CHICAGO - (Business Wire) Zacks.com releases details on a group of stocks that are currently members of the exclusive Zacks #5 Rank List – Stocks to Sell Now. These stocks are currently rated as a Zacks Rank #5 (Strong Sell): Calumet Specialty Products Partners, L.P (Nasdaq: CLMT) and Westar Energy, Inc. (NYSE: WR). Further, Zacks announced #4 Rankings (Sell) on two other widely held stocks: Agnico-Eagle Mines Ltd. (NYSE: AEM) and Fuel Tech Inc. (Nasdaq: FTEK). To see the full Zacks #5 Rank List - Stocks to Sell Now visit: http://at.zacks.com/?id=92. Since inception in 1988, the S&P 500 has outperformed the Zacks #5 Rank List of Stocks to Sell Now by 80% annually (+2% vs. +10%). While the rest of Wall Street continued to tout stocks during the market declines of the last few years, Zacks told investors which stocks to sell or avoid.
Here is a synopsis of why CLMT and WR have a Zacks Rank of #5 (Strong Sell) and should most likely be sold or avoided for the next one to three months. Note that a #5 Strong Sell rating is applied to 5% of all the stocks in the Zacks Rank universe:
Calumet Specialty Products Partners, L.P (Nasdaq: CLMT) reported a third-quarter profit of 12 cents per share on Nov 4, marking a 52% year-over-year decline. The company’s earnings per share missed the Zacks Consensus Estimate by 14 cents. Quarterly sales slumped to $492.43 million from last year’s $724.37 million. The current-year average forecast is down to $1.38 per share from $1.45 in the last 30 days.
Westar Energy, Inc.’s (NYSE: WR) third-quarter earnings per share of 74 cents, reported last month, came in 3 cents behind analysts’ expectations. In the year-ago period, the company had earned a profit of 80 cents per share. Westar Energy recorded an 8.8% drop in quarterly revenues to $528.5 million. The Zacks Consensus Estimate for the current year is now $1.41 per share, down from $1.73 over the past 2 months.
Here is a synopsis of why AEM and FTEK have a Zacks Rank of 4 (Sell) and should also most likely be sold or avoided for the next one to three months. Note that a #4 Sell rating is applied to 15% of all the stocks ranked by Zacks;
Agnico-Eagle Mines Ltd. (NYSE: AEM) recently slashed its full-year production guidance to 500,000 ounces of gold from its prior range of 550,000 and 575,000 on the back of operational issues at its new mines. Last month, Agnico reported third-quarter earnings of 4 cents per share that lagged analysts’ projections by 80%. The Zacks Consensus Estimate for 2009 slipped to 65 cents per share from 71 cents over the past month as 4 analysts out of 11 cut back on estimates.
Fuel Tech Inc. (Nasdaq: FTEK) posted a third-quarter loss of 6 cents per share on Nov 5 while analysts expected earnings of 2 cents. The company’s earnings per share stood at 9 cents in the year-ago period. The Zacks Consensus Estimate for the current year is pegged at a loss of 14 cents per share, compared to loss of 2 cents, projected a week ago. Eight out of 9 analysts reduced their expectations at that time.
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About the Zacks Rank
Since 1988, the Zacks Rank has proven that "Earnings estimate revisions are the most powerful force impacting stock prices." Since inception in 1988, #1 Rank Stocks have generated an average annual return of +27%. During the 2000-2002 bear market, Zacks #1 Rank stocks gained +43.8%, while the S&P 500 tumbled -37.6%. Also note that the Zacks Rank system has just as many Strong Sell recommendations (Rank #5) as Strong Buy recommendations (Rank #1). Since 1988, Zacks Rank #5 stocks have significantly underperformed the S&P 500 (-0.9% versus +9%). Thus, the Zacks Rank system allows investors to truly manage portfolio trading effectively.
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