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The Zacks Analyst Blog Highlights Brinker International, Granite Construction, Royal Caribbean Cruises, Eaton and AZZ
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For Immediate Release
Chicago, IL – December 20, 2023 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Brinker International (EAT - Free Report) , Granite Construction (GVA - Free Report) , Royal Caribbean Cruises (RCL - Free Report) , Eaton (ETN - Free Report) and AZZ (AZZ - Free Report) .
Here are highlights from Tuesday’s Analyst Blog:
5 Top Growth Stocks for the Presidential Election Year 2024
Despite many bottlenecks, 2023 has been impressive for the stock market. While the broader S&P 500 has soared 20.8% this year, the tech-laden Nasdaq has shot up 37%. Surprisingly, solid consumer outlays amid elevated inflation and interest rate hikes helped the economy expand, while the AI boom propelled tech stocks northward. The labor market remained resilient and squashed any expectations of an imminent recession.
Heading into 2024, stretched valuations, geopolitical surprises, and most importantly, the outcome of the presidential election may likely create gyrations in the stock market. After all, senior citizens, in particular, may be concerned about the outcome of the election and its impact on the stock market vis-a-vis their retirement savings.
However, traditionally, presidential election years have always been good for the stock market. From 1937 to 2022, the S&P 500 in non-election years may have given an average annual return of 12.5%. Still, in election years, the return has also been encouraging 9.9%, according to research by Janus Henderson Investors. Thus, the stock market has successfully weathered political changeovers and provided handsome returns.
Record highs for major bourses are also in the cards for 2024, banking on the prospects of multiple interest rate cuts. The Federal Reserve has kept interest rates unchanged in its latest policy meeting and hinted at three rate cuts next year. The Fed acknowledged that inflationary pressures have started to show signs of cooling down amid sturdy economic growth.
The Fed officials are now projecting 0.75% points worth of rate cuts in 2024, which is a quarter point more than they predicted in September. Moreover, Fed officials expect another full percentage point rate cut in 2025. Now, lower borrowing costs will certainly help businesses to expand, increase consumer spending, boost economic growth, and help the stock market scale upward.
With things looking up for Wall Street in 2024 amid the Fed’s dovish stance and positive seasonal trends, placing bets on sound growth stocks like Brinker International, Granite Construction, Royal Caribbean Cruises, Eaton and AZZ seems judicious.
Brinker International primarily owns, operates, develops and franchises various restaurants. Brinker International currently has a Zacks Rank #1 and a Growth Score of A.
The Zacks Consensus Estimate for its current-year earnings has moved up 7.9% over the past 60 days. EAT’s expected earnings growth rate for the current and next year are 26.2% and 9.5%, respectively.
Granite Construction is one of the nation’s largest infrastructure contractors and construction materials producers. Granite Construction currently has a Zacks Rank #1 and a Growth Score of B.
The Zacks Consensus Estimate for its current-year earnings has moved up 9.9% over the past 60 days. GVA’s expected earnings growth rate for the current and next year are 35.1% and 37.5%, respectively.
Royal Caribbean Cruises is a cruise company. Royal Caribbean Cruises currently has a Zacks Rank #1 and a Growth Score of B.
The Zacks Consensus Estimate for its current-year earnings has moved up 7.9% over the past 60 days. RCL’s expected earnings growth rate for the current and next year are 187.9% and 38.1%, respectively.
Eaton is a diversified power management company. Eaton currently has a Zacks Rank #2 and a Growth Score of B.
The Zacks Consensus Estimate for its current-year earnings has moved up 2.4% over the past 60 days. ETN’s expected earnings growth rate for the current and next year are 19.2% and 10.5%, respectively.
AZZis a leading provider of metal finishing solutions for corrosion protection. AZZ currently has a Zacks Rank #2 and a Growth Score of B.
The Zacks Consensus Estimate for its current-year earnings has moved up 0.5% over the past 60 days. AZZ’s expected earnings growth rate for the current and next year are 17.8% and 8.1%, respectively.
Why Haven’t You Looked at Zacks' Top Stocks?
Since 2000, our top stock-picking strategies have blown away the S&P's +6.2 average gain per year. Amazingly, they soared with average gains of +46.4%, +49.5% and +55.2% per year. Today you can access their live picks without cost or obligation.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
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The Zacks Analyst Blog Highlights Brinker International, Granite Construction, Royal Caribbean Cruises, Eaton and AZZ
For Immediate Release
Chicago, IL – December 20, 2023 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Brinker International (EAT - Free Report) , Granite Construction (GVA - Free Report) , Royal Caribbean Cruises (RCL - Free Report) , Eaton (ETN - Free Report) and AZZ (AZZ - Free Report) .
Here are highlights from Tuesday’s Analyst Blog:
5 Top Growth Stocks for the Presidential Election Year 2024
Despite many bottlenecks, 2023 has been impressive for the stock market. While the broader S&P 500 has soared 20.8% this year, the tech-laden Nasdaq has shot up 37%. Surprisingly, solid consumer outlays amid elevated inflation and interest rate hikes helped the economy expand, while the AI boom propelled tech stocks northward. The labor market remained resilient and squashed any expectations of an imminent recession.
Heading into 2024, stretched valuations, geopolitical surprises, and most importantly, the outcome of the presidential election may likely create gyrations in the stock market. After all, senior citizens, in particular, may be concerned about the outcome of the election and its impact on the stock market vis-a-vis their retirement savings.
However, traditionally, presidential election years have always been good for the stock market. From 1937 to 2022, the S&P 500 in non-election years may have given an average annual return of 12.5%. Still, in election years, the return has also been encouraging 9.9%, according to research by Janus Henderson Investors. Thus, the stock market has successfully weathered political changeovers and provided handsome returns.
Record highs for major bourses are also in the cards for 2024, banking on the prospects of multiple interest rate cuts. The Federal Reserve has kept interest rates unchanged in its latest policy meeting and hinted at three rate cuts next year. The Fed acknowledged that inflationary pressures have started to show signs of cooling down amid sturdy economic growth.
The Fed officials are now projecting 0.75% points worth of rate cuts in 2024, which is a quarter point more than they predicted in September. Moreover, Fed officials expect another full percentage point rate cut in 2025. Now, lower borrowing costs will certainly help businesses to expand, increase consumer spending, boost economic growth, and help the stock market scale upward.
With things looking up for Wall Street in 2024 amid the Fed’s dovish stance and positive seasonal trends, placing bets on sound growth stocks like Brinker International, Granite Construction, Royal Caribbean Cruises, Eaton and AZZ seems judicious.
These stocks carry a Zacks Rank #1 (Strong Buy) or 2 (Buy) and a Growth Score of A or B, a combination that offers the best opportunities in the growth investing space. You can see the complete list of today’s Zacks Rank #1 stocks here.
Brinker International primarily owns, operates, develops and franchises various restaurants. Brinker International currently has a Zacks Rank #1 and a Growth Score of A.
The Zacks Consensus Estimate for its current-year earnings has moved up 7.9% over the past 60 days. EAT’s expected earnings growth rate for the current and next year are 26.2% and 9.5%, respectively.
Granite Construction is one of the nation’s largest infrastructure contractors and construction materials producers. Granite Construction currently has a Zacks Rank #1 and a Growth Score of B.
The Zacks Consensus Estimate for its current-year earnings has moved up 9.9% over the past 60 days. GVA’s expected earnings growth rate for the current and next year are 35.1% and 37.5%, respectively.
Royal Caribbean Cruises is a cruise company. Royal Caribbean Cruises currently has a Zacks Rank #1 and a Growth Score of B.
The Zacks Consensus Estimate for its current-year earnings has moved up 7.9% over the past 60 days. RCL’s expected earnings growth rate for the current and next year are 187.9% and 38.1%, respectively.
Eaton is a diversified power management company. Eaton currently has a Zacks Rank #2 and a Growth Score of B.
The Zacks Consensus Estimate for its current-year earnings has moved up 2.4% over the past 60 days. ETN’s expected earnings growth rate for the current and next year are 19.2% and 10.5%, respectively.
AZZis a leading provider of metal finishing solutions for corrosion protection. AZZ currently has a Zacks Rank #2 and a Growth Score of B.
The Zacks Consensus Estimate for its current-year earnings has moved up 0.5% over the past 60 days. AZZ’s expected earnings growth rate for the current and next year are 17.8% and 8.1%, respectively.
Why Haven’t You Looked at Zacks' Top Stocks?
Since 2000, our top stock-picking strategies have blown away the S&P's +6.2 average gain per year. Amazingly, they soared with average gains of +46.4%, +49.5% and +55.2% per year. Today you can access their live picks without cost or obligation.
See Stocks Free >>
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.