We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
There's Opportunity Brewing in These Top-Rated Stocks After Earnings
Read MoreHide Full Article
Wrapping up this week’s earnings lineup a few more stocks have become intriguing after reporting strong third-quarter results on Thursday.
Surpassing Q3 top and bottom line expectations here are two of these top-rated stocks to consider right now.
Light & Wonder (LNW - Free Report) : We’ll start with Light & Wonder, a leading developer of technology-based products and services for various gaming industries globally. Light & Wonder’s stock currently sports a Zacks Rank #1 (Strong Buy) and popped +11% today after posting strong third-quarter results on Thursday.
Earnings of $0.81 per share crushed Q3 estimates of $0.42 a share with sales coming in at $731 million and 2% above estimates. Even better, Q3 earnings soared from $0.14 a share in the prior year quarter with sales rising 13% year over year.
Image Source: Zacks Investment Research
Notably, Light & Wonder’s growing niche within the gaming industry is very intriguing as total sales are now forecasted to jump 13% in fiscal 2023 and rise another 6% in FY24 to $3.01 billion.
More importantly is that Light & Wonder is starting to blow past the profitability line with annual earnings expected at $1.09 per share this year compared to an adjusted loss of -$0.54 a share in 2022. Plus, FY24 earnings are projected to skyrocket another 172% to $2.97 per share.
Image Source: Zacks Investment Research
Consolidated Water (CWCO - Free Report) : Sporting a Zack Ranks #2 (Buy) Consolidated Water’s stock spiked +10% today after reporting stronger-than-expected Q3 results on Thursday.
Operating seawater desalination plants and water distribution systems, earnings of $0.55 per share surpassed estimates of $0.41 a share by 41% and skyrocketed from $0.05 a share in Q3 2022. Third-quarter sales of $49.85 million topped estimates of $37.02 million by 34% and nearly doubled from $25.05 million a year ago.
Image Source: Zacks Investment Research
Making Consolidated Water’s recent growth more attractive is that CWCO trades far more reasonably relative to its past at 20.6X forward earnings which is on par with the S&P 500’s P/E valuation and not a stretched premium to the industry average of 15X. Furthermore, Consolidated Water’s stock now trades 62% below its decade-long high of 54.9X and at a slight discount to the median of 21.2X.
Image Source: Zacks Investment Research
Bottom Line
Following stellar Q3 results, the growth of Light & Wonder and Consolidated Water has become more appealing. Both companies are starting to capitalize on the niches they have in their respective industries with now looking like a good time to invest.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
There's Opportunity Brewing in These Top-Rated Stocks After Earnings
Wrapping up this week’s earnings lineup a few more stocks have become intriguing after reporting strong third-quarter results on Thursday.
Surpassing Q3 top and bottom line expectations here are two of these top-rated stocks to consider right now.
Light & Wonder (LNW - Free Report) : We’ll start with Light & Wonder, a leading developer of technology-based products and services for various gaming industries globally. Light & Wonder’s stock currently sports a Zacks Rank #1 (Strong Buy) and popped +11% today after posting strong third-quarter results on Thursday.
Earnings of $0.81 per share crushed Q3 estimates of $0.42 a share with sales coming in at $731 million and 2% above estimates. Even better, Q3 earnings soared from $0.14 a share in the prior year quarter with sales rising 13% year over year.
Image Source: Zacks Investment Research
Notably, Light & Wonder’s growing niche within the gaming industry is very intriguing as total sales are now forecasted to jump 13% in fiscal 2023 and rise another 6% in FY24 to $3.01 billion.
More importantly is that Light & Wonder is starting to blow past the profitability line with annual earnings expected at $1.09 per share this year compared to an adjusted loss of -$0.54 a share in 2022. Plus, FY24 earnings are projected to skyrocket another 172% to $2.97 per share.
Image Source: Zacks Investment Research
Consolidated Water (CWCO - Free Report) : Sporting a Zack Ranks #2 (Buy) Consolidated Water’s stock spiked +10% today after reporting stronger-than-expected Q3 results on Thursday.
Operating seawater desalination plants and water distribution systems, earnings of $0.55 per share surpassed estimates of $0.41 a share by 41% and skyrocketed from $0.05 a share in Q3 2022. Third-quarter sales of $49.85 million topped estimates of $37.02 million by 34% and nearly doubled from $25.05 million a year ago.
Image Source: Zacks Investment Research
Making Consolidated Water’s recent growth more attractive is that CWCO trades far more reasonably relative to its past at 20.6X forward earnings which is on par with the S&P 500’s P/E valuation and not a stretched premium to the industry average of 15X. Furthermore, Consolidated Water’s stock now trades 62% below its decade-long high of 54.9X and at a slight discount to the median of 21.2X.
Image Source: Zacks Investment Research
Bottom Line
Following stellar Q3 results, the growth of Light & Wonder and Consolidated Water has become more appealing. Both companies are starting to capitalize on the niches they have in their respective industries with now looking like a good time to invest.