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Zacks Market Edge Highlights: ExxonMobil, Chevron, Philip Morris International, Gilead Sciences and General Mills
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For Immediate Release
Chicago, IL – July 7, 2022 – Zacks Market Edge is a podcast hosted weekly by Zacks Stock Strategist Tracey Ryniec. Every week, Tracey will be joined by guests to discuss the hottest investing topics in stocks, bonds and ETFs and how it impacts your life. To listen to the podcast, click here: https://www.zacks.com/stock/news/1948807/q2-earnings-energy-and-what-else)
Q2 Earnings: Energy and What Else?
Welcome to Episode #321 of the Zacks Market Edge Podcast.
(0:45) - Breaking Down Earnings Expectations: Is It All Doom and Gloom?
(6:30) - Should We Expect Major Growth From Energy Stocks?
(11:10) - Is A Possible Recession Currently Prices Into The Market
(17:25) - Where Should Investors Be Looking To Invest Based Off Earnings
Every week, host and Zacks stock strategist, Tracey Ryniec, will be joined by guests to discuss the hottest investing topics in stocks, bonds and ETFs and how it impacts your life.
This week, Tracey is joined by Sheraz Mian, Zacks Director of Research, to discuss what is happening with second quarter earnings and revenue estimates. Wall Street is expecting the worst. Sheraz confirms that analysts have been cutting going into the reports even though there haven't been many company warnings.
S&P 500 earnings are expected to be up 2.5% year-over-year on 10.8% higher revenues. But much of that is attributed to energy, which is expected to have another record quarter.
Energy earnings estimates are up 74% since the start of the year. If you exclude energy from the S&P 500, earnings are expected to be down 5.5% on 8.6% higher revenue.
Energy Stocks Are on Sale
Energy stocks have sold off double digits in the last 4 weeks, even as the earnings estimates are on the rise.
ExxonMobil is a popular oil stock with professional money managers. Shares have fallen 14.4% in the last month and now trade with a forward P/E of just 8.5.
ExxonMobil earnings are expected to rise 90.7% in 2022 to $10.26 from $5.38 last year.
ExxonMobil continues to pay a big base dividend, which is currently yielding 4%.
Should investors be looking at ExxonMobil this earnings season?
Chevron shares are cheap in 2022. They trade with a forward P/E of 8.4. It's not a surprise, then, that Warren Buffett has been buying shares of Chevron for the Berkshire Hathaway portfolio in 2022.
Shares have gone on sale in the last month, falling nearly 20%. Yet earnings are expected to rise 114% to $17.40 versus just $8.13 last year.
Is Chevron a hidden gem?
Back to the Basics
Some investors have been hiding out in the consumer staples, tobacco and drug stocks this year. Many are paying dividends, with some yielding as high as 5%.
General Mills recently reported its fiscal fourth quarter earnings results and beat the Zacks Consensus Estimate by 11%. Despite strong inflationary pressures, General Mills still raised its dividend which is yielding 2.7%.
General Mills shares are actually up this year, gaining 11.5%.
Earnings are expected to rise 1.5% this year but aren't cheap, with a forward P/E of 19.
Should you join the trend of hiding out in General Mills in 2022?
What Else do you Need to Know About the Second Quarter Earnings Season?
Tune into this week's podcast to find out.
Why Haven't You Looked at Zacks' Top Stocks?
Our 5 best-performing strategies have blown away the S&P's impressive +28.8% gain in 2021. Amazingly, they soared +40.3%, +48.2%, +67.6%, +94.4%, and +95.3%. Today you can access their live picks without cost or obligation.
Zacks Investment Research is under common control with affiliated entities (including a broker-dealer and an investment adviser), which may engage in transactions involving the foregoing securities for the clients of such affiliates.
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/performancefor information about the performance numbers displayed in this press release.
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Zacks Market Edge Highlights: ExxonMobil, Chevron, Philip Morris International, Gilead Sciences and General Mills
For Immediate Release
Chicago, IL – July 7, 2022 – Zacks Market Edge is a podcast hosted weekly by Zacks Stock Strategist Tracey Ryniec. Every week, Tracey will be joined by guests to discuss the hottest investing topics in stocks, bonds and ETFs and how it impacts your life. To listen to the podcast, click here: https://www.zacks.com/stock/news/1948807/q2-earnings-energy-and-what-else)
Q2 Earnings: Energy and What Else?
Welcome to Episode #321 of the Zacks Market Edge Podcast.
Every week, host and Zacks stock strategist, Tracey Ryniec, will be joined by guests to discuss the hottest investing topics in stocks, bonds and ETFs and how it impacts your life.
This week, Tracey is joined by Sheraz Mian, Zacks Director of Research, to discuss what is happening with second quarter earnings and revenue estimates. Wall Street is expecting the worst. Sheraz confirms that analysts have been cutting going into the reports even though there haven't been many company warnings.
S&P 500 earnings are expected to be up 2.5% year-over-year on 10.8% higher revenues. But much of that is attributed to energy, which is expected to have another record quarter.
Energy earnings estimates are up 74% since the start of the year. If you exclude energy from the S&P 500, earnings are expected to be down 5.5% on 8.6% higher revenue.
Energy Stocks Are on Sale
Energy stocks have sold off double digits in the last 4 weeks, even as the earnings estimates are on the rise.
1. ExxonMobil (XOM - Free Report)
ExxonMobil is a popular oil stock with professional money managers. Shares have fallen 14.4% in the last month and now trade with a forward P/E of just 8.5.
ExxonMobil earnings are expected to rise 90.7% in 2022 to $10.26 from $5.38 last year.
ExxonMobil continues to pay a big base dividend, which is currently yielding 4%.
Should investors be looking at ExxonMobil this earnings season?
2. Chevron (CVX - Free Report)
Chevron shares are cheap in 2022. They trade with a forward P/E of 8.4. It's not a surprise, then, that Warren Buffett has been buying shares of Chevron for the Berkshire Hathaway portfolio in 2022.
Shares have gone on sale in the last month, falling nearly 20%. Yet earnings are expected to rise 114% to $17.40 versus just $8.13 last year.
Is Chevron a hidden gem?
Back to the Basics
Some investors have been hiding out in the consumer staples, tobacco and drug stocks this year. Many are paying dividends, with some yielding as high as 5%.
3. Philip Morris International (PM - Free Report)
Tobacco companies like Philip Morris International are now popular with some professional money managers as they are paying large dividends.
Philip Morris pays a dividend yielding 5%. Shares have rallied 3.2% year-to-date.
Yet earnings are expected to decline 9% to $5.53.
Should Philip Morris be on your watch list?
4. Gilead Sciences (GILD - Free Report)
Gilead Sciences is popular with investors looking for income. It is yielding 4.7%.
Shares of Gilead Sciences have fallen 14% year-to-date and is now cheap, with a forward P/E of just 9.5.
Earnings are expected to fall 9.5% to $6.59 from $7.28 last year.
Should investors hide out in Gilead this year?
5. General Mills, Inc. (GIS - Free Report)
General Mills recently reported its fiscal fourth quarter earnings results and beat the Zacks Consensus Estimate by 11%. Despite strong inflationary pressures, General Mills still raised its dividend which is yielding 2.7%.
General Mills shares are actually up this year, gaining 11.5%.
Earnings are expected to rise 1.5% this year but aren't cheap, with a forward P/E of 19.
Should you join the trend of hiding out in General Mills in 2022?
What Else do you Need to Know About the Second Quarter Earnings Season?
Tune into this week's podcast to find out.
Why Haven't You Looked at Zacks' Top Stocks?
Our 5 best-performing strategies have blown away the S&P's impressive +28.8% gain in 2021. Amazingly, they soared +40.3%, +48.2%, +67.6%, +94.4%, and +95.3%. Today you can access their live picks without cost or obligation.
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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/performancefor information about the performance numbers displayed in this press release.