Outside of Nvidia NVDA, two companies that impressively exceeded their quarterly earnings expectations this week and continued the incredible rally in their stocks are Deckers Outdoor DECK and Macro Bank BMA.
The substantial increase on their bottom lines is reason to believe earnings estimate revisions could trend higher for Deckers Outdoor and Macro Bank in the following weeks. This could certainly be a catalyst for more upside in Deckers Outdoor and Macro Bank’s stock with both spiking in Friday’s trading session after reporting results for their fiscal fourth quarter yesterday.
Q4 Earnings Beats
Deckers Outdoor’s stock has soared roughly +14% today with the leading footwear and apparel company for high-performance outdoor activities posting Q4 EPS of $4.95. This crushed the Zacks Consensus of $2.82 per share by 75% and climbed 43% from $3.46 a share in the comparative quarter. Furthermore, Deckers Outdoor’s steady growth and consistency are very appealing as the company has surpassed earnings expectations for 10 consecutive quarters while posting an average earnings surprise of 42.82% in its last four quarterly reports.
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As for Macro Bank which has the most extensive private-branch networks among multi-service banks in Argentina, its stock is up +2% after Q4 EPS of $5.02 obliterated expectations of $2.19 a share by 129%. More impressive, Q4 earnings skyrocketed 382% from $1.04 a share in the prior-year quarter. What has stood out the most about Macro Bank’s stock is its cheap P/E valuation with BMA still trading at just 6.2X forward earnings which is intriguingly beneath the Zacks Banks-Foreign Industry average of 9.1X.
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Blazing Price Performances
Off to a blazing start in 2024, Deckers Outdoor’s stock has climbed +53% year to date with Macro Bank shares catapulting +104%. More astonishing is that Macro Bank’s stock has now skyrocketed +232% over the last year which has even topped Nvidia’s +176% while Deckers Outdoor shares have soared +127%.
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Bottom Line
At this point, it would be no surprise if the incredible rally in Deckers Outdoor and Macro Bank’s stock continued especially after crushing their Q4 earnings expectations. To that point, Macro Bank’s stock sports a Zacks Rank #2 (Buy) while Deckers Outdoor lands a Zacks Rank #3 (Hold).
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