Yahoo Finance 3 Top-Rated Stocks to Buy for International Exposure as Earnings Approach
Diversification is often seen as a key point for success when it comes to investing. To that point, several top-rated Zacks stocks are reporting their quarterly results this week that offer valuable international exposure.
After recently hitting their 52-week highs in late April, here are three of these stocks investors may want to consider as earnings approach.
Coty (COTY)
Set to report its fiscal third-quarter earnings on Tuesday, May 9, cosmetic supplier Coty Inc is standing out with a Zacks Rank #2 (Buy).
Coty offers global exposure to the cosmetics space as a worldwide distributor of beauty products with the Cosmetic Industry in the top 43% of over 250 Zacks industries.
Trading at $12 per share, annual earnings estimate revisions have remained higher throughout the quarter and are starting to support Coty’s attractive stock price.
Intriguingly, fiscal 2023 earnings are now projected to soar 36% at $0.38 per share compared to EPS of $0.28 in 2022. Plus, fiscal 2024 earnings are forecasted to jump another 12% as Coty’s bottom line pushes towards its 2019 pre-pandemic levels.
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International Gaming Technology (IGT)
Boasting a Zacks Rank #1 (Strong Buy) International Gaming Technology's stock is very attractive going into its first-quarter earnings report on May 9.
IGT’s Gaming Industry is also in the top 28% of all Zacks industries with the company providing casino-style gaming equipment in the United Kingdom, Rome Italy, Las Vegas Nevada, and Providence Rhode Island.
Notably, IGT’s price-to-earnings valuation stands out at the moment despite fiscal 2023 earnings expected to dip -21% at $1.57 per share after an impressive year to follow. Plus, FY24 earnings are projected to rebound and rise 14% at $1.79 per share.
Trading at $27 per share, IGT trades at 17.5X forward earnings which is nicely beneath its industry average of 21.9X and the S&P 500’s 19X. Even better, IGT trades well below its absurd decade-long high of 490.3X and closer to the median of 15X with the company seeing expansive bottom-line growth in recent years.
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Copa Holdings (CPA)
Set to report its first-quarter earnings on Wednesday, May 10, Copa Holdings stock is an American Depository Receipt (ADR) that investors should consider.
Copa currently sports a Zacks Rank #2 (Buy), and its Transportation-Airline Industry is in the top 20% of all Zacks industries as global travel demand is expected to be higher.
As for Copa, the company offers valuable exposure to the Latin American economy and travel industry. Headquartered in Panama, Copa operates approximately 204 daily scheduled flights to over 69 destinations in North, Central, and South America and the Caribbean.
Trading at $93 per share, Copa's earnings estimate revisions have continued to trend higher. Copa’s fiscal 2023 earnings are now forecasted to climb 44% this year at $11.92 per share compared to EPS of $8.26 in 2022. Fiscal 2024 earnings are expected to rise another 2%. More intriguing, over the last quarter, FY23 and FY24 earnings estimates have now risen 15% and 5% respectively.
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Takeaway
These stocks offer a mix of valuable international exposure to strong business industries at the moment. Their quarterly reports will be important for more upside, but Coty Inc, International Gaming Technology, and Copa Holdings are starting to look like viable investments for 2023 and beyond.
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International Game Technology (IGT) : Free Stock Analysis Report
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