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This week’s earnings lineup will include some unsuspecting names that are very attractive prior to their quarterly results.
Here are three of these top-rated Zacks stocks that are worthy of investors’ consideration and now may be a good time to buy as solid EPS growth is expected in 2023.
Set to report its first-quarter earnings on Wednesday, May 3, Axcelis Technologies stock is standing out with a Zacks Rank #1 (Strong Buy), and its Electronics-Manufacturing Machinery Industry is in the top 27% of over 250 Zacks industries.
Axcelis has carved out a nice niche in its industry as a leading producer of ion implantation equipment used in the fabrication of semiconductors. Axcelis Q1 earnings are expected to be up 2% from the prior year quarter at $1.25 per share, with stellar annual top and bottom-line growth expected as well.
Axcelis stock trades at $123, and the EPS growth is very intriguing with earnings now forecasted to rise 8% this year and soar another 25% in FY24 at $7.36 per share. Earnings estimate revisions have continued to trend higher over the last 60 days as shown in the nearby chart. More impressive, Fiscal 2023 earnings estimates are now up 12% over the last 90 days with FY24 EPS estimates skyrocketing 32%.
Also standing out before its Q1 earnings on Wednesday is Royal Gold which sports a Zacks Rank #2 (Buy) and its Mining-Gold Industry is in the top 28% of all Zacks industries.
Royal Gold stands to benefit from its strong business industry as the company is focused on acquiring and managing precious metals stream and royalty interests with a concentration on gold.
With shares of Royal Gold trading around $133, impressive bottom-line growth is expected despite Q1 earnings projected to dip -5% from the prior year quarter at $0.94 per share. Still, fiscal 2023 earnings are anticipated to jump 12% this year and climb another 15% in FY24 at $4.44 per share.
Earnings estimate revisions are noticeably higher over the last quarter although they have slightly declined in the last week. With that being said, FY23 EPS estimates are still up 6% over the last 90 days with FY24 EPS estimates soaring 27%.
Image Source: Zacks Investment Research
World Wrestling Entertainment )
Rounding out the list is World Wrestling Entertainment which reports its first-quarter earnings on Thursday as well and currently lands a Zacks Rank #2 (Buy).
With shares trading at $108, the EPS growth of WWE stock has been very steady and makes the integrated media and entertainment company worthy of consideration ahead of earnings.
Although Q1 earnings are forecasted to dip -47% YoY at $0.41 per share, the quarterly curtail appears to be shorter term. Higher media rights fees for the flagship weekly programming, Raw and SmackDown, are likely to be offset by the current absence of the large-scale international event.
However, WWE has been expanding across platforms such as Peacock and Hulu while also building new partnerships. To that point, fiscal 2023 earnings are still forecasted to rise 6% this year and jump 11% in FY24 at $3.01 per share. More importantly, this would be a very impressive 254% increase over the last five years with 2019 EPS at $0.85 per share.
Image Source: Zacks Investment Research
Takeaway
The earnings growth and expansion of these companies is hard to overlook going into their first-quarter reports. With solid EPS growth expected in 2023, it’s quite possible that Axcelis Technologies, Royal Gold, and WWE will offer positive guidance during their Q1 reports which could lead to more upside in their stocks.
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3 Top-Rated Stocks to Consider Before Earnings
This week’s earnings lineup will include some unsuspecting names that are very attractive prior to their quarterly results.
Here are three of these top-rated Zacks stocks that are worthy of investors’ consideration and now may be a good time to buy as solid EPS growth is expected in 2023.
Axcelis Technologies (ACLS - Free Report) )
Set to report its first-quarter earnings on Wednesday, May 3, Axcelis Technologies stock is standing out with a Zacks Rank #1 (Strong Buy), and its Electronics-Manufacturing Machinery Industry is in the top 27% of over 250 Zacks industries.
Axcelis has carved out a nice niche in its industry as a leading producer of ion implantation equipment used in the fabrication of semiconductors. Axcelis Q1 earnings are expected to be up 2% from the prior year quarter at $1.25 per share, with stellar annual top and bottom-line growth expected as well.
Axcelis stock trades at $123, and the EPS growth is very intriguing with earnings now forecasted to rise 8% this year and soar another 25% in FY24 at $7.36 per share. Earnings estimate revisions have continued to trend higher over the last 60 days as shown in the nearby chart. More impressive, Fiscal 2023 earnings estimates are now up 12% over the last 90 days with FY24 EPS estimates skyrocketing 32%.
Image Source: Zacks Investment Research
Royal Gold (RGLD - Free Report) )
Also standing out before its Q1 earnings on Wednesday is Royal Gold which sports a Zacks Rank #2 (Buy) and its Mining-Gold Industry is in the top 28% of all Zacks industries.
Royal Gold stands to benefit from its strong business industry as the company is focused on acquiring and managing precious metals stream and royalty interests with a concentration on gold.
With shares of Royal Gold trading around $133, impressive bottom-line growth is expected despite Q1 earnings projected to dip -5% from the prior year quarter at $0.94 per share. Still, fiscal 2023 earnings are anticipated to jump 12% this year and climb another 15% in FY24 at $4.44 per share.
Earnings estimate revisions are noticeably higher over the last quarter although they have slightly declined in the last week. With that being said, FY23 EPS estimates are still up 6% over the last 90 days with FY24 EPS estimates soaring 27%.
Image Source: Zacks Investment Research
World Wrestling Entertainment )
Rounding out the list is World Wrestling Entertainment which reports its first-quarter earnings on Thursday as well and currently lands a Zacks Rank #2 (Buy).
With shares trading at $108, the EPS growth of WWE stock has been very steady and makes the integrated media and entertainment company worthy of consideration ahead of earnings.
Although Q1 earnings are forecasted to dip -47% YoY at $0.41 per share, the quarterly curtail appears to be shorter term. Higher media rights fees for the flagship weekly programming, Raw and SmackDown, are likely to be offset by the current absence of the large-scale international event.
However, WWE has been expanding across platforms such as Peacock and Hulu while also building new partnerships. To that point, fiscal 2023 earnings are still forecasted to rise 6% this year and jump 11% in FY24 at $3.01 per share. More importantly, this would be a very impressive 254% increase over the last five years with 2019 EPS at $0.85 per share.
Image Source: Zacks Investment Research
Takeaway
The earnings growth and expansion of these companies is hard to overlook going into their first-quarter reports. With solid EPS growth expected in 2023, it’s quite possible that Axcelis Technologies, Royal Gold, and WWE will offer positive guidance during their Q1 reports which could lead to more upside in their stocks.