Welcome to Extreme Investor Network, where we bring you the latest insights and analysis on the world of investing. Today, we are diving into the upcoming earnings season and highlighting some companies that have the potential to see a post-earnings boost in their stock prices.
As the second-quarter earnings season kicks into high gear, we are seeing a positive trend emerge. According to FactSet data, 80% of the companies in the S & P 500 that have reported earnings so far have exceeded analyst expectations. Additionally, FactSet predicts a year-over-year earnings growth rate of 9.3% for the S & P 500 in the second quarter, the highest rate in over two years.
At Extreme Investor Network, we have screened FactSet data to identify potential opportunities for investors. We have identified several S & P 500 companies that meet specific criteria, including significant upward earnings per share estimate revisions, consensus earnings per share estimates up at least 10% in the past three months, and an average analyst price target up at least 5% in the past three months.
One company that stands out is Royal Caribbean. Analysts have raised their earnings estimates for the cruise operator, citing accelerating market share gains and a differentiated product offering. Another potential winner is Seagate Technology, a data storage firm that has seen its stock rally in 2024. Bank of America remains bullish on Seagate, predicting further upside potential.
Deckers Outdoor is another company to watch as it prepares to release its fiscal first-quarter earnings. Analysts have raised their earnings estimates for Deckers, and the stock has seen significant gains in 2024. UBS reiterates its buy rating on Deckers, pointing to positive revenue momentum from its Hoka brand.
As we head into earnings season, keep an eye on these companies for potential investment opportunities. For more exclusive insights and analysis, be sure to stay tuned to Extreme Investor Network. Happy investing!