Earnings season is well underway, and there are some big players reporting their quarterly results this week that investors may want to keep their eyes on. Below are three stocks that could see their share prices get a boost if all goes well this week.
Suncor Energy (TSX: SU)(NYSE: SU) is set to release its Q4 results on Tuesday. Although the stock has been rallying to start the year, Suncor is still down 3% over the past 12 months, as investors have once again turned bearish on oil and gas stocks with oil prices falling and proving to be very volatile over the past several months.
Suncor is usually a good bet to post a profit, and it has done so in each of the past five quarters. Sales were also up 36% last quarter, and although the company did have a good showing, the overall downward trends in the market proved to be too strong for Suncor’s stock to be able to mount much of a rally. This time, however, the markets are doing better, and another good result could send the stock headed for $50 — a price it has been under since October.
There are already signs that Suncor is headed for a strong Q4 — early in January it provided investors an update that quarterly production hit a record and was up 12% from Q3.
BCE (TSX: BCE)(NYSE: BCE) is another big stock set to report its year-end earnings this week with results expected to come out on Thursday. Last year was not a great one for telecom stocks, as some troubling earnings reports early on in the year set the stage for a lot of bearish activity in the industry.
In 2018, BCE’s stock dropped more than 10% of its value, as what has been one of the most stable stocks on the TSX struggled mightily. However, like with many other stocks on the TSX, 2019 has been off to a better start, as BCE closed over $57 a share last week and is now near its 52-week range.
After its last earnings report, BCE went on a big rally, only to eventually give back many of those gains in December. With a modest 3.5% sales growth in its last quarter, even a similar result might be enough to give the stock a boost this time around.
Cameco (TSX: CCO)(NYSE: CCJ) might be the most intriguing company to report earnings this week. The uranium producer has seen a lot of controversy over the past few years, and things have been looking a lot better lately. Stronger uranium prices have made the stock a buy again as Cameco’s share price has risen about 40% in just the past 12 months.
The stock didn’t get much of a boost in its top line last quarter, but this time around the company might be due for a big bump up in sales with commodity prices being up. They should also help Cameco stay out of the red, which is something the company has struggled to do with it only being able to post a positive net income figure in two of its last five quarters.
Recent dividend cuts could also mean a strong period of cash flow in its upcoming Q4 earnings. Overall, Cameco could be due for a great quarter, and that could send the stock soaring.
