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Several top-rated Zacks stocks are standing out from a variety of sectors after posting strong quarterly results this week.
Able to exceed top and bottom line expectations on Wednesday, here are three of these intriguing companies to invest in as their stocks continue to outperform the broader market.
Among the retail sector, casual apparel retailer Abercrombie & Fitch continues to stand out in terms of growth and value. Abercrombie’s Q2 sales rose 21% to $1.13 billion which beat estimates of $1.08 billion by 4%.
More impressive, Q2 EPS of $2.50 soared 127% from $1.10 per share a year ago and comfortably exceeded expectations of $2.14 a share by 17%. Abercrombie has surpassed the Zacks EPS Consensus for six consecutive quarters posting a very impressive average earnings surprise of 27.99% in its last four quarterly reports.
Image Source: Zacks Investment Research
Astonishingly, Abercrombie’s stock has skyrocketed over +800% in the last two years to even outperform Nvidia (NVDA - Free Report) . Despite the incredible rally ANF still trades at 14.5X forward earnings and at a significant discount to the S&P 500’s 23.6X.
Enterprise storage and data management provider NetApp has become an appealing investment in the tech sector. Assisting in the management of multiple cloud environments, NetApp also helps enterprises with the adoption of next-generation technologies such as artificial intelligence.
Reporting results for its fiscal first quarter, NetApp’s Q1 sales increased 7% year over year to $1.54 billion and edged estimates of $1.53 billion. Even better, earnings of $1.56 per share beat expectations by 7% and climbed 35% from Q1 EPS of $1.15 in the comparative quarter.
Considering the high premium many innovative tech companies can command, NetApp trades at a reasonable 19.2X forward earnings multiple and has continued to reconfirm its steady expansion. To that point, NetApp has now reached or exceeded earnings expectations for 18 consecutive quarters and has also been one of the market's top performers in recent years with NTAP up nearly +40% year to date.
We’ll jump to the medical sector with The Cooper Companies, a provider of a wide range of contact lenses that are designed for solving vision challenges related to astigmatism, presbyopia, and ocular dryness.
Reporting results for its fiscal third quarter, Cooper’s Q3 sales of $1 billion rose 7% from the prior year quarter and eclipsed estimates of $997.16 million. Q3 EPS of $0.96 spiked 14% from a year ago and beat expectations of $0.91 a share by 5%. Expected to post double-digit EPS growth in fiscal 2024 and FY25, Cooper has reached or exceeded earnings expectations for seven consecutive quarters.
Attributed to its post-earnings spike, Cooper’s stock is up +11% YTD and has now risen over +40% in the last two years.
Image Source: Zacks Investment Research
Bottom Line
Abercrombie & Fitch, NetApp, and The Cooper Companies all sport a Zacks Rank #2 (Buy). Strong quarterly results suggest the impressive price performances of these top-rated stocks could continue as earnings estimate revisions are likely to remain higher.
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3 Top Performing Stocks to Buy After Earnings
Several top-rated Zacks stocks are standing out from a variety of sectors after posting strong quarterly results this week.
Able to exceed top and bottom line expectations on Wednesday, here are three of these intriguing companies to invest in as their stocks continue to outperform the broader market.
Abercrombie & Fitch (ANF - Free Report)
Among the retail sector, casual apparel retailer Abercrombie & Fitch continues to stand out in terms of growth and value. Abercrombie’s Q2 sales rose 21% to $1.13 billion which beat estimates of $1.08 billion by 4%.
More impressive, Q2 EPS of $2.50 soared 127% from $1.10 per share a year ago and comfortably exceeded expectations of $2.14 a share by 17%. Abercrombie has surpassed the Zacks EPS Consensus for six consecutive quarters posting a very impressive average earnings surprise of 27.99% in its last four quarterly reports.
Image Source: Zacks Investment Research
Astonishingly, Abercrombie’s stock has skyrocketed over +800% in the last two years to even outperform Nvidia (NVDA - Free Report) . Despite the incredible rally ANF still trades at 14.5X forward earnings and at a significant discount to the S&P 500’s 23.6X.
Image Source: Zacks Investment Research
NetApp (NTAP - Free Report)
Enterprise storage and data management provider NetApp has become an appealing investment in the tech sector. Assisting in the management of multiple cloud environments, NetApp also helps enterprises with the adoption of next-generation technologies such as artificial intelligence.
Reporting results for its fiscal first quarter, NetApp’s Q1 sales increased 7% year over year to $1.54 billion and edged estimates of $1.53 billion. Even better, earnings of $1.56 per share beat expectations by 7% and climbed 35% from Q1 EPS of $1.15 in the comparative quarter.
Considering the high premium many innovative tech companies can command, NetApp trades at a reasonable 19.2X forward earnings multiple and has continued to reconfirm its steady expansion. To that point, NetApp has now reached or exceeded earnings expectations for 18 consecutive quarters and has also been one of the market's top performers in recent years with NTAP up nearly +40% year to date.
Image Source: Zacks Investment Research
The Cooper Companies (COO - Free Report)
We’ll jump to the medical sector with The Cooper Companies, a provider of a wide range of contact lenses that are designed for solving vision challenges related to astigmatism, presbyopia, and ocular dryness.
Reporting results for its fiscal third quarter, Cooper’s Q3 sales of $1 billion rose 7% from the prior year quarter and eclipsed estimates of $997.16 million. Q3 EPS of $0.96 spiked 14% from a year ago and beat expectations of $0.91 a share by 5%. Expected to post double-digit EPS growth in fiscal 2024 and FY25, Cooper has reached or exceeded earnings expectations for seven consecutive quarters.
Attributed to its post-earnings spike, Cooper’s stock is up +11% YTD and has now risen over +40% in the last two years.
Image Source: Zacks Investment Research
Bottom Line
Abercrombie & Fitch, NetApp, and The Cooper Companies all sport a Zacks Rank #2 (Buy). Strong quarterly results suggest the impressive price performances of these top-rated stocks could continue as earnings estimate revisions are likely to remain higher.