Three Stocks Added to Zacks Rank #5 (Strong Sell) List

A recent report highlights three stocks downgraded to Zacks Rank #5 (Strong Sell). Carter Bankshares, Amkor Technology, and Caleres have seen significant downward revisions in their earnings estimates, indicating potential challenges ahead for these companies and their stock prices.

Date: 16-09-2024

AI Rating: 4

The report identifies three companies, Carter Bankshares (CARE), Amkor Technology (AMKR), and Caleres (CAL), that have been added to the Zacks Rank #5 (Strong Sell) List. This indicates a negative outlook for these companies, primarily driven by downward revisions in their earnings estimates.

Earnings Per Share (EPS): The Zacks Consensus Estimate for Carter Bankshares' current year earnings has been revised 68.8% downward over the last 60 days. Similarly, Amkor Technology has experienced a 12.5% downward revision in its earnings estimate, while Caleres has seen an almost 8.2% downward revision.

Such significant downward revisions in earnings estimates are strong indicators of potential challenges these companies may face, possibly affecting their ability to generate sufficient profit, manage costs effectively, and return value to shareholders. Investors may view these revisions negatively, as they challenge the financial stability and growth prospects of these companies.

With these negative earnings trends, stock prices for these companies may experience downward pressure as investors reassess their valuations in light of the current earnings outlook.

Stocks: CARE AMKR CAL