Zacks Commentary: Zacks 1 Rank Top Performers
Article by Jim Giaquinto
Zacks Commentary: Zacks 1 Rank Top Performers - Finance
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The five best performing stocks on the Zacks #1 Rank List last week were: The Mosaic Company (MOS), Agrium Inc. (AGU), Massey Energy Company (MEE), NCI Building Systems, Inc. (NCS) and First Solar, Inc. (FSLR).The Mosaic Company (MOS) returned to the Zacks #1 Rank Top Performers List last week with a gain of almost 15%. Earnings estimates for the producer of concentrated phosphate and potash crop nutrients continue to move higher, especially for fiscal 2009. Expectations for the year ended May 2008 are up 3.3% in two months, but estimates for the year ending May 2009 have advanced 35%, including a rise of almost 4% in just the past seven days. The company, and its industry, moved higher last week due to high demand, especially rising corn prices.Mosaic believes its fiscal fourth-quarter results, scheduled for release late next month, will be "robust," thanks to strong demand and tight supply. The company has beaten Wall Street's quarterly earnings estimates for four consecutive quarters. In its fiscal third quarter, earnings per share of $ 1.17 topped the consensus by about 36% while easily improving on the year-ago performance. Net sales jumped 68% year over year to $ 2.1 billion.Agrium Inc. (AGU) raised its second-quarter earnings per share guidance last week, leading to an all-time high for the fertilizer company and a gain of about 12%. The company now expects EPS between $ 2.80 and $ 3 for the year, thanks to strong results from its Retail and Wholesale operations. Previously, the company was expecting $ 1.92 to $ 2.22. MOS stated that continued strong global crop prices have created unprecedented demand for crop inputs, and it expects an extended demand-driven cycle.At the time of the announcement, analysts were anticipating $ 2.50 for the quarter. Therefore, over the past seven days, estimates have jumped by 30 cents, or 12%. Expectations for the full year are up 26% in two months, including a percentage point in the past seven days. In addition, analysts expect next year's earnings to be about 26% better than this year's, which is an encouraging trend for the future.Massey Energy Company (MEE), which will soon replace OfficeMax in the S&P 500, made the Zacks #1 Rank Top Performers List for a second straight week as shares rose 11.5%. In the previous week, shares were up 13.6%. Earnings estimates for this year advanced 34% over the past two months. Furthermore, analysts expect next year's expectations to be about 41% better than this year's.Coal prices have been moving sharply higher, providing a boost to companies in the industry such as MEE. In its first quarter, earnings per share of 52 cents trounced the consensus by 62.5%, while produced coal revenue was up 4.5%. Massey Energy was very active during
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