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The Zacks Analyst Blog Highlights: Triumph Bancorp, AutoNation, Olin Corp, Range Resources Corp and Ryder System

The Zacks Analyst Blog Highlights: Triumph Bancorp, AutoNation, Olin Corp, Range Resources Corp and Ryder System

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This story originally appeared on Zacks

For Immediate Release

Chicago, IL – October 21, 2021 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Triumph Bancorp Inc. TBK, AutoNation Inc. AN, Olin Corporation OLN, Range Resources Corporation RRC and Ryder System Inc. R.

- Zacks

Here are highlights from Wednesday’s Analyst Blog:

5 Must-Buy Mid-Cap Stocks Ahead of Q3 Earnings

The third-quarter 2021 earnings season is gradually gathering pace. We are in the early stage of the reporting cycle and results so far are highly encouraging. This is in contrast to the view of a section of economists and financial experts that the momentum of the U.S. economic recovery slipped last quarter owing to prolonged supply-chain disruptions, labor shortage, higher inflationary pressure and the resurgence of the Delta variant of the novel coronavirus.

Strong third-quarter results are driving Wall Street in October. Market participants have high expectations from this earnings season as overall earnings of corporate America are likely to remain robust after skyrocketing in the second quarter.

Third-quarter 2021 was not a good one for mid-cap stocks. The mid-cap-specific S&P 400 Index fell 2.1%, mainly due to a market meltdown in September. Nevertheless, five mid-cap stocks with a favorable Zacks Rank are set to beat earnings estimate this month. Investment in these stocks are likely to be fruitful going forward.

Impressive Start to Q3 Earnings Season

As of Oct 15, 41 S&P 500 companies reported third-quarter results. Total earnings of these companies are up 40.4% year over year on 13.4% higher revenues, with 85.4% beating EPS estimates and 70.7% surpassing revenue estimates.

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Total third-quarter earnings of the market's benchmark — the S&P 500 Index — are projected to jump 29.4% from the same period last year on 14.1% higher revenues, following 95% year-over-year earnings growth on 25.3% higher revenues in the second quarter and 49.3% year-over-year earnings growth on 10.3% higher revenues in first-quarter 2021.

The first two quarters of this year were favorably impacted since the corresponding quarters of last year were affected by the pandemic-led lockdowns and restrictions. Nevertheless, the U.S. economy started reopening partially albeit at a very slow pace since the third quarter of 2020. Notwithstanding favorable comparisons with last year, third-quarter 2021 earnings estimates reflect genuine growth, climbing 20% from the pre-pandemic third-quarter 2019.

Our Top Picks

We have narrowed down our search to five mid-cap (market capital >$2 billion <$9 billion) stocks that will report third-quarter 2021 earnings results this month. Each of our picks carries a Zacks Rank#1 (Strong Buy) and a positive Earnings ESP. You can see the complete list of today’s Zacks #1 Rank stocks here.

Our research shows that for stocks with the combination of a Zacks Rank #3 (Hold) or better and a positive Earnings ESP, the chance of an earnings beat is as high as 70%. These stocks are anticipated to appreciate after earnings releases. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Triumph Bancorp is a financial holding company with a diversified line of community banking, commercial finance and asset management activities. It operates through three segments: Banking, Factoring, and Corporate.

The company has an Earnings ESP of +3.45%. It has an expected earnings growth rate of 80.6% for the current year. The Zacks Consensus Estimate for current-year earnings improved 1.3% over the last 30 days. It recorded earnings surprises in the last four reported quarters, with an average beat of 48.4%. The company is set to release earnings results on Oct 20, after the closing bell.

AutoNation is the largest automotive retailer in the United States. The company offers vehicle maintenance and repair services, vehicle parts, extended service contracts, vehicle protection products, and other aftermarket products. In addition, it arranges financing for vehicle purchases through third-party sources. It operates through three segments: Domestic, Import, and Premium Luxury.

The company has an Earnings ESP of +8.85%. It has an expected earnings growth rate of more than 100% for the current year. The Zacks Consensus Estimate for current-year earnings improved 4.2% over the last 30 days. It recorded earnings surprises in the last four reported quarters, with an average beat of 48%. The company is set to release earnings results on Oct 21, before the opening bell.

Olin Corp. manufactures and distributes chemical products in the United States, Europe, and internationally. The company operates as a vertically-integrated global producer and distributor of chemical products. It operates through three segments: Chlor Alkali Products and Vinyls, Epoxy, and Winchester.

The company has an Earnings ESP of +6.95%. It has an expected earnings growth rate of more than 100% for the current year. The Zacks Consensus Estimate for current-year earnings improved 4.3% over the last 30 days. The company is set to release earnings results on Oct 21, after the closing bell.

Range Resources Corp. is an independent oil and gas company engaged in the exploration, development and acquisition of oil and gas properties, primarily in the Appalachian Basin and North Louisiana.

The company has an Earnings ESP of +1.63%. It has an expected earnings growth rate of more than 100% for the current year. The Zacks Consensus Estimate for current-year earnings improved 0.5% over the last 7 days. The company is set to release earnings results on Oct 26, after the closing bell.

Ryder System is one of the world's largest providers of integrated logistics and transportation solutions. Its customers range from small businesses to large international enterprises. These clients are drawn from a wide variety of industries, the most significant of which include automotive, electronics, transportation, grocery, lumber and wood products, food service and home furnishing.

The company has an Earnings ESP of +4.73%. It has an expected earnings growth rate of more than 100% for the current year. The Zacks Consensus Estimate for current-year earnings improved 0.1% over the last 7 days. It recorded earnings surprises in three out of the last four reported quarters, with an average beat of 134.8%. The company is set to release earnings results on Oct 27, before the opening bell.

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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.



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Ryder System, Inc. (R): Free Stock Analysis Report

 

Range Resources Corporation (RRC): Free Stock Analysis Report

 

AutoNation, Inc. (AN): Free Stock Analysis Report

 

Olin Corporation (OLN): Free Stock Analysis Report

 

Triumph Bancorp, Inc. (TBK): Free Stock Analysis Report

 

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