These 4 stocks have earnings momentum into their reports next week

Published Fri, May 3 20241:33 PM EDTUpdated Fri, May 3 20241:50 PM EDT

Analysts are boosting their estimates for a handful of companies that are set to report quarterly results next week. The first-quarter earnings season has so far led to better-than-expected results. About 80% of S & P 500 companies have reported quarterly results, and of these, roughly 77% have posted earnings that have beaten estimates, according to FactSet. CNBC Pro screened FactSet data to find stocks poised for upside, as well as stocks that have also seen analysts increase their estimates on earnings per share. The stocks below have seen analysts raise their earnings estimates by more than 5% over the past three months, and Wall Street has also raised its consensus price targets by more than 20% over that same period. Entertainment giant Walt Disney has jumped more than 25% in 2024. Analysts have increased their three-month earnings per share estimates by nearly 8%, while average price targets have climbed 23.3%. Consensus price targets from analysts polled by FactSet imply roughly 11% upside ahead for Disney. DIS YTD mountain Disney stock. The company will report quarterly results on May 7. Last month, Wells Fargo analyst Steven Cahall upped his price target on Disney to $141. He also highlighted the potential for the company to refocus on margins within its direct-to-consumer business, thanks to Disney winning its proxy battle. Rideshare company Uber has also drawn increased investor optimism ahead of quarterly results on May 8 . Analysts have increased their earnings estimates on the stock by more than 10% over the past three months, while consensus price targets have ticked up nearly 30% over the three months. Analysts polled by FactSet estimate that Uber has more than 26% upside ahead. UBER YTD mountain Uber Technologies stock. Uber has added about 14% in 2024. Bank of America analyst Justin Post expects the company to surpass Wall Street estimates and issue better-than-expected second-quarter guidance. "We think Uber remains one of the best large cap growth stories in the sector (high-teens for revenues, 30%+ for EBITDA) and is attractively valued," he said in an April 29 note. Constellation Energy has received the most robust amount of analyst optimism on the list. Analysts have increased earnings estimates and price targets over the past three months by nearly 15% and 45%, respectively. The utility company is expected to report on May 9. CEG YTD mountain Constellation Energy stock. "CEG has laid out a convincing growth algorithm, underpinned by the existing policy framework and trends, which we think offers much more clarity, and solidly positions CEG as one of the premium infrastructure names in our coverage," KeyBanc analyst Sophie Karp wrote in a Feb. 27 note.