Kroger has beat earnings expectations in the past four quarters. When it reported second quarter 2008 results back in September, its earnings of 38 cents per share beat the 34 cents estimated by the analysts surveyed by Thomson Financial, and was up from 29 cents in the same quarter of the previous year. For the third quarter, scheduled to be reported December 11, the consensus forecast is for 35 cents per share, up from 30 cents a year ago. The three-to-five year earnings growth rate forecast is only 4.5 percent, less than the industry average of 13 percent and less than the S&P 500. Still, the consensus recommendation is to buy Kroger, and has been for at least six months. By way of comparison, rival Safeway Stores Inc. (NYSE: SWY) gets a hold recommendation, and has a forecast three-to-five year earnings growth rate of -2.28 percent.

Kroger's share price has shown fairly steady growth over the past five years, though it has slipped some since reaching a 52-week high of $31.94 in June. This season, supermarket chains are trying to lure holiday shoppers, Kroger by offering 200 kinds of gift cards. Kroger also recently made a marketing deal with NASCAR.

Noble Corp. (NYSE: NE) used to be known as Noble Drilling Corp. and was formerly traded on the Nasdaq. It is now part of the S&P 500 (so, not a stock easily overlooked). Based in Sugar Land, Texas, this deepwater oil and gas driller has operations off the coasts of five continents, and also offers engineering and consulting services.

Noble has beat earnings expectations for the past seven quarters. In October, it reported $1.22 per share earnings for its third quarter, while the consensus estimate from analysts surveyed by Thomson Financial was $1.17 per share. EPS was 76 cents in the same period of the previous year. For the fourth quarter, analysts expect $1.34 per share, up from 74 cents a year ago, or $4.58 for the full year, up from $2.68 a year ago. The forecast three-to-five year earnings growth is 47.9 percent, better than the industry average. The consensus recommendation is to buy Noble, and has been for at least six months. The share price has shown fairly steady growth over the past three years, reaching a ten-year high of $56.46 recently. The 52-week low of $33.80 occurred way back in March. And the way things are going with the oil and gas drillers, Noble is a possible merger candidate.

Unless you are one of its customers or an investor with a special interest in the Aloha State, Hawaiian Electric Industries Inc. (NYSE: HE) may have slipped under your radar. Based in Honolulu, it is the holding company for Hawaiian electric utilities and some other, non-utility companies, such as American Savings Bank FSB, the third largest financial institution in the state.

Hawaiian Electric has fallen short of earnings expectations for the past six quarters, by as much as 53 percent. When the company reported its third quarter at the beginning of November, earnings were 24 cents per share, while the consensus estimate from analysts surveyed by Thomson Financial was 36 cents. Earnings were also down from 40 cents per share in the same period of the previous year. Q3 revenue of $673.5 million was flat year-over-year, and missed estimates of $683.2 million. For the fourth quarter, the consensus earnings estimate is 32 cents, up from 20 cents a year ago, or $1.03 for the full year, down from $1.33 year ago. While the earnings growth forecast is 70.7 percent for the next year (much better than the utilities sector average of 49 percent), for the three-to-five year time frame it is -10 percent (such a negative growth forecast is not unusual for electric utilities).

Perhaps not surprisingly, the consensus recommendation is to hold Hawaiian Electric. The share price dropped to a 52-week low of $20.25 in August; the 52-week high was $27.79 in December of 2006. Though the share price hasn't demonstrated much stability, the dividends certainly have: Hawaiian Electric has regularly paid dividends since 1901.