Several recent entries have appeared on the IBD's Rising Profit Estimates Screen. Two have reported earnings in the past couple weeks, and the other is due to release earnings Tuesday.
This screen reveals 20 top-rated growth stocks whose earnings estimates are on the rise. A solid track record of growth is one thing, but future growth also matters. This screen gives you plenty of fast-growing stocks to invest in.
Costamare, a Greek shipping company, is in a cup base with a 16.82 buy point. It is scheduled to release earnings on Tuesday. FactSet analysts expect it to report earnings of 97 cents per share for the fourth quarter. Its third-quarter earnings surged 200%.
Costamare Releases Earnings Tuesday
Costamare is currently ranked No. 1 among IBD's shipping group, with a strong Composite Rating of 99.
Retail investors tend to chase stocks they are familiar with. This can lead to inflated valuations and often underperformance in the long term. By using IBD's Rising Profit Estimates Screen, we can cut out some of the noise and find the best-performing stocks, regardless of sticker appeal.
Ares Management, an investment management stock, fell 1% today. Ares beat analyst forecasts last week on both earnings and revenue.
Ares Management has been basing since mid-November and is climbing the rear wall of a double-bottom base, approaching a buy point of 84.20, according to MarketSmith.
The Los Angeles-based firm reported net income of 85 cents per share for the quarter ended Dec. 31, on sales of $1.3 billion. FactSet analysts expected 72 cents a share and sales of $659 million.
Steris Approaching Buy Point
Steris is forming a cup base with a 248.39 buy point. The stock is trying to regain its 10-week line. The Ireland-based company reported earnings on Feb. 8 of $2.12 a share for the quarter ended Dec. 31, which beat FactSet analyst forecasts of $1.95 per share. Analysts expect EPS for the current quarter of $2.02 per share.
Steris earns the No. 1 rank among its peers in the medical equipment industry group. The health care company makes infection prevention and surgical products.
"While supply chain and inflation continue to be a challenge, our teams have worked to manage through with minimal impact on our ability to serve our Customers," said Dan Carestio, president and chief executive officer of Steris. "We continue to anticipate another record year for Steris and are updating our outlook for the full fiscal year 2022 based on better-than-anticipated performance."
Follow Michael Molinski on Twitter @IMmolinski
