Buy 5 Top Stocks Poised To Beat Earnings Estimates This Week
Zacks Investment Research | Feb 10, 2020 08:07PM ET
Wall Street had a dream run in 2019 wherein all three major stock indexes witnessed the best yearly performance in six years. Notably, fourth-quarter 2019 earnings trends are showing steady improvement.
Although corporate earnings growth was negative year over year in the first three quarters of last year, fourth-quarter results are faring better than initially anticipated. Below we will discuss how the reporting cycle is faring and present five top-ranked mid-cap stocks that are poised to beat earnings estimates next week.
Fourth-Quarter Earnings Expectations Return to Positive Territory
Fourth-quarter 2019 earnings results are improving significantly. In fact, overall earnings expectations have rebounded and are in positive territory. As of Feb 7, 323 S&P 500 members reported fourth-quarter earnings results. Total earnings of these companies are up 0.3% from the same period last year on 4% higher revenues. Of the total, 72.1% surpassed EPS estimates while 67.8% outpaced revenue estimates.
Overall, fourth-quarter 2019 earnings for the S&P 500 Index were projected to be up 0.6% year over year on 4.2% higher revenues. This suggests a complete turnaround from earnings decline of 3.2% year over year on 3.5% higher revenues, projected at the beginning of the reporting cycle. (Read More: Zacks Investment Research
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