Despite some uncertainties about the job market weighing on the stock market, there are good opportunities as investors prepare for earnings season. The companies will begin releasing their first-quarter financial results next week, starting with Delta Air Lines, UnitedHealth and a number of big banks. According to Refinitiv, estimates for the first quarter for the S&P 500 are $50.71, down 5% from the same period last year. CNBC Pro used FactSet data to look for names cheaper than the S&P 500, which Wall Street loves and is expected to post earnings growth this week. Each stock in the table below meets the following criteria: Forward price-to-earnings multiple of less than 18 (below that of the S&P 500) Expected earnings growth of at least 25% this year At least 60% of analysts recommend buying Here are the stocks: Delta, which is due to report next Thursday, has the highest number of analyst buy ratings at 85.7% and potential upside of more than 50% based on each analyst’s average price target. It’s also the cheapest stock on the list, with a forward price-to-earnings multiple of 6, and earnings are expected to grow 65% this year. Alaska Air joins it with expected earnings growth of 31.5% and buy ratings from 86% of analysts. It is the second-cheapest stock on the chart with an expected price-to-earnings multiple of 7. The energy sector is the top performer on the list, including Baker Hughes, Targa Resources, Halliburton and Schlumberger. Baker Hughes has a forward price earnings multiple of 17.8. It has the second-largest estimated earnings growth at 72.5%. These stocks are also among the biggest gainers when oil prices rise, as they did recently, according to another CNBC Pro screen. Among the energy companies, Halliburton has the greatest upside potential at around 49%. At the forefront of earnings growth is Vici Properties, the real estate investment trust. It’s poised to grow earnings by 93.5% in 2023, with a forward price-to-earnings multiple of 13.1. About 83% of analysts gave Vici a buy rating, and JPMorgan just added it to its April focus list. In the technology space, Microchip Technology is forecast to have earnings growth of 30% and potential share price upside of 19%. The other tech name, dating app operator Match Group , is trailing Baker Hughes at a price-to-earnings multiple of 17.9. It has the greatest upside potential at 68%.
