With third-quarter earnings about to take the center stage, a rosy second half of 2015 as well as continued momentum in 2016 seem to be far-fetched notions.

Stock market volatility continues unabated and the overall picture is gloomy under the collective effect of the strong U.S. dollar, weakness in the energy sector and the bleak global growth backdrop.

Indeed, adverse economic conditions around the globe, heightened market volatility and low inflation were the reasons behind Federal Reserve’s decision against the interest rate hike in the near term from its current near-zero level. This decision comes as a surprise at a moment when the steady decline in the U.S. unemployment rate and a marked increase in domestic spending were paving way for a Fed rate hike.

Though the Fed’s announcement has put speculations to rest for now, was the decision a wise one? Only time will tell.

Meanwhile, the recent slump in the Chinese economy has disturbed the equilibrium of global markets with all major indices taking a beating. Notably, the S&P 500 and Dow Jones Industrial Average have declined about 8.5% and 10%, respectively, year to date. The loss of momentum in the Eurozone economy has added to the woes.

What’s Best for the Investors?

Stock markets as tumultuous as this take a toll on investors. Nevertheless, rather than fretting, investors should focus on reshuffling their portfolios instead.

With the stock market being in a correction mode, now’s the time to look for the best value bargains as they hold much promise. This is because, disorderly periods like this provide some of the finest buying opportunities and investors could capitalize from market corrections and beaten-down markets to procure quality value stocks at economical rates.

Additionally, if the selected stocks show trends of earnings growth ahead, that’s more than you can possibly ask for at this juncture.

4 Stocks to Put Your Money Into

With the help of the Zacks Stock Screener, we have zeroed-in on four stocks that flaunt a solid Zacks Rank and estimated earnings per share (EPS) growth (F1/F0) of over 100% for this year.

Further, our new style score system, aided us in the value picks. Our Value Style Score condenses all valuation metrics into one actionable score that helps investors steer clear of ‘value traps’ and identify stocks that are truly trading at a discount. Back-tested results show that stocks with Style Scores of ‘A’ or ‘B’ when combined with a Zacks Rank #1 (Strong Buy) or #2 (Buy) offer the best upside potential.

Here we present four such stocks that are nice additions for your portfolio at this point:

Trinseo SA (TSE - Snapshot Report): This company – a Zacks Rank #1 stock – manufactures and markets various emulsion polymers and plastics. Trinseo is set to benefit from its incessant efforts to control costs. The company is particularly focused on its Performance Materials segment as it expects to sustain its performance and generate healthy returns in 2016 as well. The growth drivers include continued positive mix shift and higher volumes in rubber as well as modest volume growth at Performance Plastics.

Value Score: A
P/E: 5.44 (versus 10.29 for the industry)
This year’s expected EPS growth rate: 2,535.6% (versus industry average of 56.6%)

Adding to the positives, the stock witnessed significant upward estimate revisions which reinstate hope on its prospects. The Zacks Consensus Estimate for 2015 climbed 15% to $4.74 per share over the past two months.

Rentech, Inc. (RTK - Snapshot Report): Based in Los Angeles, CA, Rentech offers a comprehensive range of integrated fiber services, including wood chipping, operations, marketing, trading and vessel loading. Annually, the company processes roughly 15 million tonnes of wood and bark into high quality wood chips and residual fuels. Interestingly, the clean energy market is expected to witness a sharp upward curve. Naturally, the biofuel firms appear to be one of the top performers in the industry with its clean energy pledge.  

Value Score: A
P/E: 4.69 (versus 11.61 for the industry)
This year’s expected EPS growth rate: 187.5% (versus industry average of 23.2%)

It is also worth noting that in the last four quarters, this Zacks Rank #1 company delivered an average positive earnings surprise of 550%. Additionally, the company’s estimates have been moving north over the past two months, which has lifted its 2015 Zacks Consensus Estimate for earnings from a loss of 40 cents per share to earnings of $1.40 per share.

United Continental Holdings, Inc. (UAL - Analyst Report): Chicago-based, United Continental is the holding company for both United Airlines and Continental Airlines. United Continental, like many of its peers, is benefiting from low fuel costs as it accounts for a major chunk of airlines’ operating costs. Further, the expansion of its global and domestic route network and rollout of several value-added services should propel growth.

Value Score: A
P/E: 4.78 (versus 9.82 for the industry)
This year’s expected EPS growth rate: 122% (versus industry average of 62.7%)

Over the last four quarters, this Zacks Rank #2 company has recorded an average positive earnings surprise of 3.88%. Moreover, the stock has been witnessing positive estimate revisions over the past two months, leading the Zacks Consensus Estimate to climb 3.8% to its present level of $11.23 a share for the current year.

Danaos Corporation (DAC - Snapshot Report): This Zacks Rank #2 company is a leading international provider of containerships, chartering vessels to many of the world's largest liner companies. Going forward, we expect Danaos’ efforts to de-lever its balance sheet, efficient management of its fleet and relentless focus to capitalize on the strength of its business model will consistently boost the company’s earnings potential and capital position.   

Value Score: A
P/E: 4.55 (versus 8.51 for the industry)
This year’s expected EPS growth rate: 137.6% (versus industry average of 35.9%)

Notably, the company has been topping earnings expectations over the last four quarters, at an average of 32.56%. Moreover, the company has been witnessing upward earnings estimate revisions. Over the past two months, current year estimates have risen from $1.18 per share to $1.31.

To Conclude

Evidently, in the world of finance, earnings is both literally and figuratively ‘the bottom line.’ Naturally, earnings growth is a healthy indication of whether a company is on the track to provide solid returns to investors.

Thus, instead of brooding over the global macro issues, it’s time for investors to strike some good deals and invest in these stable and reliable stocks that are set to double earnings this year.