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IBD Screen Of The Day: Analysts Raise Profit Estimates On These Top Ranked Stocks

Using IBD’s Rising Profit Estimates screen, investors can find stocks with the greatest growth potential. These are some of names currently making the list that are at the top of their respective IBD groups.




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Shares of Clean Harbors (CLH) are trading right around a 110.77 buy point after breaking out of a cup with handle last week. The waste management services company has been outperforming its peers and ranks first in IBD’s pollution control industry group.

Impressive earnings growth is the main reason for this outperformance. The company has a strong three-year earnings growth rate of 39%. This growth rate is expected to accelerate even further, with EPS growth projected to increase to 69% for the first quarter.

Clean Harbors shares displayed further strength on a report last month that Waste Management (WM) is looking into the potential acquisition of the company. The interest comes as Waste Management ponders an expansion into more environmentally friendly disposal solutions.

Top REIT Rexford Industrial’s Earnings Estimates

For investors looking to dip into real estate, there’s a strong choice in Rexford Industrial Realty (REXR). The industrial REIT — with a portfolio of properties in Southern California — has shown strong growth. Funds from operations (FFO) rose 12% in Q1 of 2021, followed by gains of 22%, 30% and 32% to end the year.

Rexford will report results on April 20, with FFO growth expected to slow to 9% for Q1 and to 15% for 2022 vs. year-ago numbers.

Currently in top place in IBD’s Finance Property REIT group, Rexford places above 175 other stocks. Shares are currently in a smooth cup base with an 81.78 buy point.

Synopsys Raises Profit Outlook on Chip Demand

Semiconductor design and verification stock Synopsys (SNPS) has been displaying strong growth with a three-year EPS growth rate of 26%. Strong demand saw Synopsys raise 2022 guidance further in the company’s most recent earnings call.

EPS of $6.84 last year is expected to increase to $7.91 and $9.20 in 2022 and 2023, respectively. Strong growth has led Synopsys to lead IBD’s consumer software group. It boasts a strong IBD Composite Rating of 97.

Tuesday, Synopsys and Juniper Networks (JNPR) announced a partnership to form a new silicon photonics company aiming to take advantage of the rapidly expanding photonics market.

Synopsys stock is forming a cup pattern with a 377.70 buy point, per MarketSmith.

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