For Immediate Release
Chicago, IL – September 6, 2022 – Stocks in this week’s article are Tesla, Inc. TSLA, EPAM Systems, Inc. EPAM, Unum Group UNM, LPL Financial Holdings Inc. LPLA and CSX Corp. CSX.
5 Stocks with Sales Growth to Buy Amid Market Turmoil
At present, one must consider the changing market backdrop and chalk out an investment strategy to help generate robust returns. Since the beginning of 2022, markets have been bearing the brunt of macroeconomic and geopolitical ambiguity.
Amid such bearish investor sentiments, a conventional stock picking strategy is useful. One such way is selecting stocks with steady sales growth. Hence, stocks like Tesla, Inc., EPAM Systems, Inc., Unum Group, LPL Financial Holdings Inc. and CSX Corp. are worth betting on.
While assessing business growth, revenues are often monitored more than earnings. This is because investors want to make sure whether a business has the capability of generating more sales over time to cater to an expanding customer base.
Stable or declining sales growth indicates obstacles at the company. Stagnant companies may generate near-term profit but do not ensure enough growth to attract new investors.
Without impressive revenue growth, bottom-line improvement may not be sustainable over the long term. While a company can show earnings strength by lowering costs, continuous bottom-line improvement usually requires robust sales growth.
Nevertheless, sales growth alone does not indicate much about a company’s future performance. So, taking into consideration a company’s cash position along with its sales number can prove to be a more dependable 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 21 stocks that qualified the screening:
Austin, TX-based Tesla is the market leader in battery-powered electric car sales in the United States, with roughly 70% market share. TSLA operates under two segments: Automotive and Energy Generation & Storage.
Tesla’s expected sales growth rate for 2022 is 58.4%. The stock currently carries a Zacks Rank #2.
Based in Newtown, PA, EPAM Systems is well known for its software engineering and IT consulting services. EPAM is engaged in providing software product development services, custom application development services, application testing services, application maintenance and support services, infrastructure management services and enterprise information management services.
EPAM Systems’ sales are expected to jump 29.4% for 2022. The stock sports a Zacks Rank #1 at present.
Based in Chattanooga, TN, Six provides financial protection benefit solutions. UNM operates its business through four segments – Unum US, Closed Block, Colonial Life and Unum International.
Unum’s expected sales growth for 2022 is 1.2%. The company, at present, sports a Zacks Rank #1.
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 rate for 2022 is 10.8%. The stock sports a Zacks Rank #1 at present.
Headquartered in Jacksonville, FL, CSX Corp is one of the United States’ leading transportation companies. CSX offers rail-based freight transportation services like traditional rail service, transport of intermodal containers and trailers apart from rail-to-truck transfers.
CSX Corp’s expected sales growth rate for 2022 is 17.7%. The stock carries a Zacks Rank #2 currently.
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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/1975617/5-stocks-with-solid-sales-growth-to-buy-amid-market-turmoil
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