For Immediate Release
Chicago, IL – December 21, 2022 – Today, Zacks Investment Ideas feature highlights CONSOL Energy Inc. CEIX, Ardmore Shipping Corp. ASC and Hudson Technologies Inc. HDSN.
3 Top-Ranked Stocks That Doubled in 2022
It’s been a challenging stretch in the market year-to-date, with a hawkish Fed, geopolitical issues, and lingering COVID-19 uncertainties weighing heavily on sentiment.
Despite all the negativity, there have been several bright spots in 2022, with some stocks snapping the overall bearish trend and rewarding investors handsomely.
Three stocks – CONSOL Energy Inc., Ardmore Shipping Corp. and Hudson Technologies Inc.– have all sailed through calm waters in 2022, up more than 100% year-to-date.
Below is a chart illustrating the year-to-date performance of all three stocks, with the S&P 500 blended in as a benchmark.
As we can see, all three stocks have gone on stellar runs in 2022, crushing the S&P 500’s performance.
In addition, all three sport a favorable Zacks Rank #1 (Strong Buy), indicating that their earnings outlooks have shifted positively. Let’s take a closer look at each one.
CONSOL Energy Inc.
CONSOL Energy is a publicly owned producer and exporter of high-BTU bituminous thermal coal and is one of the leading energy companies in the United States.
Analysts have substantially raised their bottom-line outlook over the last several months.
It’s hard to ignore CEIX’s growth profile; the Zacks Consensus EPS Estimate of $11.05 for its current fiscal year (FY22) suggests a Y/Y improvement of more than 430%. And in FY23, estimates suggest a further 150% of bottom-line growth.
The earnings growth comes on top of forecasted Y/Y revenue upticks of 57% in FY22 and 35% in FY23.
In addition, CONSOL Energy rewards its shareholders handsomely; CEIX’s annual dividend currently yields roughly 6%, nicely above its Zacks Oils and Energy sector average of an already steep 4.4%.
Ardmore Shipping Corp.
Ardmore Shipping is engaged in the ownership and operation of product and chemical tankers worldwide, providing shipping services to customers through voyage charters, commercial pools, and time charters.
Like CEIX, Ardmore Shipping’s bottom-line outlook has visibly improved over the last several months.
ASC has surpassed earnings and revenue expectations in three consecutive quarters, providing shares the fuel they need for an upwards move.
In its latest release, ASC penciled in a 10% EPS beat paired with an 11% sales surprise.
Hudson Technologies Inc.
Hudson Technologies is a leading provider of innovative solutions to recurring problems within industrial chiller plants and refrigeration systems.
The company has seen its earnings outlook improve across multiple timeframes, helping land the stock into a Zacks Rank #1 (Strong Buy).
HDSN has posted strong quarterly results, exceeding the Zacks Consensus EPS Estimate in four consecutive quarters by at least double-digit percentages.
In its latest release, Hudson Technologies exceeded bottom line estimates by more than 90% and reported sales 15% above expectations.
Stocks have sailed through rough waters in 2022. Simply put, coming out of a once-in-a-lifetime pandemic has landed us in a highly unique economic environment.
Still, all three stocks above – CONSOL Energy, Ardmore Shipping Corp. and Hudson Technologies Inc. – have entirely ignored the market’s woes in 2022, delivering substantial gains to investors.
And for the cherry on top, all three sport the highly-coveted Zacks Rank #1 (Strong Buy), indicating that their earnings outlooks have improved as of late.
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Zacks Investment Research
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performancefor information about the performance numbers displayed in this press release.
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