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Take the Zacks Approach to Beat the Markets: Philip Morris, IAMGOLD, Solventum in Focus
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All three major U.S. indexes closed last week in the red. The Nasdaq Composite, the S&P 500, and the Dow Jones Industrial Average declined 2.6%, 2.2% and 1.4%, respectively. September is well-known for seasonal weaknesses, and with it, recent soft economic reports have raised concerns about a recession.
The weak labor market data weighed on investors’ sentiment. Per the Job Openings and Labor Turnover Survey or JOLTS, the job openings in July have decreased to a 3.5-year low of 7.7 million, the lowest level since January 2021. According to the report published by the Institute of Supply Management, the manufacturing index was 47.2% in August. Any reading below 50 indicates a contraction in manufacturing activities.
Investors will try to get clues on the magnitude of an interest rate cut in the September policy meeting as doubts have surfaced over whether the Federal Reserve is behind the curve on interest rate cuts.
Regardless of market conditions, we, here at Zacks, provide investors with unbiased guidance on how to beat the market.
As usual, Zacks Research guided investors over the past three months with its time-tested methodologies. Given the prevailing market uncertainty, you may want to look at our feats to prepare better for your next action.
Here are some of our key achievements:
Philip Morris International and Skyward Specialty Insurance Following Zacks Rank Upgrade
Shares of Philip Morris International Inc. (PM - Free Report) have gained 19.8% (versus the S&P 500’s 2.9% decrease) since it was upgraded to a Zacks Rank #2 (Buy) on July 12.
Another stock, Skyward Specialty Insurance Group, Inc. (SKWD - Free Report) , which was upgraded to a Zacks Rank #1 (Strong Buy) on July 10, has returned 14.4% (versus the S&P 500’s 2.8% decrease) since then.
Zacks Rank, our short-term rating system, has earnings estimate revisions at its core. Empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
A hypothetical portfolio of Zacks Rank #1 stocks has returned +6.1% in the year-to-date period through April 1, 2024, vs. +11.3% for the S&P 500 index and +7.7% for the equal-weight version of the S&P 500 index.
This hypothetical portfolio returned +20.63% in 2023 vs. +24.83% for the S&P 500 index and +15% for the equal-weight S&P 500 index.
The portfolio of Zacks Rank #1 stocks is an equal-weight portfolio, while the S&P 500 index is a market-cap-weighted index that has been notably distorted by the concentrated performance of mega-cap stocks since October 2022.
The Zacks Model Portfolio — consisting of Zacks Rank #1 stocks — has outperformed the S&P index by more than 16 percentage points since 1988 (through April 1, 2024, the Zacks # 1 Rank stocks generated an annualized return of +27.6% since 1988 vs. +11.1% for the S&P 500 index).You can see the complete list of today’s Zacks Rank #1 stocks here >>>
Zacks Recommendation Upgrades IAMGOLD and S&T Bancorp
Shares of IAMGOLD Corporation (IAG - Free Report) and S&T Bancorp, Inc. (STBA - Free Report) have advanced 16.5% (versus the S&P 500’s 3.0% decrease) and 5.2%, respectively (versus the S&P 500’s 2.2% fall), since their Zacks Recommendation was upgraded to Outperform on July 18 and July 19, respectively.
While the Zacks Rank is our short-term rating system that is most effective over the one- to three-month holding horizon, the Zacks Recommendation aims to predict performance over the next 6 to 12 months. However, just like the Zacks Rank, the foundation for the Zacks Recommendation is trends in earnings estimate revisions.
The Zacks Recommendation classifies stocks into three groups — Outperform, Neutral and Underperform. While these recommendations are determined quantitatively, our analysts have the flexibility to override them for the 1100+ stocks they closely follow based on their better judgment of factors such as valuation, industry conditions and management effectiveness than the quantitative model.
To access our research reports with Zacks Recommendations for the 1100+ stocks we cover, click here>>>
Zacks Focus List Stocks CBRE, Solventum Shoot Up
Shares of CBRE Group, Inc. (CBRE - Free Report) , which belongs to the Zacks Focus List, have gained 30.7% over the past 12 weeks. The stock was added to the Focus List on March 13, 2017. Another Focus-List holding, Solventum Corporation (SOLV - Free Report) , which was added to the portfolio on April 1, 2024, has returned 21.3% over the past 12 weeks. The S&P 500 has advanced 0.9% over this period.
The Focus List portfolio returned +10.23% in 2024 Q1 vs. +10.56% for the S&P 500 index and +7.9% for the equal-weight S&P 500 index.
The 50-stock Zacks Focus List model portfolio returned +31.44% in 2023 vs. +26.28% for the S&P 500 index and +13.61% for the equal-weight S&P 500 index. In 2022, the portfolio produced -15.2% vs. the S&P 500 index’s -17.96%.
Since 2004, the Focus List portfolio has produced an annualized return of +11.91% (through March 31, 2024). This compares to a +10.25% annualized return for the S&P 500 index in the same time period.
Unlock all of our powerful research, tools and analysis, including the Focus List, Zacks #1 Rank List, Equity Research Reports, Zacks Earnings ESP Filter, Premium Screener and more, as part of Zacks Premium. Gain full access now >>
Zacks ECAP Stocks The Clorox & McCormick Make Significant Gains
The Clorox Company (CLX - Free Report) , a component of our Earnings Certain Admiral Portfolio (ECAP), has jumped 23.2% over the past 12 weeks. McCormick & Company, Incorporated (MKC - Free Report) has followed The Clorox Company with 22.3% returns.
ECAP, which consists of 30 concentrated, ultra-defensive, long-term Buy and Hold stocks, has returned +9.08% in the year-to-date period (through March 31, 2024) vs. +10.42%.
In 2023, the portfolio returned +12.17% vs. +26.28% for the S&P 500 index. The portfolio returned -4.7% in 2022 vs. the S&P 500 index’s -17.96%.
With little to no turnover and annual rebalance periodicity, ECAP seeks to minimize capital loss by holding shares of companies whose earnings streams exhibit a proven 20+ year track record of surviving recessionary periods with minimal impact on aggregate earnings growth relative to the overall S&P 500.
The ECAP and many other model portfolios are available as part of Zacks Advisor Tools, a cloud-based solution to access Zacks award-winning stock, mutual fund and ETF research. Click here to schedule a demo.
Zacks ECDP Stocks Public Storage and UnitedHealth Outperform Peers
Public Storage (PSA - Free Report) , which is part of our Earnings Certain Dividend Portfolio (ECDP), has returned 22.0% over the past 12 weeks. Another ECDP stock, UnitedHealth Group Incorporated (UNH - Free Report) , has also climbed 20.1% over the same time frame. Of course, the inclination of investors toward quality dividend stocks to secure an income stream amid heightened market volatility contributed to this performance.
With an extremely low beta and a history of minimum earnings variability over the last 20+ years, this 25-stock portfolio helps significantly mitigate risk.
ECDP has returned +4.47% in the year-to-date period (through March 31, 2024) vs. +10.42% for the S&P 500 index (IVV) and +6.9% for the Dividend Aristocrats ETF (NOBL - Free Report) .
The portfolio returned -0.9% in 2023 vs. +26.28% for the S&P 500 index and +8.11% for NOBL. The portfolio returned -2.3% in 2022 vs. -17.96% for the S&P 500 index and -8.34% for NOBL.
Zacks Top 10 Stocks Axon Enterprise Outlet Delivers Solid Returns
Axon Enterprise, Inc. (AXON - Free Report) , from the Zacks Top 10 Stocks for 2024, has jumped 37.3% year to date, which compares to the S&P 500 index’s +13.76% increase.
The Top 10 portfolio returned +19.56% in 2024 Q1 vs. +10.56% for the S&P 500 index and +7.9% for the equal-weight version of the index.
The Top 10 portfolio returned +25.15% in 2023 vs. +26.28% for the S&P 500 index. Since 2012, the Top 10 portfolio has produced a cumulative return of +1,060.9% through the end of 2023 vs. +360.1% for the S&P 500 index.
Since 2012, the Zacks Top 10 portfolio has produced an annualized return of +25.02% through the end of 2024 Q1 vs. +14.1% for the S&P 500 index and +12.7% for the equal-weight version of the index. The portfolio has produced a cumulative return of +1,442.3% vs. +403.03% for the S&P 500 index and +331.29% for the equal-weight index.
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Take the Zacks Approach to Beat the Markets: Philip Morris, IAMGOLD, Solventum in Focus
All three major U.S. indexes closed last week in the red. The Nasdaq Composite, the S&P 500, and the Dow Jones Industrial Average declined 2.6%, 2.2% and 1.4%, respectively. September is well-known for seasonal weaknesses, and with it, recent soft economic reports have raised concerns about a recession.
The weak labor market data weighed on investors’ sentiment. Per the Job Openings and Labor Turnover Survey or JOLTS, the job openings in July have decreased to a 3.5-year low of 7.7 million, the lowest level since January 2021. According to the report published by the Institute of Supply Management, the manufacturing index was 47.2% in August. Any reading below 50 indicates a contraction in manufacturing activities.
Investors will try to get clues on the magnitude of an interest rate cut in the September policy meeting as doubts have surfaced over whether the Federal Reserve is behind the curve on interest rate cuts.
Regardless of market conditions, we, here at Zacks, provide investors with unbiased guidance on how to beat the market.
As usual, Zacks Research guided investors over the past three months with its time-tested methodologies. Given the prevailing market uncertainty, you may want to look at our feats to prepare better for your next action.
Here are some of our key achievements:
Philip Morris International and Skyward Specialty Insurance Following Zacks Rank Upgrade
Shares of Philip Morris International Inc. (PM - Free Report) have gained 19.8% (versus the S&P 500’s 2.9% decrease) since it was upgraded to a Zacks Rank #2 (Buy) on July 12.
Another stock, Skyward Specialty Insurance Group, Inc. (SKWD - Free Report) , which was upgraded to a Zacks Rank #1 (Strong Buy) on July 10, has returned 14.4% (versus the S&P 500’s 2.8% decrease) since then.
Zacks Rank, our short-term rating system, has earnings estimate revisions at its core. Empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
A hypothetical portfolio of Zacks Rank #1 stocks has returned +6.1% in the year-to-date period through April 1, 2024, vs. +11.3% for the S&P 500 index and +7.7% for the equal-weight version of the S&P 500 index.
This hypothetical portfolio returned +20.63% in 2023 vs. +24.83% for the S&P 500 index and +15% for the equal-weight S&P 500 index.
The portfolio of Zacks Rank #1 stocks is an equal-weight portfolio, while the S&P 500 index is a market-cap-weighted index that has been notably distorted by the concentrated performance of mega-cap stocks since October 2022.
The Zacks Model Portfolio — consisting of Zacks Rank #1 stocks — has outperformed the S&P index by more than 16 percentage points since 1988 (through April 1, 2024, the Zacks # 1 Rank stocks generated an annualized return of +27.6% since 1988 vs. +11.1% for the S&P 500 index).You can see the complete list of today’s Zacks Rank #1 stocks here >>>
Check Philip Morris International’s historical EPS and Sales here>>>
Check Skyward Specialty Insurance’s historical EPS and Sales here>>>
Image Source: Zacks Investment Research
Zacks Recommendation Upgrades IAMGOLD and S&T Bancorp
Shares of IAMGOLD Corporation (IAG - Free Report) and S&T Bancorp, Inc. (STBA - Free Report) have advanced 16.5% (versus the S&P 500’s 3.0% decrease) and 5.2%, respectively (versus the S&P 500’s 2.2% fall), since their Zacks Recommendation was upgraded to Outperform on July 18 and July 19, respectively.
While the Zacks Rank is our short-term rating system that is most effective over the one- to three-month holding horizon, the Zacks Recommendation aims to predict performance over the next 6 to 12 months. However, just like the Zacks Rank, the foundation for the Zacks Recommendation is trends in earnings estimate revisions.
The Zacks Recommendation classifies stocks into three groups — Outperform, Neutral and Underperform. While these recommendations are determined quantitatively, our analysts have the flexibility to override them for the 1100+ stocks they closely follow based on their better judgment of factors such as valuation, industry conditions and management effectiveness than the quantitative model.
To access our research reports with Zacks Recommendations for the 1100+ stocks we cover, click here>>>
Zacks Focus List Stocks CBRE, Solventum Shoot Up
Shares of CBRE Group, Inc. (CBRE - Free Report) , which belongs to the Zacks Focus List, have gained 30.7% over the past 12 weeks. The stock was added to the Focus List on March 13, 2017. Another Focus-List holding, Solventum Corporation (SOLV - Free Report) , which was added to the portfolio on April 1, 2024, has returned 21.3% over the past 12 weeks. The S&P 500 has advanced 0.9% over this period.
The Focus List portfolio returned +10.23% in 2024 Q1 vs. +10.56% for the S&P 500 index and +7.9% for the equal-weight S&P 500 index.
The 50-stock Zacks Focus List model portfolio returned +31.44% in 2023 vs. +26.28% for the S&P 500 index and +13.61% for the equal-weight S&P 500 index. In 2022, the portfolio produced -15.2% vs. the S&P 500 index’s -17.96%.
Since 2004, the Focus List portfolio has produced an annualized return of +11.91% (through March 31, 2024). This compares to a +10.25% annualized return for the S&P 500 index in the same time period.
Unlock all of our powerful research, tools and analysis, including the Focus List, Zacks #1 Rank List, Equity Research Reports, Zacks Earnings ESP Filter, Premium Screener and more, as part of Zacks Premium. Gain full access now >>
Zacks ECAP Stocks The Clorox & McCormick Make Significant Gains
The Clorox Company (CLX - Free Report) , a component of our Earnings Certain Admiral Portfolio (ECAP), has jumped 23.2% over the past 12 weeks. McCormick & Company, Incorporated (MKC - Free Report) has followed The Clorox Company with 22.3% returns.
ECAP, which consists of 30 concentrated, ultra-defensive, long-term Buy and Hold stocks, has returned +9.08% in the year-to-date period (through March 31, 2024) vs. +10.42%.
In 2023, the portfolio returned +12.17% vs. +26.28% for the S&P 500 index. The portfolio returned -4.7% in 2022 vs. the S&P 500 index’s -17.96%.
With little to no turnover and annual rebalance periodicity, ECAP seeks to minimize capital loss by holding shares of companies whose earnings streams exhibit a proven 20+ year track record of surviving recessionary periods with minimal impact on aggregate earnings growth relative to the overall S&P 500.
The ECAP and many other model portfolios are available as part of Zacks Advisor Tools, a cloud-based solution to access Zacks award-winning stock, mutual fund and ETF research. Click here to schedule a demo.
Zacks ECDP Stocks Public Storage and UnitedHealth Outperform Peers
Public Storage (PSA - Free Report) , which is part of our Earnings Certain Dividend Portfolio (ECDP), has returned 22.0% over the past 12 weeks. Another ECDP stock, UnitedHealth Group Incorporated (UNH - Free Report) , has also climbed 20.1% over the same time frame. Of course, the inclination of investors toward quality dividend stocks to secure an income stream amid heightened market volatility contributed to this performance.
Check Public Storage’s dividend history here>>>
Check UnitedHealth’s dividend history here>>>
With an extremely low beta and a history of minimum earnings variability over the last 20+ years, this 25-stock portfolio helps significantly mitigate risk.
ECDP has returned +4.47% in the year-to-date period (through March 31, 2024) vs. +10.42% for the S&P 500 index (IVV) and +6.9% for the Dividend Aristocrats ETF (NOBL - Free Report) .
The portfolio returned -0.9% in 2023 vs. +26.28% for the S&P 500 index and +8.11% for NOBL. The portfolio returned -2.3% in 2022 vs. -17.96% for the S&P 500 index and -8.34% for NOBL.
Click here to access this portfolio on Zacks Advisor Tools.
Zacks Top 10 Stocks Axon Enterprise Outlet Delivers Solid Returns
Axon Enterprise, Inc. (AXON - Free Report) , from the Zacks Top 10 Stocks for 2024, has jumped 37.3% year to date, which compares to the S&P 500 index’s +13.76% increase.
The Top 10 portfolio returned +19.56% in 2024 Q1 vs. +10.56% for the S&P 500 index and +7.9% for the equal-weight version of the index.
The Top 10 portfolio returned +25.15% in 2023 vs. +26.28% for the S&P 500 index. Since 2012, the Top 10 portfolio has produced a cumulative return of +1,060.9% through the end of 2023 vs. +360.1% for the S&P 500 index.
Since 2012, the Zacks Top 10 portfolio has produced an annualized return of +25.02% through the end of 2024 Q1 vs. +14.1% for the S&P 500 index and +12.7% for the equal-weight version of the index. The portfolio has produced a cumulative return of +1,442.3% vs. +403.03% for the S&P 500 index and +331.29% for the equal-weight index.