. Notably, Energy Transfer’s Zacks Oil and Gas-Production Pipeline-MLB Industry is currently in the top 20% of over 250 Zacks industries.
Image Source: Zacks Investment Research
Blackline (BL - Free Report) : The tech sector has largely contributed to the broader growth in this year’s Q4 earnings season with internet software player Blackline adding to this correspondence on Tuesday. Blackline sports a Zacks Rank #2 (Buy) and the Zacks Internet-Software Industry is in the top 30% at the moment.
Providing cloud-based solutions for finance and accounting purposes Blackline’s Q4 earnings nearly doubled to $0.69 a share and came in 25% above estimates of $0.55 a share. Most intriguing, Blackline’s gross profit has kept soaring jumping 11% from the comparative quarter to $118.11 million with the chart below set to ascend higher.
Image Source: Zacks Investment Research
DaVita (DVA - Free Report) : Dialysis services provider DaVita sports a Zacks Rank #2 (Buy) and continues to reconfirm its appealing growth potential among the medical sector. Furthermore, DaVita’s Zacks Medical-Outpatient and Home Healthcare Industry is in the top 28% of all Zacks industries.
Correlating with such, DaVita posted Q4 earnings of $1.87 per share on Tuesday surpassing estimates of $1.53 a share by 22%. More impressive, Q4 EPS soared 68% from $1.11 a share in the prior year quarter. Plus, DaVita has exceeded earnings expectations for five straight quarters posting a very impressive average earnings surprise of 35% in its last four quarterly reports.
Image Source: Zacks Investment Research
Takeaway
Investors are always looking for stocks of companies that illustrate business operations are stronger than anticipated. These top-rated Zacks stocks fit the bill after easily surpassing their Q4 earnings expectations and it would be no surprise if they drift higher in the coming weeks.
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3 Top-Rated Stocks to Buy After Comfortably Surpassing Earnings Expectations
More companies are starting to shine this earnings season with the Q4 EPS scorecard for the S&P 500 members that have reported results so far up roughly 6% from last year.
This week’s earnings lineup has featured several top-rated Zacks stocks that have added to this optimistic growth narrative and here are a few to consider.
Energy Transfer (ET - Free Report) : Starting with Energy Transfer which currently boasts a Zacks Rank #1 (Strong Buy), the limited partnership with diversified energy assets posted Q4 earnings of $0.37 a share on Wednesday which beat the Zacks Consensus of $0.29 a share by 27%.
Image Source: Zacks Investment Research
Fourth quarter EPS also grew 8% from a year ago and earnings estimate revisions for fiscal 2024 and FY25 are up 5% and 9% over the last 30 days respectively. Notably, Energy Transfer’s Zacks Oil and Gas-Production Pipeline-MLB Industry is currently in the top 20% of over 250 Zacks industries.
Image Source: Zacks Investment Research
Blackline (BL - Free Report) : The tech sector has largely contributed to the broader growth in this year’s Q4 earnings season with internet software player Blackline adding to this correspondence on Tuesday. Blackline sports a Zacks Rank #2 (Buy) and the Zacks Internet-Software Industry is in the top 30% at the moment.
Providing cloud-based solutions for finance and accounting purposes Blackline’s Q4 earnings nearly doubled to $0.69 a share and came in 25% above estimates of $0.55 a share. Most intriguing, Blackline’s gross profit has kept soaring jumping 11% from the comparative quarter to $118.11 million with the chart below set to ascend higher.
Image Source: Zacks Investment Research
DaVita (DVA - Free Report) : Dialysis services provider DaVita sports a Zacks Rank #2 (Buy) and continues to reconfirm its appealing growth potential among the medical sector. Furthermore, DaVita’s Zacks Medical-Outpatient and Home Healthcare Industry is in the top 28% of all Zacks industries.
Correlating with such, DaVita posted Q4 earnings of $1.87 per share on Tuesday surpassing estimates of $1.53 a share by 22%. More impressive, Q4 EPS soared 68% from $1.11 a share in the prior year quarter. Plus, DaVita has exceeded earnings expectations for five straight quarters posting a very impressive average earnings surprise of 35% in its last four quarterly reports.
Image Source: Zacks Investment Research
Takeaway
Investors are always looking for stocks of companies that illustrate business operations are stronger than anticipated. These top-rated Zacks stocks fit the bill after easily surpassing their Q4 earnings expectations and it would be no surprise if they drift higher in the coming weeks.