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The Zacks Analyst Blog Highlights: Avnet, CACI International, Schrodinger and GrowGeneration
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For Immediate Release
Chicago, IL – August 11, 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: Avnet Inc. (AVT - Free Report) , CACI International Inc. (CACI - Free Report) , Schrödinger Inc. (SDGR - Free Report) and GrowGeneration Corp. (GRWG - Free Report) .
Here are highlights from Tuesday’s Analyst Blog:
4 Mid-Cap Stocks to Buy Ahead of Earnings Results This Week
The second-quarter earnings season is approaching its end. This is the last major week of the ongoing reporting cycle with nearly 1,000 companies slated to release their earnings results. So far, results are highly impressive with all-round strength. Aggregate earnings of the market's benchmark — the S&P 500 Index — are on track to register a new all-time high with significant momentum on the revenue front.
This week, four mid-cap stocks with a favorable Zacks Rank are poised to beat on earnings results. Investment in these stocks should be fruitful going forward.
Robust Q2 Earnings
As of Aug 6, 444 companies of the S&P 500 Index reported results. Total earnings of these companies jumped 105.1% year over year on 27.4% higher revenues. Moreover, 87.4% of these companies beat their earnings per share (EPS) estimates and a record 86.9% surpassed revenue estimates.
For the second quarter as a whole, total earnings of the S&P 500 Index are expected to be up 91.8% year over year on 24.2% higher revenues. This indicates a significant improvement over the initial projection of EPS increasing 62.2% from the same period last year on 18.2% higher revenues.
These estimates are impressive primarily because second-quarter 2020 witnessed a lockdown owing to the global outbreak of the deadly coronavirus. Notwithstanding favorable comparisons with last year, second-quarter 2021 earnings estimates indicate nearly 30% growth from the pre-pandemic second quarter of 2019. In fact, the earnings estimates for 2021 have been growing steadily since the beginning of this year.
Our Top Picks
The four mid-cap (market capital >$4 billion <$6,000 billion) stocks discussed here are slated to release earnings results this week. Each of these stocks carries either a Zacks Rank# 1 (Strong Buy) or 2 (Buy) and has a positive Earnings ESP. You can see the complete list of today’s Zacks #1 Rank stocks here.
Our research shows that for stocks with the combination of a positive Earnings ESP and a Zacks Rank #3 (Hold) or better, the chance of an earnings beat is as high as 70%. These stocks are anticipated to appreciate after earnings releases. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Avnet is one of the world’s largest distributors of electronic components and computer products. The company’s customer base includes original equipment manufacturers, electronic manufacturing services providers, original design manufacturers, and value-added resellers.
Avnet maintains an extensive inventory, including electronic products from more than 300 component and system manufacturers, which it distributes to customers worldwide. It operates through two segments, Electronic Components and Farnell.
The company has an Earnings ESP of +17.71%. It has an expected earnings growth rate of 41% for the current year (ending June 2022). The Zacks Consensus Estimate for current-year earnings improved 3.9% over the last 30 days.
Avnet recorded earnings surprises in the last four quarters, with an average beat of 389.6%. This Zacks Rank #1 company is set to release fourth-quarter fiscal 2021 earnings results on Aug 11, after the closing bell.
CACI International delivers IT applications and infrastructure to improve communications and secure the integrity of information systems and networks, enhance data collection and analysis, and increase efficiency and mission effectiveness. Its solutions enrich defense and intelligence capabilities, assure homeland security, improve decision-making, and help customers operate smartly and proficiently.
The company has an Earnings ESP of +6.62%. The Zacks Consensus Estimate for current-year earnings improved 0.2% over the last 30 days. CACI International recorded earnings surprises in the last four quarters, with an average beat of 21.5%. This Zacks Rank #2 company is set to release fourth-quarter fiscal 2021 earnings results on Aug 11, after the closing bell.
Schrödinger provides physics-based computational platforms to accelerate drug discovery and materials design deployed by biopharmaceutical and industrial companies, academic institutions and government laboratories. It operates through two segments, Software and Drug Discovery.
The company has an Earnings ESP of +76.14%. The Zacks Consensus Estimate for current-year earnings improved 3.6% over the last 30 days. This Zacks Rank #2 company is set to release second-quarter fiscal 2012 earnings results on Aug 12, before the opening bell.
GrowGeneration owns and operates specialty retail hydroponic and organic gardening stores. The company carries and sells products which include organic nutrients and soils, advanced lighting technology and state-of-the-art hydroponic equipment to be used indoors and outdoors by commercial and home growers.
The company has an Earnings ESP of +3.45%. It has an expected earnings growth rate of more than 100% for the current year. The Zacks Consensus Estimate for current-year earnings improved 2% over the last 30 days.
GrowGeneration recorded earnings surprises in three out of the last four quarters, with an average beat of 10.7%. This Zacks Rank #2 company is set to release second-quarter 2021 earnings results on Aug 12, before the opening bell.
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: Avnet, CACI International, Schrodinger and GrowGeneration
For Immediate Release
Chicago, IL – August 11, 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: Avnet Inc. (AVT - Free Report) , CACI International Inc. (CACI - Free Report) , Schrödinger Inc. (SDGR - Free Report) and GrowGeneration Corp. (GRWG - Free Report) .
Here are highlights from Tuesday’s Analyst Blog:
4 Mid-Cap Stocks to Buy Ahead of Earnings Results This Week
The second-quarter earnings season is approaching its end. This is the last major week of the ongoing reporting cycle with nearly 1,000 companies slated to release their earnings results. So far, results are highly impressive with all-round strength. Aggregate earnings of the market's benchmark — the S&P 500 Index — are on track to register a new all-time high with significant momentum on the revenue front.
This week, four mid-cap stocks with a favorable Zacks Rank are poised to beat on earnings results. Investment in these stocks should be fruitful going forward.
Robust Q2 Earnings
As of Aug 6, 444 companies of the S&P 500 Index reported results. Total earnings of these companies jumped 105.1% year over year on 27.4% higher revenues. Moreover, 87.4% of these companies beat their earnings per share (EPS) estimates and a record 86.9% surpassed revenue estimates.
For the second quarter as a whole, total earnings of the S&P 500 Index are expected to be up 91.8% year over year on 24.2% higher revenues. This indicates a significant improvement over the initial projection of EPS increasing 62.2% from the same period last year on 18.2% higher revenues.
These estimates are impressive primarily because second-quarter 2020 witnessed a lockdown owing to the global outbreak of the deadly coronavirus. Notwithstanding favorable comparisons with last year, second-quarter 2021 earnings estimates indicate nearly 30% growth from the pre-pandemic second quarter of 2019. In fact, the earnings estimates for 2021 have been growing steadily since the beginning of this year.
Our Top Picks
The four mid-cap (market capital >$4 billion <$6,000 billion) stocks discussed here are slated to release earnings results this week. Each of these stocks carries either a Zacks Rank# 1 (Strong Buy) or 2 (Buy) and has a positive Earnings ESP. You can see the complete list of today’s Zacks #1 Rank stocks here.
Our research shows that for stocks with the combination of a positive Earnings ESP and a Zacks Rank #3 (Hold) or better, the chance of an earnings beat is as high as 70%. These stocks are anticipated to appreciate after earnings releases. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Avnet is one of the world’s largest distributors of electronic components and computer products. The company’s customer base includes original equipment manufacturers, electronic manufacturing services providers, original design manufacturers, and value-added resellers.
Avnet maintains an extensive inventory, including electronic products from more than 300 component and system manufacturers, which it distributes to customers worldwide. It operates through two segments, Electronic Components and Farnell.
The company has an Earnings ESP of +17.71%. It has an expected earnings growth rate of 41% for the current year (ending June 2022). The Zacks Consensus Estimate for current-year earnings improved 3.9% over the last 30 days.
Avnet recorded earnings surprises in the last four quarters, with an average beat of 389.6%. This Zacks Rank #1 company is set to release fourth-quarter fiscal 2021 earnings results on Aug 11, after the closing bell.
CACI International delivers IT applications and infrastructure to improve communications and secure the integrity of information systems and networks, enhance data collection and analysis, and increase efficiency and mission effectiveness. Its solutions enrich defense and intelligence capabilities, assure homeland security, improve decision-making, and help customers operate smartly and proficiently.
The company has an Earnings ESP of +6.62%. The Zacks Consensus Estimate for current-year earnings improved 0.2% over the last 30 days. CACI International recorded earnings surprises in the last four quarters, with an average beat of 21.5%. This Zacks Rank #2 company is set to release fourth-quarter fiscal 2021 earnings results on Aug 11, after the closing bell.
Schrödinger provides physics-based computational platforms to accelerate drug discovery and materials design deployed by biopharmaceutical and industrial companies, academic institutions and government laboratories. It operates through two segments, Software and Drug Discovery.
The company has an Earnings ESP of +76.14%. The Zacks Consensus Estimate for current-year earnings improved 3.6% over the last 30 days. This Zacks Rank #2 company is set to release second-quarter fiscal 2012 earnings results on Aug 12, before the opening bell.
GrowGeneration owns and operates specialty retail hydroponic and organic gardening stores. The company carries and sells products which include organic nutrients and soils, advanced lighting technology and state-of-the-art hydroponic equipment to be used indoors and outdoors by commercial and home growers.
The company has an Earnings ESP of +3.45%. It has an expected earnings growth rate of more than 100% for the current year. The Zacks Consensus Estimate for current-year earnings improved 2% over the last 30 days.
GrowGeneration recorded earnings surprises in three out of the last four quarters, with an average beat of 10.7%. This Zacks Rank #2 company is set to release second-quarter 2021 earnings results on Aug 12, before the opening bell.
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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.