3 Finance Stocks To Consider As Earnings Approach

So far, 73% of the companies in the Zacks Finance sector have been able to surpass their quarterly earnings expectations led by JPMorgan (JPM), Citigroup (C), and other big banks.

With JPMorgan and Citigroup optimistically kicking off the first quarter earnings season for financials, many finance stocks moved higher again today. Furthermore, several top-rated finance stocks are standing out ahead of their Q1 reports on Monday, April 22, and now may be a good time to buy.

Brown & Brown (BRO)

Offering a broad range of insurance products and services, Brown & Brown’s stock looks attractive with its operations primarily in the United States, as well as in London, Bermuda, and the Cayman Islands.

Brown & Brown’s Q1 EPS is projected to climb 24% to $1.04 versus $0.84 a share in the prior year quarter. Quarterly sales are expected to rise 8% to $1.21 billion. Even better, annual earnings are forecasted to jump 26% in fiscal 2024 to $3.55 per share. Plus, another 8% EPS growth is anticipated next year and high single-digit growth is anticipated on Brown & Brown’s top line in FY24 and FY25.

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Equity Lifestyle Properties (ELS)

One REIT to watch on Monday is Equity Lifestyle Properties which runs a self-administered portfolio of home sales and rental operations including manufactured homes and recreational vehicle communites and marinas.

Equity Lifestyle’s Q1 earnings are slated to increase 4% to $0.77 a share with sales projected to rise 5% to $389.49 million. Overall, 5% EPS growth is expected in FY24 with FY25 earnings forecasted to rise another 6% to $3.08 per share.Total sales are anticipated to increase by single digits in FY24 and FY25 and Equity Lifestyle’s 3.06% annual dividend is starting to look more attractive to income investors. To that point, Equity Lifestyle has increased its payout in each of the last five years with a 9.72% annualized dividend growth rate during this period.

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Globe Life (GL)

As an insurance holding company, Globe Life’s Q1 EPS is projected to rise 10% to $2.80 per share with sales expected to rise 5% to $1.43 billion. Globe Life’s subsidiaries include insurance companies that market individual life and supplemental health insurance to lower-middle to middle-income households throughout the U.S.

Globe Life is expecting 8% EPS growth in FY24 and FY25. Total sales are projected to rise 5% this year and then edge up another 4% in FY25 to $6.1 billion. More intriguing, Globe Life is starting to look extremely undervalued at a 5.6X forward earnings multiple and offers a 1.48% annual dividend.

Zacks Investment Research

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With Brown & Brown, Equity Lifestyle Properties, and Globe Life thought to have posted sound quarterly growth during Q1 they are certinaly three finance stocks to watch. At the moment, they all land a Zacks Rank #2 (Buy) and it wouldn’t be surprising if their stocks move higher next week if they can reconfrim a favorable outlook. 

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