Analysts are getting bullish on these companies reporting earnings this week

Earnings season may have passed its peak, but there are still plenty more names left to report and many are seeing momentum from Wall Street into their results. This earnings season has largely beaten expectations. Nearly 80% of the S & P 500 companies that have reported their second-quarter results have reported an earnings beat, according to FactSet. Retail and restaurant companies will begin to announce their earnings this week, including Ralph Lauren and Wendys. Media giants Paramount Global, Fox, New York Times and News Corp are set to post their quarterly results. Wall Street will be keeping a close eye on Disney and UPS earnings as well. Given this backdrop, CNBC Pro searched for S & P 500 companies reporting this week which analysts forecast having earnings momentum. All the stocks that met the criteria have seen earnings per share estimates revised upward at least 5% over the past three months. Here are the stocks that made the cut: From the health sector, Insulet and Charles River Laboratories made the list. Charles River Laboratories is set to announce its quarterly earnings Wednesday. While the stock is still down 5% year to date, it has rebounded more than 9% over the last three months. Analysts are forecasting earnings per share to come in at $2.64, according to FactSet. More than 81% of analysts covering the stock rate it a buy or strong buy, according to Refinitiv. The average price target on shares suggests 18.5% upside from Friday’s close. Casino operator Wynn Resorts is also set to report this week. Investors will be watching the stock for insights on consumer health amid record-high interest rates. According to analysts polled by Refinitiv, nearly half give the stock a strong buy or buy rating. Earnings per share estimates for Wynn Resorts have jumped more than 103% over the last three months, with analysts now expecting 64 cents per share, according to FactSet. Shares have surged more than 26% in 2023. WYNN YTD mountain Wynn Resorts in 2023 NRG Energy will be announcing earnings Tuesday. Earnings estimates home energy services company have increased 47.7% during the last three months, per FactSet. The price target on shares has also gained 2.7% over the same period of time. To be sure, only three out of 10 analysts covering the stock rate it a buy or a strong buy. The stock has rallied nearly 18% year to date.

Source – CNBC