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714500.0
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2023-12-06 00:00:00 UTC
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Wednesday Sector Laggards: Oil & Gas Exploration & Production, Trucking Stocks
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DCOMP
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https://www.nasdaq.com/articles/wednesday-sector-laggards%3A-oil-gas-exploration-production-trucking-stocks
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nan
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nan
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In trading on Wednesday, oil & gas exploration & production shares were relative laggards, down on the day by about 2%. Helping drag down the group were shares of Baytex Energy, down about 6.3% and shares of SilverBow Resources down about 4.2% on the day.
Also lagging the market Wednesday are trucking shares, down on the day by about 1.7% as a group, led down by Saia, trading lower by about 7.3% and Old Dominion Freight Line, trading lower by about 5.9%.
VIDEO: Wednesday Sector Laggards: Oil & Gas Exploration & Production, Trucking Stocks
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In trading on Wednesday, oil & gas exploration & production shares were relative laggards, down on the day by about 2%. Also lagging the market Wednesday are trucking shares, down on the day by about 1.7% as a group, led down by Saia, trading lower by about 7.3% and Old Dominion Freight Line, trading lower by about 5.9%. VIDEO: Wednesday Sector Laggards: Oil & Gas Exploration & Production, Trucking Stocks The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In trading on Wednesday, oil & gas exploration & production shares were relative laggards, down on the day by about 2%. Also lagging the market Wednesday are trucking shares, down on the day by about 1.7% as a group, led down by Saia, trading lower by about 7.3% and Old Dominion Freight Line, trading lower by about 5.9%. VIDEO: Wednesday Sector Laggards: Oil & Gas Exploration & Production, Trucking Stocks The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In trading on Wednesday, oil & gas exploration & production shares were relative laggards, down on the day by about 2%. Also lagging the market Wednesday are trucking shares, down on the day by about 1.7% as a group, led down by Saia, trading lower by about 7.3% and Old Dominion Freight Line, trading lower by about 5.9%. VIDEO: Wednesday Sector Laggards: Oil & Gas Exploration & Production, Trucking Stocks The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In trading on Wednesday, oil & gas exploration & production shares were relative laggards, down on the day by about 2%. Helping drag down the group were shares of Baytex Energy, down about 6.3% and shares of SilverBow Resources down about 4.2% on the day. Also lagging the market Wednesday are trucking shares, down on the day by about 1.7% as a group, led down by Saia, trading lower by about 7.3% and Old Dominion Freight Line, trading lower by about 5.9%.
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5be98449-1597-4ee6-9998-66c0905fafe9
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714501.0
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2023-12-06 00:00:00 UTC
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Wednesday Sector Leaders: Biotechnology, Home Furnishings & Improvement Stocks
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DCOMP
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https://www.nasdaq.com/articles/wednesday-sector-leaders%3A-biotechnology-home-furnishings-improvement-stocks
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nan
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nan
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In trading on Wednesday, biotechnology shares were relative leaders, up on the day by about 3.8%. Leading the group were shares of Sera Prognostics, up about 256.2% and shares of Altimmune up about 36.3% on the day.
Also showing relative strength are home furnishings & improvement shares, up on the day by about 3.1% as a group, led by Purple Innovation, trading up by about 39.5% and Lovesac, trading higher by about 12.5% on Wednesday.
VIDEO: Wednesday Sector Leaders: Biotechnology, Home Furnishings & Improvement Stocks
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
In trading on Wednesday, biotechnology shares were relative leaders, up on the day by about 3.8%. Also showing relative strength are home furnishings & improvement shares, up on the day by about 3.1% as a group, led by Purple Innovation, trading up by about 39.5% and Lovesac, trading higher by about 12.5% on Wednesday. VIDEO: Wednesday Sector Leaders: Biotechnology, Home Furnishings & Improvement Stocks The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In trading on Wednesday, biotechnology shares were relative leaders, up on the day by about 3.8%. Also showing relative strength are home furnishings & improvement shares, up on the day by about 3.1% as a group, led by Purple Innovation, trading up by about 39.5% and Lovesac, trading higher by about 12.5% on Wednesday. VIDEO: Wednesday Sector Leaders: Biotechnology, Home Furnishings & Improvement Stocks The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In trading on Wednesday, biotechnology shares were relative leaders, up on the day by about 3.8%. Also showing relative strength are home furnishings & improvement shares, up on the day by about 3.1% as a group, led by Purple Innovation, trading up by about 39.5% and Lovesac, trading higher by about 12.5% on Wednesday. VIDEO: Wednesday Sector Leaders: Biotechnology, Home Furnishings & Improvement Stocks The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In trading on Wednesday, biotechnology shares were relative leaders, up on the day by about 3.8%. Leading the group were shares of Sera Prognostics, up about 256.2% and shares of Altimmune up about 36.3% on the day. Also showing relative strength are home furnishings & improvement shares, up on the day by about 3.1% as a group, led by Purple Innovation, trading up by about 39.5% and Lovesac, trading higher by about 12.5% on Wednesday.
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dd502170-09ab-469f-b58a-b7b55e556ec0
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714502.0
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2023-12-06 00:00:00 UTC
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Why SentinelOne Stock Soared 19% on Wednesday
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DCOMP
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https://www.nasdaq.com/articles/why-sentinelone-stock-soared-19-on-wednesday
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nan
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nan
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Shares of SentinelOne (NYSE: S) surged 19.2% through 11 a.m. ET on Wednesday after a modest earnings beat sparked a frantic rush by Wall Street banks to raise price targets on the rising cybersecurity stock.
Heading into the third quarter of its fiscal 2024, analysts had limited hopes for SentinelOne, predicting the company would lose money ($0.08 per share) on sales of only $156.1 million. The analysts were right about SentinelOne losing money -- but wrong on the amount. Instead of $0.08 per share, SentinelOne's loss was less than half as bad as feared (only $0.03 per share), and its revenue of $164.2 million beat expectations by more than 5%.
SentinelOne sales and earnings
SentinelOne's earnings beat didn't just surprise Wall Street -- it surprised management itself, with CEO Tomer Weingarten exclaiming that his company's artificial intelligence (AI)-based cybersecurity products drove better-than-expected "top and bottom line expectations ... industry-leading growth and margin improvement."
Revenue grew an astounding 42% year over year. Gross margin surged 9 full percentage points to 73%. And operating profit margin, while still negative, improved by 40 percentage points, from negative 90% to negative 50%.
Is SentinelOne stock a buy?
Admittedly, profits are still negative at the company, but management sees further improvements ahead with full-year fiscal 2024 revenue growing to $616 million ($10 million more than Wall Street was expecting), and a non-GAAP (adjusted) operating profit margin of 20%.
Twelve separate Wall Street analysts responded to SentinelOne's earnings beat, and revenue guidance, by raising their price targets this morning. With a $21-per-share target, Deutsche Bank is now the most conservative, advising that investors merely hold on to their shares. In contrast, JMP Securities is putting out a Street-high prediction of $33 per share, implying that SentinelOne stock could go up another 30% over the next 12 months.
Now, the bad news is that most analysts polled by S&P Global Market Intelligence still don't foresee SentinelOne turning profitable according to generally accepted accounting principles before 2028. The good news, though, is that a consensus seems to be forming that SentinelOne will generate positive free cash flow (FCF) by the back half of next year (SentinelOne's fiscal 2025), and that this number may grow past $110 million in fiscal 2026.
Is that enough cash to justify buying SentinelOne at an implied valuation of 65 times FCF two years out? I think that valuation sounds a bit too rich -- but judging from the applause on Wall Street this morning, it seems I'm in the minority with that view.
10 stocks we like better than SentinelOne
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They just revealed what they believe are the ten best stocks for investors to buy right now... and SentinelOne wasn't one of them! That's right -- they think these 10 stocks are even better buys.
See the 10 stocks
*Stock Advisor returns as of December 4, 2023
Rich Smith has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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ET on Wednesday after a modest earnings beat sparked a frantic rush by Wall Street banks to raise price targets on the rising cybersecurity stock. Twelve separate Wall Street analysts responded to SentinelOne's earnings beat, and revenue guidance, by raising their price targets this morning. Now, the bad news is that most analysts polled by S&P Global Market Intelligence still don't foresee SentinelOne turning profitable according to generally accepted accounting principles before 2028.
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SentinelOne sales and earnings SentinelOne's earnings beat didn't just surprise Wall Street -- it surprised management itself, with CEO Tomer Weingarten exclaiming that his company's artificial intelligence (AI)-based cybersecurity products drove better-than-expected "top and bottom line expectations ... industry-leading growth and margin improvement." Admittedly, profits are still negative at the company, but management sees further improvements ahead with full-year fiscal 2024 revenue growing to $616 million ($10 million more than Wall Street was expecting), and a non-GAAP (adjusted) operating profit margin of 20%. Twelve separate Wall Street analysts responded to SentinelOne's earnings beat, and revenue guidance, by raising their price targets this morning.
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SentinelOne sales and earnings SentinelOne's earnings beat didn't just surprise Wall Street -- it surprised management itself, with CEO Tomer Weingarten exclaiming that his company's artificial intelligence (AI)-based cybersecurity products drove better-than-expected "top and bottom line expectations ... industry-leading growth and margin improvement." The good news, though, is that a consensus seems to be forming that SentinelOne will generate positive free cash flow (FCF) by the back half of next year (SentinelOne's fiscal 2025), and that this number may grow past $110 million in fiscal 2026. 10 stocks we like better than SentinelOne When our analyst team has a stock tip, it can pay to listen.
|
Heading into the third quarter of its fiscal 2024, analysts had limited hopes for SentinelOne, predicting the company would lose money ($0.08 per share) on sales of only $156.1 million. Instead of $0.08 per share, SentinelOne's loss was less than half as bad as feared (only $0.03 per share), and its revenue of $164.2 million beat expectations by more than 5%. Is that enough cash to justify buying SentinelOne at an implied valuation of 65 times FCF two years out?
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f4d1efa7-a1e3-47e2-9966-d6dbdc3e8f1f
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714503.0
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2023-12-06 00:00:00 UTC
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Noteworthy Wednesday Option Activity: BKNG, NVDA, META
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DCOMP
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https://www.nasdaq.com/articles/noteworthy-wednesday-option-activity%3A-bkng-nvda-meta
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nan
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nan
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Among the underlying components of the S&P 500 index, we saw noteworthy options trading volume today in Booking Holdings Inc (Symbol: BKNG), where a total of 2,493 contracts have traded so far, representing approximately 249,300 underlying shares. That amounts to about 111.8% of BKNG's average daily trading volume over the past month of 223,085 shares. Especially high volume was seen for the $3150 strike call option expiring December 08, 2023, with 52 contracts trading so far today, representing approximately 5,200 underlying shares of BKNG. Below is a chart showing BKNG's trailing twelve month trading history, with the $3150 strike highlighted in orange:
NVIDIA Corp (Symbol: NVDA) saw options trading volume of 480,452 contracts, representing approximately 48.0 million underlying shares or approximately 111.1% of NVDA's average daily trading volume over the past month, of 43.3 million shares. Particularly high volume was seen for the $470 strike call option expiring December 08, 2023, with 32,511 contracts trading so far today, representing approximately 3.3 million underlying shares of NVDA. Below is a chart showing NVDA's trailing twelve month trading history, with the $470 strike highlighted in orange:
And Meta Platforms Inc (Symbol: META) saw options trading volume of 161,711 contracts, representing approximately 16.2 million underlying shares or approximately 104.7% of META's average daily trading volume over the past month, of 15.4 million shares. Especially high volume was seen for the $330 strike call option expiring December 08, 2023, with 16,073 contracts trading so far today, representing approximately 1.6 million underlying shares of META. Below is a chart showing META's trailing twelve month trading history, with the $330 strike highlighted in orange:
For the various different available expirations for BKNG options, NVDA options, or META options, visit StockOptionsChannel.com.
Today's Most Active Call & Put Options of the S&P 500 »
Also see:
Institutional Holders of EPB
Funds Holding FFA
FUV Split History
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
Especially high volume was seen for the $3150 strike call option expiring December 08, 2023, with 52 contracts trading so far today, representing approximately 5,200 underlying shares of BKNG. Particularly high volume was seen for the $470 strike call option expiring December 08, 2023, with 32,511 contracts trading so far today, representing approximately 3.3 million underlying shares of NVDA. Especially high volume was seen for the $330 strike call option expiring December 08, 2023, with 16,073 contracts trading so far today, representing approximately 1.6 million underlying shares of META.
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Below is a chart showing BKNG's trailing twelve month trading history, with the $3150 strike highlighted in orange: NVIDIA Corp (Symbol: NVDA) saw options trading volume of 480,452 contracts, representing approximately 48.0 million underlying shares or approximately 111.1% of NVDA's average daily trading volume over the past month, of 43.3 million shares. Particularly high volume was seen for the $470 strike call option expiring December 08, 2023, with 32,511 contracts trading so far today, representing approximately 3.3 million underlying shares of NVDA. Below is a chart showing NVDA's trailing twelve month trading history, with the $470 strike highlighted in orange: And Meta Platforms Inc (Symbol: META) saw options trading volume of 161,711 contracts, representing approximately 16.2 million underlying shares or approximately 104.7% of META's average daily trading volume over the past month, of 15.4 million shares.
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Below is a chart showing BKNG's trailing twelve month trading history, with the $3150 strike highlighted in orange: NVIDIA Corp (Symbol: NVDA) saw options trading volume of 480,452 contracts, representing approximately 48.0 million underlying shares or approximately 111.1% of NVDA's average daily trading volume over the past month, of 43.3 million shares. Below is a chart showing NVDA's trailing twelve month trading history, with the $470 strike highlighted in orange: And Meta Platforms Inc (Symbol: META) saw options trading volume of 161,711 contracts, representing approximately 16.2 million underlying shares or approximately 104.7% of META's average daily trading volume over the past month, of 15.4 million shares. Especially high volume was seen for the $330 strike call option expiring December 08, 2023, with 16,073 contracts trading so far today, representing approximately 1.6 million underlying shares of META.
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Especially high volume was seen for the $3150 strike call option expiring December 08, 2023, with 52 contracts trading so far today, representing approximately 5,200 underlying shares of BKNG. Below is a chart showing BKNG's trailing twelve month trading history, with the $3150 strike highlighted in orange: NVIDIA Corp (Symbol: NVDA) saw options trading volume of 480,452 contracts, representing approximately 48.0 million underlying shares or approximately 111.1% of NVDA's average daily trading volume over the past month, of 43.3 million shares. Below is a chart showing NVDA's trailing twelve month trading history, with the $470 strike highlighted in orange: And Meta Platforms Inc (Symbol: META) saw options trading volume of 161,711 contracts, representing approximately 16.2 million underlying shares or approximately 104.7% of META's average daily trading volume over the past month, of 15.4 million shares.
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93bf92b6-07ed-456f-a919-fcd3c3c90ff7
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714504.0
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2023-12-06 00:00:00 UTC
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Earnings Estimates Rising for Okta (OKTA): Will It Gain?
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DCOMP
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https://www.nasdaq.com/articles/earnings-estimates-rising-for-okta-okta%3A-will-it-gain
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nan
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nan
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Okta (OKTA) appears an attractive pick given a noticeable improvement in the company's earnings outlook. The stock has been a strong performer lately, and the momentum might continue with analysts still raising their earnings estimates for the company.
The rising trend in estimate revisions, which is a result of growing analyst optimism on the earnings prospects of this cloud identity management company, should get reflected in its stock price. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements. This insight is at the core of our stock rating tool -- the Zacks Rank.
The five-grade Zacks Rank system, which ranges from a Zacks Rank #1 (Strong Buy) to a Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record of outperformance, with Zacks #1 Ranked stocks generating an average annual return of +25% since 2008.
Consensus earnings estimates for the next quarter and full year have moved considerably higher for Okta, as there has been strong agreement among the covering analysts in raising estimates.
Current-Quarter Estimate Revisions
The earnings estimate of $0.51 per share for the current quarter represents a change of +70% from the number reported a year ago.
Over the last 30 days, the Zacks Consensus Estimate for Okta has increased 26.11% because 12 estimates have moved higher compared to no negative revisions.
Current-Year Estimate Revisions
For the full year, the earnings estimate of $1.46 per share represents a change of +3750% from the year-ago number.
In terms of estimate revisions, the trend for the current year also appears quite encouraging for Okta. Over the past month, 14 estimates have moved higher compared to no negative revisions, helping the consensus estimate increase 12.74%.
Favorable Zacks Rank
Thanks to promising estimate revisions, Okta currently carries a Zacks Rank #2 (Buy). The Zacks Rank is a tried-and-tested rating tool that helps investors effectively harness the power of earnings estimate revisions and make the right investment decision. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Our research shows that stocks with Zacks Rank #1 (Strong Buy) and 2 (Buy) significantly outperform the S&P 500.
Bottom Line
Okta shares have added 6.2% over the past four weeks, suggesting that investors are betting on its impressive estimate revisions. So, you may consider adding it to your portfolio right away to benefit from its earnings growth prospects.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
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
Okta, Inc. (OKTA) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
The rising trend in estimate revisions, which is a result of growing analyst optimism on the earnings prospects of this cloud identity management company, should get reflected in its stock price. The Zacks Rank is a tried-and-tested rating tool that helps investors effectively harness the power of earnings estimate revisions and make the right investment decision. Bottom Line Okta shares have added 6.2% over the past four weeks, suggesting that investors are betting on its impressive estimate revisions.
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Current-Quarter Estimate Revisions The earnings estimate of $0.51 per share for the current quarter represents a change of +70% from the number reported a year ago. Over the last 30 days, the Zacks Consensus Estimate for Okta has increased 26.11% because 12 estimates have moved higher compared to no negative revisions. Over the past month, 14 estimates have moved higher compared to no negative revisions, helping the consensus estimate increase 12.74%.
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The five-grade Zacks Rank system, which ranges from a Zacks Rank #1 (Strong Buy) to a Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record of outperformance, with Zacks #1 Ranked stocks generating an average annual return of +25% since 2008. Over the last 30 days, the Zacks Consensus Estimate for Okta has increased 26.11% because 12 estimates have moved higher compared to no negative revisions. Favorable Zacks Rank Thanks to promising estimate revisions, Okta currently carries a Zacks Rank #2 (Buy).
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Consensus earnings estimates for the next quarter and full year have moved considerably higher for Okta, as there has been strong agreement among the covering analysts in raising estimates. In terms of estimate revisions, the trend for the current year also appears quite encouraging for Okta. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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1d188e1f-4d4b-4aff-80d0-0e1ae6ec6043
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714505.0
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2023-12-06 00:00:00 UTC
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PBYI or TECH: Which Is the Better Value Stock Right Now?
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DCOMP
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https://www.nasdaq.com/articles/pbyi-or-tech%3A-which-is-the-better-value-stock-right-now-1
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nan
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nan
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Investors interested in Medical - Biomedical and Genetics stocks are likely familiar with Puma Biotech (PBYI) and Techne (TECH). But which of these two stocks offers value investors a better bang for their buck right now? We'll need to take a closer look.
Everyone has their own methods for finding great value opportunities, but our model includes pairing an impressive grade in the Value category of our Style Scores system with a strong Zacks Rank. The Zacks Rank favors stocks with strong earnings estimate revision trends, and our Style Scores highlight companies with specific traits.
Puma Biotech has a Zacks Rank of #1 (Strong Buy), while Techne has a Zacks Rank of #3 (Hold) right now. This means that PBYI's earnings estimate revision activity has been more impressive, so investors should feel comfortable with its improving analyst outlook. But this is just one piece of the puzzle for value investors.
Value investors also try to analyze a wide range of traditional figures and metrics to help determine whether a company is undervalued at its current share price levels.
Our Value category grades stocks based on a number of key metrics, including the tried-and-true P/E ratio, the P/S ratio, earnings yield, and cash flow per share, as well as a variety of other fundamentals that value investors frequently use.
PBYI currently has a forward P/E ratio of 5.18, while TECH has a forward P/E of 34.58. We also note that PBYI has a PEG ratio of 0.85. This popular figure is similar to the widely-used P/E ratio, but the PEG ratio also considers a company's expected EPS growth rate. TECH currently has a PEG ratio of 4.77.
Another notable valuation metric for PBYI is its P/B ratio of 4.58. The P/B ratio is used to compare a stock's market value with its book value, which is defined as total assets minus total liabilities. For comparison, TECH has a P/B of 5.10.
Based on these metrics and many more, PBYI holds a Value grade of A, while TECH has a Value grade of D.
PBYI has seen stronger estimate revision activity and sports more attractive valuation metrics than TECH, so it seems like value investors will conclude that PBYI is the superior option right now.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
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
Puma Biotechnology, Inc. (PBYI) : Free Stock Analysis Report
Bio-Techne Corp (TECH) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
Everyone has their own methods for finding great value opportunities, but our model includes pairing an impressive grade in the Value category of our Style Scores system with a strong Zacks Rank. The Zacks Rank favors stocks with strong earnings estimate revision trends, and our Style Scores highlight companies with specific traits. Value investors also try to analyze a wide range of traditional figures and metrics to help determine whether a company is undervalued at its current share price levels.
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The Zacks Rank favors stocks with strong earnings estimate revision trends, and our Style Scores highlight companies with specific traits. Puma Biotech has a Zacks Rank of #1 (Strong Buy), while Techne has a Zacks Rank of #3 (Hold) right now. Click to get this free report Puma Biotechnology, Inc. (PBYI) : Free Stock Analysis Report Bio-Techne Corp (TECH) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Our Value category grades stocks based on a number of key metrics, including the tried-and-true P/E ratio, the P/S ratio, earnings yield, and cash flow per share, as well as a variety of other fundamentals that value investors frequently use. Based on these metrics and many more, PBYI holds a Value grade of A, while TECH has a Value grade of D. PBYI has seen stronger estimate revision activity and sports more attractive valuation metrics than TECH, so it seems like value investors will conclude that PBYI is the superior option right now. Click to get this free report Puma Biotechnology, Inc. (PBYI) : Free Stock Analysis Report Bio-Techne Corp (TECH) : Free Stock Analysis Report To read this article on Zacks.com click here.
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TECH currently has a PEG ratio of 4.77. Based on these metrics and many more, PBYI holds a Value grade of A, while TECH has a Value grade of D. PBYI has seen stronger estimate revision activity and sports more attractive valuation metrics than TECH, so it seems like value investors will conclude that PBYI is the superior option right now. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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3157cc19-fcda-465d-94c4-2fa6e10b0036
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714506.0
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2023-12-06 00:00:00 UTC
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Notable Wednesday Option Activity: NFLX, C, ULTA
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DCOMP
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https://www.nasdaq.com/articles/notable-wednesday-option-activity%3A-nflx-c-ulta
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nan
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nan
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Looking at options trading activity among components of the S&P 500 index, there is noteworthy activity today in Netflix Inc (Symbol: NFLX), where a total volume of 67,569 contracts has been traded thus far today, a contract volume which is representative of approximately 6.8 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 197.1% of NFLX's average daily trading volume over the past month, of 3.4 million shares. Particularly high volume was seen for the $460 strike call option expiring December 08, 2023, with 4,762 contracts trading so far today, representing approximately 476,200 underlying shares of NFLX. Below is a chart showing NFLX's trailing twelve month trading history, with the $460 strike highlighted in orange:
Citigroup Inc (Symbol: C) saw options trading volume of 290,299 contracts, representing approximately 29.0 million underlying shares or approximately 186.2% of C's average daily trading volume over the past month, of 15.6 million shares. Particularly high volume was seen for the $51 strike call option expiring December 15, 2023, with 52,011 contracts trading so far today, representing approximately 5.2 million underlying shares of C. Below is a chart showing C's trailing twelve month trading history, with the $51 strike highlighted in orange:
And Ulta Beauty Inc (Symbol: ULTA) options are showing a volume of 16,043 contracts thus far today. That number of contracts represents approximately 1.6 million underlying shares, working out to a sizeable 170.5% of ULTA's average daily trading volume over the past month, of 941,010 shares. Particularly high volume was seen for the $500 strike call option expiring December 08, 2023, with 2,233 contracts trading so far today, representing approximately 223,300 underlying shares of ULTA. Below is a chart showing ULTA's trailing twelve month trading history, with the $500 strike highlighted in orange:
For the various different available expirations for NFLX options, C options, or ULTA options, visit StockOptionsChannel.com.
Today's Most Active Call & Put Options of the S&P 500 »
Also see:
Top Ten Hedge Funds Holding SCHK
AVAV Earnings Surprises
Funds Holding MTB
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
Particularly high volume was seen for the $460 strike call option expiring December 08, 2023, with 4,762 contracts trading so far today, representing approximately 476,200 underlying shares of NFLX. Particularly high volume was seen for the $51 strike call option expiring December 15, 2023, with 52,011 contracts trading so far today, representing approximately 5.2 million underlying shares of C. Below is a chart showing C's trailing twelve month trading history, with the $51 strike highlighted in orange: And Ulta Beauty Inc (Symbol: ULTA) options are showing a volume of 16,043 contracts thus far today. Particularly high volume was seen for the $500 strike call option expiring December 08, 2023, with 2,233 contracts trading so far today, representing approximately 223,300 underlying shares of ULTA.
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Particularly high volume was seen for the $460 strike call option expiring December 08, 2023, with 4,762 contracts trading so far today, representing approximately 476,200 underlying shares of NFLX. Below is a chart showing NFLX's trailing twelve month trading history, with the $460 strike highlighted in orange: Citigroup Inc (Symbol: C) saw options trading volume of 290,299 contracts, representing approximately 29.0 million underlying shares or approximately 186.2% of C's average daily trading volume over the past month, of 15.6 million shares. Particularly high volume was seen for the $51 strike call option expiring December 15, 2023, with 52,011 contracts trading so far today, representing approximately 5.2 million underlying shares of C. Below is a chart showing C's trailing twelve month trading history, with the $51 strike highlighted in orange: And Ulta Beauty Inc (Symbol: ULTA) options are showing a volume of 16,043 contracts thus far today.
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Looking at options trading activity among components of the S&P 500 index, there is noteworthy activity today in Netflix Inc (Symbol: NFLX), where a total volume of 67,569 contracts has been traded thus far today, a contract volume which is representative of approximately 6.8 million underlying shares (given that every 1 contract represents 100 underlying shares). Below is a chart showing NFLX's trailing twelve month trading history, with the $460 strike highlighted in orange: Citigroup Inc (Symbol: C) saw options trading volume of 290,299 contracts, representing approximately 29.0 million underlying shares or approximately 186.2% of C's average daily trading volume over the past month, of 15.6 million shares. Particularly high volume was seen for the $51 strike call option expiring December 15, 2023, with 52,011 contracts trading so far today, representing approximately 5.2 million underlying shares of C. Below is a chart showing C's trailing twelve month trading history, with the $51 strike highlighted in orange: And Ulta Beauty Inc (Symbol: ULTA) options are showing a volume of 16,043 contracts thus far today.
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Below is a chart showing NFLX's trailing twelve month trading history, with the $460 strike highlighted in orange: Citigroup Inc (Symbol: C) saw options trading volume of 290,299 contracts, representing approximately 29.0 million underlying shares or approximately 186.2% of C's average daily trading volume over the past month, of 15.6 million shares. Particularly high volume was seen for the $51 strike call option expiring December 15, 2023, with 52,011 contracts trading so far today, representing approximately 5.2 million underlying shares of C. Below is a chart showing C's trailing twelve month trading history, with the $51 strike highlighted in orange: And Ulta Beauty Inc (Symbol: ULTA) options are showing a volume of 16,043 contracts thus far today. That number of contracts represents approximately 1.6 million underlying shares, working out to a sizeable 170.5% of ULTA's average daily trading volume over the past month, of 941,010 shares.
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ad9e21ff-8672-47d8-93ad-ed3b13a5c8c9
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714507.0
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2023-12-06 00:00:00 UTC
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All You Need to Know About Payoneer Global Inc. (PAYO) Rating Upgrade to Buy
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DCOMP
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https://www.nasdaq.com/articles/all-you-need-to-know-about-payoneer-global-inc.-payo-rating-upgrade-to-buy
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nan
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nan
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Investors might want to bet on Payoneer Global Inc. (PAYO), as it has been recently upgraded to a Zacks Rank #2 (Buy). This upgrade primarily reflects an upward trend in earnings estimates, which is one of the most powerful forces impacting stock prices.
The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the system.
The power of a changing earnings picture in determining near-term stock price movements makes the Zacks rating system highly useful for individual investors, since it can be difficult to make decisions based on rating upgrades by Wall Street analysts. These are mostly driven by subjective factors that are hard to see and measure in real time.
As such, the Zacks rating upgrade for Payoneer Global Inc. is essentially a positive comment on its earnings outlook that could have a favorable impact on its stock price.
Most Powerful Force Impacting Stock Prices
The change in a company's future earnings potential, as reflected in earnings estimate revisions, has proven to be strongly correlated with the near-term price movement of its stock. The influence of institutional investors has a partial contribution to this relationship, as these big professionals use earnings and earnings estimates to calculate the fair value of a company's shares. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. Their transaction of large amounts of shares then leads to price movement for the stock.
For Payoneer Global Inc. rising earnings estimates and the consequent rating upgrade fundamentally mean an improvement in the company's underlying business. And investors' appreciation of this improving business trend should push the stock higher.
Harnessing the Power of Earnings Estimate Revisions
Empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, so it could be truly rewarding if such revisions are tracked for making an investment decision. Here is where the tried-and-tested Zacks Rank stock-rating system plays an important role, as it effectively harnesses the power of earnings estimate revisions.
The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here >>>>.
Earnings Estimate Revisions for Payoneer Global Inc.
For the fiscal year ending December 2023, this company is expected to earn $0.23 per share, which is a change of 866.7% from the year-ago reported number.
Analysts have been steadily raising their estimates for Payoneer Global Inc. Over the past three months, the Zacks Consensus Estimate for the company has increased 4.7%.
Bottom Line
Unlike the overly optimistic Wall Street analysts whose rating systems tend to be weighted toward favorable recommendations, the Zacks rating system maintains an equal proportion of 'buy' and 'sell' ratings for its entire universe of more than 4000 stocks at any point in time. Irrespective of market conditions, only the top 5% of the Zacks-covered stocks get a 'Strong Buy' rating and the next 15% get a 'Buy' rating. So, the placement of a stock in the top 20% of the Zacks-covered stocks indicates its superior earnings estimate revision feature, making it a solid candidate for producing market-beating returns in the near term.
You can learn more about the Zacks Rank here >>>
The upgrade of Payoneer Global Inc. to a Zacks Rank #2 positions it in the top 20% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
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
Payoneer Global Inc. (PAYO) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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As such, the Zacks rating upgrade for Payoneer Global Inc. is essentially a positive comment on its earnings outlook that could have a favorable impact on its stock price. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. Here is where the tried-and-tested Zacks Rank stock-rating system plays an important role, as it effectively harnesses the power of earnings estimate revisions.
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The power of a changing earnings picture in determining near-term stock price movements makes the Zacks rating system highly useful for individual investors, since it can be difficult to make decisions based on rating upgrades by Wall Street analysts. Harnessing the Power of Earnings Estimate Revisions Empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, so it could be truly rewarding if such revisions are tracked for making an investment decision. You can learn more about the Zacks Rank here >>> The upgrade of Payoneer Global Inc. to a Zacks Rank #2 positions it in the top 20% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term.
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Most Powerful Force Impacting Stock Prices The change in a company's future earnings potential, as reflected in earnings estimate revisions, has proven to be strongly correlated with the near-term price movement of its stock. The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can learn more about the Zacks Rank here >>> The upgrade of Payoneer Global Inc. to a Zacks Rank #2 positions it in the top 20% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term.
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Most Powerful Force Impacting Stock Prices The change in a company's future earnings potential, as reflected in earnings estimate revisions, has proven to be strongly correlated with the near-term price movement of its stock. Harnessing the Power of Earnings Estimate Revisions Empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, so it could be truly rewarding if such revisions are tracked for making an investment decision. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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9180d0e2-9c7d-4ff5-912c-e5568cb0b320
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714508.0
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2023-12-06 00:00:00 UTC
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G-III Apparel (GIII) Q3 Earnings Beat, Sales Improve Y/Y
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DCOMP
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https://www.nasdaq.com/articles/g-iii-apparel-giii-q3-earnings-beat-sales-improve-y-y
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nan
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nan
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G-III Apparel Group, Ltd. GIII posted better-than-expected earnings in third-quarter fiscal 2024, wherein the bottom line beat the Zacks Consensus Estimate and improved year over year. However, sales missed the consensus mark and fell year over year. Adjusted earnings of $2.78 per share outpaced the consensus estimate of earnings of $2.08 per share. Also, the bottom line increased from the year-earlier quarter’s earnings of $1.35 per share.
Quarterly results reflected the company's ability to successfully navigate tough market conditions. Also, moderation in freight costs and disciplined inventory management were tailwinds. Management remains focused on growing brands, including the company’s own brands. Its brands represented $1.3 billion in annual revenues last year and the company is on track to reach $1.5 billion this year. G-III Apparel aims to grow these brands to more than $3 billion in annual revenues over time.
The company’s long-term license for Nautica in North America, initially with jeans and later expanding to a wider range of additional categories, is set to launch in early 2024 to more than 200 doors. Further, a master global license with the option to buy Halston is likely to launch in the fall of 2024.
Shares of this Zacks Rank #3 (Hold) company have surged 51.6%, outperforming the industry’s 12.4% rise in the past three months.
Q3 in Detail
Net sales dipped 1% year over year to $1,067.1 million and missed the Zacks Consensus Estimate of $1,131 million. Lower sales at the wholesale division, offset by higher sales at the retail unit, aided the overall top line. Net sales for the Wholesale segment were $1.05 billion, down from $1.07 billion recorded in the last-year period and the metric at the Retail segment was $33 million, up 13.8% from the prior-year quarter’s reported figure.
G-III Apparel Group, LTD. Price, Consensus and EPS Surprise
G-III Apparel Group, LTD. price-consensus-eps-surprise-chart | G-III Apparel Group, LTD. Quote
The company’s brands, DKNY, Karl Lagerfeld, Donna Karan and Bergan experienced another period of sturdy double-digit increase year over year. Its key international brands also saw robust sales growth.
Moreover, gross profit jumped 25.8% year over year to $433.4 million. SG&A expenses dipped 1.5% year over year to $236.3 million. Further, operating income was $190.3 million in the fiscal third quarter compared with $97.2 million in the year-earlier quarter.
The company has announced that it has appointed Dana Perlman as its new Chief Growth and Operations Officer, who will oversee Strategy, Finance, Communications, Information Technology, and other Operating functions.
Other Financial Details
G-III Apparel ended third-quarter fiscal 2024 with cash and cash equivalents of $197.4 million and total debt of $461.9 million. Total stockholders’ equity was $1,503.2 million. Inventory declined 34% to $592 million at the end of the reported quarter. It had a net debt position of about $265 million at the quarter end.
The company exited the quarter in a solid financial position with $840 million in cash and availability. It utilized $100 million to pay down $75 million of debt and $26 million of share repurchases. G-III Apparel had 10 million shares available in its buyback program.
Outlook
Management raised GAAP and non-GAAP net income per share guidance for fiscal 2024. For fiscal 2024, management projects net sales to be about $3.15 billion and net income to be $175-$180 million, or between $3.75 per share and $3.85 per share. This compares with net sales of $3.23 billion and a net loss of $(133.1) million, or $(2.79) per share, for fiscal 2023.
The company envisions adjusted net income in the band of $182-$187 million, or between $3.90 per share and $4.00 per share. This compares with adjusted net income of $138.8 million, or $2.85 per share, for fiscal 2023. Management estimates adjusted EBITDA to be $317-$322 million for fiscal 2024 versus adjusted EBITDA of $266.1 million in fiscal 2023.
The company anticipates ending the year with the gross margin up nearly 600 bps from fiscal 2023. It expects SG&A will deleverage in the fiscal fourth quarter owing to the inflationary pressures on costs. It estimates a tax rate of 28% for the rest of the fiscal year.
Eye These Solid Picks
Some top-ranked companies are Royal Caribbean RCL, lululemon athletica LULU and Ralph Lauren RL.
Royal Caribbean sports a Zacks Rank #1 (Strong Buy), at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
RCL has a trailing four-quarter earnings surprise of 28.3%, on average. The Zacks Consensus Estimate for RCL’s 2023 sales and earnings per share (EPS) indicates increases of 57.7% and 187.9%, respectively, from the year-ago period’s reported levels.
lululemon athletica is a yoga-inspired athletic apparel company. LULU carries a Zacks Rank #2 (Buy), at present.
The Zacks Consensus Estimate for lululemon athletica’s current financial-year sales and EPS suggests growth of 18.1% and 20.5%, respectively, from the year-ago corresponding figures. LULU has a trailing four-quarter earnings surprise of 6.8%, on average.
Ralph Lauren, a footwear and accessories dealer, has a Zacks Rank of 2 at present. RL has a trailing four-quarter earnings surprise of 18%, on average.
The Zacks Consensus Estimate for Ralph Lauren’s current financial-year sales and EPS suggests growth of 1.4% and 13.1%, respectively, from the year-ago corresponding figures.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
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
Royal Caribbean Cruises Ltd. (RCL) : Free Stock Analysis Report
Ralph Lauren Corporation (RL) : Free Stock Analysis Report
lululemon athletica inc. (LULU) : Free Stock Analysis Report
G-III Apparel Group, LTD. (GIII) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The company’s long-term license for Nautica in North America, initially with jeans and later expanding to a wider range of additional categories, is set to launch in early 2024 to more than 200 doors. Eye These Solid Picks Some top-ranked companies are Royal Caribbean RCL, lululemon athletica LULU and Ralph Lauren RL. The Zacks Consensus Estimate for Ralph Lauren’s current financial-year sales and EPS suggests growth of 1.4% and 13.1%, respectively, from the year-ago corresponding figures.
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G-III Apparel Group, LTD. Price, Consensus and EPS Surprise G-III Apparel Group, LTD. price-consensus-eps-surprise-chart | G-III Apparel Group, LTD. Quote The company’s brands, DKNY, Karl Lagerfeld, Donna Karan and Bergan experienced another period of sturdy double-digit increase year over year. Other Financial Details G-III Apparel ended third-quarter fiscal 2024 with cash and cash equivalents of $197.4 million and total debt of $461.9 million. Click to get this free report Royal Caribbean Cruises Ltd. (RCL) : Free Stock Analysis Report Ralph Lauren Corporation (RL) : Free Stock Analysis Report lululemon athletica inc. (LULU) : Free Stock Analysis Report G-III Apparel Group, LTD. (GIII) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Q3 in Detail Net sales dipped 1% year over year to $1,067.1 million and missed the Zacks Consensus Estimate of $1,131 million. G-III Apparel Group, LTD. Price, Consensus and EPS Surprise G-III Apparel Group, LTD. price-consensus-eps-surprise-chart | G-III Apparel Group, LTD. Quote The company’s brands, DKNY, Karl Lagerfeld, Donna Karan and Bergan experienced another period of sturdy double-digit increase year over year. Click to get this free report Royal Caribbean Cruises Ltd. (RCL) : Free Stock Analysis Report Ralph Lauren Corporation (RL) : Free Stock Analysis Report lululemon athletica inc. (LULU) : Free Stock Analysis Report G-III Apparel Group, LTD. (GIII) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Q3 in Detail Net sales dipped 1% year over year to $1,067.1 million and missed the Zacks Consensus Estimate of $1,131 million. Further, operating income was $190.3 million in the fiscal third quarter compared with $97.2 million in the year-earlier quarter. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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e8c1fd74-15ab-4cdb-a81f-4502e9e4da23
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714509.0
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2023-12-06 00:00:00 UTC
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Dick's Sporting Goods (DKS) Is Up 12.16% in One Week: What You Should Know
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DCOMP
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https://www.nasdaq.com/articles/dicks-sporting-goods-dks-is-up-12.16-in-one-week%3A-what-you-should-know
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nan
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nan
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Momentum investing revolves around the idea of following a stock's recent trend in either direction. In the 'long' context, investors will be essentially be "buying high, but hoping to sell even higher." With this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving that way. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.
Even though momentum is a popular stock characteristic, it can be tough to define. Debate surrounding which are the best and worst metrics to focus on is lengthy, but the Zacks Momentum Style Score, part of the Zacks Style Scores, helps address this issue for us.
Below, we take a look at Dick's Sporting Goods (DKS), which currently has a Momentum Style Score of B. We also discuss some of the main drivers of the Momentum Style Score, like price change and earnings estimate revisions.
It's also important to note that Style Scores work as a complement to the Zacks Rank, our stock rating system that has an impressive track record of outperformance. Dick's Sporting Goods currently has a Zacks Rank of #2 (Buy). Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of A or B outperform the market over the following one-month period.
You can see the current list of Zacks #1 Rank Stocks here >>>
Set to Beat the Market?
In order to see if DKS is a promising momentum pick, let's examine some Momentum Style elements to see if this sporting goods retailer holds up.
A good momentum benchmark for a stock is to look at its short-term price activity, as this can reflect both current interest and if buyers or sellers currently have the upper hand. It's also helpful to compare a security to its industry; this can show investors the best companies in a particular area.
For DKS, shares are up 12.16% over the past week while the Zacks Retail - Miscellaneous industry is up 2.28% over the same time period. Shares are looking quite well from a longer time frame too, as the monthly price change of 20.39% compares favorably with the industry's 4.02% performance as well.
While any stock can see a spike in price, it takes a real winner to consistently outperform the market. Shares of Dick's Sporting Goods have increased 24.01% over the past quarter, and have gained 17.68% in the last year. In comparison, the S&P 500 has only moved 2% and 15.97%, respectively.
Investors should also take note of DKS's average 20-day trading volume. Volume is a useful item in many ways, and the 20-day average establishes a good price-to-volume baseline; a rising stock with above average volume is generally a bullish sign, whereas a declining stock on above average volume is typically bearish. Right now, DKS is averaging 1,795,481 shares for the last 20 days.
Earnings Outlook
The Zacks Momentum Style Score encompasses many things, including estimate revisions and a stock's price movement. Investors should note that earnings estimates are also significant to the Zacks Rank, and a nice path here can be promising. We have recently been noticing this with DKS.
Over the past two months, 9 earnings estimates moved higher compared to none lower for the full year. These revisions helped boost DKS's consensus estimate, increasing from $11.82 to $12.24 in the past 60 days. Looking at the next fiscal year, 7 estimates have moved upwards while there have been 1 downward revision in the same time period.
Bottom Line
Taking into account all of these elements, it should come as no surprise that DKS is a #2 (Buy) stock with a Momentum Score of B. If you've been searching for a fresh pick that's set to rise in the near-term, make sure to keep Dick's Sporting Goods on your short list.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
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
DICK'S Sporting Goods, Inc. (DKS) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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It's also important to note that Style Scores work as a complement to the Zacks Rank, our stock rating system that has an impressive track record of outperformance. Earnings Outlook The Zacks Momentum Style Score encompasses many things, including estimate revisions and a stock's price movement. As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys."
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We also discuss some of the main drivers of the Momentum Style Score, like price change and earnings estimate revisions. Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of A or B outperform the market over the following one-month period. Click to get this free report DICK'S Sporting Goods, Inc. (DKS) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of A or B outperform the market over the following one-month period. Volume is a useful item in many ways, and the 20-day average establishes a good price-to-volume baseline; a rising stock with above average volume is generally a bullish sign, whereas a declining stock on above average volume is typically bearish. Earnings Outlook The Zacks Momentum Style Score encompasses many things, including estimate revisions and a stock's price movement.
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Below, we take a look at Dick's Sporting Goods (DKS), which currently has a Momentum Style Score of B. Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of A or B outperform the market over the following one-month period. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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fe2d92b3-5de1-4047-954d-f5bee6b35045
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714510.0
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2023-12-06 00:00:00 UTC
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What Makes PDD Holdings Inc. (PDD) a Strong Momentum Stock: Buy Now?
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DCOMP
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https://www.nasdaq.com/articles/what-makes-pdd-holdings-inc.-pdd-a-strong-momentum-stock%3A-buy-now
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nan
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nan
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Momentum investing is all about the idea of following a stock's recent trend, which can be in either direction. In the 'long' context, investors will essentially be "buying high, but hoping to sell even higher." And for investors following this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving in that direction. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.
While many investors like to look for momentum in stocks, this can be very tough to define. There is a lot of debate surrounding which metrics are the best to focus on and which are poor quality indicators of future performance. The Zacks Momentum Style Score, part of the Zacks Style Scores, helps address this issue for us.
Below, we take a look at PDD Holdings Inc. (PDD), which currently has a Momentum Style Score of A. We also discuss some of the main drivers of the Momentum Style Score, like price change and earnings estimate revisions.
It's also important to note that Style Scores work as a complement to the Zacks Rank, our stock rating system that has an impressive track record of outperformance. PDD Holdings Inc. Currently has a Zacks Rank of #1 (Strong Buy). Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of A or B outperform the market over the following one-month period.
You can see the current list of Zacks #1 Rank Stocks here >>>
Set to Beat the Market?
In order to see if PDD is a promising momentum pick, let's examine some Momentum Style elements to see if this company holds up.
A good momentum benchmark for a stock is to look at its short-term price activity, as this can reflect both current interest and if buyers or sellers currently have the upper hand. It is also useful to compare a security to its industry, as this can help investors pinpoint the top companies in a particular area.
For PDD, shares are up 22.38% over the past week while the Zacks Internet - Commerce industry is up 1.22% over the same time period. Shares are looking quite well from a longer time frame too, as the monthly price change of 31.17% compares favorably with the industry's 2.92% performance as well.
Considering longer term price metrics, like performance over the last three months or year, can be advantageous as well. Over the past quarter, shares of PDD Holdings Inc. Have risen 45.08%, and are up 65.07% in the last year. In comparison, the S&P 500 has only moved 2% and 15.97%, respectively.
Investors should also take note of PDD's average 20-day trading volume. Volume is a useful item in many ways, and the 20-day average establishes a good price-to-volume baseline; a rising stock with above average volume is generally a bullish sign, whereas a declining stock on above average volume is typically bearish. Right now, PDD is averaging 8,617,491 shares for the last 20 days.
Earnings Outlook
The Zacks Momentum Style Score encompasses many things, including estimate revisions and a stock's price movement. Investors should note that earnings estimates are also significant to the Zacks Rank, and a nice path here can be promising. We have recently been noticing this with PDD.
Over the past two months, 3 earnings estimates moved higher compared to none lower for the full year. These revisions helped boost PDD's consensus estimate, increasing from $4.93 to $5.69 in the past 60 days. Looking at the next fiscal year, 3 estimates have moved upwards while there have been no downward revisions in the same time period.
Bottom Line
Taking into account all of these elements, it should come as no surprise that PDD is a #1 (Strong Buy) stock with a Momentum Score of A. If you've been searching for a fresh pick that's set to rise in the near-term, make sure to keep PDD Holdings Inc. On your short list.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
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
PDD Holdings Inc. (PDD) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
It's also important to note that Style Scores work as a complement to the Zacks Rank, our stock rating system that has an impressive track record of outperformance. Earnings Outlook The Zacks Momentum Style Score encompasses many things, including estimate revisions and a stock's price movement. Zacks Reveals ChatGPT "Sleeper" Stock One little-known company is at the heart of an especially brilliant Artificial Intelligence sector.
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We also discuss some of the main drivers of the Momentum Style Score, like price change and earnings estimate revisions. Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of A or B outperform the market over the following one-month period. Click to get this free report PDD Holdings Inc. (PDD) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Below, we take a look at PDD Holdings Inc. (PDD), which currently has a Momentum Style Score of A. Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of A or B outperform the market over the following one-month period. Earnings Outlook The Zacks Momentum Style Score encompasses many things, including estimate revisions and a stock's price movement.
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Below, we take a look at PDD Holdings Inc. (PDD), which currently has a Momentum Style Score of A. Over the past two months, 3 earnings estimates moved higher compared to none lower for the full year. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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7be6d594-f903-4f5d-8054-900884f4266f
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714511.0
|
2023-12-06 00:00:00 UTC
|
Cardinal (CAH) Upgraded to Buy: Here's What You Should Know
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DCOMP
|
https://www.nasdaq.com/articles/cardinal-cah-upgraded-to-buy%3A-heres-what-you-should-know
|
nan
|
nan
|
Cardinal Health (CAH) appears an attractive pick, as it has been recently upgraded to a Zacks Rank #2 (Buy). This upgrade primarily reflects an upward trend in earnings estimates, which is one of the most powerful forces impacting stock prices.
The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate.
The power of a changing earnings picture in determining near-term stock price movements makes the Zacks rating system highly useful for individual investors, since it can be difficult to make decisions based on rating upgrades by Wall Street analysts. These are mostly driven by subjective factors that are hard to see and measure in real time.
Therefore, the Zacks rating upgrade for Cardinal basically reflects positivity about its earnings outlook that could translate into buying pressure and an increase in its stock price.
Most Powerful Force Impacting Stock Prices
The change in a company's future earnings potential, as reflected in earnings estimate revisions, and the near-term price movement of its stock are proven to be strongly correlated. That's partly because of the influence of institutional investors that use earnings and earnings estimates for calculating the fair value of a company's shares. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. Their transaction of large amounts of shares then leads to price movement for the stock.
Fundamentally speaking, rising earnings estimates and the consequent rating upgrade for Cardinal imply an improvement in the company's underlying business. Investors should show their appreciation for this improving business trend by pushing the stock higher.
Harnessing the Power of Earnings Estimate Revisions
Empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, so it could be truly rewarding if such revisions are tracked for making an investment decision. Here is where the tried-and-tested Zacks Rank stock-rating system plays an important role, as it effectively harnesses the power of earnings estimate revisions.
The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here >>>>.
Earnings Estimate Revisions for Cardinal
For the fiscal year ending June 2024, this prescription drug distributor is expected to earn $6.89 per share, which is a change of 19% from the year-ago reported number.
Analysts have been steadily raising their estimates for Cardinal. Over the past three months, the Zacks Consensus Estimate for the company has increased 3.5%.
Bottom Line
Unlike the overly optimistic Wall Street analysts whose rating systems tend to be weighted toward favorable recommendations, the Zacks rating system maintains an equal proportion of 'buy' and 'sell' ratings for its entire universe of more than 4000 stocks at any point in time. Irrespective of market conditions, only the top 5% of the Zacks-covered stocks get a 'Strong Buy' rating and the next 15% get a 'Buy' rating. So, the placement of a stock in the top 20% of the Zacks-covered stocks indicates its superior earnings estimate revision feature, making it a solid candidate for producing market-beating returns in the near term.
You can learn more about the Zacks Rank here >>>
The upgrade of Cardinal to a Zacks Rank #2 positions it in the top 20% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
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
Cardinal Health, Inc. (CAH) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
Therefore, the Zacks rating upgrade for Cardinal basically reflects positivity about its earnings outlook that could translate into buying pressure and an increase in its stock price. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. Here is where the tried-and-tested Zacks Rank stock-rating system plays an important role, as it effectively harnesses the power of earnings estimate revisions.
|
The power of a changing earnings picture in determining near-term stock price movements makes the Zacks rating system highly useful for individual investors, since it can be difficult to make decisions based on rating upgrades by Wall Street analysts. Most Powerful Force Impacting Stock Prices The change in a company's future earnings potential, as reflected in earnings estimate revisions, and the near-term price movement of its stock are proven to be strongly correlated. Harnessing the Power of Earnings Estimate Revisions Empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, so it could be truly rewarding if such revisions are tracked for making an investment decision.
|
Most Powerful Force Impacting Stock Prices The change in a company's future earnings potential, as reflected in earnings estimate revisions, and the near-term price movement of its stock are proven to be strongly correlated. The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can learn more about the Zacks Rank here >>> The upgrade of Cardinal to a Zacks Rank #2 positions it in the top 20% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term.
|
Therefore, the Zacks rating upgrade for Cardinal basically reflects positivity about its earnings outlook that could translate into buying pressure and an increase in its stock price. Harnessing the Power of Earnings Estimate Revisions Empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, so it could be truly rewarding if such revisions are tracked for making an investment decision. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
|
369e7bc7-73a4-4651-97da-3596f9326af5
|
714512.0
|
2023-12-06 00:00:00 UTC
|
What Makes Adecoagro (AGRO) a New Strong Buy Stock
|
DCOMP
|
https://www.nasdaq.com/articles/what-makes-adecoagro-agro-a-new-strong-buy-stock
|
nan
|
nan
|
Adecoagro (AGRO) could be a solid addition to your portfolio given its recent upgrade to a Zacks Rank #1 (Strong Buy). This rating change essentially reflects an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.
The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the system.
The power of a changing earnings picture in determining near-term stock price movements makes the Zacks rating system highly useful for individual investors, since it can be difficult to make decisions based on rating upgrades by Wall Street analysts. These are mostly driven by subjective factors that are hard to see and measure in real time.
Therefore, the Zacks rating upgrade for Adecoagro basically reflects positivity about its earnings outlook that could translate into buying pressure and an increase in its stock price.
Most Powerful Force Impacting Stock Prices
The change in a company's future earnings potential, as reflected in earnings estimate revisions, and the near-term price movement of its stock are proven to be strongly correlated. That's partly because of the influence of institutional investors that use earnings and earnings estimates for calculating the fair value of a company's shares. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. Their transaction of large amounts of shares then leads to price movement for the stock.
Fundamentally speaking, rising earnings estimates and the consequent rating upgrade for Adecoagro imply an improvement in the company's underlying business. Investors should show their appreciation for this improving business trend by pushing the stock higher.
Harnessing the Power of Earnings Estimate Revisions
As empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, tracking such revisions for making an investment decision could be truly rewarding. Here is where the tried-and-tested Zacks Rank stock-rating system plays an important role, as it effectively harnesses the power of earnings estimate revisions.
The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here >>>>.
Earnings Estimate Revisions for Adecoagro
This producer of agricultural products and renewable energy is expected to earn $1.17 per share for the fiscal year ending December 2023, which represents a year-over-year change of 3.5%.
Analysts have been steadily raising their estimates for Adecoagro. Over the past three months, the Zacks Consensus Estimate for the company has increased 12.9%.
Bottom Line
Unlike the overly optimistic Wall Street analysts whose rating systems tend to be weighted toward favorable recommendations, the Zacks rating system maintains an equal proportion of 'buy' and 'sell' ratings for its entire universe of more than 4000 stocks at any point in time. Irrespective of market conditions, only the top 5% of the Zacks-covered stocks get a 'Strong Buy' rating and the next 15% get a 'Buy' rating. So, the placement of a stock in the top 20% of the Zacks-covered stocks indicates its superior earnings estimate revision feature, making it a solid candidate for producing market-beating returns in the near term.
You can learn more about the Zacks Rank here >>>
The upgrade of Adecoagro to a Zacks Rank #1 positions it in the top 5% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
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
Adecoagro S.A. (AGRO) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
Therefore, the Zacks rating upgrade for Adecoagro basically reflects positivity about its earnings outlook that could translate into buying pressure and an increase in its stock price. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. Here is where the tried-and-tested Zacks Rank stock-rating system plays an important role, as it effectively harnesses the power of earnings estimate revisions.
|
The power of a changing earnings picture in determining near-term stock price movements makes the Zacks rating system highly useful for individual investors, since it can be difficult to make decisions based on rating upgrades by Wall Street analysts. Most Powerful Force Impacting Stock Prices The change in a company's future earnings potential, as reflected in earnings estimate revisions, and the near-term price movement of its stock are proven to be strongly correlated. Harnessing the Power of Earnings Estimate Revisions As empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, tracking such revisions for making an investment decision could be truly rewarding.
|
Most Powerful Force Impacting Stock Prices The change in a company's future earnings potential, as reflected in earnings estimate revisions, and the near-term price movement of its stock are proven to be strongly correlated. The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can learn more about the Zacks Rank here >>> The upgrade of Adecoagro to a Zacks Rank #1 positions it in the top 5% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term.
|
Therefore, the Zacks rating upgrade for Adecoagro basically reflects positivity about its earnings outlook that could translate into buying pressure and an increase in its stock price. You can learn more about the Zacks Rank here >>> The upgrade of Adecoagro to a Zacks Rank #1 positions it in the top 5% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
|
144232f1-973a-4c1a-83b8-9a1e1bb061ab
|
714513.0
|
2023-12-06 00:00:00 UTC
|
Udemy, Inc. (UDMY) Upgraded to Buy: Here's What You Should Know
|
DCOMP
|
https://www.nasdaq.com/articles/udemy-inc.-udmy-upgraded-to-buy%3A-heres-what-you-should-know
|
nan
|
nan
|
Investors might want to bet on Udemy, Inc. (UDMY), as it has been recently upgraded to a Zacks Rank #2 (Buy). This upgrade is essentially a reflection of an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.
The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the system.
Since a changing earnings picture is a powerful factor influencing near-term stock price movements, the Zacks rating system is very useful for individual investors. They may find it difficult to make decisions based on rating upgrades by Wall Street analysts, as these are mostly driven by subjective factors that are hard to see and measure in real time.
As such, the Zacks rating upgrade for Udemy, Inc. is essentially a positive comment on its earnings outlook that could have a favorable impact on its stock price.
Most Powerful Force Impacting Stock Prices
The change in a company's future earnings potential, as reflected in earnings estimate revisions, and the near-term price movement of its stock are proven to be strongly correlated. The influence of institutional investors has a partial contribution to this relationship, as these big professionals use earnings and earnings estimates to calculate the fair value of a company's shares. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. Their transaction of large amounts of shares then leads to price movement for the stock.
Fundamentally speaking, rising earnings estimates and the consequent rating upgrade for Udemy, Inc. imply an improvement in the company's underlying business. Investors should show their appreciation for this improving business trend by pushing the stock higher.
Harnessing the Power of Earnings Estimate Revisions
As empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, tracking such revisions for making an investment decision could be truly rewarding. Here is where the tried-and-tested Zacks Rank stock-rating system plays an important role, as it effectively harnesses the power of earnings estimate revisions.
The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here >>>>.
Earnings Estimate Revisions for Udemy, Inc.
This company is expected to earn -$0.04 per share for the fiscal year ending December 2023, which represents a year-over-year change of 91.7%.
Analysts have been steadily raising their estimates for Udemy, Inc. Over the past three months, the Zacks Consensus Estimate for the company has increased 8.7%.
Bottom Line
Unlike the overly optimistic Wall Street analysts whose rating systems tend to be weighted toward favorable recommendations, the Zacks rating system maintains an equal proportion of 'buy' and 'sell' ratings for its entire universe of more than 4000 stocks at any point in time. Irrespective of market conditions, only the top 5% of the Zacks-covered stocks get a 'Strong Buy' rating and the next 15% get a 'Buy' rating. So, the placement of a stock in the top 20% of the Zacks-covered stocks indicates its superior earnings estimate revision feature, making it a solid candidate for producing market-beating returns in the near term.
You can learn more about the Zacks Rank here >>>
The upgrade of Udemy, Inc. to a Zacks Rank #2 positions it in the top 20% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
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
Udemy, Inc. (UDMY) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
Since a changing earnings picture is a powerful factor influencing near-term stock price movements, the Zacks rating system is very useful for individual investors. They may find it difficult to make decisions based on rating upgrades by Wall Street analysts, as these are mostly driven by subjective factors that are hard to see and measure in real time. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it.
|
Since a changing earnings picture is a powerful factor influencing near-term stock price movements, the Zacks rating system is very useful for individual investors. Most Powerful Force Impacting Stock Prices The change in a company's future earnings potential, as reflected in earnings estimate revisions, and the near-term price movement of its stock are proven to be strongly correlated. Harnessing the Power of Earnings Estimate Revisions As empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, tracking such revisions for making an investment decision could be truly rewarding.
|
Most Powerful Force Impacting Stock Prices The change in a company's future earnings potential, as reflected in earnings estimate revisions, and the near-term price movement of its stock are proven to be strongly correlated. The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can learn more about the Zacks Rank here >>> The upgrade of Udemy, Inc. to a Zacks Rank #2 positions it in the top 20% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term.
|
Since a changing earnings picture is a powerful factor influencing near-term stock price movements, the Zacks rating system is very useful for individual investors. You can learn more about the Zacks Rank here >>> The upgrade of Udemy, Inc. to a Zacks Rank #2 positions it in the top 20% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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5260f3fb-5b40-4f88-92de-74fd1ccc518f
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714514.0
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2023-12-06 00:00:00 UTC
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Are You Looking for a Top Momentum Pick? Why Tuya Inc. Sponsored ADR (TUYA) is a Great Choice
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DCOMP
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https://www.nasdaq.com/articles/are-you-looking-for-a-top-momentum-pick-why-tuya-inc.-sponsored-adr-tuya-is-a-great-choice
|
nan
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nan
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Momentum investing is all about the idea of following a stock's recent trend, which can be in either direction. In the 'long' context, investors will essentially be "buying high, but hoping to sell even higher." And for investors following this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving in that direction. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.
Even though momentum is a popular stock characteristic, it can be tough to define. Debate surrounding which are the best and worst metrics to focus on is lengthy, but the Zacks Momentum Style Score, part of the Zacks Style Scores, helps address this issue for us.
Below, we take a look at Tuya Inc. Sponsored ADR (TUYA), a company that currently holds a Momentum Style Score of A. We also talk about price change and earnings estimate revisions, two of the main aspects of the Momentum Style Score.
It's also important to note that Style Scores work as a complement to the Zacks Rank, our stock rating system that has an impressive track record of outperformance. Tuya Inc. Sponsored ADR currently has a Zacks Rank of #2 (Buy). Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of A or B outperform the market over the following one-month period.
You can see the current list of Zacks #1 Rank Stocks here >>>
Set to Beat the Market?
In order to see if TUYA is a promising momentum pick, let's examine some Momentum Style elements to see if this company holds up.
Looking at a stock's short-term price activity is a great way to gauge if it has momentum, since this can reflect both the current interest in a stock and if buyers or sellers have the upper hand at the moment. It is also useful to compare a security to its industry, as this can help investors pinpoint the top companies in a particular area.
For TUYA, shares are up 21.28% over the past week while the Zacks Internet - Software industry is up 2.5% over the same time period. Shares are looking quite well from a longer time frame too, as the monthly price change of 36.84% compares favorably with the industry's 6.06% performance as well.
While any stock can see a spike in price, it takes a real winner to consistently outperform the market. Shares of Tuya Inc. Sponsored ADR have increased 48.1% over the past quarter, and have gained 52.94% in the last year. In comparison, the S&P 500 has only moved 2% and 15.97%, respectively.
Investors should also pay attention to TUYA's average 20-day trading volume. Volume is a useful item in many ways, and the 20-day average establishes a good price-to-volume baseline; a rising stock with above average volume is generally a bullish sign, whereas a declining stock on above average volume is typically bearish. TUYA is currently averaging 371,088 shares for the last 20 days.
Earnings Outlook
The Zacks Momentum Style Score encompasses many things, including estimate revisions and a stock's price movement. Investors should note that earnings estimates are also significant to the Zacks Rank, and a nice path here can be promising. We have recently been noticing this with TUYA.
Over the past two months, 1 earnings estimate moved higher compared to none lower for the full year. These revisions helped boost TUYA's consensus estimate, increasing from $0.01 to $0.03 in the past 60 days. Looking at the next fiscal year, 1 estimate has moved upwards while there have been no downward revisions in the same time period.
Bottom Line
Taking into account all of these elements, it should come as no surprise that TUYA is a #2 (Buy) stock with a Momentum Score of A. If you've been searching for a fresh pick that's set to rise in the near-term, make sure to keep Tuya Inc. Sponsored ADR on your short list.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
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
Tuya Inc. Sponsored ADR (TUYA) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
It's also important to note that Style Scores work as a complement to the Zacks Rank, our stock rating system that has an impressive track record of outperformance. Earnings Outlook The Zacks Momentum Style Score encompasses many things, including estimate revisions and a stock's price movement. As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys."
|
Debate surrounding which are the best and worst metrics to focus on is lengthy, but the Zacks Momentum Style Score, part of the Zacks Style Scores, helps address this issue for us. Sponsored ADR (TUYA), a company that currently holds a Momentum Style Score of A. Over the past two months, 1 earnings estimate moved higher compared to none lower for the full year.
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Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of A or B outperform the market over the following one-month period. Earnings Outlook The Zacks Momentum Style Score encompasses many things, including estimate revisions and a stock's price movement. Bottom Line Taking into account all of these elements, it should come as no surprise that TUYA is a #2 (Buy) stock with a Momentum Score of A.
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Sponsored ADR (TUYA), a company that currently holds a Momentum Style Score of A. Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of A or B outperform the market over the following one-month period. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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21f12698-4f3c-4ff8-a4ae-b6da1eb1b583
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714515.0
|
2023-12-06 00:00:00 UTC
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SmartRent, Inc. (SMRT) Is Up 2.52% in One Week: What You Should Know
|
DCOMP
|
https://www.nasdaq.com/articles/smartrent-inc.-smrt-is-up-2.52-in-one-week%3A-what-you-should-know
|
nan
|
nan
|
Momentum investing revolves around the idea of following a stock's recent trend in either direction. In the 'long' context, investors will be essentially be "buying high, but hoping to sell even higher." With this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving that way. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.
While many investors like to look for momentum in stocks, this can be very tough to define. There is a lot of debate surrounding which metrics are the best to focus on and which are poor quality indicators of future performance. The Zacks Momentum Style Score, part of the Zacks Style Scores, helps address this issue for us.
Below, we take a look at SmartRent, Inc. (SMRT), a company that currently holds a Momentum Style Score of B. We also talk about price change and earnings estimate revisions, two of the main aspects of the Momentum Style Score.
It's also important to note that Style Scores work as a complement to the Zacks Rank, our stock rating system that has an impressive track record of outperformance. SmartRent, Inc. Currently has a Zacks Rank of #2 (Buy). Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of A or B outperform the market over the following one-month period.
You can see the current list of Zacks #1 Rank Stocks here >>>
Set to Beat the Market?
Let's discuss some of the components of the Momentum Style Score for SMRT that show why this company shows promise as a solid momentum pick.
A good momentum benchmark for a stock is to look at its short-term price activity, as this can reflect both current interest and if buyers or sellers currently have the upper hand. It's also helpful to compare a security to its industry; this can show investors the best companies in a particular area.
For SMRT, shares are up 2.52% over the past week while the Zacks Technology Services industry is up 0.95% over the same time period. Shares are looking quite well from a longer time frame too, as the monthly price change of 11.19% compares favorably with the industry's 0.86% performance as well.
Considering longer term price metrics, like performance over the last three months or year, can be advantageous as well. Shares of SmartRent, Inc. Have increased 18.41% over the past quarter, and have gained 48.42% in the last year. In comparison, the S&P 500 has only moved 2% and 15.97%, respectively.
Investors should also pay attention to SMRT's average 20-day trading volume. Volume is a useful item in many ways, and the 20-day average establishes a good price-to-volume baseline; a rising stock with above average volume is generally a bullish sign, whereas a declining stock on above average volume is typically bearish. SMRT is currently averaging 1,029,637 shares for the last 20 days.
Earnings Outlook
The Zacks Momentum Style Score encompasses many things, including estimate revisions and a stock's price movement. Investors should note that earnings estimates are also significant to the Zacks Rank, and a nice path here can be promising. We have recently been noticing this with SMRT.
Over the past two months, 3 earnings estimates moved higher compared to none lower for the full year. These revisions helped boost SMRT's consensus estimate, increasing from -$0.19 to -$0.17 in the past 60 days. Looking at the next fiscal year, 3 estimates have moved upwards while there have been no downward revisions in the same time period.
Bottom Line
Taking into account all of these elements, it should come as no surprise that SMRT is a #2 (Buy) stock with a Momentum Score of B. If you've been searching for a fresh pick that's set to rise in the near-term, make sure to keep SmartRent, Inc. On your short list.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
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
SmartRent, Inc. (SMRT) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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It's also important to note that Style Scores work as a complement to the Zacks Rank, our stock rating system that has an impressive track record of outperformance. Earnings Outlook The Zacks Momentum Style Score encompasses many things, including estimate revisions and a stock's price movement. Zacks Reveals ChatGPT "Sleeper" Stock One little-known company is at the heart of an especially brilliant Artificial Intelligence sector.
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Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of A or B outperform the market over the following one-month period. Let's discuss some of the components of the Momentum Style Score for SMRT that show why this company shows promise as a solid momentum pick. Over the past two months, 3 earnings estimates moved higher compared to none lower for the full year.
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The Zacks Momentum Style Score, part of the Zacks Style Scores, helps address this issue for us. Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of A or B outperform the market over the following one-month period. Earnings Outlook The Zacks Momentum Style Score encompasses many things, including estimate revisions and a stock's price movement.
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SMRT is currently averaging 1,029,637 shares for the last 20 days. Over the past two months, 3 earnings estimates moved higher compared to none lower for the full year. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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6ad4201c-1d06-4a1f-a6a9-f9950af73696
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714516.0
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2023-12-06 00:00:00 UTC
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SKX vs. NKE: Which Stock Is the Better Value Option?
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DCOMP
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https://www.nasdaq.com/articles/skx-vs.-nke%3A-which-stock-is-the-better-value-option-1
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nan
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nan
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Investors interested in Shoes and Retail Apparel stocks are likely familiar with Skechers (SKX) and Nike (NKE). But which of these two stocks offers value investors a better bang for their buck right now? We'll need to take a closer look.
Everyone has their own methods for finding great value opportunities, but our model includes pairing an impressive grade in the Value category of our Style Scores system with a strong Zacks Rank. The proven Zacks Rank puts an emphasis on earnings estimates and estimate revisions, while our Style Scores work to identify stocks with specific traits.
Both Skechers and Nike have a Zacks Rank of # 2 (Buy) right now. Investors should feel comfortable knowing that both of these stocks have an improving earnings outlook since the Zacks Rank favors companies that have witnessed positive analyst estimate revisions. But this is only part of the picture for value investors.
Value investors also tend to look at a number of traditional, tried-and-true figures to help them find stocks that they believe are undervalued at their current share price levels.
The Style Score Value grade factors in a variety of key fundamental metrics, including the popular P/E ratio, P/S ratio, earnings yield, cash flow per share, and a number of other key stats that are commonly used by value investors.
SKX currently has a forward P/E ratio of 17.42, while NKE has a forward P/E of 30.87. We also note that SKX has a PEG ratio of 0.64. This figure is similar to the commonly-used P/E ratio, with the PEG ratio also factoring in a company's expected earnings growth rate. NKE currently has a PEG ratio of 1.92.
Another notable valuation metric for SKX is its P/B ratio of 2.14. The P/B ratio pits a stock's market value against its book value, which is defined as total assets minus total liabilities. For comparison, NKE has a P/B of 12.59.
Based on these metrics and many more, SKX holds a Value grade of B, while NKE has a Value grade of D.
Both SKX and NKE are impressive stocks with solid earnings outlooks, but based on these valuation figures, we feel that SKX is the superior value option right now.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
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
Skechers U.S.A., Inc. (SKX) : Free Stock Analysis Report
NIKE, Inc. (NKE) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Everyone has their own methods for finding great value opportunities, but our model includes pairing an impressive grade in the Value category of our Style Scores system with a strong Zacks Rank. Investors should feel comfortable knowing that both of these stocks have an improving earnings outlook since the Zacks Rank favors companies that have witnessed positive analyst estimate revisions. Value investors also tend to look at a number of traditional, tried-and-true figures to help them find stocks that they believe are undervalued at their current share price levels.
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Based on these metrics and many more, SKX holds a Value grade of B, while NKE has a Value grade of D. Both SKX and NKE are impressive stocks with solid earnings outlooks, but based on these valuation figures, we feel that SKX is the superior value option right now. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research? Click to get this free report Skechers U.S.A., Inc. (SKX) : Free Stock Analysis Report NIKE, Inc. (NKE) : Free Stock Analysis Report To read this article on Zacks.com click here.
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The Style Score Value grade factors in a variety of key fundamental metrics, including the popular P/E ratio, P/S ratio, earnings yield, cash flow per share, and a number of other key stats that are commonly used by value investors. Based on these metrics and many more, SKX holds a Value grade of B, while NKE has a Value grade of D. Both SKX and NKE are impressive stocks with solid earnings outlooks, but based on these valuation figures, we feel that SKX is the superior value option right now. Click to get this free report Skechers U.S.A., Inc. (SKX) : Free Stock Analysis Report NIKE, Inc. (NKE) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Both Skechers and Nike have a Zacks Rank of # 2 (Buy) right now. Based on these metrics and many more, SKX holds a Value grade of B, while NKE has a Value grade of D. Both SKX and NKE are impressive stocks with solid earnings outlooks, but based on these valuation figures, we feel that SKX is the superior value option right now. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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93b24f4e-56c8-46e4-8dac-988a58cb8afb
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714517.0
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2023-12-06 00:00:00 UTC
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Griffon (GFF) Upgraded to Buy: What Does It Mean for the Stock?
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DCOMP
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https://www.nasdaq.com/articles/griffon-gff-upgraded-to-buy%3A-what-does-it-mean-for-the-stock
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nan
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nan
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Griffon (GFF) could be a solid choice for investors given its recent upgrade to a Zacks Rank #2 (Buy). This upgrade primarily reflects an upward trend in earnings estimates, which is one of the most powerful forces impacting stock prices.
The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the system.
Individual investors often find it hard to make decisions based on rating upgrades by Wall Street analysts, since these are mostly driven by subjective factors that are hard to see and measure in real time. In these situations, the Zacks rating system comes in handy because of the power of a changing earnings picture in determining near-term stock price movements.
As such, the Zacks rating upgrade for Griffon is essentially a positive comment on its earnings outlook that could have a favorable impact on its stock price.
Most Powerful Force Impacting Stock Prices
The change in a company's future earnings potential, as reflected in earnings estimate revisions, and the near-term price movement of its stock are proven to be strongly correlated. The influence of institutional investors has a partial contribution to this relationship, as these big professionals use earnings and earnings estimates to calculate the fair value of a company's shares. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. Their bulk investment action then leads to price movement for the stock.
For Griffon, rising earnings estimates and the consequent rating upgrade fundamentally mean an improvement in the company's underlying business. And investors' appreciation of this improving business trend should push the stock higher.
Harnessing the Power of Earnings Estimate Revisions
As empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, tracking such revisions for making an investment decision could be truly rewarding. Here is where the tried-and-tested Zacks Rank stock-rating system plays an important role, as it effectively harnesses the power of earnings estimate revisions.
The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here >>>>.
Earnings Estimate Revisions for Griffon
For the fiscal year ending September 2024, this garage door and building products maker is expected to earn $4.21 per share, which is a change of -7.3% from the year-ago reported number.
Analysts have been steadily raising their estimates for Griffon. Over the past three months, the Zacks Consensus Estimate for the company has increased 3.5%.
Bottom Line
Unlike the overly optimistic Wall Street analysts whose rating systems tend to be weighted toward favorable recommendations, the Zacks rating system maintains an equal proportion of 'buy' and 'sell' ratings for its entire universe of more than 4000 stocks at any point in time. Irrespective of market conditions, only the top 5% of the Zacks-covered stocks get a 'Strong Buy' rating and the next 15% get a 'Buy' rating. So, the placement of a stock in the top 20% of the Zacks-covered stocks indicates its superior earnings estimate revision feature, making it a solid candidate for producing market-beating returns in the near term.
You can learn more about the Zacks Rank here >>>
The upgrade of Griffon to a Zacks Rank #2 positions it in the top 20% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
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
Griffon Corporation (GFF) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In these situations, the Zacks rating system comes in handy because of the power of a changing earnings picture in determining near-term stock price movements. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. Here is where the tried-and-tested Zacks Rank stock-rating system plays an important role, as it effectively harnesses the power of earnings estimate revisions.
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Most Powerful Force Impacting Stock Prices The change in a company's future earnings potential, as reflected in earnings estimate revisions, and the near-term price movement of its stock are proven to be strongly correlated. Harnessing the Power of Earnings Estimate Revisions As empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, tracking such revisions for making an investment decision could be truly rewarding. The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988.
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Most Powerful Force Impacting Stock Prices The change in a company's future earnings potential, as reflected in earnings estimate revisions, and the near-term price movement of its stock are proven to be strongly correlated. The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can learn more about the Zacks Rank here >>> The upgrade of Griffon to a Zacks Rank #2 positions it in the top 20% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term.
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In these situations, the Zacks rating system comes in handy because of the power of a changing earnings picture in determining near-term stock price movements. Harnessing the Power of Earnings Estimate Revisions As empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, tracking such revisions for making an investment decision could be truly rewarding. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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55b13323-8a2c-4912-a137-27368a300bda
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714518.0
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2023-12-06 00:00:00 UTC
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4 Stocks to Buy on Solid Jump in Services Sector Activity
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DCOMP
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https://www.nasdaq.com/articles/4-stocks-to-buy-on-solid-jump-in-services-sector-activity
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nan
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nan
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The U.S. services sector, which has witnessed a slowdown lately owing to the ongoing inflationary pressures, is showing signs of recovery. Although new orders remained flat in November, overall services activity picked up, indicating a steady rebound as inflation continues to cool.
The rebound in the services sector activity is also an indication that people are now more confident about the economy making a softer landing than expected earlier, which is making them spend more. Given this situation, business services stocks like Affirm Holdings, Inc. AFRM, APi Group Corporation APG, Block, Inc. SQ and Rollins, Inc. ROL are likely to benefit in the near term.
Services Activity Grows
The Institute for Supply Management reported on Dec 4 that its services sector Purchasing Managers’ Index (PMI) rose to 52.7 in November after contracting to 51.8 in October, a five-month low. A reading of anything above 50 suggests an increase in service activity, which accounts for over two-thirds of the economy.
The New Orders Index measured 55.5 in November, unchanged from last month. However, the good sign is that spending on services is increasing. November’s jump was primarily driven by a solid rise in spending on business activity.
People have been spending cautiously over the past few months as higher interest rates are pinching their pockets. The Federal Reserve has hiked interest rates by 525 basis points since March 2022 in a bid to curb multi-decade high inflation. The Fed’s benchmark policy rate now stands in the range of 5.25-5.5%.
Easing inflation over the past year saw the central bank leaving interest rates unchanged in its last two policy meetings. The Fed has said that it is open to more interest rate hikes given that inflation, despite a steep decline, remains above its 2% target.
However, fresh jobs data, which hints at a cooling labor market, has raised hopes that the Fed might be done with its monetary tightening campaign and may start cutting interest rates early next year.
Consumers, too, have been spending freely. Consumer spending rose 0.2% in November, while inflation increased at its slowest pace annually in the past two-and-a-half years. Also, Consumer Confidence came in at 102 in November, surpassing estimates of a rise to 101.
Our Choices
Given this situation, it makes for an ideal opportunity to invest in these four stocks.
Affirm Holdings, Inc. is an emerging growth company. AFRM is building the next-generation platform for digital and mobile-first commerce. Affirm Holdings believes it can reinvent the payment experience.
Affirm Holdings’ expected earnings growth rate for the current year is 111.7%. The Zacks Consensus Estimate for current-year earnings has improved 143.8% over the past 60 days. AFRM presently has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
APi Group Corporation provides business services of safety, specialty and industrial. APG offers critical pipeline integrity and construction services for energy companies, utilities, public agencies, and contractors, as well as end-to-end fire protection solutions, including design, installation, inspection and service of fire protection systems.
APi Group’s expected earnings growth rate for the current year is 18.1%. The Zacks Consensus Estimate for current-year earnings has improved 4% over the past 60 days. APG presently carries a Zacks Rank #2.
Block, Inc. offers financial and marketing services through its comprehensive commerce ecosystem that helps sellers start, run and grow their businesses. SQ provides payment and point-of-sale services, which include hardware and software to accept payments, streamline operations and analyze business information.
Block’s expected earnings growth rate for the current year is 90%. The Zacks Consensus Estimate for current-year earnings has improved 17.3% over the past 60 days. SQ currently has a Zacks Rank #2.
Rollins, Inc. provides pest and termite control services to residential and commercial customers. ROL offers protection against termite damage, insects and rodents to homes and businesses, including food manufacturers, food service establishments, hotels, transportation companies and retailers.
Rollins’ expected earnings growth rate for the current year is 18.7%. The Zacks Consensus Estimate for current-year earnings has improved 3.5% over the past 60 days. ROL currently carries a Zacks Rank #2.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
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
Rollins, Inc. (ROL) : Free Stock Analysis Report
Block, Inc. (SQ) : Free Stock Analysis Report
APi Group Corporation (APG) : Free Stock Analysis Report
Affirm Holdings, Inc. (AFRM) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Given this situation, business services stocks like Affirm Holdings, Inc. AFRM, APi Group Corporation APG, Block, Inc. SQ and Rollins, Inc. ROL are likely to benefit in the near term. However, fresh jobs data, which hints at a cooling labor market, has raised hopes that the Fed might be done with its monetary tightening campaign and may start cutting interest rates early next year. Block, Inc. offers financial and marketing services through its comprehensive commerce ecosystem that helps sellers start, run and grow their businesses.
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Given this situation, business services stocks like Affirm Holdings, Inc. AFRM, APi Group Corporation APG, Block, Inc. SQ and Rollins, Inc. ROL are likely to benefit in the near term. Affirm Holdings’ expected earnings growth rate for the current year is 111.7%. Click to get this free report Rollins, Inc. (ROL) : Free Stock Analysis Report Block, Inc. (SQ) : Free Stock Analysis Report APi Group Corporation (APG) : Free Stock Analysis Report Affirm Holdings, Inc. (AFRM) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Given this situation, business services stocks like Affirm Holdings, Inc. AFRM, APi Group Corporation APG, Block, Inc. SQ and Rollins, Inc. ROL are likely to benefit in the near term. Services Activity Grows The Institute for Supply Management reported on Dec 4 that its services sector Purchasing Managers’ Index (PMI) rose to 52.7 in November after contracting to 51.8 in October, a five-month low. Click to get this free report Rollins, Inc. (ROL) : Free Stock Analysis Report Block, Inc. (SQ) : Free Stock Analysis Report APi Group Corporation (APG) : Free Stock Analysis Report Affirm Holdings, Inc. (AFRM) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Given this situation, business services stocks like Affirm Holdings, Inc. AFRM, APi Group Corporation APG, Block, Inc. SQ and Rollins, Inc. ROL are likely to benefit in the near term. Easing inflation over the past year saw the central bank leaving interest rates unchanged in its last two policy meetings. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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2527c857-0562-46f7-aacf-5dbf563deba7
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714519.0
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2023-12-06 00:00:00 UTC
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Disney begins integrating Hulu into Disney+ streaming service
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DCOMP
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https://www.nasdaq.com/articles/disney-begins-integrating-hulu-into-disney-streaming-service
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nan
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nan
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By Dawn Chmielewski
Dec 6 (Reuters) - Walt Disney DIS.N began offering Hulu as part of its namesake streaming service on Wednesday, bolstering Disney+'s family-friendly content with more general entertainment fare, such as FX's intense kitchen drama "The Bear" and the popular reality show "The Kardashians."
The combined offering, known as "Hulu on Disney+", will be available in an early "beta" version to domestic subscribers to the Disney Bundle of streaming services. The formal launch of the integrated service is scheduled for March.
Disney CEO Bob Iger told investors last month that the company would begin offering a "unified one-app experience" that would make Hulu's programs, including "Only Murders in the Building" ABC's "Abbott Elementary," adult animation stand-outs like "Family Guy," available to certain Disney+ subscribers.
"We expect that Hulu on Disney+ will result in increased engagement, greater advertising opportunities, lower churn, and reduced customer acquisition costs, thereby increasing our overall margins," Iger told investors in November, during the company's fiscal fourth quarter earnings call.
Iger is under pressure from investors to make Disney's streaming business profitable. In the quarter that ended on Sept. 30, Disney reduced operating losses to $420 million, representing a dramatic improvement from the prior year, when operating losses exceeded $1.4 billion.
The company said it is on track to achieve profitability by the end of fiscal 2024.
Disney initiated the process of acquiring the remaining stake in Hulu from NBCUniversal parent ComcastCMCSA.O, for at least $8.6 billion, which cleared the way for the integration.
Hulu will occupy its own "tile" on Disney+, alongside the company's other entertainment brands, such as Marvel, Star Wars and Pixar, and be included in the promotional carousel at the top of the app.
(Reporting by Dawn Chmielewski in New York; Editing by David Gregorio)
((Dawn.Chmielewski@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By Dawn Chmielewski Dec 6 (Reuters) - Walt Disney DIS.N began offering Hulu as part of its namesake streaming service on Wednesday, bolstering Disney+'s family-friendly content with more general entertainment fare, such as FX's intense kitchen drama "The Bear" and the popular reality show "The Kardashians." Disney CEO Bob Iger told investors last month that the company would begin offering a "unified one-app experience" that would make Hulu's programs, including "Only Murders in the Building" ABC's "Abbott Elementary," adult animation stand-outs like "Family Guy," available to certain Disney+ subscribers. Hulu will occupy its own "tile" on Disney+, alongside the company's other entertainment brands, such as Marvel, Star Wars and Pixar, and be included in the promotional carousel at the top of the app.
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By Dawn Chmielewski Dec 6 (Reuters) - Walt Disney DIS.N began offering Hulu as part of its namesake streaming service on Wednesday, bolstering Disney+'s family-friendly content with more general entertainment fare, such as FX's intense kitchen drama "The Bear" and the popular reality show "The Kardashians." Iger is under pressure from investors to make Disney's streaming business profitable. In the quarter that ended on Sept. 30, Disney reduced operating losses to $420 million, representing a dramatic improvement from the prior year, when operating losses exceeded $1.4 billion.
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By Dawn Chmielewski Dec 6 (Reuters) - Walt Disney DIS.N began offering Hulu as part of its namesake streaming service on Wednesday, bolstering Disney+'s family-friendly content with more general entertainment fare, such as FX's intense kitchen drama "The Bear" and the popular reality show "The Kardashians." Disney CEO Bob Iger told investors last month that the company would begin offering a "unified one-app experience" that would make Hulu's programs, including "Only Murders in the Building" ABC's "Abbott Elementary," adult animation stand-outs like "Family Guy," available to certain Disney+ subscribers. "We expect that Hulu on Disney+ will result in increased engagement, greater advertising opportunities, lower churn, and reduced customer acquisition costs, thereby increasing our overall margins," Iger told investors in November, during the company's fiscal fourth quarter earnings call.
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By Dawn Chmielewski Dec 6 (Reuters) - Walt Disney DIS.N began offering Hulu as part of its namesake streaming service on Wednesday, bolstering Disney+'s family-friendly content with more general entertainment fare, such as FX's intense kitchen drama "The Bear" and the popular reality show "The Kardashians." The combined offering, known as "Hulu on Disney+", will be available in an early "beta" version to domestic subscribers to the Disney Bundle of streaming services. Iger is under pressure from investors to make Disney's streaming business profitable.
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d796b553-41c6-447c-aa6c-f5a4fa89d3be
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714520.0
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2023-12-06 00:00:00 UTC
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American Water's (AWK) Pennsylvania Arm to Invest in Upgrade
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DCOMP
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https://www.nasdaq.com/articles/american-waters-awk-pennsylvania-arm-to-invest-in-upgrade
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nan
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nan
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American Water Works AWK announced that its unit, Pennsylvania American Water, will invest $4 million to upgrade 5,200 feet of water mains along North Main Avenue, Scranton. This new upgrade will provide high-quality, reliable and affordable water service and fire protection to the customers in the region.
The company will upgrade the water mains that are older than a century and are experiencing leaks, resulting in the wastage of potable water. Per the upgrade project, company contractors will install new 20- and 24-inch ductile iron pipes to replace the six- and 16-inch water mains along North Main Avenue, from Parker Street to Viewmont Drive. A larger diameter of the main will allow the company to handle system demands better and provide more reliable service to its expanding customer base.
Pennsylvanian American Water has been upgrading and maintaining its water and wastewater infrastructure. It has invested nearly $490 million in 2022 for infrastructure upgrades.
The company will continue to invest to make essential upgrades and maintain aging assets in the long term.
Investment Needed for the Aging Water Industry
Per the U.S. Environmental Protection Agency, investments of $473 billion and $271 billion are necessary to maintain and expand drinking water and wastewater pipelines, respectively, to meet demand over the next 20 years. Water infrastructure, like water mains, storage tanks and purifying units, needs maintenance at proper intervals.
The repair and upgrade of other infrastructures like overhead storage tanks, treatment plants and water reservoirs are essential to providing uninterrupted 24x7 services to customers.
Miles of aging pipelines essentially require repairs and upgrades to maintain quality water and wastewater services. A delay in repair could cause frequent disruptions in the 24x7 supply of potable water and sewer services.
Utilities Making Investments
America Water aims to invest $3.1 billion in 2024, with a major portion utilized for infrastructure improvements in Regulated Businesses. Over the long term, AWK aims to invest in the range of $16-17 billion in the 2024-2028 time period and $34-$38 billion in the 2024-2033 time period.
Other water utilities, like Essential Utilities WTRG, California Water Service Group CWT and Middlesex Water MSEX, have well-chalked-out capital investment plans to strengthen infrastructure.
Essential Utilities plans to invest $1.1 billion in 2023 and $3.3 billion through 2025 to improve the water and natural gas systems and better serve customers with the help of improved information technology.
California Water Service plans to invest more than $725 million in capital expenditures through 2024.
Middlesex Water plans to invest $181 million during 2024-2025 to strengthen its water and wastewater infrastructure and provide services to customers in a safe, reliable and efficient manner.
The Zacks Consensus Estimate for WTRG and CWT’s 2023 earnings indicates year-over-year growth of 5.1% and 7.9%, respectively.
Price Performance
Over the last month, American Water Works’ stock has increased by 4.2% compared with the industry’s 4.3% growth.
Image Source: Zacks Investment Research
Zacks Rank
American Water currently has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
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
American Water Works Company, Inc. (AWK) : Free Stock Analysis Report
California Water Service Group (CWT) : Free Stock Analysis Report
Middlesex Water Company (MSEX) : Free Stock Analysis Report
Essential Utilities Inc. (WTRG) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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A larger diameter of the main will allow the company to handle system demands better and provide more reliable service to its expanding customer base. The repair and upgrade of other infrastructures like overhead storage tanks, treatment plants and water reservoirs are essential to providing uninterrupted 24x7 services to customers. Miles of aging pipelines essentially require repairs and upgrades to maintain quality water and wastewater services.
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American Water Works AWK announced that its unit, Pennsylvania American Water, will invest $4 million to upgrade 5,200 feet of water mains along North Main Avenue, Scranton. Other water utilities, like Essential Utilities WTRG, California Water Service Group CWT and Middlesex Water MSEX, have well-chalked-out capital investment plans to strengthen infrastructure. Click to get this free report American Water Works Company, Inc. (AWK) : Free Stock Analysis Report California Water Service Group (CWT) : Free Stock Analysis Report Middlesex Water Company (MSEX) : Free Stock Analysis Report Essential Utilities Inc. (WTRG) : Free Stock Analysis Report To read this article on Zacks.com click here.
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American Water Works AWK announced that its unit, Pennsylvania American Water, will invest $4 million to upgrade 5,200 feet of water mains along North Main Avenue, Scranton. Other water utilities, like Essential Utilities WTRG, California Water Service Group CWT and Middlesex Water MSEX, have well-chalked-out capital investment plans to strengthen infrastructure. Click to get this free report American Water Works Company, Inc. (AWK) : Free Stock Analysis Report California Water Service Group (CWT) : Free Stock Analysis Report Middlesex Water Company (MSEX) : Free Stock Analysis Report Essential Utilities Inc. (WTRG) : Free Stock Analysis Report To read this article on Zacks.com click here.
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American Water Works AWK announced that its unit, Pennsylvania American Water, will invest $4 million to upgrade 5,200 feet of water mains along North Main Avenue, Scranton. As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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c96ad897-5d86-44ca-b332-2d3f25635c35
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714521.0
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2023-12-06 00:00:00 UTC
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3 Niche Tech Stocks With Untapped Potential
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DCOMP
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https://www.nasdaq.com/articles/3-niche-tech-stocks-with-untapped-potential
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nan
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
What comes to mind when you think of niche stock?
For some, it is one that flies under the radar of most investors. It could be a stock with little or no analyst coverage. It could be a company with technology that meets the needs of a smaller total addressable market (TAM).
In fact, Cambridge Dictionary defines niche as “a job or position that is very suitable for someone, especially one that they like.”
The following three niche tech stocks to buy are from the portfolio holdings of tech ETFs that specialize in niche products or services. For example, cloud-computing ETFs would not typically be considered as a niche businesses. AgTech ETFs could be.
So, let’s examine three tech stocks to buy that investors won’t likely find in some of the larger tech ETFs.
Sotera Health Company (SHC)
Source: motorolka / Shutterstock.com
Sotera Health Company (NASDAQ:SHC) is the sixth-smallest holding of the iShares Emergent Food and AgTech Multisector ETF (NASDAQ:IVEG). The ETF invests in U.S. and non-U.S. companies that will benefit from creating or using agricultural technologies.
Sotera’s three businesses of Sterigenics, Nordion, and Nelson Labs provide sterilization services, lab testing, and advisory services to healthcare companies. It has more than 5,800 customers in 50+ countries worldwide.
The downside? Most of the company’s proprietary technology is not patented. However, its sterilization work is very sensitive. For example, Nordion produces and sells Cobalt-60 (Co-60), a radioactive isotope used in radiation sterilization. It decays naturally at a rate of approximately 12% annually.
Also, the product undergoes quality assurance testing and is shipped in proprietary lead and steel containers. This is a big deal. Specifically, we’re talking about radioactive materials that must be treated with utmost care.
And, in Q3 of 2023, its revenues increased by 6% year over year (YOY) to $263 million. Additionally, its EBITDA rose by 7% to $134 million, making the 51% adjusted EBITDA margin is attractive.
SiTime Corp. (SITM)
Source: Michael Vi / Shutterstock.com
SiTime Corp. (NASDAQ:SITM) is one of the smallest holdings in the iShares Future Cloud 5G and Tech ETF (NYSEARCA:IDAT). The latter is a fund dedicated to stocks that could benefit from providing products and services for cloud computing and 5G.
Also, SiTime’s market capitalization of $2.3 billion is just 11% of the ETF’s average market cap of $21.6 billion.
Impressively, SiTime participates in the $8 billion global timing market. The company’s all-silicon timing systems solutions are used for a variety of electronics devices. Those include communications, automotive, industrial, aerospace, mobile, Internet of Things (IoT), and other industries requiring high-performance timing solutions.
Examples of their use include airbag sensors, inkjet printer heads, optical switches, blood pressure sensors, and many other mass-produced products. The company sells its precision timing products to distributors, with its top three distributors accounting for 70% of its revenue in 2022. Those, in turn, sell them to the end user – the largest being Apple (NASDAQ:AAPL).
Word to the wise. SiTime is not profitable on a GAAP basis at the moment. However, it did generate a small non-GAAP profit of $1.4 million in Q3 2023 on revenue of $35.5 million. Yet, considering the global cloud computing market estimated to be over $500 billion, the $8 billion market in which SiTime participates is truly niche.
Constellation Software (CNSWF)
Source: Shutterstock
Constellation Software (OTCMKTS:CNSWF) is the 14th-largest holding of the Franklin Intelligent Machines ETF (BATS:IQM). It is an actively managed fund investing in disruptive business models focused on machine learning and automation.
Like SiTime, Constellation Software is a niche business model. It’s a serial acquirer that the Economist recently called the tech version of Berkshire Hathaway (NYSE:BRK-B).
The company was created by Toronto venture capitalist Mark Leonard in 1995. His intention was to build verticals of software businesses in various industries through mergers, acquisitions, and organic growth.
Specifically, Constellation had $270 million in total assets in March 2008. And as of Sept. 30, CNSWF stood just over $10.0 billion. The company’s revenue through the first nine months were $6.1 billion, 27% higher than a year ago, with 6% organic growth, with the rest from acquisitions. Its free cash flow over the first nine months was $835 million, 48% higher than a year ago, suggesting it will generate close to $2 billion in 2023.
Since Constellation went public in May 2006, its shares have appreciated nearly 12,000%. Up 55% in 2023 and 257% over the past five years, it continues to deliver on its M&A.
On the date of publication, Will Ashworth did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Will Ashworth has written about investments full-time since 2008. Publications where he’s appeared include InvestorPlace, The Motley Fool Canada, Investopedia, Kiplinger, and several others in both the U.S. and Canada. He particularly enjoys creating model portfolios that stand the test of time. He lives in Halifax, Nova Scotia.
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The post 3 Niche Tech Stocks With Untapped Potential appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Its free cash flow over the first nine months was $835 million, 48% higher than a year ago, suggesting it will generate close to $2 billion in 2023. More From InvestorPlace The #1 AI Investment Might Be This Company You’ve Never Heard Of Musk’s “Project Omega” May Be Set to Mint New Millionaires. The Rich Use This Income Secret (NOT Dividends) Far More Than Regular Investors The post 3 Niche Tech Stocks With Untapped Potential appeared first on InvestorPlace.
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In fact, Cambridge Dictionary defines niche as “a job or position that is very suitable for someone, especially one that they like.” The following three niche tech stocks to buy are from the portfolio holdings of tech ETFs that specialize in niche products or services. Sotera Health Company (SHC) Source: motorolka / Shutterstock.com Sotera Health Company (NASDAQ:SHC) is the sixth-smallest holding of the iShares Emergent Food and AgTech Multisector ETF (NASDAQ:IVEG). Sotera’s three businesses of Sterigenics, Nordion, and Nelson Labs provide sterilization services, lab testing, and advisory services to healthcare companies.
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In fact, Cambridge Dictionary defines niche as “a job or position that is very suitable for someone, especially one that they like.” The following three niche tech stocks to buy are from the portfolio holdings of tech ETFs that specialize in niche products or services. Sotera Health Company (SHC) Source: motorolka / Shutterstock.com Sotera Health Company (NASDAQ:SHC) is the sixth-smallest holding of the iShares Emergent Food and AgTech Multisector ETF (NASDAQ:IVEG). Yet, considering the global cloud computing market estimated to be over $500 billion, the $8 billion market in which SiTime participates is truly niche.
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The ETF invests in U.S. and non-U.S. companies that will benefit from creating or using agricultural technologies. However, it did generate a small non-GAAP profit of $1.4 million in Q3 2023 on revenue of $35.5 million. Like SiTime, Constellation Software is a niche business model.
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f069ce45-9920-4222-aec5-5c56ba85e0fb
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714522.0
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2023-12-06 00:00:00 UTC
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US STOCKS-Wall St inches up on rate cut hopes; energy weighs
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DCOMP
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https://www.nasdaq.com/articles/us-stocks-wall-st-inches-up-on-rate-cut-hopes-energy-weighs
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nan
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nan
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By Amruta Khandekar and Shristi Achar A
Dec 6 (Reuters) - Wall Street edged higher on Wednesday as further signs of a cooling jobs market reinforced bets that the Federal Reserve could start cutting interest rates early next year, although weakness in energy shares kept a lid on gains.
Providing more evidence of labor market weakness following the drop in job openings on Tuesday, the ADP National Employment report showed private payrolls increased by 103,000 jobs in November, below economists' expectation of 130,000.
The data supported bets of peaking interest rates, which had helped equities rebound from their October lows. The benchmark S&P 500 .SPX gained nearly 9% in November, hitting its highest close of the year last week.
"Today is a continuation of the macro trend that the market believes the Fed is done hiking," said Joshua Chastant, senior investment analyst at GuideStone Funds, but added that the markets have been too optimistic about early rate cuts.
"We're not going to fight the Fed when they're saying that they're going to hold rates higher unless something materially changes. We are seeing things start to slow down in the economy... but we're not there yet."
Limiting gains, energy stocks .SPNY slid 1.1% as oil prices fell by 2%. O/R
Traders have nearly fully priced in the probability that the central bank will hold rates steady next week and expect to see rate cuts being delivered as soon as the first quarter of next year.
Bets of a cut of at least 25 basis points in March currently stand at nearly 62%, according to the CME Group's FedWatch tool.
However, a slim majority of economists in a Reuters poll said they believe the Fed will hold interest rates at least until July, later than earlier thought.
The main event of the week will be November's non-farm payrolls report, due on Friday, which will give investors more clarity about the state of the labor market and the outlook for interest rates.
At 11:24 a.m. ET, the Dow Jones Industrial Average .DJI was up 44.15 points, or 0.12%, at 36,168.71, the S&P 500 .SPX was up 3.42 points, or 0.07%, at 4,570.60, and the Nasdaq Composite .IXIC was up 15.76 points, or 0.11%, at 14,245.67.
Among other stocks, Plug PowerPLUG.O fell 2.8%, as Morgan Stanley downgraded the hydrogen fuel cell firm to "underweight" from "equal weight."
Campbell SoupCPB.Nadded 6.5% on surpassing quarterly profit expectations, helped by higher prices for its packaged meals and snacks.
Advancing issues outnumbered decliners by a 2.56-to-1 ratio on the NYSE and by a 2.16-to-1 ratio on the Nasdaq.
The S&P index recorded 28 new 52-week highs and no new lows, while the Nasdaq recorded 84 new highs and 56 new lows.
ADP https://tmsnrt.rs/47OJ3zh
(Reporting by Amruta Khandekar and Shristi Achar A; Editing by Pooja Desai)
((Amruta.Khandekar@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By Amruta Khandekar and Shristi Achar A Dec 6 (Reuters) - Wall Street edged higher on Wednesday as further signs of a cooling jobs market reinforced bets that the Federal Reserve could start cutting interest rates early next year, although weakness in energy shares kept a lid on gains. However, a slim majority of economists in a Reuters poll said they believe the Fed will hold interest rates at least until July, later than earlier thought. The main event of the week will be November's non-farm payrolls report, due on Friday, which will give investors more clarity about the state of the labor market and the outlook for interest rates.
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By Amruta Khandekar and Shristi Achar A Dec 6 (Reuters) - Wall Street edged higher on Wednesday as further signs of a cooling jobs market reinforced bets that the Federal Reserve could start cutting interest rates early next year, although weakness in energy shares kept a lid on gains. Campbell SoupCPB.Nadded 6.5% on surpassing quarterly profit expectations, helped by higher prices for its packaged meals and snacks. ADP https://tmsnrt.rs/47OJ3zh (Reporting by Amruta Khandekar and Shristi Achar A; Editing by Pooja Desai) ((Amruta.Khandekar@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By Amruta Khandekar and Shristi Achar A Dec 6 (Reuters) - Wall Street edged higher on Wednesday as further signs of a cooling jobs market reinforced bets that the Federal Reserve could start cutting interest rates early next year, although weakness in energy shares kept a lid on gains. O/R Traders have nearly fully priced in the probability that the central bank will hold rates steady next week and expect to see rate cuts being delivered as soon as the first quarter of next year. The main event of the week will be November's non-farm payrolls report, due on Friday, which will give investors more clarity about the state of the labor market and the outlook for interest rates.
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By Amruta Khandekar and Shristi Achar A Dec 6 (Reuters) - Wall Street edged higher on Wednesday as further signs of a cooling jobs market reinforced bets that the Federal Reserve could start cutting interest rates early next year, although weakness in energy shares kept a lid on gains. "We're not going to fight the Fed when they're saying that they're going to hold rates higher unless something materially changes. O/R Traders have nearly fully priced in the probability that the central bank will hold rates steady next week and expect to see rate cuts being delivered as soon as the first quarter of next year.
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88f005fd-1698-4c1d-9514-c305e1926f5f
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714523.0
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2023-12-06 00:00:00 UTC
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ITT Inc Shares Near 52-Week High - Market Mover
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DCOMP
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https://www.nasdaq.com/articles/itt-inc-shares-near-52-week-high-market-mover-1
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nan
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ITT Inc (ITT) shares closed today at 0.5% below its 52 week high of $112.59, giving the company a market cap of $9B. The stock is currently up 38.4% year-to-date, up 39.7% over the past 12 months, and up 125.6% over the past five years. This week, the Dow Jones Industrial Average rose 1.9%, and the S&P 500 rose 0.0%.
Trading Activity
Trading volume this week was 25.0% lower than the 20-day average.
Beta, a measure of the stock’s volatility relative to the overall market stands at 1.4.
Technical Indicators
The Relative Strength Index (RSI) on the stock was above 70, indicating it may be overbought.
MACD, a trend-following momentum indicator, indicates an upward trend.
The stock closed below its Bollinger band, indicating it may be oversold.
Market Comparative Performance
The company's share price is the same as the S&P 500 Index , beats it on a 1-year basis, and beats it on a 5-year basis
The company's share price is the same as the Dow Jones Industrial Average , beats it on a 1-year basis, and beats it on a 5-year basis
The company share price is the same as the performance of its peers in the Industrials industry sector , beats it on a 1-year basis, and beats it on a 5 year basis
Per Group Comparative Performance
The company's stock price performance year-to-date beats the peer average by 288.2%
The company's stock price performance over the past 12 months beats the peer average by 269.2%
The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is 69.3% higher than the average peer.
This story was produced by the Kwhen Automated News Generator. For more articles like this, please visit us at finance.kwhen.com. Write to editors@kwhen.com. © 2020 Kwhen Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Beta, a measure of the stock’s volatility relative to the overall market stands at 1.4. Market Comparative Performance The company's share price is the same as the S&P 500 Index , beats it on a 1-year basis, and beats it on a 5-year basis The company's share price is the same as the Dow Jones Industrial Average , beats it on a 1-year basis, and beats it on a 5-year basis The company share price is the same as the performance of its peers in the Industrials industry sector , beats it on a 1-year basis, and beats it on a 5 year basis Per Group Comparative Performance The company's stock price performance year-to-date beats the peer average by 288.2% The company's stock price performance over the past 12 months beats the peer average by 269.2% The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is 69.3% higher than the average peer. This story was produced by the Kwhen Automated News Generator.
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ITT Inc (ITT) shares closed today at 0.5% below its 52 week high of $112.59, giving the company a market cap of $9B. This week, the Dow Jones Industrial Average rose 1.9%, and the S&P 500 rose 0.0%. Market Comparative Performance The company's share price is the same as the S&P 500 Index , beats it on a 1-year basis, and beats it on a 5-year basis The company's share price is the same as the Dow Jones Industrial Average , beats it on a 1-year basis, and beats it on a 5-year basis The company share price is the same as the performance of its peers in the Industrials industry sector , beats it on a 1-year basis, and beats it on a 5 year basis Per Group Comparative Performance The company's stock price performance year-to-date beats the peer average by 288.2% The company's stock price performance over the past 12 months beats the peer average by 269.2% The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is 69.3% higher than the average peer.
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Market Comparative Performance The company's share price is the same as the S&P 500 Index , beats it on a 1-year basis, and beats it on a 5-year basis The company's share price is the same as the Dow Jones Industrial Average , beats it on a 1-year basis, and beats it on a 5-year basis The company share price is the same as the performance of its peers in the Industrials industry sector , beats it on a 1-year basis, and beats it on a 5 year basis Per Group Comparative Performance The company's stock price performance year-to-date beats the peer average by 288.2% The company's stock price performance over the past 12 months beats the peer average by 269.2% The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is 69.3% higher than the average peer. This story was produced by the Kwhen Automated News Generator. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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This week, the Dow Jones Industrial Average rose 1.9%, and the S&P 500 rose 0.0%. Technical Indicators The Relative Strength Index (RSI) on the stock was above 70, indicating it may be overbought. Market Comparative Performance The company's share price is the same as the S&P 500 Index , beats it on a 1-year basis, and beats it on a 5-year basis The company's share price is the same as the Dow Jones Industrial Average , beats it on a 1-year basis, and beats it on a 5-year basis The company share price is the same as the performance of its peers in the Industrials industry sector , beats it on a 1-year basis, and beats it on a 5 year basis Per Group Comparative Performance The company's stock price performance year-to-date beats the peer average by 288.2% The company's stock price performance over the past 12 months beats the peer average by 269.2% The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is 69.3% higher than the average peer.
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0edb1948-100f-45e8-ac9a-29173ffe1419
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714524.0
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2023-12-06 00:00:00 UTC
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US natgas drops 5% to near 3-month low as oil prices collapse
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DCOMP
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https://www.nasdaq.com/articles/us-natgas-drops-5-to-near-3-month-low-as-oil-prices-collapse
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nan
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nan
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By Scott DiSavino
Dec 6 (Reuters) - U.S. natural gas futures fell by about 5% on Wednesday to the lowest in nearly three months, pressured by a drop in oil prices, near-record U.S. gas output and forecasts for mostly mild weather through late December that should dent heating demand.
Analysts forecast U.S. gas stockpiles were about 7.2% above normal levels for this time of year. EIA/GASNGAS/POLL
Front-month gas futures NGc1 for January delivery on the New York Mercantile Exchange fell 12.9 cents, or 4.8%, to $2.581 per million British thermal units (mmBtu) at 12:04 p.m. EST (1704 GMT), on track for its lowest close since Sept. 7.
Oil prices dropped about 4% on a big rise in U.S. gasoline inventories. O/R
The futures market has been sending signals for weeks that many traders do not expect price spikes this winter (November-March) due to record production and ample amounts of gas in storage. Many in the market think futures for this heating season peaked in November.
The biggest sign the market has given up on higher prices during this winter was the collapse of the premium of March 2024 futures over April 2024 NGH24-J24 to a record low of just one cent per mmBtu.
The industry calls the March-April spread the "widow maker" because rapid price moves on changing weather forecasts have forced some speculators out of business, including the Amaranth hedge fund, which lost more than $6 billion in 2006.
Power and gas prices often soar when it turns cold in New England, wherepipeline constraints limit the amount of gas that can reach region. Most of it is used to heat homes and businesses, so power plants must switch to more expensive fuels like oil and liquefied natural gas (LNG).
In 2022, about 54% of power generated in New England came from gas-fired plants with the rest coming from nuclear (27%), hydro (7%), other (5%), wind (4%), oil (2%) and solar (1%).
SUPPLY AND DEMAND
Financial firm LSEG said average gas output in the Lower 48 U.S. states slid to 107.5 billion cubic feet per day (bcfd) so far in December from a record 107.8 bcfd in November.
Daily output was on track to drop by 2.1 bcfd over the past three days to a preliminary four-week low of 106.2 bcfd on Wednesday. Preliminary data is often revised later in the day.
Meteorologists projected the weather would turn from warmer-than-normal Dec. 6-12 to near-normal from Dec. 13-16, then back to warmer-than-normal from Dec. 17-21.
With colder weather coming, LSEG forecast U.S. gas demand in the Lower 48, including exports, would rise from 121.8 bcfd this week to 126.2 bcfd next week. Those forecasts were higher than LSEG's outlook on Tuesday.
Gas flows to the seven big U.S. LNG export plants rose to an average of 14.4 bcfd so far in December, up from a record 14.3 bcfd in November.
Week ended Dec 1 Forecast
Week ended Nov 24 Actual
Year ago Dec 1
Five-year average
Dec 1
U.S. weekly natgas storage change (bcf):
-101
+10
-30
-48
U.S. total natgas in storage (bcf):
3,735
3,836
3,465
3,485
U.S. total storage versus 5-year average
7.2%
8.6%
Global Gas Benchmark Futures ($ per mmBtu)
Current Day
Prior Day
This Month Last Year
Prior Year Average 2022
Five Year Average (2017-2021)
Henry Hub NGc1
2.73
2.71
5.77
6.54
2.89
Title Transfer Facility (TTF) TRNLTTFMc1
12.50
12.07
36.68
40.50
7.49
Japan Korea Marker (JKM) JKMc1
16.06
16.05
32.34
34.11
8.95
LSEG Heating (HDD), Cooling (CDD) and Total (TDD) Degree Days
Two-Week Total Forecast
Current Day
Prior Day
Prior Year
10-Year Norm
30-Year Norm
U.S. GFS HDDs
348
339
362
367
391
U.S. GFS CDDs
2
3
11
6
5
U.S. GFS TDDs
350
342
373
373
396
LSEG U.S. Weekly GFS Supply and Demand Forecasts
Prior Week
Current Week
Next Week
This Week Last Year
Five-Year (2018-2022) Average For Month
U.S. Supply (bcfd)
U.S. Lower 48 Dry Production
109.0
107.5
107.8
102.7
94.2
U.S. Imports from Canada8
8.6
8.7
9.0
9.1
9.1
U.S. LNG Imports
0.0
0.0
0.0
0.0
0.2
Total U.S. Supply
117.5
116.2
116.8
111.8
103.5
U.S. Demand (bcfd)
U.S. Exports to Canada
2.5
3.2
3.2
3.3
3.2
U.S. Exports to Mexico
4.8
4.1
5.3
5.6
5.0
U.S. LNG Exports
14.1
14.4
14.3
11.7
8.6
U.S. Commercial
15.5
13.2
14.2
13.5
14.6
U.S. Residential
25.5
21.0
23.2
21.8
24.7
U.S. Power Plant
33.8
33.5
32.9
30.9
28.6
U.S. Industrial
25.3
24.3
24.7
24.1
25.0
U.S. Plant Fuel
5.4
5.3
5.3
5.4
5.3
U.S. Pipe Distribution
2.9
2.7
2.7
2.9
2.9
U.S. Vehicle Fuel
0.1
0.1
0.1
0.1
0.1
Total U.S. Consumption
108.6
100.2
103.3
98.7
101.2
Total U.S. Demand
130.0
121.9
126.2
119.3
118.0
U.S. Northwest River Forecast Center (NWRFC) at The Dalles Dam
Current Day % of Normal Forecast
Prior Day % of Normal Forecast
2023
% of Normal Actual
2022 % of Normal Actual
2021 % of Normal Actual
Apr-Sep
86
88
83
107
81
Jan-Jul
84
86
77
102
79
Oct-Sep
85
86
76
103
81
U.S. weekly power generation percent by fuel - EIA
Week ended Dec 8
Week ended Dec 1
Week ended Nov 24
Week ended Nov 17
Week ended Nov 10
Wind
11
10
11
9
11
Solar
2
3
3
3
4
Hydro
5
6
6
6
5
Other
2
2
2
2
2
Petroleum
Natural Gas
41
42
39
42
41
Coal
17
17
16
17
16
Nuclear
22
20
22
21
20
SNL U.S. Natural Gas Next-Day Prices ($ per mmBtu)
Hub
Current Day
Prior Day
Henry Hub NG-W-HH-SNL
2.72
2.55
Transco Z6 New York NG-CG-NY-SNL
3.66
2.26
PG&E Citygate NG-CG-PGE-SNL
4.95
4.68
Eastern Gas (old Dominion South) NG-PCN-APP-SNL
2.31
2.13
Chicago Citygate NG-CG-CH-SNL
2.50
2.52
Algonquin Citygate NG-CG-BS-SNL
13.04
5.79
SoCal Citygate NG-SCL-CGT-SNL
4.65
4.54
Waha Hub NG-WAH-WTX-SNL
2.03
1.77
AECO NG-ASH-ALB-SNL
1.56
1.60
SNL U.S. Power Next-Day Prices ($ per megawatt-hour)
Hub
Current Day
Prior Day
New England EL-PK-NPMS-SNL
117.25
66.50
PJM West EL-PK-PJMW-SNL
47.75
45.50
Ercot North EL-PK-ERTN-SNL
24.75
31.25
Mid C EL-PK-MIDC-SNL
69.60
68.00
Palo Verde EL-PK-PLVD-SNL
45.25
32.25
SP-15 EL-PK-SP15-SNL
42.00
45.00
(Reporting by Scott DiSavino; editing by David Evans and David Gregorio)
((scott.disavino@thomsonreuters.com; +1 332 219 1922; Reuters Messaging: scott.disavino.thomsonreuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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EIA/GASNGAS/POLL Front-month gas futures NGc1 for January delivery on the New York Mercantile Exchange fell 12.9 cents, or 4.8%, to $2.581 per million British thermal units (mmBtu) at 12:04 p.m. EST (1704 GMT), on track for its lowest close since Sept. 7. O/R The futures market has been sending signals for weeks that many traders do not expect price spikes this winter (November-March) due to record production and ample amounts of gas in storage. The industry calls the March-April spread the "widow maker" because rapid price moves on changing weather forecasts have forced some speculators out of business, including the Amaranth hedge fund, which lost more than $6 billion in 2006.
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By Scott DiSavino Dec 6 (Reuters) - U.S. natural gas futures fell by about 5% on Wednesday to the lowest in nearly three months, pressured by a drop in oil prices, near-record U.S. gas output and forecasts for mostly mild weather through late December that should dent heating demand. Week ended Dec 1 Forecast Week ended Nov 24 Actual Year ago Dec 1 Five-year average Dec 1 U.S. weekly natgas storage change (bcf): -101 +10 -30 -48 U.S. total natgas in storage (bcf): 3,735 3,836 3,465 3,485 U.S. total storage versus 5-year average 7.2% 8.6% Global Gas Benchmark Futures ($ per mmBtu) Current Day Prior Day This Month Last Year Prior Year Average 2022 Five Year Average (2017-2021) Henry Hub NGc1 2.73 2.71 5.77 6.54 2.89 Title Transfer Facility (TTF) TRNLTTFMc1 12.50 12.07 36.68 40.50 7.49 Japan Korea Marker (JKM) JKMc1 16.06 16.05 32.34 34.11 8.95 LSEG Heating (HDD), Cooling (CDD) and Total (TDD) Degree Days Two-Week Total Forecast Current Day Prior Day Prior Year 10-Year Norm 30-Year Norm U.S. GFS HDDs 348 339 362 367 391 U.S. GFS CDDs 2 3 11 6 5 U.S. GFS TDDs 350 342 373 373 396 LSEG U.S. Weekly GFS Supply and Demand Forecasts Prior Week Current Week Next Week This Week Last Year Five-Year (2018-2022) Average For Month U.S. Supply (bcfd) U.S. Lower 48 Dry Production 109.0 107.5 107.8 102.7 94.2 U.S. Imports from Canada8 8.6 8.7 9.0 9.1 9.1 U.S. LNG Imports 0.0 0.0 0.0 0.0 0.2 Total U.S. Supply 117.5 116.2 116.8 111.8 103.5 U.S. Demand (bcfd) U.S. Exports to Canada 2.5 3.2 3.2 3.3 3.2 U.S. Exports to Mexico 4.8 4.1 5.3 5.6 5.0 U.S. LNG Exports 14.1 14.4 14.3 11.7 8.6 U.S. Commercial 15.5 13.2 14.2 13.5 14.6 U.S. Consumption 108.6 100.2 103.3 98.7 101.2 Total U.S. Demand 130.0 121.9 126.2 119.3 118.0 U.S. Northwest River Forecast Center (NWRFC) at The Dalles Dam Current Day % of Normal Forecast Prior Day % of Normal Forecast 2023 % of Normal Actual 2022 % of Normal Actual 2021 % of Normal Actual Apr-Sep 86 88 83 107 81 Jan-Jul 84 86 77 102 79 Oct-Sep 85 86 76 103 81 U.S. weekly power generation percent by fuel - EIA Week ended Dec 8 Week ended Dec 1 Week ended Nov 24 Week ended Nov 17 Week ended Nov 10 Wind 11 10 11 9 11 Solar 2 3 3 3 4 Hydro 5 6 6 6 5 Other 2 2 2 2 2 Petroleum Natural Gas 41 42 39 42 41 Coal 17 17 16 17 16 Nuclear 22 20 22 21 20 SNL U.S. Natural Gas Next-Day Prices ($ per mmBtu) Hub Current Day Prior Day Henry Hub NG-W-HH-SNL 2.72 2.55 Transco Z6 New York NG-CG-NY-SNL 3.66 2.26 PG&E Citygate NG-CG-PGE-SNL 4.95 4.68 Eastern Gas (old Dominion South) NG-PCN-APP-SNL 2.31 2.13 Chicago Citygate NG-CG-CH-SNL 2.50 2.52 Algonquin Citygate NG-CG-BS-SNL 13.04 5.79 SoCal Citygate NG-SCL-CGT-SNL 4.65 4.54 Waha Hub NG-WAH-WTX-SNL 2.03 1.77
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By Scott DiSavino Dec 6 (Reuters) - U.S. natural gas futures fell by about 5% on Wednesday to the lowest in nearly three months, pressured by a drop in oil prices, near-record U.S. gas output and forecasts for mostly mild weather through late December that should dent heating demand. Week ended Dec 1 Forecast Week ended Nov 24 Actual Year ago Dec 1 Five-year average Dec 1 U.S. weekly natgas storage change (bcf): -101 +10 -30 -48 U.S. total natgas in storage (bcf): 3,735 3,836 3,465 3,485 U.S. total storage versus 5-year average 7.2% 8.6% Global Gas Benchmark Futures ($ per mmBtu) Current Day Prior Day This Month Last Year Prior Year Average 2022 Five Year Average (2017-2021) Henry Hub NGc1 2.73 2.71 5.77 6.54 2.89 Title Transfer Facility (TTF) TRNLTTFMc1 12.50 12.07 36.68 40.50 7.49 Japan Korea Marker (JKM) JKMc1 16.06 16.05 32.34 34.11 8.95 LSEG Heating (HDD), Cooling (CDD) and Total (TDD) Degree Days Two-Week Total Forecast Current Day Prior Day Prior Year 10-Year Norm 30-Year Norm U.S. GFS HDDs 348 339 362 367 391 U.S. GFS CDDs 2 3 11 6 5 U.S. GFS TDDs 350 342 373 373 396 LSEG U.S. Weekly GFS Supply and Demand Forecasts Prior Week Current Week Next Week This Week Last Year Five-Year (2018-2022) Average For Month U.S. Supply (bcfd) U.S. Lower 48 Dry Production 109.0 107.5 107.8 102.7 94.2 U.S. Imports from Canada8 8.6 8.7 9.0 9.1 9.1 U.S. LNG Imports 0.0 0.0 0.0 0.0 0.2 Total U.S. Supply 117.5 116.2 116.8 111.8 103.5 U.S. Demand (bcfd) U.S. Exports to Canada 2.5 3.2 3.2 3.3 3.2 U.S. Exports to Mexico 4.8 4.1 5.3 5.6 5.0 U.S. LNG Exports 14.1 14.4 14.3 11.7 8.6 U.S. Commercial 15.5 13.2 14.2 13.5 14.6 U.S. Consumption 108.6 100.2 103.3 98.7 101.2 Total U.S. Demand 130.0 121.9 126.2 119.3 118.0 U.S. Northwest River Forecast Center (NWRFC) at The Dalles Dam Current Day % of Normal Forecast Prior Day % of Normal Forecast 2023 % of Normal Actual 2022 % of Normal Actual 2021 % of Normal Actual Apr-Sep 86 88 83 107 81 Jan-Jul 84 86 77 102 79 Oct-Sep 85 86 76 103 81 U.S. weekly power generation percent by fuel - EIA Week ended Dec 8 Week ended Dec 1 Week ended Nov 24 Week ended Nov 17 Week ended Nov 10 Wind 11 10 11 9 11 Solar 2 3 3 3 4 Hydro 5 6 6 6 5 Other 2 2 2 2 2 Petroleum Natural Gas 41 42 39 42 41 Coal 17 17 16 17 16 Nuclear 22 20 22 21 20 SNL U.S. Natural Gas Next-Day Prices ($ per mmBtu) Hub Current Day Prior Day Henry Hub NG-W-HH-SNL 2.72 2.55 Transco Z6 New York NG-CG-NY-SNL 3.66 2.26 PG&E Citygate NG-CG-PGE-SNL 4.95 4.68 Eastern Gas (old Dominion South) NG-PCN-APP-SNL 2.31 2.13 Chicago Citygate NG-CG-CH-SNL 2.50 2.52 Algonquin Citygate NG-CG-BS-SNL 13.04 5.79 SoCal Citygate NG-SCL-CGT-SNL 4.65 4.54 Waha Hub NG-WAH-WTX-SNL 2.03 1.77
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By Scott DiSavino Dec 6 (Reuters) - U.S. natural gas futures fell by about 5% on Wednesday to the lowest in nearly three months, pressured by a drop in oil prices, near-record U.S. gas output and forecasts for mostly mild weather through late December that should dent heating demand. With colder weather coming, LSEG forecast U.S. gas demand in the Lower 48, including exports, would rise from 121.8 bcfd this week to 126.2 bcfd next week. Week ended Dec 1 Forecast Week ended Nov 24 Actual Year ago Dec 1 Five-year average Dec 1 U.S. weekly natgas storage change (bcf): -101 +10 -30 -48 U.S. total natgas in storage (bcf): 3,735 3,836 3,465 3,485 U.S. total storage versus 5-year average 7.2% 8.6% Global Gas Benchmark Futures ($ per mmBtu) Current Day Prior Day This Month Last Year Prior Year Average 2022 Five Year Average (2017-2021) Henry Hub NGc1 2.73 2.71 5.77 6.54 2.89 Title Transfer Facility (TTF) TRNLTTFMc1 12.50 12.07 36.68 40.50 7.49 Japan Korea Marker (JKM) JKMc1 16.06 16.05 32.34 34.11 8.95 LSEG Heating (HDD), Cooling (CDD) and Total (TDD) Degree Days Two-Week Total Forecast Current Day Prior Day Prior Year 10-Year Norm 30-Year Norm U.S. GFS HDDs 348 339 362 367 391 U.S. GFS CDDs 2 3 11 6 5 U.S. GFS TDDs 350 342 373 373 396 LSEG U.S. Weekly GFS Supply and Demand Forecasts Prior Week Current Week Next Week This Week Last Year Five-Year (2018-2022) Average For Month U.S. Supply (bcfd) U.S. Lower 48 Dry Production 109.0 107.5 107.8 102.7 94.2 U.S. Imports from Canada8 8.6 8.7 9.0 9.1 9.1 U.S. LNG Imports 0.0 0.0 0.0 0.0 0.2 Total U.S. Supply 117.5 116.2 116.8 111.8 103.5 U.S. Demand (bcfd) U.S. Exports to Canada 2.5 3.2 3.2 3.3 3.2 U.S. Exports to Mexico 4.8 4.1 5.3 5.6 5.0 U.S. LNG Exports 14.1 14.4 14.3 11.7 8.6 U.S. Commercial 15.5 13.2 14.2 13.5 14.6 U.S.
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e6d82908-af85-4235-a140-0245b22275d6
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714525.0
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2023-12-06 00:00:00 UTC
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Emerson Electric (EMR) Could Be a Great Choice
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DCOMP
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https://www.nasdaq.com/articles/emerson-electric-emr-could-be-a-great-choice-0
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nan
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nan
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Getting big returns from financial portfolios, whether through stocks, bonds, ETFs, other securities, or a combination of all, is an investor's dream. However, when you're an income investor, your primary focus is generating consistent cash flow from each of your liquid investments.
Cash flow can come from bond interest, interest from other types of investments, and of course, dividends. A dividend is the distribution of a company's earnings paid out to shareholders; it's often viewed by its dividend yield, a metric that measures a dividend as a percent of the current stock price. Many academic studies show that dividends make up large portions of long-term returns, and in many cases, dividend contributions surpass one-third of total returns.
Emerson Electric in Focus
Emerson Electric (EMR) is headquartered in St. Louis, and is in the Industrial Products sector. The stock has seen a price change of -8.03% since the start of the year. Currently paying a dividend of $0.52 per share, the company has a dividend yield of 2.38%. In comparison, the Manufacturing - Electronics industry's yield is 0.99%, while the S&P 500's yield is 1.68%.
Looking at dividend growth, the company's current annualized dividend of $2.10 is up 1% from last year. In the past five-year period, Emerson Electric has increased its dividend 5 times on a year-over-year basis for an average annual increase of 1.44%. Future dividend growth will depend on earnings growth as well as payout ratio, which is the proportion of a company's annual earnings per share that it pays out as a dividend. Emerson Electric's current payout ratio is 47%, meaning it paid out 47% of its trailing 12-month EPS as dividend.
Looking at this fiscal year, EMR expects solid earnings growth. The Zacks Consensus Estimate for 2023 is $5.21 per share, with earnings expected to increase 17.34% from the year ago period.
Bottom Line
From greatly improving stock investing profits and reducing overall portfolio risk to providing tax advantages, investors like dividends for a variety of different reasons. But, not every company offers a quarterly payout.
For instance, it's a rare occurrence when a tech start-up or big growth business offers their shareholders a dividend. It's more common to see larger companies with more established profits give out dividends. Income investors must be conscious of the fact that high-yielding stocks tend to struggle during periods of rising interest rates. That said, they can take comfort from the fact that EMR is not only an attractive dividend play, but is also a compelling investment opportunity with a Zacks Rank of #1 (Strong Buy).
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
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
Emerson Electric Co. (EMR) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Bottom Line From greatly improving stock investing profits and reducing overall portfolio risk to providing tax advantages, investors like dividends for a variety of different reasons. Income investors must be conscious of the fact that high-yielding stocks tend to struggle during periods of rising interest rates. That said, they can take comfort from the fact that EMR is not only an attractive dividend play, but is also a compelling investment opportunity with a Zacks Rank of #1 (Strong Buy).
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Emerson Electric in Focus Emerson Electric (EMR) is headquartered in St. Louis, and is in the Industrial Products sector. Looking at dividend growth, the company's current annualized dividend of $2.10 is up 1% from last year. Click to get this free report Emerson Electric Co. (EMR) : Free Stock Analysis Report To read this article on Zacks.com click here.
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A dividend is the distribution of a company's earnings paid out to shareholders; it's often viewed by its dividend yield, a metric that measures a dividend as a percent of the current stock price. Looking at dividend growth, the company's current annualized dividend of $2.10 is up 1% from last year. Future dividend growth will depend on earnings growth as well as payout ratio, which is the proportion of a company's annual earnings per share that it pays out as a dividend.
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A dividend is the distribution of a company's earnings paid out to shareholders; it's often viewed by its dividend yield, a metric that measures a dividend as a percent of the current stock price. Looking at dividend growth, the company's current annualized dividend of $2.10 is up 1% from last year. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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89e4368a-8e83-4442-a350-318f0958b740
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714526.0
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2023-12-06 00:00:00 UTC
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Brown-Forman (BF.B) Q2 Earnings In Line, Stock Dips on View Cut
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DCOMP
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https://www.nasdaq.com/articles/brown-forman-bf.b-q2-earnings-in-line-stock-dips-on-view-cut
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nan
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nan
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Brown-Forman Corporation (BF.B) has reported mixed second-quarter fiscal 2024 results, wherein sales missed the Zacks Consensus Estimate, while earnings meet the same. Meanwhile, sales and earnings improved year over year.
In the fiscal second quarter, earnings per share (EPS) of 50 cents rose 6% year over year and were in line with the Zacks Consensus Estimate.
Net sales of $1,107 million missed the Zacks Consensus Estimate of $1,156 million. The top line increased 1% year over year on a reported basis. On an organic basis, net sales were down 1% from the prior-year level.
Shares of Brown-Forman declined 6.9% in the pre-market trading session on Dec 6, owing to the soft top-line performance and a lowered view for fiscal 2024. The Zacks Rank #4 (Sell) company’s shares have lost 6.1% in the past three months compared with the industry’s decline of 3.3%.
Image Source: Zacks Investment Research
Q2 in Detail
In second-quarter fiscal 2024, Brown-Forman’s gross profit of $671 million increased 9% year over year on both reported and organic basis. The gross margin expanded 460 basis points (bps) to 60.6%. The gross margin was aided by an improved price/mix, lapping higher costs related to the supply-chain disruptions in the year-ago quarter and lower tariff-related expenses. This was partly negated by higher input costs and adverse currency rates.
SG&A expenses of $192 million rose 7% year over year and 6% on an organic basis. The increase stemmed from higher compensation and benefit-related expenses. Advertising expenses increased 16% year over year to $140 million for the fiscal second quarter. On an organic basis, advertising expenses increased 10%. Elevated advertising costs mainly resulted from the launch of Jack Daniel’s and Coca-Cola RTDs, increased investments in Jack Daniel’s Tennessee Whiskey, and the acquisition of Gin Mare and Diplomatico.
We expected total operating expenses to increase 11.3% year over year to $333.8 million in the fiscal second quarter, driven by a 2.9% rise in advertising expenses, and an 11.6% increase in selling, general and administrative expenses.
Brown-Forman Corporation Price, Consensus and EPS Surprise
Brown-Forman Corporation price-consensus-eps-surprise-chart | Brown-Forman Corporation Quote
The operating income improved 8% year over year to $339 million on a reported basis due to an improved gross margin, offset by operating expense growth. The organic operating income rose 9%. The operating margin of 30.6% expanded 190 bps from the 28.7% reported in the year-ago quarter.
Our model predicted an operating margin of 29.3%, suggesting a 70-bps expansion from the year-ago quarter’s actual.
Market-Wise Performance
In the first half of fiscal 2024, net sales rose 2% on a reported basis and 1% on an organic basis. The improvement was mainly driven by growth in emerging and developed international markets, as well as the Travel Retail channel. However, sales growth was partly negated by a decline in the United States.
The emerging markets registered 17% net sales growth, whereas organic sales improved 19%. This was backed by strong growth of New Mix in Mexico, Jack Daniel’s Tennessee Whiskey in the United Arab Emirates and Poland, and Jack Daniel’s Tennessee Apple in Brazil and Chile.
The developed international market reported sales growth of 3%, with a 2% decline in organic sales. The improvement can be attributed to Gin Mare and Diplomático in Italy, and the launch of Jack Daniel’s Tennessee Apple in South Korea. This was partly offset by lower volumes of Jack Daniel’s Tennessee Whiskey in Japan, following a significant inventory build in the second half of fiscal 2023.
Net sales in the Travel Retail channel advanced 3% on a reported basis and were flat on an organic basis. The increase was the result of gains in the super-premium American whiskey portfolio, led by growth in Woodford Reserve; the launch of Jack Daniel’s American Single Malta and Jack Daniel’s Single Barrel; and the acquisitions of Gin Mare and Diplomático. This was partly negated by soft volume in Jack Daniel’s Tennessee Whiskey and Jack Daniel’s Tennessee Honey.
The company’s overall sales in the United States declined 4% on a reported and 5% on an organic basis. The decline resulted from lower volumes due to the lapping of last year’s significant inventory build, offset by improved prices across the portfolio, led by Jack Daniel’s Tennessee Whiskey and the acquisition of Diplomático.
Category-Wise Performance
In the first half of fiscal 2024, net sales for whiskey products declined 2% year over year and 1% on an organic basis. The dip was led by declines in Old Forester and Woodford Reserve, and a slight decrease in the Jack Daniel’s Family of Brands.
The company continued to witness growth in the ready-to-drink (RTD) category, owing to consumer preference for convenience and flavor. Sales for New Mix improved 41% on a reported basis and 22% on an organic basis, driven by higher volumes and prices. Jack Daniel’s RTDs/Ready-to-Pours reported 2% sales growth on a reported and 1% growth on an organic basis, driven by the launch of the Jack Daniel’s & Coca-Cola RTD, partly offset by lower volumes of Jack Daniel’s & Cola due to the transition.
Brown-Forman’s tequila portfolio reported year-over-year sales growth of 2%, with a 1% decline on an organic basis. This was driven by sales growth for the el Jimador brand, offset by a decline in the Herradura brand. The el Jimador reported year-over-year sales growth of 8% on a reported basis and 7% on an organic basis, driven by higher pricing, mainly in the United States, as well as higher volumes in Colombia. Sales declined 5% on a reported and 9% on an organic basis for the Herradura brand, driven by lower volumes in the United States, offset by growth in Mexico.
The company’s newly acquired Gin Mare and Diplomático led significant growth in the rest of the portfolio, with reported sales growth of 104% and organic sales growth of 17%.
Our model predicted the tequila category to register sales growth of 2.2% in the fiscal second quarter. Meanwhile, other key categories, including wine, vodka, ready-to-drink and whiskey, were expected to report sales growth of 4.7%, 15.6%, 16.3% and 4.7%, respectively.
Balance Sheet & Cash Flow
The company ended second-quarter fiscal 2024 with cash and cash equivalents of $373 million, and a long-term debt of $2,654 million. Its total shareholders’ equity was $3,454 million. As of Oct 31, 2023, BF.B used about $61 million in cash for operating activities.
In second-quarter fiscal 2024, the company returned nearly $99 million to stockholders via dividends. It recently announced a quarterly dividend of 21.78 cents per share on its Class A and Class B shares, reflecting an increase of 6% from the prior dividend. The dividend is payable on Jan 2, 2024, to shareholders of record as of Dec 1. It has paid out regular quarterly dividends for 80 consecutive years and raised the dividend for 40 consecutive years.
Outlook
Management has lowered its view for fiscal 2024. It anticipates organic sales growth of 3-5% for fiscal 2024, driven by its strong portfolio of brands and pricing strategy. The company earlier predicted sales growth of 5-7% for fiscal 2024. It also remains optimistic about organic operating income growth.
Brown-Forman expects the organic operating income to increase 4-6%, compared with 6-8% growth mentioned earlier. Operating income is expected to benefit from organic net sales growth and lower supply-chain-disruption costs, offset by continued input cost inflation pressures. The effective tax rate is expected to be 21-23% for fiscal 2024. Capital expenditure is anticipated to be $250-$270 million.
Stocks to Consider
We have highlighted three better-ranked stocks from the Consumer Staples sector, namely Molson Coors TAP, The Duckhorn Portfolio NAPA and Fomento Economico Mexicano FMX.
Molson Coors, a global manufacturer and seller of beer and other beverage products, currently sports a Zacks Rank #1 (Strong Buy). Shares of FMX have declined 1.6% in the past three months. You can see the complete list of today's Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Molson Coors’ current financial year’s sales and earnings per share suggests growth of 9.1% and 28.8%, respectively, from the year-ago period’s reported figures. TAP has a trailing four-quarter earnings surprise of 41.3%, on average.
Duckhorn Portfolio, a premier producer of wines principally in North America, has a trailing four-quarter earnings surprise of 20.8%, on average. It currently carries a Zacks Rank #2 (Buy).
The Zacks Consensus Estimate for Duckhorn Portfolio’s current financial-year sales and earnings suggests growth of 7.7% and 3%, respectively, from the year-ago period's reported figure. Shares of NAPA have declined 12.1% in the past three months.
Fomento Economico Mexicano, alias FEMSA, participates in the beverage industry through Coca-Cola FEMSA, which is the world’s largest franchise bottler for Coca-Cola products. It currently carries a Zacks Rank #2. FMX shares have rallied 17.5% in the past three months.
The Zacks Consensus Estimate for FMX’s current financial-year sales and earnings suggests growth of 32.3% and 60.3%, respectively, from the year-ago period's reported figures. FMX has a trailing four-quarter earnings surprise of 23.2%, on average.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
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
Brown-Forman Corporation (BF.B) : Free Stock Analysis Report
Fomento Economico Mexicano S.A.B. de C.V. (FMX) : Free Stock Analysis Report
Molson Coors Beverage Company (TAP) : Free Stock Analysis Report
The Duckhorn Portfolio, Inc. (NAPA) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The decline resulted from lower volumes due to the lapping of last year’s significant inventory build, offset by improved prices across the portfolio, led by Jack Daniel’s Tennessee Whiskey and the acquisition of Diplomático. The Zacks Consensus Estimate for Molson Coors’ current financial year’s sales and earnings per share suggests growth of 9.1% and 28.8%, respectively, from the year-ago period’s reported figures. The Zacks Consensus Estimate for Duckhorn Portfolio’s current financial-year sales and earnings suggests growth of 7.7% and 3%, respectively, from the year-ago period's reported figure.
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Brown-Forman Corporation Price, Consensus and EPS Surprise Brown-Forman Corporation price-consensus-eps-surprise-chart | Brown-Forman Corporation Quote The operating income improved 8% year over year to $339 million on a reported basis due to an improved gross margin, offset by operating expense growth. Jack Daniel’s RTDs/Ready-to-Pours reported 2% sales growth on a reported and 1% growth on an organic basis, driven by the launch of the Jack Daniel’s & Coca-Cola RTD, partly offset by lower volumes of Jack Daniel’s & Cola due to the transition. de C.V. (FMX) : Free Stock Analysis Report Molson Coors Beverage Company (TAP) : Free Stock Analysis Report The Duckhorn Portfolio, Inc. (NAPA) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Brown-Forman Corporation Price, Consensus and EPS Surprise Brown-Forman Corporation price-consensus-eps-surprise-chart | Brown-Forman Corporation Quote The operating income improved 8% year over year to $339 million on a reported basis due to an improved gross margin, offset by operating expense growth. Jack Daniel’s RTDs/Ready-to-Pours reported 2% sales growth on a reported and 1% growth on an organic basis, driven by the launch of the Jack Daniel’s & Coca-Cola RTD, partly offset by lower volumes of Jack Daniel’s & Cola due to the transition. The company’s newly acquired Gin Mare and Diplomático led significant growth in the rest of the portfolio, with reported sales growth of 104% and organic sales growth of 17%.
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Net sales of $1,107 million missed the Zacks Consensus Estimate of $1,156 million. Brown-Forman Corporation Price, Consensus and EPS Surprise Brown-Forman Corporation price-consensus-eps-surprise-chart | Brown-Forman Corporation Quote The operating income improved 8% year over year to $339 million on a reported basis due to an improved gross margin, offset by operating expense growth. Stocks to Consider We have highlighted three better-ranked stocks from the Consumer Staples sector, namely Molson Coors TAP, The Duckhorn Portfolio NAPA and Fomento Economico Mexicano FMX.
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15d69bee-550b-4269-8208-0eae3b91ecc9
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714527.0
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2023-12-06 00:00:00 UTC
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Why Rivian Shares Rallied Today
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DCOMP
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https://www.nasdaq.com/articles/why-rivian-shares-rallied-today
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nan
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nan
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Rivian Automotive (NASDAQ: RIVN) shares popped this morning after the electric vehicle (EV) maker's chief financial officer (CFO) presented some exciting news for shareholders at a recent conference.
Rivian stock jumped as much as 11.5% before paring some of that gain. As of 11:15 a.m. ET, the EV start-up's shares were still higher by 9.7%.
New, cheaper battery platform
Rivian CFO Claire McDonough made comments in an interview at the recent Global Automotive and Mobility Tech Conference hosted by Barclays. Investors are reacting positively as they get wind of what McDonough had to say. Specifically, she said the company expects to become gross-margin-positive in 2024 and described how Rivian plans to lower production costs.
McDonough said Rivian will introduce a new simplified battery pack structure that she stated "takes thousands of dollars of costs out [and] is much easier to manufacturer and build as well." That could open up Rivian's products to more consumers given that its consumer offerings -- the R1T pickup and R1S SUV -- both start at selling prices of between $70,000 and $80,000.
Steps toward profitability
Rivian shares had already been moving higher since it reported its third-quarter results one month ago. Buyers jumped into the stock after Rivian boosted its 2023 production estimates at that time. It now expects to make about 54,000 units this year.
The company will also break ground on a second manufacturing facility to be located in Georgia early next year. That plant is expected to launch lower-cost vehicles with Rivian's next generation R2 platform.
Now the CFO is saying the company's existing R1 platform could already be lowering costs -- and presumably selling prices -- to potentially bring in a new wave of consumer interest in its products. That's good news and gives investors confidence that demand could be strong with higher volume from the new factory bringing it closer to profitability.
10 stocks we like better than Rivian Automotive
When our analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*
They just revealed what they believe are the ten best stocks for investors to buy right now... and Rivian Automotive wasn't one of them! That's right -- they think these 10 stocks are even better buys.
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*Stock Advisor returns as of December 4, 2023
Howard Smith has positions in Rivian Automotive. The Motley Fool recommends Barclays Plc. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Rivian Automotive (NASDAQ: RIVN) shares popped this morning after the electric vehicle (EV) maker's chief financial officer (CFO) presented some exciting news for shareholders at a recent conference. New, cheaper battery platform Rivian CFO Claire McDonough made comments in an interview at the recent Global Automotive and Mobility Tech Conference hosted by Barclays. McDonough said Rivian will introduce a new simplified battery pack structure that she stated "takes thousands of dollars of costs out [and] is much easier to manufacturer and build as well."
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New, cheaper battery platform Rivian CFO Claire McDonough made comments in an interview at the recent Global Automotive and Mobility Tech Conference hosted by Barclays. Now the CFO is saying the company's existing R1 platform could already be lowering costs -- and presumably selling prices -- to potentially bring in a new wave of consumer interest in its products. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.
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Rivian Automotive (NASDAQ: RIVN) shares popped this morning after the electric vehicle (EV) maker's chief financial officer (CFO) presented some exciting news for shareholders at a recent conference. 10 stocks we like better than Rivian Automotive When our analyst team has a stock tip, it can pay to listen. See the 10 stocks *Stock Advisor returns as of December 4, 2023 Howard Smith has positions in Rivian Automotive.
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Rivian stock jumped as much as 11.5% before paring some of that gain. It now expects to make about 54,000 units this year. See the 10 stocks *Stock Advisor returns as of December 4, 2023 Howard Smith has positions in Rivian Automotive.
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ac287dbc-2220-4c8e-a66b-be9da977275a
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714528.0
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2023-12-06 00:00:00 UTC
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AIZ vs. ZURVY: Which Stock Should Value Investors Buy Now?
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DCOMP
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https://www.nasdaq.com/articles/aiz-vs.-zurvy%3A-which-stock-should-value-investors-buy-now
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nan
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nan
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Investors looking for stocks in the Insurance - Multi line sector might want to consider either Assurant (AIZ) or Zurich Insurance Group Ltd. (ZURVY). But which of these two stocks offers value investors a better bang for their buck right now? We'll need to take a closer look.
The best way to find great value stocks is to pair a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system. The Zacks Rank is a proven strategy that targets companies with positive earnings estimate revision trends, while our Style Scores work to grade companies based on specific traits.
Currently, Assurant has a Zacks Rank of #1 (Strong Buy), while Zurich Insurance Group Ltd. has a Zacks Rank of #3 (Hold). The Zacks Rank favors stocks that have recently seen positive revisions to their earnings estimates, so investors should rest assured that AIZ has an improving earnings outlook. But this is only part of the picture for value investors.
Value investors analyze a variety of traditional, tried-and-true metrics to help find companies that they believe are undervalued at their current share price levels.
Our Value category grades stocks based on a number of key metrics, including the tried-and-true P/E ratio, the P/S ratio, earnings yield, and cash flow per share, as well as a variety of other fundamentals that value investors frequently use.
AIZ currently has a forward P/E ratio of 11.77, while ZURVY has a forward P/E of 13.93. We also note that AIZ has a PEG ratio of 0.81. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. ZURVY currently has a PEG ratio of 4.04.
Another notable valuation metric for AIZ is its P/B ratio of 2.01. The P/B ratio is used to compare a stock's market value with its book value, which is defined as total assets minus total liabilities. For comparison, ZURVY has a P/B of 3.02.
These metrics, and several others, help AIZ earn a Value grade of B, while ZURVY has been given a Value grade of C.
AIZ sticks out from ZURVY in both our Zacks Rank and Style Scores models, so value investors will likely feel that AIZ is the better option right now.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
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
Assurant, Inc. (AIZ) : Free Stock Analysis Report
Zurich Insurance Group Ltd. (ZURVY) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The best way to find great value stocks is to pair a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system. Value investors analyze a variety of traditional, tried-and-true metrics to help find companies that they believe are undervalued at their current share price levels. As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys."
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The Zacks Rank is a proven strategy that targets companies with positive earnings estimate revision trends, while our Style Scores work to grade companies based on specific traits. Currently, Assurant has a Zacks Rank of #1 (Strong Buy), while Zurich Insurance Group Ltd. has a Zacks Rank of #3 (Hold). Click to get this free report Assurant, Inc. (AIZ) : Free Stock Analysis Report Zurich Insurance Group Ltd. (ZURVY) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Our Value category grades stocks based on a number of key metrics, including the tried-and-true P/E ratio, the P/S ratio, earnings yield, and cash flow per share, as well as a variety of other fundamentals that value investors frequently use. These metrics, and several others, help AIZ earn a Value grade of B, while ZURVY has been given a Value grade of C. AIZ sticks out from ZURVY in both our Zacks Rank and Style Scores models, so value investors will likely feel that AIZ is the better option right now. Click to get this free report Assurant, Inc. (AIZ) : Free Stock Analysis Report Zurich Insurance Group Ltd. (ZURVY) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Our Value category grades stocks based on a number of key metrics, including the tried-and-true P/E ratio, the P/S ratio, earnings yield, and cash flow per share, as well as a variety of other fundamentals that value investors frequently use. These metrics, and several others, help AIZ earn a Value grade of B, while ZURVY has been given a Value grade of C. AIZ sticks out from ZURVY in both our Zacks Rank and Style Scores models, so value investors will likely feel that AIZ is the better option right now. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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95e6aa93-a0cc-4f6a-a8cc-db6321acac12
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714529.0
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2023-12-06 00:00:00 UTC
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DKS vs. TSCO: Which Stock Is the Better Value Option?
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DCOMP
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https://www.nasdaq.com/articles/dks-vs.-tsco%3A-which-stock-is-the-better-value-option-0
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nan
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nan
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Investors interested in stocks from the Retail - Miscellaneous sector have probably already heard of Dick's Sporting Goods (DKS) and Tractor Supply (TSCO). But which of these two stocks presents investors with the better value opportunity right now? Let's take a closer look.
There are plenty of strategies for discovering value stocks, but we have found that pairing a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system produces the best returns. The proven Zacks Rank emphasizes companies with positive estimate revision trends, and our Style Scores highlight stocks with specific traits.
Right now, Dick's Sporting Goods is sporting a Zacks Rank of #2 (Buy), while Tractor Supply has a Zacks Rank of #4 (Sell). Investors should feel comfortable knowing that DKS likely has seen a stronger improvement to its earnings outlook than TSCO has recently. But this is just one factor that value investors are interested in.
Value investors also try to analyze a wide range of traditional figures and metrics to help determine whether a company is undervalued at its current share price levels.
Our Value category grades stocks based on a number of key metrics, including the tried-and-true P/E ratio, the P/S ratio, earnings yield, and cash flow per share, as well as a variety of other fundamentals that value investors frequently use.
DKS currently has a forward P/E ratio of 11.21, while TSCO has a forward P/E of 20.64. We also note that DKS has a PEG ratio of 2.16. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. TSCO currently has a PEG ratio of 3.
Another notable valuation metric for DKS is its P/B ratio of 4.70. The P/B is a method of comparing a stock's market value to its book value, which is defined as total assets minus total liabilities. By comparison, TSCO has a P/B of 10.61.
These metrics, and several others, help DKS earn a Value grade of A, while TSCO has been given a Value grade of C.
DKS stands above TSCO thanks to its solid earnings outlook, and based on these valuation figures, we also feel that DKS is the superior value option right now.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
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
DICK'S Sporting Goods, Inc. (DKS) : Free Stock Analysis Report
Tractor Supply Company (TSCO) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Investors interested in stocks from the Retail - Miscellaneous sector have probably already heard of Dick's Sporting Goods (DKS) and Tractor Supply (TSCO). There are plenty of strategies for discovering value stocks, but we have found that pairing a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system produces the best returns. The proven Zacks Rank emphasizes companies with positive estimate revision trends, and our Style Scores highlight stocks with specific traits.
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Investors interested in stocks from the Retail - Miscellaneous sector have probably already heard of Dick's Sporting Goods (DKS) and Tractor Supply (TSCO). Right now, Dick's Sporting Goods is sporting a Zacks Rank of #2 (Buy), while Tractor Supply has a Zacks Rank of #4 (Sell). Click to get this free report DICK'S Sporting Goods, Inc. (DKS) : Free Stock Analysis Report Tractor Supply Company (TSCO) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Our Value category grades stocks based on a number of key metrics, including the tried-and-true P/E ratio, the P/S ratio, earnings yield, and cash flow per share, as well as a variety of other fundamentals that value investors frequently use. These metrics, and several others, help DKS earn a Value grade of A, while TSCO has been given a Value grade of C. DKS stands above TSCO thanks to its solid earnings outlook, and based on these valuation figures, we also feel that DKS is the superior value option right now. Click to get this free report DICK'S Sporting Goods, Inc. (DKS) : Free Stock Analysis Report Tractor Supply Company (TSCO) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Right now, Dick's Sporting Goods is sporting a Zacks Rank of #2 (Buy), while Tractor Supply has a Zacks Rank of #4 (Sell). These metrics, and several others, help DKS earn a Value grade of A, while TSCO has been given a Value grade of C. DKS stands above TSCO thanks to its solid earnings outlook, and based on these valuation figures, we also feel that DKS is the superior value option right now. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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3059c4b0-e8e4-4b5d-b1c0-95c9365aff4e
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714530.0
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2023-12-06 00:00:00 UTC
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DOLE vs. CTVA: Which Stock Is the Better Value Option?
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DCOMP
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https://www.nasdaq.com/articles/dole-vs.-ctva%3A-which-stock-is-the-better-value-option-1
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nan
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nan
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Investors interested in Agriculture - Operations stocks are likely familiar with Dole (DOLE) and Corteva, Inc. (CTVA). But which of these two companies is the best option for those looking for undervalued stocks? Let's take a closer look.
Everyone has their own methods for finding great value opportunities, but our model includes pairing an impressive grade in the Value category of our Style Scores system with a strong Zacks Rank. The Zacks Rank favors stocks with strong earnings estimate revision trends, and our Style Scores highlight companies with specific traits.
Currently, Dole has a Zacks Rank of #1 (Strong Buy), while Corteva, Inc. has a Zacks Rank of #4 (Sell). This means that DOLE's earnings estimate revision activity has been more impressive, so investors should feel comfortable with its improving analyst outlook. But this is just one piece of the puzzle for value investors.
Value investors also try to analyze a wide range of traditional figures and metrics to help determine whether a company is undervalued at its current share price levels.
The Style Score Value grade factors in a variety of key fundamental metrics, including the popular P/E ratio, P/S ratio, earnings yield, cash flow per share, and a number of other key stats that are commonly used by value investors.
DOLE currently has a forward P/E ratio of 11, while CTVA has a forward P/E of 16.93. We also note that DOLE has a PEG ratio of 0.88. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. CTVA currently has a PEG ratio of 1.31.
Another notable valuation metric for DOLE is its P/B ratio of 0.83. The P/B is a method of comparing a stock's market value to its book value, which is defined as total assets minus total liabilities. By comparison, CTVA has a P/B of 1.22.
These are just a few of the metrics contributing to DOLE's Value grade of B and CTVA's Value grade of D.
DOLE is currently sporting an improving earnings outlook, which makes it stick out in our Zacks Rank model. And, based on the above valuation metrics, we feel that DOLE is likely the superior value option right now.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
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
Dole PLC (DOLE) : Free Stock Analysis Report
Corteva, Inc. (CTVA) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Everyone has their own methods for finding great value opportunities, but our model includes pairing an impressive grade in the Value category of our Style Scores system with a strong Zacks Rank. The Zacks Rank favors stocks with strong earnings estimate revision trends, and our Style Scores highlight companies with specific traits. Value investors also try to analyze a wide range of traditional figures and metrics to help determine whether a company is undervalued at its current share price levels.
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The Zacks Rank favors stocks with strong earnings estimate revision trends, and our Style Scores highlight companies with specific traits. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research? Click to get this free report Dole PLC (DOLE) : Free Stock Analysis Report Corteva, Inc. (CTVA) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Investors interested in Agriculture - Operations stocks are likely familiar with Dole (DOLE) and Corteva, Inc. (CTVA). These are just a few of the metrics contributing to DOLE's Value grade of B and CTVA's Value grade of D. DOLE is currently sporting an improving earnings outlook, which makes it stick out in our Zacks Rank model. Click to get this free report Dole PLC (DOLE) : Free Stock Analysis Report Corteva, Inc. (CTVA) : Free Stock Analysis Report To read this article on Zacks.com click here.
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But which of these two companies is the best option for those looking for undervalued stocks? CTVA currently has a PEG ratio of 1.31. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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17fbb32d-ebd8-47db-a527-730f50a0c577
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714531.0
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2023-12-06 00:00:00 UTC
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PETQ vs. ABT: Which Stock Is the Better Value Option?
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DCOMP
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https://www.nasdaq.com/articles/petq-vs.-abt%3A-which-stock-is-the-better-value-option
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nan
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nan
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Investors interested in Medical - Products stocks are likely familiar with PetIQ (PETQ) and Abbott (ABT). But which of these two stocks presents investors with the better value opportunity right now? Let's take a closer look.
Everyone has their own methods for finding great value opportunities, but our model includes pairing an impressive grade in the Value category of our Style Scores system with a strong Zacks Rank. The proven Zacks Rank emphasizes companies with positive estimate revision trends, and our Style Scores highlight stocks with specific traits.
PetIQ and Abbott are sporting Zacks Ranks of #2 (Buy) and #3 (Hold), respectively, right now. This system places an emphasis on companies that have seen positive earnings estimate revisions, so investors should feel comfortable knowing that PETQ is likely seeing its earnings outlook improve to a greater extent. But this is just one factor that value investors are interested in.
Value investors are also interested in a number of tried-and-true valuation metrics that help show when a company is undervalued at its current share price levels.
Our Value category highlights undervalued companies by looking at a variety of key metrics, including the popular P/E ratio, as well as the P/S ratio, earnings yield, cash flow per share, and a variety of other fundamentals that have been used by value investors for years.
PETQ currently has a forward P/E ratio of 15.37, while ABT has a forward P/E of 23.50. We also note that PETQ has a PEG ratio of 1.92. This figure is similar to the commonly-used P/E ratio, with the PEG ratio also factoring in a company's expected earnings growth rate. ABT currently has a PEG ratio of 2.61.
Another notable valuation metric for PETQ is its P/B ratio of 2.17. Investors use the P/B ratio to look at a stock's market value versus its book value, which is defined as total assets minus total liabilities. By comparison, ABT has a P/B of 4.81.
Based on these metrics and many more, PETQ holds a Value grade of A, while ABT has a Value grade of C.
PETQ is currently sporting an improving earnings outlook, which makes it stick out in our Zacks Rank model. And, based on the above valuation metrics, we feel that PETQ is likely the superior value option right now.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
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
PetIQ, Inc. (PETQ) : Free Stock Analysis Report
Abbott Laboratories (ABT) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Everyone has their own methods for finding great value opportunities, but our model includes pairing an impressive grade in the Value category of our Style Scores system with a strong Zacks Rank. The proven Zacks Rank emphasizes companies with positive estimate revision trends, and our Style Scores highlight stocks with specific traits. Value investors are also interested in a number of tried-and-true valuation metrics that help show when a company is undervalued at its current share price levels.
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The proven Zacks Rank emphasizes companies with positive estimate revision trends, and our Style Scores highlight stocks with specific traits. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research? Click to get this free report PetIQ, Inc. (PETQ) : Free Stock Analysis Report Abbott Laboratories (ABT) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Our Value category highlights undervalued companies by looking at a variety of key metrics, including the popular P/E ratio, as well as the P/S ratio, earnings yield, cash flow per share, and a variety of other fundamentals that have been used by value investors for years. Based on these metrics and many more, PETQ holds a Value grade of A, while ABT has a Value grade of C. PETQ is currently sporting an improving earnings outlook, which makes it stick out in our Zacks Rank model. Click to get this free report PetIQ, Inc. (PETQ) : Free Stock Analysis Report Abbott Laboratories (ABT) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Investors interested in Medical - Products stocks are likely familiar with PetIQ (PETQ) and Abbott (ABT). ABT currently has a PEG ratio of 2.61. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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d8ecd05a-ba7c-455a-b714-bb189cadf198
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714532.0
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2023-12-06 00:00:00 UTC
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AEO vs. BOOT: Which Stock Is the Better Value Option?
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DCOMP
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https://www.nasdaq.com/articles/aeo-vs.-boot%3A-which-stock-is-the-better-value-option
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nan
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nan
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Investors interested in Retail - Apparel and Shoes stocks are likely familiar with American Eagle Outfitters (AEO) and Boot Barn (BOOT). But which of these two companies is the best option for those looking for undervalued stocks? Let's take a closer look.
Everyone has their own methods for finding great value opportunities, but our model includes pairing an impressive grade in the Value category of our Style Scores system with a strong Zacks Rank. The Zacks Rank favors stocks with strong earnings estimate revision trends, and our Style Scores highlight companies with specific traits.
Currently, American Eagle Outfitters has a Zacks Rank of #2 (Buy), while Boot Barn has a Zacks Rank of #4 (Sell). This means that AEO's earnings estimate revision activity has been more impressive, so investors should feel comfortable with its improving analyst outlook. But this is just one piece of the puzzle for value investors.
Value investors also try to analyze a wide range of traditional figures and metrics to help determine whether a company is undervalued at its current share price levels.
The Style Score Value grade factors in a variety of key fundamental metrics, including the popular P/E ratio, P/S ratio, earnings yield, cash flow per share, and a number of other key stats that are commonly used by value investors.
AEO currently has a forward P/E ratio of 14.59, while BOOT has a forward P/E of 15.41. We also note that AEO has a PEG ratio of 0.77. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. BOOT currently has a PEG ratio of 6.82.
Another notable valuation metric for AEO is its P/B ratio of 2.20. The P/B is a method of comparing a stock's market value to its book value, which is defined as total assets minus total liabilities. By comparison, BOOT has a P/B of 2.66.
These are just a few of the metrics contributing to AEO's Value grade of A and BOOT's Value grade of C.
AEO is currently sporting an improving earnings outlook, which makes it stick out in our Zacks Rank model. And, based on the above valuation metrics, we feel that AEO is likely the superior value option right now.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
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
American Eagle Outfitters, Inc. (AEO) : Free Stock Analysis Report
Boot Barn Holdings, Inc. (BOOT) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
Everyone has their own methods for finding great value opportunities, but our model includes pairing an impressive grade in the Value category of our Style Scores system with a strong Zacks Rank. The Zacks Rank favors stocks with strong earnings estimate revision trends, and our Style Scores highlight companies with specific traits. Value investors also try to analyze a wide range of traditional figures and metrics to help determine whether a company is undervalued at its current share price levels.
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The Zacks Rank favors stocks with strong earnings estimate revision trends, and our Style Scores highlight companies with specific traits. Currently, American Eagle Outfitters has a Zacks Rank of #2 (Buy), while Boot Barn has a Zacks Rank of #4 (Sell). Click to get this free report American Eagle Outfitters, Inc. (AEO) : Free Stock Analysis Report Boot Barn Holdings, Inc. (BOOT) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Investors interested in Retail - Apparel and Shoes stocks are likely familiar with American Eagle Outfitters (AEO) and Boot Barn (BOOT). These are just a few of the metrics contributing to AEO's Value grade of A and BOOT's Value grade of C. AEO is currently sporting an improving earnings outlook, which makes it stick out in our Zacks Rank model. Click to get this free report American Eagle Outfitters, Inc. (AEO) : Free Stock Analysis Report Boot Barn Holdings, Inc. (BOOT) : Free Stock Analysis Report To read this article on Zacks.com click here.
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BOOT currently has a PEG ratio of 6.82. Another notable valuation metric for AEO is its P/B ratio of 2.20. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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b7961404-2cf5-4178-88d5-685c84057379
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714533.0
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2023-12-06 00:00:00 UTC
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GIC or GWW: Which Is the Better Value Stock Right Now?
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DCOMP
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https://www.nasdaq.com/articles/gic-or-gww%3A-which-is-the-better-value-stock-right-now-0
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nan
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nan
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Investors interested in Industrial Services stocks are likely familiar with Global Industrial (GIC) and W.W. Grainger (GWW). But which of these two stocks presents investors with the better value opportunity right now? Let's take a closer look.
We have found that the best way to discover great value opportunities is to pair a strong Zacks Rank with a great grade in the Value category of our Style Scores system. The proven Zacks Rank puts an emphasis on earnings estimates and estimate revisions, while our Style Scores work to identify stocks with specific traits.
Currently, Global Industrial has a Zacks Rank of #1 (Strong Buy), while W.W. Grainger has a Zacks Rank of #3 (Hold). Investors should feel comfortable knowing that GIC likely has seen a stronger improvement to its earnings outlook than GWW has recently. But this is only part of the picture for value investors.
Value investors analyze a variety of traditional, tried-and-true metrics to help find companies that they believe are undervalued at their current share price levels.
The Style Score Value grade factors in a variety of key fundamental metrics, including the popular P/E ratio, P/S ratio, earnings yield, cash flow per share, and a number of other key stats that are commonly used by value investors.
GIC currently has a forward P/E ratio of 19.74, while GWW has a forward P/E of 21.96. We also note that GIC has a PEG ratio of 1.23. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. GWW currently has a PEG ratio of 1.69.
Another notable valuation metric for GIC is its P/B ratio of 5.64. The P/B ratio pits a stock's market value against its book value, which is defined as total assets minus total liabilities. For comparison, GWW has a P/B of 11.72.
These are just a few of the metrics contributing to GIC's Value grade of B and GWW's Value grade of C.
GIC has seen stronger estimate revision activity and sports more attractive valuation metrics than GWW, so it seems like value investors will conclude that GIC is the superior option right now.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
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
Global Industrial Company (GIC) : Free Stock Analysis Report
W.W. Grainger, Inc. (GWW) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Value investors analyze a variety of traditional, tried-and-true metrics to help find companies that they believe are undervalued at their current share price levels. Zacks Reveals ChatGPT "Sleeper" Stock One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys."
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Currently, Global Industrial has a Zacks Rank of #1 (Strong Buy), while W.W. Grainger has a Zacks Rank of #3 (Hold). The Style Score Value grade factors in a variety of key fundamental metrics, including the popular P/E ratio, P/S ratio, earnings yield, cash flow per share, and a number of other key stats that are commonly used by value investors. Click to get this free report Global Industrial Company (GIC) : Free Stock Analysis Report W.W. Grainger, Inc. (GWW) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Investors interested in Industrial Services stocks are likely familiar with Global Industrial (GIC) and W.W. Grainger (GWW). These are just a few of the metrics contributing to GIC's Value grade of B and GWW's Value grade of C. GIC has seen stronger estimate revision activity and sports more attractive valuation metrics than GWW, so it seems like value investors will conclude that GIC is the superior option right now. Click to get this free report Global Industrial Company (GIC) : Free Stock Analysis Report W.W. Grainger, Inc. (GWW) : Free Stock Analysis Report To read this article on Zacks.com click here.
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GWW currently has a PEG ratio of 1.69. These are just a few of the metrics contributing to GIC's Value grade of B and GWW's Value grade of C. GIC has seen stronger estimate revision activity and sports more attractive valuation metrics than GWW, so it seems like value investors will conclude that GIC is the superior option right now. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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cec42a8d-f3ce-4dd6-a911-5542b680ff80
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714534.0
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2023-12-06 00:00:00 UTC
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Mastercard (MA) Okays 16% Dividend Hike, $11B Buyback Program
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DCOMP
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https://www.nasdaq.com/articles/mastercard-ma-okays-16-dividend-hike-%2411b-buyback-program
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nan
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nan
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Mastercard Incorporated’s MA Board of Directors recently approved a 16% hike in the quarterly cash dividend to boost shareholder value. The increased dividend is 66 cents per share compared with the previous payout of 57 cents per share. Last year, MA had increased its quarterly dividend by 16% as well.
The hiked dividend will be paid out on Feb 9, 2024, to common shareholders of record as of Jan 9, 2024. With the latest announcement, Mastercard seems to be on a continuous dividend hike spree for a decade now. It has grown its dividend at a 10-year CAGR of 15.2%. Further, it has been a regular dividend-paying company for nearly two decades. Based on the stock’s Dec 5 closing price of $408.69, the new dividend will yield 0.6% to the company.
Apart from implementing dividend hikes, Mastercard also actively indulges in the pursuit of share buybacks. As evidence of the same, management is ready with a new share repurchase program even before the complete exhaustion of buyback capacity in the ongoing program. Under the new program, MA can buy back Class A common shares of up to $11 billion and it will come into effect once the $9-billion share buyback program (announced in December 2022) concludes. The prevailing program had a leftover capacity of roughly $3.5 billion as of Dec 1, 2023.
The company remained quite active in returning value to shareholders last year, wherein share repurchases to the tune of $8.8 billion were made and dividends worth $1.9 billion were distributed. Mastercard has sustained its solid capital deployment history in the first nine months of 2023 as well. In the said time frame, MA bought back common shares of $7.2 billion and paid out dividends of $1.6 billion to shareholders.
Another indicator of Mastercard’s comparative efficiency in utilizing shareholders’ funds relative to its industry peers is its return on equity figure. The metric was 188.8% as of Sep 30, 2023, way higher than the industry’s average of 43.4%.
A solid financial position provides the ground for Mastercard to resort to regular share buybacks and dividend payments. Adequate cash reserves as well as steady operating cash flows bear testament to MA’s financial strength. It had cash and cash equivalents of $6.9 billion as of Sep 30, 2023. MA also generated an operating cash flow of $7.9 billion in the first nine months of 2023.
Apart from undertaking commendable shareholder-friendly moves, a sound financial stand also equips Mastercard to resort to frequent investments in business and come up with an advanced suite of digital payment solutions to infuse digitization across different parts of the globe.
Shares of Mastercard have gained 17.6% in the past year compared with the industry’s 17% growth. MA currently carries a Zacks Rank #3 (Hold).
Image Source: Zacks Investment Research
Stocks to Consider
Some better-ranked stocks in the Business Services space are Huron Consulting Group Inc. HURN, SPX Technologies, Inc. SPXC and Trane Technologies plc TT. While Huron Consulting sports a Zacks Rank #1 (Strong Buy), SPX Technologies and Trane Technologies carry a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The bottom line of Huron Consulting outpaced estimates in each of the last four quarters, the average surprise being 25.69%. The Zacks Consensus Estimate for HURN’s 2023 earnings suggests an improvement of 38.9% from the year-ago reported figure. The consensus mark for revenues suggests growth of 20.4% from the year-ago actual. The consensus mark for HURN’s 2023 earnings has moved 1.9% north in the past 30 days.
SPX Technologies earnings outpaced estimates in each of the trailing four quarters, the average surprise being 28.04%. The Zacks Consensus Estimate for SPXC’s 2023 earnings suggests an improvement of 38.7% from the year-ago reported figure. The consensus mark for revenues suggests growth of 20% from the year-ago actual. The consensus mark for SPXC’s 2023 earnings has moved 0.7% north in the past 60 days.
The bottom line of Trane Technologies outpaced estimates in each of the last four quarters, the average surprise being 6.75%. The Zacks Consensus Estimate for TT’s 2023 earnings suggests an improvement of 22.2% from the year-ago reported figure. The consensus mark for revenues suggests growth of 10.6% from the year-ago actual. The consensus mark for TT’s 2023 earnings has moved 1.4% north in the past 60 days.
Shares of Huron Consulting, SPX Technologies and Trane Technologies have gained 34.6%, 34.2% and 30.9%, respectively, in the past year.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
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
Mastercard Incorporated (MA) : Free Stock Analysis Report
Huron Consulting Group Inc. (HURN) : Free Stock Analysis Report
Trane Technologies plc (TT) : Free Stock Analysis Report
SPX Technologies, Inc. (SPXC) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Mastercard Incorporated’s MA Board of Directors recently approved a 16% hike in the quarterly cash dividend to boost shareholder value. Another indicator of Mastercard’s comparative efficiency in utilizing shareholders’ funds relative to its industry peers is its return on equity figure. A solid financial position provides the ground for Mastercard to resort to regular share buybacks and dividend payments.
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Image Source: Zacks Investment Research Stocks to Consider Some better-ranked stocks in the Business Services space are Huron Consulting Group Inc. HURN, SPX Technologies, Inc. SPXC and Trane Technologies plc TT. While Huron Consulting sports a Zacks Rank #1 (Strong Buy), SPX Technologies and Trane Technologies carry a Zacks Rank #2 (Buy) at present. Click to get this free report Mastercard Incorporated (MA) : Free Stock Analysis Report Huron Consulting Group Inc. (HURN) : Free Stock Analysis Report Trane Technologies plc (TT) : Free Stock Analysis Report SPX Technologies, Inc. (SPXC) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Image Source: Zacks Investment Research Stocks to Consider Some better-ranked stocks in the Business Services space are Huron Consulting Group Inc. HURN, SPX Technologies, Inc. SPXC and Trane Technologies plc TT. While Huron Consulting sports a Zacks Rank #1 (Strong Buy), SPX Technologies and Trane Technologies carry a Zacks Rank #2 (Buy) at present. Click to get this free report Mastercard Incorporated (MA) : Free Stock Analysis Report Huron Consulting Group Inc. (HURN) : Free Stock Analysis Report Trane Technologies plc (TT) : Free Stock Analysis Report SPX Technologies, Inc. (SPXC) : Free Stock Analysis Report To read this article on Zacks.com click here.
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A solid financial position provides the ground for Mastercard to resort to regular share buybacks and dividend payments. Shares of Mastercard have gained 17.6% in the past year compared with the industry’s 17% growth. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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885e8a1c-7a4c-4db4-a61a-c5aa223ec076
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714535.0
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2023-12-06 00:00:00 UTC
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Travere (TVTX) Up on Latest Portfolio Updates & Reorganization
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DCOMP
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https://www.nasdaq.com/articles/travere-tvtx-up-on-latest-portfolio-updates-reorganization
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nan
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nan
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Shares of Travere Therapeutics, Inc. TVTX were up 17.6% on Dec 5 after the company provided updates on its marketed drug Filspari (sparsentan) and a strategic reorganization to cut costs.
Travere completed a pre-NDA meeting with the FDA to discuss the confirmatory data from the phase III PROTECT study evaluating its IgA nephropathy (“IgAN”) therapy, Filspari.
Following positive feedback from the regulatory body, the company is planning to submit a supplemental new drug application (“sNDA”) seeking to convert the existing accelerated approval for Filspari to full approval for treating IgAN, a rare progressive kidney disease. It is anticipated that the sNDA will be submitted in the first quarter of 2024.
The company is also evaluating sparsentan in the phase III DUPLEX study to address focal segmental glomerulosclerosis (“FSGS”). Travere has completed a planned Type C meeting with the FDA to discuss the previously reported data from the DUPLEX study.
The regulatory body has stated that the two-year data from the DUPLEX study alone is not sufficient enough to support an sNDA submission on sparsentan in FSGS. TVTX plans to conduct additional analyses of the above study data and will re-engage with the FDA later in 2024 to decide the regulatory path forward for sparsentan in FSGS.
Shares of Travere have plunged 64.8% year to date compared with the industry’s decline of 20.7%.
Image Source: Zacks Investment Research
This apart, Travere also announced a strategic reorganization, including the clinical development of its pipeline candidate, pegtibatinase, as the first potential disease-modifying treatment for classical homocystinuria.
As part of the reorganization, the company is looking to reduce its current workforce by almost 20%, which in return is expected to make an estimated annualized savings of around $25 million starting in 2024.
TVTX also anticipates operating expenses to be less than $400 million in 2024. The company had cash and cash equivalents worth $634.6 as of Sep 30, 2023.
Per management, cash and cash equivalents, along with the planned cost reduction measure, are expected to extend the cash runway into 2028.
Zacks Rank & Stocks to Consider
Travere currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the healthcare sector are Avalo Therapeutics, Inc. AVTX, Entrada Therapeutics, Inc. TRDA and Puma Biotechnology, Inc. PBYI, each sporting a Zacks Rank #1 (Strong Buy).You can see the complete list of today’s Zacks #1 Rank stocks here.
In the past 60 days, estimates for Avalo Therapeutics’ 2023 loss per share have narrowed from $4.12 to 40 cents. Meanwhile, loss per share estimates for 2024 have narrowed from $4.62 to 7 cents. Year-to-date, shares of AVTX have lost 98.8%.
Earnings of Avalo Therapeutics beat estimates in three of the last four quarters while missing the same on the remaining occasion. AVTX delivered a four-quarter earnings surprise of 9.20%, on average.
In the past 60 days, estimates for Entrada Therapeutics’ 2023 loss per share have narrowed from $2.07 to 9 cents. Meanwhile, loss per share estimates for 2024 have narrowed from $2.35 to $2.04. Year-to-date, shares of TRDA have increased by 3.9%.
Earnings of Entrada Therapeutics beat estimates in three of the last four quarters while missing the same on the remaining occasion. TRDA delivered a four-quarter average earnings surprise of 70.68%.
In the past 60 days, estimates for Puma Biotechnology’s 2023 earnings per share have improved from 67 cents to 72 cents. During the same period, earnings per share estimates for 2024 have moved up from 55 cents to 64 cents. Year-to-date, shares of PBYI have lost 12.1%.
Earnings of Puma Biotechnology beat estimates in three of the last four quarters while missing the same on the remaining occasion. PBYI delivered a four-quarter average earnings surprise of 76.55%.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
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
Puma Biotechnology, Inc. (PBYI) : Free Stock Analysis Report
Travere Therapeutics, Inc. (TVTX) : Free Stock Analysis Report
Avalo Therapeutics, Inc. (AVTX) : Free Stock Analysis Report
Entrada Therapeutics, Inc. (TRDA) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Shares of Travere Therapeutics, Inc. TVTX were up 17.6% on Dec 5 after the company provided updates on its marketed drug Filspari (sparsentan) and a strategic reorganization to cut costs. Travere completed a pre-NDA meeting with the FDA to discuss the confirmatory data from the phase III PROTECT study evaluating its IgA nephropathy (“IgAN”) therapy, Filspari. Image Source: Zacks Investment Research This apart, Travere also announced a strategic reorganization, including the clinical development of its pipeline candidate, pegtibatinase, as the first potential disease-modifying treatment for classical homocystinuria.
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Some better-ranked stocks in the healthcare sector are Avalo Therapeutics, Inc. AVTX, Entrada Therapeutics, Inc. TRDA and Puma Biotechnology, Inc. PBYI, each sporting a Zacks Rank #1 (Strong Buy).You can see the complete list of today’s Zacks #1 Rank stocks here. In the past 60 days, estimates for Avalo Therapeutics’ 2023 loss per share have narrowed from $4.12 to 40 cents. Click to get this free report Puma Biotechnology, Inc. (PBYI) : Free Stock Analysis Report Travere Therapeutics, Inc. (TVTX) : Free Stock Analysis Report Avalo Therapeutics, Inc. (AVTX) : Free Stock Analysis Report Entrada Therapeutics, Inc. (TRDA) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Some better-ranked stocks in the healthcare sector are Avalo Therapeutics, Inc. AVTX, Entrada Therapeutics, Inc. TRDA and Puma Biotechnology, Inc. PBYI, each sporting a Zacks Rank #1 (Strong Buy).You can see the complete list of today’s Zacks #1 Rank stocks here. In the past 60 days, estimates for Puma Biotechnology’s 2023 earnings per share have improved from 67 cents to 72 cents. Click to get this free report Puma Biotechnology, Inc. (PBYI) : Free Stock Analysis Report Travere Therapeutics, Inc. (TVTX) : Free Stock Analysis Report Avalo Therapeutics, Inc. (AVTX) : Free Stock Analysis Report Entrada Therapeutics, Inc. (TRDA) : Free Stock Analysis Report To read this article on Zacks.com click here.
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It is anticipated that the sNDA will be submitted in the first quarter of 2024. Some better-ranked stocks in the healthcare sector are Avalo Therapeutics, Inc. AVTX, Entrada Therapeutics, Inc. TRDA and Puma Biotechnology, Inc. PBYI, each sporting a Zacks Rank #1 (Strong Buy).You can see the complete list of today’s Zacks #1 Rank stocks here. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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8bce07b4-799e-4d97-9a67-bfc9115ab597
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714536.0
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2023-12-06 00:00:00 UTC
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ImmunoGen (IMGN) Gets FDA Priority Review for Elahere sBLA
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DCOMP
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https://www.nasdaq.com/articles/immunogen-imgn-gets-fda-priority-review-for-elahere-sbla
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nan
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nan
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ImmunoGen, Inc. IMGN announced that the FDA accepted its supplemental biologics license application (“sBLA”), seeking to convert the accelerated approval for its sole marketed drug, Elahere (mirvetuximab soravtansine), to full approval for treating FRα-positive platinum-resistant ovarian cancer.
With the FDA granting a priority review to the sBLA, a decision from the regulatory body is expected on Apr 5, 2024.
The FDA granted priority review to the sBLA based on data from the phase III MIRASOL study, which evaluated Elahere in platinum-resistant ovarian cancer. Data from the same showed that treatment with Elahere led to statistically significant and clinically meaningful improvements in progression-free survival, objective response rate and overall survival versus single-agent chemotherapy.
The FDA approved Elahere under the accelerated pathway for FRα-positive platinum-resistant ovarian cancer in November 2022. This decision was based on data from the pivotal SORAYA study.
ImmunoGen has filed a marketing authorization application to the European Medicines Agency, seeking approval of Elahere in FRα-positive platinum-resistant ovarian cancer, with a potential nod expected in late 2024.
Shares of ImmunoGen have skyrocketed 488.9% year to date against the industry’s decline of 8.5%.
Image Source: Zacks Investment Research
ImmunoGen stock received a boost last week when drug giant AbbVie ABBV announced a definitive agreement to acquire the company for $10.1 billion. The transaction is expected to close in mid-2024, subject to shareholder and regulatory approval.
Under the terms of the deal, the purchase price offered by ABBV of $31.26 represents a premium of almost 95% on ImmunoGen’s closing price of $16.06 on Nov 29.
The acquisition is likely to diversify AbbVie’s oncology pipeline across solid tumors and hematologic malignancies.
Elahere recorded sales of $212 million in the first nine months of 2023. The drug is also being evaluated in multiple studies, both as monotherapy and in combination with other drugs, for ovarian cancer, which should expand the drug’s use in earlier lines of therapy and additional patient populations upon successful development and potential approval.
Zacks Rank & Other Stocks to Consider
ImmunoGen currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the same sector are Avalo Therapeutics, Inc. AVTX and Harpoon Therapeutics, Inc. HARP, each sporting a Zacks Rank #1 (Strong Buy).You can see the complete list of today’s Zacks #1 Rank stocks here.
In the past 60 days, estimates for Avalo Therapeutics’ 2023 loss per share have narrowed from $4.12 to 40 cents. Meanwhile, loss per share estimates for 2024 have narrowed from $4.62 to 7 cents. Year-to-date, shares of AVTX have lost 98.8%.
Earnings of Avalo Therapeutics beat estimates in three of the last four quarters while missing the same on the remaining occasion. AVTX delivered a four-quarter average earnings surprise of 9.20%.
In the past 60 days, estimates for Harpoon Therapeutics’ 2023 loss per share have narrowed from $5.83 to $1.93. Meanwhile, loss per share estimates for 2024 have narrowed from $5.60 to $3.23. Year-to-date, shares of HARP have increased by 46.3%.
Earnings of Harpoon Therapeutics beat estimates in three of the last four quarters while missing the same on the remaining occasion. HARP delivered a four-quarter average earnings surprise of 47.59%.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
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
ImmunoGen, Inc. (IMGN) : Free Stock Analysis Report
AbbVie Inc. (ABBV) : Free Stock Analysis Report
Harpoon Therapeutics, Inc. (HARP) : Free Stock Analysis Report
Avalo Therapeutics, Inc. (AVTX) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The FDA granted priority review to the sBLA based on data from the phase III MIRASOL study, which evaluated Elahere in platinum-resistant ovarian cancer. ImmunoGen has filed a marketing authorization application to the European Medicines Agency, seeking approval of Elahere in FRα-positive platinum-resistant ovarian cancer, with a potential nod expected in late 2024. Image Source: Zacks Investment Research ImmunoGen stock received a boost last week when drug giant AbbVie ABBV announced a definitive agreement to acquire the company for $10.1 billion.
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Some other top-ranked stocks in the same sector are Avalo Therapeutics, Inc. AVTX and Harpoon Therapeutics, Inc. HARP, each sporting a Zacks Rank #1 (Strong Buy).You can see the complete list of today’s Zacks #1 Rank stocks here. In the past 60 days, estimates for Harpoon Therapeutics’ 2023 loss per share have narrowed from $5.83 to $1.93. Click to get this free report ImmunoGen, Inc. (IMGN) : Free Stock Analysis Report AbbVie Inc. (ABBV) : Free Stock Analysis Report Harpoon Therapeutics, Inc. (HARP) : Free Stock Analysis Report Avalo Therapeutics, Inc. (AVTX) : Free Stock Analysis Report To read this article on Zacks.com click here.
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ImmunoGen, Inc. IMGN announced that the FDA accepted its supplemental biologics license application (“sBLA”), seeking to convert the accelerated approval for its sole marketed drug, Elahere (mirvetuximab soravtansine), to full approval for treating FRα-positive platinum-resistant ovarian cancer. Some other top-ranked stocks in the same sector are Avalo Therapeutics, Inc. AVTX and Harpoon Therapeutics, Inc. HARP, each sporting a Zacks Rank #1 (Strong Buy).You can see the complete list of today’s Zacks #1 Rank stocks here. Click to get this free report ImmunoGen, Inc. (IMGN) : Free Stock Analysis Report AbbVie Inc. (ABBV) : Free Stock Analysis Report Harpoon Therapeutics, Inc. (HARP) : Free Stock Analysis Report Avalo Therapeutics, Inc. (AVTX) : Free Stock Analysis Report To read this article on Zacks.com click here.
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The FDA granted priority review to the sBLA based on data from the phase III MIRASOL study, which evaluated Elahere in platinum-resistant ovarian cancer. Some other top-ranked stocks in the same sector are Avalo Therapeutics, Inc. AVTX and Harpoon Therapeutics, Inc. HARP, each sporting a Zacks Rank #1 (Strong Buy).You can see the complete list of today’s Zacks #1 Rank stocks here. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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480ae966-c4e5-41cc-b6c7-bccf5c0abc23
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714537.0
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2023-12-06 00:00:00 UTC
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Uncertainty on the Rise in 2024: 3 Stocks Investors Should Buy
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DCOMP
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https://www.nasdaq.com/articles/uncertainty-on-the-rise-in-2024%3A-3-stocks-investors-should-buy
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nan
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nan
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Although 2023 has been a banner year thus far, with the S&P 500 up 20% YTD and the Nasdaq 100 up 46% YTD, I think there are some concerning data points leading me to enter 2024 cautiously. However, even though I am a bit worried, there are a few stocks that should perform well regardless of the kind of economic landscape.
Recession Indicators
One well-known recession marker is the treasury yield curve inversion. What is often not included about the indicator is that it isn’t the inversion that signals a recession, but rather the disinversion. In the chart below, which shows the spread between the 10yr treasury yield and the 2yr treasury yield, we can see that the normalization of the yield curve precedes the recession marked in gray.
We can also see in the chart below, that the curve is nearing this disinversion signal. Although these signals are not a guarantee, it has definitely alerted me to a possibility of increasing market uncertainty.
Image Source: St Louis Fed
We have also seen a marked deterioration in the job market, as well as some rapid revisions lower in US GDP growth estimates. Just this week we saw both job openings and ADP employment figures come in well below estimates.
Additionally, following the Q3 GDP estimates showing an impressive 5.3% figure, Q4 annualized GDP estimates have fallen to just 1.2%. All these factors together have my me anticipating at least a moderate slowdown sometime in early 2024.
Image Source: Atlanta Fed
Discount Mega-Cap Tech
Both Alphabet GOOGL and Meta Platforms META are trading at very appealing relative valuations. Even after a strong performance this year for both stocks, the valuations are still below historical averages. Furthermore, their business models are as secure as ever, with billions of people using the products daily.
Meta Platforms is trading at a one year forward earnings multiple of 22.3x, below its 10-year median of 26.6x, and Alphabet is trading at a one year forward earnings multiple of 22.8x, below its 10-year median of 26.3x.
Furthermore, these companies are both producing tremendous free cash flow, especially relative to the valuations. Free cash flow yield is one of my favorite ways to value companies, as FCF is a no-nonsense measure of business profitability.
Alphabet is near its 10-year high at 4.7% FCF yield and although Meta is well off its high from last year it is still well above its average at 4.5%. These are the most compelling mega-cap tech stocks of the bunch in my opinion.
Image Source: Zacks Investment Research
Both companies are also forecasting the highest EPS growth estimates among the magnificent seven. GOOGL estimates EPS growth over the next 3-5 years of 16.6% annually, and META expects 21.3%.
The combination of strong growth and fair valuations make these two stocks especially appealing in the case of a downturn or a strong market. If there is a slowdown like I expect may happen, these stocks have limited downside. And if I am wrong, and the economy is strong, they should benefit tremendously.
Coinbase Global
Coinbase Global COIN on the other hand, while not trading at a discount valuation, is appealing in its own way. If market uncertainty rises in 2024, investors may rotate into Bitcoin as a way to hedge their portfolio’s, which should in turn push COIN stock higher as well.
We can see exactly that happened this year as the price of Bitcoin is up 166% YTD and Coinbase Global stock is up nearly 300% over the same period. Coinbase Global has also benefited from the crackdown on cryptocurrency exchanges, as nearly all of them have been hampered by regulatory issues.
Although COIN has experienced similar changes, it seems to have dealt with them in a more effective way and is now the clear leader in the space. Being the biggest brand in crypto means Coinbase should continue to attract new entrants in the market.
Image Source: Zacks Investment Research
COIN has also seen some very strong earnings estimate increases from analysts, giving it a Zacks Rank #2 (Buy) rating. Current quarter earnings estimates have been revised higher by 56% in the last month and are projected to climb 91% YoY. FY23 earnings estimates have jumped by 22% and are expected to grow 92% YoY.
Image Source: Zacks Investment Research
Bottom Line
Of course, nobody knows for sure what the economy will look like in three to six months but based on the evolving environment I lean to the defensive side. Fortunately, some of the best companies in the market are still trading at attractive levels, which allows investors to still participate even in a challenging environment.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
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
Alphabet Inc. (GOOGL) : Free Stock Analysis Report
Coinbase Global, Inc. (COIN) : Free Stock Analysis Report
Meta Platforms, Inc. (META) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Image Source: St Louis Fed We have also seen a marked deterioration in the job market, as well as some rapid revisions lower in US GDP growth estimates. If market uncertainty rises in 2024, investors may rotate into Bitcoin as a way to hedge their portfolio’s, which should in turn push COIN stock higher as well. Image Source: Zacks Investment Research Bottom Line Of course, nobody knows for sure what the economy will look like in three to six months but based on the evolving environment I lean to the defensive side.
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Image Source: Atlanta Fed Discount Mega-Cap Tech Both Alphabet GOOGL and Meta Platforms META are trading at very appealing relative valuations. Meta Platforms is trading at a one year forward earnings multiple of 22.3x, below its 10-year median of 26.6x, and Alphabet is trading at a one year forward earnings multiple of 22.8x, below its 10-year median of 26.3x. Click to get this free report Alphabet Inc. (GOOGL) : Free Stock Analysis Report Coinbase Global, Inc. (COIN) : Free Stock Analysis Report Meta Platforms, Inc. (META) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Meta Platforms is trading at a one year forward earnings multiple of 22.3x, below its 10-year median of 26.6x, and Alphabet is trading at a one year forward earnings multiple of 22.8x, below its 10-year median of 26.3x. Image Source: Zacks Investment Research COIN has also seen some very strong earnings estimate increases from analysts, giving it a Zacks Rank #2 (Buy) rating. Click to get this free report Alphabet Inc. (GOOGL) : Free Stock Analysis Report Coinbase Global, Inc. (COIN) : Free Stock Analysis Report Meta Platforms, Inc. (META) : Free Stock Analysis Report To read this article on Zacks.com click here.
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We can see exactly that happened this year as the price of Bitcoin is up 166% YTD and Coinbase Global stock is up nearly 300% over the same period. Image Source: Zacks Investment Research COIN has also seen some very strong earnings estimate increases from analysts, giving it a Zacks Rank #2 (Buy) rating. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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c96650ca-b870-4b38-8841-d2fd4c3a19a4
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714538.0
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2023-12-06 00:00:00 UTC
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EverQuote (EVER) Up 17% Since Last Earnings Report: Can It Continue?
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DCOMP
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https://www.nasdaq.com/articles/everquote-ever-up-17-since-last-earnings-report%3A-can-it-continue
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nan
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nan
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It has been about a month since the last earnings report for EverQuote (EVER). Shares have added about 17% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is EverQuote due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts.
EverQuote Q3 Earnings & Revenues Surpass Estimates
EverQuote, Inc. incurred a loss of 40 cents per share in third-quarter 2023, narrower than the Zacks Consensus Estimate of a loss of 72 cents. However, the loss was wider than the year-ago quarter’s loss of 20 cents per share.
Total revenues of $55 million beat the Zacks Consensus Estimate by 5.3%. The top line declined 46.7% year over year, primarily attributable to weak performance in both Automotive and Other insurance verticals. Given the prolonged auto insurance downturn, the Automotive insurance vertical’s revenues witnessed a year-over-year decline. However, a streamlined cost structure provided respite.
Behind the Headlines
Revenues from the Automotive insurance vertical were $43.1 million, down 51% year over year. The Zacks Consensus Estimate was pegged at $39.1 million. Our estimate was $38 million. Revenues in the Home and Renters insurance vertical totaled $10.9 million, which increased 51% year over year. The Zacks Consensus Estimate was pegged at $12.9 million.
Revenues in the Other insurance vertical totaled $1 million, which plunged 86.7% year over year.
Total costs and operating expenses decreased 23.1% to $84.4 million, mainly due to lower sales and marketing, general and administrative and research and development. Our estimate was $71.2 million.
EverQuote’s variable marketing margin decreased 39.2% year over year in the quarter under review to $19.4 million. Our estimate was $16.2 million. Adjusted EBITDA was negative $1.9 million versus $2 million earned in the year-ago quarter. Our estimate was negative $5.7 million.
Financial Update
EverQuote exited the third quarter with cash and cash equivalents of $39 million, up from $30.8 million at 2022-end. Total assets were $114 million, down from $156.5 million at 2022-end. Total stockholders' equity decreased 23.8% to $81.9 million. Cash used in operations was $2 million in the first nine months of 2023 versus an outflow of $10.9 million in the year-ago period.
Q4 Guidance
EverQuote estimates revenues of $47-$52 million, a variable marketing margin of $16.5-$18.5 million and adjusted EBITDA of ($2.5)- ($4.5) million.
How Have Estimates Been Moving Since Then?
It turns out, fresh estimates have trended upward during the past month.
The consensus estimate has shifted 16.23% due to these changes.
VGM Scores
At this time, EverQuote has a nice Growth Score of B, though it is lagging a lot on the Momentum Score front with an F. Charting a somewhat similar path, the stock was allocated a grade of D on the value side, putting it in the bottom 40% for this investment strategy.
Overall, the stock has an aggregate VGM Score of D. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been trending upward for the stock, and the magnitude of these revisions looks promising. It comes with little surprise EverQuote has a Zacks Rank #2 (Buy). We expect an above average return from the stock in the next few months.
Performance of an Industry Player
EverQuote is part of the Zacks Insurance - Multi line industry. Over the past month, MetLife (MET), a stock from the same industry, has gained 6.5%. The company reported its results for the quarter ended September 2023 more than a month ago.
MetLife reported revenues of $18.24 billion in the last reported quarter, representing a year-over-year change of -23%. EPS of $1.97 for the same period compares with $1.21 a year ago.
For the current quarter, MetLife is expected to post earnings of $2.08 per share, indicating a change of +34.2% from the year-ago quarter. The Zacks Consensus Estimate has changed -2.7% over the last 30 days.
MetLife has a Zacks Rank #3 (Hold) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of B.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
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
EverQuote, Inc. (EVER) : Free Stock Analysis Report
MetLife, Inc. (MET) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts. Total costs and operating expenses decreased 23.1% to $84.4 million, mainly due to lower sales and marketing, general and administrative and research and development. As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys."
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Adjusted EBITDA was negative $1.9 million versus $2 million earned in the year-ago quarter. Q4 Guidance EverQuote estimates revenues of $47-$52 million, a variable marketing margin of $16.5-$18.5 million and adjusted EBITDA of ($2.5)- ($4.5) million. Click to get this free report EverQuote, Inc. (EVER) : Free Stock Analysis Report MetLife, Inc. (MET) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Total revenues of $55 million beat the Zacks Consensus Estimate by 5.3%. Q4 Guidance EverQuote estimates revenues of $47-$52 million, a variable marketing margin of $16.5-$18.5 million and adjusted EBITDA of ($2.5)- ($4.5) million. Click to get this free report EverQuote, Inc. (EVER) : Free Stock Analysis Report MetLife, Inc. (MET) : Free Stock Analysis Report To read this article on Zacks.com click here.
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It has been about a month since the last earnings report for EverQuote (EVER). Our estimate was $38 million. Our estimate was $71.2 million.
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d8e2c280-08a7-4c44-ab0f-c73641726e2e
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714539.0
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2023-12-06 00:00:00 UTC
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International Flavors (IFF) Up 5.4% Since Last Earnings Report: Can It Continue?
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DCOMP
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https://www.nasdaq.com/articles/international-flavors-iff-up-5.4-since-last-earnings-report%3A-can-it-continue
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nan
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nan
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A month has gone by since the last earnings report for International Flavors (IFF). Shares have added about 5.4% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is International Flavors due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers.
International Flavors Q3 Earnings Beat Estimates, Decline Y/Y
International Flavors reported adjusted earnings of 89 cents per share in third-quarter 2023, beating the Zacks Consensus Estimate of earnings of 76 cents per share. The bottom line declined 35% from the year-ago quarter.
Including one-time items, the company reported earnings of 10 cents per share against the prior-year quarter’s loss of $8.60 per share.
International Flavors’ net sales declined 8% year over year to $2,820 million but surpassed the Zacks Consensus Estimate of $2,765 million. On a comparable basis, currency-neutral sales were down 3% compared with last year’s quarter.
Growth in Scent and Health & Biosciences was offset by weakness in the Nourish & Pharma Solutions segments. Pricing remained strong while volumes were down year over year. On a sequential basis, the company witnessed improvement in volumes across all segments.
Operational Highlights
In the reported quarter, International Flavors’ cost of goods sold was down 8% year over year to $1,896 million. The gross profit fell 8% year over year to $924 million. The gross margin was 32.8% compared with 32.7% in the year-ago quarter.
Research and development expenses increased 8% year over year to $157 million. The selling and administrative expenses rose 8% year over year to $444 million in the second quarter.
The adjusted operating EBITDA was $506 million, down 14% from the prior-year quarter’s $587 million. On a comparable basis, currency-neutral adjusted operating EBITDA declined 10% year over year as strong pricing and productivity gains were offset by lower volumes and unfavorable manufacturing absorption. The adjusted operating EBITDA margin was 17.9% compared with the year-ago quarter’s 19.2%.
Segment Performances
Revenues in the Nourish segment fell 15% year over year to $1,449 million in the September-end quarter. On a comparable basis, currency-neutral sales were down 9%. The figure came in higher than our estimate of segment sales of $1,395 million.
The segment’s adjusted operating EBITDA was $178 million, down 38% year over year. On a comparable basis, currency-neutral adjusted operating EBITDA declined 26%. Gains from price increases and productivity gains were more than offset by lower volumes and unfavorable manufacturing absorption related to the company's inventory reduction program. Our estimate for the segment’s adjusted EBITDA was $184 million.
Revenues generated in the Health & Bioscience segment were $518 million compared with the year-earlier quarter’s figure of $512 million. Currency-neutral sales rose 2% on a comparable basis. Growth was aided by Cultures & Food Enzymes, Grain Processing, Home & Personal Care and Animal Nutrition. Our estimate was $471 million for the same.
The adjusted operating EBITDA was $150 million in the quarter compared with $137 million in the prior-year quarter. Price increases and productivity gains led to the improvement. Our model had projected EBITDA of $114 million for the segment.
The Scent segment’s revenues were $615 million compared with the year-ago quarter’s $591 million. Currency-neutral sales improved 7%, led by double-digit growth in Consumer Fragrance and a high-single-digit increase in Fine Fragrance. Volumes and prices were favorable. The figure was lower than our estimate of $623 million.
The adjusted operating EBITDA increased 10% year over year to $131 million. On a comparable basis, currency-neutral adjusted operating EBITDA improved 19% thanks to favorable price and productivity gains. The figure was higher than our projection of $93 million.
Revenues in Pharma Solutions were $238 million in the third quarter, down 7% year over year. The segment’s sales, as per our model, were $276 million. The adjusted operating EBITDA plunged 32% year over year to $47 million as lower volumes negated the gains from higher pricing and productivity gains. The figure came in line with our expectation.
Financial Position
International Flavors had cash and cash equivalents of $639 million at the end of the third quarter of 2023, up from the $493 million held at the end of 2022. Long-term debt was at around $9.2 billion at the third-quarter end, down from $10.4 billion recorded as of Dec 31, 2022.
International Flavors generated $795 million in operating activities in the first nine-month period of fiscal 2023 against $189 million in the prior year’s comparable period, due to solid improvement in inventories.
2023 Guidance
International Flavors maintains sales guidance at $11.3-$11.6 billion for 2023. The adjusted EBITDA is now expected to be at the mid to high end of its stated range of $1.85 billion to $2.00 billion.
How Have Estimates Been Moving Since Then?
In the past month, investors have witnessed a downward trend in estimates revision.
VGM Scores
At this time, International Flavors has a subpar Growth Score of D, however its Momentum Score is doing a bit better with a C. Charting a somewhat similar path, the stock was allocated a grade of D on the value side, putting it in the bottom 40% for this investment strategy.
Overall, the stock has an aggregate VGM Score of D. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been broadly trending downward for the stock, and the magnitude of these revisions looks promising. Notably, International Flavors has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Performance of an Industry Player
International Flavors is part of the Zacks Consumer Products - Staples industry. Over the past month, Newell Brands (NWL), a stock from the same industry, has gained 15.9%. The company reported its results for the quarter ended September 2023 more than a month ago.
Newell Brands reported revenues of $2.05 billion in the last reported quarter, representing a year-over-year change of -9.1%. EPS of $0.39 for the same period compares with $0.53 a year ago.
For the current quarter, Newell Brands is expected to post earnings of $0.17 per share, indicating a change of +6.3% from the year-ago quarter. The Zacks Consensus Estimate has changed -0.3% over the last 30 days.
Newell Brands has a Zacks Rank #3 (Hold) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of B.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
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
International Flavors & Fragrances Inc. (IFF) : Free Stock Analysis Report
Newell Brands Inc. (NWL) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers. Growth was aided by Cultures & Food Enzymes, Grain Processing, Home & Personal Care and Animal Nutrition. As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys."
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International Flavors Q3 Earnings Beat Estimates, Decline Y/Y International Flavors reported adjusted earnings of 89 cents per share in third-quarter 2023, beating the Zacks Consensus Estimate of earnings of 76 cents per share. On a comparable basis, currency-neutral adjusted operating EBITDA declined 10% year over year as strong pricing and productivity gains were offset by lower volumes and unfavorable manufacturing absorption. Click to get this free report International Flavors & Fragrances Inc. (IFF) : Free Stock Analysis Report Newell Brands Inc. (NWL) : Free Stock Analysis Report To read this article on Zacks.com click here.
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International Flavors Q3 Earnings Beat Estimates, Decline Y/Y International Flavors reported adjusted earnings of 89 cents per share in third-quarter 2023, beating the Zacks Consensus Estimate of earnings of 76 cents per share. International Flavors’ net sales declined 8% year over year to $2,820 million but surpassed the Zacks Consensus Estimate of $2,765 million. The adjusted operating EBITDA was $150 million in the quarter compared with $137 million in the prior-year quarter.
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A month has gone by since the last earnings report for International Flavors (IFF). International Flavors’ net sales declined 8% year over year to $2,820 million but surpassed the Zacks Consensus Estimate of $2,765 million. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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ea54b9d6-d2b6-42c5-90fb-28db01c7a55d
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714540.0
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2023-12-06 00:00:00 UTC
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TripAdvisor (TRIP) Down 0.6% Since Last Earnings Report: Can It Rebound?
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DCOMP
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https://www.nasdaq.com/articles/tripadvisor-trip-down-0.6-since-last-earnings-report%3A-can-it-rebound-0
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nan
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nan
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It has been about a month since the last earnings report for TripAdvisor (TRIP). Shares have lost about 0.6% in that time frame, underperforming the S&P 500.
Will the recent negative trend continue leading up to its next earnings release, or is TripAdvisor due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers.
TripAdvisor Q3 Earnings & Revenues Beat, Rise Y/Y
TripAdvisor reported non-GAAP third-quarter 2023 earnings of 52 cents per share, beating the Zacks Consensus Estimate by 8.3%. The bottom line was up 37% year over year.
Revenues of $533 million surged 16% year over year and surpassed the Zacks Consensus Estimate of $506 million.
Top-line growth was driven by growing demand for travel industry-related services. Strong momentum across Viator contributed well to the top line.
A well-performing TheFork segment benefited the company.
However, weakness in hotel meta offerings, primarily due to sluggishness in Europe, was a concern.
Quarterly Details
TripAdvisor reports revenues under three segments: Tripadvisor Core, Viator and TheFork.
Tripadvisor Core: Revenues summed $290 million (accounting for 54.4% of revenues), up 2% year over year. The figure came above the consensus mark of $278 million. Tripadvisor-branded display and platform revenues jumped 15% year over year to $38 million. Revenues from Tripadvisor experiences and dining were $55 million, increasing by 22% year over year.
However, revenues from Tripadvisor-branded hotels decreased 4% from the prior-year quarter’s level to $181 million. Other revenues consisting of rentals, flights, cars and cruise revenues were $16 million, down 11% year over year.
Viator: Revenues totaled $245 million (46% of the top line). The figure increased by 41% from the year-ago quarter’s level and surpassed the Zacks Consensus Estimate of $229 million.
TheFork: Revenues came in at $42 million (7.9% of revenues), increasing 20% year over year. The figure came slightly below the consensus mark of $42.05 million.
Operating Results
TripAdvisor’s selling and marketing costs increased 16% year over year to $272 million.
General and administrative costs were up 9% from the year-ago quarter’s level to $49 million.
Technology and content costs of $66 million increased by 20% on a year-over-year basis.
TRIP reported an operating margin that contracted 320 basis points (bps) year over year to 12% in the third quarter.
In the reported quarter, the total adjusted EBITDA margin was 23.8%, which contracted 130 bps on a year-over-year basis.
Balance Sheet & Cash Flow
As of Sep 30, 2023, cash and cash equivalents were $1.12 billion compared with $1.14 billion as of Jun 30, 2023.
Long-term debt stood at $839 million at the end of the third quarter compared with $838 million at the end of the previous quarter.
Cash generated from operations was $14 million in the reported quarter, significantly down from $105 million in the prior quarter.
Free cash flow was an outflow of $2 million in the third quarter.
How Have Estimates Been Moving Since Then?
In the past month, investors have witnessed a downward trend in estimates review.
The consensus estimate has shifted 6.77% due to these changes.
VGM Scores
Currently, TripAdvisor has a nice Growth Score of B, a grade with the same score on the momentum front. Charting a somewhat similar path, the stock was allocated a grade of A on the value side, putting it in the top 20% for this investment strategy.
Overall, the stock has an aggregate VGM Score of A. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been broadly trending downward for the stock, and the magnitude of these revisions has been net zero. Notably, TripAdvisor has a Zacks Rank #2 (Buy). We expect an above average return from the stock in the next few months.
Performance of an Industry Player
TripAdvisor belongs to the Zacks Internet - Commerce industry. Another stock from the same industry, Wayfair (W), has gained 20.1% over the past month. More than a month has passed since the company reported results for the quarter ended September 2023.
Wayfair reported revenues of $2.94 billion in the last reported quarter, representing a year-over-year change of +3.7%. EPS of -$0.13 for the same period compares with -$2.11 a year ago.
Wayfair is expected to post a loss of $0.21 per share for the current quarter, representing a year-over-year change of +87.7%. Over the last 30 days, the Zacks Consensus Estimate has changed +2.8%.
The overall direction and magnitude of estimate revisions translate into a Zacks Rank #2 (Buy) for Wayfair. Also, the stock has a VGM Score of C.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
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
TripAdvisor, Inc. (TRIP) : Free Stock Analysis Report
Wayfair Inc. (W) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers. Charting a somewhat similar path, the stock was allocated a grade of A on the value side, putting it in the top 20% for this investment strategy. As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys."
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TripAdvisor Q3 Earnings & Revenues Beat, Rise Y/Y TripAdvisor reported non-GAAP third-quarter 2023 earnings of 52 cents per share, beating the Zacks Consensus Estimate by 8.3%. Quarterly Details TripAdvisor reports revenues under three segments: Tripadvisor Core, Viator and TheFork. Click to get this free report TripAdvisor, Inc. (TRIP) : Free Stock Analysis Report Wayfair Inc. (W) : Free Stock Analysis Report To read this article on Zacks.com click here.
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TripAdvisor Q3 Earnings & Revenues Beat, Rise Y/Y TripAdvisor reported non-GAAP third-quarter 2023 earnings of 52 cents per share, beating the Zacks Consensus Estimate by 8.3%. Revenues of $533 million surged 16% year over year and surpassed the Zacks Consensus Estimate of $506 million. Click to get this free report TripAdvisor, Inc. (TRIP) : Free Stock Analysis Report Wayfair Inc. (W) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Revenues of $533 million surged 16% year over year and surpassed the Zacks Consensus Estimate of $506 million. Over the last 30 days, the Zacks Consensus Estimate has changed +2.8%. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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1e587fcc-94ad-46ea-9c3b-907b68048df8
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714541.0
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2023-12-06 00:00:00 UTC
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Why Is RingCentral (RNG) Up 6.9% Since Last Earnings Report?
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DCOMP
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https://www.nasdaq.com/articles/why-is-ringcentral-rng-up-6.9-since-last-earnings-report
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nan
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nan
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It has been about a month since the last earnings report for RingCentral (RNG). Shares have added about 6.9% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is RingCentral due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts.
RingCentral Q3 Earnings Top Estimates, Revenues Up Y/Y
RingCentral reported third-quarter 2023 non-GAAP earnings of 78 cents per share, which surpassed the Zacks Consensus Estimate by 2.63% and jumped 41.8% year over year.
Net revenues of $558.2 million comfortably beat the consensus mark of $554 million and increased 9.7% year over year.
Quarter Details
Software subscription (95.1% of total revenues) revenues increased 9.9% year over year to $531 million. Other revenues (4.9% of total revenues) increased 5.2% year over year to $27.1 million.
Annualized Exit Monthly Recurring Subscriptions (“ARR”) increased 11% year over year to $2.26 billion. Mid-market and Enterprise ARR increased 13% year over year to $1.41 billion.
Third-quarter 2023 non-GAAP gross margin expanded 90 basis points (bps) from the year-ago quarter to 78.1%.
On a non-GAAP basis, research & development expenses decreased 8.3% year over year to $55.7 million.
Sales and marketing expenses were up 4.3% to $230.1 million. General and administrative expenses rose 1.1% to $43.5 million in the reported quarter.
On a non-GAAP basis, operating income was $106.8 million, up 55.6% year over year. Non-GAAP operating margin expanded 570 bps from the year-ago quarter to 19.1%.
Balance Sheet
As of Sep 30, 2023, cash and cash equivalents were $432.4 million compared with $225.4 million as of Jun 30, 2023.
Cash flow from operations was $86.6 million in the third quarter compared with the second-quarter 2023 figure of $90.7 million.
Non-GAAP free cash flow was $86.7 million compared with $81 million reported in the previous quarter.
Guidance
For the fourth quarter of 2023, RingCentral expects revenues between $566.5 million and $573.5 million, indicating year-over-year growth of 8-9%.
Subscription revenues in the quarter are expected to be between $542 million and $548 million, indicating year-over-year growth of 8-9%.
The non-GAAP operating margin is expected to be 20% in the fourth quarter. Earnings are expected to be 82-83 cents per share.
For 2023, RingCentral maintains its revenue guidance to $2.198 billion and $2.205 billion, indicating year-over-year growth of 11%.
Subscription revenues for the year are expected to be between $2.095 billion and $2.101 billion, suggesting year-over-year growth of 11%.
The non-GAAP operating margin is expected to be 19% for 2023.
Earnings are expected to be between $3.19 and $3.20 per share.
How Have Estimates Been Moving Since Then?
It turns out, estimates review have trended upward during the past month.
The consensus estimate has shifted -149.09% due to these changes.
VGM Scores
Currently, RingCentral has a strong Growth Score of A, though it is lagging a lot on the Momentum Score front with an F. However, the stock was allocated a grade of C on the value side, putting it in the middle 20% for this investment strategy.
Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been broadly trending upward for the stock, and the magnitude of these revisions looks promising. Notably, RingCentral has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Performance of an Industry Player
RingCentral belongs to the Zacks Internet - Software and Services industry. Another stock from the same industry, VeriSign (VRSN), has gained 6.5% over the past month. More than a month has passed since the company reported results for the quarter ended September 2023.
VeriSign reported revenues of $376.3 million in the last reported quarter, representing a year-over-year change of +5.4%. EPS of $1.83 for the same period compares with $1.58 a year ago.
VeriSign is expected to post earnings of $1.83 per share for the current quarter, representing a year-over-year change of +7.7%. Over the last 30 days, the Zacks Consensus Estimate has changed +1.7%.
The overall direction and magnitude of estimate revisions translate into a Zacks Rank #2 (Buy) for VeriSign. Also, the stock has a VGM Score of B.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
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
Ringcentral, Inc. (RNG) : Free Stock Analysis Report
VeriSign, Inc. (VRSN) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Will the recent positive trend continue leading up to its next earnings release, or is RingCentral due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts. As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys."
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RingCentral Q3 Earnings Top Estimates, Revenues Up Y/Y RingCentral reported third-quarter 2023 non-GAAP earnings of 78 cents per share, which surpassed the Zacks Consensus Estimate by 2.63% and jumped 41.8% year over year. Guidance For the fourth quarter of 2023, RingCentral expects revenues between $566.5 million and $573.5 million, indicating year-over-year growth of 8-9%. Click to get this free report Ringcentral, Inc. (RNG) : Free Stock Analysis Report VeriSign, Inc. (VRSN) : Free Stock Analysis Report To read this article on Zacks.com click here.
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RingCentral Q3 Earnings Top Estimates, Revenues Up Y/Y RingCentral reported third-quarter 2023 non-GAAP earnings of 78 cents per share, which surpassed the Zacks Consensus Estimate by 2.63% and jumped 41.8% year over year. Guidance For the fourth quarter of 2023, RingCentral expects revenues between $566.5 million and $573.5 million, indicating year-over-year growth of 8-9%. Click to get this free report Ringcentral, Inc. (RNG) : Free Stock Analysis Report VeriSign, Inc. (VRSN) : Free Stock Analysis Report To read this article on Zacks.com click here.
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It has been about a month since the last earnings report for RingCentral (RNG). RingCentral Q3 Earnings Top Estimates, Revenues Up Y/Y RingCentral reported third-quarter 2023 non-GAAP earnings of 78 cents per share, which surpassed the Zacks Consensus Estimate by 2.63% and jumped 41.8% year over year. Subscription revenues in the quarter are expected to be between $542 million and $548 million, indicating year-over-year growth of 8-9%.
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714542.0
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2023-12-06 00:00:00 UTC
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Diamondback (FANG) Down 5.4% Since Last Earnings Report: Can It Rebound?
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https://www.nasdaq.com/articles/diamondback-fang-down-5.4-since-last-earnings-report%3A-can-it-rebound
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It has been about a month since the last earnings report for Diamondback Energy (FANG). Shares have lost about 5.4% in that time frame, underperforming the S&P 500.
Will the recent negative trend continue leading up to its next earnings release, or is Diamondback due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts.
Diamondback Q3 Earnings Miss Estimates on Strong Production
Diamondback Energy reported third-quarter 2023 adjusted earnings per share of $5.49, beating the Zacks Consensus Estimate of $4.90. The outperformance primarily reflects strong production and lower costs.
However, the bottom line declined from the year-ago adjusted figure of $6.48 due to a significant drop in overall realization.
Meanwhile, revenues of $2.3 billion fell 4% from the year-ago quarter’s sales but outperformed the Zacks Consensus Estimate by $163 million.
In good news for investors, the company is using the excess cash to reward them with dividends and buybacks. As part of that, FANG’s board of directors declared a quarterly cash dividend of 84 cents per share to its common shareholders of record on Nov 16. The payout will be made on Nov 24. In addition to the regular dividend, FANG declared a special dividend of $2.53 per share.
The company also executed $56 million of share repurchases during the third quarter of 2023 at $136.59 apiece.
Production & Realized Prices
FANG’s production of oil and natural gas averaged 452,848 barrels of oil equivalent per day (BOE/d), comprising 59% oil. The figure was up 15.9% from the year-ago quarter and surpassed our estimate of 442,803 BOE/d. While crude and natural gas output increased 18.6% and 7.9% year over year, respectively, natural gas liquids volumes rose 16.6% from the third quarter of 2022.
The average realized oil price during the most recent quarter was $81.57 per barrel, 9.2% lower than the year-ago realization of $89.79 but ahead of our projection of $71.62. Meanwhile, the average realized natural gas price plunged to $1.62 per thousand cubic feet (Mcf) from $6.46 in the year-ago period, though it came ahead of our estimate of $1.49. Overall, the company fetched $54.37 per barrel compared with $67.25 a year ago.
Costs & Financial Position
Diamondback’s third-quarter cash operating cost was $10.51 per barrel of oil equivalent (BOE) compared to $11.97 in the prior-year quarter and our projection of $11.50. The cutback in costs came even though lease operating expenses rose to $5.42 per BOE from $5.09 in the third quarter of 2022. FANG’s production taxes decreased 34.8% year over year to $2.83 per BOE, while gathering and transportation expenses moved down in the third quarter of 2023 to $1.75 per BOE from $1.98 during the corresponding period of 2022.
Diamondback spent $684 million in capital expenditure — $611 million on drilling and completion, $34 million on infrastructure, environment and $39 million on midstream. The company booked $820 million in free cash flows in the third quarter.
As of Sep 30, the Permian-focused operator had approximately $830 million in cash and cash equivalents, and $6.2 billion in long-term debt, representing a debt-to-capitalization of 26.8%.
Guidance
In 2023, FANG said it looks to pump around 447,000 BOE/d of hydrocarbon, up from the prior outlook of 435,000-445,000 BOE/d. Of this, oil volumes are likely to be around 263,000 barrels per day. The company forecast a capital spending budget between $2.66 billion and $2.7 billion.
How Have Estimates Been Moving Since Then?
In the past month, investors have witnessed an upward trend in estimates review.
VGM Scores
Currently, Diamondback has an average Growth Score of C, a grade with the same score on the momentum front. Charting a somewhat similar path, the stock was allocated a grade of B on the value side, putting it in the second quintile for this investment strategy.
Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been broadly trending upward for the stock, and the magnitude of these revisions looks promising. Notably, Diamondback has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Performance of an Industry Player
Diamondback is part of the Zacks Oil and Gas - Exploration and Production - United States industry. Over the past month, Gulfport Energy (GPOR), a stock from the same industry, has gained 9.1%. The company reported its results for the quarter ended September 2023 more than a month ago.
Gulfport reported revenues of $266.67 million in the last reported quarter, representing a year-over-year change of +39.5%. EPS of -$1.30 for the same period compares with $3.69 a year ago.
Gulfport is expected to post earnings of $4.91 per share for the current quarter, representing a year-over-year change of +54.4%. Over the last 30 days, the Zacks Consensus Estimate has changed -1.3%.
Gulfport has a Zacks Rank #3 (Hold) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of C.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
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
Diamondback Energy, Inc. (FANG) : Free Stock Analysis Report
Gulfport Energy Corporation (GPOR) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts. As part of that, FANG’s board of directors declared a quarterly cash dividend of 84 cents per share to its common shareholders of record on Nov 16. Meanwhile, the average realized natural gas price plunged to $1.62 per thousand cubic feet (Mcf) from $6.46 in the year-ago period, though it came ahead of our estimate of $1.49.
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Diamondback Q3 Earnings Miss Estimates on Strong Production Diamondback Energy reported third-quarter 2023 adjusted earnings per share of $5.49, beating the Zacks Consensus Estimate of $4.90. Production & Realized Prices FANG’s production of oil and natural gas averaged 452,848 barrels of oil equivalent per day (BOE/d), comprising 59% oil. Click to get this free report Diamondback Energy, Inc. (FANG) : Free Stock Analysis Report Gulfport Energy Corporation (GPOR) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Diamondback Q3 Earnings Miss Estimates on Strong Production Diamondback Energy reported third-quarter 2023 adjusted earnings per share of $5.49, beating the Zacks Consensus Estimate of $4.90. Production & Realized Prices FANG’s production of oil and natural gas averaged 452,848 barrels of oil equivalent per day (BOE/d), comprising 59% oil. Click to get this free report Diamondback Energy, Inc. (FANG) : Free Stock Analysis Report Gulfport Energy Corporation (GPOR) : Free Stock Analysis Report To read this article on Zacks.com click here.
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It has been about a month since the last earnings report for Diamondback Energy (FANG). Diamondback Q3 Earnings Miss Estimates on Strong Production Diamondback Energy reported third-quarter 2023 adjusted earnings per share of $5.49, beating the Zacks Consensus Estimate of $4.90. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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527e5ff4-171c-4b9c-9e02-1cad97366855
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714543.0
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2023-12-06 00:00:00 UTC
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Notable Wednesday Option Activity: CMG, BA, COST
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https://www.nasdaq.com/articles/notable-wednesday-option-activity%3A-cmg-ba-cost
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Among the underlying components of the S&P 500 index, we saw noteworthy options trading volume today in Chipotle Mexican Grill Inc (Symbol: CMG), where a total of 3,151 contracts have traded so far, representing approximately 315,100 underlying shares. That amounts to about 166.1% of CMG's average daily trading volume over the past month of 189,690 shares. Particularly high volume was seen for the $2000 strike put option expiring December 22, 2023, with 101 contracts trading so far today, representing approximately 10,100 underlying shares of CMG. Below is a chart showing CMG's trailing twelve month trading history, with the $2000 strike highlighted in orange:
Boeing Co. (Symbol: BA) saw options trading volume of 88,954 contracts, representing approximately 8.9 million underlying shares or approximately 153.1% of BA's average daily trading volume over the past month, of 5.8 million shares. Especially high volume was seen for the $240 strike call option expiring December 08, 2023, with 12,194 contracts trading so far today, representing approximately 1.2 million underlying shares of BA. Below is a chart showing BA's trailing twelve month trading history, with the $240 strike highlighted in orange:
And Costco Wholesale Corp (Symbol: COST) saw options trading volume of 19,409 contracts, representing approximately 1.9 million underlying shares or approximately 119.6% of COST's average daily trading volume over the past month, of 1.6 million shares. Particularly high volume was seen for the $610 strike call option expiring December 08, 2023, with 1,193 contracts trading so far today, representing approximately 119,300 underlying shares of COST. Below is a chart showing COST's trailing twelve month trading history, with the $610 strike highlighted in orange:
For the various different available expirations for CMG options, BA options, or COST options, visit StockOptionsChannel.com.
Today's Most Active Call & Put Options of the S&P 500 »
Also see:
Dividend Channel
WELL market cap history
MFIC Next Dividend Date
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Particularly high volume was seen for the $2000 strike put option expiring December 22, 2023, with 101 contracts trading so far today, representing approximately 10,100 underlying shares of CMG. Especially high volume was seen for the $240 strike call option expiring December 08, 2023, with 12,194 contracts trading so far today, representing approximately 1.2 million underlying shares of BA. Particularly high volume was seen for the $610 strike call option expiring December 08, 2023, with 1,193 contracts trading so far today, representing approximately 119,300 underlying shares of COST.
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Below is a chart showing CMG's trailing twelve month trading history, with the $2000 strike highlighted in orange: Boeing Co. (Symbol: BA) saw options trading volume of 88,954 contracts, representing approximately 8.9 million underlying shares or approximately 153.1% of BA's average daily trading volume over the past month, of 5.8 million shares. Especially high volume was seen for the $240 strike call option expiring December 08, 2023, with 12,194 contracts trading so far today, representing approximately 1.2 million underlying shares of BA. Below is a chart showing BA's trailing twelve month trading history, with the $240 strike highlighted in orange: And Costco Wholesale Corp (Symbol: COST) saw options trading volume of 19,409 contracts, representing approximately 1.9 million underlying shares or approximately 119.6% of COST's average daily trading volume over the past month, of 1.6 million shares.
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Among the underlying components of the S&P 500 index, we saw noteworthy options trading volume today in Chipotle Mexican Grill Inc (Symbol: CMG), where a total of 3,151 contracts have traded so far, representing approximately 315,100 underlying shares. Below is a chart showing CMG's trailing twelve month trading history, with the $2000 strike highlighted in orange: Boeing Co. (Symbol: BA) saw options trading volume of 88,954 contracts, representing approximately 8.9 million underlying shares or approximately 153.1% of BA's average daily trading volume over the past month, of 5.8 million shares. Below is a chart showing BA's trailing twelve month trading history, with the $240 strike highlighted in orange: And Costco Wholesale Corp (Symbol: COST) saw options trading volume of 19,409 contracts, representing approximately 1.9 million underlying shares or approximately 119.6% of COST's average daily trading volume over the past month, of 1.6 million shares.
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Below is a chart showing CMG's trailing twelve month trading history, with the $2000 strike highlighted in orange: Boeing Co. (Symbol: BA) saw options trading volume of 88,954 contracts, representing approximately 8.9 million underlying shares or approximately 153.1% of BA's average daily trading volume over the past month, of 5.8 million shares. Especially high volume was seen for the $240 strike call option expiring December 08, 2023, with 12,194 contracts trading so far today, representing approximately 1.2 million underlying shares of BA. Below is a chart showing BA's trailing twelve month trading history, with the $240 strike highlighted in orange: And Costco Wholesale Corp (Symbol: COST) saw options trading volume of 19,409 contracts, representing approximately 1.9 million underlying shares or approximately 119.6% of COST's average daily trading volume over the past month, of 1.6 million shares.
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91d274ed-2438-4466-a115-144d96b5cd60
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2023-12-06 00:00:00 UTC
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EXPLAINER-What are the EU's landmark AI rules?
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https://www.nasdaq.com/articles/explainer-what-are-the-eus-landmark-ai-rules
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By Martin Coulter
LONDON, Dec 6 (Reuters) - Negotiations around the European Union's first-of-a-kind rules governing artificial intelligence (AI) looked set for a dramatic climax on Wednesday, as lawmakers enter what some hope will be the final round of discussions on the landmark legislation.
What is decided could become the blueprint for other governments as countries seek to craft rules for their own AI industry.
Ahead of the meeting, lawmakers and governments could not agree on key issues, including the regulation of fast-growing generative AI and its use by law enforcement.
Here's what we know:
HOW DID CHATGPT DERAIL THE AI ACT?
The main issue is that the first draft of the law was written in early 2021, almost two years before the launch of OpenAI's ChatGPT, one of the fastest-growing software applications in history.
Lawmakers have scrambled to write regulations even as companies like Microsoft MSFT.O-based OpenAI continue to discover new uses for their technology.
OpenAI's founder Sam Altman and computer scientists have also raised the alarm about the danger of creating powerful, high intelligent machines which could threaten humanity.
Back in 2021, lawmakers focused on specific use-cases, regulating AI tools based on the task they had been designed to perform and categorised them by risk from minimal to high.
Using AI in a number of settings – like aviation, education, and biometric surveillance – was deemed high risk, either as an extension of existing product safety laws, or because they posed a potential human rights threat.
The arrival of ChatGPT in November 2022 forced lawmakers to rethink that.
This so-called "General Purpose AI System" (GPAIS) had not been built with a single use-case in mind, but rather completes all kinds of tasks: engaging in humanlike conversation, composing sonnets, and even writing computer code.
ChatGPT and other generative AI tools did not clearly fit into the act's original categories of risk, prompting an ongoing row over how they should be regulated.
WHAT ARE THE PROPOSALS?
General purpose AI systems, also known as foundation models, can be built "on top of" by developers to create new applications.
Researchers have sometimes been caught off-guard by AI's behaviour -- like ChatGPT's habit of "hallucinating" false answers, where the underlying model is trained to best predict strings of sentences, but sometimes produces answers that sound convincing, but are in fact false, -- and any underlying quirks buried in a foundation model's code could play out in unexpected ways when deployed in different contexts.
EU proposals for regulating foundation models have included forcing companies to clearly document their system's training data and capabilities, demonstrate they have taken steps to mitigate potential risks, and undergo audits conducted by external researchers.
In recent weeks, France, Germany and Italy – the EU's most influential countries - have challenged that.
The three nations want makers of generative AI models to be allowed to self-regulate, instead of forcing them to comply with hard rules.
They say strict regulations will limit European companies' ability to compete with dominant U.S. companies like Google GOOGL.O and Microsoft MSFT.O.
Smaller companies building tools on top of OpenAI code would also face stricter rules, while the providers like OpenAI would not.
WHAT IS AT ISSUE WITH LAW ENFORCEMENT?
Lawmakers are also divided over the use of AI systems by law enforcement agencies for biometric identification of individuals in publicly accessible spaces, sources told Reuters.
EU lawmakers want regulation to protect citizens' fundamental rights, but member states want some flexibility for the technology to be used in the interests of national security, by police or border protection agencies, for example.
MEPs may drop a proposed ban on remote biometric identification, one source said, if exemptions for its use were limited and clearly-defined.
WHAT IS THE LIKELY OUTCOME?
If a final text is agreed on Wednesday, the EU Parliament could theoretically vote the bill into law later this month. Even then, it could be close to two years before it comes into effect.
Without a final agreement, however, EU lawmakers and governments may instead reach a "provisional agreement", with the specifics hammered out in weeks of technical meetings. That risks reigniting longstanding disagreements.
They would still have to get a deal ready for a vote in spring. Without that, the law risks being shelved until after Parliamentary elections in June and the 27-member bloc would lose its first-mover advantage in regulating the technology.
(Reporting by Martin Coulter Editing by Josephine Mason and David Evans)
((martin.coulter@thomsonreuters.com; Follow me on Twitter @martinjbcoulter; +447436546182;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By Martin Coulter LONDON, Dec 6 (Reuters) - Negotiations around the European Union's first-of-a-kind rules governing artificial intelligence (AI) looked set for a dramatic climax on Wednesday, as lawmakers enter what some hope will be the final round of discussions on the landmark legislation. This so-called "General Purpose AI System" (GPAIS) had not been built with a single use-case in mind, but rather completes all kinds of tasks: engaging in humanlike conversation, composing sonnets, and even writing computer code. EU proposals for regulating foundation models have included forcing companies to clearly document their system's training data and capabilities, demonstrate they have taken steps to mitigate potential risks, and undergo audits conducted by external researchers.
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Ahead of the meeting, lawmakers and governments could not agree on key issues, including the regulation of fast-growing generative AI and its use by law enforcement. EU proposals for regulating foundation models have included forcing companies to clearly document their system's training data and capabilities, demonstrate they have taken steps to mitigate potential risks, and undergo audits conducted by external researchers. Lawmakers are also divided over the use of AI systems by law enforcement agencies for biometric identification of individuals in publicly accessible spaces, sources told Reuters.
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By Martin Coulter LONDON, Dec 6 (Reuters) - Negotiations around the European Union's first-of-a-kind rules governing artificial intelligence (AI) looked set for a dramatic climax on Wednesday, as lawmakers enter what some hope will be the final round of discussions on the landmark legislation. Ahead of the meeting, lawmakers and governments could not agree on key issues, including the regulation of fast-growing generative AI and its use by law enforcement. EU proposals for regulating foundation models have included forcing companies to clearly document their system's training data and capabilities, demonstrate they have taken steps to mitigate potential risks, and undergo audits conducted by external researchers.
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Ahead of the meeting, lawmakers and governments could not agree on key issues, including the regulation of fast-growing generative AI and its use by law enforcement. Lawmakers have scrambled to write regulations even as companies like Microsoft MSFT.O-based OpenAI continue to discover new uses for their technology. Back in 2021, lawmakers focused on specific use-cases, regulating AI tools based on the task they had been designed to perform and categorised them by risk from minimal to high.
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f0b65312-04c0-466f-89d0-5efd80439b62
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714545.0
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2023-12-06 00:00:00 UTC
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J&J (JNJ) Announces 2024 and Long-Term Financial Outlook
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https://www.nasdaq.com/articles/jj-jnj-announces-2024-and-long-term-financial-outlook
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Johnson & Johnson JNJ announced sales and earnings growth expectations for 2024 and the 2025-2030 period.
2024 will be the first full year for J&J after it spun off its Consumer Health segment into a newly listed company called Kenvue KVUE. With the complete separation of the Consumer Health segment, J&J has now become a two-sector company focused on the Pharmaceutical and MedTech fields. Kenvue operates as a separate and fully independent company.
Sales Guidance
In 2024, J&J expects operational sales growth in the range of 5-6%, driven by both its Innovative Medicine and MedTech segments. In 2025, operational sales are expected to grow around 3% due to the expected launch of biosimilar versions of its blockbuster immunology drug, Stelara, in the year. Stelara recorded sales of more than $8 billion in the first nine months of 2023.
J&J expects sales to pick up thereafter, expecting a compound annual growth rate (CAGR) of 5-7% for the 2025-2030 period.
Earnings Guidance
Adjusted earnings are expected in the range of $10.55-$10.75 per share in 2024, which represents operational growth of 7.3% at the mid-point. The Zacks Consensus Estimate was pegged at $10.79 per share.
The 2024 guidance reflects a 15 cents dilutive impact of the acquisition of Laminar. In November, J&J completed the acquisition of Laminar, a private medical device company focused on eliminating the left atrial appendage in patients with non-valvular atrial fibrillation.
J&J’s stock has declined 10.3% so far this year against an increase of 5.4% for the industry.
Image Source: Zacks Investment Research
Outlook for Innovative Medicine Unit
J&J’s Innovative Medicines segment is performing above market levels despite currency headwinds and the impact of biosimilar and generic competition on sales of some key drugs like Remicade and Zytiga. In the first nine months of 2023, sales rose 4.4% on an organic basis. Growth in 2023 is being driven by existing products like Darzalex, Tremfya, Erleada, Invega Sustenna and Uptravi, and also continued uptake of new launches, including Spravato, Carvykti and Tecvayli. The positive trend is expected to continue in 2024.
In its Innovative Medicine unit, J&J expects operational sales to witness a CAGR of 5-7% for the 2025-2030 period. It believes 10 of its products have the potential to deliver peak non-risk adjusted operational sales of $5 billion, including new cancer drugs like Talvey and Tecvayli and pipeline candidate JNJ-2113 for moderate-to-severe plaque psoriasis.
As regards its pipeline, J&J expects to launch 20 new drugs and more than 50 line extensions of approved medicines by 2030.
Outlook for MedTech Unit
In the MedTech segment, operational sales are expected to grow in the upper range of its market, which is projected to grow 5-7% through 2027. One-third of its sales are expected to come from new products through 2027.
Though sales in the MedTech segment were hurt due to a decline in elective surgical procedures in the pandemic years, sales have been improving since 2022 due to recovery in surgical procedures and the segment’s enhanced competitiveness from new product launches.
Zacks Rank & Stocks to Consider
J&J currently has a Zacks Rank #3 (Hold).
Johnson & Johnson Price and Consensus
Johnson & Johnson price-consensus-chart | Johnson & Johnson Quote
Some better-ranked drug/biotech companies worth considering are Novo Nordisk NVO and Puma Biotech PBYI, each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Estimates for Novo Nordisk’s 2023 earnings per share have increased from $2.51 to $2.62 over the past 60 days. Estimates for 2024 have jumped from $2.95 per share to $3.07 over the same timeframe. NVO’s stock has surged 47.2% year to date.
Earnings of Novo Nordisk beat estimates in two of the last four quarters, missed in one and matched estimates in one, delivering an earnings surprise of 0.58% on average.
Estimates for Puma Biotech’s 2023 earnings per share have increased from 67 cents to 72 cents over the past 60 days. Estimates for 2024 have jumped from 55 cents per share to 64 cents over the same timeframe. PBYI’s stock has declined 12.1% year to date.
Earnings of Puma Biotech beat estimates in three of the last four quarters, missed in one, delivering an earnings surprise of 76.55% on average.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
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
Johnson & Johnson (JNJ) : Free Stock Analysis Report
Novo Nordisk A/S (NVO) : Free Stock Analysis Report
Puma Biotechnology, Inc. (PBYI) : Free Stock Analysis Report
Kenvue Inc. (KVUE) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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2024 will be the first full year for J&J after it spun off its Consumer Health segment into a newly listed company called Kenvue KVUE. Growth in 2023 is being driven by existing products like Darzalex, Tremfya, Erleada, Invega Sustenna and Uptravi, and also continued uptake of new launches, including Spravato, Carvykti and Tecvayli. It believes 10 of its products have the potential to deliver peak non-risk adjusted operational sales of $5 billion, including new cancer drugs like Talvey and Tecvayli and pipeline candidate JNJ-2113 for moderate-to-severe plaque psoriasis.
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Image Source: Zacks Investment Research Outlook for Innovative Medicine Unit J&J’s Innovative Medicines segment is performing above market levels despite currency headwinds and the impact of biosimilar and generic competition on sales of some key drugs like Remicade and Zytiga. Johnson & Johnson Price and Consensus Johnson & Johnson price-consensus-chart | Johnson & Johnson Quote Some better-ranked drug/biotech companies worth considering are Novo Nordisk NVO and Puma Biotech PBYI, each sporting a Zacks Rank #1 (Strong Buy) at present. Click to get this free report Johnson & Johnson (JNJ) : Free Stock Analysis Report Novo Nordisk A/S (NVO) : Free Stock Analysis Report Puma Biotechnology, Inc. (PBYI) : Free Stock Analysis Report Kenvue Inc. (KVUE) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Sales Guidance In 2024, J&J expects operational sales growth in the range of 5-6%, driven by both its Innovative Medicine and MedTech segments. Johnson & Johnson Price and Consensus Johnson & Johnson price-consensus-chart | Johnson & Johnson Quote Some better-ranked drug/biotech companies worth considering are Novo Nordisk NVO and Puma Biotech PBYI, each sporting a Zacks Rank #1 (Strong Buy) at present. Click to get this free report Johnson & Johnson (JNJ) : Free Stock Analysis Report Novo Nordisk A/S (NVO) : Free Stock Analysis Report Puma Biotechnology, Inc. (PBYI) : Free Stock Analysis Report Kenvue Inc. (KVUE) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Sales Guidance In 2024, J&J expects operational sales growth in the range of 5-6%, driven by both its Innovative Medicine and MedTech segments. Estimates for Puma Biotech’s 2023 earnings per share have increased from 67 cents to 72 cents over the past 60 days. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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714546.0
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2023-12-06 00:00:00 UTC
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Why Is Medifast (MED) Down 1.1% Since Last Earnings Report?
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https://www.nasdaq.com/articles/why-is-medifast-med-down-1.1-since-last-earnings-report
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A month has gone by since the last earnings report for Medifast (MED). Shares have lost about 1.1% in that time frame, underperforming the S&P 500.
Will the recent negative trend continue leading up to its next earnings release, or is Medifast due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers.
Medifast Q3 Earnings Top Estimates, Revenues Decline Y/Y
Medifast delivered third-quarter 2023 results, with the top and bottom lines declining year over year. However, earnings and net revenues beat the Zacks Consensus Estimate.
Medifast is encountering difficulties in attracting customers, primarily because of a range of macroeconomic elements, such as a rapidly changing economy, inflation, shifts in social media algorithms and fierce competition. Nonetheless, the company's leadership is actively implementing the "Fuel for the Future" strategy, which comprises essential efforts designed to improve efficiency and reduce costs.
Medifast’s adjusted earnings were $2.12 per share in the third quarter of 2023, down from the $3.27 reported in the year-ago quarter. The metric surpassed the Zacks Consensus Estimate of $1.02 per share.
Net revenues of $235.9 million declined 39.6% year over year mainly due to lesser active earning OPTAVIA Coaches and lesser productivity per active earning OPTAVIA Coach. The average revenue per active earning OPTAVIA Coach stood at $5,008, down 15.1% from $5,897 million, thanks to persistent pressure on customer acquisition. This was somewhat offset by the price increase undertaken in November 2022. The total number of active earning OPTAVIA Coaches fell 28.9% to 47,100 compared with the 66,200 reported in the year-ago quarter. The top line surpassed the Zacks Consensus estimate of $225 million.
The gross profit came in at $177.4 million, down 37.3% year over year on reduced revenues. The gross profit margin was 75.2%, up from the 72.5% reported in the prior-year quarter. Efficiencies in inventory management and reduced supply-chain costs, along with the optimization of the company's distribution center footprint, had a positive effect on the rise in gross margin. We had expected the gross profit margin to come in at 68.3% in the third quarter of 2023.
Selling, general and administrative expenses (SG&A) fell 35.3% year over year to $151.9 million. The decrease in SG&A expenses was primarily attributed to several factors, including reduced Coach compensation due to lower sales volumes and fewer active earning Coaches, as well as the progress made in various cost reduction and optimization initiatives. Additionally, charitable donations made in 2022 contributed to the decrease.
As a percentage of revenues, SG&A expenses increased 430 basis points (bps) to 64.4% primarily due to the lack of leverage on fixed costs resulting from lower sales volumes in comparison to 2022. It also included expenses related to market research and investments in medically-supported weight loss activities in the third quarter of 2023. We had expected SG&A expenses, as a percentage of revenues, to be 60.4% in the third quarter.
The income from operations declined 47% to $25.5 million mainly due to a decrease in gross profit. However, this was partially mitigated by reduced SG&A expenses and supported by the cost reduction efforts associated with the "Fuel for the Future" program. The operating margin decreased to 10.8% from the 12.3% reported in the year-ago quarter. We had expected the metric to come in at 8% in the third quarter.
Medifast concluded the quarter with cash and cash equivalents of $112.8 million, no interest-bearing debt (as of Sep 30, 2023), and total shareholders’ equity of approximately $193 million.
The company declared a quarterly cash dividend of $1.65 per share, payable on Nov 7, 2023, to shareholders of record as of Sep 19.
Guidance
Management expects revenues of $1,050-$1,070 million for 2023. The company expects earnings per share (EPS) of $8.65-$9.55 for 2023. MED assumes the effective tax rate between 20.5% and 21.5% for 2023.
How Have Estimates Been Moving Since Then?
It turns out, estimates review have trended downward during the past month.
The consensus estimate has shifted -45.83% due to these changes.
VGM Scores
Currently, Medifast has a great Growth Score of A, though it is lagging a bit on the Momentum Score front with a B. Charting a somewhat similar path, the stock was allocated a grade of A on the value side, putting it in the top quintile for this investment strategy.
Overall, the stock has an aggregate VGM Score of A. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been broadly trending downward for the stock, and the magnitude of this revision indicates a downward shift. Notably, Medifast has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Performance of an Industry Player
Medifast is part of the Zacks Food - Miscellaneous industry. Over the past month, Mondelez (MDLZ), a stock from the same industry, has gained 3.2%. The company reported its results for the quarter ended September 2023 more than a month ago.
Mondelez reported revenues of $9.03 billion in the last reported quarter, representing a year-over-year change of +16.3%. EPS of $0.82 for the same period compares with $0.74 a year ago.
Mondelez is expected to post earnings of $0.76 per share for the current quarter, representing a year-over-year change of +4.1%. Over the last 30 days, the Zacks Consensus Estimate has changed -1.2%.
Mondelez has a Zacks Rank #3 (Hold) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of D.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
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
MEDIFAST INC (MED) : Free Stock Analysis Report
Mondelez International, Inc. (MDLZ) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Medifast is encountering difficulties in attracting customers, primarily because of a range of macroeconomic elements, such as a rapidly changing economy, inflation, shifts in social media algorithms and fierce competition. Nonetheless, the company's leadership is actively implementing the "Fuel for the Future" strategy, which comprises essential efforts designed to improve efficiency and reduce costs. As a percentage of revenues, SG&A expenses increased 430 basis points (bps) to 64.4% primarily due to the lack of leverage on fixed costs resulting from lower sales volumes in comparison to 2022.
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Medifast Q3 Earnings Top Estimates, Revenues Decline Y/Y Medifast delivered third-quarter 2023 results, with the top and bottom lines declining year over year. Net revenues of $235.9 million declined 39.6% year over year mainly due to lesser active earning OPTAVIA Coaches and lesser productivity per active earning OPTAVIA Coach. Click to get this free report MEDIFAST INC (MED) : Free Stock Analysis Report Mondelez International, Inc. (MDLZ) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Medifast Q3 Earnings Top Estimates, Revenues Decline Y/Y Medifast delivered third-quarter 2023 results, with the top and bottom lines declining year over year. Net revenues of $235.9 million declined 39.6% year over year mainly due to lesser active earning OPTAVIA Coaches and lesser productivity per active earning OPTAVIA Coach. Click to get this free report MEDIFAST INC (MED) : Free Stock Analysis Report Mondelez International, Inc. (MDLZ) : Free Stock Analysis Report To read this article on Zacks.com click here.
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A month has gone by since the last earnings report for Medifast (MED). Medifast’s adjusted earnings were $2.12 per share in the third quarter of 2023, down from the $3.27 reported in the year-ago quarter. The consensus estimate has shifted -45.83% due to these changes.
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574a5349-c8e5-4b20-8d70-e53151235141
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714547.0
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2023-12-06 00:00:00 UTC
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Why Is Vertex (VRTX) Down 6.4% Since Last Earnings Report?
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DCOMP
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https://www.nasdaq.com/articles/why-is-vertex-vrtx-down-6.4-since-last-earnings-report
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nan
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nan
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It has been about a month since the last earnings report for Vertex Pharmaceuticals (VRTX). Shares have lost about 6.4% in that time frame, underperforming the S&P 500.
Will the recent negative trend continue leading up to its next earnings release, or is Vertex due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers.
Q3 Earnings & Sales Beat
Vertex reported adjusted earnings per share (EPS) of $4.08 in third-quarter 2023, beating the Zacks Consensus Estimate of $3.92. The adjusted EPS rose 10.6% year over year, driven by strong growth in product revenues. The upside was partially offset by higher research and development (R&D) expenses incurred during the quarter.
The company reported total revenues of $2.48 billion, comprising cystic fibrosis (CF) product revenues. The figure marginally missed the Zacks Consensus Estimate of $2.49 billion. However, total revenues rose 6.4% year over year, primarily driven by higher sales of Trikafta/Kaftrio (marketed as Kaftrio in Europe) in the U.S. and ex-U.S. markets.
CF product sales rose 7% year over year in the United States to $1.55 billion. Outside the United States, sales increased 6% to $929 million, driven by the continued strong uptake of Trikafta/Kaftrio in markets with recently achieved reimbursement as well expanded use in younger age groups.
Trikafta generated sales worth $2.27 billion, up 13.1% year over year. Trikafta sales beat the Zacks Consensus Estimate and our model estimate of $2.26 billion and $2.2 billion, respectively.
The upside was driven by the continued robust performance of Trikafta in the United States, fueled by label expansions to younger age groups (two to five years old). In the ex-U.S. markets, the drug continues to witness strong uptake with recently achieved reimbursements and expanded use in young age groups.
Sales from other CF products, namely Symdeko/Symkevi, Kalydeco and Orkambi, were down 35.4% year over year to $209.2 million. Sales of these drugs were hurt by patients switching to Trikafta.
Symdeko/Symkevi registered sales of $33.4 million in the quarter, down 12.6% year over year.
Kalydeco recorded sales of $112.8 million in the quarter, down 19% year over year. Orkambi generated sales of $63.0 million in the reported quarter, down 56.9% from the prior-year quarter.
Costs Rise
Adjusted operating expense was $993.0 million in the quarter, up 31% year over year, driven by higher R&D costs.
Adjusted R&D expenses rose 32.4% from the year-ago quarter’s levels to $726 million due to the expansion of the company’s mid- and late-stage pipeline.
Adjusted selling, general and administrative (SG&A) expenses increased 19.6% to $215.7 million in the reported quarter due to expenses for CF launches and pre-commercial activities for exa-cel.
During the reported quarter, Vertex recorded Acquired IPR&D costs of $51.7 million compared with $29 million in the year-ago quarter.
Adjusted operating income was $1.17 billion in the quarter, down 9% from the prior-year period.
2023 Guidance
Based on the solid uptake of Trikafta/Kaftrio worldwide, Vertex raised its 2023 CF product revenue guidance. Management expects total revenues from CF products to be approximately $9.85 billion compared with the prior expectation of $9.7-$9.8 billion.
The company has, however, maintained its guidance for full-year 2023 adjusted combined R&D, Acquired IPR&D and SG&A expenses in the band of $4.1-$4.2 billion.
The adjusted tax rate is expected in the range of 20-21%, lower than the previously expected band of 21-22%.
Currency headwinds are expected to have a negative impact of approximately 1.5% on revenue growth in 2023.
How Have Estimates Been Moving Since Then?
In the past month, investors have witnessed an upward trend in estimates revision.
The consensus estimate has shifted 13.22% due to these changes.
VGM Scores
Currently, Vertex has an average Growth Score of C, however its Momentum Score is doing a lot better with an A. However, the stock was allocated a grade of C on the value side, putting it in the middle 20% for this investment strategy.
Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been trending upward for the stock, and the magnitude of these revisions looks promising. Notably, Vertex has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Performance of an Industry Player
Vertex belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, GSK (GSK), has gained 3.9% over the past month. More than a month has passed since the company reported results for the quarter ended September 2023.
Glaxo reported revenues of $10.32 billion in the last reported quarter, representing a year-over-year change of +11.9%. EPS of $1.26 for the same period compares with $1.09 a year ago.
For the current quarter, Glaxo is expected to post earnings of $0.78 per share, indicating a change of +21.9% from the year-ago quarter. The Zacks Consensus Estimate has changed -7.6% over the last 30 days.
The overall direction and magnitude of estimate revisions translate into a Zacks Rank #2 (Buy) for Glaxo. Also, the stock has a VGM Score of C.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
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
Vertex Pharmaceuticals Incorporated (VRTX) : Free Stock Analysis Report
GSK PLC Sponsored ADR (GSK) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers. Outside the United States, sales increased 6% to $929 million, driven by the continued strong uptake of Trikafta/Kaftrio in markets with recently achieved reimbursement as well expanded use in younger age groups. The upside was driven by the continued robust performance of Trikafta in the United States, fueled by label expansions to younger age groups (two to five years old).
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Q3 Earnings & Sales Beat Vertex reported adjusted earnings per share (EPS) of $4.08 in third-quarter 2023, beating the Zacks Consensus Estimate of $3.92. Outside the United States, sales increased 6% to $929 million, driven by the continued strong uptake of Trikafta/Kaftrio in markets with recently achieved reimbursement as well expanded use in younger age groups. Click to get this free report Vertex Pharmaceuticals Incorporated (VRTX) : Free Stock Analysis Report GSK PLC Sponsored ADR (GSK) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Q3 Earnings & Sales Beat Vertex reported adjusted earnings per share (EPS) of $4.08 in third-quarter 2023, beating the Zacks Consensus Estimate of $3.92. Trikafta sales beat the Zacks Consensus Estimate and our model estimate of $2.26 billion and $2.2 billion, respectively. Click to get this free report Vertex Pharmaceuticals Incorporated (VRTX) : Free Stock Analysis Report GSK PLC Sponsored ADR (GSK) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Trikafta sales beat the Zacks Consensus Estimate and our model estimate of $2.26 billion and $2.2 billion, respectively. The overall direction and magnitude of estimate revisions translate into a Zacks Rank #2 (Buy) for Glaxo. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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1a21c022-7921-4078-b07a-b2bf3ec46246
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714548.0
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2023-12-06 00:00:00 UTC
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Why Is ADTRAN Holdings (ADTN) Up 12.1% Since Last Earnings Report?
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DCOMP
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https://www.nasdaq.com/articles/why-is-adtran-holdings-adtn-up-12.1-since-last-earnings-report
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nan
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nan
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A month has gone by since the last earnings report for ADTRAN Holdings (ADTN). Shares have added about 12.1% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is ADTRAN Holdings due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers.
ADTRAN's Q3 Earnings Miss Estimates on Lower Revenues
ADTRAN reported soft second-quarter 2023 results, wherein both the bottom line and the top line missed the respective Zacks Consensus Estimate owing to a challenging macroeconomic environment. However, revenues increased significantly on a year-over-year basis.
Net Income
On a GAAP basis, net loss in the June quarter was $33.3 million or a loss of 43 cents per share against net income of $2.1 million or 4 cents per share in the prior-year quarter. The year-over-year decline despite top-line growth and income tax benefit was primarily due to higher cost of revenues and operating expenses. Non-GAAP net loss was $0.08 million or breakeven, which missed the Zacks Consensus Estimate by a penny.
Revenues
Quarterly total revenues surged to $327.4 million from $172 million in the prior-year quarter, driven by the increasing demand for ADTRAN’s network solutions and fiber broadband products. The top line missed the consensus estimate of $330 million.
Revenues from Network Solutions in the reported quarter were $283 million compared with $156 million in the year-ago quarter, with incremental contribution from ADVA. ADTRAN completed the buyout of ADVA in July 2022. The company recorded healthy demand trends, driven by the accelerated expansion of fiber-to-the-home networks, upgrades to in-home Wi-Fi connectivity and the adoption of cloud-based automation tools. The top line was further buoyed by improved customer diversification and end-to-end fiber broadband solutions. Services and Support revenues were $44.4 million, up from $16 million.
Other Details
Total cost of sales increased from $109.5 million to $234.8 million. GAAP gross profit came in at $92.6 million compared with $62.5 million in the prior-year quarter. Operating loss in the quarter was $44.6 million against an operating income of $8.1 million in the year-ago quarter.
Cash Flow & Liquidity
In the first six months of 2023, ADTRAN used $36.2 million of cash for operating activities compared with a cash utilization of $5.9 million in the prior-year period. As of Jun 30, 2023, the company had $124.3 million in cash and cash equivalents with $44.6 million of deferred compensation liability.
Moving Forward
ADTRAN expects the second half of 2023 to remain challenging as customers continue to optimize their inventory levels amid uncertain business conditions. Nevertheless, management remains bullish about the long-term earnings growth prospects of the company.
How Have Estimates Been Moving Since Then?
In the past month, investors have witnessed a downward trend in fresh estimates.
The consensus estimate has shifted -27.78% due to these changes.
VGM Scores
At this time, ADTRAN Holdings has a poor Growth Score of F, a grade with the same score on the momentum front. Charting a somewhat similar path, the stock was allocated a grade of D on the value side, putting it in the bottom 40% for this investment strategy.
Overall, the stock has an aggregate VGM Score of F. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. It's no surprise ADTRAN Holdings has a Zacks Rank #4 (Sell). We expect a below average return from the stock in the next few months.
Performance of an Industry Player
ADTRAN Holdings is part of the Zacks Technology Services industry. Over the past month, Seagate (STX), a stock from the same industry, has gained 8.6%. The company reported its results for the quarter ended September 2023 more than a month ago.
Seagate reported revenues of $1.45 billion in the last reported quarter, representing a year-over-year change of -28.6%. EPS of -$0.22 for the same period compares with $0.48 a year ago.
For the current quarter, Seagate is expected to post a loss of $0.10 per share, indicating a change of -162.5% from the year-ago quarter. The Zacks Consensus Estimate has changed -3.5% over the last 30 days.
Seagate has a Zacks Rank #3 (Hold) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of C.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
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
ADTRAN Holdings, Inc. (ADTN) : Free Stock Analysis Report
Seagate Technology Holdings PLC (STX) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The year-over-year decline despite top-line growth and income tax benefit was primarily due to higher cost of revenues and operating expenses. The company recorded healthy demand trends, driven by the accelerated expansion of fiber-to-the-home networks, upgrades to in-home Wi-Fi connectivity and the adoption of cloud-based automation tools. Moving Forward ADTRAN expects the second half of 2023 to remain challenging as customers continue to optimize their inventory levels amid uncertain business conditions.
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Net Income On a GAAP basis, net loss in the June quarter was $33.3 million or a loss of 43 cents per share against net income of $2.1 million or 4 cents per share in the prior-year quarter. Revenues Quarterly total revenues surged to $327.4 million from $172 million in the prior-year quarter, driven by the increasing demand for ADTRAN’s network solutions and fiber broadband products. Click to get this free report ADTRAN Holdings, Inc. (ADTN) : Free Stock Analysis Report Seagate Technology Holdings PLC (STX) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Net Income On a GAAP basis, net loss in the June quarter was $33.3 million or a loss of 43 cents per share against net income of $2.1 million or 4 cents per share in the prior-year quarter. Revenues Quarterly total revenues surged to $327.4 million from $172 million in the prior-year quarter, driven by the increasing demand for ADTRAN’s network solutions and fiber broadband products. Click to get this free report ADTRAN Holdings, Inc. (ADTN) : Free Stock Analysis Report Seagate Technology Holdings PLC (STX) : Free Stock Analysis Report To read this article on Zacks.com click here.
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A month has gone by since the last earnings report for ADTRAN Holdings (ADTN). Revenues Quarterly total revenues surged to $327.4 million from $172 million in the prior-year quarter, driven by the increasing demand for ADTRAN’s network solutions and fiber broadband products. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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3f3f3455-2cfa-4a3f-b12c-cae8dc5f1469
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714549.0
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2023-12-06 00:00:00 UTC
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Why Is Realty Income Corp. (O) Up 8.3% Since Last Earnings Report?
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DCOMP
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https://www.nasdaq.com/articles/why-is-realty-income-corp.-o-up-8.3-since-last-earnings-report
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nan
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nan
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It has been about a month since the last earnings report for Realty Income Corp. (O). Shares have added about 8.3% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Realty Income Corp. due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts.
Realty Income Beats Q3 AFFO, Ups Acquisition Guidance
Realty Income's third-quarter 2023 AFFO per share of $1.02 beat the Zacks Consensus Estimate of $1.00. The reported figure also compared favorably with the prior-year quarter’s 98 cents.
Results displayed year-over-year growth in the top line. The retail REIT also raised its 2023 AFFO per share guidance and increased the 2023 acquisition volume projection to approximately $9 billion.
Total revenues were $1.04 billion, which met the Zacks Consensus Estimate. The top line rose 24.1% year over year.
Quarter in Detail
In the third quarter, same-store rental revenues of $716 million from 10,577 properties under lease witnessed a rise of 2.2% from the prior-year period.
The portfolio occupancy of 98.8% as of Sep 30, 2023, declined 20 basis points sequentially and 10 bps year over year. In the reported quarter, the company achieved a rent recapture rate of 106.9% on re-leasing activity.
O invested $2 billion in 289 properties and properties under development or expansion in the third quarter, .
Balance Sheet
Realty Income exited third-quarter 2023 with $4.5 billion of liquidity. This comprised cash and cash equivalents of $344.1 million and $3.4 billion of availability under its revolving credit facility after deducting $376.8 million in commercial paper borrowings.
Net debt to annualized pro-forma adjusted EBITDAre was 5.2X.
In the third quarter, the company raised $885.9 million from the sale of its common stock at a weighted average price of $58.58 per share, mainly through its At-The-Market program.
2023 Guidance
Realty Income revised its outlook for 2023.
Management projects 2023 AFFO per share of $3.98-$4.01.
Full-year projections assume same-store rent growth of approximately 1.5% and occupancy of more than 98%. O expects a full-year acquisition volume of approximately $9 billion.
How Have Estimates Been Moving Since Then?
It turns out, fresh estimates have trended upward during the past month.
VGM Scores
At this time, Realty Income Corp. has an average Growth Score of C, a grade with the same score on the momentum front. Charting a somewhat similar path, the stock was allocated a grade of D on the value side, putting it in the bottom 40% for this investment strategy.
Overall, the stock has an aggregate VGM Score of D. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been trending upward for the stock, and the magnitude of this revision has been net zero. Notably, Realty Income Corp. has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Performance of an Industry Player
Realty Income Corp. belongs to the Zacks REIT and Equity Trust - Retail industry. Another stock from the same industry, Federal Realty Investment Trust (FRT), has gained 7.2% over the past month. More than a month has passed since the company reported results for the quarter ended September 2023.
Federal Realty Investment Trust reported revenues of $286.6 million in the last reported quarter, representing a year-over-year change of +4.8%. EPS of $0.67 for the same period compares with $1.59 a year ago.
For the current quarter, Federal Realty Investment Trust is expected to post earnings of $1.64 per share, indicating a change of +3.8% from the year-ago quarter. The Zacks Consensus Estimate has changed -0.2% over the last 30 days.
The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for Federal Realty Investment Trust. Also, the stock has a VGM Score of D.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
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
Realty Income Corporation (O) : Free Stock Analysis Report
Federal Realty Investment Trust (FRT) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Will the recent positive trend continue leading up to its next earnings release, or is Realty Income Corp. due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts. In the third quarter, the company raised $885.9 million from the sale of its common stock at a weighted average price of $58.58 per share, mainly through its At-The-Market program.
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Realty Income Beats Q3 AFFO, Ups Acquisition Guidance Realty Income's third-quarter 2023 AFFO per share of $1.02 beat the Zacks Consensus Estimate of $1.00. Federal Realty Investment Trust reported revenues of $286.6 million in the last reported quarter, representing a year-over-year change of +4.8%. Click to get this free report Realty Income Corporation (O) : Free Stock Analysis Report Federal Realty Investment Trust (FRT) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Realty Income Beats Q3 AFFO, Ups Acquisition Guidance Realty Income's third-quarter 2023 AFFO per share of $1.02 beat the Zacks Consensus Estimate of $1.00. Federal Realty Investment Trust reported revenues of $286.6 million in the last reported quarter, representing a year-over-year change of +4.8%. Click to get this free report Realty Income Corporation (O) : Free Stock Analysis Report Federal Realty Investment Trust (FRT) : Free Stock Analysis Report To read this article on Zacks.com click here.
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It has been about a month since the last earnings report for Realty Income Corp. (O). Federal Realty Investment Trust reported revenues of $286.6 million in the last reported quarter, representing a year-over-year change of +4.8%. For the current quarter, Federal Realty Investment Trust is expected to post earnings of $1.64 per share, indicating a change of +3.8% from the year-ago quarter.
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34b9b936-5276-4dc7-aa20-491c5c75d4cb
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714550.0
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2023-12-06 00:00:00 UTC
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TreeHouse (THS) Up 6.9% Since Last Earnings Report: Can It Continue?
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DCOMP
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https://www.nasdaq.com/articles/treehouse-ths-up-6.9-since-last-earnings-report%3A-can-it-continue
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nan
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nan
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A month has gone by since the last earnings report for TreeHouse Foods (THS). Shares have added about 6.9% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is TreeHouse due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts.
TreeHouse Foods Q3 Earnings Beat Estimates
TreeHouse Foods posted third-quarter 2023 results, wherein the bottom line increased year over year and beat the Zacks Consensus Estimate.
Though net sales increased year over year on solid pricing, results were affected by a voluntary product recall and a discrete supply-chain headwind. These factors, along with soft co-manufacturing and food-away-from-home revenues and sluggish consumption in specific categories, were downsides. Consequently, management lowered its net sales guidance for 2023.
However, TreeHouse Foods surpassed the overall private brand market performance within the retail channel. TreeHouse Foods remains focused on improving its supply chain and implementing TMOS initiatives to strengthen its network. These aspects, along with robust brands, place the company well for the long run.
Quarter in Detail
TreeHouse Foods reported adjusted earnings from continuing operations of 57 cents per share, which beat the Zacks Consensus Estimate of 48 cents. TreeHouse Foods’ adjusted earnings from continuing operations came in at 36 cents in the year-ago period.
Net sales of $863.3 million advanced 3.6% year over year but came in lower than the Zacks Consensus Estimate of $955 million.
Growth in net sales was mainly driven by the buyout of the Coffee Roasting Capability, pricing actions undertaken to recover commodity inflation and higher retail volumes. This was somewhat offset by lower co-manufacturing and food-away-from-home volumes. Supply-chain hurdles also affected certain categories.
The volume/mix (excluding buyouts) fell 3.4%, whereas pricing increased 3.2%. Organic sales decreased 0.6%. TreeHouse Foods witnessed currency headwinds to the tune of 0.1%, and the volume/mix associated with acquisitions contributed 4.3% to net sales.
The gross margin of 15.9% contracted 0.1 percentage points from the year-ago quarter’s figure, mainly due to supply-chain hurdles stemming from a voluntary product recall. This was partly made up by pricing actions to recover commodity and freight inflation and reduced costs from operations.
Total operating expenses were $103.9 million, down from the $138.6 million reported in the year-ago quarter.
Adjusted EBITDA from continuing operations came in at $89.9 million, up from $79.6 million in the year-ago period. The upside can be attributed to improved pricing, partly negated by reduced fixed cost absorption and category mix.
Other Updates
TreeHouse Foods concluded the quarter with cash and cash equivalents of $19.7 million, long-term debt of $1,550.7 million and total shareholders’ equity of $1,695.8 million. In the first nine months of 2023, the company’s net cash from operating activities was $11 million.
During the third quarter, TreeHouse Foods bought back about 1.1 million shares for $50 million (excluding excise tax) and had shares worth $216.7 million pending under its buyback authorization.
Guidance
Management revised its 2023 guidance. For 2023, TreeHouse Foods now expects net sales in the band of $3,435-$3,465 million, which indicates growth of nearly 4.5% at the midpoint. Earlier, TreeHouse Foods expected net sales growth of 7.5-9.5% to a range of $3.71-$3.78 billion. The updated sales guidance reflects the impact of the Snacks Bars business divestiture, the product recall, a discrete supply-chain headwind and the continuation of ongoing consumer trends.
Adjusted EBITDA is likely to be $360-$370 million, suggesting 25% growth at the mid-point. For 2023, management expects a capital expenditure of $140 million.
For the fourth quarter, adjusted net sales are projected to be $910-$940 million, indicating a decline of 3% at the mid-point. The decrease is likely to be an effect of the voluntary recall and a discrete supply-chain headwind.
The adjusted gross margin is expected to see a slight increase sequentially and year over year in the fourth quarter due to TMOS and supply-chain savings efforts.
The company expects fourth-quarter adjusted EBITDA of $103-$113 million, indicating a 9% decrease at the mid-point due to the factors impacting quarterly sales and operating costs associated with the anticipated wind-down of considerable portions of the transition services agreement related to the sale of the Meal Preparation business.
How Have Estimates Been Moving Since Then?
In the past month, investors have witnessed a downward trend in estimates review.
The consensus estimate has shifted -23.63% due to these changes.
VGM Scores
At this time, TreeHouse has a poor Growth Score of F, a grade with the same score on the momentum front. However, the stock was allocated a grade of B on the value side, putting it in the second quintile for this investment strategy.
Overall, the stock has an aggregate VGM Score of D. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Notably, TreeHouse has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Performance of an Industry Player
TreeHouse belongs to the Zacks Food - Miscellaneous industry. Another stock from the same industry, Kraft Heinz (KHC), has gained 8.3% over the past month. More than a month has passed since the company reported results for the quarter ended September 2023.
Kraft Heinz reported revenues of $6.57 billion in the last reported quarter, representing a year-over-year change of +1%. EPS of $0.72 for the same period compares with $0.63 a year ago.
For the current quarter, Kraft Heinz is expected to post earnings of $0.77 per share, indicating a change of -9.4% from the year-ago quarter. The Zacks Consensus Estimate has changed +0.3% over the last 30 days.
Kraft Heinz has a Zacks Rank #2 (Buy) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of B.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
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
TreeHouse Foods, Inc. (THS) : Free Stock Analysis Report
Kraft Heinz Company (KHC) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Growth in net sales was mainly driven by the buyout of the Coffee Roasting Capability, pricing actions undertaken to recover commodity inflation and higher retail volumes. The gross margin of 15.9% contracted 0.1 percentage points from the year-ago quarter’s figure, mainly due to supply-chain hurdles stemming from a voluntary product recall. The updated sales guidance reflects the impact of the Snacks Bars business divestiture, the product recall, a discrete supply-chain headwind and the continuation of ongoing consumer trends.
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Quarter in Detail TreeHouse Foods reported adjusted earnings from continuing operations of 57 cents per share, which beat the Zacks Consensus Estimate of 48 cents. The company expects fourth-quarter adjusted EBITDA of $103-$113 million, indicating a 9% decrease at the mid-point due to the factors impacting quarterly sales and operating costs associated with the anticipated wind-down of considerable portions of the transition services agreement related to the sale of the Meal Preparation business. Click to get this free report TreeHouse Foods, Inc. (THS) : Free Stock Analysis Report Kraft Heinz Company (KHC) : Free Stock Analysis Report To read this article on Zacks.com click here.
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TreeHouse Foods Q3 Earnings Beat Estimates TreeHouse Foods posted third-quarter 2023 results, wherein the bottom line increased year over year and beat the Zacks Consensus Estimate. Quarter in Detail TreeHouse Foods reported adjusted earnings from continuing operations of 57 cents per share, which beat the Zacks Consensus Estimate of 48 cents. Click to get this free report TreeHouse Foods, Inc. (THS) : Free Stock Analysis Report Kraft Heinz Company (KHC) : Free Stock Analysis Report To read this article on Zacks.com click here.
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A month has gone by since the last earnings report for TreeHouse Foods (THS). Net sales of $863.3 million advanced 3.6% year over year but came in lower than the Zacks Consensus Estimate of $955 million. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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85620ff3-f1a1-4226-97f3-23d4bdad5fab
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714551.0
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2023-12-06 00:00:00 UTC
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Why Is Air Lease (AL) Up 6.5% Since Last Earnings Report?
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DCOMP
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https://www.nasdaq.com/articles/why-is-air-lease-al-up-6.5-since-last-earnings-report
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nan
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nan
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A month has gone by since the last earnings report for Air Lease (AL). Shares have added about 6.5% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Air Lease due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers.
Q3 Earnings Beat
Air Lease reported better-than-expected third-quarter 2023 results wherein both earnings and revenues have outpaced the Zacks Consensus Estimate.
Quarterly earnings of $1.10 per share surpassed the Zacks Consensus Estimate of $1.08 and improved 22.2% on a year-over-year basis. The uptick was backed bygrowth of AL’s fleet and increase in sales activity, partially offset by an increase in interest expense.
Total revenues of $659.4 million outpaced the Zacks Consensus Estimate of $659.2 million and jumped 17.5% year over year, owing to the continuous growth in the company’s fleet and an increase in sales activity. The increase in aircraft sales, trading and other revenue was related to the sale of eight aircraft and one sales-type lease transaction which provided almost $43.9 million in gains.
Other Statistics
Revenues from the rental of flight equipment climbed 11.5% year over year to $604.02 million in the reported quarter. Revenues from aircraft sales, trading activity and other sources grew more than 100% from the year-ago quarter to $55.33 million.
Operating expenses rose 16.7% to $494.3 million.
As of Sep 30, 2023, Air Lease owned 448 aircraft with a net book value of $25.6 billion. The total fleet size at the end of the third quarter was 878 (including the owned fleet of 448) compared with 887 at the end of June 2023.
Liquidity
Air Lease exited the third quarter with cash and cash equivalents of $512.08 million compared with $576.73 million at June 2023-end. As of Sep 30, 2023, AL had $18.6 billion of debt financing and net of discount and issuance costs compared with $18.8 billion as of June 30, 2023.
Dividend Update
On Nov 3, 2023, Air Lease’s board of directors increased its quarterly cash dividend by 5%, from 20 cents per share to 21 cents. The next quarterly dividend of 21 cents per share will be paid on Jan 10, 2024 to holders of record as of Dec 15, 2023.
How Have Estimates Been Moving Since Then?
In the past month, investors have witnessed a downward trend in estimates review.
The consensus estimate has shifted -7.71% due to these changes.
VGM Scores
At this time, Air Lease has a subpar Growth Score of D, though it is lagging a bit on the Momentum Score front with an F. However, the stock was allocated a grade of B on the value side, putting it in the second quintile for this investment strategy.
Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Notably, Air Lease has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Performance of an Industry Player
Air Lease belongs to the Zacks Transportation - Equipment and Leasing industry. Another stock from the same industry, Ryder (R), has gained 6.7% over the past month. More than a month has passed since the company reported results for the quarter ended September 2023.
Ryder reported revenues of $2.92 billion in the last reported quarter, representing a year-over-year change of -3.7%. EPS of $3.58 for the same period compares with $4.45 a year ago.
Ryder is expected to post earnings of $2.77 per share for the current quarter, representing a year-over-year change of -28.8%. Over the last 30 days, the Zacks Consensus Estimate has changed -2.6%.
The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for Ryder. Also, the stock has a VGM Score of A.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
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
Air Lease Corporation (AL) : Free Stock Analysis Report
Ryder System, Inc. (R) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Will the recent positive trend continue leading up to its next earnings release, or is Air Lease due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers. As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys."
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Q3 Earnings Beat Air Lease reported better-than-expected third-quarter 2023 results wherein both earnings and revenues have outpaced the Zacks Consensus Estimate. Total revenues of $659.4 million outpaced the Zacks Consensus Estimate of $659.2 million and jumped 17.5% year over year, owing to the continuous growth in the company’s fleet and an increase in sales activity. Click to get this free report Air Lease Corporation (AL) : Free Stock Analysis Report Ryder System, Inc. (R) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Q3 Earnings Beat Air Lease reported better-than-expected third-quarter 2023 results wherein both earnings and revenues have outpaced the Zacks Consensus Estimate. Total revenues of $659.4 million outpaced the Zacks Consensus Estimate of $659.2 million and jumped 17.5% year over year, owing to the continuous growth in the company’s fleet and an increase in sales activity. Click to get this free report Air Lease Corporation (AL) : Free Stock Analysis Report Ryder System, Inc. (R) : Free Stock Analysis Report To read this article on Zacks.com click here.
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A month has gone by since the last earnings report for Air Lease (AL). Total revenues of $659.4 million outpaced the Zacks Consensus Estimate of $659.2 million and jumped 17.5% year over year, owing to the continuous growth in the company’s fleet and an increase in sales activity. Ryder reported revenues of $2.92 billion in the last reported quarter, representing a year-over-year change of -3.7%.
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a4439a73-6f72-4282-a145-d473e51214af
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714552.0
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2023-12-06 00:00:00 UTC
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Why Is Myriad (MYGN) Up 3% Since Last Earnings Report?
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DCOMP
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https://www.nasdaq.com/articles/why-is-myriad-mygn-up-3-since-last-earnings-report
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nan
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nan
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A month has gone by since the last earnings report for Myriad Genetics (MYGN). Shares have added about 3% in that time frame, underperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Myriad due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers.
Myriad Genetics Posts Narrower-Than-Estimate Loss in Q3
Myriad Genetics reported an adjusted loss of 3 cents per share in the third quarter of 2023 compared with the year-ago quarter’s loss of 19 cents. The metric was narrower than the Zacks Consensus Estimate of a loss of 8 cents.
The quarter’s adjustments exclude amortization expenses from acquired intangible assets, transitory costs related to transformation initiatives and equity compensations.
The GAAP loss was 75 cents compared with the prior-year quarter’s loss of 43 cents.
Revenues
Total revenues rose 22.7% year over year to $191.9 million in the quarter under review. The figure topped the Zacks Consensus Estimate by 6.3%.
Testing volumes rose 18% year over year, excluding contributions from the SneakPeek Early Gender DNA Test.
Quarter in Detail
Hereditary Cancer testing revenues rose 23% year over year to $86.5 million.
Pharmacogenomics testing revenues were $35.7 million, up 8% year over year.
Tumor Profiling testing revenues were down 2% year over year to $30.2 million.
Prenatal testing revenues came in at $39.5 million, up 79% year over year.
Margin Trends
The gross margin in the quarter under review expanded 221 basis points (bps) to 70%.
Research and development expenses rose 17.1% year over year to $24 million. SG&A expenses increased 4.3% to $136.1 million in the reported quarter.
The adjusted operating loss in the quarter was $25.8 million compared with the adjusted operating loss of $45 million in the year-ago quarter.
Financial Position
Myriad Genetics exited the third quarter of 2023 with cash and cash equivalents of $76 million compared with $56.9 million at the end of the second quarter of 2023. At the end of the third quarter, the long-term debt was $38.5 million compared with $38.4 million in the second quarter.
The cumulative net cash used in operating activities at the end of the third quarter was $56.2 million compared with the year-ago cumulative net operating cash outflow of $99 million.
2023 Guidance
Myriad Genetics updated its full-year 2023 guidance.For 2023, the company now expects revenues in the range of $747 -$753 million (up from the earlier guidance of $730-$750 million). This indicates the projected annual growth of 10-11% over 2022. The Zacks Consensus Estimate for the same is pegged at $739.5 million.
The adjusted earnings per share (EPS) is expected to be in the range of a loss of 33-28 cents (the previous guidance was 36-24 cents). The Zacks Consensus Estimate for the metric is pegged at a loss of 31 cents per share.
2024 Guidance
Myriad Genetics introduces its 2024 revenue guidance, which is expected in the range of $815-$835 million (suggesting a 9-11% growth over the mid-point of the 2023 revenue guidance). The Zacks Consensus Estimate for the same is pegged at $803.1 million.
How Have Estimates Been Moving Since Then?
In the past month, investors have witnessed a downward trend in estimates review.
The consensus estimate has shifted -103.64% due to these changes.
VGM Scores
Currently, Myriad has a strong Growth Score of A, though it is lagging a lot on the Momentum Score front with an F. However, the stock was allocated a grade of C on the value side, putting it in the middle 20% for this investment strategy.
Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Notably, Myriad has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Performance of an Industry Player
Myriad belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Sarepta Therapeutics (SRPT), has gained 6.3% over the past month. More than a month has passed since the company reported results for the quarter ended September 2023.
Sarepta Therapeutics reported revenues of $331.82 million in the last reported quarter, representing a year-over-year change of +44.1%. EPS of -$0.46 for the same period compares with -$2.94 a year ago.
For the current quarter, Sarepta Therapeutics is expected to post a loss of $0.40 per share, indicating a change of +67.7% from the year-ago quarter. The Zacks Consensus Estimate has changed +40.7% over the last 30 days.
The overall direction and magnitude of estimate revisions translate into a Zacks Rank #2 (Buy) for Sarepta Therapeutics. Also, the stock has a VGM Score of C.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
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
Myriad Genetics, Inc. (MYGN) : Free Stock Analysis Report
Sarepta Therapeutics, Inc. (SRPT) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers. The quarter’s adjustments exclude amortization expenses from acquired intangible assets, transitory costs related to transformation initiatives and equity compensations. As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys."
|
Myriad Genetics Posts Narrower-Than-Estimate Loss in Q3 Myriad Genetics reported an adjusted loss of 3 cents per share in the third quarter of 2023 compared with the year-ago quarter’s loss of 19 cents. The cumulative net cash used in operating activities at the end of the third quarter was $56.2 million compared with the year-ago cumulative net operating cash outflow of $99 million. Click to get this free report Myriad Genetics, Inc. (MYGN) : Free Stock Analysis Report Sarepta Therapeutics, Inc. (SRPT) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Myriad Genetics Posts Narrower-Than-Estimate Loss in Q3 Myriad Genetics reported an adjusted loss of 3 cents per share in the third quarter of 2023 compared with the year-ago quarter’s loss of 19 cents. The adjusted operating loss in the quarter was $25.8 million compared with the adjusted operating loss of $45 million in the year-ago quarter. Click to get this free report Myriad Genetics, Inc. (MYGN) : Free Stock Analysis Report Sarepta Therapeutics, Inc. (SRPT) : Free Stock Analysis Report To read this article on Zacks.com click here.
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A month has gone by since the last earnings report for Myriad Genetics (MYGN). The Zacks Consensus Estimate for the metric is pegged at a loss of 31 cents per share. The overall direction and magnitude of estimate revisions translate into a Zacks Rank #2 (Buy) for Sarepta Therapeutics.
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feac876d-642c-4f98-a4a9-154fa582c57f
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714553.0
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2023-12-06 00:00:00 UTC
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CRISPR Therapeutics AG (CRSP) Up 20.5% Since Last Earnings Report: Can It Continue?
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DCOMP
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https://www.nasdaq.com/articles/crispr-therapeutics-ag-crsp-up-20.5-since-last-earnings-report%3A-can-it-continue
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nan
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nan
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A month has gone by since the last earnings report for CRISPR Therapeutics AG (CRSP). Shares have added about 20.5% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is CRISPR Therapeutics AG due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts.
Q3 Loss Narrower Than Expected
CRISPR Therapeutics reported a net loss per share of $1.41 in the third quarter of 2023, narrower than the Zacks Consensus Estimate of a loss of $1.98. In the year-ago period, the company had posted a loss of $2.24 per share.
In the absence of any marketed product, CRISPR Therapeutics did not record any revenues during the quarter. The Zacks Consensus Estimate for total revenues stood at $20.7 million. In the year-ago quarter, revenues were less than $0.1 million.
Quarter in Detail
For the reported quarter, research and development expenses fell 22% year over year to $90.7 million, owing to reduced variable external research and manufacturing costs.
Also, general and administrative expenses declined 32% to $18.3 million due to a fall in external professional costs.
Collaboration expenses in the quarter reached $23.4 million, down 40% year over year. The downside can be attributed to the fact that the company reached the $110.3 million deferral limit on costs related to the exa-cel program in third-quarter 2023. Last year, this limit was not reached until fourth-quarter 2022.
As of Sep 30, 2023, CRISPR Therapeutics had cash, cash equivalents, marketable securities and accounts receivables of $1.74 billion compared with $1.84 billion as of Jun 30, 2023.
How Have Estimates Been Moving Since Then?
It turns out, estimates revision have trended upward during the past month.
The consensus estimate has shifted 57.69% due to these changes.
VGM Scores
Currently, CRISPR Therapeutics AG has a subpar Growth Score of D, however its Momentum Score is doing a lot better with a B. However, the stock was allocated a grade of D on the value side, putting it in the bottom 40% for this investment strategy.
Overall, the stock has an aggregate VGM Score of D. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been trending upward for the stock, and the magnitude of these revisions looks promising. It comes with little surprise CRISPR Therapeutics AG has a Zacks Rank #2 (Buy). We expect an above average return from the stock in the next few months.
Performance of an Industry Player
CRISPR Therapeutics AG belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Moderna (MRNA), has gained 6.3% over the past month. More than a month has passed since the company reported results for the quarter ended September 2023.
Moderna reported revenues of $1.83 billion in the last reported quarter, representing a year-over-year change of -45.6%. EPS of -$1.39 for the same period compares with $2.53 a year ago.
For the current quarter, Moderna is expected to post a loss of $1.33 per share, indicating a change of -136.8% from the year-ago quarter. The Zacks Consensus Estimate has changed -7.5% over the last 30 days.
Moderna has a Zacks Rank #3 (Hold) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of F.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
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
CRISPR Therapeutics AG (CRSP) : Free Stock Analysis Report
Moderna, Inc. (MRNA) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts. The downside can be attributed to the fact that the company reached the $110.3 million deferral limit on costs related to the exa-cel program in third-quarter 2023. As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys."
|
A month has gone by since the last earnings report for CRISPR Therapeutics AG (CRSP). Q3 Loss Narrower Than Expected CRISPR Therapeutics reported a net loss per share of $1.41 in the third quarter of 2023, narrower than the Zacks Consensus Estimate of a loss of $1.98. Click to get this free report CRISPR Therapeutics AG (CRSP) : Free Stock Analysis Report Moderna, Inc. (MRNA) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Q3 Loss Narrower Than Expected CRISPR Therapeutics reported a net loss per share of $1.41 in the third quarter of 2023, narrower than the Zacks Consensus Estimate of a loss of $1.98. Quarter in Detail For the reported quarter, research and development expenses fell 22% year over year to $90.7 million, owing to reduced variable external research and manufacturing costs. Click to get this free report CRISPR Therapeutics AG (CRSP) : Free Stock Analysis Report Moderna, Inc. (MRNA) : Free Stock Analysis Report To read this article on Zacks.com click here.
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A month has gone by since the last earnings report for CRISPR Therapeutics AG (CRSP). Moderna reported revenues of $1.83 billion in the last reported quarter, representing a year-over-year change of -45.6%. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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a63e6f0e-1579-422f-8937-b34b78b39f0a
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714554.0
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2023-12-06 00:00:00 UTC
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Why Is PRA Group (PRAA) Up 21.6% Since Last Earnings Report?
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DCOMP
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https://www.nasdaq.com/articles/why-is-pra-group-praa-up-21.6-since-last-earnings-report
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nan
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nan
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A month has gone by since the last earnings report for PRA Group (PRAA). Shares have added about 21.6% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is PRA Group due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts.
PRA Group Q3 Loss Narrows on Growing Portfolio Income
PRA Group incurred a third-quarter 2023 loss of 31 cents per share, narrower than the Zacks Consensus Estimate of a loss of 39 cents per share. Notably, the company reported earnings of 63 cents per share in the prior-year quarter.
Total revenues of $216.4 million fell 11.6% year over year in the quarter under review. However, the top line outpaced the consensus mark by 5.9%.
The quarterly results gained from robust portfolio purchases, favorable pricing and improved operational results in Brazil and Europe. However, the upside was partially offset by increased expenses related to legal collection fees and agency fees.
Quarterly Operational Update
Total cash collections of PRA Group grew 1.8% year over year to $419.6 million, which beat the Zacks Consensus Estimate of $412 million and our estimate of $394.1 million. The metric benefited on the back of higher collections from Brazil and Europe.
The portfolio income of $190 million advanced 2.2% year over year in the third quarter and surpassed the consensus mark of $186 million as well as our estimate of $174.9 million. Other revenues plunged 59.4% year over year to $4.3 million, lower than the consensus mark of $5.6 million.
Total operating expenses of $173.4 million dipped 0.4% year over year but came higher than our estimate of $170 million. The metric witnessed a year-over-year decline, attributable to lower compensation and employee services, legal collection costs, and outside fees and services. However, legal collection fees and agency fees escalated 9.8% and 28.2%, respectively, on a year-over-year basis.
PRA Group incurred a net loss of $8.2 million in the quarter under review against the prior-year quarter’s net income of $27.2 million. The figure also came narrower than our estimate of a loss of $13.3 million.
It purchased nonperforming loan portfolios of $311.2 million in the third quarter, which soared 69.9% year over year. The cash efficiency ratio improved 50 basis points (bps) year over year to 58.9%.
The estimated remaining collections (“ERC”) of PRA Group amounted to $6 billion at the third-quarter end.
Financial Update (As of Sep 30, 2023)
PRA Group exited the third quarter with cash and cash equivalents of $105.2 million, which climbed 26.1% from the level at 2022 end. It had $1.3 billion remaining under its credit facilities at the third-quarter end.
Total assets of $4.3 billion increased 3.7% from the 2022-end figure.
Borrowings were $2.8 billion, up 13.5% from the figure as of Dec 31, 2022. Total equity of $1.2 billion slipped 7.5% from the 2022-end level.
Forward View
Legal collection expenses continue to be forecasted in the low to mid-$20 million range in the fourth quarter of 2023. Net interest expenses are currently projected to be in the low $50 million range in the fourth quarter.
The effective tax rate is expected in the low 20% range this year.
The cash efficiency ratio is projected to remain relatively stable in the fourth quarter. The metric is likely to touch the low 60s level in the near term. PRA Group is likely to collect an ERC balance of $1.5 billion within the next 12 months.
How Have Estimates Been Moving Since Then?
It turns out, estimates revision flatlined during the past month.
The consensus estimate has shifted 6.94% due to these changes.
VGM Scores
Currently, PRA Group has a poor Growth Score of F, however its Momentum Score is doing a lot better with a C. Following the exact same course, the stock was allocated a grade of C on the value side, putting it in the middle 20% for this investment strategy.
Overall, the stock has an aggregate VGM Score of F. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
PRA Group has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Performance of an Industry Player
PRA Group belongs to the Zacks Financial - Miscellaneous Services industry. Another stock from the same industry, Synchrony (SYF), has gained 15.8% over the past month. More than a month has passed since the company reported results for the quarter ended September 2023.
Synchrony reported revenues of $4.36 billion in the last reported quarter, representing a year-over-year change of +11.1%. EPS of $1.48 for the same period compares with $1.47 a year ago.
For the current quarter, Synchrony is expected to post earnings of $1.01 per share, indicating a change of -19.8% from the year-ago quarter. The Zacks Consensus Estimate has changed +1.3% over the last 30 days.
Synchrony has a Zacks Rank #3 (Hold) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of A.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
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
PRA Group, Inc. (PRAA) : Free Stock Analysis Report
Synchrony Financial (SYF) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts. Forward View Legal collection expenses continue to be forecasted in the low to mid-$20 million range in the fourth quarter of 2023. As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys."
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PRA Group Q3 Loss Narrows on Growing Portfolio Income PRA Group incurred a third-quarter 2023 loss of 31 cents per share, narrower than the Zacks Consensus Estimate of a loss of 39 cents per share. Quarterly Operational Update Total cash collections of PRA Group grew 1.8% year over year to $419.6 million, which beat the Zacks Consensus Estimate of $412 million and our estimate of $394.1 million. Click to get this free report PRA Group, Inc. (PRAA) : Free Stock Analysis Report Synchrony Financial (SYF) : Free Stock Analysis Report To read this article on Zacks.com click here.
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PRA Group Q3 Loss Narrows on Growing Portfolio Income PRA Group incurred a third-quarter 2023 loss of 31 cents per share, narrower than the Zacks Consensus Estimate of a loss of 39 cents per share. Quarterly Operational Update Total cash collections of PRA Group grew 1.8% year over year to $419.6 million, which beat the Zacks Consensus Estimate of $412 million and our estimate of $394.1 million. The portfolio income of $190 million advanced 2.2% year over year in the third quarter and surpassed the consensus mark of $186 million as well as our estimate of $174.9 million.
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A month has gone by since the last earnings report for PRA Group (PRAA). Quarterly Operational Update Total cash collections of PRA Group grew 1.8% year over year to $419.6 million, which beat the Zacks Consensus Estimate of $412 million and our estimate of $394.1 million. The Zacks Consensus Estimate has changed +1.3% over the last 30 days.
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88dea819-2c14-438f-a23b-6ca014a44cf2
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714555.0
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2023-12-06 00:00:00 UTC
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S&P 500 Movers: BF.B, CPB
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DCOMP
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https://www.nasdaq.com/articles/sp-500-movers%3A-bf.b-cpb
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In early trading on Wednesday, shares of Campbell Soup topped the list of the day's best performing components of the S&P 500 index, trading up 5.5%. Year to date, Campbell Soup has lost about 24.9% of its value.
And the worst performing S&P 500 component thus far on the day is Brown-Forman, trading down 8.5%. Brown-Forman is lower by about 16.1% looking at the year to date performance.
Two other components making moves today are Altria Group, trading down 2.9%, and Discover Financial Services, trading up 3.6% on the day.
VIDEO: S&P 500 Movers: BF.B, CPB
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In early trading on Wednesday, shares of Campbell Soup topped the list of the day's best performing components of the S&P 500 index, trading up 5.5%. And the worst performing S&P 500 component thus far on the day is Brown-Forman, trading down 8.5%. VIDEO: S&P 500 Movers: BF.B, CPB The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In early trading on Wednesday, shares of Campbell Soup topped the list of the day's best performing components of the S&P 500 index, trading up 5.5%. Year to date, Campbell Soup has lost about 24.9% of its value. And the worst performing S&P 500 component thus far on the day is Brown-Forman, trading down 8.5%.
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In early trading on Wednesday, shares of Campbell Soup topped the list of the day's best performing components of the S&P 500 index, trading up 5.5%. And the worst performing S&P 500 component thus far on the day is Brown-Forman, trading down 8.5%. Two other components making moves today are Altria Group, trading down 2.9%, and Discover Financial Services, trading up 3.6% on the day.
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Year to date, Campbell Soup has lost about 24.9% of its value. And the worst performing S&P 500 component thus far on the day is Brown-Forman, trading down 8.5%. VIDEO: S&P 500 Movers: BF.B, CPB The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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3bde92e7-e060-4581-b164-bcf260322265
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714556.0
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2023-12-06 00:00:00 UTC
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Shockwave Medical (SWAV) Down 1% Since Last Earnings Report: Can It Rebound?
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DCOMP
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https://www.nasdaq.com/articles/shockwave-medical-swav-down-1-since-last-earnings-report%3A-can-it-rebound
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It has been about a month since the last earnings report for Shockwave Medical (SWAV). Shares have lost about 1% in that time frame, underperforming the S&P 500.
Will the recent negative trend continue leading up to its next earnings release, or is Shockwave Medical due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers.
Shockwave Medical Q3 Earnings Beat, Revenues Rise Y/Y
Shockwave Medical reported third-quarter 2023 earnings per share (EPS) of 92 cents, which beat the Zacks Consensus Estimate of 81 cents by 13.6%. The company reported an EPS of 68 cents in the year-ago quarter.
Revenue Details
Revenues totaled $186 million, up a massive 42% from the prior-year period’s level. The top line also beat the Zacks Consensus Estimate by 0.6%. The growth was primarily driven by an increase in the purchase volume of products, both in the United States and abroad.
Revenues from coronary products grew nearly 50% during the third quarter, while peripheral product sales improved approximately 30%. Coronary franchise sales were driven by the strong adoption of new coronary device C2+ in international markets. The device was launched in the U.S. market during the third quarter.
While U.S. revenues were up 33% year over year, International revenues grew 88%. Internationally, SWAV’s sales were boosted by strong momentum in Germany, the United Kingdom, Italy, Spain and France.
Q3 Highlights
In August, the Centers for Medicare & Medicaid Services (CMS) created new Medicare Severity Diagnosis Related Group (MS-DRG) codes and payments for coronary Intravascular Lithotripsy (IVL) in the hospital inpatient setting.
Per the new codes, new coronary IVL-specific MS-DRGs are associated with higher payments than the MS-DRG payments for other Percutaneous Coronary Intervention procedures. Again, the CMS established a Category I Current Procedural Terminology add-on code for procedures involving coronary earlier this month. Under this new category, physicians will get a 20-30% increase in remuneration for the additional work associated with performing coronary IVL.
In September, SWAV appointed Nick West as the Associate Chief Medical Officer (CMO), who will likely succeed Dr. Dawkins as CMO in mid-2024.
Margins
Gross profit in the reported quarter was $161.5 million, up 42.3% year over year. As a percentage of revenues, the gross margin in the quarter was 87%, up 100 basis points year over year.
Sales and marketing expenses amounted to $56.9 million, up 35.2% from the prior-year quarter’s level. Research and development expenses totaled $39.5 million, up 95.9% on a year-over-year basis.
Operating income totaled $43.6 million compared with the year-ago quarter’s level of $36.8 million.
Financial Position
Shockwave Medical exited the third quarter with cash, cash equivalents and investments of $917.3 million compared with $258.6 million in the previous quarter.
Total assets amounted to $1.47 billion compared with $786.6 million at the end of the second quarter of 2023.
2023 Revenue Outlook
For 2023, Shockwave Medical continues to expect revenues in the band of $725-$730 million. The projected top line implies growth of 48-49% from the prior-year period’s level. The Zacks Consensus Estimate for the same is pegged at $729.8 million.
How Have Estimates Been Moving Since Then?
It turns out, estimates revision have trended downward during the past month.
The consensus estimate has shifted -14.85% due to these changes.
VGM Scores
Currently, Shockwave Medical has an average Growth Score of C, though it is lagging a lot on the Momentum Score front with an F. Charting a somewhat similar path, the stock was allocated a grade of D on the value side, putting it in the bottom 40% for this investment strategy.
Overall, the stock has an aggregate VGM Score of F. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Notably, Shockwave Medical has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Performance of an Industry Player
Shockwave Medical is part of the Zacks Medical - Instruments industry. Over the past month, Pacific Biosciences of California (PACB), a stock from the same industry, has gained 22%. The company reported its results for the quarter ended September 2023 more than a month ago.
Pacific Biosciences reported revenues of $55.69 million in the last reported quarter, representing a year-over-year change of +72.4%. EPS of -$0.27 for the same period compares with -$0.32 a year ago.
Pacific Biosciences is expected to post a loss of $0.31 per share for the current quarter, representing a year-over-year change of +11.4%. Over the last 30 days, the Zacks Consensus Estimate has changed -1.7%.
The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for Pacific Biosciences. Also, the stock has a VGM Score of F.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
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
ShockWave Medical, Inc. (SWAV) : Free Stock Analysis Report
Pacific Biosciences of California, Inc. (PACB) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers. Internationally, SWAV’s sales were boosted by strong momentum in Germany, the United Kingdom, Italy, Spain and France. As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys."
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Shockwave Medical Q3 Earnings Beat, Revenues Rise Y/Y Shockwave Medical reported third-quarter 2023 earnings per share (EPS) of 92 cents, which beat the Zacks Consensus Estimate of 81 cents by 13.6%. Pacific Biosciences reported revenues of $55.69 million in the last reported quarter, representing a year-over-year change of +72.4%. Click to get this free report ShockWave Medical, Inc. (SWAV) : Free Stock Analysis Report Pacific Biosciences of California, Inc. (PACB) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Shockwave Medical Q3 Earnings Beat, Revenues Rise Y/Y Shockwave Medical reported third-quarter 2023 earnings per share (EPS) of 92 cents, which beat the Zacks Consensus Estimate of 81 cents by 13.6%. Financial Position Shockwave Medical exited the third quarter with cash, cash equivalents and investments of $917.3 million compared with $258.6 million in the previous quarter. Click to get this free report ShockWave Medical, Inc. (SWAV) : Free Stock Analysis Report Pacific Biosciences of California, Inc. (PACB) : Free Stock Analysis Report To read this article on Zacks.com click here.
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It has been about a month since the last earnings report for Shockwave Medical (SWAV). 2023 Revenue Outlook For 2023, Shockwave Medical continues to expect revenues in the band of $725-$730 million. Pacific Biosciences reported revenues of $55.69 million in the last reported quarter, representing a year-over-year change of +72.4%.
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1e8efa18-a6dc-4bc0-8d26-31fdf98c47d8
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714557.0
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2023-12-06 00:00:00 UTC
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Celanese (CE) Up 20.1% Since Last Earnings Report: Can It Continue?
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DCOMP
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https://www.nasdaq.com/articles/celanese-ce-up-20.1-since-last-earnings-report%3A-can-it-continue
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nan
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It has been about a month since the last earnings report for Celanese (CE). Shares have added about 20.1% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Celanese due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts.
Celanese’s Q3 Earnings Surpass Estimates, Sales Miss
Celanese reported earnings from continuing operations of $8.70 per share in third-quarter 2023, up from $1.76 in the prior-year quarter.
Adjusted earnings in the third quarter were $2.50 per share, down 36.5% from $3.94 reported a year ago. The bottom line beat the Zacks Consensus Estimate of $2.20.
Revenues of around $2.72 billion increased roughly 18.3% year over year. However, revenues missed the Zacks Consensus Estimate of $2.76 billion.
Celanese implemented measures to lower expenses, synchronize production and inventory with market demand and boost cash flow generation in light of challenging demand conditions and competitive factors in the reported quarter.
Segment Highlights
Net sales in the Engineered Materials unit were $1.53 million in the reported quarter, up around 64% year over year. It beat our estimate of $1.46 billion. The segment reported an operating profit of $691 million and an adjusted EBIT of $229 million in the third quarter.
The Acetyl Chain segment posted net sales of $1.22 billion, down nearly 12.7% year over year. It lagged our estimate of $1.28 billion. The segment generated an operating profit of $272 million and an adjusted EBIT of $310 million in the third quarter.
Financials
Celanese ended the quarter with cash and cash equivalents of $1.36 billion, up roughly 5% sequentially. Long-term debt was down around 4.6% sequentially to $12.3 billion.
Cash provided by operating activities was $403 million and free cash flow was $268 million in the reported quarter. Capital expenditures were $131 million in the quarter.
Outlook
Celanese expects adjusted earnings in the range of $2.10-$2.50 per share for the fourth quarter of 2023. The projection includes the expected roughly 30 cents impact from the M&M amortization. For the full year, Celanese anticipates adjusted earnings at the bottom end of the guidance range of $9-$10, which includes approximately $1.20 per share of M&M transaction amortization.
How Have Estimates Been Moving Since Then?
It turns out, fresh estimates have trended downward during the past month.
The consensus estimate has shifted -13.04% due to these changes.
VGM Scores
Currently, Celanese has a poor Growth Score of F, however its Momentum Score is doing a bit better with a D. However, the stock was allocated a grade of A on the value side, putting it in the top 20% for this investment strategy.
Overall, the stock has an aggregate VGM Score of D. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Notably, Celanese has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Performance of an Industry Player
Celanese belongs to the Zacks Chemical - Specialty industry. Another stock from the same industry, Linde (LIN), has gained 3.8% over the past month. More than a month has passed since the company reported results for the quarter ended September 2023.
Linde reported revenues of $8.16 billion in the last reported quarter, representing a year-over-year change of -7.3%. EPS of $3.63 for the same period compares with $3.10 a year ago.
For the current quarter, Linde is expected to post earnings of $3.50 per share, indicating a change of +10.8% from the year-ago quarter. The Zacks Consensus Estimate remained unchanged over the last 30 days.
Linde has a Zacks Rank #3 (Hold) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of B.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
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
Celanese Corporation (CE) : Free Stock Analysis Report
Linde PLC (LIN) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts. For the full year, Celanese anticipates adjusted earnings at the bottom end of the guidance range of $9-$10, which includes approximately $1.20 per share of M&M transaction amortization. As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys."
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Celanese’s Q3 Earnings Surpass Estimates, Sales Miss Celanese reported earnings from continuing operations of $8.70 per share in third-quarter 2023, up from $1.76 in the prior-year quarter. Cash provided by operating activities was $403 million and free cash flow was $268 million in the reported quarter. Click to get this free report Celanese Corporation (CE) : Free Stock Analysis Report Linde PLC (LIN) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Celanese’s Q3 Earnings Surpass Estimates, Sales Miss Celanese reported earnings from continuing operations of $8.70 per share in third-quarter 2023, up from $1.76 in the prior-year quarter. Linde reported revenues of $8.16 billion in the last reported quarter, representing a year-over-year change of -7.3%. Click to get this free report Celanese Corporation (CE) : Free Stock Analysis Report Linde PLC (LIN) : Free Stock Analysis Report To read this article on Zacks.com click here.
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It has been about a month since the last earnings report for Celanese (CE). Adjusted earnings in the third quarter were $2.50 per share, down 36.5% from $3.94 reported a year ago. Cash provided by operating activities was $403 million and free cash flow was $268 million in the reported quarter.
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714558.0
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2023-12-06 00:00:00 UTC
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Essential Utilities (WTRG) Up 2.3% Since Last Earnings Report: Can It Continue?
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DCOMP
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https://www.nasdaq.com/articles/essential-utilities-wtrg-up-2.3-since-last-earnings-report%3A-can-it-continue
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A month has gone by since the last earnings report for Essential Utilities (WTRG). Shares have added about 2.3% in that time frame, underperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Essential Utilities due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts.
Essential Utilities Q3 Earnings Surpass Estimates
Essential Utilities Inc. delivered third-quarter 2023 operating earnings per share (“EPS”) of 30 cents, which surpassed the Zacks Consensus Estimate by a penny. The bottom line beat the year-ago quarter’s earnings of 26 cents by 15.4%.
Earnings during the quarter benefited from higher revenues from regulatory recoveries and lower expenses were marginally offset by decreased volume from the regulated water segment and other items.
Total Revenues
Third-quarter operating revenues of $411.3 million lagged the Zacks Consensus Estimate of $462 million by 10.9%. Total revenues were down 5.4% year over year.
Highlights of the Release
Essential Utilities invested nearly $874.5 million in the first nine months of 2023 to improve its regulated water and natural gas infrastructure systems and to enhance customer service across its operations.
Essential Utilities continues to expand operations through acquisitions. Year-to-date 2023, the company has acquired seven systems that have collectively added more than $44.5 million in rate base and more than 11,000 new customers or equivalent dwelling units to the company’s portfolio.
Essential Utilities signed five purchase agreements to acquire additional water and wastewater systems that will add 211,000 retail customers or equivalent dwelling units to its existing customer base for $354 million.
Year-to-date 2023, the company’s regulated water segment has received rate awards or infrastructure surcharges worth $42.4 million and its regulated natural gas segment has received infrastructure surcharges worth $21.3 million.
Operation and maintenance expenses for the third quarter were $147.1 million, down 2.8% from the year-ago figure of $151.4 million.
Operating income was $137.4 million, up 9.1% year over year.
Interest expenses increased 13.4% to $68.6 million from $60.5 million in the year-ago quarter.
Financial Highlights
Current assets were $409.4 million as of Sep 30, 2023 compared with $658.2 million as of Dec 31, 2022.
Long-term debt was $6,456.1 million as of Sep 30, 2023, lower than $6,615.5 million as of Dec 31, 2022.
Guidance
Essential Utilities reaffirmed its 2023 earnings in the range of $1.85-$1.90 per share. The mid-point of the guidance range is a tad higher than the Zacks Consensus Estimate of $1.86 per share.
The company expects its customer base in the water segment to expand by 2-3% through acquisitions and organic customer growth.
Essential Utilities also plans to invest $1.1 billion in 2023 and $3.3 billion through 2025 to improve the water and natural gas systems and better serve customers using improved information technology.
WTRG expects a compound annual growth rate of 6-7% through 2025 and 8-10% through 2025 for its regulated water and regulated natural gas segments, respectively.
How Have Estimates Been Moving Since Then?
It turns out, fresh estimates have trended downward during the past month.
VGM Scores
At this time, Essential Utilities has an average Growth Score of C, however its Momentum Score is doing a bit better with a B. However, the stock was allocated a grade of D on the value side, putting it in the bottom 40% for this investment strategy.
Overall, the stock has an aggregate VGM Score of D. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Notably, Essential Utilities has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Performance of an Industry Player
Essential Utilities is part of the Zacks Utility - Water Supply industry. Over the past month, American Water Works (AWK), a stock from the same industry, has gained 3.6%. The company reported its results for the quarter ended September 2023 more than a month ago.
American Water Works reported revenues of $1.17 billion in the last reported quarter, representing a year-over-year change of +7.9%. EPS of $1.66 for the same period compares with $1.63 a year ago.
American Water Works is expected to post earnings of $0.87 per share for the current quarter, representing a year-over-year change of +7.4%. Over the last 30 days, the Zacks Consensus Estimate has changed -3%.
American Water Works has a Zacks Rank #2 (Buy) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of D.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
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
Essential Utilities Inc. (WTRG) : Free Stock Analysis Report
American Water Works Company, Inc. (AWK) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Essential Utilities Inc. delivered third-quarter 2023 operating earnings per share (“EPS”) of 30 cents, which surpassed the Zacks Consensus Estimate by a penny. Earnings during the quarter benefited from higher revenues from regulatory recoveries and lower expenses were marginally offset by decreased volume from the regulated water segment and other items. Highlights of the Release Essential Utilities invested nearly $874.5 million in the first nine months of 2023 to improve its regulated water and natural gas infrastructure systems and to enhance customer service across its operations.
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Essential Utilities Inc. delivered third-quarter 2023 operating earnings per share (“EPS”) of 30 cents, which surpassed the Zacks Consensus Estimate by a penny. Year-to-date 2023, the company’s regulated water segment has received rate awards or infrastructure surcharges worth $42.4 million and its regulated natural gas segment has received infrastructure surcharges worth $21.3 million. Click to get this free report Essential Utilities Inc. (WTRG) : Free Stock Analysis Report American Water Works Company, Inc. (AWK) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Highlights of the Release Essential Utilities invested nearly $874.5 million in the first nine months of 2023 to improve its regulated water and natural gas infrastructure systems and to enhance customer service across its operations. Year-to-date 2023, the company’s regulated water segment has received rate awards or infrastructure surcharges worth $42.4 million and its regulated natural gas segment has received infrastructure surcharges worth $21.3 million. Click to get this free report Essential Utilities Inc. (WTRG) : Free Stock Analysis Report American Water Works Company, Inc. (AWK) : Free Stock Analysis Report To read this article on Zacks.com click here.
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A month has gone by since the last earnings report for Essential Utilities (WTRG). Total Revenues Third-quarter operating revenues of $411.3 million lagged the Zacks Consensus Estimate of $462 million by 10.9%. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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1f55afe8-29bf-47c9-8ccb-d96ce54e3448
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714559.0
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2023-12-06 00:00:00 UTC
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Mirati (MRTX) Up 1.1% Since Last Earnings Report: Can It Continue?
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DCOMP
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https://www.nasdaq.com/articles/mirati-mrtx-up-1.1-since-last-earnings-report%3A-can-it-continue
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It has been about a month since the last earnings report for Mirati (MRTX). Shares have added about 1.1% in that time frame, underperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Mirati due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts.
Q3 Earnings Beat, Sales Miss Estimates
Mirati reported a loss of $2.49 per share for third-quarter 2023, which was narrower than the Zacks Consensus Estimate of a loss of $2.92 as well as the year-ago quarter’s loss of $3.09 per share.
Mirati reported $16.4 million in total revenues for the third quarter, missing the Zacks Consensus Estimate of $19.02 million. Mirati had recorded revenues of $5.4 million in the year-ago quarter.
Quarter in Detail
Third-quarter revenues comprised $16.4 million as product revenues from Krazati/adagrasib, compared with $13.4 million in the previous quarter.No product revenues were recorded in the year-ago quarter.
There were no license and collaboration revenues in the quarter compared with $5.4 million in the year-ago quarter.
Research and development expenses declined 12.4% from the prior-year quarter’s level to $114.8 million. This decrease was due to a reduction in clinical development costs for sitravatinib as the company scrapped the development of the candidate, and a decline in share-based compensation.
Selling, general and administrative expenses rose 18.4% from the year-ago quarter’s level to $72.0 million due to an increase in commercial-related costs to support the marketing and sales of Krazati and higher headcount-related costs.
Cash, cash equivalents and short-term investments as of Sep 30, 2023 were $976.4 million compared with $779.4 million as of Jun 30, 2023.
How Have Estimates Been Moving Since Then?
It turns out, fresh estimates have trended upward during the past month.
VGM Scores
At this time, Mirati has a subpar Growth Score of D, however its Momentum Score is doing a lot better with an A. However, the stock was allocated a grade of F on the value side, putting it in the bottom 20% quintile for this investment strategy.
Overall, the stock has an aggregate VGM Score of F. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been broadly trending upward for the stock, and the magnitude of these revisions looks promising. Notably, Mirati has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Performance of an Industry Player
Mirati belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Celldex Therapeutics (CLDX), has gained 9.1% over the past month. More than a month has passed since the company reported results for the quarter ended September 2023.
Celldex reported revenues of $1.52 million in the last reported quarter, representing a year-over-year change of +270.7%. EPS of -$0.81 for the same period compares with -$0.57 a year ago.
Celldex is expected to post a loss of $0.85 per share for the current quarter, representing a year-over-year change of -51.8%. Over the last 30 days, the Zacks Consensus Estimate has changed -4.3%.
The overall direction and magnitude of estimate revisions translate into a Zacks Rank #4 (Sell) for Celldex. Also, the stock has a VGM Score of F.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
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
Mirati Therapeutics, Inc. (MRTX) : Free Stock Analysis Report
Celldex Therapeutics, Inc. (CLDX) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Will the recent positive trend continue leading up to its next earnings release, or is Mirati due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts. As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys."
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Mirati reported $16.4 million in total revenues for the third quarter, missing the Zacks Consensus Estimate of $19.02 million. Quarter in Detail Third-quarter revenues comprised $16.4 million as product revenues from Krazati/adagrasib, compared with $13.4 million in the previous quarter.No product revenues were recorded in the year-ago quarter. Click to get this free report Mirati Therapeutics, Inc. (MRTX) : Free Stock Analysis Report Celldex Therapeutics, Inc. (CLDX) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Q3 Earnings Beat, Sales Miss Estimates Mirati reported a loss of $2.49 per share for third-quarter 2023, which was narrower than the Zacks Consensus Estimate of a loss of $2.92 as well as the year-ago quarter’s loss of $3.09 per share. Mirati reported $16.4 million in total revenues for the third quarter, missing the Zacks Consensus Estimate of $19.02 million. Click to get this free report Mirati Therapeutics, Inc. (MRTX) : Free Stock Analysis Report Celldex Therapeutics, Inc. (CLDX) : Free Stock Analysis Report To read this article on Zacks.com click here.
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It has been about a month since the last earnings report for Mirati (MRTX). There were no license and collaboration revenues in the quarter compared with $5.4 million in the year-ago quarter. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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77073404-b96c-4429-bd3b-3932e1cf79c2
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714560.0
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2023-12-06 00:00:00 UTC
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Goodyear (GT) Up 9.2% Since Last Earnings Report: Can It Continue?
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DCOMP
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https://www.nasdaq.com/articles/goodyear-gt-up-9.2-since-last-earnings-report%3A-can-it-continue
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A month has gone by since the last earnings report for Goodyear (GT). Shares have added about 9.2% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Goodyear due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts.
Goodyear Q3 Earnings Beat Estimates
Goodyear posted a third-quarter 2023 adjusted earnings per share of 36 cents, surpassing the Zacks Consensus Estimate of 17 cents but decreasing from earnings of 40 cents reported in the year-ago quarter.
The company generated net revenues of $5,142 million, falling 3.2% on a year-over-year basis and missing the Zacks Consensus Estimate of $5,155 million due to a weak commercial truck industry and lower other-tire related sales.
In the reported quarter, tire volume was 45.3 million units, down 2.8% from the year-ago period's levels.
Segmental Performance
In the reported quarter, the Americas segment generated revenues of $3,120 million, 5.6% lower than the prior-year period's levels and lagging our estimate of $3,116.3 million due to commercial weakness and lower sales in other-tire related businesses. The segment registered an operating income of $258 million, which decreased 15.7% from the year-ago period's figures. The operating margin was hit by lower volumes. The figure, however, surpassed our expectation of $181.3 million.
Revenues in the Europe, the Middle East and Africa segment were $1,374 million, up 1.2% from the year-ago period's levels, driven by an increase in revenue per tire of 10% and positive foreign currency translation. The figure, however, missed our estimate of $1,451.8 million. The operating income for the segment was $22 million in the quarter, declining 26.7% year over year. The figure, however, surpassed our estimate of an operating income of $14.9 million.
Revenues in the Asia Pacific segment remained flat year over year at $648 million and surpassed our estimate of $604.9 million. The segment’s operating profit was $56 million, up 51.4% from the year-ago figure, owing to the price/mix benefits.
Financial Position
Selling, general & administrative expenses fell to $673 million from $696 million in the year-ago period. Goodyear had cash and cash equivalents of $1,002 million as of Sep 30, 2023, down from $1,227 million on Dec 31, 2022.
Long-term debt and finance leases amounted to $8,067 million as of Sep 30, 2023, up from $7,267 million on Dec 31, 2022. Capital expenditure in the quarter was $807 million, up from $765 million in the year-ago quarter.
Revised 2023 Outlook
For 2023, the company now anticipates raw material costs to decrease by $40 million compared with the prior estimate of a rise of $25 million. Capital expenditures are expected to be $1.05 billion, up from the previous guidance of $1 billion. The estimates for interest expenses and depreciation and amortization remained unchanged at $540 million and $1 billion, respectively.
How Have Estimates Been Moving Since Then?
In the past month, investors have witnessed a downward trend in fresh estimates.
The consensus estimate has shifted -16.42% due to these changes.
VGM Scores
Currently, Goodyear has a poor Growth Score of F, however its Momentum Score is doing a lot better with a C. However, the stock was allocated a grade of A on the value side, putting it in the top 20% for this investment strategy.
Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Notably, Goodyear has a Zacks Rank #2 (Buy). We expect an above average return from the stock in the next few months.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
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
The Goodyear Tire & Rubber Company (GT) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts. Zacks Reveals ChatGPT "Sleeper" Stock One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys."
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Goodyear Q3 Earnings Beat Estimates Goodyear posted a third-quarter 2023 adjusted earnings per share of 36 cents, surpassing the Zacks Consensus Estimate of 17 cents but decreasing from earnings of 40 cents reported in the year-ago quarter. The company generated net revenues of $5,142 million, falling 3.2% on a year-over-year basis and missing the Zacks Consensus Estimate of $5,155 million due to a weak commercial truck industry and lower other-tire related sales. Segmental Performance In the reported quarter, the Americas segment generated revenues of $3,120 million, 5.6% lower than the prior-year period's levels and lagging our estimate of $3,116.3 million due to commercial weakness and lower sales in other-tire related businesses.
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Goodyear Q3 Earnings Beat Estimates Goodyear posted a third-quarter 2023 adjusted earnings per share of 36 cents, surpassing the Zacks Consensus Estimate of 17 cents but decreasing from earnings of 40 cents reported in the year-ago quarter. The company generated net revenues of $5,142 million, falling 3.2% on a year-over-year basis and missing the Zacks Consensus Estimate of $5,155 million due to a weak commercial truck industry and lower other-tire related sales. Segmental Performance In the reported quarter, the Americas segment generated revenues of $3,120 million, 5.6% lower than the prior-year period's levels and lagging our estimate of $3,116.3 million due to commercial weakness and lower sales in other-tire related businesses.
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A month has gone by since the last earnings report for Goodyear (GT). The segment registered an operating income of $258 million, which decreased 15.7% from the year-ago period's figures. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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07c47881-4b7e-46c1-8d3b-b1528a1081a5
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714561.0
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2023-12-06 00:00:00 UTC
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Dave & Buster's (PLAY) Q3 Earnings Top Estimates, Revenues Lag
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DCOMP
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https://www.nasdaq.com/articles/dave-busters-play-q3-earnings-top-estimates-revenues-lag
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nan
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Dave & Buster's Entertainment, Inc. PLAY reported mixed third-quarter fiscal 2023 results, with earnings beating the Zacks Consensus Estimate and revenues missing the same. Both metrics declined on a year-over-year basis. Following the results, the company’s shares dropped 3.9% during the after-hours trading session on Dec 5.
Earnings & Revenues in Detail
During the fiscal first quarter, the company reported adjusted earnings per share (EPS) of 1 cent, against the Zacks Consensus Estimate of a loss of 22 cents. In the year-ago quarter, it reported an adjusted EPS of 10 cents.
Quarterly revenues of $466.9 million missed the consensus mark of $472 million. In the prior-year quarter, the company reported revenues of $481.2 million. A complex macroeconomic backdrop and difficult prior-year comparisons (on account of robust post-COVID demand) added to the negatives.
Dave & Buster's Entertainment, Inc. Price, Consensus and EPS Surprise
Dave & Buster's Entertainment, Inc. price-consensus-eps-surprise-chart | Dave & Buster's Entertainment, Inc. Quote
Food and Beverage revenues (35.3% of total revenues in the reported quarter) dropped 0.6% year over year to $164.9 million. Entertainment revenues (64.7%) declined 4.2% year over year to $302 million.
Comps Details
During the quarter under discussion, pro-forma comparable store sales (including Main Event branded stores) declined 7.8% year over year but increased 8.1% from 2019 levels.
Operating Highlights
During the quarter under discussion, operating income amounted to $18.6 million compared with $30.1 million reported in the prior-year quarter. The operating margin was 3.9% compared with 6.3% reported in the year-ago quarter. Our estimate for the metric was 2%.
Adjusted EBITDA came in at $81.6 million compared with $86.1 million reported in the year-earlier quarter.
Balance Sheet
As of Oct 29, 2023, cash and cash equivalents were $64 million compared with $181.6 million as of Jan 29, 2023.
During the fiscal third quarter, the company repurchased nearly 2.8 million shares for an aggregate cost of $100 million. As of Oct 29, the company had $100 million available for the buyback program.
At the fiscal third-quarter end, net long-term debt totaled $1,281.3 million compared with $1,222.7 million at the end of fourth-quarter fiscal 2022.
Zacks Rank & Key Picks
Dave & Buster currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the Zacks Retail-Wholesale sector include:
Wingstop Inc. WING sports a Zacks Rank #1 (Strong Buy). It has a trailing four-quarter earnings surprise of 28.9%, on average. The stock has surged 62.6% in the past year. You can see the complete list of today’s Zacks Rank #1 stocks here.
The Zacks Consensus Estimate for Wingstop’s 2024 sales and EPS suggests rises of 15.6% and 17.2%, respectively, from the year-ago period’s levels.
Brinker International, Inc. EAT sports a Zacks Rank #1. It has a trailing four-quarter earnings surprise of 223.6%, on average. Shares of EAT have increased 14.8% in the past year.
The Zacks Consensus Estimate for EAT’s fiscal 2024 sales and EPS indicates a 5.1% and a 26.2% rise, respectively, from the year-ago period’s levels.
FAT Brands Inc. FAT currently carries a Zacks Rank #2. It has a trailing four-quarter earnings surprise of 36.6%, on average. The stock has increased 0.3% in the past year.
The Zacks Consensus Estimate for FAT Brands’ 2024 sales and EPS suggests an increase of 35.6% and 27.4%, respectively, from the year-ago period’s levels.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
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
Brinker International, Inc. (EAT) : Free Stock Analysis Report
Dave & Buster's Entertainment, Inc. (PLAY) : Free Stock Analysis Report
Wingstop Inc. (WING) : Free Stock Analysis Report
FAT Brands Inc. (FAT) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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PLAY reported mixed third-quarter fiscal 2023 results, with earnings beating the Zacks Consensus Estimate and revenues missing the same. A complex macroeconomic backdrop and difficult prior-year comparisons (on account of robust post-COVID demand) added to the negatives. Zacks Reveals ChatGPT "Sleeper" Stock One little-known company is at the heart of an especially brilliant Artificial Intelligence sector.
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Earnings & Revenues in Detail During the fiscal first quarter, the company reported adjusted earnings per share (EPS) of 1 cent, against the Zacks Consensus Estimate of a loss of 22 cents. Dave & Buster's Entertainment, Inc. Price, Consensus and EPS Surprise Dave & Buster's Entertainment, Inc. price-consensus-eps-surprise-chart | Dave & Buster's Entertainment, Inc. Quote Food and Beverage revenues (35.3% of total revenues in the reported quarter) dropped 0.6% year over year to $164.9 million. Click to get this free report Brinker International, Inc. (EAT) : Free Stock Analysis Report Dave & Buster's Entertainment, Inc. (PLAY) : Free Stock Analysis Report Wingstop Inc. (WING) : Free Stock Analysis Report FAT Brands Inc. (FAT) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Earnings & Revenues in Detail During the fiscal first quarter, the company reported adjusted earnings per share (EPS) of 1 cent, against the Zacks Consensus Estimate of a loss of 22 cents. Dave & Buster's Entertainment, Inc. Price, Consensus and EPS Surprise Dave & Buster's Entertainment, Inc. price-consensus-eps-surprise-chart | Dave & Buster's Entertainment, Inc. Quote Food and Beverage revenues (35.3% of total revenues in the reported quarter) dropped 0.6% year over year to $164.9 million. Click to get this free report Brinker International, Inc. (EAT) : Free Stock Analysis Report Dave & Buster's Entertainment, Inc. (PLAY) : Free Stock Analysis Report Wingstop Inc. (WING) : Free Stock Analysis Report FAT Brands Inc. (FAT) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Earnings & Revenues in Detail During the fiscal first quarter, the company reported adjusted earnings per share (EPS) of 1 cent, against the Zacks Consensus Estimate of a loss of 22 cents. In the prior-year quarter, the company reported revenues of $481.2 million. Entertainment revenues (64.7%) declined 4.2% year over year to $302 million.
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3a4bc04e-8a4e-4b3a-968e-bd34e565b4f8
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714562.0
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2023-12-06 00:00:00 UTC
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Alphabet (GOOGL) to Launch Sports Widget for Android Users
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DCOMP
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https://www.nasdaq.com/articles/alphabet-googl-to-launch-sports-widget-for-android-users
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Alphabet’s GOOGL Google is adding a Sports widget to its Google app, providing a comprehensive view of teams' upcoming, live, or past matches.
Further, the widget boasts features like a Knowledge Graph card, resizing for enhanced visibility, a “Last updated” notification feature, and separate sections for “Your games” and “Trending games.”
Additionally, the widget offers a “Recommendations” feature to provide users with games, teams, and league choices based on their search activity.
Alphabet is expected to gain solid traction across Android users on the back of its latest move.
Moreover, this new expansion on the Search app will bolster Google’s search business.
Alphabet Inc. Price and Consensus
Alphabet Inc. price-consensus-chart | Alphabet Inc. Quote
Expanding Android Offerings
Apart from the latest move, Google recently introduced a notification feature to its earlier added birthday reminder feature for Google Contacts, allowing users to receive notifications for any "Significant date" added to their contacts through the overflow menu or by scrolling down the bottom.
Further, users can create new reminders with birthdays, anniversaries and custom labels with increments available two days, seven days and two weeks before.
Additionally, Google added new features to its Google Messages app, including a "plus" shortcut, offering Android users a redesign, including a left-facing compose field and an emoji shortcut, along with Magic Compose, a new Gallery icon, and a plus menu at the right.
Also, Alphabet introduced an Individual Contact Android widget for Google Contacts, which allows users to customize their profile image, calling and messaging shortcuts, and contact names.
Moreover, the company added local time and weather information to entries with addresses on Google Contacts. The feature displays the city, current time, temperature and condition visually and textually.
Wrapping Up
We believe that all the above-mentioned endeavors will likely strengthen Alphabet’s Android offerings, which, in turn, will boost its Google Services segment, which accounts for the majority of total revenues.
In third-quarter 2023, Google Services’ revenues increased 10.8% year over year to $67.99 billion, accounting for 88.6% of total revenues.
Our model projects fourth-quarter 2023 Google Services revenues at $72.79 billion, indicating growth of 7.3% from 2022.
Strength in the underlined segment will likely aid its overall financial performance in the upcoming period. This, in turn, will instill investor optimism in the stock.
Our model estimate for fourth-quarter 2023 total revenues is pegged at $81.95 billion, indicating year-over-year growth of 7.8%.
Alphabet has gained 48.5% on a year-to-date basis compared with the industry’s rise of 47.6%.
Zacks Rank & Stocks to Consider
Currently, Alphabet carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader technology sector are Badger Meter BMI, Arista Networks ANET and Adobe ADBE. While Badger Meter sports a Zacks Rank #1 (Strong Buy), Arista Networks and Adobe carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of Badger Meter have gained 37.1% in the year-to-date period. BMI’s long-term earnings growth rate is currently projected at 20.39%.
Shares of Arista Networks have surged 77.8% in the year-to-date period. The long-term earnings growth rate for ANET is currently projected at 19.77%.
Shares of Adobe have gained 84.3% in the year-to-date period. ADBE’s long-term earnings growth rate is currently projected at 13.54%.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
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
Badger Meter, Inc. (BMI) : Free Stock Analysis Report
Adobe Inc. (ADBE) : Free Stock Analysis Report
Alphabet Inc. (GOOGL) : Free Stock Analysis Report
Arista Networks, Inc. (ANET) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Additionally, the widget offers a “Recommendations” feature to provide users with games, teams, and league choices based on their search activity. Wrapping Up We believe that all the above-mentioned endeavors will likely strengthen Alphabet’s Android offerings, which, in turn, will boost its Google Services segment, which accounts for the majority of total revenues. Some better-ranked stocks in the broader technology sector are Badger Meter BMI, Arista Networks ANET and Adobe ADBE.
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Alphabet Inc. Price and Consensus Alphabet Inc. price-consensus-chart | Alphabet Inc. Quote Expanding Android Offerings Apart from the latest move, Google recently introduced a notification feature to its earlier added birthday reminder feature for Google Contacts, allowing users to receive notifications for any "Significant date" added to their contacts through the overflow menu or by scrolling down the bottom. While Badger Meter sports a Zacks Rank #1 (Strong Buy), Arista Networks and Adobe carry a Zacks Rank #2 (Buy). Click to get this free report Badger Meter, Inc. (BMI) : Free Stock Analysis Report Adobe Inc. (ADBE) : Free Stock Analysis Report Alphabet Inc. (GOOGL) : Free Stock Analysis Report Arista Networks, Inc. (ANET) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Alphabet’s GOOGL Google is adding a Sports widget to its Google app, providing a comprehensive view of teams' upcoming, live, or past matches. Alphabet Inc. Price and Consensus Alphabet Inc. price-consensus-chart | Alphabet Inc. Quote Expanding Android Offerings Apart from the latest move, Google recently introduced a notification feature to its earlier added birthday reminder feature for Google Contacts, allowing users to receive notifications for any "Significant date" added to their contacts through the overflow menu or by scrolling down the bottom. Click to get this free report Badger Meter, Inc. (BMI) : Free Stock Analysis Report Adobe Inc. (ADBE) : Free Stock Analysis Report Alphabet Inc. (GOOGL) : Free Stock Analysis Report Arista Networks, Inc. (ANET) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Alphabet’s GOOGL Google is adding a Sports widget to its Google app, providing a comprehensive view of teams' upcoming, live, or past matches. Alphabet Inc. Price and Consensus Alphabet Inc. price-consensus-chart | Alphabet Inc. Quote Expanding Android Offerings Apart from the latest move, Google recently introduced a notification feature to its earlier added birthday reminder feature for Google Contacts, allowing users to receive notifications for any "Significant date" added to their contacts through the overflow menu or by scrolling down the bottom. Some better-ranked stocks in the broader technology sector are Badger Meter BMI, Arista Networks ANET and Adobe ADBE.
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86e0e3df-e41c-44b4-b4cb-0060b9938a85
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714563.0
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2023-12-06 00:00:00 UTC
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Cabot (CBT) Up 6% Since Last Earnings Report: Can It Continue?
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DCOMP
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https://www.nasdaq.com/articles/cabot-cbt-up-6-since-last-earnings-report%3A-can-it-continue
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nan
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nan
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A month has gone by since the last earnings report for Cabot (CBT). Shares have added about 6% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Cabot due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers.
Cabot’s Q4 Earnings Beat Estimates, Revenues Miss
Cabot recorded a profit of $234 million or $4.10 per share in the fourth quarter of fiscal 2023 (ended Sep 30, 2023) compared with $94 million or $1.64 per share in the year-ago quarter.
Barring one-time items, adjusted earnings per share (EPS) were $1.65 in the reported quarter, up from $1.55 in the year-ago quarter. The figure topped the Zacks Consensus Estimate of $1.47.
Net sales fell around 13.2% year over year to $965 million in the quarter. It missed the Zacks Consensus Estimate of $1,019.9 million.
Segment Highlights
Reinforcement Materials’ sales declined around 10.9% year over year to $624 million in the reported quarter. It missed the Zacks Consensus Estimate of $670 million. This decline is a result of reduced volumes in the Americas and EMEA, which were somewhat offset by increased volumes in Asia, particularly China. Earnings of this segment increased primarily due to higher unit margins from stronger pricing and product mix in the calendar year 2023 customer agreements.
Sales in the Performance Chemicals unit went down around 9.5% year over year to $306 million in the reported quarter. It missed the Zacks Consensus Estimate of $337 million. Earnings fell primarily due to lower unit margins from a less favorable product mix in the specialty carbons and fumed metal oxides product lines, as well as pricing pressures in the fumed metal oxides and battery materials product lines.
Fiscal 2023 Results
Cabot's net income for fiscal 2023 was $445 million or $7.73 per share compared with a profit of $209 million or $3.62 per share a year ago. The adjusted EPS for fiscal 2023 was $5.38.
Net sales fell around 9% year over year to $3,931 million in fiscal 2023.
Financial Position
The company had a cash balance of $238 million at the end of the fourth quarter of fiscal 2023. Cash flows from operating activities were $138 million in the fourth quarter of fiscal 2023. Capital expenditures totaled $78 million in the reported quarter. During the fourth quarter, cash was used for dividend payments of $23 million and share repurchases of $50 million.
Outlook
Cabot expects the challenging macroeconomic situation to continue in fiscal 2024, particularly in the near term. Despite the challenging environment, the company expects adjusted EPS in the range of $6.30-$6.80 in fiscal 2024, led by sustained growth in the Reinforcement Materials unit. Furthermore, assuming stable feedstock prices, the company projects solid operating cash flow driven by strong EBITDA.
How Have Estimates Been Moving Since Then?
In the past month, investors have witnessed an upward trend in fresh estimates.
The consensus estimate has shifted 11.29% due to these changes.
VGM Scores
Currently, Cabot has a great Growth Score of A, a grade with the same score on the momentum front. Following the exact same course, the stock was allocated a grade of A on the value side, putting it in the top 20% for this investment strategy.
Overall, the stock has an aggregate VGM Score of A. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been trending upward for the stock, and the magnitude of this revision looks promising. Notably, Cabot has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Performance of an Industry Player
Cabot is part of the Zacks Chemical - Diversified industry. Over the past month, Huntsman (HUN), a stock from the same industry, has gained 5%. The company reported its results for the quarter ended September 2023 more than a month ago.
Huntsman reported revenues of $1.51 billion in the last reported quarter, representing a year-over-year change of -25.1%. EPS of $0.15 for the same period compares with $0.71 a year ago.
Huntsman is expected to post a loss of $0.05 per share for the current quarter, representing a year-over-year change of -225%. Over the last 30 days, the Zacks Consensus Estimate has changed -835.1%.
Huntsman has a Zacks Rank #4 (Sell) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of C.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
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Cabot Corporation (CBT) : Free Stock Analysis Report
Huntsman Corporation (HUN) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers. Earnings of this segment increased primarily due to higher unit margins from stronger pricing and product mix in the calendar year 2023 customer agreements. Despite the challenging environment, the company expects adjusted EPS in the range of $6.30-$6.80 in fiscal 2024, led by sustained growth in the Reinforcement Materials unit.
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Cabot’s Q4 Earnings Beat Estimates, Revenues Miss Cabot recorded a profit of $234 million or $4.10 per share in the fourth quarter of fiscal 2023 (ended Sep 30, 2023) compared with $94 million or $1.64 per share in the year-ago quarter. Earnings fell primarily due to lower unit margins from a less favorable product mix in the specialty carbons and fumed metal oxides product lines, as well as pricing pressures in the fumed metal oxides and battery materials product lines. Click to get this free report Cabot Corporation (CBT) : Free Stock Analysis Report Huntsman Corporation (HUN) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Cabot’s Q4 Earnings Beat Estimates, Revenues Miss Cabot recorded a profit of $234 million or $4.10 per share in the fourth quarter of fiscal 2023 (ended Sep 30, 2023) compared with $94 million or $1.64 per share in the year-ago quarter. Fiscal 2023 Results Cabot's net income for fiscal 2023 was $445 million or $7.73 per share compared with a profit of $209 million or $3.62 per share a year ago. Click to get this free report Cabot Corporation (CBT) : Free Stock Analysis Report Huntsman Corporation (HUN) : Free Stock Analysis Report To read this article on Zacks.com click here.
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A month has gone by since the last earnings report for Cabot (CBT). Cabot’s Q4 Earnings Beat Estimates, Revenues Miss Cabot recorded a profit of $234 million or $4.10 per share in the fourth quarter of fiscal 2023 (ended Sep 30, 2023) compared with $94 million or $1.64 per share in the year-ago quarter. Fiscal 2023 Results Cabot's net income for fiscal 2023 was $445 million or $7.73 per share compared with a profit of $209 million or $3.62 per share a year ago.
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714564.0
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2023-12-06 00:00:00 UTC
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Why Is Teradata (TDC) Up 4.3% Since Last Earnings Report?
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DCOMP
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https://www.nasdaq.com/articles/why-is-teradata-tdc-up-4.3-since-last-earnings-report
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nan
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nan
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A month has gone by since the last earnings report for Teradata (TDC). Shares have added about 4.3% in that time frame, underperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Teradata due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers.
Teradata Q3 Earnings Beat Estimates, Revenues Rise Y/Y
Teradata reported third-quarter 2023 non-GAAP earnings of 42 cents per share, which beat the Zacks Consensus Estimate by 2.44%. The bottom line increased 35.5% year over year.
Revenues of $438 million surpassed the Zacks Consensus Estimate of $432 million. The figure increased 5% year over year on a reported basis and 6% on a constant-currency (cc) basis.
The upside can be attributed to growth in recurring revenue, with a robust surge in cloud revenues leading the way. Also, strong momentum across the Americas and Europe, the Middle East & Africa (EMEA) was a plus.
Total annual recurring revenues (“ARR”) at the third quarter’s end increased 11% year over year to $1.524 billion. The figure increased by 9% at cc.
Public cloud ARR surged 63% on a reported basis and 61% at cc year over year to $454 million.
Solid customer demand for Teradata Vantage Cloud was a positive. The cloud net expansion rate was 123%.
Top Line in Detail
Recurring revenues (contributing 82.2% to revenues) increased 9% year over year on a reported basis (increased 10% at cc) to $360 million, surpassing the Zacks Consensus Estimate of $353 million.
Perpetual software license and hardware revenues (1.6% of revenues) were down 50% year over year (down 50% at cc) to $7 million, missing the Zacks Consensus Estimate of $9.10 million.
Consulting services’ revenues (16.2% of revenues) dropped 1% year over year (up 6% at cc) to $71 million, beating the Zacks Consensus Estimate of $70 million.
Revenues from the Americas increased 9% year over year on a reported basis (increased 11% at cc) to $264 million. EMEA revenues rose 8% year over year (up 3% at cc) to $113 million.
Revenues from the APJ region were down 13% year over year (down 8% at cc) to $61 million.
Operating Details
The gross margin on a non-GAAP basis was 60.3%, contracting 230 basis points (bps) year over year.
Selling, general & administrative (SG&A) expenses increased 0.6% year over year to $156 million.
Research & development (R&D) expenses were $76 million, declining 3.8% year over year.
As a percentage of revenues, SG&A contracted 160 bps year over year to 35.6%, whereas
R&D contracted 160 bps to 17.4%.
The non-GAAP operating margin was 14.4%, up 140 bps year over year.
Balance Sheet
As of Sep 30, 2023, Teradata had cash and cash equivalents of $348 million compared with $504 million as of Jun 30, 2023.
Long-term debt Sep 30, 2023 was $486 million compared with $492 million as of Jun 30, 2023.
In the third quarter, Teradata generated $41 million in cash from operating activities compared with the previous quarter’s $49 million.
The company generated a free cash flow of $36 million in the reported quarter.
Share repurchases in the third quarter amounted to $141 million.
Guidance
For fourth-quarter 2023, non-GAAP earnings are expected to be between 50 and 54 cents per share.
For 2023, the company kept its guidance for non-GAAP earnings at $2.01-$2.05.
Public cloud ARR is projected to increase 53-57% on a year-over-year basis.
Total ARR is expected to exhibit growth of 6-8% from the 2022 level.
Teradata expects recurring revenues to increase 4-7% year over year.
TDC projects total revenues to be up 1-4% from the year-ago reported figure. The consensus mark for 2023 revenues is pegged at $1.83 billion.
How Have Estimates Been Moving Since Then?
In the past month, investors have witnessed an upward trend in estimates review.
The consensus estimate has shifted 29.03% due to these changes.
VGM Scores
At this time, Teradata has an average Growth Score of C, though it is lagging a bit on the Momentum Score front with a D. Following the exact same course, the stock was allocated a grade of D on the value side, putting it in the bottom 40% for this investment strategy.
Overall, the stock has an aggregate VGM Score of D. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been trending upward for the stock, and the magnitude of these revisions looks promising. Notably, Teradata has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Performance of an Industry Player
Teradata is part of the Zacks Computer- Storage Devices industry. Over the past month, Western Digital (WDC), a stock from the same industry, has gained 8.5%. The company reported its results for the quarter ended September 2023 more than a month ago.
Western Digital reported revenues of $2.75 billion in the last reported quarter, representing a year-over-year change of -26.4%. EPS of -$1.76 for the same period compares with $0.20 a year ago.
For the current quarter, Western Digital is expected to post a loss of $1.15 per share, indicating a change of -173.8% from the year-ago quarter. The Zacks Consensus Estimate remained unchanged over the last 30 days.
Western Digital has a Zacks Rank #3 (Hold) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of F.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
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
Teradata Corporation (TDC) : Free Stock Analysis Report
Western Digital Corporation (WDC) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Will the recent positive trend continue leading up to its next earnings release, or is Teradata due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers. As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys."
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Teradata Q3 Earnings Beat Estimates, Revenues Rise Y/Y Teradata reported third-quarter 2023 non-GAAP earnings of 42 cents per share, which beat the Zacks Consensus Estimate by 2.44%. Top Line in Detail Recurring revenues (contributing 82.2% to revenues) increased 9% year over year on a reported basis (increased 10% at cc) to $360 million, surpassing the Zacks Consensus Estimate of $353 million. Click to get this free report Teradata Corporation (TDC) : Free Stock Analysis Report Western Digital Corporation (WDC) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Top Line in Detail Recurring revenues (contributing 82.2% to revenues) increased 9% year over year on a reported basis (increased 10% at cc) to $360 million, surpassing the Zacks Consensus Estimate of $353 million. Perpetual software license and hardware revenues (1.6% of revenues) were down 50% year over year (down 50% at cc) to $7 million, missing the Zacks Consensus Estimate of $9.10 million. Consulting services’ revenues (16.2% of revenues) dropped 1% year over year (up 6% at cc) to $71 million, beating the Zacks Consensus Estimate of $70 million.
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Revenues of $438 million surpassed the Zacks Consensus Estimate of $432 million. Total annual recurring revenues (“ARR”) at the third quarter’s end increased 11% year over year to $1.524 billion. Consulting services’ revenues (16.2% of revenues) dropped 1% year over year (up 6% at cc) to $71 million, beating the Zacks Consensus Estimate of $70 million.
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2023-12-06 00:00:00 UTC
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Why Is Axsome (AXSM) Up 8.7% Since Last Earnings Report?
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DCOMP
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https://www.nasdaq.com/articles/why-is-axsome-axsm-up-8.7-since-last-earnings-report
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nan
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A month has gone by since the last earnings report for Axsome Therapeutics (AXSM). Shares have added about 8.7% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Axsome due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers.
Axsome’s Q3 Loss Widens, Revenues Surpass Estimates
Axsome incurred an adjusted loss $1.32 per share in the third quarter of 2023, wider than the Zacks Consensus Estimate of a loss of $1.24. AXSM had reported a loss of $1.07 per share in the year-ago period.
However, the company’s revenues of $57.8 million beat the Zacks Consensus Estimate of $55 million. AXSM had recorded revenues of $16.8 million in the year-ago period.
Quarter in Detail
Total revenues consist of product revenues from Sunosi, Auvelity and royalty revenues.
Net product revenues were $57.1 million in the quarter compared with $16.8 million in the year-ago period. The figure beat our model estimate of $52.5 million.
Auvelity recorded sales of $37.7 million, up 36% from the previous quarter’s level, due to the products’ timely launch. There were no Auvelity sales in the comparable period of 2022. Sales of the drug beat our model estimate of $32.8 million.
Notably, 69,000 prescriptions were recorded for Auvelity in the reported quarter, reflecting a sequential increase of 30%.
Sunosi’s net product sales were $20.1 million, up 20% from the year-ago quarter’s level. Total prescriptions for Sunosi in the United States grew 16% year over year and 5% sequentially.
Royalty revenues totaled $0.7 million for the quarter, reflecting royalties Sunosi sales.
Research and development expenses (including stock-based compensation) amounted to $28.8 million, up almost 93.2% from the year-ago quarter’s level. The increase was due to higher costs associated with clinical studies, especially the label expansion study of Sunosi, as well as higher personnel and post-marketing commitments for Sunosi and Auvelity.
Selling, general and administrative expenses (including stock-based compensation) totaled $83.2 million, up almost 103.4% year over year. The significant increase was due to higher commercial activities for Sunosi and Auvelity.
As of Sep 30, 2023, Axsome had cash and cash equivalents worth $416.6 million compared with $437.1 million as of Jun 30, 2023.
2023 Guidance
Management believes that its cash balance of $416.6 million (as of September 2023-end) is enough to fund future operations into cash flow positivity.
How Have Estimates Been Moving Since Then?
In the past month, investors have witnessed a downward trend in estimates review.
VGM Scores
Currently, Axsome has a subpar Growth Score of D, a grade with the same score on the momentum front. Charting a somewhat similar path, the stock was allocated a grade of F on the value side, putting it in the bottom 20% quintile for this investment strategy.
Overall, the stock has an aggregate VGM Score of F. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Notably, Axsome has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Performance of an Industry Player
Axsome is part of the Zacks Medical - Biomedical and Genetics industry. Over the past month, Blueprint Medicines (BPMC), a stock from the same industry, has gained 20.9%. The company reported its results for the quarter ended September 2023 more than a month ago.
Blueprint Medicines reported revenues of $56.57 million in the last reported quarter, representing a year-over-year change of -14.3%. EPS of -$2.20 for the same period compares with -$2.23 a year ago.
Blueprint Medicines is expected to post a loss of $2.02 per share for the current quarter, representing a year-over-year change of +23.8%. Over the last 30 days, the Zacks Consensus Estimate remained unchanged.
Blueprint Medicines has a Zacks Rank #3 (Hold) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of F.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
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
Axsome Therapeutics, Inc. (AXSM) : Free Stock Analysis Report
Blueprint Medicines Corporation (BPMC) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers. Charting a somewhat similar path, the stock was allocated a grade of F on the value side, putting it in the bottom 20% quintile for this investment strategy. As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys."
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Royalty revenues totaled $0.7 million for the quarter, reflecting royalties Sunosi sales. Blueprint Medicines reported revenues of $56.57 million in the last reported quarter, representing a year-over-year change of -14.3%. Click to get this free report Axsome Therapeutics, Inc. (AXSM) : Free Stock Analysis Report Blueprint Medicines Corporation (BPMC) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Axsome’s Q3 Loss Widens, Revenues Surpass Estimates Axsome incurred an adjusted loss $1.32 per share in the third quarter of 2023, wider than the Zacks Consensus Estimate of a loss of $1.24. However, the company’s revenues of $57.8 million beat the Zacks Consensus Estimate of $55 million. Click to get this free report Axsome Therapeutics, Inc. (AXSM) : Free Stock Analysis Report Blueprint Medicines Corporation (BPMC) : Free Stock Analysis Report To read this article on Zacks.com click here.
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A month has gone by since the last earnings report for Axsome Therapeutics (AXSM). However, the company’s revenues of $57.8 million beat the Zacks Consensus Estimate of $55 million. Over the past month, Blueprint Medicines (BPMC), a stock from the same industry, has gained 20.9%.
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b81c58a0-a74b-47a5-a5ea-450a6ef051d5
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714566.0
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2023-12-06 00:00:00 UTC
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Why Is Halozyme Therapeutics (HALO) Up 2.8% Since Last Earnings Report?
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DCOMP
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https://www.nasdaq.com/articles/why-is-halozyme-therapeutics-halo-up-2.8-since-last-earnings-report
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nan
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nan
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A month has gone by since the last earnings report for Halozyme Therapeutics (HALO). Shares have added about 2.8% in that time frame, underperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Halozyme Therapeutics due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts.
Halozyme’s Q3 Earnings Top Estimates, Revenues Lag
Halozyme delivered third-quarter 2023 adjusted earnings of 75 cents per share, which beat the Zacks Consensus Estimate of 71 cents. The company had recorded earnings of 74 cents per share in the year-ago period.
Total revenues increased 3.4% year over year to $216 million in the third quarter. This was primarily driven by continued growth in Xyosted and Halozyme’s proprietary Enhanze technology, along with an increase in royalty revenues.
The addition of product sales following the acquisition of Antares Pharma in May 2022 and higher royalty payments from J&J for subcutaneous Darzalex (daratumumab) and Roche’s Phesgo boosted the top line in the third quarter.
Revenues, however, missed the Zacks Consensus Estimate of $219 million in the third quarter of 2023.
Quarterly Highlights
Halozyme’s top line comprises product sales, royalties and revenues under collaborative agreements.
Royalty revenues totaled $114.4 million in the third quarter, up almost 15% from the year-ago quarter’s level. This was mainly due to robust demand for J&J’s subcutaneous Darzalex and Roche’s Phesgo. Royalty revenues accounted for nearly 53% of the company’s total revenues during the reported quarter. Royalty revenues missed our model estimate of $115.7 million.
Product sales came in at $86.6 million, about 41% higher than the year-ago quarter’s figure. HALO supplies API to ENHANZE partners like J&J and Roche, contributing to product revenues. Product sales beat our model estimate of $70.5 million.
Revenues under collaborative agreements were $15 million, down almost 68.7% from the year-ago quarter’s level. Collaboration revenues fell short of our model estimate of $37.1 million.
Adjusted EBITDA was $114.9 million in the third quarter, marking a 4.3% increase from the prior-year quarter.
Adjusted net income decreased 2.7% to $100.5 million in the reported quarter.
Halozyme had cash, cash equivalents and marketable securities of $483.3 million as of Sep 30, 2023, compared with $348.3 million as of Jun 30, 2023.
2023 Guidance Updated
Halozyme maintained its previously issued revenue guidance for full-year 2023.
The company continues to expect total revenues in the range of $825-$845 million for 2023.
Revenues from royalties are anticipated in the range of $445-$455 million (unchanged).
However, the EBITDA guidance was raised to $430-$445 million from $420-$440 million, excluding amortization costs, implying year-over-year growth of 37% to 41%.
The company expects adjusted earnings in the range of $2.70-$2.80 per share, up from $2.65-$2.75 per share (excluding stock-based compensation expenses), indicating an improvement of 22% to 27% year over year. Halozyme’s earnings per share guidance does not consider the impact of potential future share repurchases.
How Have Estimates Been Moving Since Then?
It turns out, fresh estimates have trended upward during the past month.
VGM Scores
At this time, Halozyme Therapeutics has a nice Growth Score of B, however its Momentum Score is doing a bit better with an A. Charting a somewhat similar path, the stock was allocated a grade of B on the value side, putting it in the top 40% for this investment strategy.
Overall, the stock has an aggregate VGM Score of A. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been trending upward for the stock, and the magnitude of these revisions looks promising. Notably, Halozyme Therapeutics has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Performance of an Industry Player
Halozyme Therapeutics is part of the Zacks Medical - Biomedical and Genetics industry. Over the past month, Karuna Therapeutics, Inc. (KRTX), a stock from the same industry, has gained 15.9%. The company reported its results for the quarter ended September 2023 more than a month ago.
Karuna Therapeutics, Inc. reported revenues of $0 million in the last reported quarter, representing a year-over-year change of -100%. EPS of -$3.16 for the same period compares with -$2.38 a year ago.
For the current quarter, Karuna Therapeutics, Inc. is expected to post a loss of $2.63 per share, indicating a change of -18.5% from the year-ago quarter. The Zacks Consensus Estimate has changed +0.8% over the last 30 days.
The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for Karuna Therapeutics, Inc. Also, the stock has a VGM Score of F.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
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
Halozyme Therapeutics, Inc. (HALO) : Free Stock Analysis Report
Karuna Therapeutics, Inc. (KRTX) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts. The addition of product sales following the acquisition of Antares Pharma in May 2022 and higher royalty payments from J&J for subcutaneous Darzalex (daratumumab) and Roche’s Phesgo boosted the top line in the third quarter. As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys."
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Halozyme’s Q3 Earnings Top Estimates, Revenues Lag Halozyme delivered third-quarter 2023 adjusted earnings of 75 cents per share, which beat the Zacks Consensus Estimate of 71 cents. The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for Karuna Therapeutics, Inc. Also, the stock has a VGM Score of F. Zacks Reveals ChatGPT "Sleeper" Stock One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. Click to get this free report Halozyme Therapeutics, Inc. (HALO) : Free Stock Analysis Report Karuna Therapeutics, Inc. (KRTX) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Halozyme’s Q3 Earnings Top Estimates, Revenues Lag Halozyme delivered third-quarter 2023 adjusted earnings of 75 cents per share, which beat the Zacks Consensus Estimate of 71 cents. Karuna Therapeutics, Inc. reported revenues of $0 million in the last reported quarter, representing a year-over-year change of -100%. Click to get this free report Halozyme Therapeutics, Inc. (HALO) : Free Stock Analysis Report Karuna Therapeutics, Inc. (KRTX) : Free Stock Analysis Report To read this article on Zacks.com click here.
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A month has gone by since the last earnings report for Halozyme Therapeutics (HALO). Royalty revenues totaled $114.4 million in the third quarter, up almost 15% from the year-ago quarter’s level. The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for Karuna Therapeutics, Inc. Also, the stock has a VGM Score of F. Zacks Reveals ChatGPT "Sleeper" Stock One little-known company is at the heart of an especially brilliant Artificial Intelligence sector.
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c9e5cc2b-788e-41dc-8387-8486ef0f4af9
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714567.0
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2023-12-06 00:00:00 UTC
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Amdocs' (DOX) Vubiquity to Fuel A+E Networks' VOD Services
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DCOMP
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https://www.nasdaq.com/articles/amdocs-dox-vubiquity-to-fuel-ae-networks-vod-services
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nan
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nan
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Amdocs DOX announced that its Vubiquity platform has been selected by A+E Networks to handle the latter’s Video-on-Demand (VOD) Transport & Content Distribution Services. Vubiquity specializes in managing and distributing various media, including movies and TV shows, across platforms like VOD, direct-to-consumer streaming services via over-the-top platforms and broadcast networks.
DOX’s Vubiquity is set to use MetaVU technology, which is a cloud-based metadata management platform. MetaVU aggregates data from diverse sources like Gracenote, Rotten Tomato and IMDB to provide extensive genres, keywords and mood categories, enabling intelligent recommendations that, in turn, increase the engagement rate of the viewers. These functionalities are integrated with a user-friendly interface and Application Programming Interface, ensuring effortless management.
Vubiquity intends to use this technology to deploy content across a range of VOD platforms, encompassing streaming services and pay-TV providers. A+E Networks aims to deploy this solution across its primary brands, such as A&E, Lifetime, The History Channel, LMN and FYI.
Amdocs Limited Price and Consensus
Amdocs Limited price-consensus-chart | Amdocs Limited Quote
Amdocs is capitalizing on a growing partner base. Apart from its collaboration with A+E Networks, it has collaborated with Disney to provide direct-to-consumer support. Additionally, DOX was selected by Lionsgate (LGF.A) to transition the latter’s content library to a cloud-based platform.
Working alongside Lionsgate, Amdocs aims to convert LGF.A’s collection of 18,000 film and TV titles into a cloud-based content library, enhancing search capabilities and facilitating targeted content distribution across global regions.
Nevertheless, DOX is significantly affected by the volatility in foreign currency exchange rates. On its fourth-quarter fiscal 2023 earnings call, the company indicated that it foresees ongoing effects of foreign-exchange fluctuations on both revenues and non-GAAP net interest, among other expenses.
Zacks Rank & Stocks to Consider
Currently, Amdocs has a Zacks Rank #4 (Sell), while Lionsgate carries a Zacks Rank #3 (Hold). Shares of DOX have declined 7.3%, while shares of LGF.A have gained 68.7% year to date.
Some better-ranked stocks from the broader technology sector are NetEase NTES and Dropbox DBX, each flaunting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for NetEase's fourth-quarter 2023 earnings has been revised upward by 10 cents to $1.83 per share in the past 30 days. For fiscal 2023, earnings estimates have increased by 30 cents to $7.26 per share in the past 30 days.
NTES' earnings beat the Zacks Consensus Estimate in three of the trailing four quarters, while missing the same on one occasion, the average surprise being 16.63%. Shares of NTES have gained 41.4% year to date.
The Zacks Consensus Estimate for Dropbox's fourth-quarter 2023 earnings has remained unchanged for the past 90 days at 48 cents per share. For fiscal 2023, earnings estimates have been revised 7 cents upward to $1.96 per share in the past 30 days.
DBX’s earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 13.14%. Shares of DBX have climbed 26.6% year to date.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
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
Amdocs Limited (DOX) : Free Stock Analysis Report
NetEase, Inc. (NTES) : Free Stock Analysis Report
Lions Gate Entertainment Corp. (LGF.A) : Free Stock Analysis Report
Dropbox, Inc. (DBX) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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MetaVU aggregates data from diverse sources like Gracenote, Rotten Tomato and IMDB to provide extensive genres, keywords and mood categories, enabling intelligent recommendations that, in turn, increase the engagement rate of the viewers. On its fourth-quarter fiscal 2023 earnings call, the company indicated that it foresees ongoing effects of foreign-exchange fluctuations on both revenues and non-GAAP net interest, among other expenses. Some better-ranked stocks from the broader technology sector are NetEase NTES and Dropbox DBX, each flaunting a Zacks Rank #1 (Strong Buy) at present.
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The Zacks Consensus Estimate for NetEase's fourth-quarter 2023 earnings has been revised upward by 10 cents to $1.83 per share in the past 30 days. For fiscal 2023, earnings estimates have been revised 7 cents upward to $1.96 per share in the past 30 days. Click to get this free report Amdocs Limited (DOX) : Free Stock Analysis Report NetEase, Inc. (NTES) : Free Stock Analysis Report Lions Gate Entertainment Corp. (LGF.A) : Free Stock Analysis Report Dropbox, Inc. (DBX) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Zacks Rank & Stocks to Consider Currently, Amdocs has a Zacks Rank #4 (Sell), while Lionsgate carries a Zacks Rank #3 (Hold). The Zacks Consensus Estimate for NetEase's fourth-quarter 2023 earnings has been revised upward by 10 cents to $1.83 per share in the past 30 days. Click to get this free report Amdocs Limited (DOX) : Free Stock Analysis Report NetEase, Inc. (NTES) : Free Stock Analysis Report Lions Gate Entertainment Corp. (LGF.A) : Free Stock Analysis Report Dropbox, Inc. (DBX) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Amdocs DOX announced that its Vubiquity platform has been selected by A+E Networks to handle the latter’s Video-on-Demand (VOD) Transport & Content Distribution Services. Some better-ranked stocks from the broader technology sector are NetEase NTES and Dropbox DBX, each flaunting a Zacks Rank #1 (Strong Buy) at present. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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ac0d9ef6-996d-4835-ac73-639f3c800f52
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714568.0
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2023-12-06 00:00:00 UTC
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The Sphere Is Amazing, but Is Sphere Entertainment Stock a Buy?
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DCOMP
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https://www.nasdaq.com/articles/the-sphere-is-amazing-but-is-sphere-entertainment-stock-a-buy
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nan
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nan
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The Sphere in Las Vegas is one of the most iconic developments of 2023, and investors can buy a piece of the business with Sphere Entertainment (NYSE: SPHR). But the company announced yesterday that it intends to raise $225 million in convertible debt for unknown uses, and that caused the stock to sink.
In this video, Travis Hoium discusses the potential capital raise, early results from the quarter, and why this is still a stock investors should be cautious about.
*Stock prices used were end-of-day prices of Dec. 5, 2023. The video was published on Dec. 6, 2023.
10 stocks we like better than Sphere Entertainment
When our analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*
They just revealed what they believe are the ten best stocks for investors to buy right now... and Sphere Entertainment wasn't one of them! That's right -- they think these 10 stocks are even better buys.
See the 10 stocks
*Stock Advisor returns as of December 4, 2023
Travis Hoium has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Travis Hoium is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through their link they will earn some extra money that supports their channel. Their opinions remain their own and are unaffected by The Motley Fool.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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But the company announced yesterday that it intends to raise $225 million in convertible debt for unknown uses, and that caused the stock to sink. In this video, Travis Hoium discusses the potential capital raise, early results from the quarter, and why this is still a stock investors should be cautious about. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.
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In this video, Travis Hoium discusses the potential capital raise, early results from the quarter, and why this is still a stock investors should be cautious about. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market. See the 10 stocks *Stock Advisor returns as of December 4, 2023 Travis Hoium has no position in any of the stocks mentioned.
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10 stocks we like better than Sphere Entertainment When our analyst team has a stock tip, it can pay to listen. See the 10 stocks *Stock Advisor returns as of December 4, 2023 Travis Hoium has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned.
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The Sphere in Las Vegas is one of the most iconic developments of 2023, and investors can buy a piece of the business with Sphere Entertainment (NYSE: SPHR). * They just revealed what they believe are the ten best stocks for investors to buy right now... and Sphere Entertainment wasn't one of them! Their opinions remain their own and are unaffected by The Motley Fool.
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bdf3f7c4-aadb-4fa5-918c-952d3b3943bd
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714569.0
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2023-12-06 00:00:00 UTC
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Is It Too Late to Buy Symbotic Stock?
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DCOMP
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https://www.nasdaq.com/articles/is-it-too-late-to-buy-symbotic-stock-1
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nan
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nan
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Symbotic (NASDAQ: SYM) stock has been on fire in 2023, riding the coattails of recent advances in artificial intelligence (AI). Share prices of the warehouse and supply chain automation specialist are up 367% so far this year, more than 19 times the increase of the S&P 500. This is far better than its performance last year. After its debut on the public markets via a reverse merger with a special purpose acquisition company (SPAC) in June 2022, the stock sank, closing out last year down by 40%.
Symbotic's rally in 2023 has been fueled by the robust adoption of its services and strong financial results, as well as its deep ties to AI. It reported record sales and accelerating deployment, and some investors are betting there could be further gains ahead.
However, investors who missed out on the stock's blistering rally are left with a quandary: With such a run-up in the rear-view mirror, is it simply too late to jump in, or can investors who buy now hope for further strong gains?
Image source: Getty Images.
The warehouse of the future
Imagine you're a warehouse operator struggling to maximize the amount of inventory you can squeeze into a single warehouse. You have to consider not only the shelf space necessary for the inventory itself but also the weight disbursal to ensure the heaviest items are near the bottom and those most susceptible to being crushed near the top. You need to ensure that you have sufficient room to access and move your inventory, while also considering the maneuverability of the forklifts or robots used to transport products. Most difficult of all, these considerations change with each and every new shipment and delivery.
That's where Symbotic comes in. The company has developed an AI-controlled system that solves all these problems. Its proprietary software coordinates the entire warehouse operation while a cadre of fully autonomous robots scamper about doing its bidding. The unique system architecture and modular design can be retrofitted into an existing space or integrated into a structure built from the ground up. Not only does the system optimize the amount of storage space available, but it can also take items from existing inventory and design and create custom mixed pallets for shipment to merchants.
Symbotic's novel solution is creating strong demand and attracting attention from some of the world's largest retailers, including such household names as Walmart (NYSE: WMT), Target, Albertsons, and C&S Wholesale Grocers. In fact, Walmart was so impressed it bought an 11% stake in the company. The retail giant also penned an agreement to outfit all 42 of its regional distribution centers with Symbotic's warehouse management system.
For its fiscal 2023 fourth quarter, which ended Sept. 30, Symbotic generated revenue of $392 million, up 61% year over year. While it has yet to generate a profit on a GAAP (generally accepted accounting principles) basis, Symbotic has generated positive operating cash flows in each of the past four quarters and for its fiscal 2023. This suggests that its losses are the result of non-cash items, including depreciation, and that sustained profitability is on the horizon.
Image source: Symbotic.
What the future holds
Retailers -- particularly grocery stores and discount retailers -- historically operate on thin margins and are always looking for any advantage they can get. Furthermore, there's a paradigm shift going on in the industry as merchants shift from brick-and-mortar or e-commerce to more omnichannel strategies.
One of the biggest incentives for retailers to use Symbotic's system is the cost savings it can provide. By automating warehouse systems, clients reduce their labor costs, lower transportation and operating expenses, and increase efficiency. Case studies suggest that the system can pay for itself in as little as five years, and could save retailers hundreds of millions of dollars over the useful life of the system.
The company was originally focused on two categories in the domestic market -- general merchandise, and food and grocery -- but it's expanding beyond those niches. Symbotic has plans to move into supporting retailers in consumer-packaged goods, apparel, auto parts, and home improvement, as well as third-party logistics providers. And it plans to push into international markets as well. All of this will boost its total market opportunity from $144 billion to $432 billion.
How to approach Symbotic now
Symbotic hasn't attracted a lot of attention from Wall Street thus far. However, of the 14 analysts who had offered an opinion as of November, 10 rated it a buy or strong buy, and none recommended selling.
Investors who fear they have missed the boat take heart. Symbotic stock is selling for just 3 times trailing-12-month sales and 1.8 times forward sales, which makes it a relative bargain for an AI stock.
Buying shares in Symbotic might seem like a no-brainer at first glance, but there is an asterisk for investors to consider. It has a high degree of customer concentration, with one customer accounting for 87% of its revenue. While recent regulatory filings are mum as to the identity of this client, a prospectus from late last year described Walmart as Symbotic's largest customer. Relying so heavily on any one customer is risky, but that concentration should decrease as Symbotic adds new customers.
Investors comfortable with accepting a little extra risk in exchange for greater potential rewards should consider taking a stake in Symbotic to ride the wave of AI and warehouse automation.
10 stocks we like better than Symbotic
When our analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*
They just revealed what they believe are the ten best stocks for investors to buy right now... and Symbotic wasn't one of them! That's right -- they think these 10 stocks are even better buys.
See the 10 stocks
*Stock Advisor returns as of December 4, 2023
Danny Vena has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Target and Walmart. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Not only does the system optimize the amount of storage space available, but it can also take items from existing inventory and design and create custom mixed pallets for shipment to merchants. Symbotic's novel solution is creating strong demand and attracting attention from some of the world's largest retailers, including such household names as Walmart (NYSE: WMT), Target, Albertsons, and C&S Wholesale Grocers. Investors comfortable with accepting a little extra risk in exchange for greater potential rewards should consider taking a stake in Symbotic to ride the wave of AI and warehouse automation.
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Not only does the system optimize the amount of storage space available, but it can also take items from existing inventory and design and create custom mixed pallets for shipment to merchants. For its fiscal 2023 fourth quarter, which ended Sept. 30, Symbotic generated revenue of $392 million, up 61% year over year. While it has yet to generate a profit on a GAAP (generally accepted accounting principles) basis, Symbotic has generated positive operating cash flows in each of the past four quarters and for its fiscal 2023.
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Symbotic stock is selling for just 3 times trailing-12-month sales and 1.8 times forward sales, which makes it a relative bargain for an AI stock. 10 stocks we like better than Symbotic When our analyst team has a stock tip, it can pay to listen. * They just revealed what they believe are the ten best stocks for investors to buy right now... and Symbotic wasn't one of them!
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However, investors who missed out on the stock's blistering rally are left with a quandary: With such a run-up in the rear-view mirror, is it simply too late to jump in, or can investors who buy now hope for further strong gains? The warehouse of the future Imagine you're a warehouse operator struggling to maximize the amount of inventory you can squeeze into a single warehouse. Not only does the system optimize the amount of storage space available, but it can also take items from existing inventory and design and create custom mixed pallets for shipment to merchants.
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099d53af-9c40-4c9d-bfb6-aeefced30511
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714570.0
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2023-12-06 00:00:00 UTC
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ROKU Collaborates With Tennis Channel to Launch T2 in the US
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DCOMP
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https://www.nasdaq.com/articles/roku-collaborates-with-tennis-channel-to-launch-t2-in-the-us
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nan
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nan
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Roku Inc. ROKU has announced a collaboration with Tennis Channel to launch T2, the sports network's second channel, on The Roku Channel in the United States. T2 is set to provide free and year-round access to live coverage of top tennis players and signature events for the vast audience of The Roku Channel, reaching an estimated 100 million people.
For convenient access, viewers can easily navigate T2 through the Sports Experience on Roku's Home Screen. This feature simplifies the discovery and access of live, upcoming and on-demand sports content, enhancing engagement and awareness for Roku's content partners while providing a personalized viewing experience.
T2's yearly live and encore calendar aligns with most tournaments covered by Tennis Channel, showcasing different matches and players. This unique approach allows viewers with access to both channels to choose between simultaneous competitions from prestigious events, such as the BNP Paribas Open, Roland Garros, Miami Open, Monte-Carlo Masters, Italian Open, Canadian Open, Davis Cup and the Billie Jean King Cup.
Shares of this Zacks Rank #3 (Hold) company have gained 158.5% year to date compared with the Zacks Consumer Discretionary sector’s rise of 12.4% due to its extensive collection of content.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Roku, Inc. Price and Consensus
Roku, Inc. price-consensus-chart | Roku, Inc. Quote
ROKU’s Recent Efforts to Boost Streaming Hours
The company recently unveiled two fresh additions to the Roku Home Screen, such as All Things Food and All Things Home. These new destinations bring together top-notch food, home and lifestyle content from various sources on the platform, creating seamless and engaging discovery experiences.
These new features are expected to boost streaming hours as well as platform revenues in the upcoming quarters.
The Zacks Consensus Estimate for ROKU’s 2023 streaming hours is pegged at 105.33 billion, indicating a year-over-year increase of 340.7%. The consensus estimate for 2023 platform revenues is pegged at $2.9 billion, indicating a year-over-year increase of 7.38%.
Designed for user convenience, these hubs offer straightforward navigation and personalized recommendations, simplifying the exploration and viewing of genre entertainment directly from the home screen. Both All Things Food and All Things Home will showcase a diverse array of streaming options within their respective categories, encompassing free and subscription-based services, live and linear TV, Premium Subscriptions, Roku Originals and more.
These features were added due to a recent survey commissioned by Roku. This recent survey revealed that 64% of streamers rely on genre-based searches when looking for new content, emphasizing the significance of genre preferences in content discovery. According to the survey, nearly 73% of streamers feel that they spend excessive time trying to discover fresh content, underscoring the need for streamlined and efficient content exploration experiences.
Roku faces tough competition from giants like Google GOOGL, Amazon AMZN and Apple AAPL.
Google TV has significantly improved its user experience, addressing previous issues with the latest Chromecast model. This device supports a broad range of streaming apps, including popular ones like YouTube and Spotify. However, there may be some limitations in terms of storage management.
Amazon Fire TV is deeply integrated into Amazon's ecosystem, giving priority to AMZN's content and featuring a robust voice interface. Yet, at times, it gives the impression of functioning more as an advertising platform for Amazon products rather than providing a diverse app and content ecosystem.
Apple TV boasts a refined interface with its attention to detail. While it supports most apps, it appears that AAPL places a stronger emphasis on its Apple TV+ subscription service and app rather than focusing primarily on the hardware itself.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
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
Amazon.com, Inc. (AMZN) : Free Stock Analysis Report
Apple Inc. (AAPL) : Free Stock Analysis Report
Alphabet Inc. (GOOGL) : Free Stock Analysis Report
Roku, Inc. (ROKU) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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T2 is set to provide free and year-round access to live coverage of top tennis players and signature events for the vast audience of The Roku Channel, reaching an estimated 100 million people. These new destinations bring together top-notch food, home and lifestyle content from various sources on the platform, creating seamless and engaging discovery experiences. Designed for user convenience, these hubs offer straightforward navigation and personalized recommendations, simplifying the exploration and viewing of genre entertainment directly from the home screen.
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This feature simplifies the discovery and access of live, upcoming and on-demand sports content, enhancing engagement and awareness for Roku's content partners while providing a personalized viewing experience. Roku, Inc. Price and Consensus Roku, Inc. price-consensus-chart | Roku, Inc. Quote ROKU’s Recent Efforts to Boost Streaming Hours The company recently unveiled two fresh additions to the Roku Home Screen, such as All Things Food and All Things Home. Click to get this free report Amazon.com, Inc. (AMZN) : Free Stock Analysis Report Apple Inc. (AAPL) : Free Stock Analysis Report Alphabet Inc. (GOOGL) : Free Stock Analysis Report Roku, Inc. (ROKU) : Free Stock Analysis Report To read this article on Zacks.com click here.
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This feature simplifies the discovery and access of live, upcoming and on-demand sports content, enhancing engagement and awareness for Roku's content partners while providing a personalized viewing experience. Roku, Inc. Price and Consensus Roku, Inc. price-consensus-chart | Roku, Inc. Quote ROKU’s Recent Efforts to Boost Streaming Hours The company recently unveiled two fresh additions to the Roku Home Screen, such as All Things Food and All Things Home. Click to get this free report Amazon.com, Inc. (AMZN) : Free Stock Analysis Report Apple Inc. (AAPL) : Free Stock Analysis Report Alphabet Inc. (GOOGL) : Free Stock Analysis Report Roku, Inc. (ROKU) : Free Stock Analysis Report To read this article on Zacks.com click here.
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This feature simplifies the discovery and access of live, upcoming and on-demand sports content, enhancing engagement and awareness for Roku's content partners while providing a personalized viewing experience. Roku, Inc. Price and Consensus Roku, Inc. price-consensus-chart | Roku, Inc. Quote ROKU’s Recent Efforts to Boost Streaming Hours The company recently unveiled two fresh additions to the Roku Home Screen, such as All Things Food and All Things Home. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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4bfcd3f0-5a5f-4628-93c6-d5bd9f82c071
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714571.0
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2023-12-06 00:00:00 UTC
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Netflix (NFLX) Unveils Yu Yu Hakusho With Groundbreaking VFX
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DCOMP
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https://www.nasdaq.com/articles/netflix-nflx-unveils-yu-yu-hakusho-with-groundbreaking-vfx
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nan
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nan
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Netflix NFLX released the trailer for Yu Yu Hakusho, which provides cutting-edge visual effects that depict the intense clashes between humans and demons, setting a groundbreaking standard for live-action adaptations.
The upcoming five-episode series successfully captures the core essence of the original best-selling manga by skillfully integrating supernatural elements in a manner that appears convincingly realistic. This achievement was realized through a collaborative effort with Scanline VFX, which is renowned for its contributions to major Hollywood productions.
To achieve this visual spectacle, the production team utilized state-of-the-art performance capture technology, employing 170 cameras simultaneously filming actors from all angles in 360 degrees. This innovative approach allows director Sho Tsukikawa to later select the optimal perspective as if maneuvering a single camera, resulting in realistic CG character assets that seamlessly interact with the live-action components.
Shares of NFLX, which currently carries a Zacks Rank #3 (Hold), have returned 54.4% compared with the Zacks Consumer Discretionary sector’s rise of 12.4% year to date. The outstanding performance can be credited to the continuous growth of the subscriber base and the strong lineup of content offerings.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Netflix, Inc. Price and Consensus
Netflix, Inc. price-consensus-chart | Netflix, Inc. Quote
Netflix’s December Lineup to Fend Off Competition
As the festive season approaches, Netflix is set to release eagerly-awaited returning series as well as fresh captivating titles. At the forefront of this lineup is the much-anticipated second season of the globally acclaimed series, Sweet Home, a trailblazer in the K-creature genre. Additionally, Gyeongseong Creature promises to elevate the stakes within this genre.
Delight is an added bonus as actor Song Kang effortlessly shifts from portraying a heroic monster-human in Sweet Home to embodying a 200-year-old demon experiencing power loss in My Demon, highlighting his versatile and impressive acting skills.
These titles are expected to fend off competition from established players like Amazon AMZN Prime and Disney DIS.
Amazon Prime Video, a behemoth in the streaming sector, is accessible either as a standalone service or as part of Amazon's Prime subscription. The upcoming content lineup of originals features Reacher season two, Candy Cane Lane and Merry Little Batman.
Disney's streaming platform is well-known for its curated content tailored for young audiences and kids. The inclusion of exclusive franchises further boosts its appeal. Upcoming releases from Disney include titles like Theatre Camp, Percy Jackson and the Olympians and Marvel’s What If…? S2.
Verizon Communications recently bundled streaming subscriptions to Netflix and the Warner Bros Discovery WBD-owned Max platforms for its customers. Subscribers to Verizon's myPlan can choose to combine ad-supported plans for Netflix and Max at a monthly cost of $10. This addition marks a major collaboration between two giants of the streaming industry.
This is expected to aid NFLX’s top-line growth in the upcoming quarters.
The Zacks Consensus Estimate for Netflix's 2023 revenues is pegged at $33.6 billion, indicating 6.26% year-over-year growth. The consensus mark for earnings is pegged at $12.07 per share, indicating 21.31% year-over-year growth.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
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
Amazon.com, Inc. (AMZN) : Free Stock Analysis Report
Netflix, Inc. (NFLX) : Free Stock Analysis Report
The Walt Disney Company (DIS) : Free Stock Analysis Report
Warner Bros. Discovery, Inc. (WBD) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The upcoming five-episode series successfully captures the core essence of the original best-selling manga by skillfully integrating supernatural elements in a manner that appears convincingly realistic. To achieve this visual spectacle, the production team utilized state-of-the-art performance capture technology, employing 170 cameras simultaneously filming actors from all angles in 360 degrees. This innovative approach allows director Sho Tsukikawa to later select the optimal perspective as if maneuvering a single camera, resulting in realistic CG character assets that seamlessly interact with the live-action components.
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You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Netflix, Inc. Price and Consensus Netflix, Inc. price-consensus-chart | Netflix, Inc. Quote Netflix’s December Lineup to Fend Off Competition As the festive season approaches, Netflix is set to release eagerly-awaited returning series as well as fresh captivating titles. Click to get this free report Amazon.com, Inc. (AMZN) : Free Stock Analysis Report Netflix, Inc. (NFLX) : Free Stock Analysis Report The Walt Disney Company (DIS) : Free Stock Analysis Report Warner Bros.
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Netflix, Inc. Price and Consensus Netflix, Inc. price-consensus-chart | Netflix, Inc. Quote Netflix’s December Lineup to Fend Off Competition As the festive season approaches, Netflix is set to release eagerly-awaited returning series as well as fresh captivating titles. As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Click to get this free report Amazon.com, Inc. (AMZN) : Free Stock Analysis Report Netflix, Inc. (NFLX) : Free Stock Analysis Report The Walt Disney Company (DIS) : Free Stock Analysis Report Warner Bros.
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These titles are expected to fend off competition from established players like Amazon AMZN Prime and Disney DIS. This addition marks a major collaboration between two giants of the streaming industry. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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58d8ac21-9e75-4338-bf20-7649a03e0fa6
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714572.0
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2023-12-06 00:00:00 UTC
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Why Is Eversource (ES) Up 6.8% Since Last Earnings Report?
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DCOMP
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https://www.nasdaq.com/articles/why-is-eversource-es-up-6.8-since-last-earnings-report
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nan
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nan
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A month has gone by since the last earnings report for Eversource Energy (ES). Shares have added about 6.8% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Eversource due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts.
Eversource Q3 Earnings and Revenues Miss Estimates
Eversource Energy reported third-quarter 2023 adjusted earnings of 97 cents per share, which missed the Zacks Consensus Estimate of 99 cents by 2%. The bottom line declined 4% year over year.
Total Revenues
ES’ third-quarter revenues of $2,791.5 million missed the Zacks Consensus Estimate of $3,334 million by 16.3%. Total revenues also declined 13.2% from the year-ago quarter’s figure of $3,215.6 million.
Highlights of the Release
Total operating expenses decreased 14.9% year over year to $2,260.9 million.
Operating income decreased 4.8% from the prior-year quarter’s level to $530.6 million. Interest expenses increased 24.7% to $222.3 million.
Net income in the quarter under review was $341.5 million, down 2.8% from $351.3 million recorded in the year-ago period.
Segmental Performance
Electric Transmission: Earnings from this segment totaled $160.3 million, up 2.9% from the prior-year quarter’s level. The increase was primarily due to a higher level of investment in Eversource’s electric transmission system.
Electric Distribution: Earnings from this segment amounted to $173.3 million, down 23% year over year. This was due to the timing impact of a rate design change for Eversource’s Massachusetts electric business that has the effect of shifting certain peak demand revenues from summer to winter.
Natural Gas Distribution: This segment reported a loss of $33.7 million, wider than the prior-year quarter’s registered loss of $24.6 million. This was due to higher depreciation and operations and maintenance expenses.
Water Distribution: Earnings from this segment amounted to $16.6 million, down 0.6% from the year-ago quarter’s figure.
Eversource Parent & Other Companies: The segment reported earnings of $23.2 million in third-quarter 2023, marking an improvement from the year-ago quarter's reported loss of $21.4 million. This primarily reflects a lower effective tax rate, partially offset by higher interest expense.
Guidance
Eversource narrowed its 2023 earnings expectation to the band of $4.30-$4.43 per share from the previously guided range of $4.25-$4.43. The mid-point of the revised guidance is $4.37, a bit higher than the Zacks Consensus Estimate of $4.36.
The company reaffirmed its expectations for long-term EPS growth rate from the existing core regulated businesses in the upper half of 5-7% through 2027, using the $4.09 earned in 2022 as a base.
How Have Estimates Been Moving Since Then?
It turns out, estimates review have trended upward during the past month.
VGM Scores
Currently, Eversource has a subpar Growth Score of D, however its Momentum Score is doing a lot better with a B. Charting a somewhat similar path, the stock was allocated a grade of C on the value side, putting it in the middle 20% for this investment strategy.
Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been trending upward for the stock, and the magnitude of these revisions looks promising. Notably, Eversource has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Performance of an Industry Player
Eversource is part of the Zacks Utility - Electric Power industry. Over the past month, Xcel Energy (XEL), a stock from the same industry, has gained 2%. The company reported its results for the quarter ended September 2023 more than a month ago.
Xcel reported revenues of $3.66 billion in the last reported quarter, representing a year-over-year change of -10.3%. EPS of $1.23 for the same period compares with $1.18 a year ago.
For the current quarter, Xcel is expected to post earnings of $0.84 per share, indicating a change of +21.7% from the year-ago quarter. The Zacks Consensus Estimate has changed +4.2% over the last 30 days.
Xcel has a Zacks Rank #3 (Hold) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of A.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
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
Eversource Energy (ES) : Free Stock Analysis Report
Xcel Energy Inc. (XEL) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts. This was due to the timing impact of a rate design change for Eversource’s Massachusetts electric business that has the effect of shifting certain peak demand revenues from summer to winter. The company reaffirmed its expectations for long-term EPS growth rate from the existing core regulated businesses in the upper half of 5-7% through 2027, using the $4.09 earned in 2022 as a base.
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Eversource Energy reported third-quarter 2023 adjusted earnings of 97 cents per share, which missed the Zacks Consensus Estimate of 99 cents by 2%. Total Revenues ES’ third-quarter revenues of $2,791.5 million missed the Zacks Consensus Estimate of $3,334 million by 16.3%. Click to get this free report Eversource Energy (ES) : Free Stock Analysis Report Xcel Energy Inc. (XEL) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Eversource Energy reported third-quarter 2023 adjusted earnings of 97 cents per share, which missed the Zacks Consensus Estimate of 99 cents by 2%. Eversource Parent & Other Companies: The segment reported earnings of $23.2 million in third-quarter 2023, marking an improvement from the year-ago quarter's reported loss of $21.4 million. Click to get this free report Eversource Energy (ES) : Free Stock Analysis Report Xcel Energy Inc. (XEL) : Free Stock Analysis Report To read this article on Zacks.com click here.
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This was due to the timing impact of a rate design change for Eversource’s Massachusetts electric business that has the effect of shifting certain peak demand revenues from summer to winter. Eversource Parent & Other Companies: The segment reported earnings of $23.2 million in third-quarter 2023, marking an improvement from the year-ago quarter's reported loss of $21.4 million. The Zacks Consensus Estimate has changed +4.2% over the last 30 days.
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e7315ee4-6bb6-4671-88b5-e6bfa6e16bf8
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714573.0
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2023-12-06 00:00:00 UTC
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Pfizer (PFE), Arvinas Post Upbeat Data From Breast Cancer Study
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DCOMP
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https://www.nasdaq.com/articles/pfizer-pfe-arvinas-post-upbeat-data-from-breast-cancer-study
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Pfizer PFE and partner Arvinas ARVN reported interim data from a phase Ib cohort of the ARV-471-mBC-101 study evaluating the investigational combination of vepdegestrant (formerly ARV-471) and CDK4/6 inhibitor Ibrance (palbociclib) in certain patients with heavily pre-treated breast cancer.
At the time of data cutoff (i.e., Jun 6, 2023), the study cohort consisted of 46 patients who had received a median of four lines of therapy across disease settings with locally advanced or metastatic ER+/HER2- breast cancer.
Interim data from the phase Ib cohort demonstrated encouraging clinical activity in the heavily pre-treated study participants. Data from the study showed that treatment with the vepdegestrant-Ibrance combination achieved a clinical benefit rate (CBR) of 63%, with a median progression-free survival (PFS) of 11.1 months.
The study cohort also achieved an overall response rate (ORR) of 42% in certain evaluable patients whose disease was measurable at baseline. The safety profile of the combination therapy was also consistent with the safety profiles of individual drugs in previously conducted clinical studies.
Vepdegestrant is an investigational oral PROteolysis TArgeting Chimera (PROTAC) estrogen receptor protein degrader developed using Arvinas’ proprietary technology to treat ER/HER2- breast cancer. Arvinas entered into a collaboration agreement with Pfizer in 2021 to develop and market this candidate jointly.
Pfizer’s shares have lost 43.2% year to date against the industry’s 5.4% growth.
Image Source: Zacks Investment Research
Currently, vepdegestrant is being evaluated in two late-stage studies — VERITAC-2 and VERITAC-3 — as a monotherapy in the second-line setting and in combination with Ibrance in the first-line setting.
Based on the positive clinical progress with the PROTAC degrader, Pfizer and Arvinas intend to evaluate vepdegestrant in combination with several CDK4/6 inhibitors in first-line and second-line settings. In this regard, the companies plan to start two late-stage studies — one on the vepdegestrant-Ibrance combo in the second-line setting and another on vepdegestrant combined with PF-07220060, Pfizer’s novel CDK4 inhibitor, in the first-line setting.
Pfizer’s Ibrance is one of the leading drugs approved for HR+, HER2- metastatic breast cancer, in combination with an aromatase inhibitor as the first hormonal-based therapy or fulvestrant in people with disease progression following hormonal therapy.
Pfizer Inc. Price
Pfizer Inc. price | Pfizer Inc. Quote
Zacks Rank & Key Picks
Pfizer currently carries a Zacks Rank #3 (Hold). A couple of top-ranked stocks in the overall healthcare sector include CytomX Therapeutics CTMX and Novo Nordisk NVO, each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
In the past 60 days, estimates for CytomX Therapeutics’ 2023 loss per share have improved from 37 cents to 2 cents. During the same period, the loss estimates per share for 2024 have narrowed from 51 cents to 6 cents. Shares of CytomX have lost 11.9% in the year-to-date period.
CytomX Therapeutics’ earnings beat estimates in three of the last four quarters while missing the estimates on one occasion. On average, the company witnessed an average surprise of 45.44%. In the last reported quarter, CytomX Therapeutics’ earnings beat estimates by 123.53%.
In the past 60 days, estimates for Novo Nordisk’s 2023 earnings per share have increased from $2.51 to $2.62. During the same period, the earnings estimates for 2024 have risen from $2.95 to $3.07. Shares of NVO have surged 47.2% in the year-to-date period.
Novo Nordisk’s earnings beat estimates in two of the last four quarters while meeting the mark on one occasion and missing the estimates on another. On average, the company witnessed an average surprise of 0.58%. In the last reported quarter, Novo Nordisk’s earnings beat estimates by 5.80%.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
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
Pfizer Inc. (PFE) : Free Stock Analysis Report
Novo Nordisk A/S (NVO) : Free Stock Analysis Report
CytomX Therapeutics, Inc. (CTMX) : Free Stock Analysis Report
Arvinas, Inc. (ARVN) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Pfizer PFE and partner Arvinas ARVN reported interim data from a phase Ib cohort of the ARV-471-mBC-101 study evaluating the investigational combination of vepdegestrant (formerly ARV-471) and CDK4/6 inhibitor Ibrance (palbociclib) in certain patients with heavily pre-treated breast cancer. At the time of data cutoff (i.e., Jun 6, 2023), the study cohort consisted of 46 patients who had received a median of four lines of therapy across disease settings with locally advanced or metastatic ER+/HER2- breast cancer. Vepdegestrant is an investigational oral PROteolysis TArgeting Chimera (PROTAC) estrogen receptor protein degrader developed using Arvinas’ proprietary technology to treat ER/HER2- breast cancer.
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Pfizer PFE and partner Arvinas ARVN reported interim data from a phase Ib cohort of the ARV-471-mBC-101 study evaluating the investigational combination of vepdegestrant (formerly ARV-471) and CDK4/6 inhibitor Ibrance (palbociclib) in certain patients with heavily pre-treated breast cancer. Based on the positive clinical progress with the PROTAC degrader, Pfizer and Arvinas intend to evaluate vepdegestrant in combination with several CDK4/6 inhibitors in first-line and second-line settings. Click to get this free report Pfizer Inc. (PFE) : Free Stock Analysis Report Novo Nordisk A/S (NVO) : Free Stock Analysis Report CytomX Therapeutics, Inc. (CTMX) : Free Stock Analysis Report Arvinas, Inc. (ARVN) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Pfizer PFE and partner Arvinas ARVN reported interim data from a phase Ib cohort of the ARV-471-mBC-101 study evaluating the investigational combination of vepdegestrant (formerly ARV-471) and CDK4/6 inhibitor Ibrance (palbociclib) in certain patients with heavily pre-treated breast cancer. Pfizer Inc. Price Pfizer Inc. price | Pfizer Inc. Quote Zacks Rank & Key Picks Pfizer currently carries a Zacks Rank #3 (Hold). Click to get this free report Pfizer Inc. (PFE) : Free Stock Analysis Report Novo Nordisk A/S (NVO) : Free Stock Analysis Report CytomX Therapeutics, Inc. (CTMX) : Free Stock Analysis Report Arvinas, Inc. (ARVN) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Pfizer PFE and partner Arvinas ARVN reported interim data from a phase Ib cohort of the ARV-471-mBC-101 study evaluating the investigational combination of vepdegestrant (formerly ARV-471) and CDK4/6 inhibitor Ibrance (palbociclib) in certain patients with heavily pre-treated breast cancer. A couple of top-ranked stocks in the overall healthcare sector include CytomX Therapeutics CTMX and Novo Nordisk NVO, each sporting a Zacks Rank #1 (Strong Buy). Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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8906b6b0-3c59-4584-a7a9-001bdb8ac866
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714574.0
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2023-12-06 00:00:00 UTC
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Micron (MU) Starts Shipping 232-layer NAND-Based 3500 NVMe SSD
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DCOMP
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https://www.nasdaq.com/articles/micron-mu-starts-shipping-232-layer-nand-based-3500-nvme-ssd
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nan
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Micron Technology MU announced that it has started shipping 3500 NVMe solid state drive (SSD), which is based on its 232-layer NAND technology. This product is set to reduce the time for loading games on computers, speed up content editing in 4K and 8K video formats and accelerate computing speeds for business applications and artificial intelligence (AI) workloads.
The 232-Layer NAND has been built to power data centers, consumer electronics, mobile devices and personal computers. During its release, the 232-Layer NAND stood out as the sole flash-memory technology, offering a 28% smaller package size than earlier Micron generations.
The compact size of the NAND contributes to the small and slim design of the Micron 3500 NVMe SSD. Introduced in the M.2 form factor, the Micron 3500 NVMe is ideal for powerful portable computers. Its compact dimensions allow it to take up less space while offering storage capacities of up to two terabytes.
Also, the SSD has DirectStorage APIs that work closely with the NVMe hardware to reduce the operating system’s workload significantly. This enables direct data transfer to the Graphics Processing Unit while achieving higher bandwidth with lower CPU usage. The Micron 3500 NVMe SSD is claimed to deliver top-notch Standard Performance Evaluation Corporation Workstation Performance Characterization (SPECwpc) capabilities, making it reliable for various real-world environments and diverse industry needs.
Micron Technology, Inc. Price and Consensus
Micron Technology, Inc. price-consensus-chart | Micron Technology, Inc. Quote
Micron Benefits From Expanding Portfolio
The recent product launch of 3500 NVMe SSD will strengthen the Data Center revenues of MU. The segment will also benefit from the recently launched 7500 NVMe SSD for data centers. Other recently introduced products that will aid the company's growth are Micron CZ120 memory expansion modules, Crucial T500 Gen4 NVMe SSD and 128GB DDR5 RDIMM for upgrading its 1-beta process node.
Micron is also addressing some near-term challenges, including issues related to customer inventory accumulation. However, MU's customers have made progress in reducing excess inventory of memory and storage products as demonstrated in the company’s fourth-quarter fiscal 2023 results.
Additionally, a growing number of cloud computing providers, the wider adoption of 5G cellular networks and the expansion of artificial intelligence are expected to fuel the demand for Micron's memory chips. The company is also investing domestically, including the establishment of a fab facility in Idaho, which will strengthen its global supply chain, catering to the expanding global AI market.
Zacks Rank & Stocks to Consider
Micron currently carries a Zacks Rank #3 (Hold). Shares of MU have gained 47.4% year to date.
Some better-ranked stocks from the broader technology sector are NetEase NTES and Bel Fuse BELFB, Dropbox DBX, each flaunting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for NetEase's fourth-quarter 2023 earnings has been revised upward by 10 cents to $1.83 per share in the past 30 days. For fiscal 2023, earnings estimates have increased 30 cents to $7.26 per share in the past 30 days.
NTES' earnings beat the Zacks Consensus Estimate in three of the trailing four quarters, while missing the same on one occasion, the average surprise being 16.63%. Shares of NTES have gained 41.4% year to date.
The Zacks Consensus Estimate for Bel Fuse’s fourth-quarter fiscal 2023 earnings has been revised by 38 cents northward to $1.44 per share in the past 60 days. For fiscal 2024, earnings estimates have increased 72 cents to $6.28 in the past 60 days.
BELFB’s earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 56.92%. Shares of BELFB have surged 66.7% year to date.
The Zacks Consensus Estimate for Dropbox's fourth-quarter 2023 earnings has remained unchanged for the past 90 days at 48 cents per share. For fiscal 2023, earnings estimates have been revised 7 cents upward to $1.96 per share in the past 30 days.
DBX’s earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 13.14%. Shares of DBX have rallied 26.6% year to date.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
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
Micron Technology, Inc. (MU) : Free Stock Analysis Report
NetEase, Inc. (NTES) : Free Stock Analysis Report
Bel Fuse Inc. (BELFB) : Free Stock Analysis Report
Dropbox, Inc. (DBX) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Other recently introduced products that will aid the company's growth are Micron CZ120 memory expansion modules, Crucial T500 Gen4 NVMe SSD and 128GB DDR5 RDIMM for upgrading its 1-beta process node. Additionally, a growing number of cloud computing providers, the wider adoption of 5G cellular networks and the expansion of artificial intelligence are expected to fuel the demand for Micron's memory chips. Some better-ranked stocks from the broader technology sector are NetEase NTES and Bel Fuse BELFB, Dropbox DBX, each flaunting a Zacks Rank #1 (Strong Buy) at present.
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Micron Technology, Inc. Price and Consensus Micron Technology, Inc. price-consensus-chart | Micron Technology, Inc. Quote Micron Benefits From Expanding Portfolio The recent product launch of 3500 NVMe SSD will strengthen the Data Center revenues of MU. Some better-ranked stocks from the broader technology sector are NetEase NTES and Bel Fuse BELFB, Dropbox DBX, each flaunting a Zacks Rank #1 (Strong Buy) at present. Click to get this free report Micron Technology, Inc. (MU) : Free Stock Analysis Report NetEase, Inc. (NTES) : Free Stock Analysis Report Bel Fuse Inc. (BELFB) : Free Stock Analysis Report Dropbox, Inc. (DBX) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Micron Technology, Inc. Price and Consensus Micron Technology, Inc. price-consensus-chart | Micron Technology, Inc. Quote Micron Benefits From Expanding Portfolio The recent product launch of 3500 NVMe SSD will strengthen the Data Center revenues of MU. The Zacks Consensus Estimate for Bel Fuse’s fourth-quarter fiscal 2023 earnings has been revised by 38 cents northward to $1.44 per share in the past 60 days. Click to get this free report Micron Technology, Inc. (MU) : Free Stock Analysis Report NetEase, Inc. (NTES) : Free Stock Analysis Report Bel Fuse Inc. (BELFB) : Free Stock Analysis Report Dropbox, Inc. (DBX) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Other recently introduced products that will aid the company's growth are Micron CZ120 memory expansion modules, Crucial T500 Gen4 NVMe SSD and 128GB DDR5 RDIMM for upgrading its 1-beta process node. Some better-ranked stocks from the broader technology sector are NetEase NTES and Bel Fuse BELFB, Dropbox DBX, each flaunting a Zacks Rank #1 (Strong Buy) at present. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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2b54433b-a2a8-48cf-8e2b-656d477585bc
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714575.0
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2023-12-06 00:00:00 UTC
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Universal Technical (UTI) to Consolidate Houston Operations
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DCOMP
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https://www.nasdaq.com/articles/universal-technical-uti-to-consolidate-houston-operations
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nan
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Universal Technical Institute, Inc.'s UTI transportation, skilled trades and energy education division, Universal Technical Institute (UTI), is set to consolidate its Houston operations. This move aims to enhance student support by aligning curriculum, student-facing systems and services for those pursuing careers in high-demand fields.
The company remains optimistic in this regard and expects the consolidation to strengthen UTI's position as the leading provider of career technical training solutions in the Houston market, where it has been operating for more than 40 years.
Takeaways From the Consolidation
Starting in May 2024, a phased teach-out agreement will be implemented. The MIAT-Houston campus, acquired by the company in November 2021, will operate under its UTI brand. UTI-Houston and MIAT-Houston, strategically located near Interstate 45 in the city's north section, are less than a quarter of a mile apart. Post the consolidation, which is expected to be fully completed by early fiscal 2025, both facilities will remain operational.
The transition ensures students access to expanded support services and a more streamlined and standardized educational delivery model. Future students can complete certain programs more quickly. Beginning in May, UTI's existing faculty will teach consistent course objectives, and classes will continue in the same locations using familiar technology and equipment.
Image Source: Zacks Investment Research
Shares of UTI fell 0.08% on Dec 5 during the after-hour trading session. The stock has gained 77.8% year to date compared with the Zacks Schools industry’s 39.3% growth.
Focus on UTI Division
Universal Technical consistently focuses on growth and diversification initiatives to maintain its growth momentum. Its proven education and employment model reflects consistent graduation and in-field employment rates, along with rooted partnerships with top industry participants and employers. The company’s focus on driving its operational initiatives helps it optimally prepare and position students for fulfilling careers in the significantly demanding fields that it serves.
During the fiscal fourth quarter, revenues from the UTI division increased 4.2% to $115.3 million year over year. New student starts totaled 6,500, up 9% from a year ago. The planned new program launches and scaling of its two latest campuses in Austin, TX, and Miramar, FL, drove the performance.
In 2023, the company launched 13 of the 14 planned new UTI programs across eight campuses. The remaining Aviation, Airframe and Powerplant technician program at the UTI Miramar campus is expected to launch soon, following the completion of the delayed Federal Aviation Administration certification process.
Zacks Rank & Key Picks
Universal Technical currently sports a Zacks Rank #3 (Hold).
Here are some better-ranked stocks from the Zacks Consumer Discretionary sector:
Royal Caribbean Cruises Ltd. RCL sports a Zacks Rank #1 (Strong Buy). RCL has a trailing four-quarter earnings surprise of 28.3% on average. Shares of RCL have surged 102.1% in the past year. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for RCL’s 2023 sales and earnings per share (EPS) indicates a rise of 57.7% and 187.9%, respectively, from the year-ago period’s levels.
Live Nation Entertainment, Inc. LYV flaunts a Zacks Rank #1. The company has a trailing four-quarter earnings surprise of 37.5% on average. Shares of LYV have increased 14.4% in the past year.
The Zacks Consensus Estimate for LYV’s 2023 sales and EPS indicates a rise of 28.6% and 132.8%, respectively, from the year-ago period’s levels.
Skechers U.S.A., Inc. SKX carries a Zacks Rank #2 (Buy). The company has a trailing four-quarter earnings surprise of 50.3% on average. Shares of SKX have increased 40.8% in the past year.
The Zacks Consensus Estimate for SKX’s 2023 sales and EPS indicates a rise of 8.2% and 44.5%, respectively, from the year-ago period’s levels.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
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
Royal Caribbean Cruises Ltd. (RCL) : Free Stock Analysis Report
Skechers U.S.A., Inc. (SKX) : Free Stock Analysis Report
Universal Technical Institute Inc (UTI) : Free Stock Analysis Report
Live Nation Entertainment, Inc. (LYV) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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This move aims to enhance student support by aligning curriculum, student-facing systems and services for those pursuing careers in high-demand fields. The company remains optimistic in this regard and expects the consolidation to strengthen UTI's position as the leading provider of career technical training solutions in the Houston market, where it has been operating for more than 40 years. The company’s focus on driving its operational initiatives helps it optimally prepare and position students for fulfilling careers in the significantly demanding fields that it serves.
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Universal Technical Institute, Inc.'s UTI transportation, skilled trades and energy education division, Universal Technical Institute (UTI), is set to consolidate its Houston operations. Royal Caribbean Cruises Ltd. RCL sports a Zacks Rank #1 (Strong Buy). Click to get this free report Royal Caribbean Cruises Ltd. (RCL) : Free Stock Analysis Report Skechers U.S.A., Inc. (SKX) : Free Stock Analysis Report Universal Technical Institute Inc (UTI) : Free Stock Analysis Report Live Nation Entertainment, Inc. (LYV) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Universal Technical Institute, Inc.'s UTI transportation, skilled trades and energy education division, Universal Technical Institute (UTI), is set to consolidate its Houston operations. The company remains optimistic in this regard and expects the consolidation to strengthen UTI's position as the leading provider of career technical training solutions in the Houston market, where it has been operating for more than 40 years. Click to get this free report Royal Caribbean Cruises Ltd. (RCL) : Free Stock Analysis Report Skechers U.S.A., Inc. (SKX) : Free Stock Analysis Report Universal Technical Institute Inc (UTI) : Free Stock Analysis Report Live Nation Entertainment, Inc. (LYV) : Free Stock Analysis Report To read this article on Zacks.com click here.
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In 2023, the company launched 13 of the 14 planned new UTI programs across eight campuses. You can see the complete list of today’s Zacks #1 Rank stocks here. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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a9e887cb-add1-4859-899e-3577b2254179
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714576.0
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2023-12-06 00:00:00 UTC
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Online Learning Company Gains Traction as Universities Jump Aboard
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DCOMP
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https://www.nasdaq.com/articles/online-learning-company-gains-traction-as-universities-jump-aboard
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nan
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nan
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Online learning initiatives have surged over the past few decades. A revolutionary approach to education, the new era of e-learning has ushered in countless entities and organizations seeking to get ahead in the space. The onset of artificial intelligence has led to rapid advances and new methods of extracting information.
We can trace e-learning back to the internet explosion of the mid ‘90s. Lynda Weinman originally founded Lynda.com back in 1995, which then became LinkedIn Learning following LinkedIn’s acquisition in 2015. The American online learning platform is now owned by Microsoft after the tech giant purchased LinkedIn in 2016. Other tech companies such as Google-parent Alphabet have joined the cause; the company offers Google Career Certificates for in-demand job skills in growing fields such as information technology and data analytics.
Non-profit educational organization Khan Academy, founded by Sal Khan in 2006, is another leader in online learning. Its website and YouTube channel host over 8,000 video lessons teaching a wide spectrum of academic subjects such as mathematics, sciences, history, and literature. Khan Academy also provides online courses for standardized tests such as the SAT, Praxis Core, MCAT and LSAT. In 2017, Khan Academy became the official practice partner for the College Board’s Advanced Placement.
Online Course Provider Soars to 52-Week High
Online learning company Coursera COUR has been one of 2023’s biggest winners. The Mountain View, California-based company works with organizations to offer online courses, certifications, and degrees in a variety of subjects. Coursera collaborates with more than 300 universities and colleges such as Stanford, Duke, and Michigan, as well as major companies including IBM and Alphabet.
COUR stock went public in 2021; it’s been a rocky road for investors since the IPO, but shares appear to have turned the corner. COUR stock entered an uptrend has advanced nearly 77% year-to-date:
Image Source: StockCharts
The learning platform is part of the Zacks Technology Services industry group, which currently ranks in the top 35% out of more than 250 Zacks Ranked Industries. Because it is ranked in the top half of all Zacks Ranked Industries, we expect this group to outperform the market over the next 3 to 6 months.
Historical research studies suggest that approximately half of a stock’s price appreciation is due to its industry grouping. In fact, the top 50% of Zacks Ranked Industries outperforms the bottom 50% by a factor of more than 2 to 1. By focusing on leading stocks within the top 50% of Zacks Ranked Industries, we can dramatically improve our stock-picking success.
Coursera has surpassed earnings estimates in each of the past four quarters. The e-learning provider most recently posted a third-quarter loss of -$0.02/share back in October, a 71.43% surprise over the -$0.07/share consensus estimate. The company has delivered a trailing four-quarter average earnings surprise of 75.44%.
Coursera is expected to turn a profit next year. Current estimates call for 2024 earnings of $0.04/share, which would mark a 176.7% improvement relative to this year. Revenues are projected to climb 14.4% to $721.2 million.
Make sure to keep tabs on the e-learning space, particularly given this year’s artificial intelligence explosion. The way we learn is changing before our eyes.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
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
Coursera, Inc. (COUR) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Its website and YouTube channel host over 8,000 video lessons teaching a wide spectrum of academic subjects such as mathematics, sciences, history, and literature. Khan Academy also provides online courses for standardized tests such as the SAT, Praxis Core, MCAT and LSAT. The Mountain View, California-based company works with organizations to offer online courses, certifications, and degrees in a variety of subjects.
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Online Course Provider Soars to 52-Week High Online learning company Coursera COUR has been one of 2023’s biggest winners. Because it is ranked in the top half of all Zacks Ranked Industries, we expect this group to outperform the market over the next 3 to 6 months. Click to get this free report Coursera, Inc. (COUR) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Online Course Provider Soars to 52-Week High Online learning company Coursera COUR has been one of 2023’s biggest winners. Image Source: StockCharts The learning platform is part of the Zacks Technology Services industry group, which currently ranks in the top 35% out of more than 250 Zacks Ranked Industries. By focusing on leading stocks within the top 50% of Zacks Ranked Industries, we can dramatically improve our stock-picking success.
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Non-profit educational organization Khan Academy, founded by Sal Khan in 2006, is another leader in online learning. Image Source: StockCharts The learning platform is part of the Zacks Technology Services industry group, which currently ranks in the top 35% out of more than 250 Zacks Ranked Industries. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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0a91cec6-676b-4e32-93a6-b7cb5cde31a5
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714577.0
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2023-12-06 00:00:00 UTC
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Choice Hotels (CHH) Boosts Ascend Brand Portfolio With New Hotel
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DCOMP
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https://www.nasdaq.com/articles/choice-hotels-chh-boosts-ascend-brand-portfolio-with-new-hotel
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Choice Hotels International, Inc. CHH expands its upscale portfolio with the unveiling of Mayfair Hotel. This marks the company's fourth hotel in New York City under the Ascend Hotel Collection.
Situated in the heart of New York City's Theatre District, the seven-story (77-room) Mayfair Hotel is adjacent to Broadway's famous theaters. The hotel offers guests a brief walk to Times Square, Hell's Kitchen and other popular NYC attractions. The recently renovated property seamlessly blends historic charm with modern amenities, offering lavish guest rooms, locally-inspired décor and an on-site restaurant and lounge.
Connected by the award-winning loyalty program Choice Privileges, this new property, along with others in the upscale segment, allows members to earn and redeem points at more than 7,000 hotels in 46 countries. The Choice Privileges Mastercard accelerates point accumulation, offering more points on everyday purchases, including gas and groceries.
Focus on Expansion
CHH relies on expansion in domestic and international markets. The company reported sequential increases in its business and group travel demand, driven by increased extended vacations, household relocations and temporary remote work assignments. The transition of leisure travel into mainstream business added to the positives.
The company competes strongly in the upscale segment through its Ascend Hotel Collection, Radisson and Cambria Hotels brands. These upscale offerings cater to diverse guest needs across numerous locations, providing increased value for property owners. It is anticipated to accelerate Cambria and Ascend brands’ growth while expanding the Radisson portfolio.
In 2023, the newly-introduced Everhome Suites extended stay brand experienced a promising start, generating significant interest among developers with 60 ongoing projects. The domestic extended-stay pipeline increased 12% year over year to more than 47,000 rooms as of Sep 30, 2023. At the end of third-quarter 2023, the number of domestic hotels and rooms was more than 6,200 and 490,000, respectively. The company’s domestic pipeline reached about 86,000 rooms.
Image Source: Zacks Investment Research
In the past six months, shares of Choice Hotels have dropped 6.8% against the industry’s 5.7% rise. Although the company underperformed the industry in the said period, its focus on consistent expansion strategies through acquisitions and franchise agreements is likely to boost performance in the upcoming period.
Zacks Rank & Key Picks
Choice Hotels currently sports a Zacks Rank #3 (Hold).
Here are some better-ranked stocks from the Zacks Consumer Discretionary sector:
Royal Caribbean Cruises Ltd. RCL sports a Zacks Rank #1 (Strong Buy). RCL has a trailing four-quarter earnings surprise of 28.3% on average. Shares of RCL have surged 102.1% in the past year. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for RCL’s 2023 sales and earnings per share (EPS) indicates a rise of 57.7% and 187.9%, respectively, from the year-ago period’s levels.
Live Nation Entertainment, Inc. LYV flaunts a Zacks Rank #1. The company has a trailing four-quarter earnings surprise of 37.5% on average. Shares of LYV have increased 14.4% in the past year.
The Zacks Consensus Estimate for LYV’s 2023 sales and EPS indicates a rise of 28.6% and 132.8%, respectively, from the year-ago period’s levels.
Skechers U.S.A., Inc. SKX carries a Zacks Rank #2 (Buy). The company has a trailing four-quarter earnings surprise of 50.3% on average. Shares of SKX have increased 40.8% in the past year.
The Zacks Consensus Estimate for SKX’s 2023 sales and EPS indicates a rise of 8.2% and 44.5%, respectively, from the year-ago period’s levels.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
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
Royal Caribbean Cruises Ltd. (RCL) : Free Stock Analysis Report
Skechers U.S.A., Inc. (SKX) : Free Stock Analysis Report
Choice Hotels International, Inc. (CHH) : Free Stock Analysis Report
Live Nation Entertainment, Inc. (LYV) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The recently renovated property seamlessly blends historic charm with modern amenities, offering lavish guest rooms, locally-inspired décor and an on-site restaurant and lounge. Connected by the award-winning loyalty program Choice Privileges, this new property, along with others in the upscale segment, allows members to earn and redeem points at more than 7,000 hotels in 46 countries. In 2023, the newly-introduced Everhome Suites extended stay brand experienced a promising start, generating significant interest among developers with 60 ongoing projects.
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The company competes strongly in the upscale segment through its Ascend Hotel Collection, Radisson and Cambria Hotels brands. Royal Caribbean Cruises Ltd. RCL sports a Zacks Rank #1 (Strong Buy). Click to get this free report Royal Caribbean Cruises Ltd. (RCL) : Free Stock Analysis Report Skechers U.S.A., Inc. (SKX) : Free Stock Analysis Report Choice Hotels International, Inc. (CHH) : Free Stock Analysis Report Live Nation Entertainment, Inc. (LYV) : Free Stock Analysis Report To read this article on Zacks.com click here.
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The company competes strongly in the upscale segment through its Ascend Hotel Collection, Radisson and Cambria Hotels brands. Zacks Rank & Key Picks Choice Hotels currently sports a Zacks Rank #3 (Hold). Click to get this free report Royal Caribbean Cruises Ltd. (RCL) : Free Stock Analysis Report Skechers U.S.A., Inc. (SKX) : Free Stock Analysis Report Choice Hotels International, Inc. (CHH) : Free Stock Analysis Report Live Nation Entertainment, Inc. (LYV) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Choice Hotels International, Inc. CHH expands its upscale portfolio with the unveiling of Mayfair Hotel. In the past six months, shares of Choice Hotels have dropped 6.8% against the industry’s 5.7% rise. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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8dcfb15c-a5db-40b8-b538-7e7f31d2665a
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714578.0
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2023-12-06 00:00:00 UTC
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ADTRAN (ADTN) Boosts User Base With Solid Mosaic One Traction
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DCOMP
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https://www.nasdaq.com/articles/adtran-adtn-boosts-user-base-with-solid-mosaic-one-traction
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ADTRAN, Inc. ADTN has revealed that it added 300 Mosaic One customers in the past 18 months to strengthen its position as a leading provider of end-to-end fiber broadband solutions and cloud-based software-as-a-service (SaaS) networks. The healthy addition to the subscriber base within a short period speaks volume of the cloud-based network optimization platform that manages broadband access and connected home solutions to proactively solve service issues and boost subscriber experience.
Leveraging three intelligent applications, namely Mosaic One Promote, Mosaic One Care and Mosaic One Operate, the avant-garde platform offers service optimization with the widest gigabit broadband coverage. It monetizes networks by facilitating service providers to unlock new revenue streams and enhance competitiveness to deliver an improved broadband experience.
Mosaic One enables alternative network providers, utilities and regional service providers to capitalize on subscriber intelligence and cloud-delivered SaaS capabilities. This, in turn, connects network events and insights to give a clearer understanding of subscribers’ usage behavior and devices.
Collating and analyzing data from the broadband network gateway and the in-home network, Mosaic One simplifies network operations and helps troubleshoot issues. Integrating a rich set of data visualization and optimization tools, it utilizes an open, multi-vendor architecture to streamline complex processes. This vendor and technology-agnostic solution provides advanced tools to assess bandwidth capacity and identify the drawbacks within the network through automation for higher revenue generation.
The three Mosaic One applications have been specifically designed to focus on customer success, marketing and operations teams. Mosaic One Promote targets subscribers on the basis of their device usage behavior, spurs average revenue per unit and detects churn suspects with high flight risk scores. It minimizes revenue leakage by quickly identifying customers that are mis-provisioned and communicates accurate data to billing for revenue recovery.
Further, the platform automates campaigns across multiple channels, including SMS and email, to accelerate marketing efforts for intelligent subscriber insights. Mosaic One Care reduces expensive truck rolls and promptly resolves customer issues with end-to-end visibility from the access network into the home. Mosaic One Operate effectively monitors and corrects access network alarms to prevent subscriber service issues. This helps in enhancing network uptime supported by plug and play provisioning.
ADTRAN continues to benefit from solid demand trends of its network solutions, driven by the accelerated expansion of fiber-to-the-home networks, upgrades to in-home Wi-Fi connectivity and the adoption of cloud-based automation tools. The company’s end-to-end solutions simplify the deployment of fiber-based broadband services and provide a better customer experience.
It is focused on being a top global supplier of access infrastructure and related value-added solutions from the Cloud Edge to the Subscriber Edge through a broad portfolio of flexible hardware and software network solutions. These products enable a seamless transition to the fully converged, scalable, highly automated, cloud-controlled voice, data, Internet and video networks of the future.
The stock has lost 68.3% in the past year against the industry’s growth of 36.8%.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
ADTRAN currently carries a Zacks Rank #3 (Hold).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Comtech Telecommunications Corp. CMTL, presently carrying a Zacks Rank #2 (Buy), is a solid pick. Headquartered in Melville, NY, the company is a leading global provider of next-generation 911 emergency systems and secure wireless communications technologies to commercial and government customers.
Comtech’s key satellite earth station modems incorporate forward error correction and bandwidth compression technologies, which enable its customers to optimize their satellite networks by either reducing their satellite transponder lease costs or increasing data.
Arista Networks, Inc. ANET, carrying a Zacks Rank #2 at present, is likely to benefit from strong momentum and diversification across its top verticals and product lines. The company has a software-driven, data-centric approach to help customers build their cloud architectures and enhance their cloud experiences. Arista has a long-term earnings growth expectation of 20.4% and delivered an earnings surprise of 12%, on average, in the trailing four quarters.
It holds a leadership position in 100-gigabit Ethernet switching share in port for the high-speed datacenter segment. Arista is increasingly gaining market traction in 200- and 400-gig high-performance switching products and remains well-positioned for healthy growth in data-driven cloud networking business with proactive platforms and predictive operations.
AudioCodes Ltd. AUDC currently carries a Zacks Rank #2. It has a long-term earnings growth expectation of 24.8% and delivered an earnings surprise of 14%, on average, in the trailing four quarters.
Headquartered in Lod, Israel, AudioCodes offers advanced communications software, products, and productivity solutions for the digital workplace. It provides a broad range of innovative products, solutions and services that are used by large multi-national enterprises and leading tier-1 operators around the world.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
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
ADTRAN Holdings, Inc. (ADTN) : Free Stock Analysis Report
Comtech Telecommunications Corp. (CMTL) : Free Stock Analysis Report
AudioCodes Ltd. (AUDC) : Free Stock Analysis Report
Arista Networks, Inc. (ANET) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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ADTRAN, Inc. ADTN has revealed that it added 300 Mosaic One customers in the past 18 months to strengthen its position as a leading provider of end-to-end fiber broadband solutions and cloud-based software-as-a-service (SaaS) networks. Mosaic One Promote targets subscribers on the basis of their device usage behavior, spurs average revenue per unit and detects churn suspects with high flight risk scores. Arista is increasingly gaining market traction in 200- and 400-gig high-performance switching products and remains well-positioned for healthy growth in data-driven cloud networking business with proactive platforms and predictive operations.
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The healthy addition to the subscriber base within a short period speaks volume of the cloud-based network optimization platform that manages broadband access and connected home solutions to proactively solve service issues and boost subscriber experience. Image Source: Zacks Investment Research Zacks Rank & Key Picks ADTRAN currently carries a Zacks Rank #3 (Hold). Click to get this free report ADTRAN Holdings, Inc. (ADTN) : Free Stock Analysis Report Comtech Telecommunications Corp. (CMTL) : Free Stock Analysis Report AudioCodes Ltd. (AUDC) : Free Stock Analysis Report Arista Networks, Inc. (ANET) : Free Stock Analysis Report To read this article on Zacks.com click here.
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The healthy addition to the subscriber base within a short period speaks volume of the cloud-based network optimization platform that manages broadband access and connected home solutions to proactively solve service issues and boost subscriber experience. Collating and analyzing data from the broadband network gateway and the in-home network, Mosaic One simplifies network operations and helps troubleshoot issues. Click to get this free report ADTRAN Holdings, Inc. (ADTN) : Free Stock Analysis Report Comtech Telecommunications Corp. (CMTL) : Free Stock Analysis Report AudioCodes Ltd. (AUDC) : Free Stock Analysis Report Arista Networks, Inc. (ANET) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Leveraging three intelligent applications, namely Mosaic One Promote, Mosaic One Care and Mosaic One Operate, the avant-garde platform offers service optimization with the widest gigabit broadband coverage. The company’s end-to-end solutions simplify the deployment of fiber-based broadband services and provide a better customer experience. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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4feb0484-d15b-41ab-83ab-bda5d5c4a2a1
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714579.0
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2023-12-06 00:00:00 UTC
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3 Midstream Stocks to Gain Despite Volatile Energy Market
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https://www.nasdaq.com/articles/3-midstream-stocks-to-gain-despite-volatile-energy-market
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The initial pandemic period, when there were no vaccines, saw an environment of heightened uncertainties. The price of crude oil plunged to a negative $36.98 per barrel on Apr 20, 2020. However, with the rapid development of vaccines, which led to the gradual opening of the economy, the pricing scenario of West Texas Intermediate crude improved drastically over time to reach $123.64 per barrel on March 8, 2022. Oil price data are per the U.S. Energy Information Administration.
Currently, WTI oil prices are trading at more than $70 per barrel. It’s pretty apparent that the business model of most energy players, by nature, is exposed to extreme volatility in commodity prices. Hence, it would be wise for investors to keep an eye on midstream stocks like Kinder Morgan, Inc. KMI, MPLX LP MPLX and The Williams Companies Inc WMB.
Midstream Energy Players to the Rescue
Although the fate of energy players is highly dependent on oil and gas prices, stocks in midstream space have lower exposure to volatility in commodity prices than oil and gas producers. This is because midstream players generate stable fee-based revenues since shippers are booking the transportation and storage assets for the long term. Hence, their business model is relatively low-risk, which indicates considerably less exposure to oil and gas prices and volume risks.
We have employed our Stock Screener to zero in on three stocks belonging to the midstream energy space that are well-poised to gain, and hence, investors should keep an eye on these stocks. While one stock sports a Zacks Rank #1 (Strong Buy), the remaining two have a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
3 Stocks to Gain
Kinder Morgan: With its operating interests in oil and gas pipeline networks spread across 83,000 miles, KMI is a leading energy infrastructure company in North America. It derives most of its earnings from take-or-pay contracts, generating stable fee-based revenues.
Kinder Morgan, carrying a Zacks Rank #3, is poised to grow on the back of its business model, which is resilient to volume and commodity price risks.
MPLX: The firm, with a Zacks Rank of 3, has ownership and operating interests in midstream energy infrastructure and logistics assets, thereby generating stable cash flow. With a strong focus on returning capital to unit holders, MPLX repurchased $491 million of common units last year. Under its unit repurchase authorization, the partnership has yet to buy back the remaining $846 million of its units.
The Williams Companies: It is well-poised to capitalize on the mounting demand for clean energy since it engages in transporting, storing, gathering and processing natural gas and natural gas liquids.
With its pipeline networks spread across more than 30,000 miles, The Zacks Rank #1 company connects premium basins in the United States to the key market. WMB’s assets can meet 30% of the nation’s consumption of natural gas, which is utilized for heating purposes and clean-energy generation.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
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
Williams Companies, Inc. (The) (WMB) : Free Stock Analysis Report
Kinder Morgan, Inc. (KMI) : Free Stock Analysis Report
MPLX LP (MPLX) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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However, with the rapid development of vaccines, which led to the gradual opening of the economy, the pricing scenario of West Texas Intermediate crude improved drastically over time to reach $123.64 per barrel on March 8, 2022. 3 Stocks to Gain Kinder Morgan: With its operating interests in oil and gas pipeline networks spread across 83,000 miles, KMI is a leading energy infrastructure company in North America. MPLX: The firm, with a Zacks Rank of 3, has ownership and operating interests in midstream energy infrastructure and logistics assets, thereby generating stable cash flow.
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Hence, it would be wise for investors to keep an eye on midstream stocks like Kinder Morgan, Inc. KMI, MPLX LP MPLX and The Williams Companies Inc WMB. 3 Stocks to Gain Kinder Morgan: With its operating interests in oil and gas pipeline networks spread across 83,000 miles, KMI is a leading energy infrastructure company in North America. Click to get this free report Williams Companies, Inc. (The) (WMB) : Free Stock Analysis Report Kinder Morgan, Inc. (KMI) : Free Stock Analysis Report MPLX LP (MPLX) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Midstream Energy Players to the Rescue Although the fate of energy players is highly dependent on oil and gas prices, stocks in midstream space have lower exposure to volatility in commodity prices than oil and gas producers. We have employed our Stock Screener to zero in on three stocks belonging to the midstream energy space that are well-poised to gain, and hence, investors should keep an eye on these stocks. Click to get this free report Williams Companies, Inc. (The) (WMB) : Free Stock Analysis Report Kinder Morgan, Inc. (KMI) : Free Stock Analysis Report MPLX LP (MPLX) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Midstream Energy Players to the Rescue Although the fate of energy players is highly dependent on oil and gas prices, stocks in midstream space have lower exposure to volatility in commodity prices than oil and gas producers. While one stock sports a Zacks Rank #1 (Strong Buy), the remaining two have a Zacks Rank #3 (Hold). Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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f3b1245f-036a-4685-ae69-f7b067762c73
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714580.0
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2023-12-06 00:00:00 UTC
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Air Transport Services (ATSG) Up 0.3% Since Last Earnings Report: Can It Continue?
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DCOMP
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https://www.nasdaq.com/articles/air-transport-services-atsg-up-0.3-since-last-earnings-report%3A-can-it-continue
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A month has gone by since the last earnings report for Air Transport Services (ATSG). Shares have added about 0.3% in that time frame, underperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Air Transport Services due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers.
Q3 Earnings Miss at ATSG
Air Transport Services' third-quarter 2023 quarterly earnings per share (excluding 8 cents from non-recurring items) of 32 cents missed the Zacks Consensus Estimate of 49 cents and declined 46.7% year over year. Revenues of $523.1 million surpassed the Zacks Consensus Estimate of $522.7 million and rose 1.2% year over year.
Air Transport Services’ total fleet in service included 130 aircraft (18 passengers and 112 freighters) at the end of third-quarter 2023 compared with 124 a year ago. Total operating expenses increased 7.4% to $477 million.
Adjusted EBITDA plunged 16% year over year to $137 million. Operating cash flow fell to $117.5 million from $147.9 million a year ago. In the third quarter, adjusted free cash flow was $68.8 million compared with $91.4 million in the prior year.
Management expects 2023 adjusted EBITDA in the range of $560-$580 million (prior view: $610-$620 million). For 2023, ATSG is still projecting $785 million in total capex spend, including $545 million for growth and $240 million in sustaining capex. However, it further reduces its 2024 capex plan to $505 million, down $100 million in growth capex. Management suggests 2023 EPS in the $1.50-$1.70 band (prior view: $1.85 - $2.00).
How Have Estimates Been Moving Since Then?
It turns out, estimates review have trended downward during the past month.
The consensus estimate has shifted -41.41% due to these changes.
VGM Scores
At this time, Air Transport Services has an average Growth Score of C, though it is lagging a lot on the Momentum Score front with an F. However, the stock was allocated a grade of A on the value side, putting it in the top quintile for this investment strategy.
Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Notably, Air Transport Services has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Performance of an Industry Player
Air Transport Services is part of the Zacks Transportation - Air Freight and Cargo industry. Over the past month, United Parcel Service (UPS), a stock from the same industry, has gained 8.7%. The company reported its results for the quarter ended September 2023 more than a month ago.
UPS reported revenues of $21.06 billion in the last reported quarter, representing a year-over-year change of -12.8%. EPS of $1.57 for the same period compares with $2.99 a year ago.
UPS is expected to post earnings of $2.49 per share for the current quarter, representing a year-over-year change of -31.2%. Over the last 30 days, the Zacks Consensus Estimate has changed -1.2%.
The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for UPS. Also, the stock has a VGM Score of C.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
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
Air Transport Services Group, Inc (ATSG) : Free Stock Analysis Report
United Parcel Service, Inc. (UPS) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Will the recent positive trend continue leading up to its next earnings release, or is Air Transport Services due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers. As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys."
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Q3 Earnings Miss at ATSG Air Transport Services' third-quarter 2023 quarterly earnings per share (excluding 8 cents from non-recurring items) of 32 cents missed the Zacks Consensus Estimate of 49 cents and declined 46.7% year over year. In the third quarter, adjusted free cash flow was $68.8 million compared with $91.4 million in the prior year. Click to get this free report Air Transport Services Group, Inc (ATSG) : Free Stock Analysis Report United Parcel Service, Inc. (UPS) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Q3 Earnings Miss at ATSG Air Transport Services' third-quarter 2023 quarterly earnings per share (excluding 8 cents from non-recurring items) of 32 cents missed the Zacks Consensus Estimate of 49 cents and declined 46.7% year over year. Revenues of $523.1 million surpassed the Zacks Consensus Estimate of $522.7 million and rose 1.2% year over year. Click to get this free report Air Transport Services Group, Inc (ATSG) : Free Stock Analysis Report United Parcel Service, Inc. (UPS) : Free Stock Analysis Report To read this article on Zacks.com click here.
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A month has gone by since the last earnings report for Air Transport Services (ATSG). In the third quarter, adjusted free cash flow was $68.8 million compared with $91.4 million in the prior year. Over the last 30 days, the Zacks Consensus Estimate has changed -1.2%.
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bfcca740-0265-4376-95ce-8a59ae9a740f
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714581.0
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2023-12-06 00:00:00 UTC
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Aspen Technology (AZPN) Up 10.8% Since Last Earnings Report: Can It Continue?
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DCOMP
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https://www.nasdaq.com/articles/aspen-technology-azpn-up-10.8-since-last-earnings-report%3A-can-it-continue
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It has been about a month since the last earnings report for Aspen Technology (AZPN). Shares have added about 10.8% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Aspen Technology due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts.
Aspen Q1 Earnings Miss Estimates
Aspen reported first-quarter fiscal 2024 non-GAAP earnings per share (EPS) of $1.16, which missed the Zacks Consensus Estimate of $1.41. AZPN reported non-GAAP EPS of $2.20 in the year-ago quarter.
Revenues of $249.3 million lagged the Zacks Consensus Estimate by 3.5%. The company reported revenues of $250.8 million in the prior-year quarter. The year-over-year decline was due to weakness in the License and solutions business segment.
Quarter in Detail
License’s revenues (59.5% of revenues) were down 7.2% year over year to $148.6 million.
Maintenance’s revenues (34.1%) rose 8.4% year over year to $84.9 million.
Revenues from Services and other (6.4%) increased 28.3% from the year-ago quarter’s figure to $15.6 million.
The Zacks Consensus Estimate for fiscal first-quarter revenues for the License, Maintenance and Services segments was pegged at $161 million, $84 million and $13.87 million, respectively.
As of Sep 30, 2023, the annual spend (which Aspen Technology defines as the annualized value of all term license and maintenance contracts at the quarter end other than Open Systems International and Subsurface Science and Engineering) totaled $897.6 million, up 10.9% year over year and 1.4% quarter over quarter.
Margins
Gross profit decreased to $151.2 million from the year-ago quarter’s $159.6 million. As a percentage of total revenues, the figure reached 60.1% from 63.7% reported in the prior-year quarter.
Total operating expenses amounted to $211.4 million from the year-ago quarter’s $210.8 million due to higher selling, marketing, and research and development costs.
Non-GAAP operating income totaled $77.8 million compared with $92.6 million reported in the year-ago quarter.
Balance Sheet & Cash Flow
As of Sep 30, 2023, cash and cash equivalents were $120.5 million compared with $241.2 million as of Jun 30, 2023.
The company generated $17 million in cash from operations compared with $5.1 million reported in the previous quarter. Non-GAAP free cash flow was $16 million in the fiscal first quarter.
Fiscal 2024 View
For fiscal 2024, Aspen expects revenues to be at least $1.12 billion. Non-GAAP net income is anticipated to be at least $6.57 per share.
Management projects Annual Contract Value growth to be at least 11.5% year over year and total bookings to be at least $1.04 billion.
Non-GAAP operating income is estimated to be at least $445 million, while non-GAAP total expenses are expected to be nearly $675 million.
Free cash flow is projected to be at least $360 million.
How Have Estimates Been Moving Since Then?
In the past month, investors have witnessed an upward trend in estimates review.
The consensus estimate has shifted 15.63% due to these changes.
VGM Scores
At this time, Aspen Technology has an average Growth Score of C, a grade with the same score on the momentum front. Charting a somewhat similar path, the stock was allocated a grade of D on the value side, putting it in the bottom 40% for this investment strategy.
Overall, the stock has an aggregate VGM Score of D. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been trending upward for the stock, and the magnitude of these revisions looks promising. It comes with little surprise Aspen Technology has a Zacks Rank #2 (Buy). We expect an above average return from the stock in the next few months.
Performance of an Industry Player
Aspen Technology belongs to the Zacks Internet - Software industry. Another stock from the same industry, Fortinet (FTNT), has gained 6.1% over the past month. More than a month has passed since the company reported results for the quarter ended September 2023.
Fortinet reported revenues of $1.33 billion in the last reported quarter, representing a year-over-year change of +16.1%. EPS of $0.41 for the same period compares with $0.33 a year ago.
For the current quarter, Fortinet is expected to post earnings of $0.43 per share, indicating a change of -2.3% from the year-ago quarter. The Zacks Consensus Estimate remained unchanged over the last 30 days.
Fortinet has a Zacks Rank #3 (Hold) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of B.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
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
Aspen Technology, Inc. (AZPN) : Free Stock Analysis Report
Fortinet, Inc. (FTNT) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Will the recent positive trend continue leading up to its next earnings release, or is Aspen Technology due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts. As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys."
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Aspen Q1 Earnings Miss Estimates Aspen reported first-quarter fiscal 2024 non-GAAP earnings per share (EPS) of $1.16, which missed the Zacks Consensus Estimate of $1.41. The Zacks Consensus Estimate for fiscal first-quarter revenues for the License, Maintenance and Services segments was pegged at $161 million, $84 million and $13.87 million, respectively. Click to get this free report Aspen Technology, Inc. (AZPN) : Free Stock Analysis Report Fortinet, Inc. (FTNT) : Free Stock Analysis Report To read this article on Zacks.com click here.
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The Zacks Consensus Estimate for fiscal first-quarter revenues for the License, Maintenance and Services segments was pegged at $161 million, $84 million and $13.87 million, respectively. As of Sep 30, 2023, the annual spend (which Aspen Technology defines as the annualized value of all term license and maintenance contracts at the quarter end other than Open Systems International and Subsurface Science and Engineering) totaled $897.6 million, up 10.9% year over year and 1.4% quarter over quarter. Click to get this free report Aspen Technology, Inc. (AZPN) : Free Stock Analysis Report Fortinet, Inc. (FTNT) : Free Stock Analysis Report To read this article on Zacks.com click here.
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It has been about a month since the last earnings report for Aspen Technology (AZPN). The Zacks Consensus Estimate for fiscal first-quarter revenues for the License, Maintenance and Services segments was pegged at $161 million, $84 million and $13.87 million, respectively. Non-GAAP operating income totaled $77.8 million compared with $92.6 million reported in the year-ago quarter.
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c5cbaf3f-dfe1-410e-b678-3d0aab56d132
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714582.0
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2023-12-06 00:00:00 UTC
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2 Laser Systems Stocks to Watch in a Challenging Industry
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DCOMP
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https://www.nasdaq.com/articles/2-laser-systems-stocks-to-watch-in-a-challenging-industry
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The Zacks Laser Systems and Components industry is suffering from challenging macroeconomic conditions globally, weak economic conditions in Europe, a sluggish economic environment in China, softer demand in industrial markets, and lackluster capital equipment spending. However, industry participants like IPG Photonics IPGP and Lumentum LITE benefit from upbeat demand from electric vehicles, electronics, semiconductors and healthcare end-markets. Robust demand for high-power continuous wave and pulsed laser for cutting and battery-processing applications, growing demand for high-performance optical devices, and the ongoing adoption of cloud computing, autonomous driving, IoT and 5G are the key catalysts.
Industry Description
The Zacks Laser Systems and Components industry comprises companies offering high-performance fiber lasers, fiber amplifiers and diode lasers, optical and photonic products, and scanning technology solutions. The key end markets are semiconductors, metrology, advanced communication and medical devices. Industry participants also provide high-precision 3D sensors and system products for inspection and metrology. Moreover, in the medical devices space, laser and other energy-based aesthetic treatments can achieve therapeutic results by affecting structures within the skin. Developing safe and effective aesthetic treatments has resulted in a well-established market for these procedures. The industry also operates in the cyclical surface mount technology and semiconductor capital equipment markets.
3 Laser Systems & Components Industry Trends to Watch
Emerging Applications Driving Demand for Lasers: The industry is benefiting from increasing demand for emerging applications like additive manufacturing, facial recognition, gesture recognition, LiDAR applications and IoT. Advanced lasers, especially those with 3D sensing (3DS) capabilities, are enhancing interactions using technology. Notably, 3DS — the technology that allows users to create 3D printable objects, control games with body gestures and measure objects — is in high demand.
Laser-IoT Combination Supports Efficiency: As industries are increasingly adopting automation techniques, combining lasers with IoT improves operating efficiency. IoT-supported manufacturing equipment is far easier to update with firmware. The combination reduces costs and increases the flexibility and reliability manifold by enabling material-handling capabilities through remote sources. Strong demand from semiconductor and allied markets, which are seeing a rapid shift toward the production of micro and nano devices, is another positive for industry participants.
Challenging Macroeconomic Condition Hurts Prospect: Industry participants suffer from sluggish capital spending by original equipment manufacturers. Moreover, raging inflation, a strong U.S. dollar, energy headwinds in Europe and weakness in China are expected to hurt industry participants in the near term.
Zacks Industry Rank Indicates Dim Prospects
The Zacks Laser Systems and Components industry is housed within the broader Zacks Computer and Technology sector. It carries a Zacks Industry Rank #173, which places it in the bottom 31% of more than 250 Zacks industries.
The group’s Zacks Industry Rank, which is the average of the Zacks Rank of all the member stocks, indicates bearish near-term prospects. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Despite the lackluster outlook, there are a few stocks worth watching in the industry. But before we present the top industry picks, it is worth looking at the industry’s shareholder returns and current valuation first.
Industry Underperforms Broader Sector and S&P 500
The Zacks Laser Systems and Components industry has underperformed the broader Zacks Computer and Technology sector and the S&P 500 composite over the past year.
The industry has declined 19% over this period against the S&P 500’s rise of 16.1% and the broader sector’s return of 36.8%.
One-Year Price Performance
Industry's Current Valuation
On the basis of the trailing 12-month P/S, which is a commonly used multiple for valuing Laser Systems and Components stocks, we see that the industry is currently trading at 5.94X compared with the S&P 500’s 3.83X. It is also trading above the sector’s trailing 12-month P/S of 3.72X.
Over the last five years, the industry has traded as high as 12.64X and as low as 3.19X, with a median of 6.06X, as the charts below show:
Trailing 12-Month Price-to-Sales (P/S) Ratio
2 Laser Stocks to Watch
IPG Photonics: Oxford, MA-based IPG Photonics develops and manufactures fiber and diode lasers, fiber amplifiers, and transceivers for diverse applications like materials processing, advanced applications, communications and medical. The stock has gained 7.9% in the year-to-date period.
IPG Photonics benefits from solid demand for AMB lasers, LightWELD, green and ultrafast lasers, as well as beam delivery. IPG expects medical sales to recover to normal levels in the third quarter. Its diversifying revenue base and declining exposure to low-margin businesses are the key catalysts. Focus on expanding footprint in the e-mobility and renewable energy end-markets are drivers.
The Zacks Consensus Estimate for IPGP’s 2023 earnings has been unchanged at $4.69 per share in the past 30 days. IPG Photonics currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Price & Consensus: IPGP
Lumentum: This San Jose, CA-based company anticipates strong growth in Cloud & Networking revenues, driven by an accelerating demand for AI in 2024. It expects cloud applications to drive more than 30% of Lumentum cloud and networking revenues.
LITE shares have lost 18.9% in the past year. The consensus mark for this Zacks Rank #3 company’s fiscal 2024 earnings has declined 17.69% to $1.54 per share over the past 30 days.
Price & Consensus: LITE
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
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
IPG Photonics Corporation (IPGP) : Free Stock Analysis Report
Lumentum Holdings Inc. (LITE) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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However, industry participants like IPG Photonics IPGP and Lumentum LITE benefit from upbeat demand from electric vehicles, electronics, semiconductors and healthcare end-markets. Over the last five years, the industry has traded as high as 12.64X and as low as 3.19X, with a median of 6.06X, as the charts below show: Trailing 12-Month Price-to-Sales (P/S) Ratio 2 Laser Stocks to Watch IPG Photonics: Oxford, MA-based IPG Photonics develops and manufactures fiber and diode lasers, fiber amplifiers, and transceivers for diverse applications like materials processing, advanced applications, communications and medical. Price & Consensus: IPGP Lumentum: This San Jose, CA-based company anticipates strong growth in Cloud & Networking revenues, driven by an accelerating demand for AI in 2024.
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The Zacks Laser Systems and Components industry is suffering from challenging macroeconomic conditions globally, weak economic conditions in Europe, a sluggish economic environment in China, softer demand in industrial markets, and lackluster capital equipment spending. 3 Laser Systems & Components Industry Trends to Watch Emerging Applications Driving Demand for Lasers: The industry is benefiting from increasing demand for emerging applications like additive manufacturing, facial recognition, gesture recognition, LiDAR applications and IoT. Click to get this free report IPG Photonics Corporation (IPGP) : Free Stock Analysis Report Lumentum Holdings Inc. (LITE) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Industry Description The Zacks Laser Systems and Components industry comprises companies offering high-performance fiber lasers, fiber amplifiers and diode lasers, optical and photonic products, and scanning technology solutions. Zacks Industry Rank Indicates Dim Prospects The Zacks Laser Systems and Components industry is housed within the broader Zacks Computer and Technology sector. Industry Underperforms Broader Sector and S&P 500 The Zacks Laser Systems and Components industry has underperformed the broader Zacks Computer and Technology sector and the S&P 500 composite over the past year.
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The Zacks Laser Systems and Components industry is suffering from challenging macroeconomic conditions globally, weak economic conditions in Europe, a sluggish economic environment in China, softer demand in industrial markets, and lackluster capital equipment spending. Zacks Industry Rank Indicates Dim Prospects The Zacks Laser Systems and Components industry is housed within the broader Zacks Computer and Technology sector. IPG Photonics currently has a Zacks Rank #3 (Hold).
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714583.0
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2023-12-06 00:00:00 UTC
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Reasons to Retain RBC Bearings (RBC) Stock in Your Portfolio
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https://www.nasdaq.com/articles/reasons-to-retain-rbc-bearings-rbc-stock-in-your-portfolio
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RBC Bearings Incorporated RBC is aided by strength in the Industrial and Aerospace/Defense segments, and accretive acquisitions despite softness in the semiconductor market and the rising cost of sales.
What’s Aiding RBC?
Business Strength: Recovery in build rates from large OEMs (original equipment manufacturer) and stability in the aftermarket are driving RBC’s Aerospace/Defense segment. Strength in the food and beverage, mining, energy and general industrial end markets buoys optimism for the Industrial segment.
Expansion Efforts: RBC has expanded its reach with the acquisition of Carson City, NV-based precision bearings manufacturer Specline, Inc. in August 2023. Specline’s unique bearing and manufacturing processes expanded RBC Bearings’ aerospace product offerings and boosted the company’s production capacity.
Product Development Initiatives: The company is well-poised to benefit from its product development initiatives and robust demand for large planes like the Airbus 737, 787, A320 and A330 in the quarters ahead. Additional volume increases, driven by RBC Bearings’ space initiatives, are also likely to be beneficial.
Rewards to Shareholders: RBC’s measures to reward its shareholders through dividend payments are noteworthy. In the first six months of fiscal 2024 (ended September 2023), the company paid dividends of $11.5 million and repurchased shares for $7 million, increasing 17.3% year over year.
In light of the above-mentioned positives, we believe, investors should retain RBC stock for now, as suggested by its current Zacks Rank #3 (Hold). In the past year, shares of the company have gained 17.3% compared with the industry’s 13% increase.
Image Source: Zacks Investment Research
Stocks to Consider
Some better-ranked companies from the Industrial Products sector are discussed below:
Flowserve Corporation FLS presently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
FLS delivered a trailing four-quarter average earnings surprise of 27.3%. In the past 60 days, the Zacks Consensus Estimate for Flowserve’s 2023 earnings has increased 3.3%. The stock has risen 49% in the past year.
Applied Industrial Technologies, Inc. AIT presently carries a Zacks Rank of 2. It has a trailing four-quarter average earnings surprise of 13.9%.
The consensus estimate for AIT’s fiscal 2024 earnings has increased 3.7% in the past 60 days. Shares of Applied Industrial have jumped 31% in the past year.
A. O. Smith Corporation AOS currently carries a Zacks Rank of 2. The company delivered a trailing four-quarter average earnings surprise of 14%.
In the past 60 days, the consensus estimate for A. O. Smith’s 2023 earnings has improved 5%. The stock has risen 28.7% in the past year.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
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
A. O. Smith Corporation (AOS) : Free Stock Analysis Report
RBC Bearings Incorporated (RBC) : Free Stock Analysis Report
Flowserve Corporation (FLS) : Free Stock Analysis Report
Applied Industrial Technologies, Inc. (AIT) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Business Strength: Recovery in build rates from large OEMs (original equipment manufacturer) and stability in the aftermarket are driving RBC’s Aerospace/Defense segment. Expansion Efforts: RBC has expanded its reach with the acquisition of Carson City, NV-based precision bearings manufacturer Specline, Inc. in August 2023. In light of the above-mentioned positives, we believe, investors should retain RBC stock for now, as suggested by its current Zacks Rank #3 (Hold).
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Flowserve Corporation FLS presently carries a Zacks Rank #2 (Buy). Applied Industrial Technologies, Inc. AIT presently carries a Zacks Rank of 2. Click to get this free report A. O. Smith Corporation (AOS) : Free Stock Analysis Report RBC Bearings Incorporated (RBC) : Free Stock Analysis Report Flowserve Corporation (FLS) : Free Stock Analysis Report Applied Industrial Technologies, Inc. (AIT) : Free Stock Analysis Report To read this article on Zacks.com click here.
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RBC Bearings Incorporated RBC is aided by strength in the Industrial and Aerospace/Defense segments, and accretive acquisitions despite softness in the semiconductor market and the rising cost of sales. Image Source: Zacks Investment Research Stocks to Consider Some better-ranked companies from the Industrial Products sector are discussed below: Click to get this free report A. O. Smith Corporation (AOS) : Free Stock Analysis Report RBC Bearings Incorporated (RBC) : Free Stock Analysis Report Flowserve Corporation (FLS) : Free Stock Analysis Report Applied Industrial Technologies, Inc. (AIT) : Free Stock Analysis Report To read this article on Zacks.com click here.
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RBC Bearings Incorporated RBC is aided by strength in the Industrial and Aerospace/Defense segments, and accretive acquisitions despite softness in the semiconductor market and the rising cost of sales. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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4438969d-136f-400e-b552-dc9bdb45575e
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714584.0
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2023-12-06 00:00:00 UTC
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Why Take-Two Interactive Stock Went Up 18% in November
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DCOMP
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https://www.nasdaq.com/articles/why-take-two-interactive-stock-went-up-18-in-november
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nan
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Shares of video game publisher Take-Two Interactive (NASDAQ: TTWO) went up 18.3% in November, according to data provided by S&P Global Market Intelligence. The company reported financial results during the month that weren't very good. But the stock went up anyway because the market is looking past this most recent quarter to its upcoming pipeline of video game titles.
The numbers that Take-Two reported on Nov. 8 were objectively bad. The report covered the fiscal second quarter of 2024, showing a 7% year-over-year drop in net revenue and a huge net loss of $543.6 million. Moreover, management maintained its full-year revenue guidance but lowered its expectations for full-year profits.
Wall Street didn't seem to care, with most analysts upgrading their outlooks for Take-Two stock. For example, Benjamin Soff of Deutsche Bank upgraded his outlook from hold to buy on Nov. 14, according to TipRanks. And he didn't cite the company's numbers. Rather, Soff pointed ahead to the upcoming release of Grand Theft Auto VI for his bullish outlook.
Grand Theft Auto VI isn't the only game title that Take-Two is preparing to release -- the company has seven other major games coming in the next couple of years. The hope is that a strong lineup will lead to a surge in excitement from gamers, who will spend more money. And that's why Take-Two stock was up in November despite lackluster financial results.
Making it through fiscal 2024
Take-Two's fiscal 2024 started in April and goes through March 2024. I don't want to portray it as a dying company, because nothing could be further from the truth. Growth is lackluster, with full-year revenue only expected to grow by 2% year over year at most. But management is guiding for its revenue to be at an all-time high in fiscal 2024 -- that's impressive, considering the video game business is soft right now.
That said, fiscal 2024 is an expensive year for Take-Two Interactive. Games don't make themselves. At the start of this fiscal year, Take-Two had about 8,900 people working in its development studio. Many of these workers are from Zynga, which was acquired by Take-Two. But still, this development studio head count has more than doubled since the start of fiscal 2021.
Take-Two needs more people if it's going to launch its pipeline of games. But this increases operating expenses, and it's a big reason why management expects a full-year net loss of $910 million to $957 million.
Looking ahead to fiscal 2025
Whereas it expects bookings of about $5.5 billion in this fiscal 2024, Take-Two's management believes its pipeline of games can allow it to hit $8 billion in bookings in fiscal 2025. That would be huge growth and, again, this is what the market is getting excited about.
The trailer for Take-Two's Grand Theft Auto VI leaked at the beginning of December and set a YouTube record for views in 24 hours. Therefore, it seems like the excitement is truly building for what this company has coming in the near future.
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Jon Quast has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Take-Two Interactive Software. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Shares of video game publisher Take-Two Interactive (NASDAQ: TTWO) went up 18.3% in November, according to data provided by S&P Global Market Intelligence. But management is guiding for its revenue to be at an all-time high in fiscal 2024 -- that's impressive, considering the video game business is soft right now. The trailer for Take-Two's Grand Theft Auto VI leaked at the beginning of December and set a YouTube record for views in 24 hours.
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Rather, Soff pointed ahead to the upcoming release of Grand Theft Auto VI for his bullish outlook. Grand Theft Auto VI isn't the only game title that Take-Two is preparing to release -- the company has seven other major games coming in the next couple of years. Looking ahead to fiscal 2025 Whereas it expects bookings of about $5.5 billion in this fiscal 2024, Take-Two's management believes its pipeline of games can allow it to hit $8 billion in bookings in fiscal 2025.
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Grand Theft Auto VI isn't the only game title that Take-Two is preparing to release -- the company has seven other major games coming in the next couple of years. Looking ahead to fiscal 2025 Whereas it expects bookings of about $5.5 billion in this fiscal 2024, Take-Two's management believes its pipeline of games can allow it to hit $8 billion in bookings in fiscal 2025. 10 stocks we like better than Take-Two Interactive Software When our analyst team has a stock tip, it can pay to listen.
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But the stock went up anyway because the market is looking past this most recent quarter to its upcoming pipeline of video game titles. Grand Theft Auto VI isn't the only game title that Take-Two is preparing to release -- the company has seven other major games coming in the next couple of years. That said, fiscal 2024 is an expensive year for Take-Two Interactive.
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714585.0
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2023-12-06 00:00:00 UTC
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CTO Realty (CTO) Sells Assets, Ups Financial Strength, Stock Up
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DCOMP
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https://www.nasdaq.com/articles/cto-realty-cto-sells-assets-ups-financial-strength-stock-up
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nan
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In a significant move to fortify its financial position, CTO Realty Growth, Inc. CTO recently closed the sale of three single-tenant outparcels in Chandler, AZ, for a combined price of $9.2 million. Reflecting positive sentiments, CTO Realty shares increased 1.9% in the past two days.
This move marks a notable achievement for the company. The outparcels, occupied by Olive Garden, Old Chicago Pizza + Taproom and Mattress Firm, were part of the Crossroads Towne Center property. The weighted average exit cap rate of 5.9% and aggregate gains of approximately $3 million underscore the attractiveness of these dispositions.
Year to date, CTO Realty has demonstrated a strategic focus on optimizing its portfolio. The company has successfully sold eight properties, totaling $65.1 million in disposition volume. The weighted average exit cap rate stands at 6.4%, generating gains of $7.1 million. This aligns with the company's ongoing effort to divest smaller format properties, channeling the proceeds toward debt reduction and seeking higher growth opportunities in larger formats.
John P. Albright, the president and CEO of CTO Realty Growth, emphasized the positive impact of these dispositions on the company's financial health. He stated, "Our year-to-date dispositions cap rate of 6.4% is accretive to the $64 million of debt we recently repaid, which had an in-place floating rate of 7.1%." This strategic move not only reduces debt but also positions CTO favorably against its recent acquisition in Dallas, TX, showcasing management's adept navigation of market dynamics.
The sales proceeds were utilized as part of a Section 1031 like-kind exchange. It allowed the company to repay $64 million of its outstanding debt under the unsecured revolving credit facility. Post-repayment, CTO Realty maintains $148 million in undrawn commitments under its credit facility, providing ample liquidity for future strategic moves.
In November, the company closed the sale of Eastern Commons Shopping Center in Henderson, NV, for $18.2 million, reflecting an exit cap rate of 7.4%. This move aligns with CTO Realty's initiative to optimize its portfolio. Similarly, in October, the sale of Westcliff Shopping Center in Fort Worth, TX, and Reston Metro Center II in Reston, VA, demonstrated the company's commitment to refining its asset mix.
The strategic divestiture of Westcliff Shopping Center, a 134,750-square-foot community shopping center, occurred at $14.8 million with an exit cap rate of 5.2%. Reston Metro Center II, a 64,319-square-foot single-tenant office property leased to General Dynamics, was sold for $18.5 million, reflecting an exit cap rate of 7.2%.
These transactions align with the company's strategy to recycle non-core assets into core retail shopping center properties in business-friendly growth markets.
In conclusion, CTO Realty's strategic dispositions reflect a proactive approach to portfolio optimization, debt reduction and tax-efficient capital deployment. The company's commitment to refining its portfolio while strategically positioning itself for future opportunities bodes well for its financial resilience and long-term growth potential. Investors should closely monitor CTO Realty Growth as it continues to navigate the dynamic real estate landscape with a focus on value creation.
Shares of this Zacks Rank #3 (Hold) company have rallied 6.2% in the past month but underperformed the real estate market’s growth of 11%.
Image Source: Zacks Investment Research
Stocks to Consider
Some better-ranked stocks from the REIT sector are Tanger Factory Outlet Centers SKT and Acadia Realty Trust AKR. While Tanger Factory Outlet Centers sports a Zacks Rank #1 (Strong Buy), Acadia Realty Trust carries a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Tanger Factory Outlet Centers’ current-year FFO per share has moved marginally northward over the past month to $1.94.
The Zacks Consensus Estimate for Acadia Realty Trust’s current-year FFO per share has moved marginally northward over the past month to $1.31.
Note: Anything related to earnings presented in this write-up represents FFO — a widely used metric to gauge the performance of REITs.
Disclaimer: This article has been written with the assistance of Generative AI. However, the author has reviewed, revised, supplemented, and rewritten parts of this content to ensure its originality and the precision of the incorporated information.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
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
Acadia Realty Trust (AKR) : Free Stock Analysis Report
Tanger Inc. (SKT) : Free Stock Analysis Report
CTO Realty Growth, Inc. (CTO) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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This strategic move not only reduces debt but also positions CTO favorably against its recent acquisition in Dallas, TX, showcasing management's adept navigation of market dynamics. Post-repayment, CTO Realty maintains $148 million in undrawn commitments under its credit facility, providing ample liquidity for future strategic moves. Reston Metro Center II, a 64,319-square-foot single-tenant office property leased to General Dynamics, was sold for $18.5 million, reflecting an exit cap rate of 7.2%.
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While Tanger Factory Outlet Centers sports a Zacks Rank #1 (Strong Buy), Acadia Realty Trust carries a Zacks Rank #2 (Buy) at present. The Zacks Consensus Estimate for Tanger Factory Outlet Centers’ current-year FFO per share has moved marginally northward over the past month to $1.94. Click to get this free report Acadia Realty Trust (AKR) : Free Stock Analysis Report Tanger Inc. (SKT) : Free Stock Analysis Report CTO Realty Growth, Inc. (CTO) : Free Stock Analysis Report To read this article on Zacks.com click here.
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In a significant move to fortify its financial position, CTO Realty Growth, Inc. CTO recently closed the sale of three single-tenant outparcels in Chandler, AZ, for a combined price of $9.2 million. Image Source: Zacks Investment Research Stocks to Consider Some better-ranked stocks from the REIT sector are Tanger Factory Outlet Centers SKT and Acadia Realty Trust AKR. Click to get this free report Acadia Realty Trust (AKR) : Free Stock Analysis Report Tanger Inc. (SKT) : Free Stock Analysis Report CTO Realty Growth, Inc. (CTO) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Reston Metro Center II, a 64,319-square-foot single-tenant office property leased to General Dynamics, was sold for $18.5 million, reflecting an exit cap rate of 7.2%. Image Source: Zacks Investment Research Stocks to Consider Some better-ranked stocks from the REIT sector are Tanger Factory Outlet Centers SKT and Acadia Realty Trust AKR. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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fa60f8ef-9b37-44e6-8ce6-fb2f40f441e7
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714586.0
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2023-12-06 00:00:00 UTC
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3 Stocks to Watch From the Prospering Computer Industry
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https://www.nasdaq.com/articles/3-stocks-to-watch-from-the-prospering-computer-industry
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The Zacks Computer – Mini Computers industry is benefiting from steady demand for enterprise devices, including laptops, tablets and smartphones. Industry participants like Apple AAPL, HP HPQ and 3D Systems DDD are benefiting from these trends. The improving availability of 5G-enabled smartphones has been a key catalyst for the industry participants. The launch of foldable, and AI and ML-infused smartphones, tablets, wearables and hearables is another major growth driver for the industry participants. Robust demand for production printers, materials and software bodes well for 3-D printing solution providers. However, waning demand for consumer PCs and geopolitical challenges, including raging inflation and high interest, are major headwinds.
Industry Description
The Zacks Computer – Mini Computers industry comprises companies that offer smartphones, desktops, laptops, printers, wearables and 3-D printers. Such devices are based either on iOS, MacOS, iPadOS, WatchOS, Microsoft Windows, or Google Chrome and Android operating systems. The companies predominantly use processors from Apple, Intel, AMD, Qualcomm, NVIDIA and Samsung. Expanding screen size, better display and enhanced storage capabilities have been the key catalysts driving the rapid proliferation of smartphones. This has been well-supported by faster mobile processors. Laptops, both consumer and commercial, benefit from faster processors, sleek designs and expanded storage facilities. The addition of healthcare features has been driving the demand for wearables.
3 Mini Computer Industry Trends to Watch
Enterprise Adoption Remains Healthy: Strong enterprise demand has been benefiting the industry participants. The growing adoption of a hybrid working environment bodes well for the players, as demand for laptops and tablets is expected to increase. Demand for smart devices that offer facial recognition, retina scans or finger impressions to verify the user for biometrics is gaining traction as enterprises enhance security.
Impressive Form Factor Drives Demand: Expanding screen size, better display and enhanced storage capabilities have been the key catalysts driving the rapid proliferation of smartphones and tablets. This has been well-supported by faster mobile processors from the likes of Qualcomm, NVIDIA, Apple and Samsung. Improved Internet penetration and speed, along with the evolution of mobile apps, have made smartphones indispensable for consumers. Improved graphics quality is making smartphones suitable for playing sophisticated games. This is driving the demand for high-end smartphones and opening up significant opportunities for device makers.
PCs Face Extinction Risk: Personal computers (desktops and laptops), be it Windows or Apple’s MacOS-based ones, have been facing the risk of extinction due to the rapid proliferation of smartphones and tablets. Stiff competition from smartphones has compelled global PC makers to not only upgrade hardware frequently but also add apps and cloud-based services to attract consumers. Nevertheless, the emergence of 5G, AI, machine learning and foldable computers is likely to be the key catalysts in expanding the total addressable market of PCs.
Zacks Industry Rank Indicates Bright Prospects
The Zacks Computer – Mini Computers industry is housed within the broader Zacks Computer and Technology sector. It carries a Zacks Industry Rank #37, which places it in the top 15% of more than 250 Zacks industries.
The group’s Zacks Industry Rank, which is the average of the Zacks Rank of all the member stocks, indicates bright near-term prospects. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than two to one.
The industry’s position in the top 50% of the Zacks-ranked industries is a result of a positive earnings outlook for the constituent companies in aggregate. Looking at the aggregate earnings estimate revisions, it appears that analysts are optimistic about this group’s earnings growth potential. Since Oct 31, 2023, the Zacks Consensus Estimate for this industry’s 2024 earnings has moved up 0.3%.
Given the bullish outlook, there are a few stocks worth watching in the sector. But before we present those stocks that you may want to consider for your portfolio, let’s take a look at the industry’s recent stock-market performance and valuation picture.
Industry Lags Sector Beats S&P 500
The Zacks Computer – Mini Computers industry has underperformed the broader Zacks Computer and Technology sector but beat the S&P 500 index over the past year.
The industry has gained 33.9% over this period compared with the S&P 500’s return of 16.4% and the broader sector’s rise of 37.8%.
One-Year Price Performance
Industry's Current Valuation
On the basis of forward 12-month P/E, which is a commonly used multiple for valuing computer stocks, we see that the industry is currently trading at 27.81X compared with the S&P 500’s 19.17X and the sector’s 24.04X.
Over the last five years, the industry has traded as high as 32.32X and as low as 11.49X, with the median being 24.43X, as the chart below shows.
Forward 12-Month Price-to-Earnings (P/E) Ratio
3 Computer Stocks to Watch Right Now
3D Systems: This Zacks Rank #1 (Strong Buy) company expects the dental market to stabilize amid the high inventory level in the supply chain and weakness in consumer discretionary spending. You can see the complete list of today’s Zacks #1 Rank stocks here.
3D System expects a slower recovery in 2024 than its earlier expectation. Dental sales are expected to benefit from the continuing migration of orthodontic solutions from metal brackets and wires to clear aligners in the long run. Improved asset management and resource utilization are anticipated to reduce its total inventory significantly in 2024.
The Zacks Consensus Estimate for 2023 loss has narrowed by 7 cents to 13 cents per share over the past 30 days. The stock has declined 38.5% in the year-to-date period.
Price and Consensus: DDD
Apple: This Zacks Rank #3 (Hold) company is benefiting from a steady demand for iPhone devices, as well as an expanding footprint in emerging markets. A growing subscriber base and improving customer engagement are tailwinds for the services business.
Apple currently has more than 1 billion paid subscribers across its Services portfolio. The App Store continues to draw the attention of prominent developers worldwide, helping it offer appealing new apps that drive the App Store’s traffic. A growing number of AI-infused apps will attract subscribers to the App Store.
The Zacks Consensus Estimate for fiscal 2024 earnings has increased by a penny to $6.56 per share over the past 30 days. The stock has gained 37.2% in the year-to-date period.
Price and Consensus: AAPL
HP: This Zacks Rank #3 company’s sustained focus on launching the latest and innovative products is likely to help it stay afloat in the current uncertain macroeconomic environment.
Product innovation and differentiations are the key drivers that have helped HPQ maintain its leading position in the PC and printer markets.
The Zacks Consensus Estimate for fiscal 2023 earnings has decreased 1.2% to $3.43 per share over the past 30 days. HP shares have gained 3.7% year to date.
Price and Consensus: HPQ
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
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
Apple Inc. (AAPL) : Free Stock Analysis Report
HP Inc. (HPQ) : Free Stock Analysis Report
3D Systems Corporation (DDD) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Demand for smart devices that offer facial recognition, retina scans or finger impressions to verify the user for biometrics is gaining traction as enterprises enhance security. 3 Computer Stocks to Watch Right Now 3D Systems: This Zacks Rank #1 (Strong Buy) company expects the dental market to stabilize amid the high inventory level in the supply chain and weakness in consumer discretionary spending. Price and Consensus: AAPL HP: This Zacks Rank #3 company’s sustained focus on launching the latest and innovative products is likely to help it stay afloat in the current uncertain macroeconomic environment.
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The Zacks Computer – Mini Computers industry is benefiting from steady demand for enterprise devices, including laptops, tablets and smartphones. Impressive Form Factor Drives Demand: Expanding screen size, better display and enhanced storage capabilities have been the key catalysts driving the rapid proliferation of smartphones and tablets. Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report HP Inc. (HPQ) : Free Stock Analysis Report 3D Systems Corporation (DDD) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Industry Description The Zacks Computer – Mini Computers industry comprises companies that offer smartphones, desktops, laptops, printers, wearables and 3-D printers. Zacks Industry Rank Indicates Bright Prospects The Zacks Computer – Mini Computers industry is housed within the broader Zacks Computer and Technology sector. Industry Lags Sector Beats S&P 500 The Zacks Computer – Mini Computers industry has underperformed the broader Zacks Computer and Technology sector but beat the S&P 500 index over the past year.
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The Zacks Computer – Mini Computers industry is benefiting from steady demand for enterprise devices, including laptops, tablets and smartphones. Industry's Current Valuation On the basis of forward 12-month P/E, which is a commonly used multiple for valuing computer stocks, we see that the industry is currently trading at 27.81X compared with the S&P 500’s 19.17X and the sector’s 24.04X. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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056c6722-f8cc-4fd7-a692-284eba38b9d5
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714587.0
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2023-12-06 00:00:00 UTC
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Airline Stock Roundup: ALK to Buy HA for $1.9B, RYAAY's Traffic Impresses
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https://www.nasdaq.com/articles/airline-stock-roundup%3A-alk-to-buy-ha-for-%241.9b-ryaays-traffic-impresses
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In the past week, the major news in the airline domain was the inking of Alaska Air Group’s ALK deal to buy Hawaiian Airlines for $18 per share in cash. The price represents a massive 270% premium to the closing price of Hawaiian Holdings HA — Hawaiian Airlines’ parent company — on Dec 1 (the last trading day before the deal was announced). The transaction is valued at $1.9 billion. This includes $900 million of Hawaiian Airlines’ debt.
Ryanair Holdings RYAAY was also in the news, courtesy of its impressive traffic numbers for November, driven by upbeat air travel demand. The antitrust trial, which was debating on JetBlue Airways’ JBLU planned acquisition of Spirit Airlines SAVE, has ended.
Read the last Airline Roundup here.
Recap of the Past Week’s Most Important Stories
1. Alaska Air’s deal to buy HA is expected to be accretive to ALK’s earnings within two years post-closure, with at least $235 million of expected run-rate synergies. In the event of the deal materializing, Alaska Air’s fleet will expand to 365 narrow and wide-body planes. The transaction has gained approval from the boards of both companies. However, the materialization of the buyout is dependent on required regulatory approvals, Hawaiian Holdings shareholders’ approval (expected to be sought in the first quarter of 2024) and other customary closing conditions. After all these steps, the deal is expected to close in 12-18 months. Even after the deal closure, both companies will maintain their respective brands.
In another development, it was announced that ALK will exit the S&P 500 index on Dec 18, 2023. The airline will move down to the S&P SmallCap 600.
2. The number of passengers ferried on Ryanair flights in November was 11.7 million, marking a 4% year-over-year rise in passengers. The load factor (percentage of seats filled by passengers) was high at 92% in November 2023. The reading was similar in the year-ago period. RYAAY operated more than 66,400 flights in November 2023. However, more than 960 flights got canceled due to the Israel/Gaza conflict.
Currently, RYAAY carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
3. The trial in which the U.S. Department of Justice urged a federal judge to block JetBlue’s intended $3.8-billion acquisition of Spirit Airlines in an effort to preserve competition among the lowest-cost carriers has been wrapped up. The federal judge may allow the merger to proceed if JetBlue divests more assets. Per a Reuters report, U.S. District Judge William Young told a JetBlue lawyer that he expected airline fares to rise if no-frills, ultra-low-cost Spirit no longer was around to "undercut everyone else" and drive down prices. The judge, who will decide the case in the non-jury trial in Boston, told both parties that he was having "trouble" with the Justice Department's request for a permanent injunction blocking a deal in a "dynamic industry facing unique opportunities and challenges in the post-COVID environment."
Price Performance
The following table shows the price movements of the major airline players over the past week and during the past six months.
Image Source: Zacks Investment Research
The table above shows that almost all airline stocks traded in the green over the past week. Consequently, the NYSE ARCA Airline Index improved 12.2% to $62.3 over the past week. Over the course of six months, the sector tracker has decreased 6.1%.
What's Next in the Airline Space?
Stay tuned for the usual news updates in the space.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
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
Ryanair Holdings PLC (RYAAY) : Free Stock Analysis Report
JetBlue Airways Corporation (JBLU) : Free Stock Analysis Report
Alaska Air Group, Inc. (ALK) : Free Stock Analysis Report
Spirit Airlines, Inc. (SAVE) : Free Stock Analysis Report
Hawaiian Holdings, Inc. (HA) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The trial in which the U.S. Department of Justice urged a federal judge to block JetBlue’s intended $3.8-billion acquisition of Spirit Airlines in an effort to preserve competition among the lowest-cost carriers has been wrapped up. Per a Reuters report, U.S. District Judge William Young told a JetBlue lawyer that he expected airline fares to rise if no-frills, ultra-low-cost Spirit no longer was around to "undercut everyone else" and drive down prices. The judge, who will decide the case in the non-jury trial in Boston, told both parties that he was having "trouble" with the Justice Department's request for a permanent injunction blocking a deal in a "dynamic industry facing unique opportunities and challenges in the post-COVID environment."
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In the past week, the major news in the airline domain was the inking of Alaska Air Group’s ALK deal to buy Hawaiian Airlines for $18 per share in cash. The price represents a massive 270% premium to the closing price of Hawaiian Holdings HA — Hawaiian Airlines’ parent company — on Dec 1 (the last trading day before the deal was announced). Click to get this free report Ryanair Holdings PLC (RYAAY) : Free Stock Analysis Report JetBlue Airways Corporation (JBLU) : Free Stock Analysis Report Alaska Air Group, Inc. (ALK) : Free Stock Analysis Report Spirit Airlines, Inc. (SAVE) : Free Stock Analysis Report Hawaiian Holdings, Inc. (HA) : Free Stock Analysis Report To read this article on Zacks.com click here.
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In the past week, the major news in the airline domain was the inking of Alaska Air Group’s ALK deal to buy Hawaiian Airlines for $18 per share in cash. The price represents a massive 270% premium to the closing price of Hawaiian Holdings HA — Hawaiian Airlines’ parent company — on Dec 1 (the last trading day before the deal was announced). Click to get this free report Ryanair Holdings PLC (RYAAY) : Free Stock Analysis Report JetBlue Airways Corporation (JBLU) : Free Stock Analysis Report Alaska Air Group, Inc. (ALK) : Free Stock Analysis Report Spirit Airlines, Inc. (SAVE) : Free Stock Analysis Report Hawaiian Holdings, Inc. (HA) : Free Stock Analysis Report To read this article on Zacks.com click here.
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In the past week, the major news in the airline domain was the inking of Alaska Air Group’s ALK deal to buy Hawaiian Airlines for $18 per share in cash. The trial in which the U.S. Department of Justice urged a federal judge to block JetBlue’s intended $3.8-billion acquisition of Spirit Airlines in an effort to preserve competition among the lowest-cost carriers has been wrapped up. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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566bc3da-dcee-440b-b955-21a4e0af750b
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714588.0
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2023-12-06 00:00:00 UTC
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4 Stocks With Impressive Interest Coverage Ratio to Snap Up
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DCOMP
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https://www.nasdaq.com/articles/4-stocks-with-impressive-interest-coverage-ratio-to-snap-up-1
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Given the current economic scenario, investors should gauge the changing market dynamics and accordingly chalk out a sturdy investment strategy. Well, you can decide to buy or sell a particular stock by looking at its sales and earnings numbers. However, such a strategy does not always warrant superior returns when the market faces a myriad of issues. A critical analysis of the company’s financial background is always required for a better investment decision.
Well, a company should be sound enough to meet its financial obligations. This can be judged with coverage ratios — the higher these are, the more efficient an enterprise will be in meeting its financial obligations. Here, we have discussed one such ratio called the interest coverage ratio.
Interest Coverage Ratio = Earnings before Interest & Taxes (EBIT) divided by Interest Expense.
Everest Group, Ltd. EG, Modine Manufacturing Company MOD, Sterling Infrastructure, Inc. STRL and The Procter & Gamble Company PG are four stocks with an impressive interest coverage ratio.
Why Interest Coverage Ratio?
The interest coverage ratio is used to determine how effectively a company can pay the interest charged on its debt.
Debt, which is crucial for most companies to finance operations, comes at a cost called interest. Interest expense has a direct bearing on a company's profits. The company’s creditworthiness depends on how effectively it meets its interest obligations. Therefore, the interest coverage ratio is one of the essential criteria to factor in before making any investment decision.
The interest coverage ratio suggests the number of times interest could be paid from earnings and also gauges the margin of safety a firm carries for paying interest.
An interest coverage ratio lower than 1.0 implies that the company is unable to fulfill its interest obligations and could default on repaying debt. A company that is capable of generating earnings well above its interest expense can withstand financial hardship. One should also track the company’s past performance to determine whether the interest coverage ratio has improved or worsened over a period of time.
What’s the Strategy?
Apart from having an interest coverage ratio that is more than the industry average, adding a favorable Zacks Rank and a VGM Score of A or B to your search criteria should lead to better results.
Interest coverage ratio greater than X-Industry Median
Price greater than or equal to 5: The stocks must all be trading at a minimum of $5 or higher.
5-Year Historical EPS Growth (%) greater than X-Industry Median: Stocks that have a strong EPS growth history.
Projected EPS Growth (%) greater than X-Industry Median: This is the projected EPS growth over the next three to five years. This shows that the stock has near-term earnings growth potential.
Average 20-Day Volume greater than 100,000: A substantial trading volume ensures that the stock is easily tradable.
Zacks Rank less than or equal to 2: Zacks Rank #1 (Strong Buy) or 2 (Buy) stocks are known to outperform irrespective of the market environment.
VGM Score of less than or equal to B: Our research shows that stocks with a VGM Score of A or B when combined with a Zacks Rank #1 or 2, offer the best upside potential.
Here are four of the 15 stocks that qualified for the screening:
Everest Group, a global underwriting leader providing best-in-class property, casualty and specialty reinsurance and insurance solutions, sports a Zacks Rank #1 and has a VGM Score of A. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Everest Group’s current financial year sales and earnings per share (EPS) suggests growth of 19.4% and 105.3%, respectively, from the year-ago period’s levels. Everest Group has a trailing four-quarter earnings surprise of 24.5%, on average. The stock has advanced 19.3% in the past year.
Modine Manufacturing, a diversified global leader in thermal management technology and solutions, carries a Zacks Rank #2 and has a VGM Score of A.
The Zacks Consensus Estimate for Modine Manufacturing’s current financial year sales and EPS suggests growth of 6.7% and 55.9%, respectively, from the year-ago period’s levels. MOD has a trailing four-quarter earnings surprise of 47%, on average. The stock has skyrocketed 155.1% in the past year.
Sterling Infrastructure, which is engaged in e-infrastructure, transportation and building solutions, carries a Zacks Rank #2 and has a VGM Score of A.
The Zacks Consensus Estimate for Sterling Infrastructure’s current financial year sales and EPS suggests growth of 4.7% and 32.6%, respectively, from the year-ago period. Sterling Infrastructure has a trailing four-quarter earnings surprise of 12.2%, on average. The stock has rallied 99.8% in the past year.
Procter & Gamble, which provides branded consumer packaged goods globally, carries a Zacks Rank #2 and has a VGM Score of B.
The Zacks Consensus Estimate for Procter & Gamble’s current financial year sales and EPS suggests growth of 4% and 8.8%, respectively, from the year-ago period’s levels. Procter & Gamble has a trailing four-quarter earnings surprise of 3.8%, on average. The stock has declined 2.3% in the past year.
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 trading. Further, you can also create your own strategies and backtest 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: https://www.zacks.com/performance.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
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
Procter & Gamble Company (The) (PG) : Free Stock Analysis Report
Sterling Infrastructure, Inc. (STRL) : Free Stock Analysis Report
Modine Manufacturing Company (MOD) : Free Stock Analysis Report
Everest Group, Ltd. (EG) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Apart from having an interest coverage ratio that is more than the industry average, adding a favorable Zacks Rank and a VGM Score of A or B to your search criteria should lead to better results. Everest Group, a global underwriting leader providing best-in-class property, casualty and specialty reinsurance and insurance solutions, sports a Zacks Rank #1 and has a VGM Score of A. The Zacks Consensus Estimate for Everest Group’s current financial year sales and earnings per share (EPS) suggests growth of 19.4% and 105.3%, respectively, from the year-ago period’s levels.
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Everest Group, Ltd. EG, Modine Manufacturing Company MOD, Sterling Infrastructure, Inc. STRL and The Procter & Gamble Company PG are four stocks with an impressive interest coverage ratio. The Zacks Consensus Estimate for Modine Manufacturing’s current financial year sales and EPS suggests growth of 6.7% and 55.9%, respectively, from the year-ago period’s levels. Click to get this free report Procter & Gamble Company (The) (PG) : Free Stock Analysis Report Sterling Infrastructure, Inc. (STRL) : Free Stock Analysis Report Modine Manufacturing Company (MOD) : Free Stock Analysis Report Everest Group, Ltd. (EG) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Everest Group, Ltd. EG, Modine Manufacturing Company MOD, Sterling Infrastructure, Inc. STRL and The Procter & Gamble Company PG are four stocks with an impressive interest coverage ratio. The interest coverage ratio suggests the number of times interest could be paid from earnings and also gauges the margin of safety a firm carries for paying interest. Click to get this free report Procter & Gamble Company (The) (PG) : Free Stock Analysis Report Sterling Infrastructure, Inc. (STRL) : Free Stock Analysis Report Modine Manufacturing Company (MOD) : Free Stock Analysis Report Everest Group, Ltd. (EG) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Everest Group, Ltd. EG, Modine Manufacturing Company MOD, Sterling Infrastructure, Inc. STRL and The Procter & Gamble Company PG are four stocks with an impressive interest coverage ratio. One should also track the company’s past performance to determine whether the interest coverage ratio has improved or worsened over a period of time. 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 trading.
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3d486dfb-6149-4290-ae26-4eb4183aaad8
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714589.0
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2023-12-06 00:00:00 UTC
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KeyCorp (KEY) Lowers Q4 Fee Income Guidance, Stock Dips 3.7%
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DCOMP
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https://www.nasdaq.com/articles/keycorp-key-lowers-q4-fee-income-guidance-stock-dips-3.7
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Shares of KeyCorp KEY lost 3.7% after the company updated its fourth-quarter 2023 outlook for fee income. Per a presentation at the Goldman Sachs 2023 U.S. Financial Services Conference, KEY expects its fourth-quarter non-interest income to decline 5-8% from the prior quarter’s reported figure.
Previously, the bank expected non-interest income to increase 1-3%.
While KEY changed its fourth-quarter outlook for non-interest income, the guidance for net interest income (NII) remains unchanged.
KEY expects fourth-quarter NII to be relatively stable sequentially.
Likewise, deposits are expected to be stable than the previous quarter. Loans are projected to decline 1-3% sequentially.
For 2023, management expects the average loan balance to be up 6-9% year over year, whereas average deposits are expected to be flat or down 2%.
NII (tax-equivalent) is anticipated to decline 12-14% on a year-over-year basis in 2023 and non-interest income is expected to fall 7-9%.
Notably, KeyCorp’s business restructuring efforts have been impressive so far. In 2022, the company acquired GradFin, which strengthened its digital offering capabilities. In 2021, it acquired a B2B-focused digital platform, XUP Payments and a data analytics-driven consultancy firm, AQN Strategies LLC.
In 2019, KEY acquired Laurel Road Bank’s digital lending operation and further expanded its operation with the launch of Laurel Road for Doctors. These, along with several past buyouts/expansion initiatives, are expected to strengthen the bank’s product suites and market share.
Also, as the demand for digital banking services continues to rise, the company has been consolidating its branch network, with management looking for opportunities to right-size its footprint. Driven by such initiatives, KEY’s fee income is expected to improve in the long term, thus supporting top-line growth.
So far this year, shares of KeyCorp have lost 25.7% against the industry’s growth of 2.5%.
Image Source: Zacks Investment Research
Currently, KEY carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Competitive Landscape
At the conference, banks like JPMorgan JPM and Truist Financial Corporation TFC affirmed their previously stated guidance.
JPM expects the 2023 NII to be $88.5 billion, driven by higher rates and slower-than-expected deposit repricing across both consumers and wholesale.
Further, the company believes that the current NII run rate will slow down substantially as competition for deposits increases. Over the medium term, annual NII is anticipated to be near $80 billion.
Moreover, JPM projects adjusted expenses of $84 billion in 2023.
JPM also provided an outlook for trading and investment banking (IB) at the conference. The bank said that it expects its markets revenues in the fourth quarter of 2023 to be flattish year over year. IB fees are expected to record healthy year-over-year growth.
TFC expects tax-equivalent revenues in the fourth quarter of 2023 to be flat or decline 1% sequentially. The NII is likely to remain under some pressure due to the smaller balance sheet and modest margin compression.
Sequential improvement in non-interest income is expected in the quarter.
For 2023, TFC expects adjusted tax-equivalent revenues to increase 1.5% year over year.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
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
JPMorgan Chase & Co. (JPM) : Free Stock Analysis Report
KeyCorp (KEY) : Free Stock Analysis Report
Truist Financial Corporation (TFC) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Per a presentation at the Goldman Sachs 2023 U.S. Financial Services Conference, KEY expects its fourth-quarter non-interest income to decline 5-8% from the prior quarter’s reported figure. Also, as the demand for digital banking services continues to rise, the company has been consolidating its branch network, with management looking for opportunities to right-size its footprint. Competitive Landscape At the conference, banks like JPMorgan JPM and Truist Financial Corporation TFC affirmed their previously stated guidance.
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Per a presentation at the Goldman Sachs 2023 U.S. Financial Services Conference, KEY expects its fourth-quarter non-interest income to decline 5-8% from the prior quarter’s reported figure. For 2023, TFC expects adjusted tax-equivalent revenues to increase 1.5% year over year. Click to get this free report JPMorgan Chase & Co. (JPM) : Free Stock Analysis Report KeyCorp (KEY) : Free Stock Analysis Report Truist Financial Corporation (TFC) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Per a presentation at the Goldman Sachs 2023 U.S. Financial Services Conference, KEY expects its fourth-quarter non-interest income to decline 5-8% from the prior quarter’s reported figure. For 2023, management expects the average loan balance to be up 6-9% year over year, whereas average deposits are expected to be flat or down 2%. Click to get this free report JPMorgan Chase & Co. (JPM) : Free Stock Analysis Report KeyCorp (KEY) : Free Stock Analysis Report Truist Financial Corporation (TFC) : Free Stock Analysis Report To read this article on Zacks.com click here.
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In 2022, the company acquired GradFin, which strengthened its digital offering capabilities. So far this year, shares of KeyCorp have lost 25.7% against the industry’s growth of 2.5%. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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994be7fa-fc58-4eed-a7fa-b524dd407e60
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714590.0
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2023-12-06 00:00:00 UTC
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Vanguard S&P 500 ETF Experiences Big Inflow
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DCOMP
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https://www.nasdaq.com/articles/vanguard-sp-500-etf-experiences-big-inflow-1
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nan
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nan
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Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the Vanguard S&P 500 ETF (Symbol: VOO) where we have detected an approximate $6.7 billion dollar inflow -- that's a 1.9% increase week over week in outstanding units (from 830,721,213 to 846,779,130). Among the largest underlying components of VOO, in trading today Visa Inc (Symbol: V) is up about 0.2%, Chevron Corporation (Symbol: CVX) is off about 0.4%, and Linde PLC (Symbol: LIN) is lower by about 1.1%. For a complete list of holdings, visit the VOO Holdings page » The chart below shows the one year price performance of VOO, versus its 200 day moving average:
Looking at the chart above, VOO's low point in its 52 week range is $344.34 per share, with $422.37 as the 52 week high point — that compares with a last trade of $420.06. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ».
Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Click here to find out which 9 other ETFs had notable inflows »
Also see:
MLPs Hedge Funds Are Buying
CP Average Annual Return
ES Options Chain
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs. Click here to find out which 9 other ETFs had notable inflows » Also see: MLPs Hedge Funds Are Buying CP Average Annual Return ES Options Chain The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Among the largest underlying components of VOO, in trading today Visa Inc (Symbol: V) is up about 0.2%, Chevron Corporation (Symbol: CVX) is off about 0.4%, and Linde PLC (Symbol: LIN) is lower by about 1.1%. For a complete list of holdings, visit the VOO Holdings page » The chart below shows the one year price performance of VOO, versus its 200 day moving average: Looking at the chart above, VOO's low point in its 52 week range is $344.34 per share, with $422.37 as the 52 week high point — that compares with a last trade of $420.06. Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''.
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Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the Vanguard S&P 500 ETF (Symbol: VOO) where we have detected an approximate $6.7 billion dollar inflow -- that's a 1.9% increase week over week in outstanding units (from 830,721,213 to 846,779,130). For a complete list of holdings, visit the VOO Holdings page » The chart below shows the one year price performance of VOO, versus its 200 day moving average: Looking at the chart above, VOO's low point in its 52 week range is $344.34 per share, with $422.37 as the 52 week high point — that compares with a last trade of $420.06. Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
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For a complete list of holdings, visit the VOO Holdings page » The chart below shows the one year price performance of VOO, versus its 200 day moving average: Looking at the chart above, VOO's low point in its 52 week range is $344.34 per share, with $422.37 as the 52 week high point — that compares with a last trade of $420.06. Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
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a160295e-708e-4c9a-8996-825907766da8
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714591.0
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2023-12-06 00:00:00 UTC
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Notable ETF Inflow Detected - VTI, COP, IBM, UNP
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DCOMP
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https://www.nasdaq.com/articles/notable-etf-inflow-detected-vti-cop-ibm-unp
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nan
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nan
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Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the Vanguard Total Stock Market ETF (Symbol: VTI) where we have detected an approximate $3.7 billion dollar inflow -- that's a 1.1% increase week over week in outstanding units (from 1,439,968,027 to 1,456,392,166). Among the largest underlying components of VTI, in trading today ConocoPhillips (Symbol: COP) is down about 1.5%, International Business Machines Corp (Symbol: IBM) is down about 0.2%, and Union Pacific Corp (Symbol: UNP) is higher by about 0.3%. For a complete list of holdings, visit the VTI Holdings page » The chart below shows the one year price performance of VTI, versus its 200 day moving average:
Looking at the chart above, VTI's low point in its 52 week range is $187.38 per share, with $228.965 as the 52 week high point — that compares with a last trade of $227.43. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ».
Free Report: Top 8%+ Dividends (paid monthly)
Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Click here to find out which 9 other ETFs had notable inflows »
Also see:
OGIG Videos
RIVR Videos
CNEY market cap history
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs. Click here to find out which 9 other ETFs had notable inflows » Also see: OGIG Videos RIVR Videos CNEY market cap history The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the Vanguard Total Stock Market ETF (Symbol: VTI) where we have detected an approximate $3.7 billion dollar inflow -- that's a 1.1% increase week over week in outstanding units (from 1,439,968,027 to 1,456,392,166). Among the largest underlying components of VTI, in trading today ConocoPhillips (Symbol: COP) is down about 1.5%, International Business Machines Corp (Symbol: IBM) is down about 0.2%, and Union Pacific Corp (Symbol: UNP) is higher by about 0.3%. For a complete list of holdings, visit the VTI Holdings page » The chart below shows the one year price performance of VTI, versus its 200 day moving average: Looking at the chart above, VTI's low point in its 52 week range is $187.38 per share, with $228.965 as the 52 week high point — that compares with a last trade of $227.43.
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Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the Vanguard Total Stock Market ETF (Symbol: VTI) where we have detected an approximate $3.7 billion dollar inflow -- that's a 1.1% increase week over week in outstanding units (from 1,439,968,027 to 1,456,392,166). For a complete list of holdings, visit the VTI Holdings page » The chart below shows the one year price performance of VTI, versus its 200 day moving average: Looking at the chart above, VTI's low point in its 52 week range is $187.38 per share, with $228.965 as the 52 week high point — that compares with a last trade of $227.43. Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
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Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the Vanguard Total Stock Market ETF (Symbol: VTI) where we have detected an approximate $3.7 billion dollar inflow -- that's a 1.1% increase week over week in outstanding units (from 1,439,968,027 to 1,456,392,166). For a complete list of holdings, visit the VTI Holdings page » The chart below shows the one year price performance of VTI, versus its 200 day moving average: Looking at the chart above, VTI's low point in its 52 week range is $187.38 per share, with $228.965 as the 52 week high point — that compares with a last trade of $227.43. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand.
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c4f3fed7-cab1-42f1-b69c-e5e2445e5691
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714592.0
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2023-12-06 00:00:00 UTC
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Designer Brands (DBI) Q3 Earnings Lag Estimates, Comps Dip Y/Y
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DCOMP
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https://www.nasdaq.com/articles/designer-brands-dbi-q3-earnings-lag-estimates-comps-dip-y-y
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nan
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nan
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Designer Brands Inc. DBI released third-quarter fiscal 2023 results, wherein the top and bottom lines missed the Zacks Consensus Estimate. Also, both metrics declined year over year.
Designer Brands recently faced challenges due to a contracting footwear market, the first such decline since the pandemic, combined with unseasonably warm weather. This situation led to a significant reduction in customer demand for shoes, impacting the company's seasonal assortments.
Nonetheless, the company registered decent performances in casual and clearance categories. However, these improvements failed to mitigate the impacts of a broader decrease in demand. The company is actively working to overcome these challenges. It is refreshing product assortment with new specialty sizes and undertaking new marketing strategies.
Designer Brands Inc. Price, Consensus and EPS Surprise
Designer Brands Inc. price-consensus-eps-surprise-chart | Designer Brands Inc. Quote
Let’s Delve Deeper
Designer Brands reported fiscal third-quarter adjusted earnings of 24 cents per share, which missed the Zacks Consensus Estimate of 44 cents. The reported number declined sharply from earnings of 67 cents a share in the year-ago period.
Net sales were $786.3 million, down 9.1% year over year. The top line missed the Zacks Consensus Estimate of $822 million. Also, comparable sales (comps) decreased 9.3% year over year in the fiscal third quarter against an increase of 3% in the year-ago period. The Zacks Consensus Estimate for the metric was a decline of 4.4%.
Gross profit amounted to $256.4 million, down 10.3% from the $285.8 million reported in the year-ago quarter. The gross margin contracted 40 bps to 32.6% from the prior-year period.
Adjusted operating expenses increased 2.9% to $227.5 million. As a percentage of net revenues, adjusted operating expenses increased 340 bps to 28.9% in the third quarter of fiscal 2023.
Adjusted operating profit decreased 53.2% to $31.4 million. As a percentage of net revenues, adjusted operating profit decreased 380 bps to 4% in the third quarter of fiscal 2023.
Image Source: Zacks Investment Research
Segmental Details
U.S. Retail: Sales of $631.6 million decreased 10.6% year over year. The figure missed the Zacks Consensus Estimate of $668 million.
Canada Retail: This segment’s sales of $75.6 million declined 8.1% year over year. The figure missed the Zacks Consensus Estimate of $82 million.
Brand Portfolio: Sales of $94.1 million decreased 12.5% year over year. The figure lagged the Zacks Consensus Estimate of $118 million.
Other Financial Details
This Zacks Rank #4 (Sell) company ended the quarter with a debt of $375.5 million, and cash and cash equivalents of $54.6 million, with $213.3 million available for borrowings under its senior secured asset-based revolving credit facility and $85 million available for borrowings under its new senior secured term-loan credit agreement. Total stockholders' equity was $387.6 million at the end of the quarter under review.
Store Update
In the fiscal third quarter, the company opened one store in the United States and six stores in Canada, resulting in 499 U.S. stores and 144 Canada stores as of Oct 28, 2023.
FY23 Guidance
For fiscal 2023, Designer Brands anticipates net sales (excluding Keds) to be down in the high-single digits. Incremental net sales from the acquisition of Keds are expected to be $60-$70 million.
The company’s earnings per share, excluding Keds, are envisioned to be 40-70 cents per share.
Shares of this company have risen 26.1% in the past six months compared with the industry's growth of 17.6%.
Stocks to Consider
A few better-ranked stocks are Abercrombie & Fitch Co. ANF, Deckers Outdoor Corporation DECK and Skechers U.S.A., Inc. SKX.
Abercrombie & Fitch operates as a specialty retailer of premium, high-quality casual apparel. It currently sports a Zacks Rank #1 (Strong Buy). The company reported an EPS surprise of 60.5% in the last reported quarter. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Abercrombie & Fitch’s current fiscal-year sales suggests growth of 12.8% from the year-ago reported numbers. ANF has a trailing four-quarter earnings surprise of 713%, on average.
Deckers is a leading designer, producer and brand manager of innovative, niche footwear and accessories developed for outdoor sports and other lifestyle-related activities. It has a Zacks Rank #2 (Buy) at present.
The Zacks Consensus Estimate for Deckers’s current fiscal-year sales and earnings suggests growth of 11.4% and 20.9%, respectively, from the year-ago reported numbers. DECK has a trailing four-quarter earnings surprise of 26.3%, on average.
Skechers U.S.A. designs, develops, markets and distributes footwear. It currently has a Zacks Rank #2.
The Zacks Consensus Estimate for Skechers’ current financial-year earnings and sales indicates growth of 44.5% and 8.2%, respectively, from the previous year’s reported numbers. SKX has a trailing four-quarter average earnings surprise of 50.3%.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
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
Abercrombie & Fitch Company (ANF) : Free Stock Analysis Report
Skechers U.S.A., Inc. (SKX) : Free Stock Analysis Report
Deckers Outdoor Corporation (DECK) : Free Stock Analysis Report
Designer Brands Inc. (DBI) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Designer Brands Inc. DBI released third-quarter fiscal 2023 results, wherein the top and bottom lines missed the Zacks Consensus Estimate. Designer Brands recently faced challenges due to a contracting footwear market, the first such decline since the pandemic, combined with unseasonably warm weather. Deckers is a leading designer, producer and brand manager of innovative, niche footwear and accessories developed for outdoor sports and other lifestyle-related activities.
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Designer Brands Inc. Price, Consensus and EPS Surprise Designer Brands Inc. price-consensus-eps-surprise-chart | Designer Brands Inc. Quote Let’s Delve Deeper Designer Brands reported fiscal third-quarter adjusted earnings of 24 cents per share, which missed the Zacks Consensus Estimate of 44 cents. The Zacks Consensus Estimate for Abercrombie & Fitch’s current fiscal-year sales suggests growth of 12.8% from the year-ago reported numbers. Click to get this free report Abercrombie & Fitch Company (ANF) : Free Stock Analysis Report Skechers U.S.A., Inc. (SKX) : Free Stock Analysis Report Deckers Outdoor Corporation (DECK) : Free Stock Analysis Report Designer Brands Inc. (DBI) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Designer Brands Inc. Price, Consensus and EPS Surprise Designer Brands Inc. price-consensus-eps-surprise-chart | Designer Brands Inc. Quote Let’s Delve Deeper Designer Brands reported fiscal third-quarter adjusted earnings of 24 cents per share, which missed the Zacks Consensus Estimate of 44 cents. Other Financial Details This Zacks Rank #4 (Sell) company ended the quarter with a debt of $375.5 million, and cash and cash equivalents of $54.6 million, with $213.3 million available for borrowings under its senior secured asset-based revolving credit facility and $85 million available for borrowings under its new senior secured term-loan credit agreement. Click to get this free report Abercrombie & Fitch Company (ANF) : Free Stock Analysis Report Skechers U.S.A., Inc. (SKX) : Free Stock Analysis Report Deckers Outdoor Corporation (DECK) : Free Stock Analysis Report Designer Brands Inc. (DBI) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Designer Brands Inc. Price, Consensus and EPS Surprise Designer Brands Inc. price-consensus-eps-surprise-chart | Designer Brands Inc. Quote Let’s Delve Deeper Designer Brands reported fiscal third-quarter adjusted earnings of 24 cents per share, which missed the Zacks Consensus Estimate of 44 cents. Also, comparable sales (comps) decreased 9.3% year over year in the fiscal third quarter against an increase of 3% in the year-ago period. The Zacks Consensus Estimate for Skechers’ current financial-year earnings and sales indicates growth of 44.5% and 8.2%, respectively, from the previous year’s reported numbers.
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c057ea10-1093-4db1-afaf-62336f5d7633
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714593.0
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2023-12-06 00:00:00 UTC
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BP Drills Oil Well at New Azeri-Chirag-Gunashli Platform
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DCOMP
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https://www.nasdaq.com/articles/bp-drills-oil-well-at-new-azeri-chirag-gunashli-platform
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nan
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BP plc BP initiated the drilling of the first oil production well from the newly established Azeri Central East (“ACE”) platform, located in the Azeri sector of the Caspian Sea.
The ACE project, with a budget of $6 billion, represents the next expansion phase of the extensive Azeri-Chirag-Gunashli (“ACG”) field in the Caspian Sea. The well is anticipated to reach up to 3,188 meters, with the drilling process expected to span three months.
ACE constitutes a platform featuring 48 slots dedicated to production, drilling and quarters. Positioned midway between the pre-existing Central Azeri and East Azeri platforms, it is situated in the Caspian Sea at a water depth of 137 meters.
As part of the project, newly installed infield pipelines have been incorporated to transfer oil and gas from the ACE platform. The pipelines connect to the established ACG Phase 2 oil and gas export pipelines, optimizing the transportation process and directing resources toward the onshore Sangachal terminal.
Furthermore, a water injection pipeline has been established connecting the East Azeri and ACE platforms, ensuring a supply of injection water from the Central Azeri compression and water injection platform to the ACE facilities.
The ACE platform, along with its associated facilities, is designed to handle a processing capacity of up to 100,000 barrels of oil per day. Over its operational lifespan, the project is anticipated to yield a production of up to 300 million barrels.
The milestone follows the successful and secure completion of all offshore hook-up, installation and commissioning activities associated with the ACE topsides unit. The topsides unit had been transported from the Bayil fabrication yard in August 2023.
Sanctioned in April 2019, the ACE project marked a milestone as the initial major investment decision undertaken by the ACG partnership. This decision closely followed the extension of the ACG Production Sharing Agreement (PSA) to 2049, a consensus reached in 2017. The latest achievement allows BP to meet its first oil production target for ACE and deliver it in early 2024.
Zacks Rank & Stocks to Consider
BP currently carries a Zack Rank #3 (Hold).
Investors interested in the energy sector might look at the following companies that presently carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
EOG Resources EOG boasts an appealing growth profile, delivers upper-quartile returns and is guided by a disciplined management team.
EOG Resources has a strong focus on returning capital to shareholders. From 1999 through 2024, the company is committed to raising its regular dividend at a compound annual growth rate of 21%. EOG has never suspended or lowered its dividend, even during business turmoil, reflecting solid underlying business.
Liberty Energy LBRT offers hydraulic fracturing services to onshore upstream energy companies across multiple basins in North America.
Liberty’s board of directors announced a cash dividend of seven cents per common share, payable Dec 20, 2023, to stockholders of record as of Dec 6, 2023. This dividend reflects a 40% rise from the previous quarter’s level. As part of its shareholder return policy, LBRT repurchased shares worth $29 million at an average price of $16.38 per share.
PBF Energy Inc. PBF has one of the most complex refining systems in the United States, boasting a high Nelson Complexity Index of 12.7.
Compared with composite stocks belonging to the industry, the leading upstream energy company’s debt-to-capitalization ratio has been consistently lower over the past few years. The company boasts a robust liquidity position, with a cash balance of $1.9 billion, which is more than sufficient to cover its long-term debt of $1.2 billion. This underscores the company’s strong financial liquidity.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
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
BP p.l.c. (BP) : Free Stock Analysis Report
EOG Resources, Inc. (EOG) : Free Stock Analysis Report
PBF Energy Inc. (PBF) : Free Stock Analysis Report
Liberty Energy Inc. (LBRT) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The ACE project, with a budget of $6 billion, represents the next expansion phase of the extensive Azeri-Chirag-Gunashli (“ACG”) field in the Caspian Sea. Sanctioned in April 2019, the ACE project marked a milestone as the initial major investment decision undertaken by the ACG partnership. Compared with composite stocks belonging to the industry, the leading upstream energy company’s debt-to-capitalization ratio has been consistently lower over the past few years.
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BP plc BP initiated the drilling of the first oil production well from the newly established Azeri Central East (“ACE”) platform, located in the Azeri sector of the Caspian Sea. The pipelines connect to the established ACG Phase 2 oil and gas export pipelines, optimizing the transportation process and directing resources toward the onshore Sangachal terminal. (BP) : Free Stock Analysis Report EOG Resources, Inc. (EOG) : Free Stock Analysis Report PBF Energy Inc. (PBF) : Free Stock Analysis Report Liberty Energy Inc. (LBRT) : Free Stock Analysis Report To read this article on Zacks.com click here.
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BP plc BP initiated the drilling of the first oil production well from the newly established Azeri Central East (“ACE”) platform, located in the Azeri sector of the Caspian Sea. Furthermore, a water injection pipeline has been established connecting the East Azeri and ACE platforms, ensuring a supply of injection water from the Central Azeri compression and water injection platform to the ACE facilities. (BP) : Free Stock Analysis Report EOG Resources, Inc. (EOG) : Free Stock Analysis Report PBF Energy Inc. (PBF) : Free Stock Analysis Report Liberty Energy Inc. (LBRT) : Free Stock Analysis Report To read this article on Zacks.com click here.
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BP plc BP initiated the drilling of the first oil production well from the newly established Azeri Central East (“ACE”) platform, located in the Azeri sector of the Caspian Sea. The ACE project, with a budget of $6 billion, represents the next expansion phase of the extensive Azeri-Chirag-Gunashli (“ACG”) field in the Caspian Sea. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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b3cdf1f6-4364-41b0-97d6-bfae853a3aa2
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714594.0
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2023-12-06 00:00:00 UTC
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Up Nearly 60% in November, Should Investors Buy the VinFast Stock Hype?
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DCOMP
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https://www.nasdaq.com/articles/up-nearly-60-in-november-should-investors-buy-the-vinfast-stock-hype
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nan
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nan
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Fresh on the scene, recently overlooked and unheard-of electric vehicle (EV) maker VinFast Auto (NASDAQ: VFS), a Vietnamese automaker, has been getting much more publicity after its debut in U.S. markets and additional coverage from analysts.
With the stock up nearly 60% in November, is it time for investors to embrace the foreign automaker?
What's going on with VinFast?
One of the biggest positives for VinFast in November came in a vote of confidence from a Wall Street analyst. More specifically, Wedbush analyst Dan Ives launched coverage of the Vietnamese EV maker with a buy rating and a $12 price target -- representing a nearly 70% upside from its current price.
The vote of confidence may be a bigger deal than many investors realize. VinFast is trying to get its foot in the door of an emerging EV market in the U.S., and it's doing so with hardly any name or brand recognition. Even long-standing global manufacturers with huge names such as Ford Motor Company and General Motors don't expect to turn a profit on EVs for another year or two until sales volume rises and costs decline.
Ives' vote of confidence comes from seeing operations in Vietnam. "We have seen the impressive VinFast operations in Vietnam firsthand and came away extremely impressed with its EV footprint," stated Ives in a research note. "VinFast EV vehicles are the result of years of R&D, massive engineering resources, complex supply chain relationships, and are now set for prime time."
It's true that VinFast is a bit unique in that it operates a state-of-the-art plant in Haiphong, which according to management boasts up to 90% manufacturing automation and annual production capacity of up to 300,000 units. Further, VinFast is part of the larger Vingroup, a conglomerate with its hands in everything from real estate to retail, and the group has provided substantial financial support to VinFast -- to the tune of roughly $9.3 billion since 2017.
The vote of confidence comes at a good time for the foreign automaker. VinFast has ambitious plans to enter 50 new target markets by the end of 2024, and it's using a cash infusion from Vingroup founder and chairman Pham Nhat Vuong of $1.25 billion to tackle its strategy.
In fact, in November VinFast detailed its plans for a U.S. dealer network that anticipates 125 sales points in the first phase and hundreds more by the end of 2024 -- all offering multiple models. This is a switch from its prior direct sales model.
While VinFast's ambitious market entry strategy appears daunting, the company does have a slight advantage when it comes to labor. In fact, as recently as 2022, the cost of labor in China was nearly three times higher than in Vietnam, and Detroit automakers themselves just went through a costly union autoworker negotiation that will add large pay raises into the cost of vehicles. The cheaper labor could enable the company to slash prices to the point its vehicles offer an intriguing substitute for more well-known brands.
So is VinFast a buy?
The vote of confidence in VinFast from Wall Street is worth noting, and it's a large reason the stock jumped in November. However, VinFast still has many obstacles and hurdles to navigate as it enters a slew of new markets with a relatively unknown brand. Investors should consider its closest comparable automaker before getting too hyped on its potential.
Further, VinFast has completely discontinued manufacturing internal combustion engines, which might cause some dealers -- especially those in regions with slower-selling EV rates -- hesitation to take on the brand.
Savvy investors would be wise to realize the risk associated with such daunting strategies in a capital-intensive and highly competitive automotive market. While VinFast has the potential to grow faster than EV rivals that still only sell directly to consumers, investors might want to watch this young automaker prove itself throughout 2024 before diving into VinFast with investment capital.
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Daniel Miller has positions in Ford Motor Company and General Motors. The Motley Fool recommends General Motors and recommends the following options: long January 2025 $25 calls on General Motors. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Fresh on the scene, recently overlooked and unheard-of electric vehicle (EV) maker VinFast Auto (NASDAQ: VFS), a Vietnamese automaker, has been getting much more publicity after its debut in U.S. markets and additional coverage from analysts. It's true that VinFast is a bit unique in that it operates a state-of-the-art plant in Haiphong, which according to management boasts up to 90% manufacturing automation and annual production capacity of up to 300,000 units. VinFast has ambitious plans to enter 50 new target markets by the end of 2024, and it's using a cash infusion from Vingroup founder and chairman Pham Nhat Vuong of $1.25 billion to tackle its strategy.
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Fresh on the scene, recently overlooked and unheard-of electric vehicle (EV) maker VinFast Auto (NASDAQ: VFS), a Vietnamese automaker, has been getting much more publicity after its debut in U.S. markets and additional coverage from analysts. More specifically, Wedbush analyst Dan Ives launched coverage of the Vietnamese EV maker with a buy rating and a $12 price target -- representing a nearly 70% upside from its current price. The Motley Fool recommends General Motors and recommends the following options: long January 2025 $25 calls on General Motors.
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Fresh on the scene, recently overlooked and unheard-of electric vehicle (EV) maker VinFast Auto (NASDAQ: VFS), a Vietnamese automaker, has been getting much more publicity after its debut in U.S. markets and additional coverage from analysts. The vote of confidence in VinFast from Wall Street is worth noting, and it's a large reason the stock jumped in November. While VinFast has the potential to grow faster than EV rivals that still only sell directly to consumers, investors might want to watch this young automaker prove itself throughout 2024 before diving into VinFast with investment capital.
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VinFast has ambitious plans to enter 50 new target markets by the end of 2024, and it's using a cash infusion from Vingroup founder and chairman Pham Nhat Vuong of $1.25 billion to tackle its strategy. 10 stocks we like better than VinFast Auto Ltd. That's right -- they think these 10 stocks are even better buys.
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38b67356-42dc-4227-9d08-3604452207d2
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714595.0
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2023-12-06 00:00:00 UTC
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Noteworthy ETF Outflows: XLI, GE, HON, CAT
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DCOMP
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https://www.nasdaq.com/articles/noteworthy-etf-outflows%3A-xli-ge-hon-cat
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nan
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nan
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Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the The Industrial Select Sector SPDR Fund (Symbol: XLI) where we have detected an approximate $367.3 million dollar outflow -- that's a 2.5% decrease week over week (from 138,630,000 to 135,230,000). Among the largest underlying components of XLI, in trading today General Electric Co (Symbol: GE) is up about 0.7%, Honeywell International Inc (Symbol: HON) is up about 0.7%, and Caterpillar Inc. (Symbol: CAT) is higher by about 1.8%. For a complete list of holdings, visit the XLI Holdings page » The chart below shows the one year price performance of XLI, versus its 200 day moving average:
Looking at the chart above, XLI's low point in its 52 week range is $95.19 per share, with $111.12 as the 52 week high point — that compares with a last trade of $108.89. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ».
Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Click here to find out which 9 other ETFs experienced notable outflows »
Also see:
Stock Split History
Institutional Holders of BLPH
Top 10 Hedge Funds Holding Invesco
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the The Industrial Select Sector SPDR Fund (Symbol: XLI) where we have detected an approximate $367.3 million dollar outflow -- that's a 2.5% decrease week over week (from 138,630,000 to 135,230,000). These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Click here to find out which 9 other ETFs experienced notable outflows » Also see: Stock Split History Institutional Holders of BLPH Top 10 Hedge Funds Holding Invesco The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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For a complete list of holdings, visit the XLI Holdings page » The chart below shows the one year price performance of XLI, versus its 200 day moving average: Looking at the chart above, XLI's low point in its 52 week range is $95.19 per share, with $111.12 as the 52 week high point — that compares with a last trade of $108.89. Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed).
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Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the The Industrial Select Sector SPDR Fund (Symbol: XLI) where we have detected an approximate $367.3 million dollar outflow -- that's a 2.5% decrease week over week (from 138,630,000 to 135,230,000). For a complete list of holdings, visit the XLI Holdings page » The chart below shows the one year price performance of XLI, versus its 200 day moving average: Looking at the chart above, XLI's low point in its 52 week range is $95.19 per share, with $111.12 as the 52 week high point — that compares with a last trade of $108.89. Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
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Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the The Industrial Select Sector SPDR Fund (Symbol: XLI) where we have detected an approximate $367.3 million dollar outflow -- that's a 2.5% decrease week over week (from 138,630,000 to 135,230,000). Among the largest underlying components of XLI, in trading today General Electric Co (Symbol: GE) is up about 0.7%, Honeywell International Inc (Symbol: HON) is up about 0.7%, and Caterpillar Inc. (Symbol: CAT) is higher by about 1.8%. For a complete list of holdings, visit the XLI Holdings page » The chart below shows the one year price performance of XLI, versus its 200 day moving average: Looking at the chart above, XLI's low point in its 52 week range is $95.19 per share, with $111.12 as the 52 week high point — that compares with a last trade of $108.89.
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e959346c-7c3c-47d7-aac4-6c27abac5478
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714596.0
|
2023-12-06 00:00:00 UTC
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Vanguard High Dividend Yield ETF Experiences Big Outflow
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DCOMP
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https://www.nasdaq.com/articles/vanguard-high-dividend-yield-etf-experiences-big-outflow-0
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nan
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nan
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Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the Vanguard High Dividend Yield ETF (Symbol: VYM) where we have detected an approximate $111.5 million dollar outflow -- that's a 0.2% decrease week over week (from 457,782,760 to 456,743,262). Among the largest underlying components of VYM, in trading today RTX Corp (Symbol: RTX) is up about 0.6%, United Parcel Service Inc (Symbol: UPS) is up about 0.4%, and Mondelez International Inc (Symbol: MDLZ) is up by about 0.2%. For a complete list of holdings, visit the VYM Holdings page » The chart below shows the one year price performance of VYM, versus its 200 day moving average:
Looking at the chart above, VYM's low point in its 52 week range is $98.4009 per share, with $113.29 as the 52 week high point — that compares with a last trade of $107.62. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ».
Free Report: Top 8%+ Dividends (paid monthly)
Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Click here to find out which 9 other ETFs experienced notable outflows »
Also see:
Equity Residential 13F Filers
JWS Historical Stock Prices
DNI shares outstanding history
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs. Click here to find out which 9 other ETFs experienced notable outflows » Also see: Equity Residential 13F Filers JWS Historical Stock Prices DNI shares outstanding history The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Among the largest underlying components of VYM, in trading today RTX Corp (Symbol: RTX) is up about 0.6%, United Parcel Service Inc (Symbol: UPS) is up about 0.4%, and Mondelez International Inc (Symbol: MDLZ) is up by about 0.2%. For a complete list of holdings, visit the VYM Holdings page » The chart below shows the one year price performance of VYM, versus its 200 day moving average: Looking at the chart above, VYM's low point in its 52 week range is $98.4009 per share, with $113.29 as the 52 week high point — that compares with a last trade of $107.62. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed).
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Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the Vanguard High Dividend Yield ETF (Symbol: VYM) where we have detected an approximate $111.5 million dollar outflow -- that's a 0.2% decrease week over week (from 457,782,760 to 456,743,262). For a complete list of holdings, visit the VYM Holdings page » The chart below shows the one year price performance of VYM, versus its 200 day moving average: Looking at the chart above, VYM's low point in its 52 week range is $98.4009 per share, with $113.29 as the 52 week high point — that compares with a last trade of $107.62. Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
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Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the Vanguard High Dividend Yield ETF (Symbol: VYM) where we have detected an approximate $111.5 million dollar outflow -- that's a 0.2% decrease week over week (from 457,782,760 to 456,743,262). For a complete list of holdings, visit the VYM Holdings page » The chart below shows the one year price performance of VYM, versus its 200 day moving average: Looking at the chart above, VYM's low point in its 52 week range is $98.4009 per share, with $113.29 as the 52 week high point — that compares with a last trade of $107.62. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed).
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35bb25d3-240b-4505-8267-a0627662dac4
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714597.0
|
2023-12-06 00:00:00 UTC
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ARKK, COIN, ROKU, PATH: Large Outflows Detected at ETF
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DCOMP
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https://www.nasdaq.com/articles/arkk-coin-roku-path%3A-large-outflows-detected-at-etf
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nan
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nan
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Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the ARK Innovation ETF (Symbol: ARKK) where we have detected an approximate $154.4 million dollar outflow -- that's a 1.8% decrease week over week (from 176,600,000 to 173,400,000). Among the largest underlying components of ARKK, in trading today Coinbase Global Inc (Symbol: COIN) is off about 0.8%, Roku Inc (Symbol: ROKU) is down about 1.4%, and UiPath Inc (Symbol: PATH) is lower by about 2.7%. For a complete list of holdings, visit the ARKK Holdings page » The chart below shows the one year price performance of ARKK, versus its 200 day moving average:
Looking at the chart above, ARKK's low point in its 52 week range is $29.43 per share, with $51.33 as the 52 week high point — that compares with a last trade of $48.58. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ».
Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Click here to find out which 9 other ETFs experienced notable outflows »
Also see:
HLT Historical Stock Prices
PMI Historical Stock Prices
Funds Holding PROC
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs. Click here to find out which 9 other ETFs experienced notable outflows » Also see: HLT Historical Stock Prices PMI Historical Stock Prices Funds Holding PROC The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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For a complete list of holdings, visit the ARKK Holdings page » The chart below shows the one year price performance of ARKK, versus its 200 day moving average: Looking at the chart above, ARKK's low point in its 52 week range is $29.43 per share, with $51.33 as the 52 week high point — that compares with a last trade of $48.58. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Click here to find out which 9 other ETFs experienced notable outflows » Also see: HLT Historical Stock Prices PMI Historical Stock Prices Funds Holding PROC The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the ARK Innovation ETF (Symbol: ARKK) where we have detected an approximate $154.4 million dollar outflow -- that's a 1.8% decrease week over week (from 176,600,000 to 173,400,000). For a complete list of holdings, visit the ARKK Holdings page » The chart below shows the one year price performance of ARKK, versus its 200 day moving average: Looking at the chart above, ARKK's low point in its 52 week range is $29.43 per share, with $51.33 as the 52 week high point — that compares with a last trade of $48.58. Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
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Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the ARK Innovation ETF (Symbol: ARKK) where we have detected an approximate $154.4 million dollar outflow -- that's a 1.8% decrease week over week (from 176,600,000 to 173,400,000). For a complete list of holdings, visit the ARKK Holdings page » The chart below shows the one year price performance of ARKK, versus its 200 day moving average: Looking at the chart above, ARKK's low point in its 52 week range is $29.43 per share, with $51.33 as the 52 week high point — that compares with a last trade of $48.58. Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''.
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412436f8-0b38-4c6b-bb97-58aea7a544dc
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714598.0
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2023-12-06 00:00:00 UTC
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Noteworthy ETF Inflows: VONG, LMT, AMAT, DE
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DCOMP
|
https://www.nasdaq.com/articles/noteworthy-etf-inflows%3A-vong-lmt-amat-de
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nan
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nan
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Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the Vanguard Russell 1000 Growth ETF (Symbol: VONG) where we have detected an approximate $795.6 million dollar inflow -- that's a 5.2% increase week over week in outstanding units (from 205,581,844 to 216,206,844). Among the largest underlying components of VONG, in trading today Lockheed Martin Corp (Symbol: LMT) is up about 0.7%, Applied Materials, Inc. (Symbol: AMAT) is up about 0.4%, and Deere & Co. (Symbol: DE) is higher by about 2%. For a complete list of holdings, visit the VONG Holdings page » The chart below shows the one year price performance of VONG, versus its 200 day moving average:
Looking at the chart above, VONG's low point in its 52 week range is $53.82 per share, with $75.56 as the 52 week high point — that compares with a last trade of $74.82. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ».
Free Report: Top 8%+ Dividends (paid monthly)
Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Click here to find out which 9 other ETFs had notable inflows »
Also see:
SLS shares outstanding history
ETFs Holding AFMD
ITEK Historical Stock Prices
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs. Click here to find out which 9 other ETFs had notable inflows » Also see: SLS shares outstanding history ETFs Holding AFMD ITEK Historical Stock Prices The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Among the largest underlying components of VONG, in trading today Lockheed Martin Corp (Symbol: LMT) is up about 0.7%, Applied Materials, Inc. (Symbol: AMAT) is up about 0.4%, and Deere & Co. (Symbol: DE) is higher by about 2%. For a complete list of holdings, visit the VONG Holdings page » The chart below shows the one year price performance of VONG, versus its 200 day moving average: Looking at the chart above, VONG's low point in its 52 week range is $53.82 per share, with $75.56 as the 52 week high point — that compares with a last trade of $74.82. Click here to find out which 9 other ETFs had notable inflows » Also see: SLS shares outstanding history ETFs Holding AFMD ITEK Historical Stock Prices The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the Vanguard Russell 1000 Growth ETF (Symbol: VONG) where we have detected an approximate $795.6 million dollar inflow -- that's a 5.2% increase week over week in outstanding units (from 205,581,844 to 216,206,844). For a complete list of holdings, visit the VONG Holdings page » The chart below shows the one year price performance of VONG, versus its 200 day moving average: Looking at the chart above, VONG's low point in its 52 week range is $53.82 per share, with $75.56 as the 52 week high point — that compares with a last trade of $74.82. Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
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Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the Vanguard Russell 1000 Growth ETF (Symbol: VONG) where we have detected an approximate $795.6 million dollar inflow -- that's a 5.2% increase week over week in outstanding units (from 205,581,844 to 216,206,844). Among the largest underlying components of VONG, in trading today Lockheed Martin Corp (Symbol: LMT) is up about 0.7%, Applied Materials, Inc. (Symbol: AMAT) is up about 0.4%, and Deere & Co. (Symbol: DE) is higher by about 2%. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand.
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52d71c45-3157-4fa0-9205-72a98efa7d30
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714599.0
|
2023-12-06 00:00:00 UTC
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Noteworthy ETF Inflows: VGT, LRCX, ADI, MU
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DCOMP
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https://www.nasdaq.com/articles/noteworthy-etf-inflows%3A-vgt-lrcx-adi-mu
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nan
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nan
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Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the Vanguard Information Technology ETF (Symbol: VGT) where we have detected an approximate $754.4 million dollar inflow -- that's a 1.4% increase week over week in outstanding units (from 119,877,405 to 121,508,799). Among the largest underlying components of VGT, in trading today Lam Research Corp (Symbol: LRCX) is up about 0.6%, Analog Devices Inc (Symbol: ADI) is up about 0.5%, and Micron Technology Inc. (Symbol: MU) is up by about 0.6%. For a complete list of holdings, visit the VGT Holdings page » The chart below shows the one year price performance of VGT, versus its 200 day moving average:
Looking at the chart above, VGT's low point in its 52 week range is $310 per share, with $466.67 as the 52 week high point — that compares with a last trade of $461.57. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ».
Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Click here to find out which 9 other ETFs had notable inflows »
Also see:
Top Stocks Held By Victor Mashaal
Top Ten Hedge Funds Holding TWO
SELF Insider Buying
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs. Click here to find out which 9 other ETFs had notable inflows » Also see: Top Stocks Held By Victor Mashaal Top Ten Hedge Funds Holding TWO SELF Insider Buying The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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For a complete list of holdings, visit the VGT Holdings page » The chart below shows the one year price performance of VGT, versus its 200 day moving average: Looking at the chart above, VGT's low point in its 52 week range is $310 per share, with $466.67 as the 52 week high point — that compares with a last trade of $461.57. Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. Click here to find out which 9 other ETFs had notable inflows » Also see: Top Stocks Held By Victor Mashaal Top Ten Hedge Funds Holding TWO SELF Insider Buying The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the Vanguard Information Technology ETF (Symbol: VGT) where we have detected an approximate $754.4 million dollar inflow -- that's a 1.4% increase week over week in outstanding units (from 119,877,405 to 121,508,799). For a complete list of holdings, visit the VGT Holdings page » The chart below shows the one year price performance of VGT, versus its 200 day moving average: Looking at the chart above, VGT's low point in its 52 week range is $310 per share, with $466.67 as the 52 week high point — that compares with a last trade of $461.57. Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
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Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the Vanguard Information Technology ETF (Symbol: VGT) where we have detected an approximate $754.4 million dollar inflow -- that's a 1.4% increase week over week in outstanding units (from 119,877,405 to 121,508,799). Among the largest underlying components of VGT, in trading today Lam Research Corp (Symbol: LRCX) is up about 0.6%, Analog Devices Inc (Symbol: ADI) is up about 0.5%, and Micron Technology Inc. (Symbol: MU) is up by about 0.6%. Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''.
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