The major stock market indices finished last week higher, marking gains for three straight weeks. A solid start to the third-quarter earnings season, a decline in initial jobless claims, and declining COVID-19 cases have driven the performance of the stock market of late. According to FactSet, 23% of S&P 500 member companies had reported results for the third quarter as of October 22. Of these companies, 84% have surpassed consensus EPS estimates, besting the 76% five-year average.

While high inflation, a potential hike in corporate taxes, and supply chain bottlenecks continue to spook investors, an impressive earnings season should keep driving the market in the near term. Furthermore,  U.S Treasury Secretary Janet Yellen said yesterday that the United States was not losing control of  inflation, and that she expects inflation levels to return to normal by the second half of 2022.

Given this backdrop, we think it could be wise to bet on quality stocks Bristol-Myers Squibb Company (BMY), Biogen Inc. (BIIB), and Telefonaktiebolaget LM Ericsson (publ) (ERIC), which look undervalued at their current price levels.

Bristol-Myers Squibb Company (BMY)

BMY in New York City is a global biopharmaceutical company that discovers, develops, and delivers medicines for serious diseases. The company’s pharmaceutical products include chemically synthesized drugs or small molecules, and products produced from biological processes, called biologics. In addition, it offers Revlimid, Abraxane, Reblozyl, Inrebic, Onureg, and other products, including a range of treatments for oncology, immunology, cardiovascular, and fibrosis.

This month, BMY received the European Commission’s approval for Opdivo (nivolumab) in combination with fluoropyrimidine- and platinum-based combination chemotherapy for the first-line treatment of adult patients. With this approval, the company aims to serve patients with HER2-negative advanced or metastatic gastric, gastroesophageal junction, and esophageal adenocarcinomas problems.

BMY’s net product sales increased 16.2% year-over-year to $11.41 billion in the second quarter, ended June 30, 2021. The company’s total revenues grew 15.5% from its year-ago value to $11.7 billion. Its net earnings came in at $1.06 billion, compared to an $80 million net loss in the prior-year quarter. Also, the company’s EPS amounted to $0.47, compared to a $0.04 loss per share in the second quarter of 2020.

Analysts expect BMY’s revenue for its fiscal year 2021 to be $46.44 billion, representing 9.2% growth year-over-year. The company has an impressive surprise earnings history; it surpassed the consensus EPS in three of the trailing four quarters. Its EPS is expected to grow 16% in the current year.

In terms of forward EV/Sales, BMY is currently trading at 3.46x, which is 49.5% lower than the 6.84x industry average. Also, in terms of its forward non-GAAP P/E, the stock is currently trading at 7.71x, which is 66.5% lower than the 23x industry average.

BMY’s strong fundamentals are reflected in its POWR Ratings. The stock has an overall A rating, which equates to a Strong Buy in our proprietary rating system. The POWR Ratings assess stocks by 118 distinct factors, each with its own weighting.

Also, the stock has an A grade for Value, and a B for Quality and Growth. We’ve also graded BMY for Sentiment, Momentum, and Stability. Click here to access all BMY’s ratings.

BMY is ranked #14 of 209 stocks in the Medical – Pharmaceuticals industry.

Click here to checkout our Healthcare Sector Report for 2021

Biogen Inc. (BIIB)

BIIB is a global biotechnology company that discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases. The Cambridge, Mass.-basedcompany’s marketed products include TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, FAMPYRA, and FUMADERM. In addition, it has collaboration and license agreements with Acorda Therapeutics, Inc.; Alkermes Pharma Ireland Limited; Bristol-Myers Squibb Company; Eisai Co., Ltd.; Genentech, Inc.; Neurimmune SubOne AG; Ionis Pharmaceuticals, Inc.; Ginkgo Bioworks; Capsigen Inc.; and Mirimus, Inc.

This month, BIIB and Sage Therapeutics, Inc. plans to submit a New Drug Application (NDA) to the U.S. Food and Drug Administration (FDA) for zuranolone. Through the approval of zuranolone, the companies should be able to provide treatment for major depressive disorder (MDD) and an additional filing for postpartum depression (PPD).

During its third fiscal quarter, ended September 30, 2021, BIIB’s total revenue came in at $2.78 billion. The company’s operating income amounted to $794 million during the period. Its cash-and-cash equivalents increased 13.2% for the six months ended September 30, 2021, to $2.96 billion. Also, the company’s net income was $318.1 million for the quarter.

BIIB has an impressive earnings surprise history; it beat the consensus EPS estimates in three of the trailing four quarters. The company’s EPS is expected to increase 1.2% next year. The stock has soared 8.1% in price year-to-date.

In terms of forward EV/EBITDA, BIIB is currently trading at 10.04x, which is 37.5% lower than the 16.06x industry average. In addition, its 11.85x forward EV/EBIT is 44.8% lower than the 21.48x industry average.

BIIB’s POWR Ratings reflect this promising outlook. The stock has an overall B rating, which equates to a Buy in our proprietary rating system. Also, the stock has an A grade for Value, and a B for Quality and Growth.

In addition to the POWR Rating grades I’ve just highlighted, one can see BIIB’s ratings for Stability, Momentum, and Sentiment here. The stock is ranked #14 of 509 stocks in the Biotech industry.

Click here to checkout our Healthcare Sector Report for 2021

Telefonaktiebolaget LM Ericsson (publ) (ERIC)

Headquartered in Stockholm, Sweden, ERIC offers communication infrastructure, services, and software solutions to telecommunications and other industries. It operates through four segments–Networks; Digital Services; Managed Services; and Emerging Business and Other.

This month, ERIC and Telenet, a Belgian Communications Service Provider, extended their managed services partnership with a five-year deal. ERIC intends to enhance customer experience, drive efficacy, and expand its footprint by leveraging its competitive 5G portfolio through this deal.

ERIC’s net income increased 3.6% year-over-year to SEK5.8 billion ($676.11 million) for its third fiscal quarter, ended September 30, 2021. The company’s net sales came in at SEK56.3 billion ($6.56 billion) during the period. Its EBIT grew 2.3% from its year-ago value to SEK8.8 billion ($1.03 billion). Also, the company’s EPS rose 7.5% from the prior-year quarter to SEK1.73 ($0.2).

For its fiscal year 2021, analysts expect ERIC’s revenue to be $26.66 billion, representing 5.5% year-over-year growth. In addition, its EPS is expected to increase 11.1% in the current year and 25% next quarter. ERIC’s stock price has surged 4.5% over the past month

In terms of forward EV/Sales, ERIC is currently trading at 1.35x, which is 67.7% lower than the 4.17x industry average. Also, in terms of its forward Price/Sales, the stock is currently trading at 1.44x, which is 64.8% lower than the 4.09x industry average. 

It’s no surprise that ERIC has an overall B rating, which equates to a Buy in our POWR Rating system. Also, the stock has an A grade for Value, and a B grade for Stability.

Click here to see the additional POWR Ratings for ERIC (Momentum, Sentiment, Quality, and Growth). The stock is ranked #18 of 55 in the B-rated Technology – Communication/Networking industry.

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Skillz Inc. (SKLZ) closed the most recent trading day at $10.11, moving +1.71% from the previous trading session. This move outpaced the S&P 500’s daily loss of 0.11%.

Prior to today’s trading, shares of the company had lost 12.73% over the past month. This has lagged the Consumer Discretionary sector’s gain of 1.61% and the S&P 500’s gain of 4.61% in that time.

Investors will be hoping for strength from SKLZ as it approaches its next earnings release, which is expected to be November 3, 2021.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.61 per share and revenue of $390.23 million. These totals would mark changes of -48.78% and +69.58%, respectively, from last year.

Investors should also note any recent changes to analyst estimates for SKLZ. 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.

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.

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. The Zacks Consensus EPS estimate remained stagnant within the past month. SKLZ is currently sporting a Zacks Rank of #3 (Hold).

The Gaming industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 183, putting it in the bottom 28% 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.

To follow SKLZ in the coming trading sessions, be sure to utilize Zacks.com.

Zacks Names “Single Best Pick to Double”

From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.

You know this company from its past glory days, but few would expect that it’s poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.

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Toyota Motor Corporation (TM) closed at $173.40 in the latest trading session, marking a -0.36% move from the prior day. This change lagged the S&P 500’s daily loss of 0.11%.

Heading into today, shares of the company had lost 4.8% over the past month, lagging the Auto-Tires-Trucks sector’s gain of 7.81% and the S&P 500’s gain of 4.61% in that time.

Investors will be hoping for strength from TM as it approaches its next earnings release. In that report, analysts expect TM to post earnings of $2.60 per share. This would mark a year-over-year decline of 17.46%. Our most recent consensus estimate is calling for quarterly revenue of $62.07 billion, down 2.77% from the year-ago period.

TM’s full-year Zacks Consensus Estimates are calling for earnings of $18.47 per share and revenue of $281.42 billion. These results would represent year-over-year changes of +23.22% and +9.41%, respectively.

Investors should also note any recent changes to analyst estimates for TM. 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.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Over the past month, the Zacks Consensus EPS estimate has moved 6.35% lower. TM currently has a Zacks Rank of #3 (Hold).

Looking at its valuation, TM is holding a Forward P/E ratio of 9.42. This represents a discount compared to its industry’s average Forward P/E of 9.74.

Investors should also note that TM has a PEG ratio of 0.39 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock’s expected earnings growth rate. Automotive – Foreign stocks are, on average, holding a PEG ratio of 0.35 based on yesterday’s closing prices.

The Automotive – Foreign industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 212, putting it in the bottom 17% 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.

Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.

Zacks Names “Single Best Pick to Double”

From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.

You know this company from its past glory days, but few would expect that it’s poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.

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Raytheon Technologies (RTX) closed at $91.86 in the latest trading session, marking a +0.27% move from the prior day. The stock outpaced the S&P 500’s daily loss of 0.11%.

Coming into today, shares of the an aerospace and defense company had gained 5.6% in the past month. In that same time, the Aerospace sector lost 1.28%, while the S&P 500 gained 4.61%.

Wall Street will be looking for positivity from RTX as it approaches its next earnings report date. This is expected to be October 26, 2021. On that day, RTX is projected to report earnings of $1.07 per share, which would represent year-over-year growth of 84.48%. Our most recent consensus estimate is calling for quarterly revenue of $16.49 billion, up 11.85% from the year-ago period.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.03 per share and revenue of $65.35 billion. These totals would mark changes of +47.62% and +3.01%, respectively, from last year.

Any recent changes to analyst estimates for RTX should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company’s business outlook.

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.

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. RTX is holding a Zacks Rank of #3 (Hold) right now.

Digging into valuation, RTX currently has a Forward P/E ratio of 22.73. This represents a discount compared to its industry’s average Forward P/E of 24.73.

Investors should also note that RTX has a PEG ratio of 1.73 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. RTX’s industry had an average PEG ratio of 2.78 as of yesterday’s close.

The Aerospace – Defense Equipment industry is part of the Aerospace sector. This industry currently has a Zacks Industry Rank of 191, which puts it in the bottom 25% 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.

Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.

Zacks Names “Single Best Pick to Double”

From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.

You know this company from its past glory days, but few would expect that it’s poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.

Free: See Our Top Stock and 4 Runners Up >>

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Quanta Services (PWR) closed the most recent trading day at $118.06, moving +1.25% from the previous trading session. This change outpaced the S&P 500’s 0.11% loss on the day.

Heading into today, shares of the specialty contractor for utility and energy companies had lost 1.69% over the past month, lagging the Construction sector’s gain of 4.26% and the S&P 500’s gain of 4.61% in that time.

Investors will be hoping for strength from PWR as it approaches its next earnings release. On that day, PWR is projected to report earnings of $1.47 per share, which would represent year-over-year growth of 5%. Meanwhile, our latest consensus estimate is calling for revenue of $3.43 billion, up 13.5% from the prior-year quarter.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.64 per share and revenue of $12.5 billion. These totals would mark changes of +21.47% and +11.61%, respectively, from last year.

Investors might also notice recent changes to analyst estimates for PWR. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company’s business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. The Zacks Consensus EPS estimate has moved 0.76% higher within the past month. PWR is currently sporting a Zacks Rank of #2 (Buy).

Looking at its valuation, PWR is holding a Forward P/E ratio of 25.11. Its industry sports an average Forward P/E of 25.06, so we one might conclude that PWR is trading at a premium comparatively.

The Engineering – R and D Services industry is part of the Construction sector. This group has a Zacks Industry Rank of 87, putting it in the top 35% 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.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.

Zacks Names “Single Best Pick to Double”

From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.

You know this company from its past glory days, but few would expect that it’s poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.

Free: See Our Top Stock and 4 Runners Up >>

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In the latest trading session, Nu Skin Enterprises (NUS) closed at $41.07, marking a -0.85% move from the previous day. This change lagged the S&P 500’s daily loss of 0.11%.

Heading into today, shares of the seller of skin care and nutritional products through a direct-selling model had gained 0.36% over the past month, outpacing the Consumer Staples sector’s loss of 0.73% and lagging the S&P 500’s gain of 4.61% in that time.

Wall Street will be looking for positivity from NUS as it approaches its next earnings report date. This is expected to be November 3, 2021. The company is expected to report EPS of $0.93, down 13.89% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $638.87 million, down 9.17% from the year-ago period.

NUS’s full-year Zacks Consensus Estimates are calling for earnings of $4.01 per share and revenue of $2.73 billion. These results would represent year-over-year changes of +10.47% and +5.59%, respectively.

Investors should also note any recent changes to analyst estimates for NUS. These recent revisions tend to reflect the evolving nature of short-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. The Zacks Consensus EPS estimate has moved 9.2% lower within the past month. NUS currently has a Zacks Rank of #5 (Strong Sell).

Looking at its valuation, NUS is holding a Forward P/E ratio of 10.32. This valuation marks a discount compared to its industry’s average Forward P/E of 41.36.

The Cosmetics industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 163, which puts it in the bottom 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.

To follow NUS in the coming trading sessions, be sure to utilize Zacks.com.

Zacks Names “Single Best Pick to Double”

From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.

You know this company from its past glory days, but few would expect that it’s poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.

Free: See Our Top Stock and 4 Runners Up >>

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Eli Lilly (LLY) closed at $243.75 in the latest trading session, marking a +1.07% move from the prior day. The stock outpaced the S&P 500’s daily loss of 0.11%.

Coming into today, shares of the drugmaker had gained 3.87% in the past month. In that same time, the Medical sector lost 1.72%, while the S&P 500 gained 4.61%.

LLY will be looking to display strength as it nears its next earnings release, which is expected to be October 26, 2021. The company is expected to report EPS of $1.98, up 28.57% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.66 billion, up 15.98% from the year-ago period.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $7.90 per share and revenue of $27.41 billion. These totals would mark changes of -0.38% and +11.7%, respectively, from last year.

Investors should also note any recent changes to analyst estimates for LLY. 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. Within the past 30 days, our consensus EPS projection has moved 0.38% higher. LLY is currently sporting a Zacks Rank of #3 (Hold).

In terms of valuation, LLY is currently trading at a Forward P/E ratio of 30.53. This represents a premium compared to its industry’s average Forward P/E of 13.76.

Meanwhile, LLY’s PEG ratio is currently 1.95. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock’s expected earnings growth rate. The Large Cap Pharmaceuticals was holding an average PEG ratio of 2.1 at yesterday’s closing price.

The Large Cap Pharmaceuticals industry is part of the Medical 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.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.

Zacks Names “Single Best Pick to Double”

From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.

You know this company from its past glory days, but few would expect that it’s poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.

Free: See Our Top Stock and 4 Runners Up >>

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Cloudflare (NET) closed the most recent trading day at $181.35, moving -0.36% from the previous trading session. This change lagged the S&P 500’s daily loss of 0.11%.

Prior to today’s trading, shares of the web security and content delivery company had gained 34.15% over the past month. This has outpaced the Computer and Technology sector’s gain of 1.9% and the S&P 500’s gain of 4.61% in that time.

NET will be looking to display strength as it nears its next earnings release, which is expected to be November 4, 2021. In that report, analysts expect NET to post earnings of -$0.04 per share. This would mark a year-over-year decline of 100%. Meanwhile, our latest consensus estimate is calling for revenue of $165.87 million, up 45.3% from the prior-year quarter.

For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.12 per share and revenue of $632.43 million, which would represent changes of 0% and +46.72%, respectively, from the prior year.

Investors should also note any recent changes to analyst estimates for NET. 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.

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. Within the past 30 days, our consensus EPS projection has moved 0.63% lower. NET currently has a Zacks Rank of #4 (Sell).

The Internet – Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 183, putting it in the bottom 28% 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.

To follow NET in the coming trading sessions, be sure to utilize Zacks.com.

Zacks Names “Single Best Pick to Double”

From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.

You know this company from its past glory days, but few would expect that it’s poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.

Free: See Our Top Stock and 4 Runners Up >>

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Innovative Industrial Properties (IIPR) closed at $259.71 in the latest trading session, marking a +1.18% move from the prior day. This move outpaced the S&P 500’s daily loss of 0.11%.

Coming into today, shares of the company had gained 4.47% in the past month. In that same time, the Finance sector gained 7.3%, while the S&P 500 gained 4.61%.

Wall Street will be looking for positivity from IIPR as it approaches its next earnings report date. The company is expected to report EPS of $1.72, up 34.38% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $52.8 million, up 53.8% from the prior-year quarter.

For the full year, our Zacks Consensus Estimates are projecting earnings of $6.71 per share and revenue of $200.8 million, which would represent changes of +34.2% and +71.78%, respectively, from the prior year.

Investors should also note any recent changes to analyst estimates for IIPR. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company’s business outlook.

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.

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. Over the past month, the Zacks Consensus EPS estimate has moved 0.23% lower. IIPR is currently a Zacks Rank #3 (Hold).

Investors should also note IIPR’s current valuation metrics, including its Forward P/E ratio of 38.26. This valuation marks a premium compared to its industry’s average Forward P/E of 18.97.

The REIT and Equity Trust – Other industry is part of the Finance sector. This group has a Zacks Industry Rank of 74, putting it in the top 30% 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.

You can find more information on all of these metrics, and much more, on Zacks.com.

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Innovative Industrial Properties, Inc. (IIPR): Free Stock Analysis Report
 
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Chemung Financial (CHMG) came out with quarterly earnings of $1.42 per share, beating the Zacks Consensus Estimate of $1.22 per share. This compares to earnings of $1.19 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of 16.39%. A quarter ago, it was expected that this financial holding company would post earnings of $1.17 per share when it actually produced earnings of $1.45, delivering a surprise of 23.93%.

Over the last four quarters, the company has surpassed consensus EPS estimates four times.

Chemung Financial, which belongs to the Zacks Banks – Southeast industry, posted revenues of $22.8 million for the quarter ended September 2021, surpassing the Zacks Consensus Estimate by 6.38%. This compares to year-ago revenues of $21.21 million. The company has topped consensus revenue estimates three times over the last four quarters.

The sustainability of the stock’s immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management’s commentary on the earnings call.

Chemung Financial shares have added about 33.7% since the beginning of the year versus the S&P 500’s gain of 20.8%.

What’s Next for Chemung Financial?

While Chemung Financial has outperformed the market so far this year, the question that comes to investors’ minds is: what’s next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company’s earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Chemung Financial was mixed. While the magnitude and direction of estimate revisions could change following the company’s just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $1.18 on $21.58 million in revenues for the coming quarter and $5.15 on $86.25 million in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Banks – Southeast is currently in the top 31% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

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