Rising profits are vital to a stock's performance. Today's IBD Screen Of The Day is the Rising Profit Estimates screen. This screen identifies stocks for which analysts have raised forecasts, including New Oriental Education and Vertiv Holdings. Both EDU stock and VRT stock are hitting new highs.
The IBD Stock Screener identifies 93 leading stocks, but New Oriental and Vertiv are standing out.
EDU Stock: Bouncing Off 10-Week Average
New Oriental bounced off its 10-week moving average to create a 55.55 buy point the week of Sept. 29. EDU stock is now extended from the buy zone that reached to 61.11, after robust moves on Tuesday and Wednesday.
The China-based online education stock hit a 52-week high on Wednesday. Shares have gained around 85% this year so far.
Analysts raised their full-year earnings estimates to reflect growth of 49% this year and 32% the next, according to MarketSmith.
New Oriental provides private online education, language learning, test preparation and services for studying abroad. The company reports its fiscal first-quarter results on Oct. 25, and shares have a history of jumping after its earnings releases.
Institutional investors are adding EDU stock as shown by its Accumulation/Distribution Rating of A+.
VRT Stock Cruises Into Buy Zone
Meanwhile, Vertiv has moved into a 5% buy zone. That buy zone reaches to 42.43, after shares hit a 40.41 buy point out of a flat base on Tuesday. The company makes cooling and power equipment used by data centers and servers that power artificial intelligence.
VRT stock also reached an all-time high Tuesday, adding to its more than 200% rise this year. Its relative strength line hit a 52-week high.
Analysts raised their full-year earnings estimates to reflect a whopping 204% gain this year and 24% in 2024, according to IBD MarketSmith. A recently raised forecast is identified by the green upward-pointing arrow next to the annual earnings estimate in the company's MarketSmith earnings box.
Shares gapped up 29.3% on Aug. 2 after the company reported better-than-expected Q2 results. It also raised its third-quarter outlook for revenue and earnings. Vertiv has shown strong earnings growth in the last three quarters. Meanwhile, sales growth has ranged from 17% to 32% during the same time period. Vertiv reports Q3 earnings on Oct. 25.
VRT stock holds a best-possible 99 Relative Strength Rating and a top-notch 98 Composite Rating. EDU stock holds a perfect 99 Composite Rating and a stellar 98 RS Rating.
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