As Wall Street temperature cools and a potential pullback lingers in the air, investors are on the lookout for stocks that can weather the storm and navigate the finicky market waters. With the start of the second quarter looming, the hunt is on for top-ranked stocks that have a proven track record of efficiently generating profits.
Economic indicators are pointing towards a market possibly teetering on the brink of overheating, particularly in the realm of Artificial Intelligence. The upcoming quarterly earnings season could serve as the litmus test for Wall Street’s next moves.
The Federal Reserve, on the other hand, has given a bullish sign to the market by hinting at the possibility of three rate cuts in 2024. This signal has provided the bulls with the needed ammunition to keep charging forward.
Amidst all the market noise, the focus remains on identifying Zacks Rank #1 (Strong Buy) stocks with solid fundamentals – one of which is EZCORP (EZPW), a leading provider of pawn loans in the U.S. and Latin America.
Return on Equity (ROE) is a key metric indicating a company’s ability to create value and manage costs efficiently. EZCORP has been on a stellar revenue trajectory, with a 19% increase in fiscal 2023 and a 22% rise in FY22.
Boasting an impressive Q1 fiscal 2024 EPS beat by 24%, EZCORP’s upbeat guidance has secured its Zacks Rank #1 (Strong Buy) rating.
Despite a robust 27% YTD surge in its shares, EZCORP still trades significantly below its average Zacks price target, presenting a potential opportunity for investors looking to capitalize on the stock’s growth trajectory.
Zacks’ Super Screen Exposed
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And remember, the views and musings expressed herein are a testament to the author’s unique perspective and do not necessarily echo the sentiments held by the venerable halls of Nasdaq, Inc.
