For Immediate Release
Chicago, IL – December 29, 2022 – Stocks in this week’s article are Halozyme Therapeutics
HALO
, Arista Networks
ANET
and Citizens Financial Group
CFG
.
3 Stocks to Keep an Eye On for Earnings Growth in 2023
Regardless of whether it is a start-up or a well-known company, earnings growth is the top-most priority for any organization. This is because if the company doesn’t make money, it won’t last in the long run.
So, what’s earnings growth? Study a company’s revenues over a given period of time, subtract the cost of production, and you have earnings. By the way, this is also considered the most important variable influencing share price. But, expectations of earnings play a noteworthy role.
Earnings Estimates & Share Price Movements
Frequently, we have seen a decline in the stock price despite earnings growth and a rally in price following an earnings decline. This is largely the result of a company’s earnings failing to meet market expectations.
Earnings estimates embody analysts’ opinion on factors such as sales growth, product demand, competitive industry environment, profit margins and cost control. Thus, earnings estimates serve as a valuable tool, while making investment decisions. Earnings estimates also help analysts assess the cash flow to determine the fair value of a firm.
Investors, thus, should be on the lookout for stocks that are ready to make a big move. Hence, investors need to buy stocks with historical earnings growth that are seeing a rise in quarterly and annual earnings estimates.
The above criteria narrowed down the universe of around 7,839 stocks to only three. Here are the stocks:
Halozyme Therapeutics
is a biopharmaceutical company, focused on the development and commercialization of novel treatments for oncology indications by targeting tumor microenvironment. HALO’s expected earnings growth rate for next year is 38.2%. Halozyme Therapeutics has a Zacks Rank #3 (Hold). You can see
the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here
.
Arista Networks
is engaged in providing cloud networking solutions for data centers and cloud computing environments. Arista Networks has a Zacks Rank #1. ANET’s expected earnings growth rate for next year is 18.8%.
Citizens Financial Group
is one of the largest retail banks’ holding companies in the United States. Citizens Financial Group has a Zacks Rank #2. CFG’s expected earnings growth rate for next year is 19.9%.
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For the rest of this Screen of the Week article please visit Zacks.com at:
https://www.zacks.com/stock/news/2032872/3-stocks-to-keep-an-eye-on-for-earnings-growth-in-2023
Disclosure: Officers, directors and/or employees of Zacks Investment Research may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material. An affiliated investment advisory firm may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material.
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