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Stratasys and Conn's have been highlighted as Zacks Bull and Bear of the Day

For Immediate Release

Chicago, IL – April 18, 2023 – Zacks Equity Research shares Stratasys SSYS as the Bull of the Day and Conn's CONN as the Bear of the Day. In addition, Zacks Equity Research provides analysis on Baker Hughes Company BKR, EOG Resources EOG and Matador Resources Co. MTDR.

Here is a synopsis of all five stocks:

Bull of the Day:

The latest hype in the market has certainly been artificial intelligence. All of the AI-related tickers have been going absolutely nuts. It's on par with the crypto boom we saw a few years ago, where all the blockchain-related names skyrocketed. There are some other huge investment themes of yesteryear which have recently left the spotlight. Among those are today's Bull of the Day, the 3D printing industry.

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Today's Bull of the Day is Zacks Rank #1 (Strong Buy) Stratasys. Stratasys is a global leader in the 3D printing industry, providing solutions for professional and industrial applications. The company's product portfolio includes 3D printers, materials, software, and services. Stratasys' technology allows customers to create physical objects from digital designs, enabling them to accelerate product development, streamline manufacturing processes, and produce customized products.

The reason for the favorable rank is that several analysts across Wall Street have increased their earnings estimates recently. Over the last sixty days, two analysts have increased their full year earnings estimates. It is next year where the numbers really start to get good though. Next year's Zacks Consensus Estimate of 28 cents represents growth of 91% over the current year.

There has been some recent momentum in earnings, with several reports coming in better than expectations. Last quarter's 7-cent EPS number beat the Zacks Consensus Estimate by 5 cents. That was the latest in a line of earnings beats dating back 9 consecutive quarters.

Growth has slowed on the topline, however. Current year estimates call for a 2.89% contraction to $632.67 million. The good news is, there is a return to growth forecast for next year. Analysts are calling for $669.08 million in sales for FY2024. That represents growth of 5.76% over this year.

Bear of the Day:

With the stock market's breadth overall being as bad as it is, finding a stock to pick on is not all that tough. But the purpose of the Bear of the Day is not to come out here and kick a company when it's down. Nor is it even a commentary on the stock's future potential. Rather, it's more of an autopsy. Sort of a peak behind the curtain to see what exactly has transpired.

Today's Bear of the Day is Zacks Rank #5 (Strong Sell) Conn's. Conn's, Inc. is a specialty retailer that operates a chain of home furniture, mattress, and consumer electronics stores. The company is headquartered in The Woodlands, Texas, and operates more than 150 retail locations across the United States.

Conn's offers a wide range of products for the home, including furniture, mattresses, appliances, TVs, audio equipment, computers, and other consumer electronics. The company's product offerings are aimed at the mid-to-low-end of the market and are designed to appeal to price-sensitive consumers.

In addition to its retail stores, Conn's also offers financing solutions to its customers. The company provides both in-house financing and third-party financing options to help customers purchase the products they need. This financing business has been a key driver of Conn's growth, as it allows the company to generate recurring revenue from interest payments and other fees.

The reason for the unfavorable Zacks Rank is the series of negative earnings estimate revisions coming from analysts. Over the last thirty days, two analysts have cut their earnings estimates for the current year, while one has done so for next year. The bearish moves have dropped our Zacks Consensus Estimate for the current year from a 39-cent loss to a loss of $3.19. Next year's number has swung dramatically from a forecast profit of $1.28 to a loss of $1.75.

Conn's is in the Retail – Consumer Electronics industry which ranks in the Bottom 18% of our Zacks Industry Rank.

Additional content:

Permian Oil Rig Count Up 2 Straight Weeks

In its weekly release, Baker Hughes Company stated that the U.S. rig count was lower than the prior-week tally. The rotary rig count, issued by BKR, is usually published in major newspapers and trade publications.

Baker Hughes' data, issued at the end of every week since 1944, helps energy service providers gauge the overall business environment of the oil and gas industry. The number of active rigs and its comparison with the prior-week figure indicates the demand trajectory for the company's oilfield services from exploration and production companies.

Details

Total U.S. Rig Count Falls: The count of rigs engaged in the exploration and production of oil and natural gas in the United States was 748 for the week ended Apr 14. The figure is lower than the prior week's count of 751. Thus, the tally decreased for three straight weeks. However, the current national rig count is higher than the year-ago level of 693.

The onshore rigs in the week ended Apr 14 totaled 727, lower than the prior week's count of 733. In offshore resources, 20 rigs were operating, higher than the prior week's count of 17.

U.S. Oil Rig Count Falls: The oil rig count was 588 in the week ended Apr 14, lower than the prior-week figure of 590. The current number of oil rigs — far from the peak of 1,609 attained in October 2014 — is up from the year-ago figure of 548.

U.S. Natural Gas Rig Count Declines: Natural gas rig count of 157 is lower than the prior-week figure. The count of rigs exploring the commodity is higher than the prior-year week's tally of 143. Per the latest report, the number of natural gas-directed rigs is 90.2% lower than the all-time high of 1,606 recorded in 2008.

Rig Count by Type: The number of vertical drilling rigs totaled 19 units, higher than the prior-week count of 14 units. The horizontal/directional rig count (encompassing new drilling technology with the ability to drill and extract gas from dense rock formations, also known as shale formations) of 729 is lower than the prior-week level of 737.

Gulf of Mexico (GoM) Rig Count Rises: GoM rig count was 18 units, all oil-directed. The count was higher than the prior-week number of 16.

Rig Count in the Most Prolific Basin

Permian — the most prolific basin in the United States — recorded a weekly oil rig tally of 351, higher than the prior week's count of 348. Thus, the number increased for two straight weeks.

Outlook

The West Texas Intermediate crude price is trading at more than the $80-per-barrel mark, which is highly favorable for exploration and production activities. Solid oil prices will likely pave the way for rig additions despite a slowdown in drilling activities, as upstream players mainly focus on stockholder returns rather than boosting output.

Investors may keep a close eye on energy stocks like EOG Resources and Matador Resources Co., as the companies are expected to benefit from the current healthy oil price scenario.

EOG Resources, currently carrying a Zacks Rank #3 (Hold), is a leading oil and natural gas exploration and production company. It is well-placed to capitalize on the promising business scenario. It has an estimated 11,500 net undrilled premium locations, resulting in a brightened production outlook. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

EOG Resources is strongly committed to returning capital to shareholders. Since it transitioned to premium drilling, the company has returned a handsome amount of cash to stockholders. With the employment of premium drilling, EOG can reduce its cash operating costs per barrel of oil equivalent, thereby aiding its bottom line.

Matador Resources has a strong presence in oil-rich core acres of the Wolfcamp and Bone Spring plays in the Delaware Basin. Promising oil price is likely to aid it in increasing production volumes. Matador acquired Advance Energy Partners Holdings, LLC, which comprises several oil and natural gas-producing properties and undeveloped acreage. MTDR, carrying a Zacks Rank of 3, expects the acquisition to be accretive to important valuation and financial metrics.

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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/performancefor information about the performance numbers displayed in this press release.

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Stratasys, Ltd. (SSYS) : Free Stock Analysis Report

EOG Resources, Inc. (EOG) : Free Stock Analysis Report

Conn's, Inc. (CONN) : Free Stock Analysis Report

Baker Hughes Company (BKR) : Free Stock Analysis Report

Matador Resources Company (MTDR) : Free Stock Analysis Report

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