2023-01-24 20:55:00

2 Stocks to Consider Buying Before Earnings This Week

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By Zacks

This weeks earnings will be important for investors to get a clearer picture of the outlook for many larger-cap stocks that are crucial to the broader stock market and economy.

With that being said, here are two stocks investors shouldnt overlook and may want to consider buying going into their fourth-quarter releases.

International Business Machines IBM

The first stock investors will want to pay attention to is International Business Machines (IBM) which is set to report Q4 earnings on January 25.

Evolving into a cloud and data provider, IBM has shown the ability to manage its bottom line effectively despite a challenging economy and slowing top-line growth.

IBM currently lands a Zacks Rank #3 (Hold) with its current Fiscal year 2022 and Q4 earnings estimate revisions trending higher again despite fiscal 2023 earnings estimates slightly declining.

Image Source: Zacks Investment Research

Q4 Preview: Fourth-quarter earnings estimates have now gone up to $3.60 per share in the last week compared to $3.57 a share, which is a sign that IBM could top bottom-line expectations. This would also represent 7% year-over-year growth from Q4 2021 and round out IBMs Fiscal 2022 earnings at $9.14 a share, a 15% increase from FY21.

Continue read on nasdaq.com

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