3 Intriguing Stocks to Consider as Earrings Approach
With optimism springing in markets today on the back of the Fed leaving rates unchanged, several intriguing companies are set to report third quarter results on Friday, November 3 with now looking like a good time to buy their stocks.
Representing a variety of sectors, here is a look at three of these stocks to consider.
Cboe Global Markets CBOE
Out of the Zacks Finance sector, Cboe Global Markets' stock is worthy of consideration ahead of its third quarter report as one of the nation's largest stock exchange operations by volume.
Cboe’s Q3 earnings are expected to rise 7% to $1.96 per share with sales projected at $481.33 million and up 9% from the prior year quarter.
Furthermore, Cboe’s stock has soared +32% this year with annual earnings forecasted to be up 7% in fiscal 2023 and rise another 4% in FY24 to $7.71 per share.
Image Source: Zacks Investment Research
Koppers KOP
Standing out among the Zacks Basic Materials sector is Koppers Holdings which provides treated wood products, wood treatment chemicals, and carbon compounds.
Notably, Koppers stock has also climbed +32 YTD with its Q3 earnings forecasted to rise 7% to $1.27 per share and sales anticipated at $555.50 million which would be a 3% increase from a year ago. Kopper's annual earnings are now expected to rise 7% this year and jump another 6% in FY24 to $4.73 per share.
More intriguing, considering Koppers’ steady growth shares of KOP trade very attractively at 8.2X forward earnings which is a nice discount to its industry average of 14.4X and well below the S&P 500’s 19.9X.
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Sempra Energy SRE
Despite being down -7% YTD, Sempra Energy is one of the more appealing Zacks Utilities sector stocks at the moment providing electricity and natural gas primarily in California and Texas.
Sempra’s stock is making the case for being oversold with Q3 earnings projected to be up 2% YoY to $1.01 per share. Plus, Q3 sales are forecasted at $3.84 billion which would be a 6% increase from the prior year quarter.
While Sempra’s FY23 earnings are now expected to dip -2% at $4.51 a share fiscal 2024 EPS is forecasted to rebound and rise 6% to $4.78 per share. Further suggesting this year's dip in SRE may be a buying opportunity is that Sempra offers a generous 3.36% annual dividend yield to support patient investors.
Image Source: Zacks Investment Research
Takeaway
Investors are anxious for more upside in the stock market after today’s rally and Cboe, Koppers, and Sempra Energy's stock may be able to deliver heading into their third-quarter reports with all three landing a Zacks Rank #2 (Buy).
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See This Stock Now for Free >>Sempra Energy (SRE) : Free Stock Analysis Report
Cboe Global Markets, Inc. (CBOE) : Free Stock Analysis Report
Koppers Holdings Inc. (KOP) : Free Stock Analysis Report
