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The stock market is clawing back from a rough 2022. Since October of last year, the bid has re-entered the fray. It’s led some serious bounces in many different industries. Looking at the YTD numbers about six weeks into this year, the Consumer Cyclical sector is already up 18.8%, while Technology is right behind it at 17.7%. However, there are other sectors like Utilities that are actually down on the year. That means that the “dart board” approach is not working.
One way to tilt the odds in your favor is by leaning on the strength of the Zacks Rank. Stocks in the good graces of our Zacks Rank have the strongest earnings trends. One such stock is today’s Bull of the Day, Sony (SONY - Free Report) .
Image Source: Zacks Investment Research
Sony Group Corporation designs, develops, produces, and sells electronic equipment, instruments, and devices for the consumer, professional, and industrial markets in Japan, the United States, Europe, China, the Asia-Pacific, and internationally. The company distributes software titles and add-on content through digital networks; network services related to game, video, and music content; and home and portable game consoles, packaged software, and peripheral devices. It also develops, produces, markets, and distributes recorded music; publishes music; and produces and distributes animation titles, game applications, and various services for music and visual products.
The reason for the favorable Zacks Rank is that over the last 30 days, two analysts have increased their earnings estimates for the current year and next year. The bullish moves have pushed up the current year Zacks Consensus Estimate from $5.27 to $5.49 while next year’s number is up from $5.81 to $6.07. That would represent a return to earnings growth next year. Current year growth numbers call for a 12.5% contraction in earnings this year on virtually unchanged year-over-year earnings.
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Bull of the Day: Sony (SONY)
The stock market is clawing back from a rough 2022. Since October of last year, the bid has re-entered the fray. It’s led some serious bounces in many different industries. Looking at the YTD numbers about six weeks into this year, the Consumer Cyclical sector is already up 18.8%, while Technology is right behind it at 17.7%. However, there are other sectors like Utilities that are actually down on the year. That means that the “dart board” approach is not working.
One way to tilt the odds in your favor is by leaning on the strength of the Zacks Rank. Stocks in the good graces of our Zacks Rank have the strongest earnings trends. One such stock is today’s Bull of the Day, Sony (SONY - Free Report) .
Image Source: Zacks Investment Research
Sony Group Corporation designs, develops, produces, and sells electronic equipment, instruments, and devices for the consumer, professional, and industrial markets in Japan, the United States, Europe, China, the Asia-Pacific, and internationally. The company distributes software titles and add-on content through digital networks; network services related to game, video, and music content; and home and portable game consoles, packaged software, and peripheral devices. It also develops, produces, markets, and distributes recorded music; publishes music; and produces and distributes animation titles, game applications, and various services for music and visual products.
The reason for the favorable Zacks Rank is that over the last 30 days, two analysts have increased their earnings estimates for the current year and next year. The bullish moves have pushed up the current year Zacks Consensus Estimate from $5.27 to $5.49 while next year’s number is up from $5.81 to $6.07. That would represent a return to earnings growth next year. Current year growth numbers call for a 12.5% contraction in earnings this year on virtually unchanged year-over-year earnings.