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These midcap stocks are cheap and expected to see booming earnings growth in 2023

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CNBC Pro screened for midcap stocks that have cheap valuations and are expected to grow earnings by more than 20% this year.

In a year when corporate earnings are broadly expected to deteriorate , some midcap names with cheap valuations are forecast to see strong earnings growth. The busiest week of fourth quarter earnings season is now underway. So far, 69% of those S & P 500 companies that reported results have beaten analysts' earnings-per-share estimates, according to FactSet. However, the blended S & P earnings decline for the fourth-quarter is -5%, per FactSet.

Hanover Insurance is expected to release fourth-quarter earnings on Feb. 1. It recently announced a pretax, preliminary estimate of $190 million for the quarter's catastrophic losses, higher than its previous forecast due to Winter Storm Elliot. The stock is down less than 1% year to date. Meanwhile, Brighthouse Financial is one of the largest holdings of Greenlight Capital's David Einhorn .

 

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So in other words the rich are getting richer. Only the top 1% of 1%ers can afford a Lear Jet.

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