Welcome to Extreme Investor Network, where we provide you with exclusive insights and analysis on the latest trends in the world of investing. Today, we dive into the first quarter earnings season and highlight some companies that analysts are bullish on heading into their upcoming reports.
As more than 35 S&P 500 companies have already reported their quarterly results this week, including industry giants like Netflix and American Express, we have seen a mixed bag of outcomes. While over 73% of companies have beaten expectations, the overall blended earnings growth rate is just 0.16%, falling short of the expected 3% growth.
However, there are some stocks reporting next week that are poised to outperform. CNBC Pro screened FactSet data and identified companies meeting specific criteria, such as having their earnings per share estimates up 10% in the past three and six months, as well as an average analyst price target up 10% or more in the same period.
One such company on the radar is Meta Platforms, whose shares have surged over 40% in 2024. Analysts have revised their earnings estimates by more than 18% over the past three months and now forecast first-quarter earnings of $4.31 per share. Meta’s strength is driven by higher revenue from advertising on Instagram and its AI push, which includes integrating Meta AI into various platforms.
Another company to watch is GE Aerospace, which has seen its earnings forecasts increased by nearly 18% over the past three months. Analysts are optimistic about the company’s potential for growth in after-market sales, with shares climbing over 49% in 2024.
In addition to Meta Platforms and GE Aerospace, other stocks that analysts have raised earnings estimates on include T. Rowe Price and Seagate Technology. These companies are worth keeping an eye on as they prepare to release their first-quarter results in the coming days.
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