Positive

From Nasdaq: 2024-06-20 16:22:00

Several auto stocks have made their way to the Zacks Rank #1 (Strong Buy) list this week, with positive earnings estimate revisions indicating an improved outlook. Cummins, a leading provider of diesel and natural gas engines, recently acquired Meritor for $3.7 billion, leading to record-breaking financial results and a promising future. Ford Motor, trading at a low forward earnings multiple of 5.8X, is projected to see strong sales and earnings in FY24 and FY25. The company’s dividend yield of 5.09% makes it an attractive option for income-seeking investors. Meanwhile, foreign automaker Suzuki Motor has seen its stock rise 8% this year, with strong earnings estimates for FY25 and plans to enter the EV market by introducing a compact electric-powered “flying car” in 2025. These top auto stocks, including Cummins, Ford Motor, and Suzuki Motor, offer a compelling investment opportunity for 2024 and beyond.

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Read more at Nasdaq: 3 Intriguing Auto Stocks to Buy Now