For Immediate Release
Chicago, IL – May 12, 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 Logitech International S.A. LOGI, Grocery Outlet Holding Corp. GO, GFL Environmental Inc. GFL, Health Catalyst Inc. HCAT and Viela Bio Inc. VIE.
Here are highlights from Monday’s Analyst Blog:
Top Stocks to Buy Ahead of Earnings This Week
The coronavirus-stricken first-quarter 2020 earnings season has already completed its major part. The disappointing performance by U.S. corporates that started in the beginning of the reporting cycle is still continuing. Despite the negative earnings trend, a handful of stocks with a favorable Zacks Rank are poised to beat earnings estimates this week. We have selected the top six.
First-Quarter Earnings in Brief
As of May 8, 434 S&P 500 members reported first-quarter earnings results. Total earnings of these companies are down 10.6% from the same period last year on 1.1% higher revenues. Of the total, 67.7% surpassed EPS estimates and 58.3% outpaced revenue estimates. Overall, first-quarter earnings for the S&P 500 Index were projected to be down 12.8% year over year on 1.3% higher revenues. This is in sharp contrast to 4% earnings growth expected in early January. (Read More: Is Wall Street Oblivious of Main Street Pain?)
Our Top Picks
We have narrowed down our search to six stocks that will release earnings results this week. Each of these stocks carries either a Zacks Rank #1 (Strong Buy) or 2 (Buy) and has a positive Earnings ESP. You can see the complete list of today’s Zacks #1 Rank stocks here.
Our research shows that for stocks with the combination of a Zacks Rank #3 or better and a positive Earnings ESP, the chance of an earnings beat is as high as 70%. These stocks are expected to soar after earnings release. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Logitech International S.A. designs, manufactures and markets products that allow people to connect through music, gaming, video, computing and other digital platforms worldwide. The Zacks Rank # 1 company has an Earnings ESP of +8.33% for the fourth quarter of fiscal 2020.
Logitech International has an expected earnings growth rate of 7.6% for the current year (ending March 2021). The Zacks Consensus Estimate for current-year earnings has improved 3.7% over the last 30 days. It has a trailing four-quarter positive earnings surprise of 9.2%, on average. The company is set to release earnings results on May 11, after the closing bell.
Grocery Outlet Holding Corp.owns and operates a chain of grocery stores primarily in the United States. It offers products such as grocery, dairy and deli, produce, refrigerated and frozen, floral, beer and wine, general merchandise as well as fresh meat and seafood and natural, organic, specialty and healthy products. The Zacks Rank #1 company has an Earnings ESP of +33.33% for first-quarter 2020.
Grocery Outlet has an expected earnings growth rate of 15.2% for the current year. The Zacks Consensus Estimate for current-year earnings has improved 2.2% over the last 30 days. It has a trailing four-quarter positive earnings surprise of 31.1%, on average. The company is set to release earnings results on May 11, after the closing bell.
GFL Environmental Inc.offers non-hazardous solid waste management, infrastructure & soil remediation and liquid waste management services in North America. The Zacks Rank # 2 company has an Earnings ESP of +16.19% for first-quarter 2020. The Zacks Consensus Estimate for current-year earnings has improved 1.3% over the last 30 days. The company is set to release earnings results on May 11, after the closing bell.
Health Catalyst Inc.provides data and analytics technology and services to healthcare organizations primarily in the United States. It operates through two segments, Technology and Professional services. The Zacks Rank #1 company has an Earnings ESP of +7.26% for first-quarter 2020.
Health Catalyst has an expected earnings growth rate of 6.5% for the current year. The Zacks Consensus Estimate for current-year earnings has improved 1.2% over the last 30 days. It has a trailing four-quarter positive earnings surprise of 31%, on average. The company is set to release earnings results on May 12, after the closing bell.
Viela Bio Inc.is a clinical-stage biotechnology company engaged in the research and development of treatments for severe inflammation and autoimmune diseases in the United States. The Zacks Rank #2 company has an Earnings ESP of +13.04% for first-quarter 2020.
Viela Bio has an expected earnings growth rate of 58.1% for the current year. The Zacks Consensus Estimate for current-year earnings has improved 0.7% over the last 30 days. The company is set to release earnings results on May 13, after the closing bell.
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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.
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Logitech International SA (LOGI) : Free Stock Analysis Report
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Health Catalyst Inc (HCAT) : Free Stock Analysis Report
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