While stocks have enjoyed a strong start to 2024, CNBC Pro found that there are still plenty of opportunities for investors seeking companies offering growth potential for cheap. The S & P 500 jumped 10.2% in the first quarter, while the Dow Jones Industrial Average and Nasdaq Composite gained 5.6% and 9.1%, respectively. The first two days of the second quarter are off to a rockier start. The three major averages are all down more than 1%.
The names met all of the following criteria: Earnings per share growth over 10% Sales growth over 10% Trading at a discount relative to their S & P 500 sector on a next 12-month basis Several consumer discretionary names made the GARP list. Cruise line Royal Caribbean and casino company Las Vegas Sands could both grow their earnings by more than 40% this fiscal year. Royal Caribbean is currently trading at a price-to-forward-earnings ratio of 13.