The highest priority among the top brass in any organization is to secure earnings growth on a year-over-year basis. And why is this so? It’s because earnings growth indicates the affluence of a company. Earnings are basically revenues that the company generates after deducting cost of production over a given period of time. If the company doesn’t make money then it won’t last in the long run and will eventually run out of steam. Upbeat earnings results have a positive impact on the company’s share price. And a better-than-expected earnings performance generally lead to a jump in the share price. As we are in the thick of the earnings season, this is the right time to look at stocks that have a high historical earnings growth rate and are also seeing an increase in quarterly and annual earnings estimates. While valuing a firm, earnings estimates play a significant role. Analysts can examine the cash flow based on these periodic earnings estimates to determine the fair value of the company. Earnings estimates embody investors’ views about various factors such as sales growth, product demand, competitive industry environment, profit margins and cost control. Thus, earnings estimates are a valuable tool for investors when deciding whether or not to buy a stock. Screening Parameters In order to shortlist stocks that have striking earnings growth and positive estimate revisions, we added the following parameters: Zacks Rank less than or equal to 2 (Only Zacks' 'Buys' and 'Strong Buys' allowed. With the Zacks Rank proving itself to be one of the best rating systems out there, this is a great way to start things off.) 5-Year Historical EPS Growth (%) greater than X-Industry. (Stocks that possess strong EPS growth history.) % Change EPS F(0)/F(-1) greater than or equal to 5 (Companies that witnessed year-over-year earnings growth rate of 5% or more in the last reported fiscal year.) % Change Q1 Estimates over the last 4 weeks greater than zero (Stocks that have seen their current quarter earnings estimates revised higher in the last 4 weeks.) % Change F1 Estimates over the last 1 week greater than zero (Stocks that have seen their annual earnings estimates revised higher in the last 1 week.) % Change F1 Estimates over the last 4 weeks greater than zero (Stocks that have seen their annual earnings estimates revised higher in the last 4 weeks.) The above criteria narrowed down the universe of over 8,800 stocks to only 20. Here are the top 5 stocks: Coty Inc. (COTY) Starbucks Corporation (SBUX) Spectrum Brands Holdings, Inc. (SPB) Pinnacle West Capital Corporation (PNW) Stanley Black & Decker, Inc. (SWK) You can get the rest of the stocks on this list by signing up now for your 2-week free trial to the Research Wizard and start using this screen in your own trading. Further, you can also create your own strategies and test them first before taking the investment plunge. The Research Wizard is a great place to begin. It's easy to use. Everything is in plain language. And it's very intuitive. Start your Research Wizard trial today. And the next time you read an economic report, open up the Research Wizard, plug your finds in, and see what gems come out. Click here to sign up for a free trial to the Research Wizard today. Disclosure: Officers, directors and/or employees of Zacks Investment Research may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material. An affiliated investment advisory firm may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material. Disclosure: Performance information for Zacks’ portfolios and strategies are available at: http://www.zacks.com/performance Zacks Restaurant Recommendations: In addition to dining at these special places, you can feast on their stock shares. A Zacks Special Report spotlights 5 recent IPOs to watch plus 2 stocks that offer immediate promise in a booming sector. Download it free »Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report PINNACLE WEST (PNW): Free Stock Analysis Report STANLEY B&D INC (SWK): Free Stock Analysis Report SPECTRUM BRANDS (SPB): Free Stock Analysis Report STARBUCKS CORP (SBUX): Free Stock Analysis Report COTY INC-A (COTY): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research