When it comes to investing in income stocks, the search for high-quality companies with strong returns can often feel like tracking down a rare unicorn. Yet, for investors eyeing the market on February 20th, two equities have emerged as potential top picks – Federated Hermes and WD40.
Federated Hermes: A Champion in Investment Management
Federated Hermes, often lauded for its world-class active investment management and engagement services across diverse asset classes, holds a compelling position in the market. The Zacks Consensus Estimate for its current year earnings has seen a noteworthy 2.6% surge over the last 60 days. This suggests promising growth and stability in its income potential.
This Zacks Rank #1 (Strong Buy) company offers a substantial dividend yield of 3.2%, outshining the industry average of 3.1%. Such a robust dividend yield positions Federated Hermes as an enticing income stock pick for diligent investors.
WD40: An Innovative Force in Global Markets
Meanwhile, WD40, a global marketing organization dedicated to creating memorable solutions for various workplaces and homes worldwide, stands as another worthy contender. With the Zacks Consensus Estimate for its current year earnings witnessing a solid nearly 0.6% increase over the past 60 days, WD40 presents an outlook for sustainable income generation.
As a Zacks Rank #1 company, WD40 offers a commendable dividend yield of 1.4%, surpassing the industry average of 0.0%. This demonstrates the company’s potential to provide consistent income for prudent investors.
For investors seeking to explore additional income stock opportunities, the complete list of top-ranked stocks could provide further insights. Moreover, utilizing premium screens can aid in identifying potential candidates for a well-rounded income stock portfolio.
Stay Ahead of the Game with Zacks Top 10 Stocks for 2024
For those seeking to gain a foothold in the market’s most promising offerings ahead, the Zacks Top 10 Stocks for 2024 holds substantial appeal. Hand-picked by Zacks Director of Research, Sheraz Mian, this portfolio has exhibited remarkable success, outperforming the S&P 500 by a significant margin.
Further recommendations from Zacks Investment Research can also provide valuable insights for investors looking to refine their income stock portfolio.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
