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. If that holds, it will be the worst year-over-year decline since the third quarter of 2020. So far, the S & P 500 is up nearly 6% for the year, although Wall Street is bracing for volatility and a possible recession. Midcap stocks are faring slightly better, with the S & P 400 MidCap up nearly 8% year to date. Midcaps typically have a market cap ranging between $2 billion and $10 billion. .IDX YTD mountain S & P 400 MidCap year-to-date performance With that in mind, CNBC Pro looked for midcap names within the S & P 400 MidCap that have a forward price-earnings ratio less than the 14 P/E of the entire index. Each is also expected to post earnings growth of at least 20%, per FactSet. Here are those names. The Hanover Insurance Group , which provides auto, home and business insurance, has the highest estimated EPS growth at 81%. The company, which has a $4.8 billion market cap, has a forward P/E of 13. 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 . The hedge-fund manager has said the stock is a play on an equity market rebound and higher long-term interest rates. The financial firm, spun out of MetLife, has a market cap of $3.8 billion, has a forward P/E of 3.8 and nearly 76% estimated EPS growth for 2023. The stock is up more than 8% so far this year. Lear Corporation also made the list, with estimated EPS growth of 45% and a forward P/E of 11.1. The auto supplier was recently named by Goldman Sachs as a beneficiary of the transition to electric vehicles . The stock has an $8.2 billion market cap and is up more than 12% year to date. Olin , which manufactures and distributes chemical products and ammunition, has also outperformed, up more than 18% in 2023. Earnings growth at $8.3 billion market cap company is expected to expand by nearly 32% and it has a P/E of 10.4. On Thursday, Olin reported fourth-quarter earnings of $1.43 per share, above the $1.39 estimate from StreetAccount. Revenue, however, came in at $1.98 billion, lagging a $2.09 billion estimate.