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Don't Overlook These 2 Top-Rated Stocks Before Earnings It's Time to Buy

Other more well-known names will be reporting their quarterly results this week, but Dorian LPG (LPG) and Titan Machinery (TITN) are two stocks that investors will want to pay attention to.

Let’s see why now may be a good time to buy Dorian LPG and Titan Machinery stock as their quarterly reports approach on May 24 and 25 respectively.

Dorian LPG Q4 Preview

Sporting a Zacks Rank #1 (Strong Buy) Dorian LPG is expected to release its fiscal fourth-quarter results on Wednesday, May 24. Dorian LPG's Transportation-Shipping Industry is also in the top 47% of over 250 Zacks industries.

Trading around $23 a share, Dorian LPG's stock has edged toward 52-week highs and is benefiting from its strong business industry as a liquified petroleum gas shipping company. Dorian LPG is primarily focused on owning and operating Very Large Gas Carriers (VLGCs).

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Fiscal fourth-quarter earnings are expected to soar 232% from the prior-year quarter at $2.06 per share compared to EPS of $0.62 in Q4 2022. Sales are projected to be up 74% year over year at $138.96 million.

The Zacks Expected Surprise Prediction (ESP) indicates Dorian LPG should reach its Q4 earnings expectations with the Most Accurate Estimate also having EPS pegged at $2.06.

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Zacks Investment Research


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Titan Machinery Q1 Preview

With a Zacks Rank #2 (Buy) Titan Machinery is set to release its first-quarter earnings on Thursday, May 25 with its Automotive-Retail and Whole Sales Industry in the top 40% of all Zacks industries.

Titan Machinery stock trades at $34 a share and still 28% from its 52-week highs with its outlook and business environment starting to strengthen. Titan Machinery operates a diversified mix of agricultural, construction, and consumer products dealerships located in the midwestern United States.

First-quarter earnings are expected to jump 26% YoY at $1.00 per share compared to EPS of $0.79 in Titan Machinery's fiscal Q1 2023. Sales for Q1 are projected to be $585.59 million and up 27% from the prior-year quarter. The Zacks ESP also indicates Titan Machinery should reach its Q1 earnings expectations.

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Zacks Investment Research


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Earnings Outlook

Based on Zacks estimates, Dorian LPG’s earnings are now forecasted to skyrocket 226% this year at $4.34 per share compared to EPS of $1.33 in 2022. Fiscal 2024 earnings are projected to cool off and decline -20% at $3.47 per share after what would be a very tough year to follow.

With that being said, earnings estimate revisions have soared for both FY23 and FY24 over the last two months which is a strong indication that Dorian LPG could offer better-than-expected guidance during its Q4 report.  

Zacks Investment Research
Zacks Investment Research


Image Source: Zacks Investment Research

Looking at Titan Machinery, earnings are projected to jump 8% in its current fiscal 2024 and rise another 2% in FY25 at $4.98 per share. Notably, fiscal 2025 projections represent a very impressive 295% EPS growth over the last five years with 2021 earnings at $1.26 per share.  

Zacks Investment Research
Zacks Investment Research


Image Source: Zacks Investment Research

Takeaway

Dorian LPG and Titan Machinery stock are very intriguing at the moment. Along with the anticipation of strong quarterly reports, it’s quite possible these companies may offer positive guidance when looking at their earnings outlook and this could lead to more upside in shares of LPG and TITN. 

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Titan Machinery Inc. (TITN) : Free Stock Analysis Report

Dorian LPG Ltd. (LPG) : Free Stock Analysis Report

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Zacks Investment Research