March's Zacks #1 Rank Top Performers: Lindsay, Kirby, GameStop, MasterCard and CSX Corporation
CHICAGO--(Business Wire)--
Zacks.com announces the list of top performing Zacks #1 Rank
(Strong Buy) stocks for the month of March. The stocks on the
prestigious list with the highest returns last month were Lindsay
Corporation (NYSE: LNN), Kirby Corporation (NYSE: KEX), GameStop
(NYSE: GME), MasterCard, Inc. (NYSE: MA) and CSX Corporation (NYSE:
CSX). Each of these stocks easily outperformed the S&P 500.
Stocks ranked #1 (Strong Buy) by Zacks have produced an average
annual return of +32% since inception in 1988. During the 2000-2002
bear market, Zacks #1 Rank stocks gained 43.8% while the S&P 500
tumbled 37.6%. To learn more about the Zacks Rank, go to
http://at.zacks.com/?id=3172.
Here is a synopsis of the last week's best performing Zacks #1
Rank stocks.
Lindsay Corporation (NYSE: LNN) announced that total revenues for
irrigation equipment increased 62% in its fiscal second quarter,
leading to a strong quarterly report overall and a spot on the Zacks
#1 Rank top performers list for March. Shares of the company gained
30% for the month.
Lindsay reported earnings per share of 79 cents during the
quarter, which soundly surpassed the consensus by more than 132%. It
also marked a solid year-over-year improvement from 21 cents. Total
revenues jumped 70% to $108.4 million. Results include a pair of
recent acquisitions and an increase in income tax expense. Earnings
estimates for this fiscal year, which ends in August 2008, have risen
25% over the past month.
Kirby Corporation (NYSE: KEX) reports its first-quarter results
later this month. The company enjoyed a strong performance in March
with shares up 25%. On Mar 17, KEX announced that first-quarter EPS
should surpass 66 cents, compared to its previous forecast between 57
cents and 62 cents. Analysts boosted their expectations for the
quarter by 9.8% over the past month. The company attributed the higher
forecast to stronger-than-expected demand for its marine
transportation and diesel engine services operations.
For its fourth quarter, Kirby earned 64 cents per share, which
inched past the consensus by about 1.6% and improved handily from the
previous year's 45 cents. This marked its 16th straight quarter of
year-over-year improvement. Meanwhile, consolidated revenues jumped
22% to $307.9 million from $251.4 million. Earnings estimates for the
full year are up 8.7% in the past three months and 4.2% in the past 30
days.
Shares of GameStop (NYSE: GME) rose by 22% during March. A gain of
38.4% in new video game software sales helped the company to another
impressive quarterly performance. Fiscal fourth-quarter earnings per
share of $1.14 surpassed the year-ago result of 82 cents and beat the
consensus by 1.8%. Sales jumped 24.4% to $2.86 billion from $2.3
billion, and same-store sales increased 17.4%
For its fiscal first quarter, the company expects earnings per
share of 32 cents to 33 cents, which was better than the consensus at
the time of 29 cents. Analysts, therefore, responded by raising
expectations for the quarter by more than 17% over the past month. In
addition, GME now projects earnings per share between $2.25 and $2.34
for the fiscal year, compared to the consensus at the time of
approximately $2.20. Estimates for the full year moved higher 7.3%
over the past 30 days. Over the past three months, estimates are up by
more than 13%.
MasterCard, Inc. (NYSE: MA) made the top performers list with a
gain of 17%. The company has an excellent record of beating Wall
Street's quarterly earnings expectations. In the past four quarters,
the company has an average surprise of approximately 23%. Earnings
estimates for this year have been trending higher for a while, gaining
8.2% over the past three months and 1.8% over the past two months.
MA continues to benefit from exposure to growing international
markets. In the fourth quarter, earnings per share of 89 cents,
excluding a gain, topped the consensus by more than 23%. Net revenues
advanced 28% to $1.07 billion. The company attributed results to its
global business model, which helped worldwide purchase volume rise
16.1%.
CSX Corporation (NYSE: CSX) provided guidance for its first
quarter and full year that were above Wall Street predictions, leading
to a 16% advance in shares last month. The market was expecting about
63 cents a month ago, but CSX announced that earnings per share for
the quarter would come in between 74 cents and 77 cents. As a result,
earnings estimates for the quarter are up 17.4% over the past 30 days.
For the full year, EPS are now expected between $3.40 and $3.60,
instead of analysts' earlier prediction of about $3.02. This would
mark an improvement of 24% to 31% from 2007. Earnings estimates for
the year rose by 14.6% in the past month. CSX also decided to raise
its long-term guidance through 2010. The company will announce its
first-quarter results later this month.
About the Zacks Rank
Since 1988, the Zacks Rank has proven that "Earnings estimate
revisions are the most powerful force impacting stock prices." Since
inception in 1988, #1 Rank stocks have generated an average annual
return of +32%. During the 2000-2002 bear market, Zacks #1 Rank stocks
gained +43.8%, while the S&P 500 tumbled -37.6%. Also note that the
Zacks Rank system has just as many Strong Sell recommendations (Rank
#5) as Strong Buy recommendations (Rank #1). Since 1988, Zacks Rank #5
stocks have underperformed the S&P 500 by 131.8% annually (+5.2% vs.
+11.9%). Thus, the Zacks Rank system allows investors to truly manage
portfolio trading effectively.
To view the current Zacks #1 Rank List and to see additional Zacks
Rank resources, go to http://at.zacks.com/?id=3173.
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Visit http://www.zacks.com/performance for information about the
performance numbers displayed in this press release.
Disclaimer: Past performance does not guarantee future results.
Investors should always research companies and securities before
making any investments. Nothing herein should be construed as an offer
or solicitation to buy or sell any security.
Zacks.com
Jim Giaquinto
312-265-9268
pr@zacks.com
www.Zacks.com
Copyright Business Wire 2008
