Don’t miss these top-rated pre-earnings stocks

Two stocks worth investors’ attention included in their first quarter earnings reports on Friday, April 28 are Colgate-Palmolive ( CL) and the Tree of Wisdom (WT).

With Colgate and WisdomTree shares currently sporting a Zacks Rank of #2 (Buy), let’s see what’s in store for these companies ahead of earnings.

Colgate Q1 Preview

Known for its famous toothpaste brand, Colgate is a global leader in the oral care market. Colgate’s first-quarter earnings are expected to decline slightly by -5% year over year at $0.70 per share. However, the Zacks Expected Surprise (ESP) Estimate indicates that Colgate could beat earnings expectations, with the most accurate estimate calling for first-quarter EPS of $0.71.

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First-quarter sales are forecast to increase 5% from the prior-year quarter to $4.62 billion. Total sales are forecast to grow 5% this year and another 4% in FY24 to $19.73 billion. Annual earnings are forecast to increase 5% in FY23 and increase another 10% in FY24 to $3.41 per share.

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WisdomTree Q1 Preview

Moving to WisdomTree, the company offers diversified exchange-traded products including digital funds and tokenized assets, as well as blockchain-native digital wallets.

Solid year-over-year earnings and profit growth are expected, despite Q1 earnings forecast to decline -44% YoY to $0.05 per share compared to EPS of $0.09 in the prior-year quarter. Still, the Zacks ESP indicates that WisdomTree is expected to meet first-quarter earnings expectations, with the most accurate estimate also showing EPS of $0.05.

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First-quarter sales are forecast to increase 1% year-over-year to $79.27 million. Total sales are projected to grow 12% in FY23 and increase another 13% in FY24 to $382.47 million. Moreover, WisdomTree’s annual earnings are currently expected to grow 15% this year and grow another 18% in FY24 at $0.35 per share. Additionally, earnings estimate revisions have trended upward over the last 30 days.

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To go

The year-over-year revenue and earnings growth expected for Colgate and WisdomTree makes it quite likely that they will provide positive guidance in their first-quarter reports.At the moment, Colgate and WisdomTree shares carry a Zacks Rank of “A” for Momentum, in addition to their Zacks Rank #2 (Buy).

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Colgate-Palmolive Company (CL): Free Stock Analysis Report

WisdomTree, Inc. (WT): Free stock analysis report

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