Steel Dynamics
The steel industry is rarely for the faint of heart. As the Q4 earnings approach, investors have their eyes keenly set on the performance of top-ranked Zacks stock, Steel Dynamics. A strong buy with a Zacks Rank #1, the company has been turning heads with its undervalued shares. Steel Dynamics has seen an impressive surge in Q4 EPS estimates, indicating a possibility of undervaluation. Despite a projected natural contraction in bottom line figures, it is hard to ignore the soaring 18% increase in Q4 EPS estimates in the last 60 days. Furthermore, annual earnings estimates for fiscal 2023 and FY24 have been on the rise, painting a promising picture for the company’s future outlook.
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Netflix
With Netflix no longer providing subscriber growth outlooks, investors are now pivoting towards the company’s financial performance. A Zacks Rank #2 (Buy) paints a positive outlook, especially with projected substantial quarterly growth. Quarter 4 EPS is expected to soar to $2.20 per share from $0.12 per share in the previous year, with sales projected to rise by 11% to $8.72 billion. Fiscal 2023 shows annual earnings are expected to be up by 22%, and FY24 EPS estimates are forecasted to expand by 32%. These robust projections are accompanied by a 6% growth in FY23 and a 14% increase in total sales for the year.
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General Electric
Multi-sector conglomerate General Electric has been turning heads with its extensive reach, sustaining the company’s bottom line. Despite projected Q4 earnings decline, annual earnings are expected to show an upward trajectory, with FY24 EPS forecasted to soar by 69%. General Electric’s track record of surpassing earnings expectations for four consecutive quarters is no small feat, with an average earnings surprise of 53.42%. It’s worth keeping an eye on this resilient industrial giant.
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Bottom Line
As the Q4 results approach, investors are advised to keep a watchful eye on Steel Dynamics, Netflix, and General Electric. The performance of these stocks as they approach earnings season may set the stage for potentially lucrative opportunities. It’s a roller-coaster ride in the stock market, and these stocks could be in for a thrilling upswing should they deliver favorable Q4 results and offer promising financial guidance.