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Modine Manufacturing, Acuity Brands, Sonic Corp. and Central European Media Enterprises

^{Published on 2010-07-08 16:50:52 - Market Wire}
 

CHICAGO--([ BUSINESS WIRE ])--Zacks.com releases details on a group of stocks that are currently members of the exclusive Zacks #5 Rank List a" Stocks to Sell Now. These stocks are currently rated as a Zacks Rank #5 (Strong Sell): Modine Manufacturing Co. (NYSE: [ MOD ])and Acuity Brands, Inc. (NYSE: [ AYI ]). Further, Zacks announced #4 Rankings (Sell) on two other widely held stocks: Sonic Corp. (Nasdaq: [ SONC ]) and Central European Media Enterprises Ltd. (Nasdaq: [ CETV ]). To see the full Zacks #5 Rank List - Stocks to Sell Now visit: [ http://at.zacks.com/?id=92 ]

"Zacks Rank Guide: Harnessing the Power of Earnings Estimate Revisions"

Since inception in 1988, the S&P 500 has outperformed the Zacks #5 Rank List of Stocks to Sell Now by 80% annually (+2% vs. +10%). While the rest of Wall Street continued to tout stocks during the market declines of the last few years, Zacks told investors which stocks to sell or avoid.

Here is a synopsis of why MOD and AYI have a Zacks Rank of #5 (Strong Sell) and should most likely be sold or avoided for the next one to three months. Note that a #5 Strong Sell rating is applied to 5% of all the stocks in the Zacks Rank universe:

Modine Manufacturing Co. (NYSE: [ MOD ]) announced a fourth-quarter loss of 23 cents per share on June 3, which was 15 cents wider than the Zacks Consensus Estimate. The full-year average forecast widened a penny to a loss of 7 cents per share in the past week. The following yeara™s estimate dropped by a cent to a profit of 84 cents per share in that time period.

Acuity Brands, Inca™s (NYSE: [ AYI ]) third-quarter earnings of 48 cents per share, reported on June 29, missed analystsa™ expectations by 14%. This apart, earnings marked an 11% year-over-year decrease. The Zacks Consensus Estimate for 2010 fell 5 cents to $2.03 per share in the last 7 days as 3 analysts out of 6 reduced forecasts. Next yeara™s estimate dipped 8 cents to $2.55 per share during that time.

Here is a synopsis of why SONC and CETV have a Zacks Rank of 4 (Sell) and should also most likely be sold or avoided for the next one to three months. Note that a #4 Sell rating is applied to 15% of all the stocks ranked by Zacks;

Sonic Corp. (Nasdaq: [ SONC ]) posted third-quarter earnings of 15 cents per share on June 21 while analysts expected 19 cents. The last month has seen downward revisions by all of the 16 covering analysts, bringing the Zacks Consensus Estimate for 2010 down by 6 cents to a profit of 50 cents per share. For 2011, forecast slipped 8 cents to 63 cents per share in the same period.

Central European Media Enterprises Ltd. (Nasdaq: [ CETV ]) posted a first-quarter loss of 61 cents per share in May, which was far behind last yeara™s earnings of 89 cents. The companya™s loss came in 28 cents wider than the Zacks Consensus Estimate. The average forecast for 2010 widened to a loss of 64 cents per share from 46 cents over the past week as one analyst out of 5 slashed expectations.

Truly taking advantage of the Zacks Rank requires the understanding of how it works. The free special report; aZacks Rank Guide: Harnessing the Power of Earnings Estimate Revisionsa is available to provide this insightful background. Download a free copy now to prosper in the years to come at [ http://at.zacks.com/?id=93 ].

About the Zacks Rank

Since 1988, the Zacks Rank has proven that "Earnings estimate revisions are the most powerful force impacting stock prices." Since inception in 1988, #1 Rank Stocks have generated an average annual return of +27%. During the 2000-2002 bear market, Zacks #1 Rank stocks gained +43.8%, while the S&P 500 tumbled -37.6%. Also note that the Zacks Rank system has just as many Strong Sell recommendations (Rank #5) as Strong Buy recommendations (Rank #1). Since 1988, Zacks Rank #5 stocks have significantly underperformed the S&P 500 (-0.9% versus +9%). Thus, the Zacks Rank system allows investors to truly manage portfolio trading effectively.

Visit [ http://www.zacks.com/performance ] for information about the performance numbers displayed in this press release.

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