Another Big Day for the Markets: Nasdaq +3%

This story originally appeared on Zacks

Market indexes continue to dig out from recent lows sustained the day after Thanksgiving — two weeks ago this Friday — and through much of last week. Further evidence on the Omicron variant of the Covid-19 coronavirus is that, while highly transmissible, is no more serious a strain than the Delta variant — and perhaps even less so. Meanwhile, late Q4 shopping season is in full gear, which is traditionally a strong environment for stocks.Thus, the Dow was up another +1.40% in Tuesday trading, up +492 points. The S&P 500 did one better, posting gains of +2.07%, +95 points, while the Nasdaq took the day once again: +3.03%, +461 points, even though it is the only major index to still be trading down over the last five sessions. The Russell 2000 grew +1.95% on the day; the small-cap index is still down -7.8% over the last month. Leading the way from this time last month is the S&P 500, just -0.32% from this time in November.These indexes still look good for 2021 overall: led by the S&P +26.65% since the first of the year, and directly between the full-year performance numbers of +31.5% in 2019 and +18.4% last year. This is followed by the tech-heavy Nasdaq, +23.5%, and the +18.2% accrued on the Dow year to date. The Russell remains the laggard, +15.8% from the earliest trading days of 2021.It made sense that investors, upon the discovery of the new Omicron variant in South Africa a couple weeks back, did not want to be caught holding onto record-high indexes with a new Covid strain that may have been worse than even the deadly Delta variant. But once trading firms recognized they were in oversold territory — and the initial data on Omicron wasn’t as bad as feared — market participants have bought back in in a hurry. It’s not your typical Santa Claus Rally, but we’ll take it.We’re quiet on the economic and earnings front as well, this week. Some data on Job Openings (and Job Quits) come out tomorrow morning after the opening bell, and GameStop GME reports Q3 earnings after Wednesday’s close. The “meme stock” poster child is up +930% year to date, including another +6.4% in Tuesday’s regular session. The Zacks consensus expects -22 cents per share reported on $1.3 billion in quarterly sales. These figures would represent year-over-year gains of +58.5% and +29.7%, respectively.Questions or comments about this article and/or its author? Click here > >

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Las Vegas Sands (LVS) Gains But Lags Market: What You Should Know

This story originally appeared on Zacks

Las Vegas Sands (LVS) closed at $37.07 in the latest trading session, marking a +0.9% move from the prior day. This change lagged the S&P 500’s 2.07% gain on the day. At the same time, the Dow added 1.4%, and the tech-heavy Nasdaq gained 0.49%.

Coming into today, shares of the casino operator had lost 11.62% in the past month. In that same time, the Consumer Discretionary sector lost 7.39%, while the S&P 500 lost 2.08%.Investors will be hoping for strength from Las Vegas Sands as it approaches its next earnings release. In that report, analysts expect Las Vegas Sands to post earnings of -$0.21 per share. This would mark year-over-year growth of 43.24%. Meanwhile, our latest consensus estimate is calling for revenue of $1.04 billion, down 9.4% from the prior-year quarter.Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$1.18 per share and revenue of $4.43 billion. These totals would mark changes of +44.34% and +22.68%, respectively, from last year.Investors might also notice recent changes to analyst estimates for Las Vegas Sands. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company’s business and profitability.Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Las Vegas Sands currently has a Zacks Rank of #3 (Hold).The Gaming industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 169, putting it in the bottom 34% of all 250+ industries.The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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United Airlines (UAL) Stock Sinks As Market Gains: What You Should Know

This story originally appeared on Zacks

United Airlines (UAL) closed the most recent trading day at $43.41, moving -1.32% from the previous trading session. This move lagged the S&P 500’s daily gain of 2.07%. Meanwhile, the Dow gained 1.4%, and the Nasdaq, a tech-heavy index, added 0.49%.

Heading into today, shares of the airline had lost 17.17% over the past month, lagging the Transportation sector’s loss of 3.19% and the S&P 500’s loss of 2.08% in that time.Investors will be hoping for strength from United Airlines as it approaches its next earnings release. On that day, United Airlines is projected to report earnings of -$2.12 per share, which would represent year-over-year growth of 69.71%. Our most recent consensus estimate is calling for quarterly revenue of $7.96 billion, up 133.15% from the year-ago period.For the full year, our Zacks Consensus Estimates are projecting earnings of -$14.43 per share and revenue of $24.43 billion, which would represent changes of +47.66% and +59.08%, respectively, from the prior year.It is also important to note the recent changes to analyst estimates for United Airlines. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company’s business outlook.Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.05% higher. United Airlines is currently a Zacks Rank #3 (Hold).The Transportation – Airline industry is part of the Transportation sector. This group has a Zacks Industry Rank of 235, putting it in the bottom 8% of all 250+ industries.The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.To follow UAL in the coming trading sessions, be sure to utilize Zacks.com.
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The only question is “Will you get into the right stocks early when their growth potential is greatest?”
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Southwest Airlines (LUV) Stock Sinks As Market Gains: What You Should Know

This story originally appeared on Zacks

Southwest Airlines (LUV) closed the most recent trading day at $45.21, moving -0.77% from the previous trading session. This move lagged the S&P 500’s daily gain of 2.07%. Meanwhile, the Dow gained 1.4%, and the Nasdaq, a tech-heavy index, added 0.49%.

Heading into today, shares of the airline had lost 11.31% over the past month, lagging the Transportation sector’s loss of 3.19% and the S&P 500’s loss of 2.08% in that time.Investors will be hoping for strength from Southwest Airlines as it approaches its next earnings release. On that day, Southwest Airlines is projected to report earnings of -$0.39 per share, which would represent year-over-year growth of 69.77%. Our most recent consensus estimate is calling for quarterly revenue of $4.72 billion, up 134.49% from the year-ago period.For the full year, our Zacks Consensus Estimates are projecting earnings of -$2.64 per share and revenue of $15.37 billion, which would represent changes of +57.56% and +69.83%, respectively, from the prior year.It is also important to note the recent changes to analyst estimates for Southwest Airlines. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company’s business outlook.Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Southwest Airlines is currently a Zacks Rank #3 (Hold).The Transportation – Airline industry is part of the Transportation sector. This group has a Zacks Industry Rank of 235, putting it in the bottom 8% of all 250+ industries.The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.To follow LUV in the coming trading sessions, be sure to utilize Zacks.com.
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A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made.
The only question is “Will you get into the right stocks early when their growth potential is greatest?”
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Darden Restaurants (DRI) Gains But Lags Market: What You Should Know

This story originally appeared on Zacks

Darden Restaurants (DRI) closed at $148.12 in the latest trading session, marking a +1.01% move from the prior day. This change lagged the S&P 500’s 2.07% gain on the day. Meanwhile, the Dow gained 1.4%, and the Nasdaq, a tech-heavy index, added 0.49%.

Prior to today’s trading, shares of the owner of Olive Garden and other chain restaurants had lost 4.39% over the past month. This has was narrower than the Retail-Wholesale sector’s loss of 4.8% and lagged the S&P 500’s loss of 2.08% in that time.Darden Restaurants will be looking to display strength as it nears its next earnings release, which is expected to be December 17, 2021. The company is expected to report EPS of $1.43, up 93.24% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.22 billion, up 34.17% from the year-ago period.Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $7.62 per share and revenue of $9.54 billion. These totals would mark changes of +76.8% and +32.54%, respectively, from last year.Investors might also notice recent changes to analyst estimates for Darden Restaurants. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company’s business outlook.Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.23% higher. Darden Restaurants is currently a Zacks Rank #3 (Hold).Digging into valuation, Darden Restaurants currently has a Forward P/E ratio of 19.24. This valuation marks a discount compared to its industry’s average Forward P/E of 23.92.Investors should also note that DRI has a PEG ratio of 1.92 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company’s expected earnings growth rate into account. The Retail – Restaurants was holding an average PEG ratio of 1.96 at yesterday’s closing price.The Retail – Restaurants industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 241, which puts it in the bottom 6% of all 250+ industries.The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.You can find more information on all of these metrics, and much more, on Zacks.com.
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A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made.
The only question is “Will you get into the right stocks early when their growth potential is greatest?”
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Archer Daniels Midland (ADM) Gains But Lags Market: What You Should Know

This story originally appeared on Zacks

Archer Daniels Midland (ADM) closed at $64.16 in the latest trading session, marking a +1.66% move from the prior day. This change lagged the S&P 500’s 2.07% gain on the day. At the same time, the Dow added 1.4%, and the tech-heavy Nasdaq gained 0.49%.

Coming into today, shares of the agribusiness giant had lost 1.08% in the past month. In that same time, the Consumer Staples sector lost 1.75%, while the S&P 500 lost 2.08%.Wall Street will be looking for positivity from Archer Daniels Midland as it approaches its next earnings report date. In that report, analysts expect Archer Daniels Midland to post earnings of $1.19 per share. This would mark a year-over-year decline of 1.65%. Our most recent consensus estimate is calling for quarterly revenue of $19.88 billion, up 10.57% from the year-ago period.Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.87 per share and revenue of $82.52 billion. These totals would mark changes of +35.65% and +28.22%, respectively, from last year.Any recent changes to analyst estimates for Archer Daniels Midland should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company’s business outlook.Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.12% higher. Archer Daniels Midland is holding a Zacks Rank of #3 (Hold) right now.Valuation is also important, so investors should note that Archer Daniels Midland has a Forward P/E ratio of 12.95 right now. This valuation marks a discount compared to its industry’s average Forward P/E of 22.17.Also, we should mention that ADM has a PEG ratio of 1.5. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company’s expected earnings growth rate. The Agriculture – Operations was holding an average PEG ratio of 1.5 at yesterday’s closing price.The Agriculture – Operations industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 90, putting it in the top 36% of all 250+ industries.The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made.
The only question is “Will you get into the right stocks early when their growth potential is greatest?”
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CSX (CSX) Gains But Lags Market: What You Should Know

This story originally appeared on Zacks

CSX (CSX) closed at $37.09 in the latest trading session, marking a +0.9% move from the prior day. This change lagged the S&P 500’s 2.07% gain on the day. At the same time, the Dow added 1.4%, and the tech-heavy Nasdaq gained 0.49%.

Coming into today, shares of the freight railroad had gained 3.64% in the past month. In that same time, the Transportation sector lost 3.19%, while the S&P 500 lost 2.08%.Wall Street will be looking for positivity from CSX as it approaches its next earnings report date. In that report, analysts expect CSX to post earnings of $0.42 per share. This would mark year-over-year growth of 20%. Our most recent consensus estimate is calling for quarterly revenue of $3.35 billion, up 18.66% from the year-ago period.Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.56 per share and revenue of $12.43 billion. These totals would mark changes of +27.87% and +17.44%, respectively, from last year.Any recent changes to analyst estimates for CSX should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company’s business outlook.Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. CSX is holding a Zacks Rank of #3 (Hold) right now.Valuation is also important, so investors should note that CSX has a Forward P/E ratio of 23.56 right now. This valuation marks a discount compared to its industry’s average Forward P/E of 24.23.Also, we should mention that CSX has a PEG ratio of 1.97. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company’s expected earnings growth rate. The Transportation – Rail was holding an average PEG ratio of 2.22 at yesterday’s closing price.The Transportation – Rail industry is part of the Transportation sector. This group has a Zacks Industry Rank of 235, putting it in the bottom 8% of all 250+ industries.The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
Infrastructure Stock Boom to Sweep America
A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made.
The only question is “Will you get into the right stocks early when their growth potential is greatest?”
Zacks has released a Special Report to help you do just that, and today it’s free. Discover 7 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.Download FREE: How to Profit from Trillions on Spending for Infrastructure > >Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report CSX Corporation (CSX): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research

Constellation Brands (STZ) Gains But Lags Market: What You Should Know

This story originally appeared on Zacks

In the latest trading session, Constellation Brands (STZ) closed at $233.83, marking a +1.28% move from the previous day. The stock lagged the S&P 500’s daily gain of 2.07%. At the same time, the Dow added 1.4%, and the tech-heavy Nasdaq gained 0.49%.

Coming into today, shares of the wine, liquor and beer company had gained 4.1% in the past month. In that same time, the Consumer Staples sector lost 1.75%, while the S&P 500 lost 2.08%.Constellation Brands will be looking to display strength as it nears its next earnings release, which is expected to be January 6, 2022. The company is expected to report EPS of $2.82, down 8.74% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $2.28 billion, down 6.5% from the year-ago period.STZ’s full-year Zacks Consensus Estimates are calling for earnings of $10 per share and revenue of $8.64 billion. These results would represent year-over-year changes of +0.3% and +0.34%, respectively.Investors might also notice recent changes to analyst estimates for Constellation Brands. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company’s business and profitability.Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Constellation Brands is currently sporting a Zacks Rank of #4 (Sell).In terms of valuation, Constellation Brands is currently trading at a Forward P/E ratio of 23.08. This represents a discount compared to its industry’s average Forward P/E of 25.41.Meanwhile, STZ’s PEG ratio is currently 3.07. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company’s expected earnings growth rate. The Beverages – Alcohol was holding an average PEG ratio of 2.14 at yesterday’s closing price.The Beverages – Alcohol industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 115, which puts it in the top 46% of all 250+ industries.The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.To follow STZ in the coming trading sessions, be sure to utilize Zacks.com.
Infrastructure Stock Boom to Sweep America
A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made.
The only question is “Will you get into the right stocks early when their growth potential is greatest?”
Zacks has released a Special Report to help you do just that, and today it’s free. Discover 7 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.Download FREE: How to Profit from Trillions on Spending for Infrastructure > >Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Constellation Brands Inc (STZ): Free Stock Analysis Report To read this article on Zacks.com click here.

ABM Industries (ABM) Stock Sinks As Market Gains: What You Should Know

This story originally appeared on Zacks

ABM Industries (ABM) closed the most recent trading day at $45.72, moving -1.36% from the previous trading session. This move lagged the S&P 500’s daily gain of 2.07%. Meanwhile, the Dow gained 1.4%, and the Nasdaq, a tech-heavy index, added 0.49%.

Heading into today, shares of the provider of cleaning and other maintenance services for commercial buildings, hospitals and airports had lost 2.99% over the past month, outpacing the Business Services sector’s loss of 6.94% and lagging the S&P 500’s loss of 2.08% in that time.Wall Street will be looking for positivity from ABM Industries as it approaches its next earnings report date. This is expected to be December 15, 2021. In that report, analysts expect ABM Industries to post earnings of $0.80 per share. This would mark year-over-year growth of 15.94%. Our most recent consensus estimate is calling for quarterly revenue of $1.62 billion, up 9.1% from the year-ago period.It is also important to note the recent changes to analyst estimates for ABM Industries. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company’s business and profitability.Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. ABM Industries currently has a Zacks Rank of #3 (Hold).Investors should also note ABM Industries’s current valuation metrics, including its Forward P/E ratio of 13.61. For comparison, its industry has an average Forward P/E of 13.61, which means ABM Industries is trading at a no noticeable deviation to the group.The Building Products – Maintenance Service industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 115, which puts it in the top 46% of all 250+ industries.The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.To follow ABM in the coming trading sessions, be sure to utilize Zacks.com.
Infrastructure Stock Boom to Sweep America
A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made.
The only question is “Will you get into the right stocks early when their growth potential is greatest?”
Zacks has released a Special Report to help you do just that, and today it’s free. Discover 7 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.Download FREE: How to Profit from Trillions on Spending for Infrastructure > >Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report ABM Industries Incorporated (ABM): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research

3M (MMM) Stock Sinks As Market Gains: What You Should Know

This story originally appeared on Zacks

3M (MMM) closed at $176.55 in the latest trading session, marking a -0.37% move from the prior day. This change lagged the S&P 500’s 2.07% gain on the day. Elsewhere, the Dow gained 1.4%, while the tech-heavy Nasdaq added 0.49%.

Prior to today’s trading, shares of the maker of Post-it notes, industrial coatings and ceramics had lost 2.39% over the past month. This has was narrower than the Conglomerates sector’s loss of 3.15% and lagged the S&P 500’s loss of 2.08% in that time.3M will be looking to display strength as it nears its next earnings release. In that report, analysts expect 3M to post earnings of $2.07 per share. This would mark a year-over-year decline of 13.03%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $8.66 billion, up 0.88% from the year-ago period.MMM’s full-year Zacks Consensus Estimates are calling for earnings of $9.87 per share and revenue of $35.35 billion. These results would represent year-over-year changes of +12.93% and +9.83%, respectively.Investors might also notice recent changes to analyst estimates for 3M. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company’s business outlook.Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. 3M is holding a Zacks Rank of #3 (Hold) right now.Looking at its valuation, 3M is holding a Forward P/E ratio of 17.95. This represents a no noticeable deviation compared to its industry’s average Forward P/E of 17.95.Meanwhile, MMM’s PEG ratio is currently 1.89. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company’s expected earnings growth rate. Diversified Operations stocks are, on average, holding a PEG ratio of 1.7 based on yesterday’s closing prices.The Diversified Operations industry is part of the Conglomerates sector. This group has a Zacks Industry Rank of 94, putting it in the top 38% of all 250+ industries.The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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