The Zacks Analyst Blog Highlights: Waste Management, TC Energy, Duke Energy, DexCom And Republic Services
Zacks Investment Research | Feb 12, 2020 08:46PM ET
For Immediate Release
Chicago, IL – February 13, 2020 – 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: Waste Management Inc. (NYSE:WM) , TC Energy Corp. (TSX:TRP) , Duke Energy Corp. (NYSE:DUK) , DexCom Inc. (NASDAQ:DXCM) and Republic Services Inc. (NYSE:RSG) .
Here are highlights from Wednesday’s Analyst Blog:
5 Must-Buy Corporate Giants Set to Beat on Earnings Thursday
Wall Street had a dream run in 2019 wherein all three major stock indexes, predominantly comprising large-cap stocks, witnessed best yearly performances in six years. Moreover, fourth-quarter 2019 earnings trends have been showing steady improvement.
Although corporate earnings growth was negative year over year in the first three quarters of last year, fourth-quarter results have been faring better than initially anticipated.
Here we represent five corporate behemoths with favorable Zacks Rank that are poised to beat fourth-quarter 2019 earnings estimates tomorrow (Feb 13, 2020).
Fourth-Quarter at a Glance
The final three months of last year were quite promising as the U.S.-China trade war finally showed signs of shimmering down and strong economic data boosted investor sentiments. Moreover, the Fed’s timely intervention and accommodative monetary policy helped the economy, especially the sagging U.S. housing market to recover with a low mortgage rate.
The U.S. economy is on a stable footing. In the fourth quarter, the GDP grew at 2.1%, the economy grew 2.3% in 2019. Strong consumer spending (constituting 70% of GDP), robust labor market with a historically low-level of unemployment, steady growth in wage rate and housing-market revival are likely to get reflected in fourth-quarter earnings results.
Better-Than-Expected Fourth-Quarter Earnings So Far
Fourth-quarter 2019 earnings results have been 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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