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Best 4 stocks to buy this week ahead of their quarterly earnings

Mircea Vasiu

The earnings season continues with four big names reporting their quarterly earnings this week: HP, Salesforce, Lululemon Athletica, and Hormel Foods. 

The new trading week starts with a holiday, as the US celebrates Memorial Day today. But despite a short trading week, plenty of economic events will move markets. For example, the NFP release due on Friday.

Besides the economic data, a few interesting companies are scheduled to release their quarterly earnings this week: HP, Salesforce, Lululemon Athletica, and Hormel Foods.  

HP

HP (NYSE:HPQ) is one of the largest companies active in the technology hardware, storage and peripherals. It is a leading IT company and its stock price trades close to all-time highs. HP operates with a gross profit margin of 20.78%, and the enterprise value has reached $45.77 billion.

The company was in the news as Berkshire Hathaway invested in it due to its appealing dividend and growth perspectives.

Salesforce

Salesforce (NYSE:CRM) reports its Q! FY2023 earnings on May 31 at 02:00 PM PT. The market expects EPS of $0.94 for the quarter and the annual revenue estimated for the fiscal period ending January 2023 is $32.06 billion. 

Salesforce has constantly beaten both the EPS and revenue estimates in the last years, so the expectations are that it will do the same tomorrow. 

Lululemon Athletica

On June 2, Lululemon Athletica presents its Q1 FY2022 financial performance. Investors expect EPS of $1.43 for the quarter and analysts are optimistic about the share price. 

Out of the 88 analysts covering the stock, only one has issued a sell rating, while 53 have issued a buy one. 34 analysts have a neutral rating for the Lululemon Athletica’s stock price. 

Hormel Foods

Hormel Foods (NYSE:HRL) is another company reporting its quarterly earnings this week. Food prices are going up all over the world as a result of the COVID-19 pandemic as well as of the Russia-Ukraine war. 

Investors expect EPS of $0.47 for the quarter and the revenue estimate for the fiscal period ending October 2022 is $12.42 billion.