For Immediate Release
Chicago, IL – September 2, 2010 – 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): Golar LNG Limited (USA) (GLNG) and Aegean Marine Petroleum Network Inc. (ANW). Further, Zacks announced #4 Rankings (Sell) on two other widely held stocks: Live Nation Entertainment, Inc. (LYV) and World Wrestling Entertainment, Inc. (WWE). To see the full Zacks #5 Rank List – Stocks to Sell Now visit: http://at.zacks.com/?id=5522
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 GLNG and ANW 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:
Golar LNG Limited (USA) (GLNG) reported second-quarter loss of 8cents per share, on Aug 31, which missed the Zacks Consensus Estimate by 17 cents. The average forecast for the current year declined to a profit of 42 cents per share from 52 cents in the past month. Next year’s forecast slipped by 4cents to $1.02 per share in the same time period.
Aegean Marine Petroleum Network Inc. (ANW) posted second -quarter earnings of 30 cents per share on Aug 11, which came in behind the Zacks Consensus Estimate of 38 cents. Estimates for the current year fell 35 cents to a profit of $1.35 per share in the past one month as 7 out of the 8 covering analysts reduced expectations.
Here is a synopsis of why LYV and WWE 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;
Live Nation Entertainment, Inc. (LYV) announced second-quarter loss of 8 cents per share cents on Aug 5 that was wider than the Zacks Consensus Estimate for a loss of 6 cents. The full-year average forecast for 2010 is currently pegged at a loss of 65 cents per share which worsened 19 cents over the past month, reflecting cuts by 2 of the 3 covering analysts. Estimate for 2011 dipped by a penny to 12 cents per share in the same period.
World Wrestling Entertainment, Inc. (WWE) reported second-quarter earnings of 8 cents per share on Aug 5, which came in behind the Zacks Consensus Estimate of 14 cents. The full – year average forecast reduced 10 cents to 71 cents for 2010 in the past 30 days as all 6 covering analysts lowered expectations. Next year’s estimate also slid 8 cents to 80 cents per share during that time.
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 +28%. 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 (+2% versus +10%). Thus, the Zacks Rank system allows investors to truly manage portfolio trading effectively.
Visit http://www.zacks.com/performance for information about the performance numbers displayed in this press release.
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AEGEAN MARINE (ANW): Free Stock Analysis Report
GOLAR LNG LTD (GLNG): Free Stock Analysis Report
LIVE NATION ENT (LYV): Free Stock Analysis Report
WORLD WRESTLING (WWE): Free Stock Analysis Report
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