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The Zacks Analyst Blog Highlights: Take-Two Interactive, Fox Corp, Carrier Global, CDW Corp and Sun Life Financial
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For Immediate Release
Chicago, IL – February 9, 2021 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Take-Two Interactive Software, Inc. (TTWO - Free Report) , Fox Corporation (FOXA - Free Report) , Carrier Global Corporation (CARR - Free Report) , CDW Corporation (CDW - Free Report) and Sun Life Financial Inc. (SLF - Free Report) .
Here are highlights from Monday’s Analyst Blog:
Top 5 Large-Cap Stocks Set to Beat Earnings Results This Week
Fourth-quarter 2020 earnings are in full swing with better-than-expected results on board. Strong overall earnings results and future guidance will support the current stock market valuation, which a section of economists and financial experts have already characterized as overvalued.
Meanwhile, five large-cap (market capital > $10 billion) stocks with a favorable Zacks Rank are poised to beat earnings estimates this week. Investment in these stocks should be fruitful going forward.
Better-Than-Expected Fourth-Quarter Earnings Results So Far
As of Feb 5, 292 S&P 500 companies reported their quarterly results. Total earnings of these companies were up 4.9% from the same period last year on 2.4% higher revenues, with 80.5% beating EPS estimates and 79.5% beating revenue estimates.
Overall, the fourth-quarter earnings for the S&P 500 Index are projected to be up 2.2% year over year on 2.5% higher revenues. This is in contrast to the projection of a 7.8% decline in earnings on 0.3% higher revenues at the beginning of the reporting cycle.
Notably, first-quarter earnings were down 12.8% year over year on 1.6% higher revenues. Second-quarter earnings plunged 32.2% on 9.3% lower revenues. Third-quarter earnings dropped 7% year over year on 0.7% lower revenues. The fourth-quarter earnings estimates were improving steadily since July 2020. (Read More: Q4 Earnings Growth Turns Positive)
Our research shows that for stocks with the combination of a Zacks Rank #3 (Hold) or better and a positive Earnings ESP, the chance of an earnings beat is as high as 70%. These stocks are anticipated to appreciate after the earnings releases. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter.
Take-Two Interactive develops, publishes, and markets interactive entertainment solutions for consumers worldwide. The company offers its products under the Rockstar Games and 2K labels, as well as under the Private Division and Social Point labels. The company has an Earnings ESP of +16.11% for third-quarter fiscal 2021 (ended December).
Take-Two Interactive has an expected earnings growth rate of 2.4% for the current year (ending March 2021). The Zacks Consensus Estimate for current-year earnings has improved 0.4% over the last 7 days. It has a trailing four-quarter earnings surprise of 49%, on average. The company is set to release earnings results on Feb 8, after the closing bell.
Fox Corp. operates as a news, sports, and entertainment company in the United States. It operates through the Cable Network Programming, Television, and Other, Corporate and Eliminations segments. The company has an Earnings ESP of +145.46% for second-quarter fiscal 2021 (ended December).
The Zacks Consensus Estimate for Fox Corp.'s current-year earnings has improved 2.7% over the last 30 days. It has a trailing four-quarter earnings surprise of 106.6%, on average. The company is set to release earnings results on Feb 9, before the opening bell.
Carrier Global provides heating, ventilating, and air conditioning (HVAC), refrigeration, fire, security, and building automation technologies worldwide. It operates through three segments: HVAC, Refrigeration, and Fire & Security. The company has an Earnings ESP of +10.96% for fourth-quarter 2020.
Carrier Global has an expected earnings growth rate of 12.5% for the current year. The Zacks Consensus Estimate for current-year earnings has improved 1.6% over the last 30 days. It has a trailing four-quarter earnings surprise of 48.7%, on average. The company is set to release earnings results on Feb 9, before the opening bell.
CDW Corp. provides integrated IT solutions to business, government, education and healthcare customers in the United States, the U.K. and Canada. The company has an Earnings ESP of +3.40% for fourth-quarter 2020.
CDW has an expected earnings growth rate of 6.2% for the current year. The Zacks Consensus Estimate for current-year earnings has improved 0.6% over the last 7 days. It has a trailing four-quarter earnings surprise of 11.1%, on average. The company is set to release earnings results on Feb 10, before the opening bell.
Sun Life Financial is a financial services company providing insurance, wealth and asset management solutions to individuals and corporate clients worldwide. It operates through five segments: Sun Life Financial Canada, Sun Life Financial United States, Sun Life Financial Asset Management, Sun Life Financial Asia and Corporate. The company has an Earnings ESP of +12.50% for fourth-quarter 2020.
The Zacks Consensus Estimate for Sun Life's current-year earnings has improved 1.5% over the last 30 days. It has a trailing four-quarter earnings surprise of 14.8%, on average. The company is set to release earnings results on Feb 10, after the closing bell.
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it's expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks' just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
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The Zacks Analyst Blog Highlights: Take-Two Interactive, Fox Corp, Carrier Global, CDW Corp and Sun Life Financial
For Immediate Release
Chicago, IL – February 9, 2021 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Take-Two Interactive Software, Inc. (TTWO - Free Report) , Fox Corporation (FOXA - Free Report) , Carrier Global Corporation (CARR - Free Report) , CDW Corporation (CDW - Free Report) and Sun Life Financial Inc. (SLF - Free Report) .
Here are highlights from Monday’s Analyst Blog:
Top 5 Large-Cap Stocks Set to Beat Earnings Results This Week
Fourth-quarter 2020 earnings are in full swing with better-than-expected results on board. Strong overall earnings results and future guidance will support the current stock market valuation, which a section of economists and financial experts have already characterized as overvalued.
Meanwhile, five large-cap (market capital > $10 billion) stocks with a favorable Zacks Rank are poised to beat earnings estimates this week. Investment in these stocks should be fruitful going forward.
Better-Than-Expected Fourth-Quarter Earnings Results So Far
As of Feb 5, 292 S&P 500 companies reported their quarterly results. Total earnings of these companies were up 4.9% from the same period last year on 2.4% higher revenues, with 80.5% beating EPS estimates and 79.5% beating revenue estimates.
Overall, the fourth-quarter earnings for the S&P 500 Index are projected to be up 2.2% year over year on 2.5% higher revenues. This is in contrast to the projection of a 7.8% decline in earnings on 0.3% higher revenues at the beginning of the reporting cycle.
Notably, first-quarter earnings were down 12.8% year over year on 1.6% higher revenues. Second-quarter earnings plunged 32.2% on 9.3% lower revenues. Third-quarter earnings dropped 7% year over year on 0.7% lower revenues. The fourth-quarter earnings estimates were improving steadily since July 2020. (Read More: Q4 Earnings Growth Turns Positive)
Our Top Picks
We have narrowed down our search to five large-cap stocks slated to release earnings results this week. Each of these stocks carries a Zacks Rank #2 (Buy) and has a positive Earnings ESP. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Our research shows that for stocks with the combination of a Zacks Rank #3 (Hold) or better and a positive Earnings ESP, the chance of an earnings beat is as high as 70%. These stocks are anticipated to appreciate after the earnings releases. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter.
Take-Two Interactive develops, publishes, and markets interactive entertainment solutions for consumers worldwide. The company offers its products under the Rockstar Games and 2K labels, as well as under the Private Division and Social Point labels. The company has an Earnings ESP of +16.11% for third-quarter fiscal 2021 (ended December).
Take-Two Interactive has an expected earnings growth rate of 2.4% for the current year (ending March 2021). The Zacks Consensus Estimate for current-year earnings has improved 0.4% over the last 7 days. It has a trailing four-quarter earnings surprise of 49%, on average. The company is set to release earnings results on Feb 8, after the closing bell.
Fox Corp. operates as a news, sports, and entertainment company in the United States. It operates through the Cable Network Programming, Television, and Other, Corporate and Eliminations segments. The company has an Earnings ESP of +145.46% for second-quarter fiscal 2021 (ended December).
The Zacks Consensus Estimate for Fox Corp.'s current-year earnings has improved 2.7% over the last 30 days. It has a trailing four-quarter earnings surprise of 106.6%, on average. The company is set to release earnings results on Feb 9, before the opening bell.
Carrier Global provides heating, ventilating, and air conditioning (HVAC), refrigeration, fire, security, and building automation technologies worldwide. It operates through three segments: HVAC, Refrigeration, and Fire & Security. The company has an Earnings ESP of +10.96% for fourth-quarter 2020.
Carrier Global has an expected earnings growth rate of 12.5% for the current year. The Zacks Consensus Estimate for current-year earnings has improved 1.6% over the last 30 days. It has a trailing four-quarter earnings surprise of 48.7%, on average. The company is set to release earnings results on Feb 9, before the opening bell.
CDW Corp. provides integrated IT solutions to business, government, education and healthcare customers in the United States, the U.K. and Canada. The company has an Earnings ESP of +3.40% for fourth-quarter 2020.
CDW has an expected earnings growth rate of 6.2% for the current year. The Zacks Consensus Estimate for current-year earnings has improved 0.6% over the last 7 days. It has a trailing four-quarter earnings surprise of 11.1%, on average. The company is set to release earnings results on Feb 10, before the opening bell.
Sun Life Financial is a financial services company providing insurance, wealth and asset management solutions to individuals and corporate clients worldwide. It operates through five segments: Sun Life Financial Canada, Sun Life Financial United States, Sun Life Financial Asset Management, Sun Life Financial Asia and Corporate. The company has an Earnings ESP of +12.50% for fourth-quarter 2020.
The Zacks Consensus Estimate for Sun Life's current-year earnings has improved 1.5% over the last 30 days. It has a trailing four-quarter earnings surprise of 14.8%, on average. The company is set to release earnings results on Feb 10, after the closing bell.
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it's expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks' just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
See 8 breakthrough stocks now>>
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.