Each week, Benzinga's Stock Whisper Index uses a combination of proprietary data and pattern recognition to showcase five stocks that are just under the surface and deserve attention.
Investors are constantly on the hunt for undervalued, under-followed and emerging stocks. With countless methods available to retail traders, the challenge often lies in sifting through the abundance of information to uncover new opportunities and understand why certain stocks should be of interest.
Here’s a look at the Benzinga Stock Whisper Index for the week of Oct. 4:
Mohawk Industries Inc MHK: The flooring products company saw strong interest from Benzinga readers over the past week. The stock was one of the top-performing S&P 500 stocks in the third quarter.
Mohawk is likely getting attention from readers as the company is tossed around as a winner in the interest rate-cutting environment and could do well no matter which candidate wins the 2024 presidential election. With the company's position in flooring, Mohawk wins from more houses being built, which could be a key catalyst coming in the next year.
Mohawk is likely to report third-quarter financial results in October. Mohawk has beaten earnings per share estimates from analysts in six straight quarters and revenue estimates from analysts in five of the past six quarters.
Mohawk shares were up 0.4% over the past five trading days as seen on the Benzinga Pro chart below and are up over 50% year-to-date in 2024.
Banner Bank BANR: The regional bank joins the Benzinga Stock Whisper Index with increased interest from readers.
The bank, which has the majority of its branches in Oregon, Washington, California, Idaho and Utah, is set to report third-quarter financial results on Oct. 16. The bank has beaten analysts’ estimates for earnings per share in four straight quarters and analyst estimates for revenue in three straight quarters.
Raymond James recently maintained an Outperform rating on the stock and raised the price target from $62 to $65. With the recent interest rate cut and the potential for more later this year, bank stocks are likely in the spotlight for investors.
Banner Bank shares were down on the week and are up 10.7% year-to-date in 2024.
Madison Square Garden Entertainment Corp MSGE: The owner of the iconic Madison Square Garden sports and concert venue saw increased interest from readers during the week.
The increased interest could be related to anticipation building for the starts of the National Hockey League (NHL) and National Basketball Association (NBA) seasons. Madison Square Garden Sports Corp MSGS owns the New York Rangers (NHL) and New York Knicks (NBA), so the entertainment company and owner of the venue can see a strong performance with high attendance and the teams being good.
The NHL season kicks off on Oct. 9 for the Rangers and the Knicks play their first game on Oct. 22. The Knicks have high expectations for the season with a recent trade bringing NBA superstar Karl-Anthony Towns to New York. With the trade, the Knicks now have the third best odds (+800) to win the NBA Championship for the coming season.
MSGE shares were down slightly on the week. The stock is up over 33% year-to-date in 2024.
Schlumberger NV SLB: The oil stock was one of many in the sector that saw a boost in share price and interest due to increasing tension in the Middle East with Iran launching a missile attack against Israel. Increased attacks could hurt oil supplies and also see sanctions that could increase the price of oil.
Schlumberger reports third-quarter financial results on Oct. 18, which could create further optimism for the stock. The company has beaten analyst earnings per share estimates in more than 10 straight quarters. The company has beaten revenue estimates from analysts in three straight quarters and eight of the past 10 quarters.
Schlumberger shares were up more than 7% in the last five trading days. Even with the recent move, the stock is down around 13% year-to-date in 2024.
Tompkins Financial Corp TMP: The community bank, financial advisor and insurance agency company may not be a household name, but the stock is seeing increased attention from investors ahead of a third-quarter earnings report expected in October. Like other banks, Tompkins could benefit from interest rate cuts.
Keefe, Bruyette & Woods recently upgraded the stock from Market Perform to Outperform and increased the price target from $59 to $68.
Tompkins Financial stock was up 2% on the week and shares are trading relatively flat year-to-date in 2024.
Stay tuned for next week's report, and follow Benzinga Pro for all the latest headlines and top market-moving stories here.
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