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): Old Dominion Freight Line (Nasdaq: ODFL) and The Empire District Electric Co. (NYSE: EDE). Further, Zacks announced #4 Rankings (Sell) on two other widely held stocks: Bunge Limited (NYSE: BG) and Capital City Bank Group, Inc. (Nasdaq: CCBG). 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 ODFL and EDE 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:
Old Dominion Freight Line (Nasdaq: ODFL) reported a 22% slump in third-quarter revenues to $322.8 million. On Oct 22, the company reported earnings of 22 cents per share, falling short the Zacks Consensus Estimate by almost 13%. The EPS results marked a 55% year-over-year decrease. The current-year average forecast is down to 93 cents per share from $1.01 in the last 7 days, reflecting cuts by 11 out of 14 analysts.
The Empire District Electric Co.’s (NYSE: EDE) third-quarter earnings per share of 43 cents, reported on Oct 23, came in 33% behind analysts’ expectations. The company recorded total revenues of $128.1 million for the quarter, down from $138.7 million in the year-ago period. The Zacks Consensus Estimate for the current year fell to $1.36 per share from $1.45 over the past week as 2 out of 3 analysts reduced estimates.
Here is a synopsis of why BG and CCBG 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;
Bunge Limited (NYSE: BG) recently lowered its full-year earnings guidance to a range of $3.10 to $3.50 per share, from a prior forecast of $4.90 to $5.40. The Zacks Consensus Estimate is currently $3.24 per share. Last week, Bunge reported third-quarter profit of 94 cents per share that lagged analysts’ projections by 38%.
Capital City Bank Group Inc. (Nasdaq: CCBG) posted a third-quarter loss of 8 cents per share on Oct 20 while analysts expected earnings of one cent. In the year-ago period, the company’s earnings per share stood at 29 cents. The Zacks Consensus Estimate for the current year is pegged at a loss of 4 cents per share, compared to a profit of 7 cents a week ago. Five out of 8 analysts cut back on estimates 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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