Yahoo Finance Zacks.com featured highlights Deere, Atlas, First Citizens BancShares, LPL Financial and Unum Group
For Immediate Release
Chicago, IL – December 29, 2022 – Stocks in this week’s article are Deere & Co. DE, Atlas Corp. ATCO, First Citizens BancShares, Inc. FCNCA, LPL Financial Holdings Inc. LPLA and Unum Group UNM.
Buy These 5 Stocks with Solid Sales Growth for the New Year
With the turbulent 2022 coming to an end, it’s time for investors to re-assess their portfolio and investment strategy for the New Year. While recent economic data point to the effectiveness of the Federal Reserve’s ultra-aggressive monetary tightening, we are still not out of the woods. The central bank is expected to keep interest rates high till inflation comes down reasonably.
This has made investors wary, as higher rates will likely lead to a recession/economic slowdown in 2023. So, a conventional stock-picking strategy is the need of the hour, which will help generate solid returns. One such method is choosing stocks with steady sales growth. In this regard, stocks like Deere & Co., Atlas Corp., First Citizens BancShares, Inc., LPL Financial Holdings Inc. and Unum Group are worth a look.
While evaluating any company, revenues are often more analyzed than earnings. This is because investors want to make sure that a business has the capability of generating more sales over time to cater to an expanding customer base. Steady or declining sales growth reflects obstacles at the company. Stagnant companies may generate profit in the near term but do not ensure enough growth to attract new investors.
Without solid revenue growth, bottom-line improvement may not be sustainable. While a company can show earnings strength by lowering costs, persistent bottom-line growth usually requires robust sales growth.
Nonetheless, sales growth alone doesn’t indicate much about a company’s prospects. So, taking into consideration a company’s cash position along with its sales number can prove to be a sensible investment strategy. Substantial cash in hand and a steady cash flow give a company more flexibility with respect to business decisions and potential investments.
Here are five of the 14 stocks that qualified the screening:
Deere, based in Moline, IL, is the world’s largest producer of agricultural equipment. DE has been manufacturing agricultural machinery since 1837 under the iconic John Deere brand with its signature green and yellow color scheme.
Deere’s expected sales growth rate for fiscal 2023 is 13.3%. The stock carries a Zacks Rank #2 at present.
London-headquartered Atlas Corp operates as an asset manager and operator of containerships. ATCO operates as an independent charter owner and manager of containerships.
Atlas Corp.’s expected sales growth rate for 2023 is 12%. The stock currently carries a Zacks Rank #2.
Raleigh, NC-based First Citizens is a financial holding company that provides retail and commercial banking services. FCNCA, with more than $100 billion in assets and roughly 550 branches in 22 states, is one of the top 20 U.S. financial institutions.
First Citizens’ sales are expected to rise 10.4% in 2023. The stock sports a Zacks Rank #1 at present.
LPL Financial, based in Boston, MA, is a clearing broker-dealer and an investment advisory firm. LPLA acts as an agent for its advisors, on behalf of their clients, by providing access to a broad array of financial products and services.
LPL Financial’s expected sales growth for 2023 is 14.8%. The company, at present, sports a Zacks Rank #1.
Chattanooga, TN-headquartered Unum was created following the merger of Provident Companies, Inc. and Unum Corporation. Along with disability insurance, UNM provides long-term care insurance, life insurance, employer- and employee-paid group benefits and related services.
Unum’s expected sales growth rate for 2023 is 2.2%. The stock currently carries a Zacks Rank #2.
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For the rest of this Screen of the Week article please visit Zacks.com at: https://www.zacks.com/stock/news/2032890/buy-these-5-stocks-with-solid-sales-growth-for-the-new-year
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Deere & Company (DE) : Free Stock Analysis Report
Unum Group (UNM) : Free Stock Analysis Report
First Citizens BancShares, Inc. (FCNCA) : Free Stock Analysis Report
LPL Financial Holdings Inc. (LPLA) : Free Stock Analysis Report
Atlas Corp. (ATCO) : Free Stock Analysis Report
