Tuesday, 21 March 2023

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Best Stocks to Beat the Market, 3/17/23 – TipRanks Financial Blog

Best Stocks to Beat the Market, 3/17/23 – TipRanks Financial Blog

TipRanks offers a very easy and quick solution to find stocks that have a greater chance to generate returns higher than market averages – Top Smart Score Stocks. This tool measures the stock’s potential based on eight key factors and assigns a score between 1 and 10. It is worth mentioning that stocks with a “Perfect 10” Smart Score have historically outperformed the S&P 500 Index (SPX) by a wide margin.

Using this tool, we’ve shortlisted two stocks carrying the highest Smart Score – Verizon (NYSE:VZ) and NextEra Energy (NYSE:NEE). Let’s take a deeper look at these two companies.

Verizon Communications, Inc. 

The telecom giant Verizon was added to the Perfect 10 list yesterday. Our data shows hedge funds are currently bullish on the stock as they bought 2.7 million shares of the company last quarter. The stock also exhibits Bullish bloggers and Positive news sentiment. Further, VZ stock has a Positive signal from retail investors. On the fundamentals side, it has generated a 24.5% return on equity (ROE) over the trailing 12 months.

The company continues to expand its 5G Ultra-Wideband network, which is expected to support its revenue growth going forward. Also, its growing net postpaid phone customers and broadband subscribers base is encouraging. Furthermore, the stock’s dividend yield of 7.1% attracts the attention of income investors. Verizon has raised dividends for 18 consecutive years.

Is VZ Rated a Buy?

VZ stock has a Moderate Buy consensus rating on TipRanks. This is based on four Buy and seven Hold recommendations. The average price target of $44.91 implies 22.8% upside potential from current levels.

NextEra Energy, Inc.

Energy company NextEra was assigned the top-notch score last month due to its strong metrics. This includes 89% bullish blogger sentiment and Very Positive crowd wisdom. Also, hedge funds increased their holdings of the stock by 1.1 million shares in the last quarter. Moreover, corporate insiders bought the company’s shares worth $2.9 million in the past three months. Finally, NextEra’s ROE of 10.9% points to its efficiency.

NextEra is well poised to benefit from the growing demand for renewable energy. In addition, the company’s move to capitalize on the decarbonization trend might drive performance in the long term. The company aims to raise the dividend by 10% every year through at least 2024. More importantly, NextEra’s payout ratio of…

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