Welcome to Extreme Investor Network, where we provide you with expert insights and analysis on the latest investment opportunities. Today, we are highlighting several companies that are due to report earnings next week and could potentially see a boost in their stock prices.
According to FactSet data, third-quarter earnings have been exceeding analysts’ expectations, with 79% of companies in the S & P 500 index reporting a positive earnings surprise and 64% reporting a positive revenue surprise. As 22% of S & P 500 companies are expected to report their financial results next week, it’s important to identify which ones have strong earnings momentum and are liked by analysts.
Our team at CNBC Pro conducted a thorough screening of companies reporting in the coming days that meet specific criteria, including at least 10 upward earnings estimate revisions in the past three months, consensus earnings estimates rising at least 5% over the past three- and six months, and an average analyst price target climbing 10% or more in the past three months.
One company that stood out in our screening process is Seagate Technology, with consensus earnings estimates rising approximately 54% over the past six months. Analysts, like Morgan Stanley’s Erik Woodring, are optimistic about Seagate’s potential, with an overweight rating and a $133 price target, implying roughly 19% potential upside for the stock.
In the healthcare sector, Universal Health Services and HCA Healthcare have also seen improved sentiment, with analysts raising their consensus estimates on both companies. TD Cowen recently raised its price targets on HCA and UHS, highlighting the potential for near-term boosts from higher state-directed Medicaid payments.
As we approach earnings season, it’s essential to stay informed and analyze companies with strong earnings momentum and analyst support. Stay tuned for more updates and insights from Extreme Investor Network as we continue to uncover investment opportunities for our readers.