As we move into the dog days of August, the traditional theory is that everyone is going on vacation and not much will happen in the stock market.
In reality, I’m not sure that is as true today as it was back when first started out. Today, traders head for the Hamptons and take their business with them in a carry-on bag.
Besides, even if everyone does happen to clear out to the beach or the mountains and ignore the markets for the next few weeks, you can chase away the summertime blues by focusing on the very best stocks for the current market conditions.
Not too far from our Reno, Nev. offices, there is a company that has quietly become one of the very stocks to own right now. Monarch Casino & Resort (MCRI) owns and operates owns and operates the Atlantis Casino Resort Spa, a hotel and casino here in Reno with over 1,000 hotel rooms and about 67,000 square feet of casino space.
Monarch also owns Riviera Black Hawk Casino in Colorado, which features 750 slot machines, 9 table games and a gourmet buffet.
The company has posted two strong positive earnings surprises — beating expectations by 63% and 54% — in a row and its revenue have surpassed analyst estimates as well. As a result, analysts have been rushing to upgrade their estimates for the rest of this year and 2014.
Three months ago, full-year earnings for 2013 and 2014 were slated for 91 cents per share and $1.02 per share, respective. Now, the estimates have jumped to $1.06 per share for this year and $1.17 for the next.
The stock receives an A grade for both fundamental and quantitative factors and is a triple-A pick rated “strong buy” in our Portfolio Grader stock selection tool.
American National Insurance (ANAT) is an example of a stock that has just seen its fundamentals steadily improve. The company sells life insurance, annuities and health insurance products such as Medicare supplements, supplemental insurance and credit disability insurance. It also sells property and casualty insurance such as auto, homeowners and commercial lines.
Business has been improving, and Portfolio Grader has noticed. The stock was upgraded to a “hold” in January and a “buy” in February. Fundamentals continued to improve and the stock was upgraded to an A rating in July and remains a “strong buy.”
The bottom line: Just because August is the month Wall Street heads off to vacation doesn’t mean your portfolio has to go on hiatus. Use Portfolio Grader to find the very best stocks to power your profits year-round.
Louis Navellier is the editor of Blue Chip Growth.