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715200.0
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2023-12-01 00:00:00 UTC
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Why Is Kraft Heinz (KHC) Up 4.8% Since Last Earnings Report?
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DCOMP
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https://www.nasdaq.com/articles/why-is-kraft-heinz-khc-up-4.8-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 Kraft Heinz (KHC). Shares have added about 4.8% in that time frame, underperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Kraft Heinz 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.
Kraft Heinz Raises Profit Guidance on Q3 Earnings Beat
Kraft Heinz posted solid third-quarter 2023 results, wherein the top and bottom lines increased year over year, and earnings came ahead of the Zacks Consensus Estimate. Results continued to gain from sales growth in the company’s three key pillars — foodservice, emerging markets and U.S. Retail Grow platforms. Encouragingly, management raised its adjusted EPS and adjusted EBITDA guidance for 2023.
Quarter in Detail
Kraft Heinz posted adjusted earnings of 72 cents per share, beating the Zacks Consensus Estimate of 66 cents. Quarterly earnings jumped 14.3% year over year, mainly due to increased adjusted EBITDA and positive changes in other expenses/(income), somewhat negated by elevated taxes.
The company generated net sales of $6,570 million, up 1% year over year. Net sales included an unfavorable currency impact of 0.5 percentage points and an adverse impact of 0.2 percentage points from divestitures. Net sales missed the Zacks Consensus Estimate of $6,700 million.
Organic net sales increased 1.7% year over year. Pricing rose 7.1 percentage points year over year, reflecting growth in both segments. The upside can be attributed to higher list prices to counter escalated input costs. The volume/mix fell 5.4 percentage points due to the elasticity effect of pricing actions in both units. Our model suggested pricing to be up 8.5% and volumes to decline 5.9% in the third quarter.
The adjusted gross profit of $2,231 million jumped 14.3% from the figure reported in the year-ago quarter. The adjusted gross margin expanded 396 bps to 34%. We had expected an adjusted gross margin expansion of about 240 basis points.
Adjusted EBITDA advanced 11.9% to $1,565 million due to elevated pricing and efficiency gains. These were somewhat negated by elevated supply-chain costs, an adverse volume/mix, currency headwinds and investments related to marketing, technology and research & development. Supply-chain costs included inflation across procurement and manufacturing costs.
Segment Discussion
North America: Net sales of $4,995 million declined 0.4% year over year. Organic sales fell 0.1%. During the quarter, pricing moved up 5.8 percentage points, but the volume/mix fell 5.9 percentage points.
International: Net sales of $1,575 million were up 5.7% year over year. Organic sales rose 8%, with pricing up 11.6 percentage points, but the volume/mix down 3.6 percentage points.
Other Financial Aspects
Kraft Heinz ended the quarter with cash and cash equivalents of $1,052 million, long-term debt of $19,270 million and total shareholders’ equity of $49,434 million. Net cash provided by operating activities was $2,620 million for the first nine months of 2023. The company has generated free cash flow of $1,841 million year to date.
Guidance
For 2023, management expects organic net sales growth to be at the lower end of its previously guided range of 4-6%.
Adjusted EBITDA is expected to increase 5-7% at cc compared with the 4-6% growth projected earlier. Excluding the impacts of the 53rd week in 2022, the adjusted EBITDA is now likely to rise 7-9% compared with the earlier view of 6-8%.
Management expects an adjusted gross margin expansion, driven by pricing and efficiencies. However, it expects mid-single-digit inflation in 2023. The adjusted gross profit margin is likely to increase 200-250 basis points in 2023 compared with the expansion of 150-200 basis points expected earlier.
The adjusted EPS for the year is now envisioned in the band of $2.91-$2.99, higher than the prior view of $2.83-$2.91. The latest guidance includes a nearly 3-cent expected impact of adverse changes in non-cash pension and post-retirement benefits and a roughly 4-cent adverse impact of currency woes. The bottom-line view also includes an adverse 6-cent impact from lapping the 53rd week in 2022.
How Have Estimates Been Moving Since Then?
It turns out, estimates revision have trended upward during the past month.
VGM Scores
At this time, Kraft Heinz 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 A on the value side, putting it in the top 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. It comes with little surprise Kraft Heinz 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
Kraft Heinz belongs to the Zacks Food - Miscellaneous industry. Another stock from the same industry, Sysco (SYY), has gained 9.9% over the past month. More than a month has passed since the company reported results for the quarter ended September 2023.
Sysco reported revenues of $19.62 billion in the last reported quarter, representing a year-over-year change of +2.6%. EPS of $1.07 for the same period compares with $0.97 a year ago.
For the current quarter, Sysco is expected to post earnings of $0.88 per share, indicating a change of +10% from the year-ago quarter. The Zacks Consensus Estimate has changed +2.3% over the last 30 days.
The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for Sysco. Also, the stock has a VGM Score of A.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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
Kraft Heinz Company (KHC) : Free Stock Analysis Report
Sysco Corporation (SYY) : 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. Results continued to gain from sales growth in the company’s three key pillars — foodservice, emerging markets and U.S. Retail Grow platforms. These were somewhat negated by elevated supply-chain costs, an adverse volume/mix, currency headwinds and investments related to marketing, technology and research & development.
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Kraft Heinz Raises Profit Guidance on Q3 Earnings Beat Kraft Heinz posted solid third-quarter 2023 results, wherein the top and bottom lines increased year over year, and earnings came ahead of the Zacks Consensus Estimate. Quarter in Detail Kraft Heinz posted adjusted earnings of 72 cents per share, beating the Zacks Consensus Estimate of 66 cents. Click to get this free report Kraft Heinz Company (KHC) : Free Stock Analysis Report Sysco Corporation (SYY) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Kraft Heinz Raises Profit Guidance on Q3 Earnings Beat Kraft Heinz posted solid third-quarter 2023 results, wherein the top and bottom lines increased year over year, and earnings came ahead of the Zacks Consensus Estimate. Quarterly earnings jumped 14.3% year over year, mainly due to increased adjusted EBITDA and positive changes in other expenses/(income), somewhat negated by elevated taxes. Click to get this free report Kraft Heinz Company (KHC) : Free Stock Analysis Report Sysco Corporation (SYY) : 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 Kraft Heinz (KHC). The company generated net sales of $6,570 million, up 1% year over year. International: Net sales of $1,575 million were up 5.7% year over year.
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ca3b27c9-d785-404b-8ca6-7f5666c22c71
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715201.0
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2023-12-01 00:00:00 UTC
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Rayonier (RYN) Up 7.4% Since Last Earnings Report: Can It Continue?
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DCOMP
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https://www.nasdaq.com/articles/rayonier-ryn-up-7.4-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 Rayonier (RYN). Shares have added about 7.4% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Rayonier 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.
Rayonier Q3 Earnings Beat Estimates, Revenues Lag
Rayonier reported third-quarter 2023 pro-forma net income per share of 13 cents, beating the Zacks Consensus Estimate by a penny. However, the figure declined 13.3% from the prior-year quarter’s 15 cents.
Rayonier’s New Zealand Timber and Real Estate segments displayed solid results. However, weakness in the Southern Timber and Pacific Northwest Timber segments marred its performance partly.
Quarterly revenues came in at $201.6 million, which missed the Zacks Consensus Estimate of $208.7 million. On a year-over-year basis, revenues rose 3.2%.
According to David Nunes, CEO of Rayonier, “We generated strong third-quarter results, particularly in light of the macroeconomic challenges that continue to adversely impact our timber businesses. Adjusted EBITDA improved 22% versus the prior year quarter, primarily driven by a stronger contribution from our Real Estate segment and increased carbon credit sales in our New Zealand Timber segment. Total Adjusted EBITDA for our collective timber segments increased 7% versus the prior year period, as favorable results in our Southern Timber and New Zealand Timber segments more than offset lower Adjusted EBITDA in our Pacific Northwest Timber segment.”
Segmental Performance
In the third quarter, the pro-forma operating income at the company’s Southern Timber segment came in at $18.6 million, which decreased 17.3% from the prior-year quarter’s $22.5 million. Our estimate for the metric was $12.8 million. The decline was due to a fall in net stumpage realizations, higher depletion rates, and higher overhead and other costs, partially offset by higher volumes and higher non-timber income.
The Pacific Northwest Timber segment incurred a pro-forma operating loss of $0.6 million against an income of $3.3 million a year ago. Our estimate for the metric was the same as the reported number. The decline was attributable to lower net stumpage realizations, decreased volumes, higher costs and lower timber income, partially offset by lesser depletion rates.
The New Zealand Timber segment recorded pro-forma operating income of $17.6 million, up from the year-earlier quarter’s $9.3 million. This was due to high carbon credit sales, partially offset by lower volumes and lower net stumpage realizations.
Real Estate’s pro-forma operating income was $9.2 million, higher than the year-ago period of $4.3 million. The higher number of acres sold and the increase in weighted average prices led to the rise.
The Trading segment reported a $0.1 million pro-forma operating loss in the third quarter against an income of $0.2 million in the prior-year quarter. Our estimate for the metric was $0.2 million.
Balance Sheet
Rayonier exited the third quarter of 2023 with $107.8 million in cash and cash equivalents, down from $114.3 million as of Dec 31, 2022.
2023 Guidance
For 2023, Rayonier expects adjusted EBITDA to be at the higher end of the prior guidance of $275-$300 million.
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 17.39% due to these changes.
VGM Scores
At this time, Rayonier has a poor Growth Score of F, 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 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, Rayonier 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
Rayonier belongs to the Zacks Building Products - Wood industry. Another stock from the same industry, UFP Industries (UFPI), has gained 11.3% over the past month. More than a month has passed since the company reported results for the quarter ended September 2023.
UFP Industries reported revenues of $1.83 billion in the last reported quarter, representing a year-over-year change of -21.3%. EPS of $2.10 for the same period compares with $2.66 a year ago.
UFP Industries is expected to post earnings of $1.68 per share for the current quarter, representing a year-over-year change of -20%. Over the last 30 days, the Zacks Consensus Estimate has changed -2.3%.
UFP Industries 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 Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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
Rayonier Inc. (RYN) : Free Stock Analysis Report
UFP Industries, Inc. (UFPI) : 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.
|
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. According to David Nunes, CEO of Rayonier, “We generated strong third-quarter results, particularly in light of the macroeconomic challenges that continue to adversely impact our timber businesses. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
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Rayonier Q3 Earnings Beat Estimates, Revenues Lag Rayonier reported third-quarter 2023 pro-forma net income per share of 13 cents, beating the Zacks Consensus Estimate by a penny. Total Adjusted EBITDA for our collective timber segments increased 7% versus the prior year period, as favorable results in our Southern Timber and New Zealand Timber segments more than offset lower Adjusted EBITDA in our Pacific Northwest Timber segment.” Segmental Performance In the third quarter, the pro-forma operating income at the company’s Southern Timber segment came in at $18.6 million, which decreased 17.3% from the prior-year quarter’s $22.5 million. Click to get this free report Rayonier Inc. (RYN) : Free Stock Analysis Report UFP Industries, Inc. (UFPI) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Rayonier Q3 Earnings Beat Estimates, Revenues Lag Rayonier reported third-quarter 2023 pro-forma net income per share of 13 cents, beating the Zacks Consensus Estimate by a penny. Total Adjusted EBITDA for our collective timber segments increased 7% versus the prior year period, as favorable results in our Southern Timber and New Zealand Timber segments more than offset lower Adjusted EBITDA in our Pacific Northwest Timber segment.” Segmental Performance In the third quarter, the pro-forma operating income at the company’s Southern Timber segment came in at $18.6 million, which decreased 17.3% from the prior-year quarter’s $22.5 million. Click to get this free report Rayonier Inc. (RYN) : Free Stock Analysis Report UFP Industries, Inc. (UFPI) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Total Adjusted EBITDA for our collective timber segments increased 7% versus the prior year period, as favorable results in our Southern Timber and New Zealand Timber segments more than offset lower Adjusted EBITDA in our Pacific Northwest Timber segment.” Segmental Performance In the third quarter, the pro-forma operating income at the company’s Southern Timber segment came in at $18.6 million, which decreased 17.3% from the prior-year quarter’s $22.5 million. Real Estate’s pro-forma operating income was $9.2 million, higher than the year-ago period of $4.3 million. UFP Industries reported revenues of $1.83 billion in the last reported quarter, representing a year-over-year change of -21.3%.
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94cd94cb-e801-457a-bfd9-05c3f0b4481c
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715202.0
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2023-12-01 00:00:00 UTC
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Selective Insurance (SIGI) Down 3.5% Since Last Earnings Report: Can It Rebound?
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DCOMP
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https://www.nasdaq.com/articles/selective-insurance-sigi-down-3.5-since-last-earnings-report%3A-can-it-rebound
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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 Selective Insurance (SIGI). Shares have lost about 3.5% in that time frame, underperforming the S&P 500.
Will the recent negative trend continue leading up to its next earnings release, or is Selective Insurance 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.
Selective Insurance Q3 Earnings Lag on Higher Expenses
Selective Insurance reported third-quarter 2023 operating income of $1.51 per share, which missed the Zacks Consensus Estimate by 9%. The bottom line increased 52.5% from the year-ago quarter.
The quarter witnessed average renewal pure price increases, new business growth and net investment income. Higher catastrophe losses and escalating costs were offsets.
Behind the Headlines
Total revenues of $1 billion increased 18.1% from the year-ago quarter’s figure, primarily due to higher premiums earned, net investment income and net premiums written (NPW). The top line outpaced the Zacks Consensus Estimate by 1.7%.
On a year-over-year basis, NPW increased 17% to $1.05 billion, driven by renewal pure price increases, exposure growth, stable retention and strong new business. The figure was higher than our estimate of $996.2 million.
After-tax net investment income increased 56% year over year to $80 million. The figure was higher than our estimate of $48.3 million. The Zacks Consensus Estimate was pegged at $72 million.
After-tax net underwriting income was $25 million, which increased 16.8% year over year. Pre-tax catastrophe losses increased 89.4% year over year to $64.6 million. Non-catastrophe property loss and loss expenses of $172.8 million increased 3.1% year over year.
The combined ratio of 96.8 remained unchanged year over year, with improvement in the underlying combined ratio, offset by higher catastrophe losses and no net prior year casualty reserve development.
Total expenses increased 15% year over year to $968.6 million, primarily due to higher loss and loss expenses incurred, other insurance expenses, amortization of deferred policy acquisition costs and corporate expenses. The figure was higher than our estimate of $938.5 million.
Segmental Results
Standard Commercial Lines’ NPW was up 15% year over year to $833.6 million. The premium growth reflected average renewal pure price increases of 7.1%, new business growth of 13%, strong exposure growth and consistent retention of 86%. The figure was higher than our estimate of $798.1 million.
The combined ratio improved 210 basis points (bps) to 94.7. The Zacks Consensus Estimate and our estimate were both pegged at 97.
Standard Personal Lines’ NPW increased 30% year over year to $113.2 million. Renewal pure price increases averaged 6.1%, retention was 88% and new business was up $14.3 million, which drove the improvement in NPW. The figure was higher than our estimate of $90.8 million.
The combined ratio deteriorated 2,560 bps on a year-over-year basis to 127.4. The Zacks Consensus Estimate was pegged at 112, while our estimate was 111.5.
Excess & Surplus Lines’ NPW was up 25% year over year to $111.6 million, driven by average renewal pure price increases of 6.6% and new business growth of 43%. The figure was higher than our estimate of $107.3 million.
The combined ratio improved 910 bps to 83.9. The Zacks Consensus Estimate was pegged at 88, while our estimate was 88.4.
Financial Update
Selective Insurance exited third-quarter 2023 with total assets of $11.4 billion, which was 6% below the level at December 2022 end. Long-term debt of $504.6 million was flat with the 2022 level.
Debt-to-total capitalization improved 60 bps to 16% from the level as of 2022 end.
As of Sep 30, 2023, book value per share was $40.35, up 9% year over year.
Annualized non-GAAP operating return on equity was 15% in the third quarter of 2023, which expanded 450 bps year over year.
Share Repurchase and Dividend Update
In the first nine months of 2023, Selective Insurance did not repurchase any shares. It had $84.2 million remaining under authorization as of Sep 30, 2023.
The board of directors authorized a 17% increase in the quarterly cash dividend to 35 cents per share. The dividend will be paid out on Dec 1 to shareholders of record at the close of business as of Nov 15, 2023.
2023 Guidance
SIGI estimates a GAAP combined ratio of 96.5%, unchanged from last quarter, including net catastrophe losses of 6.5 points, up from prior guidance of 6 points. The combined ratio estimate assumes no additional prior-year casualty reserve development.
Selective Insurance estimates after-tax net investment income of $310 million, up from prior guidance of $300 million. It includes $20 million of after-tax net investment income from alternative investments.
The overall effective tax rate is expected to be around 21%, which assumes an effective tax rate of 20% for net investment income and 21% for all other items.
Weighted average shares were 61 million on a fully diluted basis.
How Have Estimates Been Moving Since Then?
It turns out, estimates revision have trended downward during the past month.
The consensus estimate has shifted -6.45% due to these changes.
VGM Scores
At this time, Selective Insurance has an average Growth Score of C, though it is lagging a bit on the Momentum Score front with a D. However, 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 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, Selective Insurance 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
Selective Insurance belongs to the Zacks Insurance - Property and Casualty industry. Another stock from the same industry, RLI Corp. (RLI), has gained 0.9% over the past month. More than a month has passed since the company reported results for the quarter ended September 2023.
RLI Corp. reported revenues of $350.37 million in the last reported quarter, representing a year-over-year change of +12%. EPS of $0.61 for the same period compares with $0.50 a year ago.
For the current quarter, RLI Corp. is expected to post earnings of $1.39 per share, indicating a change of -9.2% from the year-ago quarter. The Zacks Consensus Estimate has changed +0.7% over the last 30 days.
RLI Corp. 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 Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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
Selective Insurance Group, Inc. (SIGI) : Free Stock Analysis Report
RLI Corp. (RLI) : 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.
|
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. Financial Update Selective Insurance exited third-quarter 2023 with total assets of $11.4 billion, which was 6% below the level at December 2022 end. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
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Behind the Headlines Total revenues of $1 billion increased 18.1% from the year-ago quarter’s figure, primarily due to higher premiums earned, net investment income and net premiums written (NPW). The combined ratio of 96.8 remained unchanged year over year, with improvement in the underlying combined ratio, offset by higher catastrophe losses and no net prior year casualty reserve development. Click to get this free report Selective Insurance Group, Inc. (SIGI) : Free Stock Analysis Report RLI Corp. (RLI) : Free Stock Analysis Report To read this article on Zacks.com click here.
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The combined ratio of 96.8 remained unchanged year over year, with improvement in the underlying combined ratio, offset by higher catastrophe losses and no net prior year casualty reserve development. Total expenses increased 15% year over year to $968.6 million, primarily due to higher loss and loss expenses incurred, other insurance expenses, amortization of deferred policy acquisition costs and corporate expenses. Selective Insurance estimates after-tax net investment income of $310 million, up from prior guidance of $300 million.
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It has been about a month since the last earnings report for Selective Insurance (SIGI). Behind the Headlines Total revenues of $1 billion increased 18.1% from the year-ago quarter’s figure, primarily due to higher premiums earned, net investment income and net premiums written (NPW). The combined ratio of 96.8 remained unchanged year over year, with improvement in the underlying combined ratio, offset by higher catastrophe losses and no net prior year casualty reserve development.
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5dd3e519-09b9-4417-ba89-18f69b27a6d0
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715203.0
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2023-12-01 00:00:00 UTC
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DXC Technology Company. (DXC) Up 3.7% Since Last Earnings Report: Can It Continue?
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DCOMP
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https://www.nasdaq.com/articles/dxc-technology-company.-dxc-up-3.7-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 DXC Technology Company. (DXC). Shares have added about 3.7% in that time frame, underperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is DXC Technology Company. 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.
DXC Q2 Earnings Top Estimates, Revenues Meet
DXC reported better-than-expected bottom-line results in the second quarter of fiscal 2024. The IT services and consulting company posted second-quarter non-GAAP earnings of 70 cents per share, which beat the Zacks Consensus Estimate of 68 cents.
However, the bottom line decreased 6.7% from the prior-year quarter’s earnings of 75 cents per share. The year-over-year decline was primarily due to lower revenues and increased interest expenses, partially offset by the benefits of cost-saving initiatives and a lower share count.
DXC reported revenues of $3.44 billion, in line with the consensus mark, but declined 3.6% year over year, mainly due to a reduced level of low-margin resale revenues. We believe that the top line was negatively impacted by a slowdown in client expenditures in the current uncertain macroeconomic environment.
Quarterly Details
DXC’s bookings in the fiscal second quarter were $2.8 billion, reflecting a book-to-bill ratio of 0.81. The trailing 12-month book-to-bill ratio for the company was 1.02 at the second-quarter fiscal 2024-end. Our estimate for bookings and the book-to-bill ratio was pegged at $3 billion and 0.87, respectively.
Segment-wise, revenues from Global Business Services (“GBS”) inched down 0.2% on a year-over-year basis to $1.71 billion. Our estimate for the GBS segment’s second-quarter revenues was pegged at $1.72 billion.
However, on an organic basis, the division’s revenues improved 2.4% year over year. The upside was primarily aided by the strong performance of Analytics & Engineering and Insurance Software & BPS offerings, where revenues increased 5.3% and 5.2%, respectively, on an organic basis. However, the GBS segment’s Applications offerings registered a year-over-year organic revenue decline of 0.8%.
Global Infrastructure Services (“GIS”) revenues were $1.73 billion in the fiscal second quarter, down 6.8% year over year. Our estimate for the GIS segment’s second-quarter revenues was pegged at $1.72 billion.
On an organic basis, the division’s revenues decreased 9.1% year over year. Under the GIS division, revenues from Cloud Infrastructure & ITO, Modern Workplace and Security offerings declined 9.8%, 9% and 1.8%, respectively, on an organic basis.
The company’s adjusted gross margin improved 120 basis points (bps) year over year to 23.4%, mainly driven by its cost reduction initiatives. DXC’s adjusted operating income declined to $251 million in the second quarter from $269 million in the year-ago quarter. The adjusted operating margin contracted to 7.3% from 7.5%.
Balance Sheet and Cash Flow
DXC exited the fiscal second quarter with $1.41 billion in cash and cash equivalents compared with $1.58 billion in the previous quarter. The long-term debt balance (net of current maturities) was $3.79 billion as of Sep 30, 2023, down from $3.9 billion as of Jun 30.
In the second quarter, DXC generated operating cash flow of $248 million and free cash flow of $91 million. During the quarter, it bought back shares worth $214 million. The company stated that it is on track to complete the $1 billion share repurchase program in fiscal 2024. DXC had initiated the $1 billion share buyback program in April 2023.
During the first half of fiscal 2024, DXC generated operating cash flow and free cash flow of $375 million and $16 million, respectively. It returned $494 million to shareholders through share repurchases during the period.
Lowered FY24 Revenue Guidance
DXC lowered its revenue guidance for the full fiscal 2024. For fiscal 2024, DXC now estimates revenues in the band of $13.58-$13.73 billion, down from its previous forecast in the range of $13.88-$14.03 billion.
However, the company reaffirmed fiscal 2024 guidance for other metrics. It still projects the adjusted EBIT margin for the fiscal in the range of 7%-7.5% and adjusted EPS between $3.15 and $3.40.
DXC also initiated guidance for the third quarter. For the quarter, the company anticipates revenues between $3.32 billion and $3.37 billion. The adjusted EBIT margin is expected in the range of 7%-7.5%. DXC projects adjusted earnings between 75 cents and 80 cents per share for the third quarter.
How Have Estimates Been Moving Since Then?
It turns out, fresh estimates have trended downward during the past month.
The consensus estimate has shifted -12.6% due to these changes.
VGM Scores
At this time, DXC Technology Company. 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 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 these revisions indicates a downward shift. Notably, DXC Technology Company. 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
DXC Technology Company. belongs to the Zacks Computers - IT Services industry. Another stock from the same industry, Check Point Software (CHKP), has gained 6.9% over the past month. More than a month has passed since the company reported results for the quarter ended September 2023.
Check Point reported revenues of $596.3 million in the last reported quarter, representing a year-over-year change of +3.2%. EPS of $2.07 for the same period compares with $1.77 a year ago.
Check Point is expected to post earnings of $2.46 per share for the current quarter, representing a year-over-year change of +0.4%. Over the last 30 days, the Zacks Consensus Estimate has changed +0.3%.
Check Point 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 Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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
DXC Technology Company. (DXC) : Free Stock Analysis Report
Check Point Software Technologies Ltd. (CHKP) : 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 upside was primarily aided by the strong performance of Analytics & Engineering and Insurance Software & BPS offerings, where revenues increased 5.3% and 5.2%, respectively, on an organic basis. Under the GIS division, revenues from Cloud Infrastructure & ITO, Modern Workplace and Security offerings declined 9.8%, 9% and 1.8%, respectively, on an organic basis.
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In the second quarter, DXC generated operating cash flow of $248 million and free cash flow of $91 million. During the first half of fiscal 2024, DXC generated operating cash flow and free cash flow of $375 million and $16 million, respectively. (DXC) : Free Stock Analysis Report Check Point Software Technologies Ltd. (CHKP) : Free Stock Analysis Report To read this article on Zacks.com click here.
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DXC Q2 Earnings Top Estimates, Revenues Meet DXC reported better-than-expected bottom-line results in the second quarter of fiscal 2024. DXC reported revenues of $3.44 billion, in line with the consensus mark, but declined 3.6% year over year, mainly due to a reduced level of low-margin resale revenues. Balance Sheet and Cash Flow DXC exited the fiscal second quarter with $1.41 billion in cash and cash equivalents compared with $1.58 billion in the previous quarter.
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It has been about a month since the last earnings report for DXC Technology Company. For fiscal 2024, DXC now estimates revenues in the band of $13.58-$13.73 billion, down from its previous forecast in the range of $13.88-$14.03 billion. Free: See Our Top Stock and 4 Runners Up >> Want the latest recommendations from Zacks Investment Research?
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12c96789-1b94-400c-a31c-1ff04aa1f777
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715204.0
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2023-12-01 00:00:00 UTC
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CVS Health (CVS) Down 2.4% Since Last Earnings Report: Can It Rebound?
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DCOMP
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https://www.nasdaq.com/articles/cvs-health-cvs-down-2.4-since-last-earnings-report%3A-can-it-rebound
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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 CVS Health (CVS). Shares have lost about 2.4% in that time frame, underperforming the S&P 500.
Will the recent negative trend continue leading up to its next earnings release, or is CVS Health 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 catalysts.
CVS Health Q3 Earnings Surpass Estimates, Margins Up
CVS Health third-quarter 2023 adjusted earnings per share of $2.21 rose 1.8% year over year and exceeded the Zacks Consensus Estimate by 3.8%. The adjusted EPS figure considers certain asset amortization costs, loss on assets held for sale and other adjustments.
On a reported basis, the company’s GAAP earnings were $1.75 per share, compared with the year-ago GAAP loss of $2.59.
Total revenues in the third quarter rose 10.6% year over year to $89.76 billion. The top line also beat the Zacks Consensus Estimate by 1.8%.
Quarter in Detail
The company recently realigned the composition of its segments. It created the Health Services segment (comprising the company’s pharmacy benefit management operations, health care services and provider enablement solutions) and the Pharmacy & Consumer Wellness segment (comprising enterprise pharmacy fulfillment and retail front store operations).
Health Services revenues were up 8.4% to $46.89 billion in the reported quarter. The upside was primarily driven by pharmacy drug mix, growth in specialty pharmacy, brand inflation and the acquisitions of Oak Street Health and Signify Health, partially offset by continued client price improvements.
Total pharmacy claims processed fell 0.9% on a 30-day equivalent basis, reflecting the impact of a Medicaid customer contract change that occurred during the second quarter of 2023 and a decrease in COVID-19 vaccinations. The decline was largely offset by net new business.
Revenues from CVS Health’s Pharmacy & Consumer Wellness segment were up 6% year over year to $28.87 billion. The impressive growth was driven by increased prescription and front store volume, pharmacy drug mix and brand inflation. However, this growth was partially offset by continued pharmacy reimbursement pressure, the impact of recent generic introductions, a decrease in store count and decreased sales of COVID-19 OTC test kits.
Within the Health Care Benefits segment, the company registered revenues worth $26.29 billion in the third quarter, up 16.9% year over year, driven by growth across all product lines.
Margin
Total cost (including Benefit Costs) rose 8.6% to $54.68 billion in the third quarter. Gross profit rose 13.9% to $35.08 billion. The gross margin expanded 113 basis points (bps) to 39.1%.
The adjusted operating margin in the quarter under review expanded 197 bps to 28.1% on an 18.9% rise in operating expenses to $25.20 billion.
2023 Guidance
CVS Health reiterated its adjusted EPS guidance for full-year 2023 to the band of $8.50-$8.70. The Zacks Consensus Estimate for 2023 earnings is pegged at $8.60.
The company has also reiterated its full-year operating cash flow projection in the range of $12.5-$13.5 billion.
How Have Estimates Been Moving Since Then?
In the past month, investors have witnessed a downward trend in fresh estimates.
VGM Scores
At this time, CVS Health has a great 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 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 these revisions indicates a downward shift. Notably, CVS Health has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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
CVS Health Corporation (CVS) : 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. Total pharmacy claims processed fell 0.9% on a 30-day equivalent basis, reflecting the impact of a Medicaid customer contract change that occurred during the second quarter of 2023 and a decrease in COVID-19 vaccinations. The impressive growth was driven by increased prescription and front store volume, pharmacy drug mix and brand inflation.
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CVS Health Q3 Earnings Surpass Estimates, Margins Up CVS Health third-quarter 2023 adjusted earnings per share of $2.21 rose 1.8% year over year and exceeded the Zacks Consensus Estimate by 3.8%. It created the Health Services segment (comprising the company’s pharmacy benefit management operations, health care services and provider enablement solutions) and the Pharmacy & Consumer Wellness segment (comprising enterprise pharmacy fulfillment and retail front store operations). Within the Health Care Benefits segment, the company registered revenues worth $26.29 billion in the third quarter, up 16.9% year over year, driven by growth across all product lines.
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CVS Health Q3 Earnings Surpass Estimates, Margins Up CVS Health third-quarter 2023 adjusted earnings per share of $2.21 rose 1.8% year over year and exceeded the Zacks Consensus Estimate by 3.8%. It created the Health Services segment (comprising the company’s pharmacy benefit management operations, health care services and provider enablement solutions) and the Pharmacy & Consumer Wellness segment (comprising enterprise pharmacy fulfillment and retail front store operations). Within the Health Care Benefits segment, the company registered revenues worth $26.29 billion in the third quarter, up 16.9% year over year, driven by growth across all product lines.
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A month has gone by since the last earnings report for CVS Health (CVS). CVS Health Q3 Earnings Surpass Estimates, Margins Up CVS Health third-quarter 2023 adjusted earnings per share of $2.21 rose 1.8% year over year and exceeded the Zacks Consensus Estimate by 3.8%. Within the Health Care Benefits segment, the company registered revenues worth $26.29 billion in the third quarter, up 16.9% year over year, driven by growth across all product lines.
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5afc3cca-6fdf-4e2e-8f30-86e348aea2bf
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715205.0
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2023-12-01 00:00:00 UTC
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Altice USA, Inc. (ATUS) Down 21% Since Last Earnings Report: Can It Rebound?
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DCOMP
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https://www.nasdaq.com/articles/altice-usa-inc.-atus-down-21-since-last-earnings-report%3A-can-it-rebound
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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 Altice USA, Inc. (ATUS). Shares have lost about 21% in that time frame, underperforming the S&P 500.
Will the recent negative trend continue leading up to its next earnings release, or is Altice USA, Inc. 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 catalysts.
Altice Beats on Q3 Earnings Despite Lower Revenues
Altice's third-quarter 2023 bottom and top line beat the respective Zacks Consensus Estimate. However, both metrics declined year over year due to a challenging macroeconomic environment. Nevertheless, the company has been accelerating the pace of network rollouts with an improvement in broadband subscribers, mobile net additions and fiber customer growth.
Quarter Details
Net income in the quarter declined to $66.8 million or 15 cents per share from $84.9 million or 19 cents per share in the prior-year quarter, primarily due to top-line contraction. The bottom line, however, beat the Zacks Consensus Estimate by 6 cents.
Quarterly total revenues slipped to $2,317.2 million from $2,393.6 million in the prior year, owing to lower contributions from residential and advertising businesses due to macroeconomic uncertainty. The top line beat the consensus estimate of $2,295 million.
The company made progress in its growth strategies by accelerating network enhancement and customer experience. At the quarter-end, Altice had 2.72 million FTTH (Fiber to the home) passings, about 60,700 of which were added in the July-September period. Broadband-only customer usage averaged 659 GB per month.
FTTH broadband net additions were more than 45,000 in the quarter, led by increased migration of existing customers and higher fiber gross additions. Total fiber broadband customers reached 295,000 by the end of the quarter. Residential revenue per customer relationship declined 0.6% year over year to $138.42 due to the loss of higher ARPU video customers.
Residential revenues (which include Broadband, Video and Telephony) were $1,831.5 million, down 3.4% year over year due to a loss in unique residential customers. Business services and wholesale revenues remained flat at $366.8 million. News and Advertising revenues were $107.5 million, down 10.8% due to lower contributions from both political campaigns.
Other Quarterly Details
Operating income improved to $492.6 million from $467.3 million in the year-ago quarter. Adjusted EBITDA was $915.5 million compared with $954.4 million in the prior-year quarter. Optimum Mobile witnessed healthy subscriber growth during the quarter, reaching 288,000 customers, representing a 6.3% penetration of the residential customer base.
Altice has been accelerating the pace of its network extension and remains well on track to reach more than 150,000 passings in 2023. The company is witnessing solid customer penetration, typically reaching approximately 40% within a year of rollout in new-build areas.
Cash Flow & Liquidity
Altice generated $1,330.2 million of cash from operating activities in the first nine months of 2023 compared with $1,905.7 million in the year-ago period. As of Sep 30, 2023, the company’s net debt was $24,910 million.
How Have Estimates Been Moving Since Then?
It turns out, fresh estimates have trended downward during the past month.
The consensus estimate has shifted -35% due to these changes.
VGM Scores
At this time, Altice USA, Inc. has a poor Growth Score of F, however its Momentum Score is doing a lot better 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 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, Altice USA, Inc. 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
Altice USA, Inc. is part of the Zacks Communication - Components industry. Over the past month, Arista Networks (ANET), a stock from the same industry, has gained 3.8%. The company reported its results for the quarter ended September 2023 more than a month ago.
Arista Networks reported revenues of $1.51 billion in the last reported quarter, representing a year-over-year change of +28.3%. EPS of $1.83 for the same period compares with $1.25 a year ago.
Arista Networks is expected to post earnings of $1.70 per share for the current quarter, representing a year-over-year change of +20.6%. Over the last 30 days, the Zacks Consensus Estimate has changed +0.6%.
The overall direction and magnitude of estimate revisions translate into a Zacks Rank #2 (Buy) for Arista Networks. Also, the stock has a VGM Score of C.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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
Altice USA, Inc. (ATUS) : 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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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. Nevertheless, the company has been accelerating the pace of network rollouts with an improvement in broadband subscribers, mobile net additions and fiber customer growth. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
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Nevertheless, the company has been accelerating the pace of network rollouts with an improvement in broadband subscribers, mobile net additions and fiber customer growth. Quarter Details Net income in the quarter declined to $66.8 million or 15 cents per share from $84.9 million or 19 cents per share in the prior-year quarter, primarily due to top-line contraction. Click to get this free report Altice USA, Inc. (ATUS) : 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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Quarter Details Net income in the quarter declined to $66.8 million or 15 cents per share from $84.9 million or 19 cents per share in the prior-year quarter, primarily due to top-line contraction. Quarterly total revenues slipped to $2,317.2 million from $2,393.6 million in the prior year, owing to lower contributions from residential and advertising businesses due to macroeconomic uncertainty. Click to get this free report Altice USA, Inc. (ATUS) : 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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Quarterly total revenues slipped to $2,317.2 million from $2,393.6 million in the prior year, owing to lower contributions from residential and advertising businesses due to macroeconomic uncertainty. Total fiber broadband customers reached 295,000 by the end of the quarter. Over the last 30 days, the Zacks Consensus Estimate has changed +0.6%.
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fc2be226-79a9-48cd-b73a-94217d58655a
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715206.0
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2023-12-01 00:00:00 UTC
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Why Is Werner (WERN) Up 11.1% Since Last Earnings Report?
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DCOMP
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https://www.nasdaq.com/articles/why-is-werner-wern-up-11.1-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 Werner Enterprises (WERN). Shares have added about 11.1% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Werner 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.
Werner's Q3 Earnings Lag Estimates
Quarterly earnings per share of 42 cents lagged the Zacks Consensus Estimate of 48 cents and declined 53% on a year-over-year basis.
Total revenues of $817.74 million outperformed the Zacks Consensus Estimate of $802.4 million. The top line dipped 1% on a year-over-year basis due to a $49.7 million decrease in Truckload Transportation Services (TTS) revenues, partially offset by Logistics revenue growth of $43.1 million.
Operating income (adjusted) of $41.85 million fell 47% year over year. Adjusted operating margin contracted 450 basis points (bps) to 5.1%. Total operating expenses rose 3.7% to $779.84 million in the reported quarter.
Segmental Results
Revenues in the TTS segment tumbled 8% on a year-over-year basis to $572.19 million due to lower fuel surcharge revenues. Adjusted operating income decreased 45% to $41.64 million. Adjusted operating margin collapsed 500 bps to 7.3%. Adjusted operating ratio (operating expenses as a percentage of revenues) improved 500 bps to 92.7%.
Logistics’ revenues totaled $230.25 million, up 23% year over year. Adjusted operating income of $3.16 million declined 44% year over year. Adjusted operating margin fell 160 bps to 1.4%.
Liquidity
As of Sep 30, Werner had cash and cash equivalents of $42.75 million compared with $46.5 million at the prior-quarter end. Long-term debt (net of current portion) totaled $686.25 million at the end of the reported quarter compared with $636.25 million at the prior-quarter end.
The company generated $74.2 million of cash from operations in third-quarter 2023. Net capital expenditure amounted to $120 million.
In the quarter under review, Werner did not repurchase any shares. As of Sep 30, WERN had 2.3 million shares available under its share repurchase authorization.
Outlook
For 2023, Werner anticipates TTS truck growth to be between (5%) and (3%) (prior view: down 4-2%).
Net capital expenditure is estimated to be in the range of $425-$450 million (prior view: $400-$450 million). Under the TTS guidance, WERN projects dedicated revenues per truck per week growth to rise from breakeven to 3% in 2023.
One-way Truckload revenues per total mile are predicted to decline 9-7% (prior view: 4-7% down). Werner expects the average truck age to be 2.1 years for 2023, while the trailer age is forecasted to be five years. Tax rate for 2023 is anticipated to be in the range of 24-25%.
How Have Estimates Been Moving Since Then?
It turns out, fresh estimates have trended downward during the past month.
The consensus estimate has shifted -25.92% due to these changes.
VGM Scores
Currently, Werner 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 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 broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. It's no surprise Werner has a Zacks Rank #5 (Strong Sell). We expect a below average return from the stock in the next few months.
Performance of an Industry Player
Werner is part of the Zacks Transportation - Truck industry. Over the past month, Knight-Swift Transportation Holdings (KNX), a stock from the same industry, has gained 9.6%. The company reported its results for the quarter ended September 2023 more than a month ago.
Knight-Swift reported revenues of $2.02 billion in the last reported quarter, representing a year-over-year change of +6.5%. EPS of $0.41 for the same period compares with $1.27 a year ago.
Knight-Swift is expected to post earnings of $0.48 per share for the current quarter, representing a year-over-year change of -52%. Over the last 30 days, the Zacks Consensus Estimate has changed -0.9%.
Knight-Swift 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 Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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
Werner Enterprises, Inc. (WERN) : Free Stock Analysis Report
Knight-Swift Transportation Holdings Inc. (KNX) : 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. Under the TTS guidance, WERN projects dedicated revenues per truck per week growth to rise from breakeven to 3% in 2023. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
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Werner's Q3 Earnings Lag Estimates Quarterly earnings per share of 42 cents lagged the Zacks Consensus Estimate of 48 cents and declined 53% on a year-over-year basis. The top line dipped 1% on a year-over-year basis due to a $49.7 million decrease in Truckload Transportation Services (TTS) revenues, partially offset by Logistics revenue growth of $43.1 million. Click to get this free report Werner Enterprises, Inc. (WERN) : Free Stock Analysis Report Knight-Swift Transportation Holdings Inc. (KNX) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Werner's Q3 Earnings Lag Estimates Quarterly earnings per share of 42 cents lagged the Zacks Consensus Estimate of 48 cents and declined 53% on a year-over-year basis. Total revenues of $817.74 million outperformed the Zacks Consensus Estimate of $802.4 million. Click to get this free report Werner Enterprises, Inc. (WERN) : Free Stock Analysis Report Knight-Swift Transportation Holdings Inc. (KNX) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Total revenues of $817.74 million outperformed the Zacks Consensus Estimate of $802.4 million. Adjusted operating income of $3.16 million declined 44% year over year. Outlook For 2023, Werner anticipates TTS truck growth to be between (5%) and (3%) (prior view: down 4-2%).
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27d2893b-0769-4f47-8cfe-123d3a3bf724
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715207.0
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2023-12-01 00:00:00 UTC
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Timken (TKR) Up 2.1% Since Last Earnings Report: Can It Continue?
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DCOMP
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https://www.nasdaq.com/articles/timken-tkr-up-2.1-since-last-earnings-report%3A-can-it-continue
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A month has gone by since the last earnings report for Timken (TKR). Shares have added about 2.1% in that time frame, underperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Timken 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.
Timken Misses Earnings Estimates in Q3, Lowers Guidance
Timken reported adjusted earnings per share of $1.55 in third-quarter 2023, missing the Zacks Consensus Estimate of $1.66. The bottom line fell 4.9% year over year.
On a reported basis, the company delivered earnings of $1.23 per share in the quarter under review compared with $1.18 in the prior-year quarter.
Total revenues in the quarter were $1,143 million, up 0.6% from the year-ago quarter. The upside can be attributed to higher pricing and favorable foreign currency translation, as well as the favorable impacts of acquisitions, partly offset by lower volume. However, the top line missed the Zacks Consensus Estimate of $1,197 million.
Costs and Margins
The cost of sales fell 2% to $787 million from the prior-year quarter. The gross profit increased 6.6% year over year to $356 million. The gross margin was 31.1% compared with 29.3% in the year-ago quarter.
Selling, general and administrative expenses were up 12.4% year over year to $180 million. Operating income increased 13.6% year over year to $150 million. Adjusted EBITDA improved 1% year over year to $216 million in the quarter under review. The adjusted EBITDA margin in the quarter was 18.9% compared with 18.8% in the prior-year quarter.
Segment Performances
The Engineered Bearings segment’s revenues declined 0.5% year over year to $776 million. The decrease was mainly due to lower volumes. These were somewhat offset by higher pricing and the benefits of acquisitions. We expected the segment’s sales to be $827 million in the quarter.
The Engineered Bearings segment’s adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) were $156.7 million compared with the year-ago quarter’s figure of $153.8 million. Our prediction for the segment’s adjusted EBITDA was $166 million. The impacts of lower volume, higher manufacturing costs, unfavorable foreign currency, and higher impairment & restructuring charges were partially offset by lower material & logistics costs, and a favorable price/mix.
The Industrial Motion segment’s revenues rose 2.9% year over year to $367 million in third-quarter 2023. The upside was led by higher pricing, the benefits of acquisitions and a favorable currency translation, partially offset by lower volume. The reported figure missed our estimate of $372 million. The segment’s adjusted EBITDA was $75.2 million in the third quarter of 2023 compared with $68 million in the third quarter of 2022. We projected an adjusted EBITDA of $72.5 million for the third quarter of 2023.
Financial Position
Timken had cash and cash equivalents of $368 million at the end of the third quarter of 2023 compared with $332 million at the end of 2022. Cash flow from operating activities was $194 million in the third quarter of 2023 compared with $145 million in the prior-year quarter. In the quarter, Timken returned $87.3 million of cash to shareholders through dividends and share repurchases.
The long-term debt as of Sep 30, 2023, was $1.6 billion, down from $1.91 billion as of Dec 31, 2022. The net debt to adjusted EBITDA ratio was 2.0 as of Sep 30, 2023, up from the 1.9 reported as of Dec 31, 2022.
2023 Guidance
To reflect softer end-market demand conditions, Timken anticipates adjusted earnings per share between $6.85 and $6.95 for 2023, lower than the previously provided $6.90-$7.30. Revenue growth is projected at 5-5.5%.
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 -12.94% due to these changes.
VGM Scores
At this time, Timken has a nice Growth Score of B, though it is lagging a lot 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 top 40% 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. It's no surprise Timken 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
Timken belongs to the Zacks Metal Products - Procurement and Fabrication industry. Another stock from the same industry, TriMas (TRS), has gained 6.4% over the past month. More than a month has passed since the company reported results for the quarter ended September 2023.
TriMas reported revenues of $235.34 million in the last reported quarter, representing a year-over-year change of +7.7%. EPS of $0.57 for the same period compares with $0.40 a year ago.
TriMas is expected to post earnings of $0.53 per share for the current quarter, representing a year-over-year change of -14.5%. Over the last 30 days, the Zacks Consensus Estimate has changed -2.5%.
TriMas 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 Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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
Timken Company (The) (TKR) : Free Stock Analysis Report
TriMas Corporation (TRS) : 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. The upside was led by higher pricing, the benefits of acquisitions and a favorable currency translation, partially offset by lower volume. 2023 Guidance To reflect softer end-market demand conditions, Timken anticipates adjusted earnings per share between $6.85 and $6.95 for 2023, lower than the previously provided $6.90-$7.30.
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Timken Misses Earnings Estimates in Q3, Lowers Guidance Timken reported adjusted earnings per share of $1.55 in third-quarter 2023, missing the Zacks Consensus Estimate of $1.66. The upside was led by higher pricing, the benefits of acquisitions and a favorable currency translation, partially offset by lower volume. Click to get this free report Timken Company (The) (TKR) : Free Stock Analysis Report TriMas Corporation (TRS) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Timken Misses Earnings Estimates in Q3, Lowers Guidance Timken reported adjusted earnings per share of $1.55 in third-quarter 2023, missing the Zacks Consensus Estimate of $1.66. The Engineered Bearings segment’s adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) were $156.7 million compared with the year-ago quarter’s figure of $153.8 million. The segment’s adjusted EBITDA was $75.2 million in the third quarter of 2023 compared with $68 million in the third quarter of 2022.
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A month has gone by since the last earnings report for Timken (TKR). Timken Misses Earnings Estimates in Q3, Lowers Guidance Timken reported adjusted earnings per share of $1.55 in third-quarter 2023, missing the Zacks Consensus Estimate of $1.66. The Industrial Motion segment’s revenues rose 2.9% year over year to $367 million in third-quarter 2023.
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8ce15d5d-3afb-4788-afec-442e0dfbf52d
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715208.0
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2023-12-01 00:00:00 UTC
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Motorola (MSI) to Boost Airport Communication in Germany
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DCOMP
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https://www.nasdaq.com/articles/motorola-msi-to-boost-airport-communication-in-germany
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Motorola Solutions, Inc. MSI announced that Cologne Bonn Airport has opted to upgrade TETRA (terrestrial trunked radio) digital radio communication infrastructure, leveraging Motorola’s TETRA solution portfolio. TETRA is a vital component in airport communication for its reliability, coverage and efficiency in operations. It also boasts advanced security features owing to user authentication mechanisms.
To modernize the airport’s network infrastructure, Motorola is offering the DIMETRA X Core system, designed to provide mission-critical voice and data communications. Along with enhanced flexibility and security, this system also provides greater scalability, capable of supporting a single site to a network spanning 5000 sites or more. The solution also comes with multi-layered cyber defense features that incorporate regular security updates, operating system patching, anti-virus and more.
The technology also exhibits robust adaptability. With a software-based core, it allows users to augment capacity, launch new features and tailor communication system per the airport’s evolving requirements. The solution also centralized the communication network to bolster administrative efficiency. The capability to prevent single-point failures enhances the resilience of the TETRA network and makes it suitable for any unfavorable circumstances.
In 2022, Bonn Airport witnessed a staggering 8.8 million passengers and 971,000 tons of cargo shipping. Owing to its strategic position, the airport plays a crucial role as a hub for businesses, tourism and economic activities within the region. The smooth functioning of the airport operations is heavily dependent on frontline workers such as logistics partners, ramp agents and baggage handlers.
Ensuring perfect synchronization in this complex spread-out system is a challenging endeavor. The DIMETRA X Core system brings some enticing features like the Inter System Interface to facilitate effective collaboration. It also includes various service and support packages essential for maintaining the system at its peak performance level.
The successful deployment of the technology will ensure full coverage both inside and outside the terminal building, streamlining logistics and cargo management and ensuring premium passenger service.
Motorola is a leading provider of TETRA solutions, boasting 25 years of experience. It has installed approximately 1,000 systems worldwide across multiple industries. The company is leveraging this acquired expertise to augment the capability of its latest DIMETRA solution. Additionally, Motorola also secured a ten-year service contract from Bonn Airport to optimize network operation 24/7. This includes responsibilities for repair, maintenance services and the technological advancement of the network infrastructure.
As a leading provider of mission-critical communication products and services worldwide, Motorola has ensured a steady revenue stream from this niche market. The communications equipment maker intends to boost its position in the public safety domain by entering into strategic alliances with other players in the ecosystem.
The stock has gained 18.4% over the past year against the industry’s decline of 7.2%.
Image Source: Zacks Investment Research
Motorola currently carries a Zacks Rank #3 (Hold).
Stocks to Consider
Model N Inc MODN, sporting a Zacks Rank #1 (Strong Buy), delivered an earnings surprise of 20.78%, on average, in the trailing four quarters. In the last reported quarter, it pulled off an earnings surprise of 3.33%. You can see the complete list of today’s Zacks #1 Rank stocks here.
MODN provides revenue management solutions for life sciences and technology companies, including applications for configuration, price, quote, rebate management and regulatory compliance.
NVIDIA Corporation NVDA, currently sporting a Zacks Rank #1, delivered an earnings surprise of 18.99%, on average, in the trailing four quarters. In the last reported quarter, it pulled off an earnings surprise of 19.64%.
NVIDIA is the worldwide leader in visual computing technologies and the inventor of the graphic processing unit. Over the years, the company’s focus evolved from PC graphics to artificial intelligence-based solutions that support high-performance computing, gaming and virtual reality platforms.
Arista Networks, Inc. ANET, carrying a Zacks Rank #2 (Buy), 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 architecture and enhance their cloud experience. Arista delivered an earnings surprise of 12%, on average, in the trailing four quarters.
ANET holds a leadership position in 100-gigabit Ethernet switching share in port for the high-speed data center segment. Arista is increasingly gaining market traction in 200 and 400-gigabit high-performance switching products and is well-positioned for healthy growth in the data-driven cloud networking business with proactive platforms and predictive operations.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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
NVIDIA Corporation (NVDA) : Free Stock Analysis Report
Motorola Solutions, Inc. (MSI) : Free Stock Analysis Report
Model N, Inc. (MODN) : 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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To modernize the airport’s network infrastructure, Motorola is offering the DIMETRA X Core system, designed to provide mission-critical voice and data communications. Over the years, the company’s focus evolved from PC graphics to artificial intelligence-based solutions that support high-performance computing, gaming and virtual reality platforms. Arista is increasingly gaining market traction in 200 and 400-gigabit high-performance switching products and is well-positioned for healthy growth in the data-driven cloud networking business with proactive platforms and predictive operations.
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Stocks to Consider Model N Inc MODN, sporting a Zacks Rank #1 (Strong Buy), delivered an earnings surprise of 20.78%, on average, in the trailing four quarters. NVIDIA Corporation NVDA, currently sporting a Zacks Rank #1, delivered an earnings surprise of 18.99%, on average, in the trailing four quarters. Click to get this free report NVIDIA Corporation (NVDA) : Free Stock Analysis Report Motorola Solutions, Inc. (MSI) : Free Stock Analysis Report Model N, Inc. (MODN) : 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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Motorola Solutions, Inc. MSI announced that Cologne Bonn Airport has opted to upgrade TETRA (terrestrial trunked radio) digital radio communication infrastructure, leveraging Motorola’s TETRA solution portfolio. To modernize the airport’s network infrastructure, Motorola is offering the DIMETRA X Core system, designed to provide mission-critical voice and data communications. Click to get this free report NVIDIA Corporation (NVDA) : Free Stock Analysis Report Motorola Solutions, Inc. (MSI) : Free Stock Analysis Report Model N, Inc. (MODN) : 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 successful deployment of the technology will ensure full coverage both inside and outside the terminal building, streamlining logistics and cargo management and ensuring premium passenger service. This includes responsibilities for repair, maintenance services and the technological advancement of the network infrastructure. You can see the complete list of today’s Zacks #1 Rank stocks here.
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994de54f-53b6-456a-a504-24f1450e56f6
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715209.0
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2023-12-01 00:00:00 UTC
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CDW (CDW) Up 2% Since Last Earnings Report: Can It Continue?
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DCOMP
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https://www.nasdaq.com/articles/cdw-cdw-up-2-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 CDW (CDW). Shares have added about 2% in that time frame, underperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is CDW 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.
CDW's Q3 Earnings Surpass Estimates
CDW reported third-quarter 2023 non-GAAP earnings per share (EPS) of $2.72, beating the Zacks Consensus Estimate of $2.59. Also, the bottom line rose 4.4% year over year.
The company’s revenues decreased 9.4% year over year to $5.628 billion. Net sales decreased 9.9% at constant currency. The downtick was caused due to weakness across Corporate and Small Business segments. Also, quarterly revenues failed to beat the consensus mark of $5.824 billion.
Quarterly Details
Net sales of CDW’s Corporate segment amounted to $2.227 billion, declining 12.3% on a year-over-year basis.
The Small Business segment’s net sales of $378 million declined 21.7% year over year.
The Public segment’s net sales amounted to $2.422 billion, up 1.5% from the year-ago quarter. Revenues from Education customers rose 2.1%. Revenues from Healthcare increased 2.4%, while revenues from Government customers were flat.
Net sales in Other (Canadian and U.K. operations) declined 15.4% to $601 million.
CDW’s gross profit of $1.228 billion decreased 0.4% on a year-over-year basis. The gross margin expanded 200 basis points (bps) to 21.8% due to a higher product margin.
The non-GAAP operating income increased 1.3% year over year to $556 million. Additionally, the non-GAAP operating margin advanced 110 bps to 9.9%.
Selling and administrative expenses declined 2.3% year over year to $749 million, primarily due to reduced discretionary expenses.
Balance Sheet and Cash Flow
As of Sep 30, 2023, CDW had $440.7 million of cash and cash equivalents compared with $203.9 million as of Jun 30.
The company has a long-term debt of $5.66 billion, lower than $5.72 billion as of Jun 30, 2023.
For the nine months that ended Sep 30, 2023, CDW generated $1,062.2 million of cash flow from operating activities compared with $1,094 million in the year-ago period.
How Have Estimates Been Moving Since Then?
It turns out, fresh estimates flatlined during the past month.
VGM Scores
At this time, CDW has a strong Growth Score of A, 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 A. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
CDW 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
CDW belongs to the Zacks Computers - IT Services industry. Another stock from the same industry, ServiceNow (NOW), has gained 14.4% over the past month. More than a month has passed since the company reported results for the quarter ended September 2023.
ServiceNow reported revenues of $2.29 billion in the last reported quarter, representing a year-over-year change of +25%. EPS of $2.92 for the same period compares with $1.96 a year ago.
For the current quarter, ServiceNow is expected to post earnings of $2.78 per share, indicating a change of +21.9% 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 #2 (Buy) for ServiceNow. Also, the stock has a VGM Score of D.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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
CDW Corporation (CDW) : Free Stock Analysis Report
ServiceNow, Inc. (NOW) : 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. Quarterly Details Net sales of CDW’s Corporate segment amounted to $2.227 billion, declining 12.3% on a year-over-year basis. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
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CDW's Q3 Earnings Surpass Estimates CDW reported third-quarter 2023 non-GAAP earnings per share (EPS) of $2.72, beating the Zacks Consensus Estimate of $2.59. For the nine months that ended Sep 30, 2023, CDW generated $1,062.2 million of cash flow from operating activities compared with $1,094 million in the year-ago period. Click to get this free report CDW Corporation (CDW) : Free Stock Analysis Report ServiceNow, Inc. (NOW) : Free Stock Analysis Report To read this article on Zacks.com click here.
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CDW's Q3 Earnings Surpass Estimates CDW reported third-quarter 2023 non-GAAP earnings per share (EPS) of $2.72, beating the Zacks Consensus Estimate of $2.59. Also, the stock has a VGM Score of D. Zacks Names "Single Best Pick to Double" From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. Click to get this free report CDW Corporation (CDW) : Free Stock Analysis Report ServiceNow, Inc. (NOW) : 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 CDW (CDW). CDW's Q3 Earnings Surpass Estimates CDW reported third-quarter 2023 non-GAAP earnings per share (EPS) of $2.72, beating the Zacks Consensus Estimate of $2.59. The company’s revenues decreased 9.4% year over year to $5.628 billion.
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d0e79463-cf82-4c11-9c14-4e91fdc3efab
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715210.0
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2023-12-01 00:00:00 UTC
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Brinker International (EAT) Up 6.4% Since Last Earnings Report: Can It Continue?
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DCOMP
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https://www.nasdaq.com/articles/brinker-international-eat-up-6.4-since-last-earnings-report%3A-can-it-continue
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nan
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A month has gone by since the last earnings report for Brinker International (EAT). Shares have added about 6.4% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Brinker International 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.
Brinker’s Q1 Earnings & Revenues Outshine Estimates
Brinker International reported first-quarter fiscal 2024 results, with earnings and revenues beating the Zacks Consensus Estimate. The top and bottom lines increased on a year-over-year basis. The upside was primarily driven by improved menu pricing and a favorable menu item mix.
Earnings & Revenue Discussion
In the quarter under review, Brinker reported adjusted earnings per share (EPS) of 28 cents, surpassing the Zacks Consensus Estimate of 3 cents. The company reported an adjusted loss of 57 cents per share in the prior-year quarter.
In the fiscal first quarter, total revenues of $1,012.5 million beat the Zacks Consensus Estimate of $1,007 million. The top line improved 5.6% on a year-over-year basis. EAT gained from solid performance of Chili's.
Chili's
Chili’s revenues in the fiscal first quarter gained 6.4% year over year to $908.1 million. The upside was primarily driven by increased menu pricing and a favorable menu item mix. However, this was partially offset by lower traffic. Our model predicted segmental revenues to rise 5.4% year over year.
Chili's restaurant expenses (as a percentage of company sales) in the fiscal first quarter were 89.4% compared with 94.2% in the prior-year quarter. The downside was caused by sales leverage, menu pricing, favorable commodity mix, lower delivery and off-premise supplies. A rise in advertising expenses and hourly wage rates partially offset this.
Chili's company-owned traffic in the quarter declined 5.8% year over year. The metric fell 4.9% in the prior-year quarter. The segment’s company-owned comps jumped 6.1% in the fiscal first quarter from the year-ago levels. At Chili’s, domestic comps (including company-owned and franchised) rose 6% year over year compared with 3.4% in the prior year.
Maggiano’s
Maggiano’s sales declined 1.1% year over year to $104.4 million due to restaurant closures. This was partially overshadowed by favorable comparable restaurant sales driven by increased menu pricing.
Comps in the segment rose 2.6% year over year. Our projection was 6.9%. Traffic in the quarter fell 5.7% year over year. The metric was up 9.3% in the prior-year quarter.
Maggiano's company restaurant expenses (as a percentage of company sales) in the fiscal first quarter were 91.2% compared with 91.5% a year ago. Menu pricing and favorable commodity costs resulted in this downside.
Operating Results
Total operating costs and expenses were $988.3 million compared with $975.3 million in the year-ago quarter. Adjusted operating margin, as a percentage of company sales, was 10.4% compared with 6% in the prior-year quarter.
Balance Sheet
As of Sep 27, 2023, cash and cash equivalents amounted to $14.4 million compared with $19.5 million as of Sep 28, 2022. As of Sep 27, 2023, long-term debt was $923.9 million compared with $912.2 million as of Jun 28, 2023. Total shareholders’ deficit in the reported quarter was ($156.3) million compared with ($144.3) million in the previous quarter.
Fiscal 2024 Outlook
Management continues to anticipate total revenues in the range of $4.27-$4.35 billion. Capital expenditures are expected in the $175-$195 million band. EAT projects fiscal 2024 EPS in the range of $3.35-$3.65, up from the prior estimate of $3.15-$3.55.
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 6.61% due to these changes.
VGM Scores
At this time, Brinker International has a strong Growth Score of A, though it is lagging a lot on the Momentum Score front 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 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 upward for the stock, and the magnitude of these revisions looks promising. It comes with little surprise Brinker International has a Zacks Rank #1 (Strong Buy). We expect an above average return from the stock in the next few months.
Performance of an Industry Player
Brinker International is part of the Zacks Retail - Restaurants industry. Over the past month, Chipotle Mexican Grill (CMG), a stock from the same industry, has gained 8.2%. The company reported its results for the quarter ended September 2023 more than a month ago.
Chipotle reported revenues of $2.47 billion in the last reported quarter, representing a year-over-year change of +11.3%. EPS of $11.36 for the same period compares with $9.51 a year ago.
For the current quarter, Chipotle is expected to post earnings of $9.60 per share, indicating a change of +15.8% from the year-ago quarter. The Zacks Consensus Estimate has changed +0.2% over the last 30 days.
Chipotle 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 Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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
Chipotle Mexican Grill, Inc. (CMG) : 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. The downside was caused by sales leverage, menu pricing, favorable commodity mix, lower delivery and off-premise supplies. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
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Brinker’s Q1 Earnings & Revenues Outshine Estimates Brinker International reported first-quarter fiscal 2024 results, with earnings and revenues beating the Zacks Consensus Estimate. Earnings & Revenue Discussion In the quarter under review, Brinker reported adjusted earnings per share (EPS) of 28 cents, surpassing the Zacks Consensus Estimate of 3 cents. Click to get this free report Brinker International, Inc. (EAT) : Free Stock Analysis Report Chipotle Mexican Grill, Inc. (CMG) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Brinker’s Q1 Earnings & Revenues Outshine Estimates Brinker International reported first-quarter fiscal 2024 results, with earnings and revenues beating the Zacks Consensus Estimate. Earnings & Revenue Discussion In the quarter under review, Brinker reported adjusted earnings per share (EPS) of 28 cents, surpassing the Zacks Consensus Estimate of 3 cents. Chili's Chili’s revenues in the fiscal first quarter gained 6.4% year over year to $908.1 million.
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A month has gone by since the last earnings report for Brinker International (EAT). Brinker’s Q1 Earnings & Revenues Outshine Estimates Brinker International reported first-quarter fiscal 2024 results, with earnings and revenues beating the Zacks Consensus Estimate. Free: See Our Top Stock and 4 Runners Up >> Want the latest recommendations from Zacks Investment Research?
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1645c713-5c04-43ca-be45-4753a56ad5e5
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715211.0
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2023-12-01 00:00:00 UTC
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Why Is Glaukos (GKOS) Down 0.4% Since Last Earnings Report?
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DCOMP
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https://www.nasdaq.com/articles/why-is-glaukos-gkos-down-0.4-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 Glaukos (GKOS). Shares have lost about 0.4% in that time frame, underperforming the S&P 500.
Will the recent negative trend continue leading up to its next earnings release, or is Glaukos 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.
Glaukos Q3 Earnings Beat Estimates, Revenues Rise Y/Y
Glaukos reported a third-quarter 2023 adjusted loss of 50 cents per share, 10.7% narrower than the Zacks Consensus Estimate of a loss of 56 cents.The figure, however, was wider than the year-ago quarter’s adjusted loss of 45 cents per share.
The GAAP loss per share was 63 cents compared with the prior-year quarter’s reported loss of 58 cents.
Revenue Details
Glaukos registered revenues of $78 million in the third quarter, up 10% year over year on a reported basis and 9% at constant currency. The figure also surpassed the Zacks Consensus Estimate by 3.4%.
Quarter in Detail
The company recorded net sales of $58.3 million and $19.7 million for Glaucoma and Corneal Health, respectively, which were up 9% and 12% year over year.
Margin Trend
Gross profit increased 9.4% to $59.5 million in the reported quarter. The gross margin was flat at 76%.
Selling, general and administrative expenses rose 15.1% to $54.2 million. Research and development expenses totaled $33.3 million, up 15.3% year over year. Total operating expenses were $87.5 million, up 15% from that recorded in the prior-year period.
The operating loss amounted to $28 million compared with $21.6 million in the year-ago period. The adjusted operating loss was $21.8 million, wider than the year-ago quarter’s reported loss of $15.3 million.
Financial Update
Glaukos exited third-quarter 2023 with cash and cash equivalents, and short-term investments of $307 million compared with $310 million at the end of the last reported quarter.
2023 Guidance
The company updated its guidance for 2023 revenues. It expects net sales in the range of $307-$310 million compared with the previously stated $304-$308 million, reflecting improving currency translational rates.
How Have Estimates Been Moving Since Then?
It turns out, estimates review flatlined during the past month.
VGM Scores
At this time, Glaukos has a poor Growth Score of F, 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 fifth 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
Glaukos 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
Glaukos is part of the Zacks Medical - Instruments industry. Over the past month, Integra LifeSciences (IART), a stock from the same industry, has gained 3.7%. The company reported its results for the quarter ended September 2023 more than a month ago.
Integra reported revenues of $382.42 million in the last reported quarter, representing a year-over-year change of -0.7%. EPS of $0.76 for the same period compares with $0.86 a year ago.
Integra is expected to post earnings of $0.90 per share for the current quarter, representing a year-over-year change of -4.3%. Over the last 30 days, the Zacks Consensus Estimate has changed -0.2%.
The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for Integra. Also, the stock has a VGM Score of D.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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
Glaukos Corporation (GKOS) : Free Stock Analysis Report
Integra LifeSciences Holdings Corporation (IART) : 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 negative trend continue leading up to its next earnings release, or is Glaukos 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. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
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Glaukos Q3 Earnings Beat Estimates, Revenues Rise Y/Y Glaukos reported a third-quarter 2023 adjusted loss of 50 cents per share, 10.7% narrower than the Zacks Consensus Estimate of a loss of 56 cents.The figure, however, was wider than the year-ago quarter’s adjusted loss of 45 cents per share. The adjusted operating loss was $21.8 million, wider than the year-ago quarter’s reported loss of $15.3 million. Click to get this free report Glaukos Corporation (GKOS) : Free Stock Analysis Report Integra LifeSciences Holdings Corporation (IART) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Glaukos Q3 Earnings Beat Estimates, Revenues Rise Y/Y Glaukos reported a third-quarter 2023 adjusted loss of 50 cents per share, 10.7% narrower than the Zacks Consensus Estimate of a loss of 56 cents.The figure, however, was wider than the year-ago quarter’s adjusted loss of 45 cents per share. Revenue Details Glaukos registered revenues of $78 million in the third quarter, up 10% year over year on a reported basis and 9% at constant currency. Click to get this free report Glaukos Corporation (GKOS) : Free Stock Analysis Report Integra LifeSciences Holdings Corporation (IART) : 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 Glaukos (GKOS). Glaukos Q3 Earnings Beat Estimates, Revenues Rise Y/Y Glaukos reported a third-quarter 2023 adjusted loss of 50 cents per share, 10.7% narrower than the Zacks Consensus Estimate of a loss of 56 cents.The figure, however, was wider than the year-ago quarter’s adjusted loss of 45 cents per share. Integra reported revenues of $382.42 million in the last reported quarter, representing a year-over-year change of -0.7%.
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e17cc21c-3935-4bc6-8a91-6486a34ae91b
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715212.0
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2023-12-01 00:00:00 UTC
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Royal Gold (RGLD) Up 14.2% Since Last Earnings Report: Can It Continue?
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DCOMP
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https://www.nasdaq.com/articles/royal-gold-rgld-up-14.2-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 Royal Gold (RGLD). Shares have added about 14.2% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Royal Gold 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.
Royal Gold Q3 Earnings Miss Estimates, Increase Y/Y
Royal Gold reported adjusted earnings per share (EPS) of 76 cents in third-quarter 2023, missing the Zacks Consensus Estimate of 79 cents. The bottom line increased 7% year over year.
Including one-time items, the company reported an EPS of 75 cents compared with the prior-year quarter’s 70 cents.
RGLD generated revenues of $139 million, up 5.5% year over year. The upside was driven by higher gold production at the Cortez Legacy Zone, the new Cortez royalties acquired in 2022, and higher gold, silver and copper prices. However, these factors were offset by the suspension of operations at Peñasquito due to a strike.
Stream revenues were $99 million and royalty revenues were $40 million in the September-end quarter. Stream revenues increased 0.3% year over year, whereas royalty revenues increased 21.1%.
The company’s cost of sales was $21 million in the third quarter compared with the prior-year quarter’s $23 million.
General and administrative expenses amounted to $10 million, up 32% year over year. The adjusted EBITDA was $108 million in the reported quarter, up 6.7% year over year. The adjusted EBITDA margin came in at 78% compared with the prior-year quarter’s 77%.
Financial Position
Net cash from operating activities was $98 million in the third quarter compared with the prior-year quarter’s $95 million. Royal Gold ended the quarter with cash and cash equivalents of around $103 million compared with $119 million at the end of 2022.
Outlook
The company expects stream segment sales to come at low-end, or slightly below the previously stated 320,000-345,000 GEOs 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 -10% due to these changes.
VGM Scores
Currently, Royal Gold 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 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 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 this revision indicates a downward shift. It's no surprise Royal Gold 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
Royal Gold belongs to the Zacks Mining - Gold industry. Another stock from the same industry, Agnico Eagle Mines (AEM), has gained 12.8% over the past month. More than a month has passed since the company reported results for the quarter ended September 2023.
Agnico reported revenues of $1.64 billion in the last reported quarter, representing a year-over-year change of +13.3%. EPS of $0.44 for the same period compares with $0.52 a year ago.
Agnico is expected to post earnings of $0.44 per share for the current quarter, representing a year-over-year change of +7.3%. Over the last 30 days, the Zacks Consensus Estimate has changed -1.1%.
The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for Agnico. Also, the stock has a VGM Score of D.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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 Gold, Inc. (RGLD) : Free Stock Analysis Report
Agnico Eagle Mines Limited (AEM) : 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 Royal Gold 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. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
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Royal Gold Q3 Earnings Miss Estimates, Increase Y/Y Royal Gold reported adjusted earnings per share (EPS) of 76 cents in third-quarter 2023, missing the Zacks Consensus Estimate of 79 cents. Stream revenues increased 0.3% year over year, whereas royalty revenues increased 21.1%. Click to get this free report Royal Gold, Inc. (RGLD) : Free Stock Analysis Report Agnico Eagle Mines Limited (AEM) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Royal Gold Q3 Earnings Miss Estimates, Increase Y/Y Royal Gold reported adjusted earnings per share (EPS) of 76 cents in third-quarter 2023, missing the Zacks Consensus Estimate of 79 cents. The adjusted EBITDA was $108 million in the reported quarter, up 6.7% year over year. Click to get this free report Royal Gold, Inc. (RGLD) : Free Stock Analysis Report Agnico Eagle Mines Limited (AEM) : 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 Royal Gold (RGLD). Royal Gold Q3 Earnings Miss Estimates, Increase Y/Y Royal Gold reported adjusted earnings per share (EPS) of 76 cents in third-quarter 2023, missing the Zacks Consensus Estimate of 79 cents. The adjusted EBITDA was $108 million in the reported quarter, up 6.7% year over year.
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e982f80c-aec2-4a8b-9ab2-46206aa305a4
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715213.0
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2023-12-01 00:00:00 UTC
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Service Corp. (SCI) Up 0.8% Since Last Earnings Report: Can It Continue?
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DCOMP
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https://www.nasdaq.com/articles/service-corp.-sci-up-0.8-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 Service Corp. (SCI). Shares have added about 0.8% in that time frame, underperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Service 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 drivers.
Service Corporation Q3 Earnings Beat, Sales Rise Y/Y
Service Corporation posted third-quarter 2023 results. The company posted adjusted earnings of 78 cents per share, surpassing the Zacks Consensus Estimate of 70 cents. The metric increased from 68 cents reported in the year-ago quarter. The upside was driven by increased cemetery revenue coupled with reduced fixed costs. A decline in corporate general and administrative expenses and reduced share count were upsides. However, a rise in interest expenses was a concern.
Total revenues of $1,001.9 million increased from $977.7 million reported in the year-ago quarter. The top line beat the Zacks Consensus Estimate of $978.6 million.
The gross profit increased to $253.7 million from almost $231 million reported in the year-ago quarter. The upside can mainly be attributed to increased recognized cemetery preneed revenue. We expected gross profit to come in at $234.5 million. Corporate general and administrative costs were $33.2 million compared with $41.9 million in the year-ago period. The reduced cost was caused by reduced incentive compensation expenses. The operating income of $223 million increased from $203.4 million reported in the year-ago quarter. We expected operating income to come in at $203 million.
Segment Discussion
Consolidated funeral revenues came in at $554.8 million compared with $554 million reported in the year-ago quarter. We expected funeral revenues to come in at $545.6 million. Total comparable funeral revenues fell 1.3%, mainly due to a fall in core funeral revenues. Core funeral revenues fell 2.2% thanks to a decline in core funeral services performed to the tune of 6.2%. This was somewhat countered by growth in the core average revenue per service of 4.3%.
Comparable preneed funeral sales production grew 4.9%. Further, core preneed sales production grew increased by 1.2%, driven by increased sales averages. Non-funeral home preneed sales production jumped 18.0%. The upside can be attributed to increased sales averages and higher velocity. Comparable funeral gross profit came in at $108.5 million, up $5.8 million. The gross profit margin expanded 130 basis points (bps) to 19.9%, mainly on reduced fixed costs and lower incentive compensation costs.
Consolidated cemetery revenues came in at $447.1 million, up from $423.8 million reported in the year-ago quarter. We expected cemetery revenues to come in at $437.1 million. Comparable cemetery revenues increased 5.2%. The upside was mainly caused by increased core revenues to the tune of $21.4. Comparable preneed cemetery sales production fell 5.9%. The company witnessed lower core production with continued moderation in consumer discretionary spending.
Comparable cemetery gross profit came in at $144.3 million, up $15 million. The gross profit margin expanded 190 bps to 32.4%.
Other Financial Details & Guidance
Service Corporation ended the quarter with cash and cash equivalents of $172.7 million, long-term debt of $4,511.5 million and total equity of $1,630.7 million. Net cash from operating activities amounted to $591.5 million during the nine months ended Sep 30, 2023. During the same period, the company incurred capital expenditures of $267.8 million.
Service Corporation continues to expect 2023 adjusted earnings per share (EPS) in the range of $3.40- $3.60. We note that the company’s earnings came in at $3.80 per share in 2022. Net cash provided by operating activities (excluding special items and cash taxes) is still anticipated in the range of $920-$960 million. Net cash provided by operating activities (excluding special items) is expected in the range of $830-$880 million. Management continues to expect maintenance capital expenditures in the band of $290-$310 million.
How Have Estimates Been Moving Since Then?
It turns out, fresh estimates have trended downward during the past month.
The consensus estimate has shifted -8.04% due to these changes.
VGM Scores
Currently, Service Corp. 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 C on the value side, putting it in the middle 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. It's no surprise Service Corp. has a Zacks Rank #4 (Sell). We expect a below average return from the stock in the next few months.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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
Service Corporation International (SCI) : 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. Net cash provided by operating activities (excluding special items) is expected in the range of $830-$880 million. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
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Service Corporation Q3 Earnings Beat, Sales Rise Y/Y Service Corporation posted third-quarter 2023 results. The company posted adjusted earnings of 78 cents per share, surpassing the Zacks Consensus Estimate of 70 cents. Further, core preneed sales production grew increased by 1.2%, driven by increased sales averages.
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Total revenues of $1,001.9 million increased from $977.7 million reported in the year-ago quarter. Segment Discussion Consolidated funeral revenues came in at $554.8 million compared with $554 million reported in the year-ago quarter. Other Financial Details & Guidance Service Corporation ended the quarter with cash and cash equivalents of $172.7 million, long-term debt of $4,511.5 million and total equity of $1,630.7 million.
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It has been about a month since the last earnings report for Service Corp. (SCI). We note that the company’s earnings came in at $3.80 per share in 2022. Free: See Our Top Stock and 4 Runners Up >> Want the latest recommendations from Zacks Investment Research?
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2fef4269-5667-49d8-8381-ccd36b52a9ba
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715214.0
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2023-12-01 00:00:00 UTC
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CF (CF) Down 6.4% Since Last Earnings Report: Can It Rebound?
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DCOMP
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https://www.nasdaq.com/articles/cf-cf-down-6.4-since-last-earnings-report%3A-can-it-rebound
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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 CF Industries (CF). 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 CF 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.
CF Industries' Q3 Earnings Miss, Lower Prices Hurt Sales
CF Industries logged third-quarter 2023 earnings of 85 cents per share, down from $2.18 in the year-ago quarter. The figure missed the Zacks Consensus Estimate of 94 cents.
Net sales fell around 45% year over year to around $1.27 billion in the quarter, missing the Zacks Consensus Estimate of $1.29 billion. Sales were hurt by lower average selling prices resulting from increased global supply availability as lower global energy costs led to higher operating rates.
Sales volumes rose year over year in the reported quarter on the back of higher urea ammonium nitrate and ammonia sales volumes, partly masked by lower granular urea sales volumes.
Segment Review
Net sales in the Ammonia segment decreased 56% year over year to $235 million in the reported quarter. It was below our estimate of $324 million. Average selling price per product ton was $308, which was below our estimate of $552. Ammonia adjusted gross margin per ton decreased for the first nine months of 2023 from the year-ago period due to lower average selling prices, partly offset by lower realized natural gas prices.
Sales in the Granular Urea segment fell around 48% year over year to $360 million. It was higher than our estimate of $255.9 million. Average selling price per product ton was $339, which lagged our estimate of $352. Granular urea adjusted gross margin per ton decreased for the first nine months of 2023 from the year-ago period mainly due to a decline in average selling prices, partly offset by lower realized natural gas prices.
Sales in the Urea Ammonium Nitrate segment fell around 41% year over year to $435 million. It lagged our estimate of $469 million. Average selling price per product ton was $223, which was below our estimate of $366. Adjusted gross margin per ton decreased for the first nine months of 2023 from the year-ago period mainly due to reduced average selling prices that more than offset a decline in realized natural gas costs.
Sales in the Ammonium Nitrate segment fell around 37% year over year to $114 million. It was lower than our estimate of $116.7 million. Average selling price per product ton was $275, which was below our estimate of $392. Adjusted gross margin per ton decreased for the first nine months of 2023 from the year-ago period due to lower average selling prices, partly offset by the impact of using lower-cost imported ammonia for ammonium nitrate production in the U.K. and reduced realized natural gas prices.
Financials
CF Industries ended the third quarter with cash and cash equivalents of $3.25 billion, up around 1% from the prior quarter. Long-term debt was $2.97 billion at the end of the quarter, flat sequentially.
Net cash provided by operating activities was $618 million in the reported quarter, down around 13% sequentially.
During the third quarter, the company repurchased 1.9 million shares for $150 million.
Outlook
Per the company, the global nitrogen supply-demand balance will continue to be positive owing to robust demand from agricultural and forward energy curves displaying an elevated cost curve. Energy price differences between producers in North America and marginal producers in Europe and Asia continue to be significantly higher than historical levels. These stronger differentials are expected to last for a considerable amount of time, based on forward energy curves. According to the company, there will continue to be considerable margin opportunities for low-cost North American producers on the back of the global nitrogen cost curve. The company also expects demand to remain solid through the end of this year and into 2024, led by India and Brazil.
How Have Estimates Been Moving Since Then?
It turns out, fresh estimates have trended upward during the past month.
VGM Scores
Currently, CF has a nice Growth Score of B, though it is lagging a lot on the Momentum Score front with a D. 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 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 upward for the stock, and the magnitude of these revisions looks promising. Notably, CF has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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
CF Industries Holdings, Inc. (CF) : 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. Adjusted gross margin per ton decreased for the first nine months of 2023 from the year-ago period mainly due to reduced average selling prices that more than offset a decline in realized natural gas costs. According to the company, there will continue to be considerable margin opportunities for low-cost North American producers on the back of the global nitrogen cost curve.
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CF Industries' Q3 Earnings Miss, Lower Prices Hurt Sales CF Industries logged third-quarter 2023 earnings of 85 cents per share, down from $2.18 in the year-ago quarter. Sales volumes rose year over year in the reported quarter on the back of higher urea ammonium nitrate and ammonia sales volumes, partly masked by lower granular urea sales volumes. Ammonia adjusted gross margin per ton decreased for the first nine months of 2023 from the year-ago period due to lower average selling prices, partly offset by lower realized natural gas prices.
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Sales volumes rose year over year in the reported quarter on the back of higher urea ammonium nitrate and ammonia sales volumes, partly masked by lower granular urea sales volumes. Ammonia adjusted gross margin per ton decreased for the first nine months of 2023 from the year-ago period due to lower average selling prices, partly offset by lower realized natural gas prices. Adjusted gross margin per ton decreased for the first nine months of 2023 from the year-ago period due to lower average selling prices, partly offset by the impact of using lower-cost imported ammonia for ammonium nitrate production in the U.K. and reduced realized natural gas prices.
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CF Industries' Q3 Earnings Miss, Lower Prices Hurt Sales CF Industries logged third-quarter 2023 earnings of 85 cents per share, down from $2.18 in the year-ago quarter. It was below our estimate of $324 million. During the third quarter, the company repurchased 1.9 million shares for $150 million.
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fdb948fa-b199-4b5b-9be5-04a6e53dffff
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715215.0
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2023-12-01 00:00:00 UTC
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Why Is Callon (CPE) Down 15.7% Since Last Earnings Report?
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DCOMP
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https://www.nasdaq.com/articles/why-is-callon-cpe-down-15.7-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 Callon Petroleum (CPE). Shares have lost about 15.7% in that time frame, underperforming the S&P 500.
Will the recent negative trend continue leading up to its next earnings release, or is Callon 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 catalysts.
Callon Beats on Q3 Earnings, Revenues Fall Year Over Year
Callon Petroleum Company reported third-quarter 2023 adjusted earnings of $1.82 per share, which beat the Zacks Consensus Estimate of $1.79. However, the bottom line declined from $4.04 reported a year ago.
Operating revenues of $619 million beat the Zacks Consensus Estimate of $573 million. However, the top line declined from the year-ago quarter’s level of $836 million.
Better-than-expected quarterly results were driven by lower total operating expenses. The positives were partially offset by lower realized oil-equivalent prices and production volumes.
Production
In the third quarter, CPE’s net production volume was 101,741 barrels of oil-equivalent per day (Boe/d), down from the year-ago period’s figure of 107,316 Boe/d. Our projection for the same was pinned at 100,617 Boe/d. Production volume increased in the Permian Basin, while the same in Eagle Ford declined year over year. Of the total third-quarter production, 57% was oil.
Callon’s oil production in the quarter totaled 5,338 thousand barrels (MBbls), down from the year-ago level of 6,112 MBbls. Oil volume during the period was negatively impacted by weather-related power and midstream disruptions in August and September and a lower-than-expected oil mix from recent completions in the Delaware West area.
Natural gas production increased to 11,688 million cubic feet (MMcf) from 10,657 MMcf. The figure also beat out estimate of 10,170 MMcf.
Also, natural gas liquids (NGLs) production in the quarter under review totaled 2,075 MBbls, up from the year-ago figure of 1,985 MBbls. The metric was also above our projection of 2,009.7 MBbls.
Price Realizations (Without Cash-Settled Derivative Impacts)
The average realized price per barrel of oil equivalent was $54.50. The figure declined from the year-ago quarter’s level of $73.37 and also came in lower than our estimate of $58.95.
The average realized price for oil was $82.18 per barrel compared with $94.22 a year ago. The average realized price per barrel for NGLs was $22.40, lower than the year-ago level of $34.03. The figure was also lower than our estimate of $23.02.
The average realized price for natural gas was $2.14 per thousand cubic feet, down from $7.60 a year ago.
Total Expenses
Callon’s total operating expenses of $398 million decreased from the year-ago level of $415 million.
Total lease operating costs decreased to $73.5 million from the prior-year figure of $76.1 million. However, the company’s per-unit lease operating expenses increased to $7.85 per barrel of oil equivalent from $7.71 a year ago.
Capital Expenditure & Balance Sheet
The capital expenditure in the reported quarter amounted to $252.4 million. Callon generated an adjusted free cash flow of $48.3 million, significantly down from $147.9 million reported a year ago.
As of Sep 30, 2023, the company’s total cash and cash equivalents amounted to $3.5 million. The long-term debt totaled $1,948.6 million.
Guidance
For the fourth quarter, Callon lowered its estimation for production to the range of 100-103 thousand barrels of oil-equivalent per day (MBoe/d), including oil volumes of 56-59 MBbls/d. The previous projection for the same was in the 104-108 MBoe/d range.
The full-year 2023 total and oil production is now expected to be in the band of 102-104 MBoe/d, including oil volumes of 59-61 MBbls/d. The previous projection for the same was in the 103-106 MBoe/d range.
For 2023, the company’s production and capital expenditure projection remains unchanged in the range of $960-$980 million.
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 -7.8% due to these changes.
VGM Scores
Currently, Callon 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, Callon has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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
Callon Petroleum Company (CPE) : 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. Guidance For the fourth quarter, Callon lowered its estimation for production to the range of 100-103 thousand barrels of oil-equivalent per day (MBoe/d), including oil volumes of 56-59 MBbls/d. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
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Callon Beats on Q3 Earnings, Revenues Fall Year Over Year Callon Petroleum Company reported third-quarter 2023 adjusted earnings of $1.82 per share, which beat the Zacks Consensus Estimate of $1.79. Total Expenses Callon’s total operating expenses of $398 million decreased from the year-ago level of $415 million. Guidance For the fourth quarter, Callon lowered its estimation for production to the range of 100-103 thousand barrels of oil-equivalent per day (MBoe/d), including oil volumes of 56-59 MBbls/d.
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Callon Beats on Q3 Earnings, Revenues Fall Year Over Year Callon Petroleum Company reported third-quarter 2023 adjusted earnings of $1.82 per share, which beat the Zacks Consensus Estimate of $1.79. Total Expenses Callon’s total operating expenses of $398 million decreased from the year-ago level of $415 million. Guidance For the fourth quarter, Callon lowered its estimation for production to the range of 100-103 thousand barrels of oil-equivalent per day (MBoe/d), including oil volumes of 56-59 MBbls/d.
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Callon Beats on Q3 Earnings, Revenues Fall Year Over Year Callon Petroleum Company reported third-quarter 2023 adjusted earnings of $1.82 per share, which beat the Zacks Consensus Estimate of $1.79. However, the company’s per-unit lease operating expenses increased to $7.85 per barrel of oil equivalent from $7.71 a year ago. Guidance For the fourth quarter, Callon lowered its estimation for production to the range of 100-103 thousand barrels of oil-equivalent per day (MBoe/d), including oil volumes of 56-59 MBbls/d.
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5a7044fe-70ed-458d-bd67-a6896fd29f48
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715216.0
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2023-12-01 00:00:00 UTC
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Why Is APA (APA) Down 9.3% Since Last Earnings Report?
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DCOMP
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https://www.nasdaq.com/articles/why-is-apa-apa-down-9.3-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 APA (APA). Shares have lost about 9.3% in that time frame, underperforming the S&P 500.
Will the recent negative trend continue leading up to its next earnings release, or is APA 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.
APA Q3 Earnings & Sales Top Estimates
APA reported third-quarter 2023 adjusted earnings of $1.33 per share, beating the Zacks Consensus Estimate of $1.08. The outperformance primarily reflects strong production.
However, the bottom line dropped from the year-ago adjusted figure of $1.97 due to significantly lower oil and natural gas prices.
Revenues of $2.3 billion beat the Zacks Consensus Estimate of $2 billion but were down 20.1% from the year-ago quarter’s sales.
As promised, the company is using the excess cash to reward shareholders with dividends and buybacks. APA bought back 500,000 shares at $41.90 apiece during the third quarter. The company also shelled out $77 million in dividend payment.
Production & Selling Prices
Production of oil and natural gas averaged 412,252 BOE/d, which comprises 67% liquids. The figure increased 7.9% from the year-ago quarter and was above our expectation of 410,387 BOE/d.
U.S. output (accounting for 55% of the total) rose 3.1% year over year to 225,639 BOE/d, while production from the company’s international operations increased 14.4% to 186,613 BOE/d. APA’s oil and natural gas liquids (NGLs) production was 275,562 barrels per day (Bbl/d). Natural gas output totaled 820,137 thousand cubic feet per day (Mcf/d).
The average realized crude oil price during the third quarter was $86.15 per barrel, down 11.9% from the year-ago realization of $97.81. However, the number came above our projection of $82.79. Meanwhile, the average realized natural gas price fell to $3.12 per thousand cubic feet (Mcf) from $5.62 in the year-ago period but beat our estimates of $2.36.
Costs & Financial Position
APA’s third-quarter lease operating expenses totaled $394 million, up 8.2% from $364 million in the year-ago period. However, a significant decline in the cost of oil and gas purchased meant that total operating expenses fell 13.2% from the corresponding period of 2022 to $1.5 billion. Our model put the figure at slightly over $1.5 billion.
During the quarter under review, APA generated $764 million of cash from operating activities while it incurred $474 million in upstream capital expenditures. The company reported an adjusted operating cash flow of $925 million in the third quarter. It also registered a free cash flow of $307 million during the period, though it plunged from $609 million a year ago.
As of Sep 30, APA had approximately $95 million in cash and cash equivalents and $5.6 billion in long-term debt. The debt-to-capitalization ratio of the company was 72.6.
Guidance
APA expects adjusted production to average 334,000 BOE/d in Q4. Of this, oil volumes are likely to be 161,000 Bbl/d. Meanwhile, the company pegged its upstream capital expenditure for the December quarter at $500 million. APA is committed to returning at least 60% of free cash flow to its shareholders.
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 8.43% due to these changes.
VGM Scores
At this time, APA has an average Growth Score of C, however its Momentum Score is doing a bit better 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 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, APA has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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
APA Corporation (APA) : 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. Meanwhile, the average realized natural gas price fell to $3.12 per thousand cubic feet (Mcf) from $5.62 in the year-ago period but beat our estimates of $2.36. However, a significant decline in the cost of oil and gas purchased meant that total operating expenses fell 13.2% from the corresponding period of 2022 to $1.5 billion.
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APA Q3 Earnings & Sales Top Estimates APA reported third-quarter 2023 adjusted earnings of $1.33 per share, beating the Zacks Consensus Estimate of $1.08. Natural gas output totaled 820,137 thousand cubic feet per day (Mcf/d). Meanwhile, the average realized natural gas price fell to $3.12 per thousand cubic feet (Mcf) from $5.62 in the year-ago period but beat our estimates of $2.36.
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APA Q3 Earnings & Sales Top Estimates APA reported third-quarter 2023 adjusted earnings of $1.33 per share, beating the Zacks Consensus Estimate of $1.08. VGM Scores At this time, APA has an average Growth Score of C, however its Momentum Score is doing a bit better 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 20% for this investment strategy. Click to get this free report APA Corporation (APA) : 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 APA (APA). APA Q3 Earnings & Sales Top Estimates APA reported third-quarter 2023 adjusted earnings of $1.33 per share, beating the Zacks Consensus Estimate of $1.08. The company reported an adjusted operating cash flow of $925 million in the third quarter.
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24f8c893-a992-46df-b7ab-b36b085230b0
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715217.0
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2023-12-01 00:00:00 UTC
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Wall Street Analysts Believe Gates Industrial (GTES) Could Rally 28.79%: Here's is How to Trade
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DCOMP
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https://www.nasdaq.com/articles/wall-street-analysts-believe-gates-industrial-gtes-could-rally-28.79%3A-heres-is-how-to
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nan
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nan
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Shares of Gates Industrial (GTES) have gained 10.2% over the past four weeks to close the last trading session at $12.26, but there could still be a solid upside left in the stock if short-term price targets of Wall Street analysts are any indication. Going by the price targets, the mean estimate of $15.79 indicates a potential upside of 28.8%.
The average comprises seven short-term price targets ranging from a low of $14 to a high of $18, with a standard deviation of $1.82. While the lowest estimate indicates an increase of 14.2% from the current price level, the most optimistic estimate points to a 46.8% upside. More than the range, one should note the standard deviation here, as it helps understand the variability of the estimates. The smaller the standard deviation, the greater the agreement among analysts.
While the consensus price target is highly sought after by investors, the ability and unbiasedness of analysts in setting price targets have long been questionable. And investors making investment decisions solely based on this tool would arguably do themselves a disservice.
But, for GTES, an impressive average price target is not the only indicator of a potential upside. Strong agreement among analysts about the company's ability to report better earnings than they predicted earlier strengthens this view. While a positive trend in earnings estimate revisions doesn't gauge how much a stock could gain, it has proven to be powerful in predicting an upside.
Here's What You Should Know About Analysts' Price Targets
According to researchers at several universities across the globe, a price target is one of many pieces of information about a stock that misleads investors far more often than it guides. In fact, empirical research shows that price targets set by several analysts, irrespective of the extent of agreement, rarely indicate where the price of a stock could actually be heading.
While Wall Street analysts have deep knowledge of a company's fundamentals and the sensitivity of its business to economic and industry issues, many of them tend to set overly optimistic price targets. Are you wondering why?
They usually do that to drum up interest in shares of companies that their firms either have existing business relationships with or are looking to be associated with. In other words, business incentives of firms covering a stock often result in inflated price targets set by analysts.
However, a tight clustering of price targets, which is represented by a low standard deviation, indicates that analysts have a high degree of agreement about the direction and magnitude of a stock's price movement. While that doesn't necessarily mean the stock will hit the average price target, it could be a good starting point for further research aimed at identifying the potential fundamental driving forces.
That said, while investors should not entirely ignore price targets, making an investment decision solely based on them could lead to disappointing ROI. So, price targets should always be treated with a high degree of skepticism.
Why GTES Could Witness a Solid Upside
There has been increasing optimism among analysts lately about the company's earnings prospects, as indicated by strong agreement among them in revising EPS estimates higher. And that could be a legitimate reason to expect an upside in the stock. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
The Zacks Consensus Estimate for the current year has increased 7.2% over the past month, as one estimate has gone higher compared to no negative revision.
Moreover, GTES currently has a Zacks Rank #1 (Strong Buy), which means it is in the top 5% of more than the 4,000 stocks that we rank based on four factors related to earnings estimates. Given an impressive externally-audited track record, this is a more conclusive indication of the stock's potential upside in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Therefore, while the consensus price target may not be a reliable indicator of how much GTES could gain, the direction of price movement it implies does appear to be a good guide.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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
Gates Industrial Corporation PLC (GTES) : 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 Gates Industrial (GTES) have gained 10.2% over the past four weeks to close the last trading session at $12.26, but there could still be a solid upside left in the stock if short-term price targets of Wall Street analysts are any indication. While Wall Street analysts have deep knowledge of a company's fundamentals and the sensitivity of its business to economic and industry issues, many of them tend to set overly optimistic price targets. While that doesn't necessarily mean the stock will hit the average price target, it could be a good starting point for further research aimed at identifying the potential fundamental driving forces.
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And investors making investment decisions solely based on this tool would arguably do themselves a disservice. That said, while investors should not entirely ignore price targets, making an investment decision solely based on them could lead to disappointing ROI. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
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Here's What You Should Know About Analysts' Price Targets According to researchers at several universities across the globe, a price target is one of many pieces of information about a stock that misleads investors far more often than it guides. However, a tight clustering of price targets, which is represented by a low standard deviation, indicates that analysts have a high degree of agreement about the direction and magnitude of a stock's price movement. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> Therefore, while the consensus price target may not be a reliable indicator of how much GTES could gain, the direction of price movement it implies does appear to be a good guide.
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Going by the price targets, the mean estimate of $15.79 indicates a potential upside of 28.8%. Why GTES Could Witness a Solid Upside There has been increasing optimism among analysts lately about the company's earnings prospects, as indicated by strong agreement among them in revising EPS estimates higher. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> Therefore, while the consensus price target may not be a reliable indicator of how much GTES could gain, the direction of price movement it implies does appear to be a good guide.
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f025fb77-12e7-44ce-8638-a9890970bff8
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715218.0
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2023-12-01 00:00:00 UTC
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Why Is PTC Inc. (PTC) Up 7.6% Since Last Earnings Report?
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DCOMP
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https://www.nasdaq.com/articles/why-is-ptc-inc.-ptc-up-7.6-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 PTC Inc. (PTC). Shares have added about 7.6% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is PTC Inc. 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.
PTC's Q4 Earnings Beat Estimates
PTC reported fourth-quarter fiscal 2023 non-GAAP earnings per share (EPS) of $1.2, down 5% on a year-over-year basis. However, the figure surpassed the Zacks Consensus Estimate by 5.3%.
Revenues came in at $547 million, up 8% year over year (up 6% at constant currency or cc). The top line missed the Zacks Consensus Estimate by 2.3%.
The year-over-year improvement in the top line was driven by steady demand for its product lifecycle management (PLM). Continued momentum in Onshape and Arena will further assist the company in the SaaS transition.
Top Line in Detail
Recurring revenues of $500.2 million rose 8% year over year. Perpetual licenses increased 4.7% to $8.2 million.
Revenues by License, Support and Services
License revenues (33.7% of total revenues) were $184.3 million, down 16.2% from the year-ago quarter’s figure.
Support and cloud services revenues (59.3%) of $324.1 million increased 29.1% year over year.
Professional services revenues (7%) were $38.1 million, up 3.3% year over year.
Revenues by Product Group
PLM and CAD businesses continue to witness healthy growth. In the fiscal fourth quarter, PLM revenues were $358 million, rising 17% year over year. CAD revenues were $189 million, down 7% year over year.
ARR Performance
Annualized recurring revenues (ARR) were $1.979 billion, up 26% year over year (up 23% at cc). The uptick was driven by strong performance across all divisions and geographies.
In the fiscal fourth quarter, PLM and CAD ARR were $1,188 million and $752 million, rising 36% and 12% year over year, respectively.
Operating Details
Non-GAAP gross margin decreased 170 basis points (bps) on a year-over-year basis to 81.6%.
Total operating expenses increased $43.2 million year over year to $309.6 million.
Operating income on a non-GAAP basis decreased 1.5% year over year to $201 million.
Operating margin on a non-GAAP basis decreased 350 bps on a year-over-year basis to 37%.
Balance Sheet & Cash Flow
As of Sep 30, 2023, cash, cash equivalents and marketable securities were $288.1 million compared with $281.5 million as of Jun 30, 2023.
Total debt, net of deferred issuance costs, was $1.695 billion as of Sep 30, 2023, compared with $1.738 billion as of Jun 30, 2023.
Cash provided by operating activities was $49.7 million compared with the prior-year quarter’s figure of $38.5 million.
The free cash flow was $44 million compared with $29 million reported in the year-ago quarter.
Fiscal 2024 Guidance
For fiscal 2024, ARR is expected to be $2.190-$2.250 billion, which indicates a rise of 11-14% year over year at cc.
Revenues for fiscal 2024 are projected in the range of $2.270-$2.360 billion, indicating a rise of 8-13% year over year.
For fiscal 2024, cash from operations is projected to be $745 million, indicating a rise of 22% on a year-over-year basis. The free cash flow is forecasted to be $725 million, suggesting a 23% increase year over year.
For the fiscal first quarter, PTC expects ARR between $1.995 and $2.010 billion. Cash from operations is projected to be $185 million, and free cash flow is forecasted to be $180 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 -31.02% due to these changes.
VGM Scores
Currently, PTC Inc. has a subpar Growth Score of D, though it is lagging a bit 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, PTC Inc. 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
PTC Inc. is part of the Zacks Computer - Software industry. Over the past month, Blackbaud (BLKB), a stock from the same industry, has gained 5.3%. The company reported its results for the quarter ended September 2023 more than a month ago.
Blackbaud reported revenues of $277.63 million in the last reported quarter, representing a year-over-year change of +6.3%. EPS of $1.12 for the same period compares with $0.69 a year ago.
For the current quarter, Blackbaud is expected to post earnings of $1.08 per share, indicating a change of +58.8% from the year-ago quarter. The Zacks Consensus Estimate remained unchanged over the last 30 days.
Blackbaud 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 Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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
PTC Inc. (PTC) : Free Stock Analysis Report
Blackbaud, Inc. (BLKB) : 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 year-over-year improvement in the top line was driven by steady demand for its product lifecycle management (PLM). With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
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PTC's Q4 Earnings Beat Estimates PTC reported fourth-quarter fiscal 2023 non-GAAP earnings per share (EPS) of $1.2, down 5% on a year-over-year basis. In the fiscal fourth quarter, PLM and CAD ARR were $1,188 million and $752 million, rising 36% and 12% year over year, respectively. Click to get this free report PTC Inc. (PTC) : Free Stock Analysis Report Blackbaud, Inc. (BLKB) : Free Stock Analysis Report To read this article on Zacks.com click here.
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In the fiscal fourth quarter, PLM revenues were $358 million, rising 17% year over year. In the fiscal fourth quarter, PLM and CAD ARR were $1,188 million and $752 million, rising 36% and 12% year over year, respectively. Click to get this free report PTC Inc. (PTC) : Free Stock Analysis Report Blackbaud, Inc. (BLKB) : 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 PTC Inc. (PTC). PTC's Q4 Earnings Beat Estimates PTC reported fourth-quarter fiscal 2023 non-GAAP earnings per share (EPS) of $1.2, down 5% on a year-over-year basis. In the fiscal fourth quarter, PLM revenues were $358 million, rising 17% year over year.
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fa2732a7-5f9f-4c76-aa1a-43a23d6855fc
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715219.0
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2023-12-01 00:00:00 UTC
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Why Is Humana (HUM) Up 0.7% Since Last Earnings Report?
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DCOMP
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https://www.nasdaq.com/articles/why-is-humana-hum-up-0.7-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 Humana (HUM). Shares have added about 0.7% in that time frame, underperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Humana 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.
Humana Q3 Earnings Beat on Strong Individual MA Unit
Humana delivered robust results in the third quarter of 2023, driven by strong premium growth, increased investment income and an improved operating cost ratio. The company's solid performance in the individual Medicare Advantage business, along with premium growth, played a significant role in these positive results. However, the increase in benefits expenses partially offset these gains.
It posted adjusted earnings per share (EPS) of $7.78, surpassing the Zacks Consensus Estimate by 8.8%. This represents 6.4% year-over-year growth in the bottom line.
Humana's adjusted revenues also saw substantial growth, rising 18.2% compared with the previous year, reaching $25.5 billion. Additionally, the top line exceeded the consensus estimate by 0.6%.
Operational Update
Total premiums of Humana amounted to $25.1 billion, which improved 16.9% year over year in the third quarter and outpaced the Zacks Consensus Estimate by 3%.
Services revenues declined 12.3% year over year to $1 billion but beat our estimate of 3.5%. Investment income of $308 million increased 79.1% year over year in the quarter under review and beat our model estimate of $298.7 million.
The benefits expense ratio came in at 86.6%, which deteriorated 100 basis points (bps) year over year due to investments related to the benefit design of Humana’s products, as well as increased utilization trends in the Medicare Advantage business. The operating cost ratio improved 100 bps year over year to 12.5%, thanks to the divestiture of the 60% ownership interest of Humana in the Gentiva Hospice business, improving scale and cost efficiencies.
Total operating expenses of $25.2 billion increased 16.6% year over year and came higher than our model estimate of $24.7 billion. The increase was mainly due to higher overall benefits expense and operating costs.
Humana reported income from operations of $1.2 billion in the third quarter, which climbed 2.9% year over year but lagged our estimate of $1.3 billion.
Segmental Update
Insurance
The segment’s adjusted revenues rose 19.5% year over year to $24.6 billion in the quarter under review, higher than our estimate of $24.3 billion.
Adjusted operating income of $794 million decreased from $955 million and fell short of our expectations. The adjusted benefits expense ratio deteriorated 190 bps year over year to 87.4%. The adjusted operating cost ratio of 9.9% improved 20 bps year over year due to scale efficiencies related to individual Medicare Advantage membership growth and administrative cost efficiencies.
As of Sep 30, 2023, the total medical membership of the segment came in at 16.96 million. The figure dipped 0.8% year over year.
CenterWell
The segment recorded revenues of $4.7 billion in the third quarter, which inched up from $4.3 billion and beat our estimate of $4.5 billion. Improved Pharmacy Solutions revenues, growth in the Primary Care business and a solid Home Solutions business provided an impetus to the segment's quarterly performance.
Adjusted operating income increased 31.3% year over year to $453 million. The segment’s operating cost ratio of 90.3% improved 170 bps year over year in the quarter under review.
Financial Update (as of Sep 30, 2023)
Humana exited the third quarter with cash and cash equivalents of $15.1 billion, which surged from the $5.1 billion figure at 2022 end. Total assets of $55.9 billion climbed from the 2022-end level of $43.1 billion.
Long-term debt amounted to $9.5 billion, which increased from the $9 billion figure as of Dec 31, 2022. Short-term debt came in at $2.2 billion. Debt to capitalization improved 90 bps year over year to 41.1% at the third-quarter end.
Total stockholders’ equity of $16.9 billion increased from the $15.3 billion figure at 2022 end.
In the first nine months of 2023, Humana generated operating cash flows of $11.1 billion, which increased from the prior-year comparable period’s $9.7 billion.
Capital Deployment Update
Humana bought back shares worth $1 billion in the first nine months of 2023. It had a leftover share repurchase capacity of $1.9 billion as of Oct 31, 2023. Humana announced a dividend of 88.5 cents per share, which will be paid on Jan 26, 2024, to shareholders of record as of Dec 29, 2023.
Outlook
Adjusted EPS continues to be projected at a minimum of $28.25, which suggests growth from the 2022 figure of $25.88. However, GAAP EPS is presently estimated to be a minimum of $26.31, down from the previous guidance of at least $26.91. Humana remains optimistic about attaining its target of adjusted EPS of $37 in 2025.
Management currently projects individual Medicare Advantage membership to witness growth of around 860,000 this year, up 19% from the 2022 level. Group Medicare Advantage membership is still expected to decrease by around 60,000. Membership from the Medicare stand-alone prescription drug plan is estimated to decline by around 700,000 members.
Revenues are reaffirmed to stay within $104.4-$106.4 billion, the midpoint of which indicates an improvement of 13.5% from the 2022 figure. The Insurance segment’s GAAP revenues continue to be forecasted between $101.2 billion and $102.7 billion. Revenues of the CenterWell segment, on a GAAP basis, continue to be expected within $18-$18.5 billion.
The benefit ratio of the Insurance unit is expected to stay around 87.5% for 2023. The consolidated Non-GAAP operating cost ratio is still anticipated to lie between 11.3% and 12.3%.
Cash flow from operations is reaffirmed at around $4.5 billion this year. Meanwhile, capital expenditures are projected to be roughly $1 billion.
How Have Estimates Been Moving Since Then?
It turns out, estimates revision have trended downward during the past month.
The consensus estimate has shifted -24.11% due to these changes.
VGM Scores
Currently, Humana 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 these revisions indicates a downward shift. Notably, Humana 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
Humana is part of the Zacks Medical - HMOs industry. Over the past month, Molina (MOH), a stock from the same industry, has gained 8.3%. The company reported its results for the quarter ended September 2023 more than a month ago.
Molina reported revenues of $8.55 billion in the last reported quarter, representing a year-over-year change of +7.8%. EPS of $5.05 for the same period compares with $4.36 a year ago.
For the current quarter, Molina is expected to post earnings of $4.31 per share, indicating a change of +5.1% from the year-ago quarter. The Zacks Consensus Estimate has changed -1.7% over the last 30 days.
The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for Molina. Also, the stock has a VGM Score of A.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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
Humana Inc. (HUM) : Free Stock Analysis Report
Molina Healthcare, Inc (MOH) : 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. The company's solid performance in the individual Medicare Advantage business, along with premium growth, played a significant role in these positive results. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
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Humana Q3 Earnings Beat on Strong Individual MA Unit Humana delivered robust results in the third quarter of 2023, driven by strong premium growth, increased investment income and an improved operating cost ratio. The adjusted operating cost ratio of 9.9% improved 20 bps year over year due to scale efficiencies related to individual Medicare Advantage membership growth and administrative cost efficiencies. Click to get this free report Humana Inc. (HUM) : Free Stock Analysis Report Molina Healthcare, Inc (MOH) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Operational Update Total premiums of Humana amounted to $25.1 billion, which improved 16.9% year over year in the third quarter and outpaced the Zacks Consensus Estimate by 3%. Humana reported income from operations of $1.2 billion in the third quarter, which climbed 2.9% year over year but lagged our estimate of $1.3 billion. Segmental Update Insurance The segment’s adjusted revenues rose 19.5% year over year to $24.6 billion in the quarter under review, higher than our estimate of $24.3 billion.
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Operational Update Total premiums of Humana amounted to $25.1 billion, which improved 16.9% year over year in the third quarter and outpaced the Zacks Consensus Estimate by 3%. Humana reported income from operations of $1.2 billion in the third quarter, which climbed 2.9% year over year but lagged our estimate of $1.3 billion. CenterWell The segment recorded revenues of $4.7 billion in the third quarter, which inched up from $4.3 billion and beat our estimate of $4.5 billion.
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52c5e3f0-26f9-4a21-b715-b61da575f9e5
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715220.0
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2023-12-01 00:00:00 UTC
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Why Is The Manitowoc Company, Inc. (MTW) Up 5.7% Since Last Earnings Report?
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DCOMP
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https://www.nasdaq.com/articles/why-is-the-manitowoc-company-inc.-mtw-up-5.7-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 The Manitowoc Company, Inc. (MTW). Shares have added about 5.7% in that time frame, underperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is The Manitowoc Company, Inc. 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.
Manitowoc Q3 Earnings & Revenues Top Estimates, Rise Y/Y
Manitowoc reported adjusted earnings per share (EPS) of 22 cents in third-quarter 2023, beating the Zacks Consensus Estimate of a loss of 1 cent per share. Compared with EPS of 10 cents in the third quarter of 2022, earnings in the quarter under review marked a substantial improvement of 120%.
Including one-time items, the company reported an EPS of 29 cents in the third quarter of 2023 compared with the year-ago quarter’s EPS of 7 cents.
Manitowoc’s revenues were up 14.6% year over year to $521 million in the quarter under review. The top line surpassed the Zacks Consensus Estimate of $469 million. Favorable changes in foreign currency translation rates had an impact of $14.5 million on sales. Sales of non-new machine sales increased 21.2% year over year to $154.7 million.
Orders in the reported quarter increased 12.5% year over year to $531 million. The backlog at the end of the quarter was $1,028 million, which increased 0.3% from the second quarter of 2023.
Operational Update
The cost of sales moved up 11.5% year over year to $424 million in the reported quarter. The gross profit was up 30% year over year to $97 million. The gross margin was 18.6% in the reported quarter compared with 16.3% in the prior-year quarter.
Engineering, selling and administrative expenses increased 18% year over year to $77.4 million. Total adjusted operating costs and expenses were $78 million in the quarter.
Adjusted operating income was $18.9 million in the quarter, up from $8.7 million in the year-ago quarter. Adjusted EBITDA in the reported quarter was $33.3 million compared with $24 million in the prior-year quarter. The adjusted EBITDA margin rose to 6.4% from the year-ago quarter’s 5.3%.
Cash Position & Balance Sheet
Manitowoc reported cash and cash equivalents of $40 million at the end of the third quarter of 2023, down from $64 million at 2022 end. The long-term debt was $368.5 million at the end of the quarter under review, down from $380 million at 2022 end.
The company generated $26.3 million in cash in operating activities in the third quarter of 2023 against a cash outflow of $6.2 million in the third quarter of 2023.
On Oct 31, 2023, MTW’s Board of Directors authorized a new share repurchase program of up to $35 million of the company’s common shares. This program has no expiration date and replaces the authorization under the previous program.
Outlook
Backed by the solid performance in the first three quarters of the year, Manitowoc expects revenues of $2.175-$2.225 billion for 2023, up from the previously stated $2.1-$2.2 billion. Adjusted EBITDA is anticipated to be between $160 million and $180 million, up from the $150-$180 million mentioned earlier.
How Have Estimates Been Moving Since Then?
It turns out, estimates revision have trended downward during the past month.
The consensus estimate has shifted -37.06% due to these changes.
VGM Scores
Currently, The Manitowoc Company, Inc. 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 downward for the stock, and the magnitude of these revisions indicates a downward shift. Notably, The Manitowoc Company, Inc. 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
The Manitowoc Company, Inc. belongs to the Zacks Manufacturing - Construction and Mining industry. Another stock from the same industry, Terex (TEX), has gained 0.9% over the past month. More than a month has passed since the company reported results for the quarter ended September 2023.
Terex reported revenues of $1.29 billion in the last reported quarter, representing a year-over-year change of +15.1%. EPS of $1.75 for the same period compares with $1.20 a year ago.
For the current quarter, Terex is expected to post earnings of $1.40 per share, indicating a change of +4.5% from the year-ago quarter. The Zacks Consensus Estimate has changed -0.8% over the last 30 days.
Terex 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 Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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 Manitowoc Company, Inc. (MTW) : Free Stock Analysis Report
Terex Corporation (TEX) : 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 The Manitowoc Company, Inc. 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. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
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Manitowoc Q3 Earnings & Revenues Top Estimates, Rise Y/Y Manitowoc reported adjusted earnings per share (EPS) of 22 cents in third-quarter 2023, beating the Zacks Consensus Estimate of a loss of 1 cent per share. Adjusted EBITDA in the reported quarter was $33.3 million compared with $24 million in the prior-year quarter. Click to get this free report The Manitowoc Company, Inc. (MTW) : Free Stock Analysis Report Terex Corporation (TEX) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Manitowoc Q3 Earnings & Revenues Top Estimates, Rise Y/Y Manitowoc reported adjusted earnings per share (EPS) of 22 cents in third-quarter 2023, beating the Zacks Consensus Estimate of a loss of 1 cent per share. Adjusted EBITDA in the reported quarter was $33.3 million compared with $24 million in the prior-year quarter. Click to get this free report The Manitowoc Company, Inc. (MTW) : Free Stock Analysis Report Terex Corporation (TEX) : 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 The Manitowoc Company, Inc. (MTW). Manitowoc Q3 Earnings & Revenues Top Estimates, Rise Y/Y Manitowoc reported adjusted earnings per share (EPS) of 22 cents in third-quarter 2023, beating the Zacks Consensus Estimate of a loss of 1 cent per share. On Oct 31, 2023, MTW’s Board of Directors authorized a new share repurchase program of up to $35 million of the company’s common shares.
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ec668a26-bc0f-4137-ae38-38f353ed4ec8
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715221.0
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2023-12-01 00:00:00 UTC
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Nevro (NVRO) Up 15.7% Since Last Earnings Report: Can It Continue?
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DCOMP
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https://www.nasdaq.com/articles/nevro-nvro-up-15.7-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 Nevro (NVRO). Shares have added about 15.7% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Nevro 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.
Nevro Q3 Earnings Top Estimates, FY23 Revenue View Up
Nevro reported a loss per share of 65 cents for the third quarter of 2023, against the year-ago quarter’s earnings per share of $2.22. However, the loss per share was narrower than the Zacks Consensus Estimate of a loss of 77 cents.
Revenues in Detail
Nevro registered worldwide revenues of $103.9 million in the third quarter, up 3.4% year over year on a reported basis. The figure topped the Zacks Consensus Estimate by 7.8%.
At constant exchange rate (CER), revenues were up 3% year over year.
PDN indication sales represented approximately $20.8 million (20%) of worldwide permanent implant procedures and increased 56% year over year.
Quarterly Highlights
In the quarter under review, international revenues were $14.1 million, down 1.4% year over year on a reported basis and 6% at CER.
U.S. revenues for the quarter totaled $89.8 million, up 4.3% year over year.
Total U.S. permanent implant procedures increased 7%, while U.S. trial procedures increased 4%. U.S. PDN trial procedures, representing approximately 24% of total U.S. trial volume, jumped 41% from the prior-year quarter.
Margin Trend
In the quarter under review, Nevro’s gross profit rose 0.3% to $69.5 million. However, the gross margin contracted 205 basis points to 66.9%.
Sales, general & administrative expenses increased 3.8% to $81.2 million. R&D expenses decreased 0.8% year over year to $13.9 million. Total adjusted operating expenses of $95.1 million increased 3.1% year over year.
The total adjusted operating loss in the reported quarter totaled $25.6 million compared with a total adjusted operating loss of $22.9 million in the year-ago quarter.
Financial Position
Nevro exited the third quarter of 2023 with cash and cash equivalents and short-term investments of $320.3 million compared with $329.9 million at the end of the second quarter. Long-term debt at the end of third-quarter 2023 was $187.8 million compared with $187.5 million at the second-quarter end.
As of Sep 30, 2023, 36,869,962 shares were issued and 36,187,046 shares were outstanding.
Cumulative net cash used in operating activities at the end of third-quarter 2023 was $49.9 million compared with cumulative net cash provided by operating activities of $38.1 million a year ago.
Guidance
Nevro has provided its financial outlook for the fourth quarter and raised its financial outlook for 2023.
For the fourth quarter, Nevro expects its worldwide revenues to be in the range of $108 million-$110 million, reflecting a decline of 4-6% year over year at CER. The Zacks Consensus Estimate is pegged at $110.9 million.
The company now expects its 2023 worldwide revenues in the range of $417 million-$419 million, reflecting growth of 3% from the comparable figure of 2022 both on a reported basis and at CER. This is up from the prior outlook of $410 million-$415 million, reflecting growth of 1-2% from the comparable figure of 2022 both on a reported basis and at CER. The Zacks Consensus Estimate is pegged at $412.4 million.
How Have Estimates Been Moving Since Then?
It turns out, estimates revision have trended upward during the past month.
The consensus estimate has shifted 11.32% due to these changes.
VGM Scores
Currently, Nevro has a great Growth Score of A, though it is lagging a lot on the Momentum Score front with a D. However, 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 broadly trending upward for the stock, and the magnitude of these revisions looks promising. It comes with little surprise Nevro 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
Nevro belongs to the Zacks Medical - Instruments industry. Another stock from the same industry, DexCom (DXCM), has gained 23.3% over the past month. More than a month has passed since the company reported results for the quarter ended September 2023.
DexCom reported revenues of $975 million in the last reported quarter, representing a year-over-year change of +26.7%. EPS of $0.50 for the same period compares with $0.28 a year ago.
For the current quarter, DexCom is expected to post earnings of $0.42 per share, indicating a change of +23.5% 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 #2 (Buy) for DexCom. Also, the stock has a VGM Score of B.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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
Nevro Corp. (NVRO) : Free Stock Analysis Report
DexCom, Inc. (DXCM) : 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 company now expects its 2023 worldwide revenues in the range of $417 million-$419 million, reflecting growth of 3% from the comparable figure of 2022 both on a reported basis and at CER. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
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The total adjusted operating loss in the reported quarter totaled $25.6 million compared with a total adjusted operating loss of $22.9 million in the year-ago quarter. Cumulative net cash used in operating activities at the end of third-quarter 2023 was $49.9 million compared with cumulative net cash provided by operating activities of $38.1 million a year ago. Click to get this free report Nevro Corp. (NVRO) : Free Stock Analysis Report DexCom, Inc. (DXCM) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Nevro Q3 Earnings Top Estimates, FY23 Revenue View Up Nevro reported a loss per share of 65 cents for the third quarter of 2023, against the year-ago quarter’s earnings per share of $2.22. Revenues in Detail Nevro registered worldwide revenues of $103.9 million in the third quarter, up 3.4% year over year on a reported basis. The total adjusted operating loss in the reported quarter totaled $25.6 million compared with a total adjusted operating loss of $22.9 million in the year-ago quarter.
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Nevro Q3 Earnings Top Estimates, FY23 Revenue View Up Nevro reported a loss per share of 65 cents for the third quarter of 2023, against the year-ago quarter’s earnings per share of $2.22. U.S. revenues for the quarter totaled $89.8 million, up 4.3% year over year. Free: See Our Top Stock and 4 Runners Up >> Want the latest recommendations from Zacks Investment Research?
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361befbd-4f24-4957-8c46-1f013e4592a1
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715222.0
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2023-12-01 00:00:00 UTC
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Why Is Avis Budget (CAR) Down 2.2% Since Last Earnings Report?
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DCOMP
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https://www.nasdaq.com/articles/why-is-avis-budget-car-down-2.2-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 Avis Budget Group (CAR). Shares have lost about 2.2% in that time frame, underperforming the S&P 500.
Will the recent negative trend continue leading up to its next earnings release, or is Avis Budget 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.
Avis Budget Surpasses Q3 Earnings Estimates
Avis Budget Group reported mixed third-quarter 2023 results, wherein earnings surpassed the Zacks Consensus Estimate but revenues missed the same.
Adjusted earnings of $16.78 per share beat the consensus estimate by 15.4% but plunged 22.7% year over year. Total revenues of $3.56 billion missed the consensus estimate by 0.3% but increased 0.5% year over year.
Segmental Revenues
The Americas segment’s revenues of $2.74 billion increased 1% year over year. The figure missed our estimate of $2.78 billion. The International segment’s revenues of $828 million beat our estimate of $780.3 million but declined 2% year over year.
Profitability
Adjusted EBITDA was $907 million, down 38% year over year. Adjusted EBITDA margin was 25.5% compared with 41.2% in the year-ago quarter. Adjusted EBITDA for the Americas segment was $740 million, down 38% year over year. Internationally, adjusted EBITDA was $196 million, 33% lower than the year-ago figure.
Balance Sheet and Cash Flow
Avis Budget exited third-quarter 2023 with cash and cash equivalents of $572 million compared with $571 million at the end of the previous quarter. Corporate debt was $4.77 billion compared with $4.7 billion at the end of the previous quarter. CAR generated $1.25 billion in net cash from operating activities in the reported quarter. Adjusted free cash flow was $416 million while capital expenditures were $75 million in the reported quarter. The company repurchased 2.2 million shares for $487 million during the 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 17.81% due to these changes.
VGM Scores
At this time, Avis Budget has a nice Growth Score of B, however its Momentum Score is doing a bit better with an A. Following the exact same course, 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 these revisions looks promising. Notably, Avis Budget has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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
Avis Budget Group, Inc. (CAR) : 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 negative trend continue leading up to its next earnings release, or is Avis Budget 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. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
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Avis Budget Surpasses Q3 Earnings Estimates Avis Budget Group reported mixed third-quarter 2023 results, wherein earnings surpassed the Zacks Consensus Estimate but revenues missed the same. Balance Sheet and Cash Flow Avis Budget exited third-quarter 2023 with cash and cash equivalents of $572 million compared with $571 million at the end of the previous quarter. Click to get this free report Avis Budget Group, Inc. (CAR) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Avis Budget Surpasses Q3 Earnings Estimates Avis Budget Group reported mixed third-quarter 2023 results, wherein earnings surpassed the Zacks Consensus Estimate but revenues missed the same. Adjusted earnings of $16.78 per share beat the consensus estimate by 15.4% but plunged 22.7% year over year. The International segment’s revenues of $828 million beat our estimate of $780.3 million but declined 2% year over year.
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It has been about a month since the last earnings report for Avis Budget Group (CAR). Avis Budget Surpasses Q3 Earnings Estimates Avis Budget Group reported mixed third-quarter 2023 results, wherein earnings surpassed the Zacks Consensus Estimate but revenues missed the same. The company repurchased 2.2 million shares for $487 million during the quarter.
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05e71cba-644e-4d44-8c56-8f116bcc95aa
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715223.0
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2023-12-01 00:00:00 UTC
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Wayfair (W) Up 19.5% Since Last Earnings Report: Can It Continue?
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DCOMP
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https://www.nasdaq.com/articles/wayfair-w-up-19.5-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 Wayfair (W). Shares have added about 19.5% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Wayfair 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.
Wayfair Q3 Loss Narrower Than Expected, Revenues Rise Y/Y
Wayfair reported a third-quarter 2023 non-GAAP loss of 13 cents per share, which was much narrower than the year-ago quarter’s loss of $2.11.
Net revenues of $2.94 billion increased 3.7% year over year.
A decline in the active customer base negatively impacted results. Active customers were down 4.3% year over year to 22.3 million.
LTM net revenues per active customer decreased 1.6% year over year to $538.
Quarter Details
Net revenues in the United States (87.8% of total net revenues) increased 5.4% year over year to $2.6 billion.
International net revenues (12.2% of total net revenues) declined 7% year over year and 7.8% on a constant currency basis to $372 million.
Orders per customer for the quarter were 1.83, up from 1.82 reported in the year-ago quarter. The figure came ahead of the Zacks Consensus Estimate of 1.82.
The average order value declined 8.6% year over year to $297, which lagged the consensus mark by 1.97%.
The total number of orders delivered in the reported quarter was 9.9 million, which increased 13.8% year over year.
Repeat customers placed 7.9 million orders (accounting for 79.7% of total orders) in the second quarter, up 16.2% year over year.
Additionally, 61.7% of total orders delivered were placed through mobile devices in the reported quarter compared with 58.6% in the year-ago quarter.
Operating Results
Wayfair’s third-quarter gross margin was 31.1%, expanding 210 basis points on a year-over-year basis.
Adjusted EBITDA was $100 million against an EBITDA loss of $124 million in the year-ago quarter.
Customer service and merchant fees decreased 12.8% year over year to $136 million.
Advertising expenses fell 4.5% year over year to $337 million. Selling, operations, technology and general and administrative expenses decreased 9.1% year over year to $596 million.
Wayfair incurred a GAAP operating loss of $152 million in the reported quarter compared with an operating loss of $372 million in the year-ago quarter.
Balance Sheet & Cash Flow
As of Sep 30, 2023, cash, cash equivalents and short-term investments were $1.28 billion, up from $1.25 billion reported on Jun 30, 2023.
Long-term debt, as of Sep 30, 2023, was $3.207 billion compared with $3.205 billion on Jun 30.
In the third quarter, cash generated from operations amounted to $121 million compared with $217 million generated from operations in the second quarter.
Wayfair generated a free cash flow of $42 million in the reported quarter
Guidance
For fourth-quarter 2023, Wayfair expects revenue growth to remain within flat to positive low single-digit range. Gross margin is expected to be between 30% and 31%.
Customer service and merchant fees is expected to be in the range of 4% to 5% of net revenues, and advertising should be in the 11.5% to 12.5% range.
Wayfair expects adjusted EBITDA margins for the fourth quarter to be somewhere in the low single-digit range.
How Have Estimates Been Moving Since Then?
It turns out, estimates review have trended upward during the past month.
The consensus estimate has shifted 15.92% due to these changes.
VGM Scores
Currently, Wayfair has a nice Growth Score of B, though it is lagging a lot on the Momentum Score front with a D. 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 broadly trending upward for the stock, and the magnitude of these revisions looks promising. It comes with little surprise Wayfair 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
Wayfair belongs to the Zacks Internet - Commerce industry. Another stock from the same industry, Amazon (AMZN), has gained 5.8% over the past month. More than a month has passed since the company reported results for the quarter ended September 2023.
Amazon reported revenues of $143.08 billion in the last reported quarter, representing a year-over-year change of +12.6%. EPS of $0.85 for the same period compares with $0.20 a year ago.
For the current quarter, Amazon is expected to post earnings of $0.77 per share, indicating a change of +266.7% from the year-ago quarter. The Zacks Consensus Estimate has changed +1.2% over the last 30 days.
Amazon 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 Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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
Wayfair Inc. (W) : Free Stock Analysis Report
Amazon.com, Inc. (AMZN) : 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 Wayfair 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. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
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Wayfair Q3 Loss Narrower Than Expected, Revenues Rise Y/Y Wayfair reported a third-quarter 2023 non-GAAP loss of 13 cents per share, which was much narrower than the year-ago quarter’s loss of $2.11. Wayfair generated a free cash flow of $42 million in the reported quarter Guidance For fourth-quarter 2023, Wayfair expects revenue growth to remain within flat to positive low single-digit range. Click to get this free report Wayfair Inc. (W) : Free Stock Analysis Report Amazon.com, Inc. (AMZN) : Free Stock Analysis Report To read this article on Zacks.com click here.
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The total number of orders delivered in the reported quarter was 9.9 million, which increased 13.8% year over year. Wayfair incurred a GAAP operating loss of $152 million in the reported quarter compared with an operating loss of $372 million in the year-ago quarter. Click to get this free report Wayfair Inc. (W) : Free Stock Analysis Report Amazon.com, Inc. (AMZN) : 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 Wayfair (W). Active customers were down 4.3% year over year to 22.3 million. Amazon reported revenues of $143.08 billion in the last reported quarter, representing a year-over-year change of +12.6%.
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d010d8b3-ea1b-466e-9a1f-6ec71496917b
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715224.0
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2023-12-01 00:00:00 UTC
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Why Is Nutrien (NTR) Down 3.5% Since Last Earnings Report?
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DCOMP
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https://www.nasdaq.com/articles/why-is-nutrien-ntr-down-3.5-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 Nutrien (NTR). Shares have lost about 3.5% in that time frame, underperforming the S&P 500.
Will the recent negative trend continue leading up to its next earnings release, or is Nutrien 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.
Nutrien's Q3 Earnings and Revenues Miss Estimates
Nutrien recorded third-quarter 2023 profits of $82 million or 15 cents per share, down from $1,583 million or $2.94 in the year-ago quarter.
Barring one-time items, adjusted earnings per share were 35 cents. The bottom line missed the Zacks Consensus Estimate of 71 cents.
Sales plunged around 31% year over year to $5,631 million in the quarter. The figure lagged the Zacks Consensus Estimate of $5,680.4 million.
The company's financial performance was impacted by lower net realized selling prices across all business segments and decreased earnings from the Retail unit.
Segment Highlights
Sales in the Nutrien Ag Solutions (Retail) segment declined 12% year over year to $3,490 million in the quarter. The decline in the third quarter was primarily due to a 22% fall in crop nutrient sales on lower selling prices across all regions compared with the strong periods in 2022. The figure was higher than our estimate of $3,273.5 million.
Potash division’s sales declined 51% year over year to $972 million, lower than our estimate of $1,195.3 million. The third quarter witnessed the highest sales volumes ever recorded, primarily fueled by robust demand in North America and Brazil. Offshore sales volumes saw a decline during the same period due to logistical difficulties at Canpotex's West Coast port facilities and reduced shipments to customers in India and Southeast Asia. This decline was partially offset by record sales volumes of Canpotex to Brazil.
Sales in the Nitrogen segment were $659 million, down around 57% year over year. The decline was due to lower net realized selling price in the third quarter for all major nitrogen products, which more than offset lower natural gas costs. The reported figure is lower than our estimate of $1,184.4 million.
Sales in the Phosphate segment were $382 million, down around 33% year over year, affected by the decrease in net realized selling price for fertilizer products, partially offset by lower ammonia and sulfur input costs. The figure was higher than our estimate of $274 million.
Financials
At the end of the quarter, Nutrien had cash and cash equivalents of $554 million, down around 32.7% year over year. Long-term debt was $9,427 million, up roughly 34.3% year over year.
Cash used by operating activities was $469 million in the reported quarter.
Guidance
The company now expects adjusted EBITDA of $5.8-$6.4 billion for full year 2023. Adjusted EPS has been forecast in the band of $4.15-$5.00 per share. Nutrien expects cash provided by operations of $4-$4.5 billionand capital expenditures of about $2.7 billion.
How Have Estimates Been Moving Since Then?
It turns out, estimates revision have trended downward during the past month.
The consensus estimate has shifted -7.44% due to these changes.
VGM Scores
Currently, Nutrien 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 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 this revision indicates a downward shift. Notably, Nutrien has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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
Nutrien Ltd. (NTR) : 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 financial performance was impacted by lower net realized selling prices across all business segments and decreased earnings from the Retail unit. The decline in the third quarter was primarily due to a 22% fall in crop nutrient sales on lower selling prices across all regions compared with the strong periods in 2022. Offshore sales volumes saw a decline during the same period due to logistical difficulties at Canpotex's West Coast port facilities and reduced shipments to customers in India and Southeast Asia.
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The company's financial performance was impacted by lower net realized selling prices across all business segments and decreased earnings from the Retail unit. The decline was due to lower net realized selling price in the third quarter for all major nitrogen products, which more than offset lower natural gas costs. Sales in the Phosphate segment were $382 million, down around 33% year over year, affected by the decrease in net realized selling price for fertilizer products, partially offset by lower ammonia and sulfur input costs.
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Nutrien's Q3 Earnings and Revenues Miss Estimates Nutrien recorded third-quarter 2023 profits of $82 million or 15 cents per share, down from $1,583 million or $2.94 in the year-ago quarter. Segment Highlights Sales in the Nutrien Ag Solutions (Retail) segment declined 12% year over year to $3,490 million in the quarter. Potash division’s sales declined 51% year over year to $972 million, lower than our estimate of $1,195.3 million.
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Nutrien's Q3 Earnings and Revenues Miss Estimates Nutrien recorded third-quarter 2023 profits of $82 million or 15 cents per share, down from $1,583 million or $2.94 in the year-ago quarter. Potash division’s sales declined 51% year over year to $972 million, lower than our estimate of $1,195.3 million. The reported figure is lower than our estimate of $1,184.4 million.
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4e27c790-ba0c-4127-a3ac-e58b6ac09a46
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715225.0
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2023-12-01 00:00:00 UTC
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Inari Medical, Inc. (NARI) Up 17.1% Since Last Earnings Report: Can It Continue?
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DCOMP
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https://www.nasdaq.com/articles/inari-medical-inc.-nari-up-17.1-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 Inari Medical, Inc. (NARI). Shares have added about 17.1% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Inari Medical, Inc. 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.
Inari Medical Q3 Earnings and Revenues Beat Estimates
Inari Medical delivered earnings per share (EPS) of 5 cents in the third quarter of 2023 against the year-ago period’s loss of 19 cents per share. However, the figure surpassed the Zacks Consensus Estimate of a breakeven EPS.
Revenues in Detail
Inari Medical registered revenues of $126.4 million in the third quarter, up 31.4% year over year. The figure surpassed the Zacks Consensus Estimate by 3.6%.
Q3 Highlights
On the third quarterearnings call Inari Medical’s management confirmed that 68% of its revenues were derived from the sale of FlowTriever Systems and 32% from the sale of ClotTriever and other systems.
On the same call, management also continued to make progress across the six products that are in full market release in the second half of 2023. Three of these products, REVCORE, InThrill and ProTrieve, add direct incremental revenue opportunities. Management also confirmed gaining good initial traction and is receiving excellent clinical feedback across all three products.
Per management, Inari Medical witnessed another quarter of record case and revenue production outside of the United States. Its performance was driven primarily by increased adoption in Western Europe, complemented by solid case growth in its early-stage markets in Latin America, Canada and Asia-Pacific. The company continues to make good progress in both China and Japan and anticipates beginning to treat patients in both these markets in 2024. Management expects its international business could represent greater than 20% of total revenues over time on the back of unmet needs.
During the reported quarter, NARI launched two new products — RevCore and T16 Curve catheter — both targeting patients with venous thromboembolism.
Margin Trend
In the quarter under review, Inari Medical’s gross profit improved 31.4% to $111.9 million. The gross margin expanded 4 basis points (bps) to 88.5%.
We had projected 86.2% of gross margin for the third quarter.
Selling, general and administrative expenses rose 16.4% to $88.3 million. Research and development expenses increased 12.5% year over year to $21.5 million. The operating expenses of $109.8 million increased 15.6% year over year.
The operating profit totaled $2.1 million against the operating loss of $9.8 million in the year-ago period.
Financial Position
Inari Medical exited third-quarter 2023 with cash and cash equivalents and short-term investments of $351.3 million compared with $337.5 million at the end of the second quarter.
Cumulative net cash provided by operating activities at the end of third-quarter 2023 was $23.7 million compared with cumulative net cash used in operating activities of $25.2 million a year ago.
Guidance
Inari Medical has raised its financial outlook for the full year 2023.
For the full year, the company now expects revenues to be $490 million-$493 million, up from the prior-year outlook of $482 million-$492 million. The Zacks Consensus Estimate stands at $488.9 million.
How Have Estimates Been Moving Since Then?
It turns out, estimates review have trended downward during the past month.
The consensus estimate has shifted -27.78% due to these changes.
VGM Scores
At this time, Inari Medical, Inc. 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 D on the value side, putting it in the bottom 40% 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, Inari Medical, Inc. 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
Inari Medical, Inc. is part of the Zacks Medical - Instruments industry. Over the past month, Intuitive Surgical, Inc. (ISRG), a stock from the same industry, has gained 11.9%. The company reported its results for the quarter ended September 2023 more than a month ago.
Intuitive Surgical, Inc. reported revenues of $1.74 billion in the last reported quarter, representing a year-over-year change of +12%. EPS of $1.46 for the same period compares with $1.19 a year ago.
Intuitive Surgical, Inc. is expected to post earnings of $1.47 per share for the current quarter, representing a year-over-year change of +19.5%. Over the last 30 days, the Zacks Consensus Estimate remained unchanged.
The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for Intuitive Surgical, Inc. Also, the stock has a VGM Score of D.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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
Inari Medical, Inc. (NARI) : Free Stock Analysis Report
Intuitive Surgical, Inc. (ISRG) : 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. Its performance was driven primarily by increased adoption in Western Europe, complemented by solid case growth in its early-stage markets in Latin America, Canada and Asia-Pacific. During the reported quarter, NARI launched two new products — RevCore and T16 Curve catheter — both targeting patients with venous thromboembolism.
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Inari Medical Q3 Earnings and Revenues Beat Estimates Inari Medical delivered earnings per share (EPS) of 5 cents in the third quarter of 2023 against the year-ago period’s loss of 19 cents per share. Cumulative net cash provided by operating activities at the end of third-quarter 2023 was $23.7 million compared with cumulative net cash used in operating activities of $25.2 million a year ago. Click to get this free report Inari Medical, Inc. (NARI) : Free Stock Analysis Report Intuitive Surgical, Inc. (ISRG) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Inari Medical Q3 Earnings and Revenues Beat Estimates Inari Medical delivered earnings per share (EPS) of 5 cents in the third quarter of 2023 against the year-ago period’s loss of 19 cents per share. The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for Intuitive Surgical, Inc. Also, the stock has a VGM Score of D. Zacks Names "Single Best Pick to Double" From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. Click to get this free report Inari Medical, Inc. (NARI) : Free Stock Analysis Report Intuitive Surgical, Inc. (ISRG) : 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 Inari Medical, Inc. (NARI). Research and development expenses increased 12.5% year over year to $21.5 million. The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for Intuitive Surgical, Inc. Also, the stock has a VGM Score of D. Zacks Names "Single Best Pick to Double" From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come.
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12e8d004-1ce1-4f59-80df-937f62b99283
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715226.0
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2023-12-01 00:00:00 UTC
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SolarEdge (SEDG) Up 9.1% Since Last Earnings Report: Can It Continue?
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DCOMP
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https://www.nasdaq.com/articles/solaredge-sedg-up-9.1-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 SolarEdge Technologies (SEDG). Shares have added about 9.1% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is SolarEdge 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.
SolarEdge Q3 Earnings Miss Estimates, Revenues Fall Y/Y
SolarEdge Technologies reported third-quarter 2023 adjusted loss of 55 cents per share, which missed the Zacks Consensus Estimate of earnings of 68 cents. The bottom line also deteriorated from the prior-year quarter’s reported earnings of 91 cents per share.
Barring one-time adjustments, the company recorded a GAAP loss of $1.08 per share against earnings of 43 cents in the year-ago period.
Revenues
The company’s quarterly revenues of $725.3 million missed the Zacks Consensus Estimate of $766.7 million by 5.4%. The top line also declined 13% from the year-ago quarter’s figure of $836.7 million.
Revenues from the solar segment totaled $676.4 million, down 14% from $788.6 million registered in the prior-year period.
Operational Highlights
SolarEdge shipped a total of 3.8 gigawatts of inverters and 121 megawatt-hours of batteries in the reported quarter.
The adjusted gross margin contracted 650 basis points to 20.8% from the prior-year figure of 27.3%.
Adjusted operating expenses went up 18% year over year to $128 million.
The adjusted operating income totaled $23.1 million, down 81% from the year-ago quarter’s figure of $120.2 million.
Financial Performance
SolarEdge had $551.1 million in cash and cash equivalents as of Sep 30, 2023, compared with $783.1 million as of Dec 31, 2022.
The cash outflow from operating activities amounted to $40.2 million compared with $80 million in the year-ago period.
Total long-term liabilities were $1,287.5 million as of Sep 30, 2023, compared with $1,199.9 million as of Dec 31, 2022.
Q4 Guidance
SEDG expects revenues in the range of $300-$350 million for the fourth quarter of 2023. The Zacks Consensus Estimate for the same is pegged at $1.05 billion, higher than the midpoint of the guided range.
Revenues from the solar segment are projected in the range of $275-$320 million for the same time frame.
While the company’s adjusted gross margin is estimated in the range of 5-8%, the same for the solar segment is anticipated in the band of 7-10%.
SEDG expects adjusted operating expenses in the $126-$130 million range.
How Have Estimates Been Moving Since Then?
It turns out, estimates revision have trended downward during the past month.
The consensus estimate has shifted -596.13% due to these changes.
VGM Scores
At this time, SolarEdge has a poor Growth Score of F, however its Momentum Score is doing a bit better 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 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 SolarEdge has a Zacks Rank #5 (Strong Sell). We expect a below average return from the stock in the next few months.
Performance of an Industry Player
SolarEdge is part of the Zacks Solar industry. Over the past month, First Solar (FSLR), a stock from the same industry, has gained 6.9%. The company reported its results for the quarter ended September 2023 more than a month ago.
First Solar reported revenues of $801.09 million in the last reported quarter, representing a year-over-year change of +27.4%. EPS of $2.50 for the same period compares with -$0.46 a year ago.
First Solar is expected to post earnings of $3.31 per share for the current quarter, representing a year-over-year change of +4828.6%. Over the last 30 days, the Zacks Consensus Estimate has changed -5.5%.
The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for First Solar. Also, the stock has a VGM Score of F.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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
SolarEdge Technologies, Inc. (SEDG) : Free Stock Analysis Report
First Solar, Inc. (FSLR) : 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. Barring one-time adjustments, the company recorded a GAAP loss of $1.08 per share against earnings of 43 cents in the year-ago period. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
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SolarEdge Q3 Earnings Miss Estimates, Revenues Fall Y/Y SolarEdge Technologies reported third-quarter 2023 adjusted loss of 55 cents per share, which missed the Zacks Consensus Estimate of earnings of 68 cents. Revenues The company’s quarterly revenues of $725.3 million missed the Zacks Consensus Estimate of $766.7 million by 5.4%. Click to get this free report SolarEdge Technologies, Inc. (SEDG) : Free Stock Analysis Report First Solar, Inc. (FSLR) : Free Stock Analysis Report To read this article on Zacks.com click here.
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SolarEdge Q3 Earnings Miss Estimates, Revenues Fall Y/Y SolarEdge Technologies reported third-quarter 2023 adjusted loss of 55 cents per share, which missed the Zacks Consensus Estimate of earnings of 68 cents. Revenues The company’s quarterly revenues of $725.3 million missed the Zacks Consensus Estimate of $766.7 million by 5.4%. Click to get this free report SolarEdge Technologies, Inc. (SEDG) : Free Stock Analysis Report First Solar, Inc. (FSLR) : 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 SolarEdge Technologies (SEDG). Revenues The company’s quarterly revenues of $725.3 million missed the Zacks Consensus Estimate of $766.7 million by 5.4%. Over the last 30 days, the Zacks Consensus Estimate has changed -5.5%.
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4f7d9884-c0cf-41ae-ab3d-0596a0d8330e
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715227.0
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2023-12-01 00:00:00 UTC
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Sarepta Therapeutics (SRPT) Up 4.5% Since Last Earnings Report: Can It Continue?
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DCOMP
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https://www.nasdaq.com/articles/sarepta-therapeutics-srpt-up-4.5-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 Sarepta Therapeutics (SRPT). Shares have added about 4.5% in that time frame, underperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Sarepta 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.
Q3 Loss Narrower Than Expected, Sales Beat
Sarepta reported a loss of 46 cents per share in the third quarter of 2023, narrower than the Zacks Consensus Estimate of a loss of $1.66. In the year-ago period, the company posted a loss of $2.94 per share.
The loss included depreciation and amortization expenses and stock-based compensation expenses. The adjusted earnings per share in the quarter stood at 37 cents against the year-ago period’s adjusted loss of 80 cents per share.
Sarepta recorded total revenues of $331.8 million, up 44% year over year. The year-over-year increase in revenues was driven by sales of Sarepta’s four approved marketed therapies for DMD. The reported revenues beat the Zacks Consensus Estimate of $286 million.
Quarter in Detail
The company’s product revenues were up 49% year over year at $309.3 million, which beat our model estimates of $256.9 million. The upside was driven by an increased demand for its marketed products.
Sarepta generated $240.2 million from the product sales of its three PMO therapies, up 16% year over year.
During the third quarter, Sarepta commercially launched Elevidys (delandistrogene moxeparvovec, or SRP-9001), which received accelerated approval from the FDA as the first gene therapy for DMD in June 2023. The recently launched therapy generated $69.1 million in sales, which beat our model estimates of $15 million.
The company recorded $22.5 million in collaboration revenues, primarily from its licensing agreement with Roche. In the year-ago period, management recorded $22.5 million as collaboration revenues, which were also received from Roche.
Adjusted research and development (R&D) expenses totaled $163.9 million in the third quarter, down 15% year over year. This downside is attributable to a decline in manufacturing expenses incurred during the quarter, partially offset by an increase in clinical study expenses.
Adjusted selling, general & administrative (SG&A) expenses were $92.8 million, up 39% year over year. The upside was driven primarily by an increase in professional service expenses incurred by the company for Elevidys’ launch.
2023 Guidance
Sarepta reiterated its previously issued product revenue guidance for the three approved PMO drugs, which are expected to generate more than $925 million in 2023.
Though management did not issue guidance on Elevidys sales, it expects overall product revenues (across all four approved products) to exceed $1 billion for the full year substantially.
How Have Estimates Been Moving Since Then?
It turns out, estimates revision have trended upward during the past month.
The consensus estimate has shifted 62.55% due to these changes.
VGM Scores
Currently, Sarepta Therapeutics has a nice Growth Score of B, however its Momentum Score is doing a bit better with an A. 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 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. It comes with little surprise Sarepta Therapeutics 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
Sarepta Therapeutics is part of the Zacks Medical - Biomedical and Genetics industry. Over the past month, Incyte (INCY), a stock from the same industry, has gained 0.7%. The company reported its results for the quarter ended September 2023 more than a month ago.
Incyte reported revenues of $919.03 million in the last reported quarter, representing a year-over-year change of +11.6%. EPS of $1.10 for the same period compares with $0.60 a year ago.
Incyte is expected to post earnings of $1.22 per share for the current quarter, representing a year-over-year change of +96.8%. Over the last 30 days, the Zacks Consensus Estimate has changed -1.7%.
Incyte 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 Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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
Sarepta Therapeutics, Inc. (SRPT) : Free Stock Analysis Report
Incyte Corporation (INCY) : 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. During the third quarter, Sarepta commercially launched Elevidys (delandistrogene moxeparvovec, or SRP-9001), which received accelerated approval from the FDA as the first gene therapy for DMD in June 2023. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
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Q3 Loss Narrower Than Expected, Sales Beat Sarepta reported a loss of 46 cents per share in the third quarter of 2023, narrower than the Zacks Consensus Estimate of a loss of $1.66. The recently launched therapy generated $69.1 million in sales, which beat our model estimates of $15 million. Click to get this free report Sarepta Therapeutics, Inc. (SRPT) : Free Stock Analysis Report Incyte Corporation (INCY) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Q3 Loss Narrower Than Expected, Sales Beat Sarepta reported a loss of 46 cents per share in the third quarter of 2023, narrower than the Zacks Consensus Estimate of a loss of $1.66. Quarter in Detail The company’s product revenues were up 49% year over year at $309.3 million, which beat our model estimates of $256.9 million. Click to get this free report Sarepta Therapeutics, Inc. (SRPT) : Free Stock Analysis Report Incyte Corporation (INCY) : 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 Sarepta Therapeutics (SRPT). The reported revenues beat the Zacks Consensus Estimate of $286 million. Quarter in Detail The company’s product revenues were up 49% year over year at $309.3 million, which beat our model estimates of $256.9 million.
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bf3308bc-dfd0-48c7-8d43-7e70daae3fe8
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715228.0
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2023-12-01 00:00:00 UTC
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Why Is Ingevity (NGVT) Down 8.3% Since Last Earnings Report?
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DCOMP
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https://www.nasdaq.com/articles/why-is-ingevity-ngvt-down-8.3-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 Ingevity (NGVT). Shares have lost about 8.3% in that time frame, underperforming the S&P 500.
Will the recent negative trend continue leading up to its next earnings release, or is Ingevity 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.
Ingevity's Earnings and Sales Miss Estimates in Q3
Ingevity recorded third-quarter 2023 profits of $25.2 million or 69 cents per share, down from $75.4 million or $1.98 per share in the year-ago quarter.
Excluding one-time items, adjusted earnings in the quarter were $1.21 per share, down from $2.09 a year ago. The figure missed the Zacks Consensus Estimate of $1.22.
Revenues fell 7.5% year over year to $446 million in the quarter, missing the Zacks Consensus Estimate of $466.4 million. Lower volumes due to weak industrial demand mainly affected Advanced Polymer Technologies and the Industrial Specialties business lines, partly offset by increased North America and Asia sales and higher pricing in the Pavement Technologies business line.
Segmental Review
The Performance Chemicals division generated revenues of $256 million in the reported quarter, down around 4% year over year. The reported figure was lower than the consensus estimate of $264 million.
Revenues in the Performance Materials unit rose around 2% year over year to $147.2 million. The figure was higher than the consensus estimate of $142 million.
Sales in the Advanced Polymer Technologies segment were down 38% at $42.8 million. It was below the consensus estimate of $61 million.
Financials
Operating cash flow in the third quarter was $106.9 million, and free cash flow came in at $73.4 million. This was primarily due to greater inventory levels brought on both higher CTO prices and lower demand for rosin. There were no share repurchases during the quarter, and $353.4 million of the $500 million Board authorization from July 2022 is still available. Due to higher borrowing for the Ozark acquisition in the fourth quarter of 2022, net leverage was 3.2 times.
Outlook
As it enters the fourth quarter, the year-long soft industrial demand environment does not seem to be improving. Therefore, volume weakness is anticipated to persist, Ingevity noted. Price pressure is increasing as the weakness continues, especially in cyclical areas like adhesives and oilfields. The company cut its adjusted EBITDA outlook for the full year to be between $375 million and $390 million due to growing CTO expenses in the fourth quarter and the failure to recover costs through pricing adjustments.
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 -109.82% due to these changes.
VGM Scores
At this time, Ingevity 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 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. It's no surprise Ingevity has a Zacks Rank #5 (Strong Sell). We expect a below average return from the stock in the next few months.
Performance of an Industry Player
Ingevity belongs to the Zacks Chemical - Specialty industry. Another stock from the same industry, Element Solutions (ESI), has gained 12.8% over the past month. More than a month has passed since the company reported results for the quarter ended September 2023.
Element Solutions reported revenues of $599.3 million in the last reported quarter, representing a year-over-year change of -3.1%. EPS of $0.36 for the same period compares with $0.36 a year ago.
Element Solutions is expected to post earnings of $0.32 per share for the current quarter, representing a year-over-year change of +10.3%. Over the last 30 days, the Zacks Consensus Estimate has changed -2%.
The overall direction and magnitude of estimate revisions translate into a Zacks Rank #4 (Sell) for Element Solutions. Also, the stock has a VGM Score of B.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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
Ingevity Corporation (NGVT) : Free Stock Analysis Report
Element Solutions Inc. (ESI) : 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. This was primarily due to greater inventory levels brought on both higher CTO prices and lower demand for rosin. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
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Lower volumes due to weak industrial demand mainly affected Advanced Polymer Technologies and the Industrial Specialties business lines, partly offset by increased North America and Asia sales and higher pricing in the Pavement Technologies business line. Element Solutions reported revenues of $599.3 million in the last reported quarter, representing a year-over-year change of -3.1%. Click to get this free report Ingevity Corporation (NGVT) : Free Stock Analysis Report Element Solutions Inc. (ESI) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Ingevity's Earnings and Sales Miss Estimates in Q3 Ingevity recorded third-quarter 2023 profits of $25.2 million or 69 cents per share, down from $75.4 million or $1.98 per share in the year-ago quarter. Revenues fell 7.5% year over year to $446 million in the quarter, missing the Zacks Consensus Estimate of $466.4 million. Click to get this free report Ingevity Corporation (NGVT) : Free Stock Analysis Report Element Solutions Inc. (ESI) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Ingevity's Earnings and Sales Miss Estimates in Q3 Ingevity recorded third-quarter 2023 profits of $25.2 million or 69 cents per share, down from $75.4 million or $1.98 per share in the year-ago quarter. Revenues fell 7.5% year over year to $446 million in the quarter, missing the Zacks Consensus Estimate of $466.4 million. It was below the consensus estimate of $61 million.
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4169c6be-9b20-4d44-bab1-0042c9527cf7
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715229.0
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2023-12-01 00:00:00 UTC
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Why Is Astec Industries (ASTE) Up 4.3% Since Last Earnings Report?
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DCOMP
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https://www.nasdaq.com/articles/why-is-astec-industries-aste-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 Astec Industries (ASTE). 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 Astec Industries 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.
Astec Q3 Earnings Miss Estimates, Revenues Dip Y/Y
Astec reported a third-quarter 2023 adjusted loss per share of 1 cent, missing the Zacks Consensus Estimate of earnings of 64 cents. The company reported adjusted earnings of 28 cents in the year-ago quarter.
Including one-time items, the company reported a loss of 29 cents in the quarter under review against earnings per share of 3 cents in the year-ago quarter.
Revenues & Backlog
Astec’s revenues fell 3.8% year over year to a record $303 million in the quarter under review. The top line missed the Zacks Consensus Estimate of $330 million.
Domestic sales were down 7.9% year over year, while International sales were up 11.7% in the quarter.
Astec reported a backlog of $615 million at the third-quarter end, suggesting a year-over-year decline of 36.6%. Domestic backlog fell 37.2% year over year to $511 million, whereas international backlog declined 33.4% to $104 million.
We expected the total backlog to be $1,101 million in the quarter.
Operating Performance
Cost of sales decreased 6.5% year over year to $234 million in the third quarter. The gross profit was $70 million compared with the year-ago quarter’s $66 million. The gross margin moved up to 23% from the year-ago quarter’s 20.8%.
Selling, general, administrative and engineering (SG&A) increased 17% year over year to $74 million. The company reported an adjusted operating income of $3.1 million, reflecting a year-over-year fall of 67.4%. The adjusted operating margin was 1% compared with 3% in the prior-year quarter.
Adjusted EBITDA was $10 million in the reported quarter, down 39.8% from the year-ago quarter. The adjusted EBITDA margin was 3.3%, down from the prior-year quarter’s 5.3%.
Segmental Performances
Revenues in the Infrastructure Solutions segment were down 5.5% to $191 million from the year-ago quarter. We predicted the segment’s sales to be $218 million. The segment’s adjusted EBITDA was $16.5 million, down 6.3% from the prior-year quarter.
The Materials Solutions segment’s total revenues were $111 million in the quarter under review, reflecting a year-over-year fall of 1.2%. We expected sales of $130 million for the segment. The segment’s adjusted EBITDA was $8.3 million, down 36.6% year over year.
Financial Position
Astec ended the third quarter of 2023 with cash and cash equivalents of $74 million compared with $66 million at the 2022-end. At the end of third-quarter 2023, the company’s long-term debt was $122 million compared with $78 million at the end of 2022.
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 -25.7% due to these changes.
VGM Scores
At this time, Astec Industries has a subpar Growth Score of D, though it is lagging a bit 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 broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. It's no surprise Astec Industries has a Zacks Rank #5 (Strong Sell). We expect a below average return from the stock in the next few months.
Performance of an Industry Player
Astec Industries belongs to the Zacks Manufacturing - Construction and Mining industry. Another stock from the same industry, Caterpillar (CAT), has gained 4.9% over the past month. More than a month has passed since the company reported results for the quarter ended September 2023.
Caterpillar reported revenues of $16.81 billion in the last reported quarter, representing a year-over-year change of +12.1%. EPS of $5.52 for the same period compares with $3.95 a year ago.
Caterpillar is expected to post earnings of $4.76 per share for the current quarter, representing a year-over-year change of +23.3%. Over the last 30 days, the Zacks Consensus Estimate has changed -0.9%.
Caterpillar 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 Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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
Astec Industries, Inc. (ASTE) : Free Stock Analysis Report
Caterpillar Inc. (CAT) : 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 Astec Industries 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. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
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Astec Q3 Earnings Miss Estimates, Revenues Dip Y/Y Astec reported a third-quarter 2023 adjusted loss per share of 1 cent, missing the Zacks Consensus Estimate of earnings of 64 cents. Domestic backlog fell 37.2% year over year to $511 million, whereas international backlog declined 33.4% to $104 million. Click to get this free report Astec Industries, Inc. (ASTE) : Free Stock Analysis Report Caterpillar Inc. (CAT) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Astec Q3 Earnings Miss Estimates, Revenues Dip Y/Y Astec reported a third-quarter 2023 adjusted loss per share of 1 cent, missing the Zacks Consensus Estimate of earnings of 64 cents. Adjusted EBITDA was $10 million in the reported quarter, down 39.8% from the year-ago quarter. Click to get this free report Astec Industries, Inc. (ASTE) : Free Stock Analysis Report Caterpillar Inc. (CAT) : 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 Astec Industries (ASTE). The company reported adjusted earnings of 28 cents in the year-ago quarter. The segment’s adjusted EBITDA was $8.3 million, down 36.6% year over year.
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a7eddb55-ad7d-4dd8-a22b-7e8bab30cde3
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715230.0
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2023-12-01 00:00:00 UTC
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Clorox (CLX) Up 16.5% Since Last Earnings Report: Can It Continue?
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DCOMP
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https://www.nasdaq.com/articles/clorox-clx-up-16.5-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 Clorox (CLX). Shares have added about 16.5% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Clorox 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.
Pricing Aids Clorox's Q1 Earnings Amid Cyberattack Woes
Clorox reported first-quarter fiscal 2024 results, wherein the top and bottom lines beat the Zacks Consensus Estimate but declined year over year. Results were mainly impacted by lower volumes resulting from the cyberattack that occurred in August.
Q1 Updates
Adjusted earnings of 49 cents per share declined 47% year over year. Yet, the bottom line beat the Zacks Consensus Estimate of a loss of 20 cents. Results also surpassed the company’s preliminary bottom-line expectations between a loss of 40 cents and breakeven.
Adjusted earnings excluded one-time costs related to the recent cyberattack incident, and ongoing digital capabilities and productivity enhancements investment of 15 cents and 17 cents, respectively. On a GAAP basis, the company reported earnings of 17 cents per share, reflecting a plunge of 75% from 68 cents reported a year ago. On the preliminary results release, management anticipated a loss of 35-75 cents per share, on a GAAP basis.
Net sales of $1,386 million decreased 20% from the year-ago quarter but surpassed the Zacks Consensus Estimate of $1,296 million. On an organic basis, sales fell 18% year over year. The downtick was mainly caused by lower volumes resulting from the cyberattack, partly negated by a favorable price mix.
Gross margin expanded 240 bps year over year to 38.4% in the fiscal first quarter. Gains from pricing and cost-saving initiatives were offset by the impact of lower volume. The gross margin was significantly ahead of our projection of a 720-bps decline to 28.8% for the fiscal first quarter.
Segmental Discussion
Sales of the Health and Wellness segment tumbled 23% to $504 million, which lagged our estimate of $512.5 million. This was due to a decline of 29 points in volume offset by 6 points gain from a favorable price mix. It reflected lower volumes and resulting revenue declines in both Cleaning and Professional Products businesses.
The Household segment’s sales declined 23% to $325 million but came ahead of our estimate of $296.1 million. The decrease resulted from 30 points decline in volume partly negated by 7 points gain from a favorable price mix. Each of the segment’s businesses, including Bags and Wraps, Cat Litter, and Grilling Bags, reported sales declines.
Sales in the Lifestyle segment plunged 28% year over year to $229 million, which outpaced our estimate of $227.2 million. This was mainly driven by 37 points decline in volume offset by 9 points gain from a favorable price mix. The segment’s three businesses – Food, Natural Personal Care and Water Filtration Food – reported sales declines.
In the International segment, sales of $270 million were down 5% year over year but outshined our estimate of $233.7 million. This was driven by a volume decline of 13 points and 14 points impact from unfavorable currency offset by 22 points gain from favorable price mix. Organic sales for the segment improved 9%.
Financials
Clorox ended first-quarter fiscal 2024 with cash and cash equivalents of $518 million, and long-term debt of $2,478 million.
Fiscal 2024 Guidance
For fiscal 2024, management envisions net sales to decline mid-to-high single digits year over year. The sales decline is expected to reflect the impacts of the cyberattack. The guidance includes about 2 points of negative currency impact. Gross margin is projected to be flat due to the combined benefits of pricing actions, cost savings and supply-chain-optimization efforts. Continued input cost inflation and the cyberattack impacts are likely to offset the positives. CLX suggests selling and administrative expenses to be 16% of sales, including the impact of 2 points from its strategic investments in digital capabilities, implementation of the streamlined operating model and expenses incurred for the cyberattack.
Clorox anticipates advertising and sales promotion spending to be 11% of sales. This is likely to be driven by its commitment to investing in its brand portfolio. The effective tax rate is likely to be 23-24%. The company expects GAAP earnings of $2.10-$2.60 per share for fiscal 2024. The guidance suggests a year-over-year increase of 75-117%. On an adjusted basis, earnings per share are anticipated to be $4.30-$4.80, indicating a decline of 6-16% year over year.
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 11.79% due to these changes.
VGM Scores
Currently, Clorox has a great Growth Score of A, a grade with the same score on the momentum front. However, the stock was allocated a grade of F on the value side, putting it in the lowest 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 upward for the stock, and the magnitude of these revisions looks promising. Notably, Clorox has a Zacks Rank #5 (Strong Sell). We expect a below average return from the stock in the next few months.
Performance of an Industry Player
Clorox is part of the Zacks Soap and Cleaning Materials industry. Over the past month, Colgate-Palmolive (CL), a stock from the same industry, has gained 5.3%. The company reported its results for the quarter ended September 2023 more than a month ago.
Colgate-Palmolive reported revenues of $4.92 billion in the last reported quarter, representing a year-over-year change of +10.3%. EPS of $0.86 for the same period compares with $0.74 a year ago.
Colgate-Palmolive is expected to post earnings of $0.85 per share for the current quarter, representing a year-over-year change of +10.4%. Over the last 30 days, the Zacks Consensus Estimate has changed 0%.
Colgate-Palmolive 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 Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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 Clorox Company (CLX) : Free Stock Analysis Report
Colgate-Palmolive Company (CL) : 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. Gross margin is projected to be flat due to the combined benefits of pricing actions, cost savings and supply-chain-optimization efforts. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
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Pricing Aids Clorox's Q1 Earnings Amid Cyberattack Woes Clorox reported first-quarter fiscal 2024 results, wherein the top and bottom lines beat the Zacks Consensus Estimate but declined year over year. The decrease resulted from 30 points decline in volume partly negated by 7 points gain from a favorable price mix. Click to get this free report The Clorox Company (CLX) : Free Stock Analysis Report Colgate-Palmolive Company (CL) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Pricing Aids Clorox's Q1 Earnings Amid Cyberattack Woes Clorox reported first-quarter fiscal 2024 results, wherein the top and bottom lines beat the Zacks Consensus Estimate but declined year over year. In the International segment, sales of $270 million were down 5% year over year but outshined our estimate of $233.7 million. Click to get this free report The Clorox Company (CLX) : Free Stock Analysis Report Colgate-Palmolive Company (CL) : 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 Clorox (CLX). The sales decline is expected to reflect the impacts of the cyberattack. The company expects GAAP earnings of $2.10-$2.60 per share for fiscal 2024.
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709be040-0641-4ed0-97ad-1c10397908ae
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715231.0
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2023-12-01 00:00:00 UTC
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Axis Capital (AXS) Up 4.3% Since Last Earnings Report: Can It Continue?
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DCOMP
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https://www.nasdaq.com/articles/axis-capital-axs-up-4.3-since-last-earnings-report%3A-can-it-continue
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A month has gone by since the last earnings report for Axis Capital (AXS). 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 Axis Capital 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.
AXIS Capital Q3 Earnings Top, Underwriting Improves
AXIS Capital Holdings Limited posted third-quarter 2023 operating income of $2.34 per share, beating the Zacks Consensus Estimate by 25.8%. The bottom line increased from 3 cents in the year-ago quarter.
The insurer’s results reflected higher net investment income, increased underwriting income, improved combined ratio and lower expense.
Quarterly Operational Update
Total operating revenues of $1.5 billion beat the Zacks Consensus Estimate by 3.3%. The top line rose 37.6% year over year on higher net investment income and higher premiums earned.
Net premiums written decreased 6% to $1 billion, attributable to a 65% decline in the Reinsurance segment, partially offset by a 14% increase in the Insurance segment. Our estimate was $1.4 billion. Net investment income increased 75% year over year to $154 million, primarily driven by higher income from the fixed maturities portfolio due to increased yields. Our estimate was $122.3 million.
Total expenses in the quarter under review decreased 0.5% year over year to $1.2 billion due to lower net losses and loss expenses. Our estimate for the same was also $1.2 billion.
Pre-tax catastrophe and weather-related losses and net of reinsurance were $42 million, primarily attributable to Maui wildfires, Hurricane Idalia and other weather-related events. The loss was narrower than the year-ago loss of $212 million. AXIS Capital’s underwriting income of $147 million rebounded from the year-ago loss of $29 million.
The combined ratio improved 1160 basis points (bps) to 92.7. The Zacks Consensus Estimate was pegged at 94. Our estimate was 95.
Segment Results
Insurance: Gross premiums written improved 10.6% year over year to $1.5 billion, driven by increases in property, liability, and marine and aviation lines due to favorable rate changes and new business, and accident and health lines mainly due to new business, partially offset by decreases in cyber lines. Our estimate was $1.6. billion. Net premiums earned increased 13.2% year over year to $885.7 million. Our estimate was $956.9 million. Underwriting income of $104.6 million increased more than six-fold year over year. The combined ratio improved 980 bps to 88.2. The Zacks Consensus Estimate for combined ratio was pegged at 78.
Reinsurance: Gross premiums written increased 15% year over year to $448.3 million, driven by increases in liability, and credit and surety lines due to new business and increased line sizes, and professional lines, largely driven by new business. Our estimate was $492.6 million.
Net premiums earned decreased 13.1% year over year to $436.8 million. Our estimate was $356.7 million. Underwriting income of $42.4 million rebounded from the year-ago loss of $44.8 million. The combined ratio improved 1640 bps year over year to 92.7. The Zacks Consensus Estimate for combined ratio was pegged at 169.
Financial Update
AXIS Capital exited the third quarter with cash and cash equivalents of $1.3 billion, up 7.9% from the 2022 end level. Debt was $1.3 billion at quarter-end, up 0.1% from the 2022-end level.
Book value per share increased 9% from 2022 end to $51.17 as of Sep 30, 2023, driven by net income, partially offset by net unrealized investment losses reported in accumulated other comprehensive income (loss), and common share dividends declared. Annualized operating return on average common equity was 18% in the third quarter, which expanded 1500 bps year over year.
Capital Deployment
As of Sep 30, 2023, AXIS Capital had $100 million remaining authorization under the board-authorized share repurchase program for common share repurchases through Dec 31, 2023.
How Have Estimates Been Moving Since Then?
It turns out, fresh estimates have trended downward during the past month.
The consensus estimate has shifted -25.9% due to these changes.
VGM Scores
At this time, Axis Capital has a nice Growth Score of B, 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, Axis Capital 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
Axis Capital is part of the Zacks Insurance - Property and Casualty industry. Over the past month, Travelers (TRV), a stock from the same industry, has gained 6.9%. The company reported its results for the quarter ended September 2023 more than a month ago.
Travelers reported revenues of $10.7 billion in the last reported quarter, representing a year-over-year change of +13.9%. EPS of $1.95 for the same period compares with $2.20 a year ago.
Travelers is expected to post earnings of $4.97 per share for the current quarter, representing a year-over-year change of +46.2%. Over the last 30 days, the Zacks Consensus Estimate has changed 0%.
The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for Travelers. Also, the stock has a VGM Score of B.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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
Axis Capital Holdings Limited (AXS) : Free Stock Analysis Report
The Travelers Companies, Inc. (TRV) : 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. AXIS Capital Holdings Limited posted third-quarter 2023 operating income of $2.34 per share, beating the Zacks Consensus Estimate by 25.8%. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
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The insurer’s results reflected higher net investment income, increased underwriting income, improved combined ratio and lower expense. Segment Results Insurance: Gross premiums written improved 10.6% year over year to $1.5 billion, driven by increases in property, liability, and marine and aviation lines due to favorable rate changes and new business, and accident and health lines mainly due to new business, partially offset by decreases in cyber lines. Click to get this free report Axis Capital Holdings Limited (AXS) : Free Stock Analysis Report The Travelers Companies, Inc. (TRV) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Net investment income increased 75% year over year to $154 million, primarily driven by higher income from the fixed maturities portfolio due to increased yields. Segment Results Insurance: Gross premiums written improved 10.6% year over year to $1.5 billion, driven by increases in property, liability, and marine and aviation lines due to favorable rate changes and new business, and accident and health lines mainly due to new business, partially offset by decreases in cyber lines. Reinsurance: Gross premiums written increased 15% year over year to $448.3 million, driven by increases in liability, and credit and surety lines due to new business and increased line sizes, and professional lines, largely driven by new business.
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A month has gone by since the last earnings report for Axis Capital (AXS). AXIS Capital Q3 Earnings Top, Underwriting Improves Net premiums earned increased 13.2% year over year to $885.7 million.
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3a679694-61eb-45e0-840e-a684f9677ea1
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715232.0
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2023-12-01 00:00:00 UTC
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Why Is Generac Holdings (GNRC) Up 17.8% Since Last Earnings Report?
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DCOMP
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https://www.nasdaq.com/articles/why-is-generac-holdings-gnrc-up-17.8-since-last-earnings-report
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It has been about a month since the last earnings report for Generac Holdings (GNRC). Shares have added about 17.8% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Generac 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 catalysts.
Generac Q3 Earnings Beat Estimates
Generac reported third-quarter 2023 adjusted earnings per share of $1.64 per share, which beat the Zacks Consensus Estimate of $1.50. It registered EPS of $1.75 in the prior year.
Net sales decreased 2% year over year to $1.07 billion but outshined the consensus estimate of $1038.1 million. The year-over-year performance was affected by a softness in the Residential products business.
The company added that it witnessed a sequential increase in shipments of home standby generators. Higher activations are pushing field inventories toward more sustainable levels, noted mangement.
Core sales growth (excluding impacts of acquisitions and foreign currency) reduced 4% year over year.
For 2023, Generac continues expecting revenues to plunge 10-12%. This includes net favorable impact of 2% from acquisitions and foreign currency changes.
Net income margin (before deducting for non-controlling interests) is now anticipated to be 5-6% compared with the earlier guided range of 6-7%. Adjusted EBITDA margin is estimated in the 15.5-16.5% band, unchanged from the previous projection.
Quarter in Details
Segment-wise, Domestic revenues declined 6% year over year to $894 million. Lower residential product sales (mainly home standby and portable generator shipments), which was partly offset by growth in C&I product sales, resulted in this downtick.
International revenues rose 14% to $207.6 million, with acquisitions and favorable foreign currency movement providing a positive impact of 11%. Core revenues were up 3%, driven by healthy sales of C&I products in most regions. Weak portable generator sales in Europe acted as a headwind.
Product-wise, revenues from Residential tumbled 15% to $565 million. C&I revenues were $385 million, up 24% from the year-ago levels. Revenues from the Other product class totaled $121 million, gaining 7.2% year over year.
The Zacks Consensus Estimate for Residential and C&I products’ third-quarter revenues was pegged at $574 million and $342 million, respectively.
Margins
Gross profit was $375.8 million, up from $361.1 million in the prior-year quarter, with respective margins of 35.1% and 33.2%. Gross profit margin performance gained from lower raw material and logistics costs, and production efficiencies.
Total operating expenses were $271 million, down 0.9% from the prior year.
Operating income of $104.8 million dipped 19.7% year over year. Adjusted EBITDA, before deducting for non-controlling interests, was $189 million compared with $184 million a year ago.
Cash Flow & Liquidity
In the third quarter, the company generated $140 million of net cash from operating activities. Free cash outflow totaled $117 million.
As of Sep 30, Generac had $161.5 million of cash and cash equivalents, with $1.465 billion of long-term borrowings and finance lease obligations.
During the reported quarter, the company repurchased 875,580 shares worth $100 million. As of Sep 30, 2023, it has $178 million worth of stock remaining under the current repurchase program.
How Have Estimates Been Moving Since Then?
It turns out, estimates review have trended downward during the past month.
VGM Scores
At this time, Generac Holdings 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 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, Generac Holdings has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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
Generac Holdings Inc. (GNRC) : 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. Gross profit margin performance gained from lower raw material and logistics costs, and production efficiencies. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
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Generac Q3 Earnings Beat Estimates Generac reported third-quarter 2023 adjusted earnings per share of $1.64 per share, which beat the Zacks Consensus Estimate of $1.50. Lower residential product sales (mainly home standby and portable generator shipments), which was partly offset by growth in C&I product sales, resulted in this downtick. Click to get this free report Generac Holdings Inc. (GNRC) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Generac Q3 Earnings Beat Estimates Generac reported third-quarter 2023 adjusted earnings per share of $1.64 per share, which beat the Zacks Consensus Estimate of $1.50. Net sales decreased 2% year over year to $1.07 billion but outshined the consensus estimate of $1038.1 million. The Zacks Consensus Estimate for Residential and C&I products’ third-quarter revenues was pegged at $574 million and $342 million, respectively.
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Generac Q3 Earnings Beat Estimates Generac reported third-quarter 2023 adjusted earnings per share of $1.64 per share, which beat the Zacks Consensus Estimate of $1.50. Revenues from the Other product class totaled $121 million, gaining 7.2% year over year. During the reported quarter, the company repurchased 875,580 shares worth $100 million.
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715233.0
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2023-12-01 00:00:00 UTC
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Countdown to C3.ai, Inc. (AI) Q2 Earnings: Wall Street Forecasts for Key Metrics
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DCOMP
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https://www.nasdaq.com/articles/countdown-to-c3.ai-inc.-ai-q2-earnings%3A-wall-street-forecasts-for-key-metrics
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Analysts on Wall Street project that C3.ai, Inc. (AI) will announce quarterly loss of $0.19 per share in its forthcoming report, representing a decline of 72.7% year over year. Revenues are projected to reach $73.03 million, increasing 17% from the same quarter last year.
The current level reflects no revision in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.
Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock.
While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.
With that in mind, let's delve into the average projections of some C3.ai, Inc. metrics that are commonly tracked and projected by analysts on Wall Street.
Analysts expect 'Revenue- Subscription' to come in at $64.47 million. The estimate suggests a change of +8.3% year over year.
The consensus among analysts is that 'Gross margin- Professional services' will reach 78.7%. Compared to the present estimate, the company reported 45% in the same quarter last year.
It is projected by analysts that the 'Gross margin- Subscription' will reach 54.5%. The estimate is in contrast to the year-ago figure of 68%.
View all Key Company Metrics for C3.ai, Inc. here>>>
C3.ai, Inc. shares have witnessed a change of +6.8% in the past month, in contrast to the Zacks S&P 500 composite's +9.2% move. With a Zacks Rank #3 (Hold), AI is expected closely follow the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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
C3.ai, Inc. (AI) : 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 current level reflects no revision in the consensus EPS estimate for the quarter over the past 30 days. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
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While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> Zacks Names "Single Best Pick to Double" From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. Click to get this free report C3.ai, Inc. (AI) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Analysts on Wall Street project that C3.ai, Inc. (AI) will announce quarterly loss of $0.19 per share in its forthcoming report, representing a decline of 72.7% year over year. While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> Zacks Names "Single Best Pick to Double" From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come.
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The current level reflects no revision in the consensus EPS estimate for the quarter over the past 30 days. While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective. Compared to the present estimate, the company reported 45% in the same quarter last year.
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1fa40d49-7e54-480b-adf7-89d742458b70
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715234.0
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2023-12-01 00:00:00 UTC
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Why Is Red Robin (RRGB) Down 4.6% Since Last Earnings Report?
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DCOMP
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https://www.nasdaq.com/articles/why-is-red-robin-rrgb-down-4.6-since-last-earnings-report
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It has been about a month since the last earnings report for Red Robin (RRGB). Shares have lost about 4.6% in that time frame, underperforming the S&P 500.
Will the recent negative trend continue leading up to its next earnings release, or is Red Robin 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.
Red Robin’s Q3 Earnings Beat, Adjusted EBITDA Up Y/Y
Red Robin reported mixed third-quarter fiscal 2023 results, with earnings beating the Zacks Consensus Estimate and revenues missing the same. The top line improved on a year-over-year basis, but the bottom line declined.
Delving Deeper
In the fiscal third quarter, Red Robin recorded an adjusted loss per share of 79 cents, surpassing the Zacks Consensus Estimate of a loss of 81 cents. The company reported an adjusted loss per share of $1.04 in the prior-year quarter.
Quarterly revenues of $277.6 million missed the consensus mark of $278.3 million. The top line declined 3.2% year over year. The downside was primarily caused by a decline in comps.
During the quarter under review, comparable restaurant revenues fell 3.4% year over year. The downside can be attributed to the shift away from deep discounting marketing promotions and the elimination of virtual brands. Also, the Guest count declined 10.4% during the quarter. However, this was partially offset by a 7% rise in guest checks. The rise in guest checks can be attributed to a 7.7% increase in menu prices and a 2.1% increase in discounts. However, this was partially offset by a 2.8% decline in the menu mix. Per our model, comparable restaurant revenues were anticipated to decline 1.4% year over year.
Operating Results
The restaurant-level operating profit margin was 11.1% in the fiscal third quarter (compared with 12.6% reported in the prior-year quarter). The figure compares to our projection of 11.7%.
During the fiscal third quarter, restaurant labor costs increased 3.2% year over year to $103.7 million. The figure compares to our projection of $99.5 million. Restaurant labor costs (as a percentage of restaurant revenues) increased 240 basis points (bps) year over year to 38%.
Meanwhile, other operating costs during the quarter declined 4.7% year over year to $50.4 million. The figure compares to our projection of $52.8 million. Other operating costs (as a percentage of restaurant revenues) declined 30 bps year over year to 18.4%.
During the quarter under review, the cost of sales (as a percentage of restaurant revenues) fell 120 bps year over year to 23.8%. Occupancy costs (as a percentage of restaurant revenues) increased 50 bps year over year to 8.6%.
Adjusted earnings before interest expenses, income taxes, depreciation and amortization (EBITDA) during the fiscal third quarter amounted to $6.8 million (compared with $3.9 million reported in the prior year quarter). Our estimate for the metric was $9.2 million.
Other Financial Information
As of Oct 1, 2023, Red Robin had cash and cash equivalents of $48.6 million compared with $44 million as of Jul 9, 2023. Long-term debt as of Oct 1, 2023, was $182.1 million compared with $188.1 in the previous quarter. Inventories during the quarter were $27 million compared with $26.9 million reported in the previous quarter.
2023 Guidance
For 2023, the company expects total revenues to be at least $1.3 billion. Restaurant-level operating profit is anticipated to be in the range of 13-13.5% compared with the previous expectation of at least 13.5%. The company expects 2023 Comparable Restaurant Revenue to grow in the range of 1-3% year over year.
The selling, general and administrative costs are expected in the range of $123-$127 million compared with the previous expectation of $127-$132 million. Capital expenditures are anticipated to be between $45 million and $50 million.
In 2023, adjusted EBITDA is expected in the range of $72.5-$77.5 million compared with the previous anticipation of $72.5-$82.5 million.
How Have Estimates Been Moving Since Then?
It turns out, estimates review have trended upward during the past month.
The consensus estimate has shifted 10.35% due to these changes.
VGM Scores
Currently, Red Robin has a nice Growth Score of B, however its Momentum Score is doing a bit better with an A. Following the exact same course, 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 trending upward for the stock, and the magnitude of these revisions looks promising. Notably, Red Robin has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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
Red Robin Gourmet Burgers, Inc. (RRGB) : 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 negative trend continue leading up to its next earnings release, or is Red Robin 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. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
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Red Robin’s Q3 Earnings Beat, Adjusted EBITDA Up Y/Y Red Robin reported mixed third-quarter fiscal 2023 results, with earnings beating the Zacks Consensus Estimate and revenues missing the same. Delving Deeper In the fiscal third quarter, Red Robin recorded an adjusted loss per share of 79 cents, surpassing the Zacks Consensus Estimate of a loss of 81 cents. Restaurant labor costs (as a percentage of restaurant revenues) increased 240 basis points (bps) year over year to 38%.
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Red Robin’s Q3 Earnings Beat, Adjusted EBITDA Up Y/Y Red Robin reported mixed third-quarter fiscal 2023 results, with earnings beating the Zacks Consensus Estimate and revenues missing the same. Meanwhile, other operating costs during the quarter declined 4.7% year over year to $50.4 million. Adjusted earnings before interest expenses, income taxes, depreciation and amortization (EBITDA) during the fiscal third quarter amounted to $6.8 million (compared with $3.9 million reported in the prior year quarter).
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It has been about a month since the last earnings report for Red Robin (RRGB). The top line declined 3.2% year over year. Meanwhile, other operating costs during the quarter declined 4.7% year over year to $50.4 million.
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715235.0
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2023-12-01 00:00:00 UTC
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AstraZeneca (AZN) to Discontinue Two Studies on Lokelma
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https://www.nasdaq.com/articles/astrazeneca-azn-to-discontinue-two-studies-on-lokelma
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AstraZeneca PLC AZN announced that it plans to discontinue an outcomes study and a chronic kidney disease (CKD) study on its hyperkaliemia (HK) drug, Lokelma.
Lokelma is approved in several countries across the globe for the treatment of HK in adults, including patients with end-stage kidney disease and hemodialysis. HK is a severe condition characterized by high levels of potassium in the blood and Lokelma is a highly selective, oral potassium-removing agent.
The phase III evidence studies — STABILIZE-CKD and DIALIZE-Outcomes — that are planned to be discontinued are part of AstraZeneca’s CRYSTALIZE evidence program.
The company decided to stop the studies mentioned above owing to the substantially increased timeline of enrollment and low event rates, which prohibited the timely delivery of data from the study to advance clinical practice meaningfully. However, the decision to discontinue the study is not due to safety concerns for Lokelma.
Shares of AstraZeneca have lost 4.7% so far this year against the industry’s growth of 4.3%.
Image Source: Zacks Investment Research
We note that the double-blind, placebo-controlled phase III STABILIZE-CKD study assessed the effect of Lokelma as an adjunct to optimized RAASi therapy on CKD progression in patients with CKD and HK or who are at risk of HK.
The double-blind, placebo-controlled phase III DIALIZE-Outcomes study evaluated the effect of Lokelma on arrhythmia-related cardiovascular outcomes in patients on chronic hemodialysis with recurrent HK.
Zacks Rank & Stocks to Consider
AstraZeneca currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the healthcare sector are CytomX Therapeutics, Inc. CTMX, Entrada Therapeutics, Inc. TRDA and Puma Biotechnology, Inc. PBYI, sporting a Zacks Rank #1 (Strong Buy) each. 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 narrowed from 37 cents to 6 cents. Meanwhile, loss per share estimates for 2024 have narrowed from 51 cents to 21 cents. Year to date, shares of CTMX have lost 13.1%.
Earnings of CytomX Therapeutics beat estimates in three of the last four quarters while missing the same on the remaining occasion. CTMX delivered a four-quarter average earnings surprise of 45.44%.
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 lost 4.1%.
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 73 cents. During the same period, earnings per share estimates for 2024 have moved up from 55 cents to 62 cents. Year to date, shares of PBYI have lost 7.8%.
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 Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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
AstraZeneca PLC (AZN) : Free Stock Analysis Report
Puma Biotechnology, Inc. (PBYI) : Free Stock Analysis Report
CytomX Therapeutics, Inc. (CTMX) : 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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Lokelma is approved in several countries across the globe for the treatment of HK in adults, including patients with end-stage kidney disease and hemodialysis. The double-blind, placebo-controlled phase III DIALIZE-Outcomes study evaluated the effect of Lokelma on arrhythmia-related cardiovascular outcomes in patients on chronic hemodialysis with recurrent HK. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
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AstraZeneca PLC AZN announced that it plans to discontinue an outcomes study and a chronic kidney disease (CKD) study on its hyperkaliemia (HK) drug, Lokelma. Some better-ranked stocks in the healthcare sector are CytomX Therapeutics, Inc. CTMX, Entrada Therapeutics, Inc. TRDA and Puma Biotechnology, Inc. PBYI, sporting a Zacks Rank #1 (Strong Buy) each. Click to get this free report AstraZeneca PLC (AZN) : Free Stock Analysis Report Puma Biotechnology, Inc. (PBYI) : Free Stock Analysis Report CytomX Therapeutics, Inc. (CTMX) : 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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Image Source: Zacks Investment Research We note that the double-blind, placebo-controlled phase III STABILIZE-CKD study assessed the effect of Lokelma as an adjunct to optimized RAASi therapy on CKD progression in patients with CKD and HK or who are at risk of HK. In the past 60 days, estimates for CytomX Therapeutics’ 2023 loss per share have narrowed from 37 cents to 6 cents. Click to get this free report AstraZeneca PLC (AZN) : Free Stock Analysis Report Puma Biotechnology, Inc. (PBYI) : Free Stock Analysis Report CytomX Therapeutics, Inc. (CTMX) : 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 CytomX Therapeutics, Inc. CTMX, Entrada Therapeutics, Inc. TRDA and Puma Biotechnology, Inc. PBYI, sporting a Zacks Rank #1 (Strong Buy) each. In the past 60 days, estimates for CytomX Therapeutics’ 2023 loss per share have narrowed from 37 cents to 6 cents. In the past 60 days, estimates for Entrada Therapeutics’ 2023 loss per share have narrowed from $2.07 to 9 cents.
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715236.0
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2023-12-01 00:00:00 UTC
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DTE Energy (DTE) Up 5.4% Since Last Earnings Report: Can It Continue?
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DCOMP
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https://www.nasdaq.com/articles/dte-energy-dte-up-5.4-since-last-earnings-report%3A-can-it-continue
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A month has gone by since the last earnings report for DTE Energy (DTE). Shares have added about 5.4% in that time frame, underperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is DTE Energy 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.
DTE Energy Q3 Earnings Miss Estimates, EPS View Down
DTE Energy Company reported third-quarter 2023 operating earnings per share (EPS) of $1.44 per share, which missed the Zacks Consensus Estimate of $1.67 by 13.8%. The bottom line also declined 10% from the year-ago quarter’s reported figure of $1.60 per share.
The company reported GAAP earnings of $1.61 per share compared with $1.99 in the prior-year quarter.
Highlights of the Release
The operating net income in the quarter was $298 million compared with $311 million in the year-ago period.
Segmental Details
Utility Operations
DTE Electric: The segment’s earnings were $1.30 per share compared with $1.80 in the prior-year quarter.
DTE Gas: The segment reported a loss of 3 cents per share compared with 12 cents in the year-ago period.
Non-Utility Operations: The segment reported operating earnings of 43 cents per share compared with 2 cents in the corresponding quarter of 2022.
2023 Guidance
DTE Energy updated its 2023 operating EPS projection. The company now expects operating EPS in the range of $5.65-$5.85, down from the prior expectation in the band of $6.09-$6.40. The Zacks Consensus Estimate for earnings is pegged at $6.18 per share, which lies above the midpoint of the company’s guided range.
How Have Estimates Been Moving Since Then?
It turns out, estimates revision have trended downward during the past month.
VGM Scores
At this time, DTE Energy 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 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
Estimates have been broadly trending downward for the stock, and the magnitude of this revision indicates a downward shift. Notably, DTE Energy 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
DTE Energy belongs to the Zacks Utility - Electric Power industry. Another stock from the same industry, FirstEnergy (FE), has gained 1% over the past month. More than a month has passed since the company reported results for the quarter ended September 2023.
FirstEnergy reported revenues of $3.49 billion in the last reported quarter, representing a year-over-year change of +0.4%. EPS of $0.88 for the same period compares with $0.79 a year ago.
FirstEnergy is expected to post earnings of $0.60 per share for the current quarter, representing a year-over-year change of +20%. Over the last 30 days, the Zacks Consensus Estimate has changed -0.7%.
FirstEnergy 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 Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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
DTE Energy Company (DTE) : Free Stock Analysis Report
FirstEnergy Corporation (FE) : 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 DTE Energy 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. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
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DTE Energy Q3 Earnings Miss Estimates, EPS View Down DTE Energy Company reported third-quarter 2023 operating earnings per share (EPS) of $1.44 per share, which missed the Zacks Consensus Estimate of $1.67 by 13.8%. Segmental Details Utility Operations DTE Electric: The segment’s earnings were $1.30 per share compared with $1.80 in the prior-year quarter. Click to get this free report DTE Energy Company (DTE) : Free Stock Analysis Report FirstEnergy Corporation (FE) : Free Stock Analysis Report To read this article on Zacks.com click here.
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DTE Energy Q3 Earnings Miss Estimates, EPS View Down DTE Energy Company reported third-quarter 2023 operating earnings per share (EPS) of $1.44 per share, which missed the Zacks Consensus Estimate of $1.67 by 13.8%. Non-Utility Operations: The segment reported operating earnings of 43 cents per share compared with 2 cents in the corresponding quarter of 2022. Click to get this free report DTE Energy Company (DTE) : Free Stock Analysis Report FirstEnergy Corporation (FE) : 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 DTE Energy (DTE). DTE Energy Q3 Earnings Miss Estimates, EPS View Down DTE Energy Company reported third-quarter 2023 operating earnings per share (EPS) of $1.44 per share, which missed the Zacks Consensus Estimate of $1.67 by 13.8%. The company reported GAAP earnings of $1.61 per share compared with $1.99 in the prior-year quarter.
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2023-12-01 00:00:00 UTC
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The AI Stocks That Will Make You Money In 2024
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https://www.nasdaq.com/articles/the-ai-stocks-that-will-make-you-money-in-2024
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
AI chip stocks like Nvidia (NVDA) were the hottest investment of 2023. In fact, NVDA stock itself has soared more than 225% this year.
But we’re rapidly approaching a new year and, with it, a new top investment idea.
Move aside, AI chip stocks. It’s time for the AI software stock boom.
Approaching AI Software Stocks’ Day in the Sun
Of course, AI will remain the central investment theme in 2024. This isn’t a passing fad. It’s an economic paradigm shift as big as the internet. And back during the dot-com boom, internet stocks didn’t fizzle after a year – they were Wall Street’s hottest stocks for an entire decade.
We believe it’ll play out the same way with AI stocks. Broadly speaking, 2023 was just the start of this boom. AI stocks will likely stay hot for the next 10 years.
But throughout the 1990s, each sub-sector of the internet industry had its time to shine during the dot-com boom. One year, it was internet infrastructure stocks like Cisco (CSCO). Another, it was internet application stocks like Amazon (AMZN). Then internet hardware makers like Microsoft (MSFT) were passed the baton.
Similarly, each sub-sector of the AI industry will have its time to shine in the 2020s AI Boom.
In 2023, AI chip stocks were the big winners because they provided the picks and shovels for the AI industry. That is, in order for companies across the globe to build AI models, they first have to buy the AI chips to run them.
It’s the “first derivative” of the AI Boom, if you will.
But we believe that trend has now played out. Everyone went on an AI chip buying spree in 2023, and now, they have the chips. What are those companies going to do now?
They’re going to build AI models and applications – which is why we expect AI software stocks will boom in 2024.
Thanks to the 2023 chip-buying frenzy, companies are fully equipped to build and deploy next-generation AI models and applications. We’ll likely see hundreds of new AI applications emerge next year. Those applications will proliferate throughout society. And by 2025, we’ll be drowning in AI software.
Next year will be the year that AI software explodes.
The Final Word
We’re already starting to see early signs of this.
Several major enterprise software makers reported quarterly earnings this past week. They pretty much all smashed expectations and provided strong early guidance for 2024. The central theme? They all plan to launch a ton of new AI software services next year. And early demand signals for those services are very strong.
This past week alone, Salesforce (CRM), Intuit (INTU), UiPath (PATH), Snowflake (SNOW), Workday (WDAY), CrowdStrike (CRWD), Zscaler (ZS), Zuora (ZUO), Elastic (ESTC), Samsara (IOT), and PagerDuty (PD) all beat quarterly revenue and earnings estimates. All provided strong guidance for 2024. And every stock popped thereafter.
I’ve been doing this stuff for a long time, and I’ve never seen something like this. Nearly every single major enterprise software firm with exposure to AI double-beat estimates this quarter and delivered strong guidance.
To us, the takeaway is crystal-clear.
An AI software spending tidal wave is coming in 2024. AI software stocks are going to soar.
And we’ve got the perfect way for you to play this boom.
Surprisingly, it isn’t an AI software stock.
Rather, it’s a different type of AI software investment – one that could yield significantly larger returns with much less volatility.
It could be the sort of investment that turns a mere $1,000 stake into millions of dollars.
Learn more now – before this investment “sells out” (which could actually be the case for these special investments).
More From InvestorPlace
ChatGPT IPO Could Shock the World, Make This Move Before the Announcement
Musk’s “Project Omega” May Be Set to Mint New Millionaires. Here’s How to Get In.
The Rich Use This Income Secret (NOT Dividends) Far More Than Regular Investors
The post The AI Stocks That Will Make You Money In 2024 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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This past week alone, Salesforce (CRM), Intuit (INTU), UiPath (PATH), Snowflake (SNOW), Workday (WDAY), CrowdStrike (CRWD), Zscaler (ZS), Zuora (ZUO), Elastic (ESTC), Samsara (IOT), and PagerDuty (PD) all beat quarterly revenue and earnings estimates. More From InvestorPlace ChatGPT IPO Could Shock the World, Make This Move Before the Announcement 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 The AI Stocks That Will Make You Money In 2024 appeared first on InvestorPlace.
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips AI chip stocks like Nvidia (NVDA) were the hottest investment of 2023. They’re going to build AI models and applications – which is why we expect AI software stocks will boom in 2024. Several major enterprise software makers reported quarterly earnings this past week.
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips AI chip stocks like Nvidia (NVDA) were the hottest investment of 2023. Approaching AI Software Stocks’ Day in the Sun Of course, AI will remain the central investment theme in 2024. They’re going to build AI models and applications – which is why we expect AI software stocks will boom in 2024.
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It’s time for the AI software stock boom. They’re going to build AI models and applications – which is why we expect AI software stocks will boom in 2024. AI software stocks are going to soar.
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2023-12-01 00:00:00 UTC
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Neogen (NEOG) Unveils New Assay for Walnut Allergens Detection
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DCOMP
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https://www.nasdaq.com/articles/neogen-neog-unveils-new-assay-for-walnut-allergens-detection
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Neogen Corporation NEOG recently introduced an advanced Veratox VIP assay for detecting walnuts. It is the third assay in Neogen's Veratox VIP line of enhanced quantitative ELISA products.
The recent launch will bolster Neogen’s Food Safety business.
More on the News
The new Veratox VIP for Walnut allergy test displays robust performance across sample types while keeping the Veratox product line's simple testing approach.
This novel quantitative test has good specificity down to 0.15 ppm walnut protein, which is one of the lowest detection limits for an ELISA kit. It can test samples from a wide range of product kinds and processing settings, including heat-processed and complex samples. Veratox VIP for Walnut has a best-in-class time-to-result of 30 minutes and ready-to-use reagents.
Benefits of New Launch
Per management, as tree nuts continue to be one of the most frequent allergens, Neogen must provide solutions that make it easier for producers to detect potential contamination and reinforce their allergen control measures. Given the highly sensitive nature of the new Veratox VIP for Walnut test, producers can be confident in Neogen's strong commitment to food safety and quality.
Industry Prospects
Per a report by Coherent Market Insight, the global food allergen testing market size was valued at $774.2 Million in 2022 and is anticipated to witness a CAGR of 8.4% from 2023 to 2030. The global food allergen testing market is expected to witness significant growth over the forecast period due to rising consumer awareness. Consumers are demanding fresh and healthier foods for which manufacturers are adopting stringent food safety standards.
Progress Within Food Safety Arm
The Neogen Food Safety segment is primarily engaged in the development, production and marketing of diagnostic test kits, culture media and related products used by food producers and processors to detect harmful natural toxins, foodborne bacteria, allergens and levels of general sanitation.
Image Source: Zacks Investment Research
Regarding the latest development, revenues in the Food Safety segment in the fiscal first quarter increased 157.2% compared to the prior year, including core growth of 4.5%. Core growth within this segment was led by the Bacterial & General Sanitation product category, which benefited from new microbiological testing business in the United States and the U.K. and solid growth in the Natural Toxins and Allergens product category.
Price Performance
In the past year, NEOG’s shares have increased 3.3% against the industry’s fall of 6.3%.
Zacks Rank and Key Picks
Neogen carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are Haemonetics HAE, Insulet PODD and DexCom DXCM. While Haemonetics and DexCom each carry a Zacks Rank #2 (Buy), Insulet currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Haemonetics’ stock has risen 11.6% in the past year. Earnings estimates for Haemonetics have increased from $3.82 to $3.86 in 2023 and $4.07 to $4.11 in 2024 in the past 30 days.
HAE’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 16.1%. In the last reported quarter, it posted an earnings surprise of 5.3%.
Estimates for Insulet’s 2023 earnings per share have increased from $1.61 to $1.90 in the past 30 days. The company's shares have plunged 40.9% in the past year compared with the industry’s decline of 7%.
PODD’s earnings surpassed estimates in all the trailing four quarters, the average surprise being 105.1%. In the last reported quarter, it delivered an average earnings surprise of 77.4%.
Estimates for DexCom’s 2023 earnings per share have increased from $1.23 to $1.41 in the past 30 days. Shares of the company have fallen 7.8% in the past year compared with the industry’s decline of 7.1%.
DXCM’s earnings surpassed estimates in all the trailing four quarters, the average surprise being 36.4%. In the last reported quarter, it delivered an average earnings surprise of 47.1%.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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
Haemonetics Corporation (HAE) : Free Stock Analysis Report
DexCom, Inc. (DXCM) : Free Stock Analysis Report
Neogen Corporation (NEOG) : Free Stock Analysis Report
Insulet Corporation (PODD) : 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 the highly sensitive nature of the new Veratox VIP for Walnut test, producers can be confident in Neogen's strong commitment to food safety and quality. The global food allergen testing market is expected to witness significant growth over the forecast period due to rising consumer awareness. Image Source: Zacks Investment Research Regarding the latest development, revenues in the Food Safety segment in the fiscal first quarter increased 157.2% compared to the prior year, including core growth of 4.5%.
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Neogen Corporation NEOG recently introduced an advanced Veratox VIP assay for detecting walnuts. While Haemonetics and DexCom each carry a Zacks Rank #2 (Buy), Insulet currently sports a Zacks Rank #1 (Strong Buy). Click to get this free report Haemonetics Corporation (HAE) : Free Stock Analysis Report DexCom, Inc. (DXCM) : Free Stock Analysis Report Neogen Corporation (NEOG) : Free Stock Analysis Report Insulet Corporation (PODD) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Progress Within Food Safety Arm The Neogen Food Safety segment is primarily engaged in the development, production and marketing of diagnostic test kits, culture media and related products used by food producers and processors to detect harmful natural toxins, foodborne bacteria, allergens and levels of general sanitation. Image Source: Zacks Investment Research Regarding the latest development, revenues in the Food Safety segment in the fiscal first quarter increased 157.2% compared to the prior year, including core growth of 4.5%. Click to get this free report Haemonetics Corporation (HAE) : Free Stock Analysis Report DexCom, Inc. (DXCM) : Free Stock Analysis Report Neogen Corporation (NEOG) : Free Stock Analysis Report Insulet Corporation (PODD) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Neogen Corporation NEOG recently introduced an advanced Veratox VIP assay for detecting walnuts. Progress Within Food Safety Arm The Neogen Food Safety segment is primarily engaged in the development, production and marketing of diagnostic test kits, culture media and related products used by food producers and processors to detect harmful natural toxins, foodborne bacteria, allergens and levels of general sanitation. Estimates for Insulet’s 2023 earnings per share have increased from $1.61 to $1.90 in the past 30 days.
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2023-12-01 00:00:00 UTC
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Annovis Bio (ANVS) Stock Surges 38% in a Month: Here's Why
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DCOMP
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https://www.nasdaq.com/articles/annovis-bio-anvs-stock-surges-38-in-a-month%3A-heres-why
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Annovis Bio ANVS is a clinical-stage drug platform company addressing neurodegenerative diseases, such as Alzheimer’s Disease (AD) and Parkinson’s Disease (PD).
The company’s lead product candidate is buntanetap (formerly ANVS402 or posiphen), an investigational, oral translational inhibitor of neurotoxic aggregating proteins. This mode of action is expected to lead to a lower level of neurotoxic proteins and, consequently, less toxicity in the brain.
Currently, buntanetap is being evaluated in a late-stage study in early PD patients. The drug is also being evaluated in a phase II/III study in mild-to-moderate AD patients.
Since last month, shares of Annovis Bio have soared 37.8% compared to the industry’s 0.2% rise.
Image Source: Zacks Investment Research
This upside came after management reported that it exceeded complete enrolment in the phase II/III study evaluating the efficacy, safety, and tolerability of buntanetap in AD indication over a 12-week treatment period. This study, designed by Annovis to enroll 320 patients, has screened more than 700 patients and enrolled a total of 353 patients.
The study is designed to assess cognition and activities of daily living in AD patients receiving either three doses of buntanetap (7.5mg, 15mg or 30mg) or a placebo on top of their standard of care for 12 weeks. This will be measured by changesfrom baseline to the end of treatment in AD Assessment Scale-Cognitive Subscale 11 (ADAS-Cog11) and AD Cooperative Study Clinician’s Global Impression of Change (ADCS-CGIC), the co-primary endpoints of the study.
Annovis expects to report data from this study by the end of March 2024.
Per management, unlike other AD drugs — which target only one neurotoxin protein and only have a minor effect — buntanetap is designed to reduce levels of multiple neurotoxic proteins, namely amyloid beta, tau, alpha-synuclein and TDP43. By attacking multiple neurotoxic proteins, the Annovis Bio drug is likely to demonstrate the ability to reverse the destructive effects that a neurodegenerative disease like AD has on thinking and memory.
Apart from AD, management also intends to report data from the phase III study in PD patients by next month. Annovis intends to submit regulatory filings to the FDA for buntanetap in AD and PD indications by 2026-end.
The AD target market is highly competitive as several other pharma companies like Biogen BIIB and Eli Lilly LLY have their drugs targeting the AD indication. The AD drugs of these companies have either recently been approved for use or are under regulatory review development.
This July, the FDA granted full approval to Biogen’s AD drug Leqembi (lecanemab). Following approval, the Biogen drug is the first and only approved anti-amyloid antibody treatment shown to reduce the rate of disease progression and slow cognitive impairment in the early and mild dementia stages of AD indication. Since Biogen’s Leqembi received full/standard approval from the FDA, it is eligible for broader Medicare coverage. Such coverage is crucial for a wider rollout of treatment.
Eli Lilly developed donanemab, its antibody therapy for AD. In June, Lilly reported positive data from the phase III TRAILBLAZER-ALZ 2 study that showed that treatment with donanemab significantly slowed cognitive and functional decline in people with early symptomatic AD. Based on this result, Eli Lilly has submitted regulatory applications with the FDA and EMA for the drug to treat AD. A final decision in the United States is expected in first-quarter 2024.
The successful development of the above AD drugs raised investors’ hopes for other companies with AD candidates in their pipeline.
With no marketed drugs in its portfolio, Annovis is entirely dependent on the successful development of buntanetap. Management is also evaluating a subcutaneous formulation of the candidate in preclinical studies for traumatic brain injury and stroke. Any pipeline/regulatory setbacks in buntanetap development will mar Annovis’ growth prospects. Apart from buntanetap, the company is evaluating ANVS301 in an early-stage study to treat advanced AD.
Annovis Bio, Inc. Price
Annovis Bio, Inc. price | Annovis Bio, Inc. Quote
Zacks Rank & A Key Pick
Annovis Bio currently carries a Zacks Rank #3 (Hold). A better-ranked stock in the overall healthcare sector is CytomX Therapeutics CTMX, 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 6 cents. During the same period, the loss estimates per share for 2024 have narrowed from 51 cents to 21 cents. Shares of CytomX have lost 13.1% 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%.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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
Biogen Inc. (BIIB) : Free Stock Analysis Report
Eli Lilly and Company (LLY) : Free Stock Analysis Report
CytomX Therapeutics, Inc. (CTMX) : Free Stock Analysis Report
Annovis Bio, Inc. (ANVS) : 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: Zacks Investment Research This upside came after management reported that it exceeded complete enrolment in the phase II/III study evaluating the efficacy, safety, and tolerability of buntanetap in AD indication over a 12-week treatment period. By attacking multiple neurotoxic proteins, the Annovis Bio drug is likely to demonstrate the ability to reverse the destructive effects that a neurodegenerative disease like AD has on thinking and memory. In June, Lilly reported positive data from the phase III TRAILBLAZER-ALZ 2 study that showed that treatment with donanemab significantly slowed cognitive and functional decline in people with early symptomatic AD.
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Annovis Bio, Inc. Price Annovis Bio, Inc. price | Annovis Bio, Inc. Quote Zacks Rank & A Key Pick Annovis Bio currently carries a Zacks Rank #3 (Hold). In the last reported quarter, CytomX Therapeutics’ earnings beat estimates by 123.53%. Click to get this free report Biogen Inc. (BIIB) : Free Stock Analysis Report Eli Lilly and Company (LLY) : Free Stock Analysis Report CytomX Therapeutics, Inc. (CTMX) : Free Stock Analysis Report Annovis Bio, Inc. (ANVS) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Image Source: Zacks Investment Research This upside came after management reported that it exceeded complete enrolment in the phase II/III study evaluating the efficacy, safety, and tolerability of buntanetap in AD indication over a 12-week treatment period. Annovis Bio, Inc. Price Annovis Bio, Inc. price | Annovis Bio, Inc. Quote Zacks Rank & A Key Pick Annovis Bio currently carries a Zacks Rank #3 (Hold). Click to get this free report Biogen Inc. (BIIB) : Free Stock Analysis Report Eli Lilly and Company (LLY) : Free Stock Analysis Report CytomX Therapeutics, Inc. (CTMX) : Free Stock Analysis Report Annovis Bio, Inc. (ANVS) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Image Source: Zacks Investment Research This upside came after management reported that it exceeded complete enrolment in the phase II/III study evaluating the efficacy, safety, and tolerability of buntanetap in AD indication over a 12-week treatment period. Annovis expects to report data from this study by the end of March 2024. The AD drugs of these companies have either recently been approved for use or are under regulatory review development.
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abd509a7-808e-4f8e-814b-f1c4e20995da
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715240.0
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2023-12-01 00:00:00 UTC
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Toronto-Dominion (TD) Q4 Earnings Decline on Higher Provisions
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DCOMP
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https://www.nasdaq.com/articles/toronto-dominion-td-q4-earnings-decline-on-higher-provisions
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Toronto-Dominion Bank TD reported fiscal fourth-quarter (ended Oct 31) and 2023 results. Quarterly adjusted net income of C$3.51 billion ($2.58 billion) decreased 13.8% from the prior-year quarter.
Results were adversely impacted by higher expenses and a rise in provision for credit losses. Nonetheless, a rise in adjusted revenues and a strong balance sheet position acted as tailwinds during the quarter.
Net income of C$2.89 billion ($2.13 billion) decreased 56.7% year over year.
Adjusted Revenues & Expenses Rise
Quarterly adjusted revenues came in at C$13.19 billion ($9.71 billion), increasing 7.7% on a year-over-year basis.
Net interest income (NII) declined 1.8% year over year to C$7.49 billion ($5.52 billion). Non-interest income of C$5.63 billion ($4.14 billion) decreased 29.1% year over year.
Adjusted non-interest expenses rose 12.6% year over year to C$7.24 billion ($5.33 billion).
The adjusted efficiency ratio was 54.9% as of Oct 31, 2023, up from 52.5% recorded in the prior-year period.
In the reported quarter, Toronto-Dominion recorded a provision of credit losses of C$878 million ($646.6 million) compared with C$617 million recorded in the year-ago quarter.
Balance Sheet Solid
Total assets were C$1.96 trillion ($1.41 trillion) as of Oct 31, 2023, rising 3.7% from the end of the third quarter of fiscal 2023. Net loans rose 3.2% on a sequential basis to C$895.9 billion ($646.68 billion) and deposits increased 3.3% to C$1.20 trillion ($0.86 trillion).
Capital Ratios & Profitability Ratio Weaken
As of Oct 31, 2023, the common equity Tier I capital ratio was 14.4%, down from 16.2% as of Oct 31, 2022. The total capital ratio was 18.1% compared with the prior-year quarter's 20.7%.
Toronto-Dominion’s return on common equity (on an adjusted basis) was 13%, down from 16% a year ago.
Concurrent with the earnings release, TD announced a cash dividend of C$1.02 per share, indicating a sequential rise of 6.3%. The dividend will be paid out on Jan 31, 2024, to shareholders of record as of Jan 10, 2024.
Also, in a move to reduce its cost base and achieve greater efficiency, the bank undertook certain measures in the fourth quarter of fiscal 2023. As a result of these measures, it incurred C$363 million of restructuring charges, which primarily relate to employee severance and other personnel-related costs, real estate optimization and asset impairments. In addition, TD is also axing 3% of its full-time equivalent workforce.
Management expects to incur additional restructuring charges in the first half of 2024.
Our Take
Supported by a diverse geographical presence, Toronto-Dominion’s efforts toward improving revenues and market share, both organically and inorganically, seem impressive. Also, high interest rates will support the company’s financials.
Toronto Dominion Bank (The) Price, Consensus and EPS Surprise
Toronto Dominion Bank (The) price-consensus-eps-surprise-chart | Toronto Dominion Bank (The) Quote
TD currently carries a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other Foreign Banks
The Bank of Nova Scotia BNS reported fiscal fourth-quarter (ended Oct 31) and fiscal 2023 results. Adjusted net income was C$1.67 billion ($1.23 billion), which declined 36% year over year. Results excluded certain one-time items.
A rise in expenses, a significant surge in provisions for credit losses and a lower loan balance hurt the results. However, higher non-interest income, net interest income and solid capital ratios were tailwinds.
Mitsubishi UFJ Financial Group, Inc. MUFG reported profits attributable to owners of the parent for the first half of fiscal 2024 (ended Sep 30) of ¥927.3 billion ($6.42 billion), up significantly year over year.
Increased gross profits, a rise in net fees and commissions and net trading profits acted as tailwinds. Also, a rise in loan and deposit balances was positive. On the flip side, a decline in NII was a dampener.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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
Toronto Dominion Bank (The) (TD) : Free Stock Analysis Report
Bank of Nova Scotia (The) (BNS) : Free Stock Analysis Report
Mitsubishi UFJ Financial Group, Inc. (MUFG) : 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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Also, in a move to reduce its cost base and achieve greater efficiency, the bank undertook certain measures in the fourth quarter of fiscal 2023. As a result of these measures, it incurred C$363 million of restructuring charges, which primarily relate to employee severance and other personnel-related costs, real estate optimization and asset impairments. Our Take Supported by a diverse geographical presence, Toronto-Dominion’s efforts toward improving revenues and market share, both organically and inorganically, seem impressive.
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Performance of Other Foreign Banks The Bank of Nova Scotia BNS reported fiscal fourth-quarter (ended Oct 31) and fiscal 2023 results. However, higher non-interest income, net interest income and solid capital ratios were tailwinds. Click to get this free report Toronto Dominion Bank (The) (TD) : Free Stock Analysis Report Bank of Nova Scotia (The) (BNS) : Free Stock Analysis Report Mitsubishi UFJ Financial Group, Inc. (MUFG) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Net interest income (NII) declined 1.8% year over year to C$7.49 billion ($5.52 billion). Adjusted net income was C$1.67 billion ($1.23 billion), which declined 36% year over year. Click to get this free report Toronto Dominion Bank (The) (TD) : Free Stock Analysis Report Bank of Nova Scotia (The) (BNS) : Free Stock Analysis Report Mitsubishi UFJ Financial Group, Inc. (MUFG) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Adjusted Revenues & Expenses Rise Quarterly adjusted revenues came in at C$13.19 billion ($9.71 billion), increasing 7.7% on a year-over-year basis. In the reported quarter, Toronto-Dominion recorded a provision of credit losses of C$878 million ($646.6 million) compared with C$617 million recorded in the year-ago quarter. Adjusted net income was C$1.67 billion ($1.23 billion), which declined 36% year over year.
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715241.0
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2023-12-01 00:00:00 UTC
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5 Best Performing Stocks of the Top ETF of November
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https://www.nasdaq.com/articles/5-best-performing-stocks-of-the-top-etf-of-november
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ARK Innovation ETF ARKK, which provides thematic multi-cap exposure to innovation across sectors, has gained 35.2%, becoming the best-performing ETF of November.
The technology sector roared back last month and dominated the stock market rally once again. This surge is primarily driven by a decline in yields on optimism that the Fed’s aggressive interest rate hike campaign might be nearing an end. Yields on U.S. Treasuries saw the biggest monthly drop since 2008, leading to risk-on trade. High expectations for artificial intelligence continued to add to the strength.
Most stocks in ARKK’s portfolio delivered strong returns in November. Coinbase COIN, CRISPR Therapeutics AG CRSP, Block SQ, Twist Bioscience Corporation TWST and Roku ROKU led the way.
The growing optimism that the Fed may halt rate hikes and avert a recession has renewed investor interest in major technology and internet stocks. According to the CME FedWatch Tool, market participants expect a 95.6% probability that the central bank will keep interest rates at current levels through its January meeting. There is a more than 50% probability of a rate cut of at least 25 bps by May.
As the tech sector relies on borrowing for superior growth, it is cheaper to borrow more money for initiatives when interest rates are low. In particular, companies like Microsoft Corp. MSFT and Nvidia Corp. NVDA, which are at the forefront of artificial intelligence (AI) evolution, have been the biggest contributors.
Hedge funds' upsurge in big tech investments further led to the sector’s rally. Per the latest regulatory filing, several hedge funds expanded their bets on big technology stocks, including Amazon AMZN, Microsoft and Meta Platforms META (read: Billionaires Bullish on Big Tech: ETFs in Focus).
The expansion of AI applications holds the promise of ushering in opportunities for growth within the sector. The global digital shift has accelerated e-commerce for everything, ranging from remote working to entertainment and shopping, thereby bolstering strength in the sector. The rapid adoption of cloud computing, big data, the Internet of Things, wearables, VR headsets, drones, virtual reality, machine learning, digital communication, blockchain and 5G technology will continue to fuel a rally.
Further, the tech titans have strong balance sheets, durable revenue streams and robust profit margins, making them attractive investments. They are better positioned to withstand a possible economic downturn and have demonstrated improved cost discipline.
Let’s take a closer look at the fundamentals of ARKK.
ARKK in Focus
ARK Innovation ETF is an actively managed fund investing in companies that benefit from the development of products or services, technological improvements, and advancements in scientific research related to the areas of DNA Technologies and Genomic Revolution, Automation, Robotics, Energy Storage, Artificial Intelligence, Next Generation Internet and Fintech Innovation. In total, the fund holds 33 securities in its basket, with some concentration on the top firms (read: 5 Sector ETFs That Beat the Market in November).
ARK Innovation ETF has gathered $8.3 billion in its asset base and charges 75 bps in fees per year from investors. It trades in an average daily volume of 16.6 million shares.
Best-Performing Stocks of ARKK
Coinbase is the largest U.S. cryptocurrency exchange, trading some 50 different digital assets. The stock has soared 47.4% in a month and accounts for an 11.3% share in the ETF.
Coinbase has an estimated earnings growth of 91.7% this year. It currently has a Zacks Rank #2 (Buy) and a Momentum Score of B. You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
CRISPR Therapeutics is a leading gene editing company focused on developing CRISPR/Cas9-based therapeutics. The company is rapidly leveraging its CRISPR/Cas9 gene-editing platform to make therapies for the treatment of hemoglobinopathies, cancer, diabetes and other diseases. The stock gained 44.5% in November and accounts for a 4.7% share in the ETF.
CRISPR Therapeutics has an estimated earnings growth rate of 59.7% for this year. It presently has a Zacks Rank #2 and a Momentum Score of A.
Block, formerly known as Square, offers financial and marketing services through its comprehensive commerce ecosystem that helps sellers start, run and grow their businesses. The stock has gained 44.2% last month and accounts for a 6% share in the ETF.
Block has an estimated earnings growth of 90% this year. It currently has a Zacks Rank #2 and a Momentum Score of B (read: Tech Turns Hot, ETFs Touch New 52-Week Highs).
Twist Bioscience operates as a biotechnology company. It offers synthetic DNA-based products, including synthetic genes, tools for sample preparation, antibody libraries for drug discovery and development, and DNA as a digital data storage medium. It rallied 38.9% in November and makes up for 1.1% of TWST’s portfolio.
Twist Bioscience has an estimated earnings growth rate of 16.02% for the fiscal year ending September 2024 and a Zacks Rank #3 (Hold) at present. It has a solid Momentum Score of A.
Roku is the leading TV streaming platform provider in the United States based on hours streamed. The stock has gained 33.5% last month and accounted for 9.1% in the fund’s basket.
Roku’s earnings are expected to decline 38.4% for this year. It currently has a Zacks Rank #3 and a solid Growth Score of B.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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
Microsoft Corporation (MSFT) : Free Stock Analysis Report
NVIDIA Corporation (NVDA) : Free Stock Analysis Report
Block, Inc. (SQ) : Free Stock Analysis Report
ARK Innovation ETF (ARKK): ETF Research Reports
CRISPR Therapeutics AG (CRSP) : Free Stock Analysis Report
Roku, Inc. (ROKU) : Free Stock Analysis Report
Twist Bioscience Corporation (TWST) : 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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The growing optimism that the Fed may halt rate hikes and avert a recession has renewed investor interest in major technology and internet stocks. The rapid adoption of cloud computing, big data, the Internet of Things, wearables, VR headsets, drones, virtual reality, machine learning, digital communication, blockchain and 5G technology will continue to fuel a rally. Block, formerly known as Square, offers financial and marketing services through its comprehensive commerce ecosystem that helps sellers start, run and grow their businesses.
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Coinbase COIN, CRISPR Therapeutics AG CRSP, Block SQ, Twist Bioscience Corporation TWST and Roku ROKU led the way. Per the latest regulatory filing, several hedge funds expanded their bets on big technology stocks, including Amazon AMZN, Microsoft and Meta Platforms META (read: Billionaires Bullish on Big Tech: ETFs in Focus). Click to get this free report Amazon.com, Inc. (AMZN) : Free Stock Analysis Report Microsoft Corporation (MSFT) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report Block, Inc. (SQ) : Free Stock Analysis Report ARK Innovation ETF (ARKK): ETF Research Reports CRISPR Therapeutics AG (CRSP) : Free Stock Analysis Report Roku, Inc. (ROKU) : Free Stock Analysis Report Twist Bioscience Corporation (TWST) : 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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ARKK in Focus ARK Innovation ETF is an actively managed fund investing in companies that benefit from the development of products or services, technological improvements, and advancements in scientific research related to the areas of DNA Technologies and Genomic Revolution, Automation, Robotics, Energy Storage, Artificial Intelligence, Next Generation Internet and Fintech Innovation. It currently has a Zacks Rank #3 and a solid Growth Score of B. Zacks Names "Single Best Pick to Double" From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. Click to get this free report Amazon.com, Inc. (AMZN) : Free Stock Analysis Report Microsoft Corporation (MSFT) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report Block, Inc. (SQ) : Free Stock Analysis Report ARK Innovation ETF (ARKK): ETF Research Reports CRISPR Therapeutics AG (CRSP) : Free Stock Analysis Report Roku, Inc. (ROKU) : Free Stock Analysis Report Twist Bioscience Corporation (TWST) : 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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Hedge funds' upsurge in big tech investments further led to the sector’s rally. CRISPR Therapeutics has an estimated earnings growth rate of 59.7% for this year. Twist Bioscience has an estimated earnings growth rate of 16.02% for the fiscal year ending September 2024 and a Zacks Rank #3 (Hold) at present.
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5c5983ef-4d7a-453e-bd06-ab3c5fb92b4e
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715242.0
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2023-12-01 00:00:00 UTC
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Noteworthy ETF Inflows: XLB, SHW, APD, FCX
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https://www.nasdaq.com/articles/noteworthy-etf-inflows%3A-xlb-shw-apd-fcx
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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 Materials Select Sector SPDR Fund (Symbol: XLB) where we have detected an approximate $276.1 million dollar inflow -- that's a 5.0% increase week over week in outstanding units (from 66,670,000 to 70,020,000). Among the largest underlying components of XLB, in trading today Sherwin-Williams Co (Symbol: SHW) is up about 0.4%, Air Products & Chemicals Inc (Symbol: APD) is trading flat, and Freeport-McMoran Copper & Gold (Symbol: FCX) is higher by about 3.6%. For a complete list of holdings, visit the XLB Holdings page » The chart below shows the one year price performance of XLB, versus its 200 day moving average:
Looking at the chart above, XLB's low point in its 52 week range is $74.33 per share, with $85.90 as the 52 week high point — that compares with a last trade of $82.65. 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 Ten Hedge Funds Holding ALVR
VIR Insider Buying
Institutional Holders of PSTR
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 Materials Select Sector SPDR Fund (Symbol: XLB) where we have detected an approximate $276.1 million dollar inflow -- that's a 5.0% increase week over week in outstanding units (from 66,670,000 to 70,020,000). 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 had notable inflows » Also see: Top Ten Hedge Funds Holding ALVR VIR Insider Buying Institutional Holders of PSTR 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 XLB, in trading today Sherwin-Williams Co (Symbol: SHW) is up about 0.4%, Air Products & Chemicals Inc (Symbol: APD) is trading flat, and Freeport-McMoran Copper & Gold (Symbol: FCX) is higher by about 3.6%. For a complete list of holdings, visit the XLB Holdings page » The chart below shows the one year price performance of XLB, versus its 200 day moving average: Looking at the chart above, XLB's low point in its 52 week range is $74.33 per share, with $85.90 as the 52 week high point — that compares with a last trade of $82.65. 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 The Materials Select Sector SPDR Fund (Symbol: XLB) where we have detected an approximate $276.1 million dollar inflow -- that's a 5.0% increase week over week in outstanding units (from 66,670,000 to 70,020,000). For a complete list of holdings, visit the XLB Holdings page » The chart below shows the one year price performance of XLB, versus its 200 day moving average: Looking at the chart above, XLB's low point in its 52 week range is $74.33 per share, with $85.90 as the 52 week high point — that compares with a last trade of $82.65. 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 Materials Select Sector SPDR Fund (Symbol: XLB) where we have detected an approximate $276.1 million dollar inflow -- that's a 5.0% increase week over week in outstanding units (from 66,670,000 to 70,020,000). For a complete list of holdings, visit the XLB Holdings page » The chart below shows the one year price performance of XLB, versus its 200 day moving average: Looking at the chart above, XLB's low point in its 52 week range is $74.33 per share, with $85.90 as the 52 week high point — that compares with a last trade of $82.65. Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''.
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2a523880-ac39-4f4a-930b-ff29af937478
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715243.0
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2023-12-01 00:00:00 UTC
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Culp (CULP) to Report Q2 Earnings: Here's What to Expect
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DCOMP
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https://www.nasdaq.com/articles/culp-culp-to-report-q2-earnings%3A-heres-what-to-expect
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Culp, Inc. CULP is scheduled to report second-quarter fiscal 2024 results on Dec 4, after market close.
In the last reported quarter, the company’s earnings topped the Zacks Consensus Estimate by 31.4% and surged 42.6% year over year. Net sales missed the consensus mark by 5.1% and declined by 9.5% year over year.
CULP’s earnings topped the consensus mark in all of the trailing four quarters, the positive average surprise being 16.3%.
The Trend in Estimate Revision
For the quarter to be reported, the Zacks Consensus Estimate for earnings per share remained stable at a loss of 20 cents in the past seven days. The estimated figure indicates an improvement of 79.8% from the year-ago quarter’s level of negative 99 cents.
Culp, Inc. Price and EPS Surprise
Culp, Inc. price-eps-surprise | Culp, Inc. Quote
The consensus mark for net sales is pegged at $57.8 million, suggesting a 1% fall from the year-ago reported figure.
Key Factors to Note
Culp’s fiscal second-quarter net sales are expected to have declined year over year due to persistent challenges in the domestic mattress and residential home furnishings industries. The ongoing impact of current macroeconomic conditions, influencing consumer spending and demand trends, are added concerns. This is likely to impact the upholstery fabrics segment in the to-be-reported quarter.
The company is well-positioned for the long term. The transformation strategy in its mattress fabrics division, new programs and improved operations are expected to partially offset the adverse effects of the headwinds. The company anticipates consolidated net sales for the second quarter to be in line with the prior-year period’s levels.
Despite top-line woes, the company expects consolidated operating loss to be in the range of $2.2-$2.6 million. This marks a significant improvement compared with the $11.9 million operating loss in the prior-year period. The bottom line is likely to have benefited from enhanced operating efficiencies, a positive product mix and reduced costs resulting from restructuring and rationalization in specific units.
What the Zacks Model Unveils
Our proven model doesn’t conclusively predict an earnings beat for Culp this time. That is because a stock needs to have both a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) for this to happen. This is not the case here, as elaborated below.
Earnings ESP: The company has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: CULP carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Recent Consumer Discretionary Releases
SeaWorld Entertainment, Inc. SEAS reported mixed third-quarter 2023 results, with earnings meeting the Zacks Consensus Estimate and revenues topping the same. On the other hand, the metrics declined on a year-over-year basis.
The company’s results were affected by adverse weather impacts during its peak operating season across most of its markets, reflecting lower guest attendance. That said, the company intends to focus on its strategic growth initiatives related to hotels, international expansion and digital activities accompanied by increasing its in-park product offerings and cost management plans. These initiatives are likely to aid it in boosting revenues and profitability in the upcoming period.
Choice Hotels International, Inc. CHH delivered mixed third-quarter 2023 results, with earnings missing the Zacks Consensus Estimate and revenues beating the same. Also, the top and the bottom line increased on a year-over-year basis.
The year-over-year upside can be attributed to the company’s top-tier business delivery engine, synergies through the successful integration of Radisson Americas and organic growth of its brand portfolio, focused on hotels that generate higher royalties per unit. The company aims to remain focused on its robust organic earnings growth strategy and pursues inorganic growth to boost long-term shareholders’ value.
Wynn Resorts, Limited WYNN reported impressive third-quarter 2023 results, with earnings and revenues surpassing the Zacks Consensus Estimate. Also, the top and the bottom line rose year over year.
The company’s results reflect solid performance growth in its Macau and North American properties. The consistent growth trend in mass gaming, luxury retail and hotel businesses in Macau portrayed exceptional post-Covid recovery during the quarter. It is also optimistic about its new opening in the UAE, Wynn Al Marjan Island, which is currently under construction.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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
Wynn Resorts, Limited (WYNN) : Free Stock Analysis Report
Choice Hotels International, Inc. (CHH) : Free Stock Analysis Report
SeaWorld Entertainment, Inc. (SEAS) : Free Stock Analysis Report
Culp, Inc. (CULP) : 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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Recent Consumer Discretionary Releases SeaWorld Entertainment, Inc. SEAS reported mixed third-quarter 2023 results, with earnings meeting the Zacks Consensus Estimate and revenues topping the same. That said, the company intends to focus on its strategic growth initiatives related to hotels, international expansion and digital activities accompanied by increasing its in-park product offerings and cost management plans. The year-over-year upside can be attributed to the company’s top-tier business delivery engine, synergies through the successful integration of Radisson Americas and organic growth of its brand portfolio, focused on hotels that generate higher royalties per unit.
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Recent Consumer Discretionary Releases SeaWorld Entertainment, Inc. SEAS reported mixed third-quarter 2023 results, with earnings meeting the Zacks Consensus Estimate and revenues topping the same. Choice Hotels International, Inc. CHH delivered mixed third-quarter 2023 results, with earnings missing the Zacks Consensus Estimate and revenues beating the same. Click to get this free report Wynn Resorts, Limited (WYNN) : Free Stock Analysis Report Choice Hotels International, Inc. (CHH) : Free Stock Analysis Report SeaWorld Entertainment, Inc. (SEAS) : Free Stock Analysis Report Culp, Inc. (CULP) : Free Stock Analysis Report To read this article on Zacks.com click here.
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In the last reported quarter, the company’s earnings topped the Zacks Consensus Estimate by 31.4% and surged 42.6% year over year. The Trend in Estimate Revision For the quarter to be reported, the Zacks Consensus Estimate for earnings per share remained stable at a loss of 20 cents in the past seven days. Click to get this free report Wynn Resorts, Limited (WYNN) : Free Stock Analysis Report Choice Hotels International, Inc. (CHH) : Free Stock Analysis Report SeaWorld Entertainment, Inc. (SEAS) : Free Stock Analysis Report Culp, Inc. (CULP) : Free Stock Analysis Report To read this article on Zacks.com click here.
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In the last reported quarter, the company’s earnings topped the Zacks Consensus Estimate by 31.4% and surged 42.6% year over year. Net sales missed the consensus mark by 5.1% and declined by 9.5% year over year. The Trend in Estimate Revision For the quarter to be reported, the Zacks Consensus Estimate for earnings per share remained stable at a loss of 20 cents in the past seven days.
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d4b2b2a4-bfb6-40a6-a3e2-6c59d436faca
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715244.0
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2023-12-01 00:00:00 UTC
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BSJP, PIZ: Big ETF Outflows
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DCOMP
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https://www.nasdaq.com/articles/bsjp-piz%3A-big-etf-outflows
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Looking at units outstanding versus one week prior within the universe of ETFs covered at ETF Channel, the biggest outflow was seen in the Invesco BulletShares 2025 High Yield Corporate Bond ETF, where 9,810,000 units were destroyed, or a 17.8% decrease week over week.
And on a percentage change basis, the ETF with the biggest outflow was the Invesco Dorsey Wright Developed Markets Momentum ETF, which lost 2,650,000 of its units, representing a 37.9% decline in outstanding units compared to the week prior. Among the largest underlying components of PIZ, in morning trading today Constellation Software is trading flat, and Avino Silver is higher by about 0.9%.
VIDEO: BSJP, PIZ: Big ETF Outflows
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 at units outstanding versus one week prior within the universe of ETFs covered at ETF Channel, the biggest outflow was seen in the Invesco BulletShares 2025 High Yield Corporate Bond ETF, where 9,810,000 units were destroyed, or a 17.8% decrease week over week. And on a percentage change basis, the ETF with the biggest outflow was the Invesco Dorsey Wright Developed Markets Momentum ETF, which lost 2,650,000 of its units, representing a 37.9% decline in outstanding units compared to the week prior. VIDEO: BSJP, PIZ: Big ETF Outflows 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 at units outstanding versus one week prior within the universe of ETFs covered at ETF Channel, the biggest outflow was seen in the Invesco BulletShares 2025 High Yield Corporate Bond ETF, where 9,810,000 units were destroyed, or a 17.8% decrease week over week. And on a percentage change basis, the ETF with the biggest outflow was the Invesco Dorsey Wright Developed Markets Momentum ETF, which lost 2,650,000 of its units, representing a 37.9% decline in outstanding units compared to the week prior. VIDEO: BSJP, PIZ: Big ETF Outflows 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 at units outstanding versus one week prior within the universe of ETFs covered at ETF Channel, the biggest outflow was seen in the Invesco BulletShares 2025 High Yield Corporate Bond ETF, where 9,810,000 units were destroyed, or a 17.8% decrease week over week. And on a percentage change basis, the ETF with the biggest outflow was the Invesco Dorsey Wright Developed Markets Momentum ETF, which lost 2,650,000 of its units, representing a 37.9% decline in outstanding units compared to the week prior. Among the largest underlying components of PIZ, in morning trading today Constellation Software is trading flat, and Avino Silver is higher by about 0.9%.
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Looking at units outstanding versus one week prior within the universe of ETFs covered at ETF Channel, the biggest outflow was seen in the Invesco BulletShares 2025 High Yield Corporate Bond ETF, where 9,810,000 units were destroyed, or a 17.8% decrease week over week. And on a percentage change basis, the ETF with the biggest outflow was the Invesco Dorsey Wright Developed Markets Momentum ETF, which lost 2,650,000 of its units, representing a 37.9% decline in outstanding units compared to the week prior. Among the largest underlying components of PIZ, in morning trading today Constellation Software is trading flat, and Avino Silver is higher by about 0.9%.
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715245.0
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2023-12-01 00:00:00 UTC
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Cracker Barrel (CBRL) Q1 Earnings & Revenues Miss Estimates
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DCOMP
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https://www.nasdaq.com/articles/cracker-barrel-cbrl-q1-earnings-revenues-miss-estimates
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Cracker Barrel Old Country Store, Inc. CBRL reported first-quarter fiscal 2024 results, with earnings and revenues missing the Zacks Consensus Estimate. The top and the bottom line declined year over year. Following the results, shares of the company dropped 10.6% during trading hours on Nov 30.
Earnings & Revenues
In first-quarter fiscal 2024, the company reported adjusted earnings per share (EPS) of 51 cents, missing the Zacks Consensus Estimate of 78 cents. In the prior-year quarter, it reported adjusted EPS of 99 cents.
Quarterly revenues of $823.8 million missed the consensus mark of $831 million. The top line fell 1.9% year over year. The downside was primarily driven by weak consumer sentiments and lower restaurant traffic.
Cracker Barrel Old Country Store, Inc. Price, Consensus and EPS Surprise
Cracker Barrel Old Country Store, Inc. price-consensus-eps-surprise-chart | Cracker Barrel Old Country Store, Inc. Quote
Comps Details
Comparable store restaurant sales inched down 0.5% in the reported quarter compared with the same period in fiscal 2023. Comparable store retail sales declined 8.1% year over year. During the quarter, menu pricing increases came in at 6.8% year over year.
Operating Highlights
During the fiscal first quarter, the cost of goods sold (excluding depreciation and rent) came in at $255.6 million, down 9% year over year. As a percentage of total revenues, the cost of goods sold (excluding depreciation and rent) fell 250 basis points (bps) year over year to 31%. Per our model, the metric was anticipated at 33.3%.
General and administrative expenses totaled $48.7 million, up from $45.9 million reported in the prior-year quarter. Our projection for the metric was $44.8 million.
Adjusted operating income in the fiscal first quarter totaled $19 million, down from $30 million reported in the year-ago quarter. Our projection for the metric was $23.4 million.
Adjusted operating margin was 2.3%, down 130 bps from the prior-year quarter’s levels. The downside was mainly due to a rise in labor and related expenditures, other operating expenses and general and administrative costs. This was partially offset by the lower cost of goods sold.
Balance Sheet
As of Oct 27, 2023, cash and cash equivalents were $13.9 million, down from $38.7 million as of Oct 28, 2022.
Inventory at the fiscal first-quarter end reached $207.3 million compared with $231 million reported in the prior-year period.
Long-term debt was $475.3 million compared with $483.7 million in the year-ago period.
CBRL declared a cash dividend of $1.30 per share. The dividend will be paid out on Feb 13, 2024, to shareholders on record as of Jan 19, 2024.
2024 Guidance
For fiscal 2024, the company expects revenues in the range of $3.4-$3.5 billion. Adjusted operating income is anticipated to be between $130 and $150 million.
Management projects commodity inflation in the low-single digits. Hourly wage inflation is suggested to be in the mid-single digits
Coming to store openings, CBRL aims to open two new Cracker Barrel units and nine-11 new Maple Street Biscuit company units during the fiscal year. Capital expenditures during the quarter are envisioned in the range of $120-$135 million.
Zacks Rank & Other Key Picks
Cracker Barrel currently has a Zacks Rank #2 (Buy).
Some other top-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 45.9% 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 8.6% 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 declined 15.4% 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 Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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
Cracker Barrel Old Country Store, Inc. (CBRL) : Free Stock Analysis Report
Brinker International, Inc. (EAT) : 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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Cracker Barrel Old Country Store, Inc. CBRL reported first-quarter fiscal 2024 results, with earnings and revenues missing the Zacks Consensus Estimate. 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. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
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Cracker Barrel Old Country Store, Inc. CBRL reported first-quarter fiscal 2024 results, with earnings and revenues missing the Zacks Consensus Estimate. Cracker Barrel Old Country Store, Inc. Price, Consensus and EPS Surprise Cracker Barrel Old Country Store, Inc. price-consensus-eps-surprise-chart | Cracker Barrel Old Country Store, Inc. Quote Comps Details Comparable store restaurant sales inched down 0.5% in the reported quarter compared with the same period in fiscal 2023. Click to get this free report Cracker Barrel Old Country Store, Inc. (CBRL) : Free Stock Analysis Report Brinker International, Inc. (EAT) : 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 first-quarter fiscal 2024, the company reported adjusted earnings per share (EPS) of 51 cents, missing the Zacks Consensus Estimate of 78 cents. Cracker Barrel Old Country Store, Inc. Price, Consensus and EPS Surprise Cracker Barrel Old Country Store, Inc. price-consensus-eps-surprise-chart | Cracker Barrel Old Country Store, Inc. Quote Comps Details Comparable store restaurant sales inched down 0.5% in the reported quarter compared with the same period in fiscal 2023. Click to get this free report Cracker Barrel Old Country Store, Inc. (CBRL) : Free Stock Analysis Report Brinker International, Inc. (EAT) : 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 first-quarter fiscal 2024, the company reported adjusted earnings per share (EPS) of 51 cents, missing the Zacks Consensus Estimate of 78 cents. Comparable store retail sales declined 8.1% year over year. Operating Highlights During the fiscal first quarter, the cost of goods sold (excluding depreciation and rent) came in at $255.6 million, down 9% year over year.
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715246.0
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2023-12-01 00:00:00 UTC
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DELL Q3 Earnings Beat Estimates, Lower Storage Hurt Revenues
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https://www.nasdaq.com/articles/dell-q3-earnings-beat-estimates-lower-storage-hurt-revenues
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Dell Technologies DELL reported third-quarter fiscal 2024 non-GAAP earnings of $1.88 per share, beating the Zacks Consensus Estimate by 27.89%. The bottom line declined 18% year over year.
Revenues, on a non-GAAP basis, decreased 10% year over year to $22.25 billion and lagged the consensus mark by 2.91%. Recurring revenues increased 4% year over year to $5.6 billion.
Product revenues decreased 14% year over year to $16.23 billion. The company witnessed increased pricing pressure in the reported quarter.
Services revenues rose 4% year over year to $6.02 billion.
Dell Technologies Inc. Price, Consensus and EPS Surprise
Dell Technologies Inc. price-consensus-eps-surprise-chart | Dell Technologies Inc. Quote
Dell shares were down 5.48% in after-hours trading following the results. Shares have gained 88.6% year to date compared with the Zacks Computer & Technology sector’s return of 45.1%.
Top-Line Detail
Infrastructure Solutions Group (“ISG”) revenues declined 12% year over year to $8.499 billion.
The downside can be attributed to a 10% decrease in servers and networking revenues that totaled $4.66 billion. Storage revenues fell 13% year over year to $3.84 billion.
Orders roughly doubled sequentially and increased to approximately 33% of Dell’s server orders revenues in the reported quarter.
AI-optimized server backlog approximately doubled on a sequential basis. Dell’s multi-billion-dollar sales pipeline is substantially higher compared with the end of the fiscal second quarter.
Client Solutions Group (“CSG”) revenues were $12.28 billion, down 11% year over year. Commercial revenues declined 8% year over year to $9.84 billion. Consumer revenues were down 19% to $2.44 billion.
Operating Details
Dell’s fiscal third-quarter non-GAAP gross profit decreased 10% year over year to $5.28 billion. The gross margin stayed at 23.7%.
SG&A expenses declined 15% year over year to $3.27 billion. Research and development expenses were up 4% year over year to $677 million in the reported quarter.
Non-GAAP operating expenses decreased 5% year over year to $3.31 billion. Operating expenses, as a percentage of revenues, increased 80 bps on a year-over-year basis to 14.9%.
The non-GAAP operating income was $1.96 billion, down 17% year over year. The operating margin contracted 80 bps year over year to 8.8%.
The ISG segment’s operating income decreased 22% year over year to $1.07 billion. Meanwhile, the CSG segment’s operating income was $925 million, down 13% year over year.
Balance Sheet
As of Nov 3, 2023, DELL had $8.298 billion in cash and cash equivalents.
Debt was $26.617 billion as of Nov 3, 2023.
The company generated a cash flow of $2.2 billion in the fiscal third quarter.
Dell returned $744 million to its shareholders through share repurchases and paid $266 million in dividends.
Guidance
For the fourth quarter of fiscal 2024, revenues are expected between $21.5 billion and $22.5 billion.
Sequentially, Dell expects ISG revenues to increase mid-single digits, driven by sequential growth in traditional servers and seasonal growth in storage. It expects CSG revenues to be down low-single digits sequentially.
Earnings are expected to be $1.70 per share (+/- 10 cents).
For fiscal 2024, earnings are expected to be $6.63 per share (+/- 10 cents).
Zacks Rank & Stocks to Consider
Dell currently has a Zacks Rank #3 (Hold).
ASANA ASAN, Science Applications International SAIC and Adobe ADBE are some better-ranked stocks that investors can consider in the broader sector, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
ASANA shares have gained 48.9% year to date. ASAN is set to report its third-quarter fiscal 2024 results on Dec 5.
Science Applications International shares have declined 5.8% year to date. SAIC is set to report its third-quarter fiscal 2024 results on Dec 4.
Adobe shares have returned 81.5% year to date. ADBE is set to report its fourth-quarter fiscal 2023 results on Dec 13.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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
Dell Technologies Inc. (DELL) : Free Stock Analysis Report
Adobe Inc. (ADBE) : Free Stock Analysis Report
Science Applications International Corporation (SAIC) : Free Stock Analysis Report
Asana, Inc. (ASAN) : 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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Dell’s multi-billion-dollar sales pipeline is substantially higher compared with the end of the fiscal second quarter. ASANA ASAN, Science Applications International SAIC and Adobe ADBE are some better-ranked stocks that investors can consider in the broader sector, each carrying a Zacks Rank #2 (Buy). With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
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Dell Technologies DELL reported third-quarter fiscal 2024 non-GAAP earnings of $1.88 per share, beating the Zacks Consensus Estimate by 27.89%. Operating Details Dell’s fiscal third-quarter non-GAAP gross profit decreased 10% year over year to $5.28 billion. Click to get this free report Dell Technologies Inc. (DELL) : Free Stock Analysis Report Adobe Inc. (ADBE) : Free Stock Analysis Report Science Applications International Corporation (SAIC) : Free Stock Analysis Report Asana, Inc. (ASAN) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Recurring revenues increased 4% year over year to $5.6 billion. Operating Details Dell’s fiscal third-quarter non-GAAP gross profit decreased 10% year over year to $5.28 billion. Click to get this free report Dell Technologies Inc. (DELL) : Free Stock Analysis Report Adobe Inc. (ADBE) : Free Stock Analysis Report Science Applications International Corporation (SAIC) : Free Stock Analysis Report Asana, Inc. (ASAN) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Dell Technologies DELL reported third-quarter fiscal 2024 non-GAAP earnings of $1.88 per share, beating the Zacks Consensus Estimate by 27.89%. Recurring revenues increased 4% year over year to $5.6 billion. Research and development expenses were up 4% year over year to $677 million in the reported quarter.
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2023-12-01 00:00:00 UTC
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Academy Sports (ASO) Q3 Earnings & Revenues Lag Estimates
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https://www.nasdaq.com/articles/academy-sports-aso-q3-earnings-revenues-lag-estimates
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Academy Sports and Outdoors, Inc. ASO reported dismal third-quarter fiscal 2023 results, with earnings and revenues missing the Zacks Consensus Estimate. Also, the top and the bottom line declined on a year-over-year basis. The downside was primarily caused by weakening consumer sentiment and a lack of a natural shopping calendar event. Also, softer sales in fall seasonal categories added to the downside.
Earnings & Revenues Details
During the fiscal third quarter, the company reported adjusted earnings per share (EPS) of $1.38, missing the Zacks Consensus Estimate of $1.64. In the prior-year quarter, ASO reported an adjusted EPS of $1.67.
Quarterly revenues of $1,397.8 million missed the Zacks Consensus Estimate of $1,455 million by 3.9%. The top line fell 6.4% on a year-over-year basis. The downside was mainly caused by a fall in comparable sales.
Academy Sports and Outdoors, Inc. Price, Consensus and EPS Surprise
Academy Sports and Outdoors, Inc. price-consensus-eps-surprise-chart | Academy Sports and Outdoors, Inc. Quote
Comparable sales during the quarter declined 8% year over year compared with a 7.2% fall reported in the prior-year quarter. The downside was caused by an 8.1% year-over-year decline in transactions. However, this was partially offset by a slight increase in ticket size.
Operating Highlights
During the fiscal third quarter, Selling, general and administrative expenses came in at $345.9 million compared with $342.9 million reported in the prior-year quarter. The upside can be attributed to a rise in investments in the areas of new stores, omnichannel, supply chain and customer data.
Gross margins during the quarter declined 50 basis points year over year to 34.5%. Softer sales with respect to the high-margin fall seasonal products added to the downside.
Adjusted net income during the quarter came in at $104.7 million compared with $136.3 million reported in the prior-year quarter.
Adjusted EBITDA in the fiscal third quarter came in at $174.5 million compared with $214.9 million reported in the prior-year quarter.
Balance Sheet
As of Oct 28, 2023, cash and cash equivalents totaled $274.8 million compared with $318.2 million on Oct 29, 2022.
Merchandise inventories during the quarter came in at $1,492.2 million compared with $1,495.5 million reported in the prior-year period.
As of Oct 28, 2023, the long-term debt net stood at $583.4 million compared with $682.8 million reported in the prior-year quarter.
The company declared a cash dividend of 9 cents per share. The dividend will be paid out on Jan 10, 2024, to shareholders on record as of Dec 13, 2023.
Fiscal 2023 Outlook
For the fiscal 2023, the company expects net sales to be $6.1-$6.2 billion. The company expects comparable sales to decline between 7.5% and 6.5% on a year-over-year basis.
The gross margin rate in fiscal 2023 is expected to be between 34% and 34.2%. Capital expenditures during the year are anticipated in the range of $175-$225 million. The company expects 2023 adjusted net income to be between $545 million and $555 million in the fiscal 2023.
Adjusted free cash flow during the year is expected to be between $300 million and $350 million. The company anticipates 2023 Adjusted EPS to be in the range of $7.05-$7.20 compared with the prior projection of $6.95-$7.65.
Zacks Rank & Key Picks
Academy Sports currently has a Zacks Rank #3 (Hold).
Some better-ranked stocks in the Zacks Consumer Discretionary sector are:
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 77.6% 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 EPS indicates a rise of 57.7% and 187.9%, respectively, from the year-ago period’s levels.
Live Nation Entertainment, Inc. LYV sports a Zacks Rank #1. The company has a trailing four-quarter earnings surprise of 37.5% on average. Shares of LYV have increased 13.9% 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 36.3% 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 Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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
Live Nation Entertainment, Inc. (LYV) : Free Stock Analysis Report
Academy Sports and Outdoors, Inc. (ASO) : 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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Academy Sports and Outdoors, Inc. ASO reported dismal third-quarter fiscal 2023 results, with earnings and revenues missing the Zacks Consensus Estimate. 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. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
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Earnings & Revenues Details During the fiscal third quarter, the company reported adjusted earnings per share (EPS) of $1.38, missing the Zacks Consensus Estimate of $1.64. Academy Sports and Outdoors, Inc. Price, Consensus and EPS Surprise Academy Sports and Outdoors, Inc. price-consensus-eps-surprise-chart | Academy Sports and Outdoors, Inc. Quote Comparable sales during the quarter declined 8% year over year compared with a 7.2% fall reported in the prior-year quarter. 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 Live Nation Entertainment, Inc. (LYV) : Free Stock Analysis Report Academy Sports and Outdoors, Inc. (ASO) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Earnings & Revenues Details During the fiscal third quarter, the company reported adjusted earnings per share (EPS) of $1.38, missing the Zacks Consensus Estimate of $1.64. Academy Sports and Outdoors, Inc. Price, Consensus and EPS Surprise Academy Sports and Outdoors, Inc. price-consensus-eps-surprise-chart | Academy Sports and Outdoors, Inc. Quote Comparable sales during the quarter declined 8% year over year compared with a 7.2% fall reported in the prior-year quarter. 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 Live Nation Entertainment, Inc. (LYV) : Free Stock Analysis Report Academy Sports and Outdoors, Inc. (ASO) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Earnings & Revenues Details During the fiscal third quarter, the company reported adjusted earnings per share (EPS) of $1.38, missing the Zacks Consensus Estimate of $1.64. Gross margins during the quarter declined 50 basis points year over year to 34.5%. Free: See Our Top Stock and 4 Runners Up >> Want the latest recommendations from Zacks Investment Research?
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5858a643-cc33-446c-9b7a-d3f66375a3ad
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715248.0
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2023-12-01 00:00:00 UTC
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RPV, PHM, WRK, PARA: Large Inflows Detected at ETF
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DCOMP
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https://www.nasdaq.com/articles/rpv-phm-wrk-para%3A-large-inflows-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 Invesco S&P 500— Pure Value ETF (Symbol: RPV) where we have detected an approximate $239.8 million dollar inflow -- that's a 17.5% increase week over week in outstanding units (from 17,870,000 to 21,000,000). Among the largest underlying components of RPV, in trading today PulteGroup Inc (Symbol: PHM) is up about 1.2%, WestRock Co (Symbol: WRK) is up about 1.6%, and Paramount Global (Symbol: PARA) is up by about 4.3%. For a complete list of holdings, visit the RPV Holdings page » The chart below shows the one year price performance of RPV, versus its 200 day moving average:
Looking at the chart above, RPV's low point in its 52 week range is $67.69 per share, with $90.04 as the 52 week high point — that compares with a last trade of $77.06. 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 ».
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:
VII shares outstanding history
WNRL Videos
PFD Average Annual Return
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: VII shares outstanding history WNRL Videos PFD Average Annual Return 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 RPV, in trading today PulteGroup Inc (Symbol: PHM) is up about 1.2%, WestRock Co (Symbol: WRK) is up about 1.6%, and Paramount Global (Symbol: PARA) is up by about 4.3%. For a complete list of holdings, visit the RPV Holdings page » The chart below shows the one year price performance of RPV, versus its 200 day moving average: Looking at the chart above, RPV's low point in its 52 week range is $67.69 per share, with $90.04 as the 52 week high point — that compares with a last trade of $77.06. 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 ».
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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 Invesco S&P 500— Pure Value ETF (Symbol: RPV) where we have detected an approximate $239.8 million dollar inflow -- that's a 17.5% increase week over week in outstanding units (from 17,870,000 to 21,000,000). For a complete list of holdings, visit the RPV Holdings page » The chart below shows the one year price performance of RPV, versus its 200 day moving average: Looking at the chart above, RPV's low point in its 52 week range is $67.69 per share, with $90.04 as the 52 week high point — that compares with a last trade of $77.06. 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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Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the Invesco S&P 500— Pure Value ETF (Symbol: RPV) where we have detected an approximate $239.8 million dollar inflow -- that's a 17.5% increase week over week in outstanding units (from 17,870,000 to 21,000,000). For a complete list of holdings, visit the RPV Holdings page » The chart below shows the one year price performance of RPV, versus its 200 day moving average: Looking at the chart above, RPV's low point in its 52 week range is $67.69 per share, with $90.04 as the 52 week high point — that compares with a last trade of $77.06. 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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3a83f42c-909d-4228-8bb9-b61eb2c84c2c
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715249.0
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2023-12-01 00:00:00 UTC
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IJH, RS, GDDY, MANH: ETF Inflow Alert
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DCOMP
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https://www.nasdaq.com/articles/ijh-rs-gddy-manh%3A-etf-inflow-alert
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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 iShares Core S&P Mid-Cap ETF (Symbol: IJH) where we have detected an approximate $204.9 million dollar inflow -- that's a 0.3% increase week over week in outstanding units (from 280,300,000 to 281,100,000). Among the largest underlying components of IJH, in trading today Reliance Steel & Aluminum Co. (Symbol: RS) is up about 1.1%, GoDaddy Inc (Symbol: GDDY) is off about 0.7%, and Manhattan Associates, Inc. (Symbol: MANH) is higher by about 0.6%. For a complete list of holdings, visit the IJH Holdings page » The chart below shows the one year price performance of IJH, versus its 200 day moving average:
Looking at the chart above, IJH's low point in its 52 week range is $231.49 per share, with $273.73 as the 52 week high point — that compares with a last trade of $257.74. 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:
Berry Global Gr Historical PE Ratio
Top Ten Hedge Funds Holding FSL
DYNS 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: Berry Global Gr Historical PE Ratio Top Ten Hedge Funds Holding FSL DYNS 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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Among the largest underlying components of IJH, in trading today Reliance Steel & Aluminum Co. (Symbol: RS) is up about 1.1%, GoDaddy Inc (Symbol: GDDY) is off about 0.7%, and Manhattan Associates, Inc. (Symbol: MANH) is higher by about 0.6%. For a complete list of holdings, visit the IJH Holdings page » The chart below shows the one year price performance of IJH, versus its 200 day moving average: Looking at the chart above, IJH's low point in its 52 week range is $231.49 per share, with $273.73 as the 52 week high point — that compares with a last trade of $257.74. 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 iShares Core S&P Mid-Cap ETF (Symbol: IJH) where we have detected an approximate $204.9 million dollar inflow -- that's a 0.3% increase week over week in outstanding units (from 280,300,000 to 281,100,000). For a complete list of holdings, visit the IJH Holdings page » The chart below shows the one year price performance of IJH, versus its 200 day moving average: Looking at the chart above, IJH's low point in its 52 week range is $231.49 per share, with $273.73 as the 52 week high point — that compares with a last trade of $257.74. 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 iShares Core S&P Mid-Cap ETF (Symbol: IJH) where we have detected an approximate $204.9 million dollar inflow -- that's a 0.3% increase week over week in outstanding units (from 280,300,000 to 281,100,000). Among the largest underlying components of IJH, in trading today Reliance Steel & Aluminum Co. (Symbol: RS) is up about 1.1%, GoDaddy Inc (Symbol: GDDY) is off about 0.7%, and Manhattan Associates, Inc. (Symbol: MANH) is higher by about 0.6%. 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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91c6f13e-2698-449f-90ba-f0d69f137cd1
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715250.0
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2023-12-01 00:00:00 UTC
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S&P 500 Movers: PFE, ULTA
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DCOMP
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https://www.nasdaq.com/articles/sp-500-movers%3A-pfe-ulta
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nan
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nan
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In early trading on Friday, shares of Ulta Beauty topped the list of the day's best performing components of the S&P 500 index, trading up 10.1%. Year to date, Ulta Beauty has not really moved.
And the worst performing S&P 500 component thus far on the day is Pfizer, trading down 6.5%. Pfizer is lower by about 44.4% looking at the year to date performance.
Two other components making moves today are Moderna, trading down 2.6%, and United Rentals, trading up 2.4% on the day.
VIDEO: S&P 500 Movers: PFE, ULTA
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 Friday, shares of Ulta Beauty topped the list of the day's best performing components of the S&P 500 index, trading up 10.1%. And the worst performing S&P 500 component thus far on the day is Pfizer, trading down 6.5%. VIDEO: S&P 500 Movers: PFE, ULTA 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 Friday, shares of Ulta Beauty topped the list of the day's best performing components of the S&P 500 index, trading up 10.1%. Year to date, Ulta Beauty has not really moved. And the worst performing S&P 500 component thus far on the day is Pfizer, trading down 6.5%.
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In early trading on Friday, shares of Ulta Beauty topped the list of the day's best performing components of the S&P 500 index, trading up 10.1%. And the worst performing S&P 500 component thus far on the day is Pfizer, trading down 6.5%. Two other components making moves today are Moderna, trading down 2.6%, and United Rentals, trading up 2.4% on the day.
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In early trading on Friday, shares of Ulta Beauty topped the list of the day's best performing components of the S&P 500 index, trading up 10.1%. Year to date, Ulta Beauty has not really moved. And the worst performing S&P 500 component thus far on the day is Pfizer, trading down 6.5%.
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27fa0090-7c9c-4246-8547-d79c83566a35
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715251.0
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2023-12-01 00:00:00 UTC
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Friday 12/1 Insider Buying Report: AGL, FMC
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DCOMP
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https://www.nasdaq.com/articles/friday-12-1-insider-buying-report%3A-agl-fmc
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nan
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nan
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As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy -- they expect to make money. So let's look at two noteworthy recent insider buys.
On Wednesday, Agilon Health's Director, Jeffrey A. Schwaneke, made a $250,206 purchase of AGL, buying 22,300 shares at a cost of $11.22 a piece. Agilon Health is trading up about 4.9% on the day Friday.
And on Monday, Director Robert C. Pallash purchased $201,786 worth of FMC, purchasing 3,845 shares at a cost of $52.48 each. This buy marks the first one filed by Pallash in the past twelve months. FMC is trading up about 0.5% on the day Friday. Pallash was up about 3.0% on the purchase at the high point of today's trading session, with FMC trading as high as $54.03 in trading on Friday.
VIDEO: Friday 12/1 Insider Buying Report: AGL, FMC
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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On Wednesday, Agilon Health's Director, Jeffrey A. Schwaneke, made a $250,206 purchase of AGL, buying 22,300 shares at a cost of $11.22 a piece. This buy marks the first one filed by Pallash in the past twelve months. VIDEO: Friday 12/1 Insider Buying Report: AGL, FMC 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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And on Monday, Director Robert C. Pallash purchased $201,786 worth of FMC, purchasing 3,845 shares at a cost of $52.48 each. Pallash was up about 3.0% on the purchase at the high point of today's trading session, with FMC trading as high as $54.03 in trading on Friday. VIDEO: Friday 12/1 Insider Buying Report: AGL, FMC 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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On Wednesday, Agilon Health's Director, Jeffrey A. Schwaneke, made a $250,206 purchase of AGL, buying 22,300 shares at a cost of $11.22 a piece. Pallash was up about 3.0% on the purchase at the high point of today's trading session, with FMC trading as high as $54.03 in trading on Friday. VIDEO: Friday 12/1 Insider Buying Report: AGL, FMC 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 the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy -- they expect to make money. Agilon Health is trading up about 4.9% on the day Friday. Pallash was up about 3.0% on the purchase at the high point of today's trading session, with FMC trading as high as $54.03 in trading on Friday.
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6a7ddae2-4531-47f8-bca5-e986c6333f62
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715252.0
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2023-12-01 00:00:00 UTC
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Noteworthy ETF Inflows: MOAT, K, VEEV, PII
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DCOMP
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https://www.nasdaq.com/articles/noteworthy-etf-inflows%3A-moat-k-veev-pii-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 Morningstar Wide Moat ETF (Symbol: MOAT) where we have detected an approximate $103.2 million dollar inflow -- that's a 0.9% increase week over week in outstanding units (from 147,250,000 to 148,550,000). Among the largest underlying components of MOAT, in trading today Kellanova (Symbol: K) is off about 0.8%, Veeva Systems Inc (Symbol: VEEV) is up about 1.2%, and Polaris Inc (Symbol: PII) is higher by about 1.4%. For a complete list of holdings, visit the MOAT Holdings page » The chart below shows the one year price performance of MOAT, versus its 200 day moving average:
Looking at the chart above, MOAT's low point in its 52 week range is $63.59 per share, with $83.87 as the 52 week high point — that compares with a last trade of $79.35. 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:
Institutional Holders of ICE
ABCD YTD Return
HTHT YTD Return
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: Institutional Holders of ICE ABCD YTD Return HTHT YTD Return 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 Morningstar Wide Moat ETF (Symbol: MOAT) where we have detected an approximate $103.2 million dollar inflow -- that's a 0.9% increase week over week in outstanding units (from 147,250,000 to 148,550,000). Among the largest underlying components of MOAT, in trading today Kellanova (Symbol: K) is off about 0.8%, Veeva Systems Inc (Symbol: VEEV) is up about 1.2%, and Polaris Inc (Symbol: PII) is higher by about 1.4%. For a complete list of holdings, visit the MOAT Holdings page » The chart below shows the one year price performance of MOAT, versus its 200 day moving average: Looking at the chart above, MOAT's low point in its 52 week range is $63.59 per share, with $83.87 as the 52 week high point — that compares with a last trade of $79.35.
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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 Morningstar Wide Moat ETF (Symbol: MOAT) where we have detected an approximate $103.2 million dollar inflow -- that's a 0.9% increase week over week in outstanding units (from 147,250,000 to 148,550,000). For a complete list of holdings, visit the MOAT Holdings page » The chart below shows the one year price performance of MOAT, versus its 200 day moving average: Looking at the chart above, MOAT's low point in its 52 week range is $63.59 per share, with $83.87 as the 52 week high point — that compares with a last trade of $79.35. 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 Morningstar Wide Moat ETF (Symbol: MOAT) where we have detected an approximate $103.2 million dollar inflow -- that's a 0.9% increase week over week in outstanding units (from 147,250,000 to 148,550,000). For a complete list of holdings, visit the MOAT Holdings page » The chart below shows the one year price performance of MOAT, versus its 200 day moving average: Looking at the chart above, MOAT's low point in its 52 week range is $63.59 per share, with $83.87 as the 52 week high point — that compares with a last trade of $79.35. 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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cc3f9e88-a3d8-4135-b007-36b1cd255f50
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715253.0
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2023-12-01 00:00:00 UTC
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XHB, WSM, CSL, TT: ETF Outflow Alert
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DCOMP
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https://www.nasdaq.com/articles/xhb-wsm-csl-tt%3A-etf-outflow-alert
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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 SPDR S&P Homebuilders ETF (Symbol: XHB) where we have detected an approximate $66.4 million dollar outflow -- that's a 4.6% decrease week over week (from 17,250,000 to 16,450,000). Among the largest underlying components of XHB, in trading today Williams Sonoma Inc (Symbol: WSM) is up about 1.2%, Carlisle Companies Inc. (Symbol: CSL) is up about 1.1%, and Trane Technologies plc (Symbol: TT) is lower by about 0.1%. For a complete list of holdings, visit the XHB Holdings page » The chart below shows the one year price performance of XHB, versus its 200 day moving average:
Looking at the chart above, XHB's low point in its 52 week range is $59.44 per share, with $85.13 as the 52 week high point — that compares with a last trade of $83.68. 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:
ATEN Dividend History
Top Ten Hedge Funds Holding GREE
TG 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 experienced notable outflows » Also see: ATEN Dividend History Top Ten Hedge Funds Holding GREE TG 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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For a complete list of holdings, visit the XHB Holdings page » The chart below shows the one year price performance of XHB, versus its 200 day moving average: Looking at the chart above, XHB's low point in its 52 week range is $59.44 per share, with $85.13 as the 52 week high point — that compares with a last trade of $83.68. 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 SPDR S&P Homebuilders ETF (Symbol: XHB) where we have detected an approximate $66.4 million dollar outflow -- that's a 4.6% decrease week over week (from 17,250,000 to 16,450,000). For a complete list of holdings, visit the XHB Holdings page » The chart below shows the one year price performance of XHB, versus its 200 day moving average: Looking at the chart above, XHB's low point in its 52 week range is $59.44 per share, with $85.13 as the 52 week high point — that compares with a last trade of $83.68. 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 SPDR S&P Homebuilders ETF (Symbol: XHB) where we have detected an approximate $66.4 million dollar outflow -- that's a 4.6% decrease week over week (from 17,250,000 to 16,450,000). For a complete list of holdings, visit the XHB Holdings page » The chart below shows the one year price performance of XHB, versus its 200 day moving average: Looking at the chart above, XHB's low point in its 52 week range is $59.44 per share, with $85.13 as the 52 week high point — that compares with a last trade of $83.68. Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''.
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266e8a42-0c58-4105-9c0c-5bf0627fd1f3
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715254.0
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2023-12-01 00:00:00 UTC
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Notable ETF Outflow Detected - SDY, MMM, O, KVUE
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DCOMP
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https://www.nasdaq.com/articles/notable-etf-outflow-detected-sdy-mmm-o-kvue
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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 SPDR S&P Dividend ETF (Symbol: SDY) where we have detected an approximate $65.8 million dollar outflow -- that's a 0.3% decrease week over week (from 168,700,000 to 168,150,000). Among the largest underlying components of SDY, in trading today 3M Co (Symbol: MMM) is off about 0.2%, Realty Income Corp (Symbol: O) is up about 0.3%, and Kenvue Inc (Symbol: KVUE) is lower by about 0.1%. For a complete list of holdings, visit the SDY Holdings page » The chart below shows the one year price performance of SDY, versus its 200 day moving average:
Looking at the chart above, SDY's low point in its 52 week range is $109.8725 per share, with $132.50 as the 52 week high point — that compares with a last trade of $119.90. 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:
ASMB Videos
WSO market cap history
Funds Holding RRC
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: ASMB Videos WSO market cap history Funds Holding RRC 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 SDY Holdings page » The chart below shows the one year price performance of SDY, versus its 200 day moving average: Looking at the chart above, SDY's low point in its 52 week range is $109.8725 per share, with $132.50 as the 52 week high point — that compares with a last trade of $119.90. 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 SPDR S&P Dividend ETF (Symbol: SDY) where we have detected an approximate $65.8 million dollar outflow -- that's a 0.3% decrease week over week (from 168,700,000 to 168,150,000). For a complete list of holdings, visit the SDY Holdings page » The chart below shows the one year price performance of SDY, versus its 200 day moving average: Looking at the chart above, SDY's low point in its 52 week range is $109.8725 per share, with $132.50 as the 52 week high point — that compares with a last trade of $119.90. 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 SPDR S&P Dividend ETF (Symbol: SDY) where we have detected an approximate $65.8 million dollar outflow -- that's a 0.3% decrease week over week (from 168,700,000 to 168,150,000). For a complete list of holdings, visit the SDY Holdings page » The chart below shows the one year price performance of SDY, versus its 200 day moving average: Looking at the chart above, SDY's low point in its 52 week range is $109.8725 per share, with $132.50 as the 52 week high point — that compares with a last trade of $119.90. Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''.
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3b149fca-2ecd-4e04-86cc-5abe1d728f78
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715255.0
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2023-12-01 00:00:00 UTC
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Nevro's (NVRO) Latest Buyout to Boost SI Joint Pain Treatment
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DCOMP
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https://www.nasdaq.com/articles/nevros-nvro-latest-buyout-to-boost-si-joint-pain-treatment
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nan
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nan
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Nevro Corp. NVRO recently acquired Vyrsa Technologies (Vyrsa). The transaction was signed and closed on Nov 30, 2023.
Vyrsa is a privately-held medical technology company focused on a minimally invasive treatment option for patients suffering from chronic sacroiliac joint (SI Joint) pain.
Per the terms of the transaction, apart from Nevro paying $40 million at closing, it has agreed to pay up to an additional $35 million in cash or stock tied to the achievement of certain development and sales milestones.
Vyrsa is expected to be accretive to Nevro in 2024 for both revenue and AEBITDA.
The latest acquisition is expected to strengthen Nevro’s foothold in the SI joint treatment space.
Rationale Behind the Buyout
Per Nevro’s estimates, the U.S. SI joint fusion market is valued at more than $2 billion and is expected to grow by double digits over the next several years. Currently, it is the only SI joint company that manufactures and supports a complete portfolio of FDA-cleared, innovative SI Joint fusion devices.
Nevro’s management believes that Vyrsa's comprehensive product suite will likely allow physicians to personalize therapy to specific patient needs. Vyrsa's implants are also expected to provide optimal stability and enhance the opportunity for the SI joint to fuse, providing relief to patients suffering from chronic SI joint pain.
Industry Prospects
Per a report by Grand View Research, the global SI Joint fusion market size was valued at $721.2 million in 2023 and is projected to grow at a CAGR of 19.8% between 2024 and 2030. Factors like the increasing prevalence of pain in the lower back, technological advancements and rising incidence of sacroiliitis or sacroiliac joint dysfunction are likely to drive the market.
Given the market potential, the latest acquisition is expected to significantly boost Nevro’s business.
Notable Developments
Last month, Nevro announced the publication of new 24-month data from the SENZA Nonsurgical Refractory Back Pain (NSRBP) multicenter randomized controlled trial in the Journal of Neurosurgery: Spine. The published 24-month data assessed results for NSRBP patients treated with Nevro's high-frequency (10 kHz) spinal cord stimulation system plus conventional medical management (CMM) against CMM alone.
The same month, Nevro reported its third-quarter 2023 results, wherein it registered a solid improvement in overall top-line results. The company also recorded robust domestic revenues. An uptick in total U.S. permanent implant procedures and U.S. trial procedures was seen. The improvement in U.S. Painful Diabetic Neuropathy trial procedures was also encouraging.
In September, Nevro announced the publication of new data validating the health economic benefits of its 10 kHz Therapy.
Price Performance
Shares of the company have lost 61.7% in the past year compared with the industry’s 7.6% decline. The S&P 500 has witnessed 12.4% growth in the said time frame.
Image Source: Zacks Investment Research
Zacks Rank & Other Key Picks
Currently, Nevro carries a Zacks Rank #2 (Buy).
A few other top-ranked stocks in the broader medical space are DaVita Inc. DVA, Cardinal Health, Inc. CAH and Integer Holdings Corporation ITGR.
DaVita, sporting a Zacks Rank #1 (Strong Buy), has an estimated long-term growth rate of 18.3%. DVA’s earnings surpassed estimates in all the trailing four quarters, with an average surprise of 36.6%. You can see the complete list of today’s Zacks #1 Rank stocks here.
DaVita’s shares have gained 36.5% compared with the industry’s 1% rise in the past year.
Cardinal Health, carrying a Zacks Rank of 2 at present, has an estimated long-term growth rate of 15.2%. CAH’s earnings surpassed estimates in all the trailing four quarters, with an average of 15.7%.
Cardinal Health’s shares have gained 32.4% compared with the industry’s 6.8% rise in the past year.
Integer Holdings, flaunting a Zacks Rank of 1 at present, has an estimated long-term growth rate of 15.8%. ITGR’s earnings surpassed estimates in all the trailing four quarters, the average surprise being 11.9%.
Integer Holdings’ shares have rallied 19.1% against the industry’s 7.6% decline in the past year.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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
DaVita Inc. (DVA) : Free Stock Analysis Report
Cardinal Health, Inc. (CAH) : Free Stock Analysis Report
Nevro Corp. (NVRO) : Free Stock Analysis Report
Integer Holdings Corporation (ITGR) : 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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Industry Prospects Per a report by Grand View Research, the global SI Joint fusion market size was valued at $721.2 million in 2023 and is projected to grow at a CAGR of 19.8% between 2024 and 2030. Factors like the increasing prevalence of pain in the lower back, technological advancements and rising incidence of sacroiliitis or sacroiliac joint dysfunction are likely to drive the market. Notable Developments Last month, Nevro announced the publication of new 24-month data from the SENZA Nonsurgical Refractory Back Pain (NSRBP) multicenter randomized controlled trial in the Journal of Neurosurgery: Spine.
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Image Source: Zacks Investment Research Zacks Rank & Other Key Picks Currently, Nevro carries a Zacks Rank #2 (Buy). A few other top-ranked stocks in the broader medical space are DaVita Inc. DVA, Cardinal Health, Inc. CAH and Integer Holdings Corporation ITGR. Click to get this free report DaVita Inc. (DVA) : Free Stock Analysis Report Cardinal Health, Inc. (CAH) : Free Stock Analysis Report Nevro Corp. (NVRO) : Free Stock Analysis Report Integer Holdings Corporation (ITGR) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Rationale Behind the Buyout Per Nevro’s estimates, the U.S. SI joint fusion market is valued at more than $2 billion and is expected to grow by double digits over the next several years. Image Source: Zacks Investment Research Zacks Rank & Other Key Picks Currently, Nevro carries a Zacks Rank #2 (Buy). Click to get this free report DaVita Inc. (DVA) : Free Stock Analysis Report Cardinal Health, Inc. (CAH) : Free Stock Analysis Report Nevro Corp. (NVRO) : Free Stock Analysis Report Integer Holdings Corporation (ITGR) : Free Stock Analysis Report To read this article on Zacks.com click here.
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The latest acquisition is expected to strengthen Nevro’s foothold in the SI joint treatment space. You can see the complete list of today’s Zacks #1 Rank stocks here. This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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da36b5a3-3b56-4e8b-9dcb-2ea6110861af
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715256.0
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2023-12-01 00:00:00 UTC
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iShares MSCI EAFE Value ETF Experiences Big Outflow
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DCOMP
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https://www.nasdaq.com/articles/ishares-msci-eafe-value-etf-experiences-big-outflow-2
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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 iShares MSCI EAFE Value ETF (Symbol: EFV) where we have detected an approximate $141.5 million dollar outflow -- that's a 0.8% decrease week over week (from 334,800,000 to 332,000,000). Among the largest underlying components of EFV, in trading today AerCap Holdings NV (Symbol: AER) is up about 1.6%, Coca-Cola Europacific Partners plc (Symbol: CCEP) is off about 1.1%, and Teva Pharmaceutical Industries Ltd (Symbol: TEVA) is lower by about 0.5%. For a complete list of holdings, visit the EFV Holdings page » The chart below shows the one year price performance of EFV, versus its 200 day moving average:
Looking at the chart above, EFV's low point in its 52 week range is $44.7894 per share, with $51.2453 as the 52 week high point — that compares with a last trade of $50.80. 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:
Services Stocks Hedge Funds Are Buying
CLRG market cap history
Institutional Holders of BOFI
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: Services Stocks Hedge Funds Are Buying CLRG market cap history Institutional Holders of BOFI 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 EFV Holdings page » The chart below shows the one year price performance of EFV, versus its 200 day moving average: Looking at the chart above, EFV's low point in its 52 week range is $44.7894 per share, with $51.2453 as the 52 week high point — that compares with a last trade of $50.80. 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 iShares MSCI EAFE Value ETF (Symbol: EFV) where we have detected an approximate $141.5 million dollar outflow -- that's a 0.8% decrease week over week (from 334,800,000 to 332,000,000). For a complete list of holdings, visit the EFV Holdings page » The chart below shows the one year price performance of EFV, versus its 200 day moving average: Looking at the chart above, EFV's low point in its 52 week range is $44.7894 per share, with $51.2453 as the 52 week high point — that compares with a last trade of $50.80. 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 iShares MSCI EAFE Value ETF (Symbol: EFV) where we have detected an approximate $141.5 million dollar outflow -- that's a 0.8% decrease week over week (from 334,800,000 to 332,000,000). Among the largest underlying components of EFV, in trading today AerCap Holdings NV (Symbol: AER) is up about 1.6%, Coca-Cola Europacific Partners plc (Symbol: CCEP) is off about 1.1%, and Teva Pharmaceutical Industries Ltd (Symbol: TEVA) is lower by about 0.5%. Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''.
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87b82df4-aa6d-4437-9a70-ce80fa8e9bfc
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715257.0
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2023-12-01 00:00:00 UTC
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iShares Core S&P Small-Cap ETF Experiences Big Outflow
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DCOMP
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https://www.nasdaq.com/articles/ishares-core-sp-small-cap-etf-experiences-big-outflow-3
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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 iShares Core S&P Small-Cap ETF (Symbol: IJR) where we have detected an approximate $134.7 million dollar outflow -- that's a 0.2% decrease week over week (from 704,350,000 to 702,950,000). Among the largest underlying components of IJR, in trading today e.l.f. Beauty Inc (Symbol: ELF) is up about 2.8%, Ensign Group Inc (Symbol: ENSG) is up about 1%, and Fabrinet (Symbol: FN) is up by about 0.4%. For a complete list of holdings, visit the IJR Holdings page » The chart below shows the one year price performance of IJR, versus its 200 day moving average:
Looking at the chart above, IJR's low point in its 52 week range is $87.3201 per share, with $108.24 as the 52 week high point — that compares with a last trade of $96.86. 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:
Top Ten Hedge Funds Holding OPI
Funds Holding DNP
OMI YTD Return
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: Top Ten Hedge Funds Holding OPI Funds Holding DNP OMI YTD Return 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 IJR Holdings page » The chart below shows the one year price performance of IJR, versus its 200 day moving average: Looking at the chart above, IJR's low point in its 52 week range is $87.3201 per share, with $108.24 as the 52 week high point — that compares with a last trade of $96.86. 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 iShares Core S&P Small-Cap ETF (Symbol: IJR) where we have detected an approximate $134.7 million dollar outflow -- that's a 0.2% decrease week over week (from 704,350,000 to 702,950,000). For a complete list of holdings, visit the IJR Holdings page » The chart below shows the one year price performance of IJR, versus its 200 day moving average: Looking at the chart above, IJR's low point in its 52 week range is $87.3201 per share, with $108.24 as the 52 week high point — that compares with a last trade of $96.86. 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 iShares Core S&P Small-Cap ETF (Symbol: IJR) where we have detected an approximate $134.7 million dollar outflow -- that's a 0.2% decrease week over week (from 704,350,000 to 702,950,000). Among the largest underlying components of IJR, in trading today e.l.f. For a complete list of holdings, visit the IJR Holdings page » The chart below shows the one year price performance of IJR, versus its 200 day moving average: Looking at the chart above, IJR's low point in its 52 week range is $87.3201 per share, with $108.24 as the 52 week high point — that compares with a last trade of $96.86.
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1fcf1c2c-b449-4145-aa97-f796711e9520
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715258.0
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2023-12-01 00:00:00 UTC
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SSO, MMC, AXP, GILD: Large Inflows Detected at ETF
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DCOMP
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https://www.nasdaq.com/articles/sso-mmc-axp-gild%3A-large-inflows-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 ProShares Ultra S&P500 (Symbol: SSO) where we have detected an approximate $134.9 million dollar inflow -- that's a 3.8% increase week over week in outstanding units (from 58,550,000 to 60,800,000). Among the largest underlying components of SSO, in trading today Marsh & McLennan Companies Inc. (Symbol: MMC) is off about 1%, American Express Co. (Symbol: AXP) is up about 0.7%, and Gilead Sciences Inc (Symbol: GILD) is lower by about 0.3%. For a complete list of holdings, visit the SSO Holdings page » The chart below shows the one year price performance of SSO, versus its 200 day moving average:
Looking at the chart above, SSO's low point in its 52 week range is $42.75 per share, with $62.14 as the 52 week high point — that compares with a last trade of $59.76. 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:
ASPS Insider Buying
RTPZ Options Chain
STGW 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 ProShares Ultra S&P500 (Symbol: SSO) where we have detected an approximate $134.9 million dollar inflow -- that's a 3.8% increase week over week in outstanding units (from 58,550,000 to 60,800,000). 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 had notable inflows » Also see: ASPS Insider Buying RTPZ Options Chain STGW 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 SSO Holdings page » The chart below shows the one year price performance of SSO, versus its 200 day moving average: Looking at the chart above, SSO's low point in its 52 week range is $42.75 per share, with $62.14 as the 52 week high point — that compares with a last trade of $59.76. 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''. Click here to find out which 9 other ETFs had notable inflows » Also see: ASPS Insider Buying RTPZ Options Chain STGW 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 ProShares Ultra S&P500 (Symbol: SSO) where we have detected an approximate $134.9 million dollar inflow -- that's a 3.8% increase week over week in outstanding units (from 58,550,000 to 60,800,000). For a complete list of holdings, visit the SSO Holdings page » The chart below shows the one year price performance of SSO, versus its 200 day moving average: Looking at the chart above, SSO's low point in its 52 week range is $42.75 per share, with $62.14 as the 52 week high point — that compares with a last trade of $59.76. 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 ProShares Ultra S&P500 (Symbol: SSO) where we have detected an approximate $134.9 million dollar inflow -- that's a 3.8% increase week over week in outstanding units (from 58,550,000 to 60,800,000). For a complete list of holdings, visit the SSO Holdings page » The chart below shows the one year price performance of SSO, versus its 200 day moving average: Looking at the chart above, SSO's low point in its 52 week range is $42.75 per share, with $62.14 as the 52 week high point — that compares with a last trade of $59.76. 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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551d5380-710c-4011-a59b-e959670329d0
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715259.0
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2023-12-01 00:00:00 UTC
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ATI Unveils Growth Plan, Targets Revenues of Over $5B by 2027
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DCOMP
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https://www.nasdaq.com/articles/ati-unveils-growth-plan-targets-revenues-of-over-%245b-by-2027
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nan
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nan
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ATI Inc. (ATI) unveiled ambitious targets for the upcoming years during its much-anticipated 2023 Investor Update. As a prominent player in the aerospace and defense sector, the company is strategically focusing on these markets to surpass $5 billion in revenues and achieve an adjusted EBITDA of $1 billion by 2027. This optimistic outlook follows a successful 2023, solidifying ATI's position for significant cash generation and increased value for its shareholders.
ATI revised its 2025 targets, projecting revenues between $4.5 billion and $4.6 billion, with adjusted EBITDA in the range of $0.8-$0.9 billion. The company reaffirmed its commitment to strong financial performance, with a free cash flow conversion exceeding 90% of adjusted net income and managed working capital remaining below 30% of sales.
ATI has unveiled new targets for 2027, anticipating revenues between $5.2 and $5.4 billion and adjusted EBITDA ranging from $1 to $1.2 billion. The company aims to maintain a robust free cash flow conversion of over 90% and managed working capital below 30% of sales in 2027, underscoring its commitment to sustained financial excellence.
ATI emphasized its strategic focus on aerospace and defense, with a goal to secure 65% of revenues from these high-growth markets. It highlighted the advantages of an integrated ATI, combining superior materials science expertise and advanced process technologies to serve strategic customers with disciplined operational execution. The company's results reflect its success in gaining market share, expanding capacity and increasing shareholders’ value.
The company announced a new share repurchase authorization of $150 million, set to begin in 2024. This move reflects its confidence in its future financial performance and underscores its commitment to a balanced capital allocation strategy. The allocation strategy aims to fund profitable growth, further de-leverage the balance sheet and provide returns to shareholders.
ATI's comprehensive growth strategy, highlighted by robust financial targets and a clear market focus, positions the company as a key player in the aerospace and defense sectors. With a commitment to disciplined execution and continued investment in advanced technologies, ATI looks poised for sustained success, making it an intriguing prospect for investors seeking exposure to high-growth markets.
ATI Inc. Price and Consensus
ATI Inc. price-consensus-chart | ATI Inc. Quote
Zacks Rank & Key Picks
ATI currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the Basic Materials space areAxalta Coating Systems Ltd. AXTA, sporting a Zacks Rank #1 (Strong Buy), and The Andersons Inc. ANDE and Alamos Gold Inc. AGI, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The consensus estimate for AXTA’s current year earnings is pegged at $1.58, indicating year-over-year growth of 6.8%. AXTA beat the Zacks Consensus Estimate in three of the last four quarters and missed one, with the average earnings surprise being 6.67%. The company’s shares have rallied 16.6% in the past year.
The Zacks Consensus Estimate for ANDE’s current-year earnings has been revised upward by 5.1% in the past 60 days. Andersons beat the Zacks Consensus Estimate in each of the last four quarters. It delivered a trailing four-quarter earnings surprise of 32.8% on average. ANDE’s shares have rallied around 36.9% in a year.
The consensus estimate for Alamos’ current fiscal year earnings is pegged at 53 cents, indicating year-over-year growth of 89.3%. AGI beat the Zacks Consensus Estimate in all of the last four quarters, with the average earnings surprise being 25.6%. The company’s shares have increased 47.7% in the past year.
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It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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The Andersons, Inc. (ANDE) : Free Stock Analysis Report
Alamos Gold Inc. (AGI) : Free Stock Analysis Report
Axalta Coating Systems Ltd. (AXTA) : 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 reaffirmed its commitment to strong financial performance, with a free cash flow conversion exceeding 90% of adjusted net income and managed working capital remaining below 30% of sales. It highlighted the advantages of an integrated ATI, combining superior materials science expertise and advanced process technologies to serve strategic customers with disciplined operational execution. With a commitment to disciplined execution and continued investment in advanced technologies, ATI looks poised for sustained success, making it an intriguing prospect for investors seeking exposure to high-growth markets.
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ATI's comprehensive growth strategy, highlighted by robust financial targets and a clear market focus, positions the company as a key player in the aerospace and defense sectors. Some better-ranked stocks in the Basic Materials space areAxalta Coating Systems Ltd. AXTA, sporting a Zacks Rank #1 (Strong Buy), and The Andersons Inc. ANDE and Alamos Gold Inc. AGI, each carrying a Zacks Rank #2 (Buy). Click to get this free report The Andersons, Inc. (ANDE) : Free Stock Analysis Report Alamos Gold Inc. (AGI) : Free Stock Analysis Report Axalta Coating Systems Ltd. (AXTA) : Free Stock Analysis Report To read this article on Zacks.com click here.
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ATI Inc. Price and Consensus ATI Inc. price-consensus-chart | ATI Inc. Quote Zacks Rank & Key Picks ATI currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the Basic Materials space areAxalta Coating Systems Ltd. AXTA, sporting a Zacks Rank #1 (Strong Buy), and The Andersons Inc. ANDE and Alamos Gold Inc. AGI, each carrying a Zacks Rank #2 (Buy). Click to get this free report The Andersons, Inc. (ANDE) : Free Stock Analysis Report Alamos Gold Inc. (AGI) : Free Stock Analysis Report Axalta Coating Systems Ltd. (AXTA) : Free Stock Analysis Report To read this article on Zacks.com click here.
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ATI's comprehensive growth strategy, highlighted by robust financial targets and a clear market focus, positions the company as a key player in the aerospace and defense sectors. The Zacks Consensus Estimate for ANDE’s current-year earnings has been revised upward by 5.1% in the past 60 days. The company’s shares have increased 47.7% in the past year.
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a3cfe3d6-86b9-44fb-8f32-41b6e55d1c86
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715260.0
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2023-12-01 00:00:00 UTC
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Invesco Russell 1000 Equal Weight ETF Experiences Big Inflow
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https://www.nasdaq.com/articles/invesco-russell-1000-equal-weight-etf-experiences-big-inflow
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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 Invesco Russell 1000 Equal Weight ETF (Symbol: EQAL) where we have detected an approximate $147.8 million dollar inflow -- that's a 32.8% increase week over week in outstanding units (from 10,960,000 to 14,550,000). Among the largest underlying components of EQAL, in trading today Frontier Communications Parent Inc (Symbol: FYBR) is up about 0.4%, Motorola Solutions Inc (Symbol: MSI) is up about 0.2%, and Juniper Networks Inc (Symbol: JNPR) is lower by about 0.2%. For a complete list of holdings, visit the EQAL Holdings page » The chart below shows the one year price performance of EQAL, versus its 200 day moving average:
Looking at the chart above, EQAL's low point in its 52 week range is $37.35 per share, with $45.04 as the 52 week high point — that compares with a last trade of $41.45. 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:
QQQY Videos
RLI Options Chain
XXII YTD Return
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: QQQY Videos RLI Options Chain XXII YTD Return 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 EQAL, in trading today Frontier Communications Parent Inc (Symbol: FYBR) is up about 0.4%, Motorola Solutions Inc (Symbol: MSI) is up about 0.2%, and Juniper Networks Inc (Symbol: JNPR) is lower by about 0.2%. For a complete list of holdings, visit the EQAL Holdings page » The chart below shows the one year price performance of EQAL, versus its 200 day moving average: Looking at the chart above, EQAL's low point in its 52 week range is $37.35 per share, with $45.04 as the 52 week high point — that compares with a last trade of $41.45. 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 ».
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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 Invesco Russell 1000 Equal Weight ETF (Symbol: EQAL) where we have detected an approximate $147.8 million dollar inflow -- that's a 32.8% increase week over week in outstanding units (from 10,960,000 to 14,550,000). For a complete list of holdings, visit the EQAL Holdings page » The chart below shows the one year price performance of EQAL, versus its 200 day moving average: Looking at the chart above, EQAL's low point in its 52 week range is $37.35 per share, with $45.04 as the 52 week high point — that compares with a last trade of $41.45. 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 Invesco Russell 1000 Equal Weight ETF (Symbol: EQAL) where we have detected an approximate $147.8 million dollar inflow -- that's a 32.8% increase week over week in outstanding units (from 10,960,000 to 14,550,000). For a complete list of holdings, visit the EQAL Holdings page » The chart below shows the one year price performance of EQAL, versus its 200 day moving average: Looking at the chart above, EQAL's low point in its 52 week range is $37.35 per share, with $45.04 as the 52 week high point — that compares with a last trade of $41.45. 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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d1b260f9-bd72-4ef9-b9a8-330edecf481f
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715261.0
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2023-12-01 00:00:00 UTC
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Dow Movers: INTC, BA
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https://www.nasdaq.com/articles/dow-movers%3A-intc-ba-5
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In early trading on Friday, shares of Boeing topped the list of the day's best performing Dow Jones Industrial Average components, trading up 0.8%. Year to date, Boeing registers a 22.6% gain.
And the worst performing Dow component thus far on the day is Intel, trading down 1.6%. Intel is showing a gain of 66.4% looking at the year to date performance.
Two other components making moves today are Visa, trading down 0.8%, and Johnson & Johnson, trading up 0.7% on the day.
VIDEO: Dow Movers: INTC, BA
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 Friday, shares of Boeing topped the list of the day's best performing Dow Jones Industrial Average components, trading up 0.8%. And the worst performing Dow component thus far on the day is Intel, trading down 1.6%. Intel is showing a gain of 66.4% looking at the year to date performance.
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In early trading on Friday, shares of Boeing topped the list of the day's best performing Dow Jones Industrial Average components, trading up 0.8%. And the worst performing Dow component thus far on the day is Intel, trading down 1.6%. Two other components making moves today are Visa, trading down 0.8%, and Johnson & Johnson, trading up 0.7% on the day.
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In early trading on Friday, shares of Boeing topped the list of the day's best performing Dow Jones Industrial Average components, trading up 0.8%. And the worst performing Dow component thus far on the day is Intel, trading down 1.6%. Two other components making moves today are Visa, trading down 0.8%, and Johnson & Johnson, trading up 0.7% on the day.
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And the worst performing Dow component thus far on the day is Intel, trading down 1.6%. Intel is showing a gain of 66.4% looking at the year to date performance. VIDEO: Dow Movers: INTC, BA 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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3e34880b-6787-4669-a1f7-536e0ccf7557
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715262.0
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2023-12-01 00:00:00 UTC
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CANADA STOCKS-TSX starts December on steady footing as communications gains offset tech losses
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https://www.nasdaq.com/articles/canada-stocks-tsx-starts-december-on-steady-footing-as-communications-gains-offset-tech
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By Shashwat Chauhan
Dec 1 (Reuters) - Canada's main stock index was subdued in early trading on Friday as losses in technology stocks countered communications gains, while investors assessed the latest batch of economic data and the last of the big bank earnings.
At 9:44 a.m. ET (1444 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 5.09 points, or 0.03%, at 20,241.38.
Information technology .SPTTTK led sectoral declines, falling 0.5%, in tandem with a 0.3% decline in the tech-heavy U.S. Nasdaq .IXIC, while communication stocks .GSPTTTS made the most gains, adding 1.0%.
The benchmark index is eyeing modest gains for the week after logging its biggest monthly advance in three years in November.
On the data front, Statistics Canadasaid the Canadian economy added a net 24,900 jobs in November, more than expected, while the jobless rate ticked up to 5.8%.
"This is consistent with the narrative that the Canadian economy is stalling," said Angelo Kourkafas, senior investment strategist at Edward Jones.
A separate reading showed Canada's manufacturing sector contracted for the seventh straight month in November.
National Bank of CanadaNA.TO gained 3.8% after reporting higher fourth-quarter profit. Bank of MontrealBMO.TO missed quarterly profit estimates; it was last up 0.2%.
"Clearly, there is some deceleration in economic growth that shows up in the (banks) results; they are tightening up on lending and could face another challenging year ahead, but we're not seeing growth falling off a cliff," Kourkafas added.
On the investor radar are any comments about interest rates from Federal Reserve Chair Jerome Powell, who is due to speak at two separate events later in the day.
(Reporting by Shashwat Chauhan in Bengaluru; Editing by Tasim Zahid)
((Shashwat.Chauhan@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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The benchmark index is eyeing modest gains for the week after logging its biggest monthly advance in three years in November. On the data front, Statistics Canadasaid the Canadian economy added a net 24,900 jobs in November, more than expected, while the jobless rate ticked up to 5.8%. On the investor radar are any comments about interest rates from Federal Reserve Chair Jerome Powell, who is due to speak at two separate events later in the day.
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By Shashwat Chauhan Dec 1 (Reuters) - Canada's main stock index was subdued in early trading on Friday as losses in technology stocks countered communications gains, while investors assessed the latest batch of economic data and the last of the big bank earnings. Information technology .SPTTTK led sectoral declines, falling 0.5%, in tandem with a 0.3% decline in the tech-heavy U.S. Nasdaq .IXIC, while communication stocks .GSPTTTS made the most gains, adding 1.0%. On the data front, Statistics Canadasaid the Canadian economy added a net 24,900 jobs in November, more than expected, while the jobless rate ticked up to 5.8%.
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By Shashwat Chauhan Dec 1 (Reuters) - Canada's main stock index was subdued in early trading on Friday as losses in technology stocks countered communications gains, while investors assessed the latest batch of economic data and the last of the big bank earnings. Information technology .SPTTTK led sectoral declines, falling 0.5%, in tandem with a 0.3% decline in the tech-heavy U.S. Nasdaq .IXIC, while communication stocks .GSPTTTS made the most gains, adding 1.0%. "Clearly, there is some deceleration in economic growth that shows up in the (banks) results; they are tightening up on lending and could face another challenging year ahead, but we're not seeing growth falling off a cliff," Kourkafas added.
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By Shashwat Chauhan Dec 1 (Reuters) - Canada's main stock index was subdued in early trading on Friday as losses in technology stocks countered communications gains, while investors assessed the latest batch of economic data and the last of the big bank earnings. The benchmark index is eyeing modest gains for the week after logging its biggest monthly advance in three years in November. On the data front, Statistics Canadasaid the Canadian economy added a net 24,900 jobs in November, more than expected, while the jobless rate ticked up to 5.8%.
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22d49246-57ad-418b-83af-9324566353da
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715263.0
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2023-12-01 00:00:00 UTC
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Ex-Dividend Reminder: Lear, Edgewell Personal Care and GUESS ?
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https://www.nasdaq.com/articles/ex-dividend-reminder%3A-lear-edgewell-personal-care-and-guess
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Looking at the universe of stocks we cover at Dividend Channel, on 12/5/23, Lear Corp. (Symbol: LEA), Edgewell Personal Care Co (Symbol: EPC), and GUESS ?, Inc. (Symbol: GES) will all trade ex-dividend for their respective upcoming dividends. Lear Corp. will pay its quarterly dividend of $0.77 on 12/26/23, Edgewell Personal Care Co will pay its quarterly dividend of $0.15 on 1/4/24, and GUESS ?, Inc. will pay its quarterly dividend of $0.30 on 12/22/23. As a percentage of LEA's recent stock price of $133.75, this dividend works out to approximately 0.58%, so look for shares of Lear Corp. to trade 0.58% lower — all else being equal — when LEA shares open for trading on 12/5/23. Similarly, investors should look for EPC to open 0.43% lower in price and for GES to open 1.36% lower, all else being equal.
Below are dividend history charts for LEA, EPC, and GES, showing historical dividends prior to the most recent ones declared.
Lear Corp. (Symbol: LEA):
Edgewell Personal Care Co (Symbol: EPC):
GUESS ?, Inc. (Symbol: GES):
In general, dividends are not always predictable, following the ups and downs of company profits over time. Therefore, a good first due diligence step in forming an expectation of annual yield going forward, is looking at the history above, for a sense of stability over time. This can help in judging whether the most recent dividends from these companies are likely to continue. If they do continue, the current estimated yields on annualized basis would be 2.30% for Lear Corp., 1.72% for Edgewell Personal Care Co, and 5.45% for GUESS ?, Inc..
Free Report: Top 8%+ Dividends (paid monthly)
In Friday trading, Lear Corp. shares are currently down about 0.8%, Edgewell Personal Care Co shares are up about 1.4%, and GUESS ?, Inc. shares are up about 0.1% on the day.
Click here to learn which 25 S.A.F.E. dividend stocks should be on your radar screen »
Also see:
Top Dividend Stocks
Top Ten Hedge Funds Holding EEML
Funds Holding IRBA
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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Therefore, a good first due diligence step in forming an expectation of annual yield going forward, is looking at the history above, for a sense of stability over time. If they do continue, the current estimated yields on annualized basis would be 2.30% for Lear Corp., 1.72% for Edgewell Personal Care Co, and 5.45% for GUESS ?, Inc.. Free Report: Top 8%+ Dividends (paid monthly) In Friday trading, Lear Corp. shares are currently down about 0.8%, Edgewell Personal Care Co shares are up about 1.4%, and GUESS ?, Inc. shares are up about 0.1% on the day. dividend stocks should be on your radar screen » Also see: Top Dividend Stocks Top Ten Hedge Funds Holding EEML Funds Holding IRBA 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 at the universe of stocks we cover at Dividend Channel, on 12/5/23, Lear Corp. (Symbol: LEA), Edgewell Personal Care Co (Symbol: EPC), and GUESS ?, Inc. (Symbol: GES) will all trade ex-dividend for their respective upcoming dividends. Lear Corp. will pay its quarterly dividend of $0.77 on 12/26/23, Edgewell Personal Care Co will pay its quarterly dividend of $0.15 on 1/4/24, and GUESS ?, Inc. will pay its quarterly dividend of $0.30 on 12/22/23. Lear Corp. (Symbol: LEA): Edgewell Personal Care Co (Symbol: EPC): GUESS ?, Inc. (Symbol: GES): In general, dividends are not always predictable, following the ups and downs of company profits over time.
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Looking at the universe of stocks we cover at Dividend Channel, on 12/5/23, Lear Corp. (Symbol: LEA), Edgewell Personal Care Co (Symbol: EPC), and GUESS ?, Inc. (Symbol: GES) will all trade ex-dividend for their respective upcoming dividends. Lear Corp. will pay its quarterly dividend of $0.77 on 12/26/23, Edgewell Personal Care Co will pay its quarterly dividend of $0.15 on 1/4/24, and GUESS ?, Inc. will pay its quarterly dividend of $0.30 on 12/22/23. If they do continue, the current estimated yields on annualized basis would be 2.30% for Lear Corp., 1.72% for Edgewell Personal Care Co, and 5.45% for GUESS ?, Inc.. Free Report: Top 8%+ Dividends (paid monthly) In Friday trading, Lear Corp. shares are currently down about 0.8%, Edgewell Personal Care Co shares are up about 1.4%, and GUESS ?, Inc. shares are up about 0.1% on the day.
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As a percentage of LEA's recent stock price of $133.75, this dividend works out to approximately 0.58%, so look for shares of Lear Corp. to trade 0.58% lower — all else being equal — when LEA shares open for trading on 12/5/23. Lear Corp. (Symbol: LEA): Edgewell Personal Care Co (Symbol: EPC): GUESS ?, Inc. (Symbol: GES): In general, dividends are not always predictable, following the ups and downs of company profits over time. If they do continue, the current estimated yields on annualized basis would be 2.30% for Lear Corp., 1.72% for Edgewell Personal Care Co, and 5.45% for GUESS ?, Inc.. Free Report: Top 8%+ Dividends (paid monthly) In Friday trading, Lear Corp. shares are currently down about 0.8%, Edgewell Personal Care Co shares are up about 1.4%, and GUESS ?, Inc. shares are up about 0.1% on the day.
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f023c4d0-1f32-45d5-8931-c33c18f8caea
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715264.0
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2023-12-01 00:00:00 UTC
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US STOCKS-S&P, Nasdaq slip as caution prevails ahead of Powell comments
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DCOMP
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https://www.nasdaq.com/articles/us-stocks-sp-nasdaq-slip-as-caution-prevails-ahead-of-powell-comments
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By Shristi Achar A and Amruta Khandekar
Dec 1 (Reuters) - The S&P 500 and Nasdaq fell on Friday as investors were on edge ahead of Federal Reserve Chair Jerome Powell's comments that some fear may have a hawkish tilt towards monetary policy.
This comes after both the indexes finished November with their biggest monthly gain since July 2022, while the Dow Jones .DJI rallied to close at its highest level since January 2022.
The rally has been driven by a slew of recent data including Thursday's personal consumption expenditure index that signalled easing inflation and bolstered hopes the central bank would now end its interest rate hikes and could start lowering them soon.
But after recent conflicting policy remarks from some policymakers, investors are concerned that Powell could push back against the rate cut narrative. Powell is expected to speak at two separate events at 11 a.m. ET and 2 p.m. ET.
"Especially because of the ebullience of the markets over the last couple of weeks, there probably is a hawkish message that he's going to deliver today," said Kim Forrest, chief investment officer at Bokeh Capital Partners.
Investors will also monitor comments from Fed Governors Lisa Cook and Chicago Fed President Austan Goolsbee, scheduled to speak during the day.
A pause in rate hikes has been fully priced in for the upcoming December policy meeting, and traders also see an about 48% chance of at least a 25 basis point rate cut in March 2024 and an about 78% chance of another cut in May, according to CME Group's FedWatch tool.
At 9:37 a.m. ET, the Dow Jones Industrial Average .DJI was up 31.40 points, or 0.09%, at 35,982.29, the S&P 500 .SPX was down 9.04 points, or 0.20%, at 4,558.76, and the Nasdaq Composite .IXIC was down 68.61 points, or 0.48%, at 14,157.61.
TeslaTSLA.O underperformed megacap peers, falling 2.5% as the EV maker priced its Cybertruck above its initial forecast.
Also among top drags, PfizerPFE.N fell 6.5% as the drugmaker scrapped its plan to advance a twice-daily version of oral weight-loss drug danuglipron into late-stage studies.
Keeping the Dow Jones .DJI afloat was an about 1% rise in shares of aircraft firm Boeing BA.N and healthcare giant Johnson & Johnson JNJ.N.
Among other stocks, U.S.-listed shares of AlibabaBABA.N slipped 3.0% after Morgan Stanley downgraded the e-commerce giant, citing slower turnaround in customer management revenue (CMR).
Marvell TechnologyMRVL.O shed 6.7% after the chipmaker's fourth-quarter revenue forecast fell short of Street estimates.
Ulta BeautyULTA.O rose 10.6% after the cosmetics retailer raised the lower end of its annual net sales forecast and named Paula Oyibo its new chief financial officer.
Paramount GlobalPARA.O climbed 1% on a report the media company and Apple AAPL.O have discussed bundling their streaming services at a discount.
Declining issues outnumbered advancers for a 1.19-to-1 ratio on the NYSE and for a 1.55-to-1 ratio on the Nasdaq.
The S&P index recorded 19 new 52-week highs and one new low, while the Nasdaq recorded 19 new highs and 36 new lows.
U.S. inflation is falling https://tmsnrt.rs/3R3OjrB
(Reporting by Shristi Achar A and Amruta Khandekar in Bengaluru; Editing by Shinjini Ganguli)
((Shristi.AcharA@thomsonreuters.com https://twitter.com/ShristiAchar; 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 Shristi Achar A and Amruta Khandekar Dec 1 (Reuters) - The S&P 500 and Nasdaq fell on Friday as investors were on edge ahead of Federal Reserve Chair Jerome Powell's comments that some fear may have a hawkish tilt towards monetary policy. The rally has been driven by a slew of recent data including Thursday's personal consumption expenditure index that signalled easing inflation and bolstered hopes the central bank would now end its interest rate hikes and could start lowering them soon. Ulta BeautyULTA.O rose 10.6% after the cosmetics retailer raised the lower end of its annual net sales forecast and named Paula Oyibo its new chief financial officer.
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This comes after both the indexes finished November with their biggest monthly gain since July 2022, while the Dow Jones .DJI rallied to close at its highest level since January 2022. The S&P index recorded 19 new 52-week highs and one new low, while the Nasdaq recorded 19 new highs and 36 new lows. U.S. inflation is falling https://tmsnrt.rs/3R3OjrB (Reporting by Shristi Achar A and Amruta Khandekar in Bengaluru; Editing by Shinjini Ganguli) ((Shristi.AcharA@thomsonreuters.com https://twitter.com/ShristiAchar; 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 Shristi Achar A and Amruta Khandekar Dec 1 (Reuters) - The S&P 500 and Nasdaq fell on Friday as investors were on edge ahead of Federal Reserve Chair Jerome Powell's comments that some fear may have a hawkish tilt towards monetary policy. A pause in rate hikes has been fully priced in for the upcoming December policy meeting, and traders also see an about 48% chance of at least a 25 basis point rate cut in March 2024 and an about 78% chance of another cut in May, according to CME Group's FedWatch tool. U.S. inflation is falling https://tmsnrt.rs/3R3OjrB (Reporting by Shristi Achar A and Amruta Khandekar in Bengaluru; Editing by Shinjini Ganguli) ((Shristi.AcharA@thomsonreuters.com https://twitter.com/ShristiAchar; 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 Shristi Achar A and Amruta Khandekar Dec 1 (Reuters) - The S&P 500 and Nasdaq fell on Friday as investors were on edge ahead of Federal Reserve Chair Jerome Powell's comments that some fear may have a hawkish tilt towards monetary policy. This comes after both the indexes finished November with their biggest monthly gain since July 2022, while the Dow Jones .DJI rallied to close at its highest level since January 2022. A pause in rate hikes has been fully priced in for the upcoming December policy meeting, and traders also see an about 48% chance of at least a 25 basis point rate cut in March 2024 and an about 78% chance of another cut in May, according to CME Group's FedWatch tool.
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15fabfa8-6634-4d57-9046-57438bd4f8e3
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715265.0
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2023-12-01 00:00:00 UTC
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Ex-Dividend Reminder: Ardagh Metal Packaging, Thales and Golden Ocean Group
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DCOMP
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https://www.nasdaq.com/articles/ex-dividend-reminder%3A-ardagh-metal-packaging-thales-and-golden-ocean-group
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nan
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nan
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Looking at the universe of stocks we cover at Dividend Channel, on 12/5/23, Ardagh Metal Packaging SA (Symbol: AMBP), Thales (Symbol: THLEF), and Golden Ocean Group Ltd (Symbol: GOGL) will all trade ex-dividend for their respective upcoming dividends. Ardagh Metal Packaging SA will pay its quarterly dividend of $0.10 on 12/20/23, Thales will pay its semi-annual dividend of $0.80 on 12/7/23, and Golden Ocean Group Ltd will pay its quarterly dividend of $0.10 on 12/13/23. As a percentage of AMBP's recent stock price of $4.02, this dividend works out to approximately 2.49%, so look for shares of Ardagh Metal Packaging SA to trade 2.49% lower — all else being equal — when AMBP shares open for trading on 12/5/23. Similarly, investors should look for THLEF to open 0.53% lower in price and for GOGL to open 1.06% lower, all else being equal.
Below are dividend history charts for AMBP, THLEF, and GOGL, showing historical dividends prior to the most recent ones declared.
Ardagh Metal Packaging SA (Symbol: AMBP):
Thales (Symbol: THLEF):
Golden Ocean Group Ltd (Symbol: GOGL):
In general, dividends are not always predictable, following the ups and downs of company profits over time. Therefore, a good first due diligence step in forming an expectation of annual yield going forward, is looking at the history above, for a sense of stability over time. This can help in judging whether the most recent dividends from these companies are likely to continue. If they do continue, the current estimated yields on annualized basis would be 9.95% for Ardagh Metal Packaging SA, 1.05% for Thales, and 4.23% for Golden Ocean Group Ltd.
In Friday trading, Ardagh Metal Packaging SA shares are currently trading flat, Thales shares are up about 1.1%, and Golden Ocean Group Ltd shares are up about 1.9% on the day.
Click here to learn which 25 S.A.F.E. dividend stocks should be on your radar screen »
Also see:
Top Dividend Stocks
Funds Holding CARO
RPL 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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As a percentage of AMBP's recent stock price of $4.02, this dividend works out to approximately 2.49%, so look for shares of Ardagh Metal Packaging SA to trade 2.49% lower — all else being equal — when AMBP shares open for trading on 12/5/23. Therefore, a good first due diligence step in forming an expectation of annual yield going forward, is looking at the history above, for a sense of stability over time. If they do continue, the current estimated yields on annualized basis would be 9.95% for Ardagh Metal Packaging SA, 1.05% for Thales, and 4.23% for Golden Ocean Group Ltd.
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Looking at the universe of stocks we cover at Dividend Channel, on 12/5/23, Ardagh Metal Packaging SA (Symbol: AMBP), Thales (Symbol: THLEF), and Golden Ocean Group Ltd (Symbol: GOGL) will all trade ex-dividend for their respective upcoming dividends. Ardagh Metal Packaging SA will pay its quarterly dividend of $0.10 on 12/20/23, Thales will pay its semi-annual dividend of $0.80 on 12/7/23, and Golden Ocean Group Ltd will pay its quarterly dividend of $0.10 on 12/13/23. Ardagh Metal Packaging SA (Symbol: AMBP): Thales (Symbol: THLEF): Golden Ocean Group Ltd (Symbol: GOGL): In general, dividends are not always predictable, following the ups and downs of company profits over time.
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Looking at the universe of stocks we cover at Dividend Channel, on 12/5/23, Ardagh Metal Packaging SA (Symbol: AMBP), Thales (Symbol: THLEF), and Golden Ocean Group Ltd (Symbol: GOGL) will all trade ex-dividend for their respective upcoming dividends. Ardagh Metal Packaging SA will pay its quarterly dividend of $0.10 on 12/20/23, Thales will pay its semi-annual dividend of $0.80 on 12/7/23, and Golden Ocean Group Ltd will pay its quarterly dividend of $0.10 on 12/13/23. Ardagh Metal Packaging SA (Symbol: AMBP): Thales (Symbol: THLEF): Golden Ocean Group Ltd (Symbol: GOGL): In general, dividends are not always predictable, following the ups and downs of company profits over time.
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Looking at the universe of stocks we cover at Dividend Channel, on 12/5/23, Ardagh Metal Packaging SA (Symbol: AMBP), Thales (Symbol: THLEF), and Golden Ocean Group Ltd (Symbol: GOGL) will all trade ex-dividend for their respective upcoming dividends. As a percentage of AMBP's recent stock price of $4.02, this dividend works out to approximately 2.49%, so look for shares of Ardagh Metal Packaging SA to trade 2.49% lower — all else being equal — when AMBP shares open for trading on 12/5/23. If they do continue, the current estimated yields on annualized basis would be 9.95% for Ardagh Metal Packaging SA, 1.05% for Thales, and 4.23% for Golden Ocean Group Ltd.
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26f9be21-1255-4d80-ad4f-2be33226a38c
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715266.0
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2023-12-01 00:00:00 UTC
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Ex-Dividend Reminder: Old Dominion Freight Line, Avery Dennison and Alamos Gold
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DCOMP
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https://www.nasdaq.com/articles/ex-dividend-reminder%3A-old-dominion-freight-line-avery-dennison-and-alamos-gold
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nan
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nan
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Looking at the universe of stocks we cover at Dividend Channel, on 12/5/23, Old Dominion Freight Line, Inc. (Symbol: ODFL), Avery Dennison Corp (Symbol: AVY), and Alamos Gold Inc (Symbol: AGI) will all trade ex-dividend for their respective upcoming dividends. Old Dominion Freight Line, Inc. will pay its quarterly dividend of $0.40 on 12/20/23, Avery Dennison Corp will pay its quarterly dividend of $0.81 on 12/20/23, and Alamos Gold Inc will pay its quarterly dividend of $0.025 on 12/20/23. As a percentage of ODFL's recent stock price of $389.06, this dividend works out to approximately 0.10%, so look for shares of Old Dominion Freight Line, Inc. to trade 0.10% lower — all else being equal — when ODFL shares open for trading on 12/5/23. Similarly, investors should look for AVY to open 0.42% lower in price and for AGI to open 0.17% lower, all else being equal.
Below are dividend history charts for ODFL, AVY, and AGI, showing historical dividends prior to the most recent ones declared.
Old Dominion Freight Line, Inc. (Symbol: ODFL):
Avery Dennison Corp (Symbol: AVY):
Alamos Gold Inc (Symbol: AGI):
In general, dividends are not always predictable, following the ups and downs of company profits over time. Therefore, a good first due diligence step in forming an expectation of annual yield going forward, is looking at the history above, for a sense of stability over time. This can help in judging whether the most recent dividends from these companies are likely to continue. If they do continue, the current estimated yields on annualized basis would be 0.41% for Old Dominion Freight Line, Inc., 1.67% for Avery Dennison Corp, and 0.67% for Alamos Gold Inc.
Free Report: Top 8%+ Dividends (paid monthly)
In Friday trading, Old Dominion Freight Line, Inc. shares are currently up about 1.3%, Avery Dennison Corp shares are up about 1.1%, and Alamos Gold Inc shares are up about 1.5% on the day.
Click here to learn which 25 S.A.F.E. dividend stocks should be on your radar screen »
Also see:
Funds Holding BJUL
INO YTD Return
Institutional Holders of CBAN
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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Therefore, a good first due diligence step in forming an expectation of annual yield going forward, is looking at the history above, for a sense of stability over time. If they do continue, the current estimated yields on annualized basis would be 0.41% for Old Dominion Freight Line, Inc., 1.67% for Avery Dennison Corp, and 0.67% for Alamos Gold Inc. Free Report: Top 8%+ Dividends (paid monthly) In Friday trading, Old Dominion Freight Line, Inc. shares are currently up about 1.3%, Avery Dennison Corp shares are up about 1.1%, and Alamos Gold Inc shares are up about 1.5% on the day. dividend stocks should be on your radar screen » Also see: Funds Holding BJUL INO YTD Return Institutional Holders of CBAN 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 at the universe of stocks we cover at Dividend Channel, on 12/5/23, Old Dominion Freight Line, Inc. (Symbol: ODFL), Avery Dennison Corp (Symbol: AVY), and Alamos Gold Inc (Symbol: AGI) will all trade ex-dividend for their respective upcoming dividends. Old Dominion Freight Line, Inc. will pay its quarterly dividend of $0.40 on 12/20/23, Avery Dennison Corp will pay its quarterly dividend of $0.81 on 12/20/23, and Alamos Gold Inc will pay its quarterly dividend of $0.025 on 12/20/23. Old Dominion Freight Line, Inc. (Symbol: ODFL): Avery Dennison Corp (Symbol: AVY): Alamos Gold Inc (Symbol: AGI): In general, dividends are not always predictable, following the ups and downs of company profits over time.
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Looking at the universe of stocks we cover at Dividend Channel, on 12/5/23, Old Dominion Freight Line, Inc. (Symbol: ODFL), Avery Dennison Corp (Symbol: AVY), and Alamos Gold Inc (Symbol: AGI) will all trade ex-dividend for their respective upcoming dividends. Old Dominion Freight Line, Inc. will pay its quarterly dividend of $0.40 on 12/20/23, Avery Dennison Corp will pay its quarterly dividend of $0.81 on 12/20/23, and Alamos Gold Inc will pay its quarterly dividend of $0.025 on 12/20/23. If they do continue, the current estimated yields on annualized basis would be 0.41% for Old Dominion Freight Line, Inc., 1.67% for Avery Dennison Corp, and 0.67% for Alamos Gold Inc. Free Report: Top 8%+ Dividends (paid monthly) In Friday trading, Old Dominion Freight Line, Inc. shares are currently up about 1.3%, Avery Dennison Corp shares are up about 1.1%, and Alamos Gold Inc shares are up about 1.5% on the day.
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As a percentage of ODFL's recent stock price of $389.06, this dividend works out to approximately 0.10%, so look for shares of Old Dominion Freight Line, Inc. to trade 0.10% lower — all else being equal — when ODFL shares open for trading on 12/5/23. Old Dominion Freight Line, Inc. (Symbol: ODFL): Avery Dennison Corp (Symbol: AVY): Alamos Gold Inc (Symbol: AGI): In general, dividends are not always predictable, following the ups and downs of company profits over time. If they do continue, the current estimated yields on annualized basis would be 0.41% for Old Dominion Freight Line, Inc., 1.67% for Avery Dennison Corp, and 0.67% for Alamos Gold Inc. Free Report: Top 8%+ Dividends (paid monthly) In Friday trading, Old Dominion Freight Line, Inc. shares are currently up about 1.3%, Avery Dennison Corp shares are up about 1.1%, and Alamos Gold Inc shares are up about 1.5% on the day.
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b10d01e8-14b9-4a38-ae39-5a256c2668ea
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715267.0
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2023-12-01 00:00:00 UTC
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Best Blue Chip Stocks To Invest In Right Now? 2 In Focus
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DCOMP
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https://www.nasdaq.com/articles/best-blue-chip-stocks-to-invest-in-right-now-2-in-focus
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nan
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nan
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Blue-chip stocks are shares of well-established, financially sound companies with a history of stable earnings. These companies are often market leaders or among the top in their sectors. Characterized by their large market capitalization, blue-chip stocks are known for their reliability and strong track record. They are often included in major stock indices.
Investing in blue-chip stocks offers several advantages. These stocks typically provide consistent dividends, contributing to steady income for investors. Their long-standing market presence suggests a lower risk of volatility. This makes them a popular choice for conservative investors. However, there are also disadvantages. Blue-chip stocks may have slower growth compared to emerging companies. Their size can limit their potential for rapid expansion.
When considering blue-chip stocks, investors should weigh their investment goals. These stocks can be a cornerstone for a long-term, stable portfolio. Yet, their conservative nature might not suit those seeking high growth rates. As with any investment, diversification is key. Keeping this on top of mind, let’s look at two blue chip stocks to watch in the stock market today.
Blue Chip Stocks To Buy [Or Avoid] Today
McDonald’s Corporation (NYSE: MCD)
Apple Inc. (NASDAQ: AAPL)
McDonald’s Corporation (MCD Stock)
Let’s start with McDonald’s Corporation (MCD). The company is a global fast-food chain, renowned for its hamburgers, fries, and quick-service meals. McDonald’s is one of the world’s largest restaurant chains, with outlets in over 100 countries. McDonald’s is known for its standardized menu items and for pioneering the franchise model in the fast-food industry.
Last month, McDonald’s Corporation announced its decision to acquire Carlyle’s minority ownership stake in the strategic partnership managing McDonald’s business in mainland China, Hong Kong, and Macau. The announcement, made on November 20, 2023, detailed that while the CITIC Consortium, primarily through CITIC Capital, would maintain its controlling 52% stake, McDonald’s would increase its stake from 20% to 48%. This move marks a significant adjustment in McDonald’s involvement in its Chinese operations.
In the last month of trading action, shares of MCD have advanced by 8.36%. Meanwhile, during Friday morning’s trading session, McDonald’s stock is trading slightly higher on the day so far by 0.72%, trading at $283.88 a share.
[Read More] 2 Dow 30 Stocks For Your December 2023 Watchlist
Apple (AAPL Stock)
Next, Apple Inc. (AAPL) is a multinational technology company that specializes in consumer electronics, software, and online services. Apple’s key products include the iPhone, iPad, Mac computers, and services like the App Store, Apple Music, and iCloud.
At the beginning of last month, Apple reported better-than-expected fourth-quarter 2023 financial results. Diving in, the company notched in earnings of $1.46 per share, along with revenue of $89.50 billion for Q4 2023. This is versus consensus estimates for the quarter which were earnings of $1.39 per share, with revenue estimates of $84.69 billion.
Over the last month of trading, shares of AAPL stock have gained by 9.29%. Moreover, during Friday morning’s trading session, Apple stock opened modestly higher by 0.11% so far, currently trading at $190.18 a share.
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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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Blue-chip stocks are shares of well-established, financially sound companies with a history of stable earnings. Characterized by their large market capitalization, blue-chip stocks are known for their reliability and strong track record. If you enjoyed this article and you’re interested in learning how to trade so you can have the best chance to profit consistently then you need to checkout this YouTube channel.
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Blue Chip Stocks To Buy [Or Avoid] Today McDonald’s Corporation (NYSE: MCD) Apple Inc. (NASDAQ: AAPL) McDonald’s Corporation (MCD Stock) Let’s start with McDonald’s Corporation (MCD). Meanwhile, during Friday morning’s trading session, McDonald’s stock is trading slightly higher on the day so far by 0.72%, trading at $283.88 a share. Moreover, during Friday morning’s trading session, Apple stock opened modestly higher by 0.11% so far, currently trading at $190.18 a share.
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Blue Chip Stocks To Buy [Or Avoid] Today McDonald’s Corporation (NYSE: MCD) Apple Inc. (NASDAQ: AAPL) McDonald’s Corporation (MCD Stock) Let’s start with McDonald’s Corporation (MCD). Meanwhile, during Friday morning’s trading session, McDonald’s stock is trading slightly higher on the day so far by 0.72%, trading at $283.88 a share. [Read More] 2 Dow 30 Stocks For Your December 2023 Watchlist Apple (AAPL Stock) Next, Apple Inc. (AAPL) is a multinational technology company that specializes in consumer electronics, software, and online services.
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Blue-chip stocks are shares of well-established, financially sound companies with a history of stable earnings. When considering blue-chip stocks, investors should weigh their investment goals. Over the last month of trading, shares of AAPL stock have gained by 9.29%.
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cd531964-a087-4796-a68d-cb275d1da36e
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715268.0
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2023-12-01 00:00:00 UTC
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Innovator Lists December Power Buffer ETF
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DCOMP
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https://www.nasdaq.com/articles/innovator-lists-december-power-buffer-etf
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nan
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nan
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Innovator ETFs has listed the Innovator International Developed Power Buffer ETF - December (NYSE Arca: IDEC) as part of its lineup of Defined Outcome ETFs.
IDEC seeks to track the return of the iShares MSCI EAFE ETF (EFA), up to a predetermined cap. It does this while buffering investors against the first 15% of losses over the outcome period. Since the ETF resets at the end of each outcome period approximately annually, investors can hold IDEC indefinitely.
See more: “Innovator Lists November Buffer ETF”
The outcomes that IDEC seeks to provide may only be realized if investors are holding shares on the first day of the outcome period and continue to hold them on the last day of the outcome period, approximately one year. There is no guarantee that the outcomes for an outcome period will be realized.
IDEC charges 85 basis points.
Providing Defined Outcomes in an ETF
Innovator Defined Outcome ETFs are designed to take advantage of market growth while maintaining defined levels of buffers against loss. They are as tax efficient as traditional ETFs due to a recent rule change allowing the in-kind trading of options.
Innovator launched in November the Innovator International Developed Power Buffer ETF – November (INOV). In March, Innovator announced the listing of four income-focused Defined Outcome ETFs. The Innovator Premium Income Barrier ETFs seek to offer fixed rates of high income with protective barriers against decline in the S&P 500 over a one-year period.
“Many advisors have been successfully using buffer ETFs to limit the downside,” said VettaFi’s Head of Research Todd Rosenbluth. “But these new ETFs will provide an income alternative to bond ETFs without credit or duration risk.”
Innovator ETFs’ head of distribution Trevor Terrell said at Exchange 2023 that the way the firm manages risk is by offering solutions “only available in insurance wrappers or in bank products” through the ETF vehicle.
“We provide defined outcomes in an ETF,” Terrell said. “You get market exposure with built-in risk management.”
For more news, information, and analysis, visit VettaFi | ETF Trends.
Read more on ETFTrends.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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IDEC seeks to track the return of the iShares MSCI EAFE ETF (EFA), up to a predetermined cap. Since the ETF resets at the end of each outcome period approximately annually, investors can hold IDEC indefinitely. They are as tax efficient as traditional ETFs due to a recent rule change allowing the in-kind trading of options.
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Innovator ETFs has listed the Innovator International Developed Power Buffer ETF - December (NYSE Arca: IDEC) as part of its lineup of Defined Outcome ETFs. See more: “Innovator Lists November Buffer ETF” The outcomes that IDEC seeks to provide may only be realized if investors are holding shares on the first day of the outcome period and continue to hold them on the last day of the outcome period, approximately one year. Innovator launched in November the Innovator International Developed Power Buffer ETF – November (INOV).
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Innovator ETFs has listed the Innovator International Developed Power Buffer ETF - December (NYSE Arca: IDEC) as part of its lineup of Defined Outcome ETFs. See more: “Innovator Lists November Buffer ETF” The outcomes that IDEC seeks to provide may only be realized if investors are holding shares on the first day of the outcome period and continue to hold them on the last day of the outcome period, approximately one year. Providing Defined Outcomes in an ETF Innovator Defined Outcome ETFs are designed to take advantage of market growth while maintaining defined levels of buffers against loss.
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Innovator ETFs has listed the Innovator International Developed Power Buffer ETF - December (NYSE Arca: IDEC) as part of its lineup of Defined Outcome ETFs. See more: “Innovator Lists November Buffer ETF” The outcomes that IDEC seeks to provide may only be realized if investors are holding shares on the first day of the outcome period and continue to hold them on the last day of the outcome period, approximately one year. “We provide defined outcomes in an ETF,” Terrell said.
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2f7800dc-61a7-47e4-b7bc-c3f5b3d69806
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715269.0
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2023-12-01 00:00:00 UTC
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Ex-Dividend Reminder: Cedar Fair, Kohl's and Texas Roadhouse
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DCOMP
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https://www.nasdaq.com/articles/ex-dividend-reminder%3A-cedar-fair-kohls-and-texas-roadhouse
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nan
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nan
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Looking at the universe of stocks we cover at Dividend Channel, on 12/5/23, Cedar Fair LP (Symbol: FUN), Kohl's Corp. (Symbol: KSS), and Texas Roadhouse Inc (Symbol: TXRH) will all trade ex-dividend for their respective upcoming dividends. Cedar Fair LP will pay its quarterly dividend of $0.30 on 12/20/23, Kohl's Corp. will pay its quarterly dividend of $0.50 on 12/20/23, and Texas Roadhouse Inc will pay its quarterly dividend of $0.55 on 12/26/23. As a percentage of FUN's recent stock price of $39.22, this dividend works out to approximately 0.76%, so look for shares of Cedar Fair LP to trade 0.76% lower — all else being equal — when FUN shares open for trading on 12/5/23. Similarly, investors should look for KSS to open 2.13% lower in price and for TXRH to open 0.49% lower, all else being equal.
Below are dividend history charts for FUN, KSS, and TXRH, showing historical dividends prior to the most recent ones declared.
Cedar Fair LP (Symbol: FUN):
Kohl's Corp. (Symbol: KSS):
Texas Roadhouse Inc (Symbol: TXRH):
In general, dividends are not always predictable, following the ups and downs of company profits over time. Therefore, a good first due diligence step in forming an expectation of annual yield going forward, is looking at the history above, for a sense of stability over time. This can help in judging whether the most recent dividends from these companies are likely to continue. If they do continue, the current estimated yields on annualized basis would be 3.06% for Cedar Fair LP, 8.53% for Kohl's Corp., and 1.95% for Texas Roadhouse Inc.
In Friday trading, Cedar Fair LP shares are currently up about 1.3%, Kohl's Corp. shares are off about 1.7%, and Texas Roadhouse Inc shares are up about 0.8% on the day.
Click here to learn which 25 S.A.F.E. dividend stocks should be on your radar screen »
Also see:
OVAS Insider Buying
AYI Price Target
Top Ten Hedge Funds Holding ESG
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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Therefore, a good first due diligence step in forming an expectation of annual yield going forward, is looking at the history above, for a sense of stability over time. If they do continue, the current estimated yields on annualized basis would be 3.06% for Cedar Fair LP, 8.53% for Kohl's Corp., and 1.95% for Texas Roadhouse Inc. dividend stocks should be on your radar screen » Also see: OVAS Insider Buying AYI Price Target Top Ten Hedge Funds Holding ESG 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 at the universe of stocks we cover at Dividend Channel, on 12/5/23, Cedar Fair LP (Symbol: FUN), Kohl's Corp. (Symbol: KSS), and Texas Roadhouse Inc (Symbol: TXRH) will all trade ex-dividend for their respective upcoming dividends. Cedar Fair LP will pay its quarterly dividend of $0.30 on 12/20/23, Kohl's Corp. will pay its quarterly dividend of $0.50 on 12/20/23, and Texas Roadhouse Inc will pay its quarterly dividend of $0.55 on 12/26/23. Cedar Fair LP (Symbol: FUN): Kohl's Corp. (Symbol: KSS): Texas Roadhouse Inc (Symbol: TXRH): In general, dividends are not always predictable, following the ups and downs of company profits over time.
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Looking at the universe of stocks we cover at Dividend Channel, on 12/5/23, Cedar Fair LP (Symbol: FUN), Kohl's Corp. (Symbol: KSS), and Texas Roadhouse Inc (Symbol: TXRH) will all trade ex-dividend for their respective upcoming dividends. Cedar Fair LP will pay its quarterly dividend of $0.30 on 12/20/23, Kohl's Corp. will pay its quarterly dividend of $0.50 on 12/20/23, and Texas Roadhouse Inc will pay its quarterly dividend of $0.55 on 12/26/23. Cedar Fair LP (Symbol: FUN): Kohl's Corp. (Symbol: KSS): Texas Roadhouse Inc (Symbol: TXRH): In general, dividends are not always predictable, following the ups and downs of company profits over time.
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As a percentage of FUN's recent stock price of $39.22, this dividend works out to approximately 0.76%, so look for shares of Cedar Fair LP to trade 0.76% lower — all else being equal — when FUN shares open for trading on 12/5/23. This can help in judging whether the most recent dividends from these companies are likely to continue. If they do continue, the current estimated yields on annualized basis would be 3.06% for Cedar Fair LP, 8.53% for Kohl's Corp., and 1.95% for Texas Roadhouse Inc.
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6066ca3c-81a9-4d25-afc6-39aa57d56108
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715270.0
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2023-12-01 00:00:00 UTC
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Ex-Dividend Reminder: Pjt Partners, NVIDIA and Avnet
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DCOMP
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https://www.nasdaq.com/articles/ex-dividend-reminder%3A-pjt-partners-nvidia-and-avnet
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nan
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nan
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Looking at the universe of stocks we cover at Dividend Channel, on 12/5/23, Pjt Partners Inc Class A (Symbol: PJT), NVIDIA Corp (Symbol: NVDA), and Avnet Inc (Symbol: AVT) will all trade ex-dividend for their respective upcoming dividends. Pjt Partners Inc Class A will pay its quarterly dividend of $0.25 on 12/20/23, NVIDIA Corp will pay its quarterly dividend of $0.04 on 12/28/23, and Avnet Inc will pay its quarterly dividend of $0.31 on 12/20/23. As a percentage of PJT's recent stock price of $90.06, this dividend works out to approximately 0.28%, so look for shares of Pjt Partners Inc Class A to trade 0.28% lower — all else being equal — when PJT shares open for trading on 12/5/23. Similarly, investors should look for NVDA to open 0.01% lower in price and for AVT to open 0.66% lower, all else being equal.
Below are dividend history charts for PJT, NVDA, and AVT, showing historical dividends prior to the most recent ones declared.
Pjt Partners Inc Class A (Symbol: PJT):
NVIDIA Corp (Symbol: NVDA):
Avnet Inc (Symbol: AVT):
In general, dividends are not always predictable, following the ups and downs of company profits over time. Therefore, a good first due diligence step in forming an expectation of annual yield going forward, is looking at the history above, for a sense of stability over time. This can help in judging whether the most recent dividends from these companies are likely to continue. If they do continue, the current estimated yields on annualized basis would be 1.11% for Pjt Partners Inc Class A, 0.03% for NVIDIA Corp, and 2.65% for Avnet Inc.
In Friday trading, Pjt Partners Inc Class A shares are currently up about 3.5%, NVIDIA Corp shares are off about 2.9%, and Avnet Inc shares are off about 0.3% on the day.
Click here to learn which 25 S.A.F.E. dividend stocks should be on your radar screen »
Also see:
TLIS Insider Buying
ECL Average Annual Return
Institutional Holders of CCRV
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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Therefore, a good first due diligence step in forming an expectation of annual yield going forward, is looking at the history above, for a sense of stability over time. If they do continue, the current estimated yields on annualized basis would be 1.11% for Pjt Partners Inc Class A, 0.03% for NVIDIA Corp, and 2.65% for Avnet Inc. dividend stocks should be on your radar screen » Also see: TLIS Insider Buying ECL Average Annual Return Institutional Holders of CCRV 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 at the universe of stocks we cover at Dividend Channel, on 12/5/23, Pjt Partners Inc Class A (Symbol: PJT), NVIDIA Corp (Symbol: NVDA), and Avnet Inc (Symbol: AVT) will all trade ex-dividend for their respective upcoming dividends. Pjt Partners Inc Class A will pay its quarterly dividend of $0.25 on 12/20/23, NVIDIA Corp will pay its quarterly dividend of $0.04 on 12/28/23, and Avnet Inc will pay its quarterly dividend of $0.31 on 12/20/23. Pjt Partners Inc Class A (Symbol: PJT): NVIDIA Corp (Symbol: NVDA): Avnet Inc (Symbol: AVT): In general, dividends are not always predictable, following the ups and downs of company profits over time.
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Looking at the universe of stocks we cover at Dividend Channel, on 12/5/23, Pjt Partners Inc Class A (Symbol: PJT), NVIDIA Corp (Symbol: NVDA), and Avnet Inc (Symbol: AVT) will all trade ex-dividend for their respective upcoming dividends. As a percentage of PJT's recent stock price of $90.06, this dividend works out to approximately 0.28%, so look for shares of Pjt Partners Inc Class A to trade 0.28% lower — all else being equal — when PJT shares open for trading on 12/5/23. Pjt Partners Inc Class A (Symbol: PJT): NVIDIA Corp (Symbol: NVDA): Avnet Inc (Symbol: AVT): In general, dividends are not always predictable, following the ups and downs of company profits over time.
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As a percentage of PJT's recent stock price of $90.06, this dividend works out to approximately 0.28%, so look for shares of Pjt Partners Inc Class A to trade 0.28% lower — all else being equal — when PJT shares open for trading on 12/5/23. This can help in judging whether the most recent dividends from these companies are likely to continue. If they do continue, the current estimated yields on annualized basis would be 1.11% for Pjt Partners Inc Class A, 0.03% for NVIDIA Corp, and 2.65% for Avnet Inc.
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99c9afc6-b1bc-4e99-a000-ea9b4e4c12a8
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715271.0
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2023-12-01 00:00:00 UTC
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Friday Pre-Market Quiets, Indices Slightly Lower
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DCOMP
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https://www.nasdaq.com/articles/friday-pre-market-quiets-indices-slightly-lower
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We enter this Friday morning with pre-market futures down slightly, and with no new majorly impactful data releases to affect investment trajectories ahead of the bell. That’s OK; we’ve had an eventful week — from housing data to PCE to Q3 earnings from important companies like Salesforce CRM — so perhaps this is a good opportunity to review now that the smoke has cleared. Currently, the Dow is -8 points, the S&P 500 is -7, the Nasdaq -39 points and the small-cap Russell 2000 -2.
Only the Nasdaq is down over the past week of trading, with the blue-chip Dow leading the way, +1.9%. The past month of trading has been extraordinary, with the S&P +7.4%, both the Dow and Russell +7.9% and the Nasdaq +8.1%. This has helped all major indices improve trading year to date, with one month to go in the year: the Russell +2.8%, the Dow +8.2%, the S&P +18.8% and the Nasdaq up a stellar +45.7%, as 2023 has become the year of A.I. speculation.
We’re also seeing meaningful improvements on inflation metrics. This week alone, we’ve seen both new and pending home sales dip lower (Case-Shiller home prices were flat), PCE was flat on headline but lower on year-over-year core, trade balance sank lower but Chicago PMI was surprisingly strong. Initial Jobless Claims were up slightly but Continuing Claims were up big — headed toward 2 million in the next week or two, if trends hold.
Overall, market participants have clearly been encouraged: inflation is at last coming under control, though gradually — the better the escape a recession with. Consumer sentiment is up, so that portends a healthy holiday shopping season. The Fed won’t be raising rates again this cycle, and now the watch is on for when the monetary policy body might start cutting (hint: not too soon). In short, we’re set to close calendar 2023 as a nice rebound to a rather dismal 2022, especially on the Nasdaq/tech side.
After today’s open, we’ll see new Manufacturing data from S&P PMI and ISM, both for November, and both expected to improve month over month. Construction Spending for October is expected to tick down, and we’ll be hearing from Fed Chair Jay Powell and Chicago Fed President Austan Goolsbee today, among others. Auto Sales numbers will be filing in throughout the day, as well.
None of this is expected to dramatically alter current market conditions, and we might expect Friday (lower) volumes of trading. Next week brings us monthly jobs numbers, and they will tell the tale of the cooling economy. Bond yields currently sit at 4.685% on the 2-year and 4.318% on 10s. Happy Friday!
Questions or comments about this article and/or author? Click here>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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
Salesforce Inc. (CRM) : Free Stock Analysis Report
Invesco QQQ (QQQ): ETF Research Reports
SPDR S&P 500 ETF (SPY): ETF Research Reports
SPDR Dow Jones Industrial Average ETF (DIA): ETF Research Reports
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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We enter this Friday morning with pre-market futures down slightly, and with no new majorly impactful data releases to affect investment trajectories ahead of the bell. That’s OK; we’ve had an eventful week — from housing data to PCE to Q3 earnings from important companies like Salesforce CRM — so perhaps this is a good opportunity to review now that the smoke has cleared. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
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This week alone, we’ve seen both new and pending home sales dip lower (Case-Shiller home prices were flat), PCE was flat on headline but lower on year-over-year core, trade balance sank lower but Chicago PMI was surprisingly strong. Click to get this free report Salesforce Inc. (CRM) : Free Stock Analysis Report Invesco QQQ (QQQ): ETF Research Reports SPDR S&P 500 ETF (SPY): ETF Research Reports SPDR Dow Jones Industrial Average ETF (DIA): ETF Research Reports 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 has helped all major indices improve trading year to date, with one month to go in the year: the Russell +2.8%, the Dow +8.2%, the S&P +18.8% and the Nasdaq up a stellar +45.7%, as 2023 has become the year of A.I. This week alone, we’ve seen both new and pending home sales dip lower (Case-Shiller home prices were flat), PCE was flat on headline but lower on year-over-year core, trade balance sank lower but Chicago PMI was surprisingly strong. Click to get this free report Salesforce Inc. (CRM) : Free Stock Analysis Report Invesco QQQ (QQQ): ETF Research Reports SPDR S&P 500 ETF (SPY): ETF Research Reports SPDR Dow Jones Industrial Average ETF (DIA): ETF Research Reports To read this article on Zacks.com click here.
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This has helped all major indices improve trading year to date, with one month to go in the year: the Russell +2.8%, the Dow +8.2%, the S&P +18.8% and the Nasdaq up a stellar +45.7%, as 2023 has become the year of A.I. After today’s open, we’ll see new Manufacturing data from S&P PMI and ISM, both for November, and both expected to improve month over month. Free: See Our Top Stock and 4 Runners Up >> Want the latest recommendations from Zacks Investment Research?
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a955e39b-04c5-48af-8cde-7911316ca5c9
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715272.0
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2023-12-01 00:00:00 UTC
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2 Growth Stocks to Buy With $1,000 Right Now
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https://www.nasdaq.com/articles/2-growth-stocks-to-buy-with-%241000-right-now-2
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nan
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2022 was quite a disappointing year for the stock market, with U.S. equities posting their worst performance of the past decade. However, 2023 looks likely to end on a more promising note, especially after higher-than-expected real gross domestic product growth (a measure of inflation-adjusted economic activity) and lower-than-anticipated inflation in the third quarter.
In this improving macroeconomic environment, it makes sense for retail investors to opt for stocks of fundamentally strong companies riding secular tailwinds. In case you have $1,000 not required for paying bills or other contingencies, you could potentially generate solid returns by investing in growth stocks such as Palantir Technologies (NYSE: PLTR) and Confluent (NASDAQ: CFLT). Here's why.
Palantir Technologies
Long before the investment community became aware of the power of proprietary data, Palantir Technologies' software platform was helping U.S. military and intelligence agencies uncover trends and patterns in signal intelligence reports and confidential informant reports.
In fact, the company's breakthrough moment was when its software was credited for helping find the hideout of Osama Bin Laden. Since then, for the past eight years, the company has also extended the reach of its software platforms to analyze huge amounts of data and derive contextual insights for commercial customers and nonmilitary organizations.
Palantir has also been at the forefront of the ongoing AI revolution. Its recently launched Artificial Intelligence Platform (AIP) -- which combines the company's legacy machine learning technology with large language models (LLMs) -- has significantly enhanced the company's analytics capabilities. Many customers across industries have pointed to significant productivity gains in terms of time and speed with the use of AIP.
Notably, Palantir's AIP was used by nearly 300 organizations by the end of the third quarter -- almost triple the number of AIP users it had at the end of the second quarter.
In the past five months, Palantir has conducted several AIP Bootcamps allowing prospective customers to have hands-on experience with its AIP in solving real-time problems. This innovative go-to-market strategy is playing a pivotal role in improving unit economics for initial contact with prospective clients, reducing conversion time, and accelerating customer negotiations.
Unlike traditional pivot projects that require one to three months, AIP Bootcamps require five or fewer days to allow customers to get acquainted with the product. Furthermore, this strategy also allows the company to target multiple clients simultaneously and improve the productivity of the IT team. Palantir had planned to conduct AIP Bootcamps for nearly 140 organizations by the end of November 2023.
The company's financials currently do not reflect the complete impact of its AIP or new go-to-market strategy. Still, Palantir reported stellar numbers in Q3, with revenue and earnings handily beating consensus estimates. Notably, Q3 also marked the fourth consecutive quarter of profitability based on generally accepted accounting principles (GAAP).
Palantir is currently trading at a price-to-sales multiple of 20.7, far higher than the software industry median multiple of 2.1. While the rich valuation may deter some investors, considering the company's brand presence in the field of data analytics, the transformative potential of AIP software, and improving financials, its current valuation may actually prove conservative in the long run. This makes Palantir a solid stock to buy now.
Confluent
A leader in data streaming, Confluent reported solid performance in Q3, with revenue and earnings surpassing consensus estimates. Even so, the stock has taken a severe beating as investors are disappointed with the company's weaker-than-expected Q4 guidance. CEO Jay Kreps has highlighted several reasons for the slowdown in consumption of Confluent's services, including two customers who slowed spending due to company-specific reasons, geopolitical tensions in the Middle East, and a potential U.S. government shutdown.
However, there are still several reasons to like the stock.
First, despite the short-term macro headwinds, Confluent is currently targeting a massive $60 billion total addressable market. Previously, businesses would first collect and store data in physical servers and process it at a later date.
However, with the advent of advanced technologies such as autonomous driving, edge computing, the Internet of Things, and programmatic advertising, demand for processing real-time continuous data has been on the rise. In fact, according to International Data Corporation, 90% of the world's largest 1,000 companies will require data-streaming technology for real-time data processing by 2025.
To capitalize on this opportunity, Confluent has added several paid enterprise-grade features to the open-source data-streaming platform Apache Kafka. Confluent's upgraded cloud-native data-streaming platform is more scalable, easy to deploy and maintain, cost-effective, and more efficient for its clients.
Second, in January 2023, Confluent announced the acquisition of Immerok, a major contributor to Apache Flink, a technology used to build data-stream processing applications. By offering Confluent Cloud and Flink as a single solution, the company may attract even more customers.
Finally, although Confluent's Q4 guidance was disappointing, the long-term growth potential of the company is still intact. Confluent posted its first-ever, non-GAAP profits of $6.3 million in Q3, a dramatic improvement from a $38 million loss in the same quarter of the prior year. Confluent has guided for $768 million to $769 million of revenue for fiscal 2023, up 31% year over year at the midpoint. Furthermore, the company has forecast a reasonably healthy 22% year-over-year jump in revenue for fiscal 2024
Considering the huge addressable market opportunity, integration of Flink with Confluent Cloud, and healthy financials, Confluent seems to be an attractive pick now.
10 stocks we like better than Palantir Technologies
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 Palantir Technologies 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 November 20, 2023
Manali Bhade has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Confluent and Palantir Technologies. 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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In case you have $1,000 not required for paying bills or other contingencies, you could potentially generate solid returns by investing in growth stocks such as Palantir Technologies (NYSE: PLTR) and Confluent (NASDAQ: CFLT). Since then, for the past eight years, the company has also extended the reach of its software platforms to analyze huge amounts of data and derive contextual insights for commercial customers and nonmilitary organizations. This innovative go-to-market strategy is playing a pivotal role in improving unit economics for initial contact with prospective clients, reducing conversion time, and accelerating customer negotiations.
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In case you have $1,000 not required for paying bills or other contingencies, you could potentially generate solid returns by investing in growth stocks such as Palantir Technologies (NYSE: PLTR) and Confluent (NASDAQ: CFLT). Confluent A leader in data streaming, Confluent reported solid performance in Q3, with revenue and earnings surpassing consensus estimates. Furthermore, the company has forecast a reasonably healthy 22% year-over-year jump in revenue for fiscal 2024 Considering the huge addressable market opportunity, integration of Flink with Confluent Cloud, and healthy financials, Confluent seems to be an attractive pick now.
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In case you have $1,000 not required for paying bills or other contingencies, you could potentially generate solid returns by investing in growth stocks such as Palantir Technologies (NYSE: PLTR) and Confluent (NASDAQ: CFLT). Palantir Technologies Long before the investment community became aware of the power of proprietary data, Palantir Technologies' software platform was helping U.S. military and intelligence agencies uncover trends and patterns in signal intelligence reports and confidential informant reports. Furthermore, the company has forecast a reasonably healthy 22% year-over-year jump in revenue for fiscal 2024 Considering the huge addressable market opportunity, integration of Flink with Confluent Cloud, and healthy financials, Confluent seems to be an attractive pick now.
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Notably, Palantir's AIP was used by nearly 300 organizations by the end of the third quarter -- almost triple the number of AIP users it had at the end of the second quarter. Furthermore, this strategy also allows the company to target multiple clients simultaneously and improve the productivity of the IT team. In fact, according to International Data Corporation, 90% of the world's largest 1,000 companies will require data-streaming technology for real-time data processing by 2025.
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1a16b78c-32cd-489c-9ef8-da6e3117f18a
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715273.0
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2023-12-01 00:00:00 UTC
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Is This High-Flying Cathie Wood AI Stock Still a Buy?
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https://www.nasdaq.com/articles/is-this-high-flying-cathie-wood-ai-stock-still-a-buy
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nan
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nan
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In this video, I will talk about UiPath (NYSE: PATH), the recent third-quarter earnings report. Growth investor Cathie Wood also believes in the company's future; it is the fourth-largest holding across all Ark Investment Management's ETFs.
*Stock prices used were from the trading day of Nov. 30, 2023. The video was published on Dec. 1, 2023.
10 stocks we like better than UiPath
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 UiPath 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 November 29, 2023
Neil Rozenbaum has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends UiPath. The Motley Fool has a disclosure policy. Neil is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through his link, he will earn some extra money that supports his channel. His opinions remain his 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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In this video, I will talk about UiPath (NYSE: PATH), the recent third-quarter earnings report. Growth investor Cathie Wood also believes in the company's future; it is the fourth-largest holding across all Ark Investment Management's ETFs. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.
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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 November 29, 2023 Neil Rozenbaum has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends UiPath.
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10 stocks we like better than UiPath 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. See the 10 stocks *Stock Advisor returns as of November 29, 2023 Neil Rozenbaum has no position in any of the stocks mentioned.
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See the 10 stocks *Stock Advisor returns as of November 29, 2023 Neil Rozenbaum has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends UiPath. His opinions remain his own and are unaffected by The Motley Fool.
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9a19b305-e89b-4096-83ab-d2dbb458d17a
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715274.0
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2023-12-01 00:00:00 UTC
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Tanger (SKT) Acquires Bridge Street Town Centre in Huntsville
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DCOMP
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https://www.nasdaq.com/articles/tanger-skt-acquires-bridge-street-town-centre-in-huntsville
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nan
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nan
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Tanger Inc. SKT announced the acquisition of the Bridge Street Town Centre in Huntsville, AL. This strategic move aligns with Tanger's external growth strategy, aiming to capitalize on the booming market of Huntsville, known for its rapid economic development and technological prowess.
Tanger acquired this 825,000-square-foot open-air lifestyle center for $193.5 million, utilizing cash on hand and available liquidity. The center, boasting more than 80 retail stores, restaurants and entertainment venues, serves as the dominant shopping destination in Huntsville, one of the fastest-growing markets in the United States. Management anticipates a first-year return in the mid-eight percent range, with prospects for additional growth over time.
Stephen Yalof, the president and CEO of Tanger, emphasized the company's commitment to value creation through strategic investments in dominant open-air retail destinations. The addition of Bridge Street Town Centre aligns seamlessly with Tanger's long-term strategy, leveraging its operational, leasing and marketing platforms. The move signifies Tanger's foray into open-air lifestyle centers, diversifying its portfolio.
Situated within Cummings Research Park, the second largest research park in the United States and close to Redstone Arsenal, the center benefits from its prime location in a technology and military hub. With a diverse tenant mix, including the market's only Apple Store and top-tier brands like Lululemon (LULU), Sephora and Athleta, Bridge Street Town Centre enjoys more than 93% occupancy. The center also offers a variety of dining options and entertainment venues, contributing to its appeal among residents and transient employees.
Huntsville is home to the U.S. Space and Rocket Center. It plays a crucial role as a key location for the U.S. military, space exploration technology, biotechnology, manufacturing and information technology sectors and is aptly called 'The Rocket City'. Home to more than 40 Fortune 500 companies, Huntsville boasts a resilient and dynamic economy, fostering new residential and office developments. Bridge Street Town Centre's location within this thriving city positions it as a key player in the local retail landscape.
Tanger funded the Huntsville acquisition, along with the recent addition of Asheville Outlets, totaling $263.5 million, through cash on hand and draws on its credit facility. Additionally, the company raised $57.5 million in the fourth quarter through its at-the-market (ATM) equity program, selling 2.3 million shares at an average price of $25.16 per share.
Tanger's acquisition of Bridge Street Town Centre marks a strategic move in the company's expansion strategy, further solidifying its position in the retail and outlet shopping industries. With a diversified portfolio of 39 properties, Tanger continues to innovate the retail experience for its shoppers while strategically navigating the dynamic landscape of growth markets like Huntsville. Investors can find confidence in Tanger's ability to identify and capitalize on lucrative opportunities, positioning the company for sustained success in the evolving retail sector.
So far in the quarter, shares of this Zacks Rank #1 (Strong Buy) company have risen 10.4%, outperforming its industry's upside of 8.9%.
Image Source: Zacks Investment Research
Other Stocks to Consider
Some other top-ranked stocks from the retail REIT sector are Urban Edge Properties UE and Acadia Realty Trust AKR, each carrying 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 Urban Edge Properties’ ongoing year’s FFO per share has been raised 1.7% over the past two months to $1.19.
The Zacks Consensus Estimate for Acadia Realty Trust’s current-year FFO per share has moved 2.3% northward over the past two months 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 Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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
Urban Edge Properties (UE) : 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 aligns with Tanger's external growth strategy, aiming to capitalize on the booming market of Huntsville, known for its rapid economic development and technological prowess. With a diverse tenant mix, including the market's only Apple Store and top-tier brands like Lululemon (LULU), Sephora and Athleta, Bridge Street Town Centre enjoys more than 93% occupancy. Tanger's acquisition of Bridge Street Town Centre marks a strategic move in the company's expansion strategy, further solidifying its position in the retail and outlet shopping industries.
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Tanger's acquisition of Bridge Street Town Centre marks a strategic move in the company's expansion strategy, further solidifying its position in the retail and outlet shopping industries. Image Source: Zacks Investment Research Other Stocks to Consider Some other top-ranked stocks from the retail REIT sector are Urban Edge Properties UE and Acadia Realty Trust AKR, each carrying a Zacks Rank #2 (Buy) at present. Click to get this free report Acadia Realty Trust (AKR) : Free Stock Analysis Report Tanger Inc. (SKT) : Free Stock Analysis Report Urban Edge Properties (UE) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Tanger's acquisition of Bridge Street Town Centre marks a strategic move in the company's expansion strategy, further solidifying its position in the retail and outlet shopping industries. Image Source: Zacks Investment Research Other Stocks to Consider Some other top-ranked stocks from the retail REIT sector are Urban Edge Properties UE and Acadia Realty Trust AKR, each carrying a Zacks Rank #2 (Buy) at present. Click to get this free report Acadia Realty Trust (AKR) : Free Stock Analysis Report Tanger Inc. (SKT) : Free Stock Analysis Report Urban Edge Properties (UE) : Free Stock Analysis Report To read this article on Zacks.com click here.
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The center, boasting more than 80 retail stores, restaurants and entertainment venues, serves as the dominant shopping destination in Huntsville, one of the fastest-growing markets in the United States. Tanger's acquisition of Bridge Street Town Centre marks a strategic move in the company's expansion strategy, further solidifying its position in the retail and outlet shopping industries. Image Source: Zacks Investment Research Other Stocks to Consider Some other top-ranked stocks from the retail REIT sector are Urban Edge Properties UE and Acadia Realty Trust AKR, each carrying a Zacks Rank #2 (Buy) at present.
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715275.0
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2023-12-01 00:00:00 UTC
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4 Growth Stocks to Buy and Hold Forever
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DCOMP
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https://www.nasdaq.com/articles/4-growth-stocks-to-buy-and-hold-forever-13
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nan
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Long-term investing is the most straightforward way to build wealth in the stock market. Most of the market's gains come from a relatively small portion of stocks. Finding, buying, and holding exceptional companies can remarkably affect your investment returns.
Ironically, you don't need to find the next big thing to strike it big. Here are four companies you may already be familiar with today. These winners have proven themselves and still have plenty of long-term growth potential to merit a long-term place in your portfolio.
1. Amazon
E-commerce has become a way of life for American consumers, and Amazon (NASDAQ: AMZN) is arguably the biggest reason why. The company began selling books online in the late 1990s, but today it sells virtually anything you can think of and commands nearly 40% of all e-commerce sales in the United States.
Amazon's business has steadily expanded to new markets, including a cloud computing segment, advertising, entertainment, and more. The company will soon enter the automotive business, selling vehicles online late next year.
The company's massive size and willingness to seek new growth opportunities are a powerful one-two punch. Analysts believe Amazon's earnings per share (EPS) will grow by an average of 27% annually, making it a compelling long-term stock to own.
2. Visa
Cash has become a dated form of payment thanks largely to payment cards and networks like Visa (NYSE: V). The company's payments network is the largest in America and globally. It makes money by charging merchants a small fee whenever a customer uses a Visa-powered credit/debit card or digital wallet. You could think of Visa as a tollbooth, collecting from all the transactions traveling on its highway-like network.
Visa is one of the best companies equipped for inflation because its fees are based on a percentage of the transaction amount. In other words, if inflation raises prices, Visa's revenue grows. The company is extremely profitable because revenue grows faster than its costs to maintain the business. Roughly $0.60 of every revenue dollar ends up as free cash flow.
Analysts believe the company will grow earnings by 14% annually, on average, so there is still juice left to squeeze from this financial powerhouse.
3. Uber Technologies
Ride-hailing is still a relatively new industry, having started in 2009 when Uber Technologies (NYSE: UBER) launched its app. Today, Uber dominates ride-hailing in the U.S., with roughly 75% of the market -- competitor Lyft has the remaining quarter. The company spent years losing money, which has led people to question the stock.
However, Uber has turned a major financial corner in recent years. Today, it is producing billions in cash flow, and analysts are giddy about the company's future earnings growth, calling for annual growth averaging 68% over the coming years. The company's massive market share acts as a distribution network to quickly ramp up new services, like freight and business services, car rentals, and food delivery.
4. Chipotle Mexican Grill
Successful businesses don't need to be complicated. Chipotle Mexican Grill (NYSE: CMG) has turned beans and rice into a multi-billion-dollar empire through crisp execution and branding, creating a dedicated customer following. Chipotle owns its restaurant locations and has followed a growth strategy of reinvesting its profits to open new stores. Today, the company has approximately 3,321 locations.
That leaves plenty of room for more. Will Chipotle someday catch up to McDonald's at over 38,000 worldwide? Maybe not, but it can certainly open up stores for years without worries about oversaturating the market.
Additionally, the company dedicates a chunk of profits to share repurchases, further growing EPS. Chipotle has lowered its outstanding shares by nearly 16% since its IPO. That winning recipe, along with expected 23% average annual earnings growth, make Chipotle another stock you can buy and hold.
10 stocks we like better than Amazon
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 Amazon 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 November 28, 2023
John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Justin Pope has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Amazon, Chipotle Mexican Grill, Uber Technologies, and Visa. 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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Analysts believe Amazon's earnings per share (EPS) will grow by an average of 27% annually, making it a compelling long-term stock to own. Chipotle Mexican Grill (NYSE: CMG) has turned beans and rice into a multi-billion-dollar empire through crisp execution and branding, creating a dedicated customer following. That winning recipe, along with expected 23% average annual earnings growth, make Chipotle another stock you can buy and hold.
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Analysts believe Amazon's earnings per share (EPS) will grow by an average of 27% annually, making it a compelling long-term stock to own. That winning recipe, along with expected 23% average annual earnings growth, make Chipotle another stock you can buy and hold. The Motley Fool has positions in and recommends Amazon, Chipotle Mexican Grill, Uber Technologies, and Visa.
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Analysts believe Amazon's earnings per share (EPS) will grow by an average of 27% annually, making it a compelling long-term stock to own. Today, it is producing billions in cash flow, and analysts are giddy about the company's future earnings growth, calling for annual growth averaging 68% over the coming years. See the 10 stocks *Stock Advisor returns as of November 28, 2023 John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors.
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Analysts believe Amazon's earnings per share (EPS) will grow by an average of 27% annually, making it a compelling long-term stock to own. That's right -- they think these 10 stocks are even better buys. The Motley Fool has positions in and recommends Amazon, Chipotle Mexican Grill, Uber Technologies, and Visa.
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715276.0
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2023-12-01 00:00:00 UTC
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Tesla falls on long wait for Cybertruck payoff, hefty price tag
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https://www.nasdaq.com/articles/tesla-falls-on-long-wait-for-cybertruck-payoff-hefty-price-tag-0
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By Samrhitha A and Chavi Mehta
Dec 1 (Reuters) - Tesla shares TSLA.O fell about 2% on Friday after the highly anticipated launch of its Cybertruck left analysts concerned about the electric vehicle's steep price tag and a longer wait for significant financial payoff.
The $60,990 starting price for the long-delayed Cybertruck is more than 50% higher than what CEO Elon Musk had touted in 2019 and a cost that analysts have said will draw select, affluent buyers.
"Cybertruck does not significantly move the financial needle for Tesla in FY24..," Wedbush said in a note, while Bernstein analysts forecast 250 deliveries this year and 75,000 for next year, saying both "may be ambitious".
Musk has said Tesla was likely to reach a production rate of roughly 250,000 Cybertrucks a year in 2025.
The company has repeatedly warned that it would face significant challenges in ramping the product and becoming free cash flow positive - likely not until mid-2025 - which could negatively impact profitability.
"Tesla has a product problem - i.e., an older line-up that does not address enough of the market, and has no new mass market offerings until likely late 2025," Bernstein analysts added.
The Cybertruck, Tesla's first new model in nearly four years, is critical to its reputation as a maker of innovative vehicles, especially at a time when the company is battling softening electric-vehicle demand and rising competition.
At $235.45, Tesla was set to lose about $15 billion in market valuation on Friday. It is currently trading at about 65 times its 12-month forward earnings estimates, according to LSEG data.
The stock has nearly doubled this year, after having fallen more than 65% in 2022.
The Cybertruck, two years behind schedule, enters a hot pickup truck market to compete with the likes of Ford's F.N F150 Lightning, Rivian Automotive's RIVN.O R1T and General Motors' GM.N Hummer EV.
"Cybertruck is more of a 'halo' product, in our view, to attract consumers to the brand for the mainstream vehicles Model 3 and Model Y," RBC Capital Markets analyst Tom Narayan said.
Tesla shares nearly double so far this year https://tmsnrt.rs/46K4sZ4
(Reporting by Samrhitha Arunasalam and Chavi Mehta in Bengaluru; Editing by Devika Syamnath)
((Samrhitha.A@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 Samrhitha A and Chavi Mehta Dec 1 (Reuters) - Tesla shares TSLA.O fell about 2% on Friday after the highly anticipated launch of its Cybertruck left analysts concerned about the electric vehicle's steep price tag and a longer wait for significant financial payoff. The Cybertruck, Tesla's first new model in nearly four years, is critical to its reputation as a maker of innovative vehicles, especially at a time when the company is battling softening electric-vehicle demand and rising competition. The Cybertruck, two years behind schedule, enters a hot pickup truck market to compete with the likes of Ford's F.N F150 Lightning, Rivian Automotive's RIVN.O R1T and General Motors' GM.N Hummer EV.
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By Samrhitha A and Chavi Mehta Dec 1 (Reuters) - Tesla shares TSLA.O fell about 2% on Friday after the highly anticipated launch of its Cybertruck left analysts concerned about the electric vehicle's steep price tag and a longer wait for significant financial payoff. "Cybertruck is more of a 'halo' product, in our view, to attract consumers to the brand for the mainstream vehicles Model 3 and Model Y," RBC Capital Markets analyst Tom Narayan said. Tesla shares nearly double so far this year https://tmsnrt.rs/46K4sZ4 (Reporting by Samrhitha Arunasalam and Chavi Mehta in Bengaluru; Editing by Devika Syamnath) ((Samrhitha.A@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 Samrhitha A and Chavi Mehta Dec 1 (Reuters) - Tesla shares TSLA.O fell about 2% on Friday after the highly anticipated launch of its Cybertruck left analysts concerned about the electric vehicle's steep price tag and a longer wait for significant financial payoff. "Cybertruck does not significantly move the financial needle for Tesla in FY24..," Wedbush said in a note, while Bernstein analysts forecast 250 deliveries this year and 75,000 for next year, saying both "may be ambitious". The Cybertruck, Tesla's first new model in nearly four years, is critical to its reputation as a maker of innovative vehicles, especially at a time when the company is battling softening electric-vehicle demand and rising competition.
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By Samrhitha A and Chavi Mehta Dec 1 (Reuters) - Tesla shares TSLA.O fell about 2% on Friday after the highly anticipated launch of its Cybertruck left analysts concerned about the electric vehicle's steep price tag and a longer wait for significant financial payoff. The $60,990 starting price for the long-delayed Cybertruck is more than 50% higher than what CEO Elon Musk had touted in 2019 and a cost that analysts have said will draw select, affluent buyers. "Cybertruck does not significantly move the financial needle for Tesla in FY24..," Wedbush said in a note, while Bernstein analysts forecast 250 deliveries this year and 75,000 for next year, saying both "may be ambitious".
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2023-12-01 00:00:00 UTC
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General Electric's (GE) Unit Clinches Turbine Deal in India
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https://www.nasdaq.com/articles/general-electrics-ge-unit-clinches-turbine-deal-in-india
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General Electric Company’s GE unit, GE Vernova (combined operations of GE Digital, Renewable Energy and GE Power), has secured a deal from O2 Power Private Limited to deliver, install and commission 36 units of workhorse 2.7-132 onshore wind turbines. The turbine units will be installed at a 97 MW wind power project in Maharashtra, India.
The wind power facility is planned to be commissioned in phases with full commissioning in the first half of 2025. Through this deal, many industries and commercial foundations will be able to avail renewable energy. This collaboration will also support India’s target to reach 500 gigawatt (GW) of renewable energy capacity by 2030. Including the latest one, General Electric has received 3.5 GW of orders to date for its Indian-made 2.7-132 wind turbines.
Lately, General Electric has received a series of deals, which are likely to drive its growth. In August this year, GE secured two orders from Royal Golden Eagle Group’s subsidiary East Asia Power (Yangjiang) Co., Ltd. and Beijing Energy International Holding Co., Ltd. to deliver four units of 6F.03 gas turbines.
Also, in July 2023, the company secured a deal from Hafslund Eco to supply rotor poles for Norway-based Aurland 1 hydropower plant’s 3x 280 MW / 300 MVA water-cooled generators.
Strong Segmental Performance
General Electric is benefiting from the strong performance of the Aerospace segment due to robust demand and solid execution in commercial engines and services. After months of softness, a rebound in demand in the Power segment augurs well for General Electric. Strength in GE Gas Power’s heavy-duty gas turbines is aiding the Power segment. With higher equipment demand at Grid and Onshore Wind in North America, signs of progress in the Renewables segment are encouraging.
Price Performance
In the past year, the GE stock has increased 40.2% against the industry’s 10.5% decrease.
Image Source: Zacks Investment Research
Zacks Rank & Other Stocks to Consider
General Electric currently carries a Zacks Rank #2 (Buy). Some other top-ranked companies have been discussed below.
Federal Signal Corporation FSS presently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
FSS delivered a trailing four-quarter average earnings surprise of 8.1%. In the past 60 days, the Zacks Consensus Estimate for Federal Signal’s 2023 earnings has increased 3.3%. The stock has risen 39.5% in the past year.
ITT Inc. ITT presently carries a Zacks Rank of 2. It has a trailing four-quarter average earnings surprise of 8%.
The consensus estimate for ITT’s 2023 earnings has increased 2% in the past 60 days. Shares of ITT have jumped 27.8% 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 24.9% in the past year.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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
General Electric Company (GE) : Free Stock Analysis Report
A. O. Smith Corporation (AOS) : Free Stock Analysis Report
ITT Inc. (ITT) : Free Stock Analysis Report
Federal Signal Corporation (FSS) : 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 August this year, GE secured two orders from Royal Golden Eagle Group’s subsidiary East Asia Power (Yangjiang) Co., Ltd. and Beijing Energy International Holding Co., Ltd. to deliver four units of 6F.03 gas turbines. Also, in July 2023, the company secured a deal from Hafslund Eco to supply rotor poles for Norway-based Aurland 1 hydropower plant’s 3x 280 MW / 300 MVA water-cooled generators. With higher equipment demand at Grid and Onshore Wind in North America, signs of progress in the Renewables segment are encouraging.
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General Electric Company’s GE unit, GE Vernova (combined operations of GE Digital, Renewable Energy and GE Power), has secured a deal from O2 Power Private Limited to deliver, install and commission 36 units of workhorse 2.7-132 onshore wind turbines. Image Source: Zacks Investment Research Zacks Rank & Other Stocks to Consider General Electric currently carries a Zacks Rank #2 (Buy). Click to get this free report General Electric Company (GE) : Free Stock Analysis Report A. O. Smith Corporation (AOS) : Free Stock Analysis Report ITT Inc. (ITT) : Free Stock Analysis Report Federal Signal Corporation (FSS) : Free Stock Analysis Report To read this article on Zacks.com click here.
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General Electric Company’s GE unit, GE Vernova (combined operations of GE Digital, Renewable Energy and GE Power), has secured a deal from O2 Power Private Limited to deliver, install and commission 36 units of workhorse 2.7-132 onshore wind turbines. Image Source: Zacks Investment Research Zacks Rank & Other Stocks to Consider General Electric currently carries a Zacks Rank #2 (Buy). Click to get this free report General Electric Company (GE) : Free Stock Analysis Report A. O. Smith Corporation (AOS) : Free Stock Analysis Report ITT Inc. (ITT) : Free Stock Analysis Report Federal Signal Corporation (FSS) : Free Stock Analysis Report To read this article on Zacks.com click here.
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General Electric Company’s GE unit, GE Vernova (combined operations of GE Digital, Renewable Energy and GE Power), has secured a deal from O2 Power Private Limited to deliver, install and commission 36 units of workhorse 2.7-132 onshore wind turbines. The turbine units will be installed at a 97 MW wind power project in Maharashtra, India. Image Source: Zacks Investment Research Zacks Rank & Other Stocks to Consider General Electric currently carries a Zacks Rank #2 (Buy).
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2023-12-01 00:00:00 UTC
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Alexandria (ARE) Rises 12% in a Month: Will the Trend Last?
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https://www.nasdaq.com/articles/alexandria-are-rises-12-in-a-month%3A-will-the-trend-last
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Shares of Alexandria Real Estate Equities, Inc. ARE have rallied 11.8% over the past month compared with the industry's growth of 7.5%.
Alexandria owns Class A/A+ properties in the AAA innovation cluster locations of North America, with significant market presence in Greater Boston, San Francisco Bay Area, New York City, San Diego, Seattle, Maryland and the Research Triangle.
These locations are highly appealing to life science, agtech and technology companies seeking tenancy. Moreover, they are characterized by high barriers to entry for new landlords, high barriers to exit for tenants and a limited supply of available space.
Image Source: Zacks Investment Research
Given the booming demand for life-science assets on the back of the increasing need for drug research and innovation, the company continues to witness healthy demand and maintain high occupancy levels.
In the third quarter, total leasing activity aggregated 867,582 RSF of space, of which lease renewals and re-leasing of space amounted to 396,334 RSF. Rental rate growth was 28.8% or 19.7% on a cash basis.
The occupancy of operating properties in North America remained high at 93.7% as of Sep 30, 2023. For 2023, we expect Alexandria’s same-store occupancy to be 94.1%
With artificial intelligence (AI) and machine learning (ML) tools being implemented in this industry, AI-focused life science companies require a significant lab footprint to generate the immense biological and chemical datasets needed to train AI-ML models effectively. This is likely to emerge as a key demand driver for Alexandria’s life-science assets in the upcoming period.
Alexandria enjoys a solid tenant base of around 825 diversified high-quality companies ranging from multinational pharmaceutical companies, public and private biotechnology companies, manufacturers of complex medicines and top-tier investment-grade companies and institutions as well as technology entities.
These tenants mainly rely on a central lab-based infrastructure to optimize their research capabilities and workflow, making it difficult for them to switch locations frequently. Notably, in the last 12 months, 80% of ARE’s leasing activity was generated from its existing client base.
As a result, the company is generally able to command high rents at its properties, aiding steady revenues over the long term. We estimate rental income to increase 9.5% on a year-over-year basis in 2023.
Alexandria’s acquisition, development and redevelopment of new Class A/A+ properties in AAA locations to enhance its operating platform bode well for long-term growth. Its pipeline of current and near-term projects is expected to generate annual incremental net operating income of $580 million through the third quarter of 2026, which is encouraging.
In addition, as part of the company’s capital-recycling efforts, it aims to achieve dispositions and sales of partial interests target of $1.65 billion in 2023 and is well on track.
The Zacks Rank #3 (Hold) company maintains a robust balance sheet position, supporting its growth endeavors. This has enabled it to capitalize on long-term growth opportunities. It exited the third quarter of 2023 with $6.9 billion of liquidity. It has no debt maturities prior to 2025 and its weighted-average remaining term was 13.1 years.
Moreover, in September and October 2023, ARE received reaffirmations on its credit ratings of Baa1/Stable and BBB+/Positive from Moody’s and S&P Global Ratings, respectively. This renders access to the debt market at favorable costs.
For 2023, expecting to benefit from the flourishing life-science market, the company revised its 2023 guidance for AFFO per share to $8.97-$8.99 from $8.93-$8.99 estimated earlier, representing a 2-cent increase at the midpoint to $8.98. The Zacks Consensus Estimate is pegged at $8.97, within expectations.
Nonetheless, Alexandria’s substantial active development and redevelopment pipeline, although encouraging for long-term growth, increases the risks related to cost overruns and lease-up concerns amid the current macroeconomic scenario and a high interest rate environment.
Further, with high interest rates in place, the company may find it difficult to purchase or develop real estate with borrowed funds as the costs are likely to be on the higher side.
Stocks to Consider
Some better-ranked stocks from the REIT sector are EastGroup Properties EGP, Stag Industrial STAG and Park Hotels & Resorts PK, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for EastGroup Properties’ 2023 FFO per share has moved marginally upward in the past month to $7.71.
The Zacks Consensus Estimate for Stag Industrial’s ongoing year’s FFO per share has been raised marginally over the past month to $2.28.
The Zacks Consensus Estimate for Park Hotels & Resorts’ current-year FFO per share has moved 3.1% northward over the past month to $1.98.
Note: Anything related to earnings presented in this write-up represents funds from operations (FFO) — a widely used metric to gauge the performance of REITs.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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
Alexandria Real Estate Equities, Inc. (ARE) : Free Stock Analysis Report
Stag Industrial, Inc. (STAG) : Free Stock Analysis Report
EastGroup Properties, Inc. (EGP) : Free Stock Analysis Report
Park Hotels & Resorts Inc. (PK) : 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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With artificial intelligence (AI) and machine learning (ML) tools being implemented in this industry, AI-focused life science companies require a significant lab footprint to generate the immense biological and chemical datasets needed to train AI-ML models effectively. Nonetheless, Alexandria’s substantial active development and redevelopment pipeline, although encouraging for long-term growth, increases the risks related to cost overruns and lease-up concerns amid the current macroeconomic scenario and a high interest rate environment. Further, with high interest rates in place, the company may find it difficult to purchase or develop real estate with borrowed funds as the costs are likely to be on the higher side.
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Stocks to Consider Some better-ranked stocks from the REIT sector are EastGroup Properties EGP, Stag Industrial STAG and Park Hotels & Resorts PK, each carrying a Zacks Rank #2 (Buy). The Zacks Consensus Estimate for EastGroup Properties’ 2023 FFO per share has moved marginally upward in the past month to $7.71. Click to get this free report Alexandria Real Estate Equities, Inc. (ARE) : Free Stock Analysis Report Stag Industrial, Inc. (STAG) : Free Stock Analysis Report EastGroup Properties, Inc. (EGP) : Free Stock Analysis Report Park Hotels & Resorts Inc. (PK) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Image Source: Zacks Investment Research Given the booming demand for life-science assets on the back of the increasing need for drug research and innovation, the company continues to witness healthy demand and maintain high occupancy levels. Alexandria enjoys a solid tenant base of around 825 diversified high-quality companies ranging from multinational pharmaceutical companies, public and private biotechnology companies, manufacturers of complex medicines and top-tier investment-grade companies and institutions as well as technology entities. Click to get this free report Alexandria Real Estate Equities, Inc. (ARE) : Free Stock Analysis Report Stag Industrial, Inc. (STAG) : Free Stock Analysis Report EastGroup Properties, Inc. (EGP) : Free Stock Analysis Report Park Hotels & Resorts Inc. (PK) : Free Stock Analysis Report To read this article on Zacks.com click here.
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It has no debt maturities prior to 2025 and its weighted-average remaining term was 13.1 years. Nonetheless, Alexandria’s substantial active development and redevelopment pipeline, although encouraging for long-term growth, increases the risks related to cost overruns and lease-up concerns amid the current macroeconomic scenario and a high interest rate environment. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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2023-12-01 00:00:00 UTC
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SentinelOne (S) to Report Q3 Earnings: What's in the Cards?
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https://www.nasdaq.com/articles/sentinelone-s-to-report-q3-earnings%3A-whats-in-the-cards-0
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SentinelOne S is set to release third-quarter fiscal 2024 results on Dec 5.
For the quarter, the company expects total revenues of $156 million. The Zacks Consensus Estimate for revenues is pegged at $156.15 million, suggesting growth of 35.4% from the figure reported in the year-ago quarter.
The consensus mark for loss remained at 8 cents per share in the past 30 days. SentinelOne reported a loss of 16 cents in the year-ago quarter.
The company beat the Zacks Consensus Estimate in the last four quarters, delivering an earnings surprise of 24.74% on average.
SentinelOne, Inc. Price and EPS Surprise
SentinelOne, Inc. price-eps-surprise | SentinelOne, Inc. Quote
Let’s see how things have shaped up for this announcement.
Factors to Watch
SentinelOne’s third-quarter performance is likely to have benefited from a scalable business model. It has been incorporating generative AI into its cybersecurity solutions, which is expected to have attracted new customers.
In the second quarter of fiscal 2024, SentinelOne added nearly 700 new customers. Its total customer base surpassed 11,000.
The Annual Recurring Revenues (ARR) increased 47% year over year to reach $612.2 million in the previous quarter. Customers with more than $10,000 of ARR increased 37% year over year.
The trends are expected to have continued in the to-be-reported quarter.
Key Q3 Developments
The company announced the expansion of its native threat intelligence capabilities with the launch of Singularity Threat Intelligence. The solution will provide security teams with complete insights that they can use to quickly combat rivals and minimize risk directly within the SentinelOne Singularity Platform.
The company also partnered with Alphabet GOOGL to integrate its Singularity Platform on Google Cloud Marketplace for easy accessibility of its cybersecurity platform.
Alphabet's cloud customers can buy and manage the full range of available technology and services and improve their cybersecurity strategies and business goals.
What Our Model Indicates
Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy), or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
SentinelOne has an Earnings ESP of 0.00% and a Zacks Rank #2. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are a couple of companies worth considering, as our model shows that these have the right combination of elements to beat on earnings this reporting cycle:
Science Applications International SAIC has an Earnings ESP of +3.01% and currently has a Zacks Rank of 2. You can find the complete list of today’s Zacks #1 Rank stocks here.
Science Applications International is set to announce fourth-quarter and fiscal 2023 results on Dec 4. Science Applications International’s shares are up 5.8% year to date.
Adobe ADBE has an Earnings ESP of +13.5% and carries a Zacks Rank of 2 at present.
Adobe is set to announce fourth-quarter and fiscal 2023 results on Dec 13. Adobe’s shares are up 81.5% year to date.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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
SentinelOne, Inc. (S) : Free Stock Analysis Report
Adobe Inc. (ADBE) : Free Stock Analysis Report
Science Applications International Corporation (SAIC) : Free Stock Analysis Report
Alphabet Inc. (GOOGL) : 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 solution will provide security teams with complete insights that they can use to quickly combat rivals and minimize risk directly within the SentinelOne Singularity Platform. Alphabet's cloud customers can buy and manage the full range of available technology and services and improve their cybersecurity strategies and business goals. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
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What Our Model Indicates Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy), or 3 (Hold) increases the odds of an earnings beat. Science Applications International is set to announce fourth-quarter and fiscal 2023 results on Dec 4. Click to get this free report SentinelOne, Inc. (S) : Free Stock Analysis Report Adobe Inc. (ADBE) : Free Stock Analysis Report Science Applications International Corporation (SAIC) : Free Stock Analysis Report Alphabet Inc. (GOOGL) : Free Stock Analysis Report To read this article on Zacks.com click here.
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What Our Model Indicates Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy), or 3 (Hold) increases the odds of an earnings beat. This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year. Click to get this free report SentinelOne, Inc. (S) : Free Stock Analysis Report Adobe Inc. (ADBE) : Free Stock Analysis Report Science Applications International Corporation (SAIC) : Free Stock Analysis Report Alphabet Inc. (GOOGL) : Free Stock Analysis Report To read this article on Zacks.com click here.
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The company beat the Zacks Consensus Estimate in the last four quarters, delivering an earnings surprise of 24.74% on average. In the second quarter of fiscal 2024, SentinelOne added nearly 700 new customers. Adobe’s shares are up 81.5% year to date.
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2023-12-01 00:00:00 UTC
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American Outdoor's (AOUT) Q2 Earnings & Sales Top Estimates
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https://www.nasdaq.com/articles/american-outdoors-aout-q2-earnings-sales-top-estimates
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American Outdoor Brands, Inc. AOUT reported second-quarter fiscal 2024 results, wherein both the top and bottom lines surpassed the Zacks Consensus Estimate. Both metrics beat estimates for the third straight quarter. Following the results, the company’s shares increased 9.9% in the after-hours trading session on Nov 30.
AOUT maintains its optimism, anticipating that its net sales for fiscal 2024 may surpass fiscal 2023 levels by up to 3.5%.
Earnings & Sales
In the quarter under review, American Outdoor reported adjusted earnings of 25 cents per share, beating the Zacks Consensus Estimate of 19 cents. However, the company’s earnings declined 13.8% year over year.
AOUT reported quarterly net sales of $57.9 million, beating the consensus estimate of $53 million. Moreover, the metric rose 6.4% year over year, primarily due to an increase in traditional channel and e-commerce net sales.
American Outdoor Brands, Inc. Price, Consensus and EPS Surprise
American Outdoor Brands, Inc. price-consensus-eps-surprise-chart | American Outdoor Brands, Inc. Quote
Other Financials
Total operating expenses were $26.5 million, up 1.6% year over year. Gross margin came in at 45.7%, down 200 basis points year over year.
Adjusted EBITDAS was $5.2 million compared with $6.4 million in the year-ago quarter.
Balance Sheet
As of Oct 31, 2023, cash and cash equivalents totaled $8.4 million compared with $22 million as of Apr 30, 2023.
Total current liabilities amounted to $34 million at the end of second-quarter fiscal 2024 compared with $23 million at the end of Apr 30, 2023.
Zacks Rank
The company currently has a Zacks Rank #3 (Hold).
Key Picks
Some better-ranked stocks in the Zacks Consumer Discretionary sector are:
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 77.6% 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 levels.
Live Nation Entertainment, Inc. LYV sports a Zacks Rank #1. It has a trailing four-quarter earnings surprise of 37.5% on average. Shares of LYV have increased 13.9% in the past year.
The Zacks Consensus Estimate for LYV’s 2023 sales and EPS suggests an improvement of 28.7% and 137.5%, respectively, from the prior-year levels.
Skechers U.S.A., Inc. SKX carries a Zacks Rank #2 (Buy). It has a trailing four-quarter earnings surprise of 50.3% on average. Shares of SKX have jumped 36.3% in the past year.
The Zacks Consensus Estimate for SKX’s 2023 sales and EPS implies a climb of 8.2% and 44.5%, respectively, from the year-earlier levels.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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
Live Nation Entertainment, Inc. (LYV) : Free Stock Analysis Report
American Outdoor Brands, Inc. (AOUT) : 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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American Outdoor Brands, Inc. AOUT reported second-quarter fiscal 2024 results, wherein both the top and bottom lines surpassed the Zacks Consensus Estimate. 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 levels. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
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Earnings & Sales In the quarter under review, American Outdoor reported adjusted earnings of 25 cents per share, beating the Zacks Consensus Estimate of 19 cents. American Outdoor Brands, Inc. Price, Consensus and EPS Surprise American Outdoor Brands, Inc. price-consensus-eps-surprise-chart | American Outdoor Brands, Inc. Quote Other Financials Total operating expenses were $26.5 million, up 1.6% year over year. 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 Live Nation Entertainment, Inc. (LYV) : Free Stock Analysis Report American Outdoor Brands, Inc. (AOUT) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Earnings & Sales In the quarter under review, American Outdoor reported adjusted earnings of 25 cents per share, beating the Zacks Consensus Estimate of 19 cents. American Outdoor Brands, Inc. Price, Consensus and EPS Surprise American Outdoor Brands, Inc. price-consensus-eps-surprise-chart | American Outdoor Brands, Inc. Quote Other Financials Total operating expenses were $26.5 million, up 1.6% year over year. 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 Live Nation Entertainment, Inc. (LYV) : Free Stock Analysis Report American Outdoor Brands, Inc. (AOUT) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Earnings & Sales In the quarter under review, American Outdoor reported adjusted earnings of 25 cents per share, beating the Zacks Consensus Estimate of 19 cents. However, the company’s earnings declined 13.8% year over year. AOUT reported quarterly net sales of $57.9 million, beating the consensus estimate of $53 million.
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2023-12-01 00:00:00 UTC
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American Woodmark (AMWD) Stock Up on Q2 Earnings, Sales Beat
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DCOMP
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https://www.nasdaq.com/articles/american-woodmark-amwd-stock-up-on-q2-earnings-sales-beat
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American Woodmark Corporation’s AMWD shares jumped 2.21% in the after-hours trading session on Nov 30, as it reported impressive second-quarter fiscal 2024 results.
Both earnings and net sales surpassed their respective Zacks Consensus Estimate and increased on a year-over-year basis. Strong operational performance and platform change moves are boosting the company’s results in dynamic market conditions.
Quarter in Details
American Woodmark reported adjusted earnings of $2.36 per share, which beat the consensus estimate of $1.84 by 28.3%. The bottom line also increased 5.4% from $2.24 reported a year ago.
American Woodmark Corporation Price, Consensus and EPS Surprise
American Woodmark Corporation price-consensus-eps-surprise-chart | American Woodmark Corporation Quote
Net sales of $473.9 million beat the consensus mark of $455 million by 4.1%. However, the figure declined 15.6% from the prior-year quarter’s level of $561.5 million.
Adjusted EBITDA increased 7% year over year to $72.3 million. Adjusted EBITDA margin expanded 330 basis points (bps) to 15.3% from the year-ago quarter's figure.
Financials
As of Oct 31, the company had $96.4 million of cash and cash equivalents compared with $41.7 million at fiscal 2023-end. It also had $323.2 million of availability under its revolving credit facility. Long-term debt was $370.9 million compared with $369.4 million at fiscal 2023-end.
Cash from operations for the first half totaled $143.7 million compared with $55.4 million in the prior-year period. Free cash amounted to $109.9 million compared with $44.4 million in the year-ago period.
The company repurchased 394,220 shares for $30 million during the second quarter of fiscal 2024. On Nov 29, AMWD’s board of directors authorized a stock repurchase program of up to $125 million of its outstanding common shares, replacing the previous authorization.
Fiscal 2024 Guidance
The company expects net sales to decline in low double-digit year over year. Also, it now projects adjusted EBITDA in the range of $235-$250 million compared with the previous guidance of $225-$245 million. In fiscal 2023, the company reported net sales of $2.07 billion and adjusted EBITDA of $240.4 million.
Zacks Rank & Recent Consumer Discretionary Releases
AMWD currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Leggett & Platt, Inc. LEG reported tepid third-quarter 2023 results, wherein both earnings and sales missed their respective Zacks Consensus Estimate.
The top and bottom lines declined on a year-over-year basis. The downtrend was caused by persistent weak demand in the Bedding Products and Furniture and Flooring & Textile Products segments, partially offset by strong demand in the Specialized Products segment.
Strategic Education, Inc. or SEI STRA reported impressive results for third-quarter 2023. Its quarterly earnings and revenues topped the respective Zacks Consensus Estimate and increased year over year.
Growth across its three segments, led by continued enrollment growth in U.S. Higher Education, driven significantly by employer-affiliated enrollment, strong growth in Education Technology Services (earlier known as Alternative Learning) and improving performance in Australia/New Zealand, drove the result.
Adtalem Global Education Inc. ATGE reported impressive results for first-quarter fiscal 2024. Earnings and revenues surpassed their respective Zacks Consensus Estimate and increased year over year, given solid enrollment growth and strategic initiatives.
The company's accelerated performance across five operational pillars highlights its market-leading scale and healthcare focus. ATGE also raised its fiscal 2024 guidance. With 80,000 students and 300,000 alumni, it is well-equipped to address critical healthcare provider shortages.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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
Strategic Education Inc. (STRA) : Free Stock Analysis Report
Leggett & Platt, Incorporated (LEG) : Free Stock Analysis Report
American Woodmark Corporation (AMWD) : Free Stock Analysis Report
Adtalem Global Education Inc. (ATGE) : 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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American Woodmark Corporation’s AMWD shares jumped 2.21% in the after-hours trading session on Nov 30, as it reported impressive second-quarter fiscal 2024 results. Strong operational performance and platform change moves are boosting the company’s results in dynamic market conditions. Leggett & Platt, Inc. LEG reported tepid third-quarter 2023 results, wherein both earnings and sales missed their respective Zacks Consensus Estimate.
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American Woodmark Corporation Price, Consensus and EPS Surprise American Woodmark Corporation price-consensus-eps-surprise-chart | American Woodmark Corporation Quote Net sales of $473.9 million beat the consensus mark of $455 million by 4.1%. Earnings and revenues surpassed their respective Zacks Consensus Estimate and increased year over year, given solid enrollment growth and strategic initiatives. Click to get this free report Strategic Education Inc. (STRA) : Free Stock Analysis Report Leggett & Platt, Incorporated (LEG) : Free Stock Analysis Report American Woodmark Corporation (AMWD) : Free Stock Analysis Report Adtalem Global Education Inc. (ATGE) : Free Stock Analysis Report To read this article on Zacks.com click here.
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American Woodmark Corporation Price, Consensus and EPS Surprise American Woodmark Corporation price-consensus-eps-surprise-chart | American Woodmark Corporation Quote Net sales of $473.9 million beat the consensus mark of $455 million by 4.1%. Its quarterly earnings and revenues topped the respective Zacks Consensus Estimate and increased year over year. Click to get this free report Strategic Education Inc. (STRA) : Free Stock Analysis Report Leggett & Platt, Incorporated (LEG) : Free Stock Analysis Report American Woodmark Corporation (AMWD) : Free Stock Analysis Report Adtalem Global Education Inc. (ATGE) : Free Stock Analysis Report To read this article on Zacks.com click here.
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The company repurchased 394,220 shares for $30 million during the second quarter of fiscal 2024. Fiscal 2024 Guidance The company expects net sales to decline in low double-digit year over year. This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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122db6ea-37c1-4555-8eb7-e0e4a3f2944e
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715282.0
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2023-12-01 00:00:00 UTC
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Validea's Top Consumer Staples Stocks Based On Martin Zweig - 12/1/2023
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DCOMP
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https://www.nasdaq.com/articles/valideas-top-consumer-staples-stocks-based-on-martin-zweig-12-1-2023
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The following are the top rated Consumer Staples stocks according to Validea's Growth Investor model based on the published strategy of Martin Zweig. This strategy looks for growth stocks with persistent accelerating earnings and sales growth, reasonable valuations and low debt.
LANCASTER COLONY CORP. (LANC) is a mid-cap growth stock in the Food Processing industry. The rating according to our strategy based on Martin Zweig is 77% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
Company Description: Lancaster Colony Corporation is a manufacturer and marketer of specialty food products for the retail and foodservice channels. The Company operates through two segments: Retail Segment and Foodservice Segment. Its Retail Segment manufactures and sells frozen breads, refrigerated dressings and dips, and shelf-stable dressings and croutons under the brand names New York BRAND Bakery, Marzetti, Marzetti Simply, Cardini's, Girard's and others. It also manufactures and sells other products pursuant to brand license agreements, including Chick-fil-A sauces and dressings, Olive Garden dressings and Buffalo Wild Wings sauces. Its Foodservice segment manufactures and sells salad dressings, sandwich and dipping sauces, frozen breads and yeast rolls. Its products are sold through sales personnel, food brokers and distributors in the United States. Its products are also sold under private label to restaurants. It also manufactures and sells various branded foodservice products to distributors.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
P/E RATIO: PASS
REVENUE GROWTH IN RELATION TO EPS GROWTH: PASS
SALES GROWTH RATE: PASS
CURRENT QUARTER EARNINGS: PASS
QUARTERLY EARNINGS ONE YEAR AGO: PASS
POSITIVE EARNINGS GROWTH RATE FOR CURRENT QUARTER: PASS
EARNINGS GROWTH RATE FOR THE PAST SEVERAL QUARTERS: FAIL
EPS GROWTH FOR CURRENT QUARTER MUST BE GREATER THAN PRIOR 3 QUARTERS: PASS
EPS GROWTH FOR CURRENT QUARTER MUST BE GREATER THAN THE HISTORICAL GROWTH RATE: PASS
EARNINGS PERSISTENCE: FAIL
LONG-TERM EPS GROWTH: FAIL
TOTAL DEBT/EQUITY RATIO: PASS
INSIDER TRANSACTIONS: PASS
Detailed Analysis of LANCASTER COLONY CORP.
LANC Guru Analysis
LANC Fundamental Analysis
DUCKHORN PORTFOLIO INC (NAPA) is a small-cap growth stock in the Beverages (Alcoholic) industry. The rating according to our strategy based on Martin Zweig is 77% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
Company Description: The Duckhorn Portfolio, Inc. is a producer of luxury wines in North America. The Company makes a curated and comprehensive portfolio of luxury wines across multiple varieties, appellations, brands and price points. It sells its wines in approximately 50 states and over 50 countries at prices ranging from $20 to $200 per bottle under a portfolio of winery brands, including Duckhorn Vineyards, Decoy, Goldeneye, Paraduxx, Migration, Canvasback, Calera, Kosta Browne, Greenwing and Postmark. It sells its wines on its wholesale channel, to distributors and directly to trade accounts in California, and to consumers on its direct-to-consumer (DTC) channel. The Company has approximately 10 wineries, nine winemaking facilities, seven tasting rooms and over 1,100 coveted acres of vineyards spanning 32 estate properties.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
P/E RATIO: PASS
REVENUE GROWTH IN RELATION TO EPS GROWTH: FAIL
SALES GROWTH RATE: PASS
CURRENT QUARTER EARNINGS: PASS
QUARTERLY EARNINGS ONE YEAR AGO: PASS
POSITIVE EARNINGS GROWTH RATE FOR CURRENT QUARTER: PASS
EARNINGS GROWTH RATE FOR THE PAST SEVERAL QUARTERS: FAIL
EPS GROWTH FOR CURRENT QUARTER MUST BE GREATER THAN PRIOR 3 QUARTERS: PASS
EPS GROWTH FOR CURRENT QUARTER MUST BE GREATER THAN THE HISTORICAL GROWTH RATE: PASS
EARNINGS PERSISTENCE: PASS
LONG-TERM EPS GROWTH: PASS
TOTAL DEBT/EQUITY RATIO: PASS
INSIDER TRANSACTIONS: PASS
Detailed Analysis of DUCKHORN PORTFOLIO INC
NAPA Guru Analysis
NAPA Fundamental Analysis
PROCTER & GAMBLE CO (PG) is a large-cap growth stock in the Personal & Household Prods. industry. The rating according to our strategy based on Martin Zweig is 69% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
Company Description: The Procter & Gamble Company is focused on providing branded consumer packaged goods to consumers across the world. The Company's segments include Beauty, Grooming, Health Care, Fabric & Home Care and Baby, Feminine & Family Care. The Company's products are sold in approximately 180 countries and territories primarily through mass merchandisers, e-commerce, including social commerce channels, grocery stores, membership club stores, drug stores, department stores, distributors, wholesalers, specialty beauty stores, including airport duty-free stores), high-frequency stores, pharmacies, electronics stores and professional channels. It also sells direct to individual consumers. It has operations in approximately 70 countries. It offers products under brands, such as Head & Shoulders, Herbal Essences, Pantene, Rejoice, Olay, Old Spice, Safeguard, Secret, SK-II, Braun, Gillette, Venus, Crest, Oral-B, Ariel, Downy, Gain, Tide, Always, Always Discreet, Tampax and others.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
P/E RATIO: PASS
REVENUE GROWTH IN RELATION TO EPS GROWTH: FAIL
SALES GROWTH RATE: PASS
CURRENT QUARTER EARNINGS: PASS
QUARTERLY EARNINGS ONE YEAR AGO: PASS
POSITIVE EARNINGS GROWTH RATE FOR CURRENT QUARTER: PASS
EARNINGS GROWTH RATE FOR THE PAST SEVERAL QUARTERS: FAIL
EPS GROWTH FOR CURRENT QUARTER MUST BE GREATER THAN PRIOR 3 QUARTERS: PASS
EPS GROWTH FOR CURRENT QUARTER MUST BE GREATER THAN THE HISTORICAL GROWTH RATE: FAIL
EARNINGS PERSISTENCE: PASS
LONG-TERM EPS GROWTH: PASS
TOTAL DEBT/EQUITY RATIO: PASS
INSIDER TRANSACTIONS: PASS
Detailed Analysis of PROCTER & GAMBLE CO
PG Guru Analysis
PG Fundamental Analysis
PEPSICO, INC. (PEP) is a large-cap growth stock in the Beverages (Non-Alcoholic) industry. The rating according to our strategy based on Martin Zweig is 62% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
Company Description: PepsiCo, Inc. is a beverage and convenient food company. The Company's segments include Frito-Lay North America, which includes its food businesses in the United States and Canada; Quaker Foods North America, which includes its food businesses, such as cereal, rice, pasta and other branded food, in the United States and Canada; PepsiCo Beverages North America, which includes its beverage businesses in the United States and Canada; Latin America, which includes its beverage and convenient food businesses in Latin America; Europe, which includes its beverage and convenient food businesses in Europe; Africa, Middle East and South Asia (AMESA), which includes all of its beverage and convenient food businesses in Africa, the Middle East and South Asia; and Asia Pacific, Australia and New Zealand and China Region (APAC), which includes all of its beverage and convenient food businesses in Asia Pacific, Australia and New Zealand, and China region. Its brands include Lays, Doritos and Cheetos.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
P/E RATIO: PASS
REVENUE GROWTH IN RELATION TO EPS GROWTH: PASS
SALES GROWTH RATE: FAIL
CURRENT QUARTER EARNINGS: PASS
QUARTERLY EARNINGS ONE YEAR AGO: PASS
POSITIVE EARNINGS GROWTH RATE FOR CURRENT QUARTER: PASS
EARNINGS GROWTH RATE FOR THE PAST SEVERAL QUARTERS: FAIL
EPS GROWTH FOR CURRENT QUARTER MUST BE GREATER THAN PRIOR 3 QUARTERS: PASS
EPS GROWTH FOR CURRENT QUARTER MUST BE GREATER THAN THE HISTORICAL GROWTH RATE: PASS
EARNINGS PERSISTENCE: FAIL
LONG-TERM EPS GROWTH: FAIL
TOTAL DEBT/EQUITY RATIO: FAIL
INSIDER TRANSACTIONS: PASS
Detailed Analysis of PEPSICO, INC.
PEP Guru Analysis
PEP Fundamental Analysis
J & J SNACK FOODS CORP (JJSF) is a mid-cap growth stock in the Food Processing industry. The rating according to our strategy based on Martin Zweig is 62% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
Company Description: J & J Snack Foods Corp. is a manufacturer of snack foods and distributes frozen beverages, which it markets nationally to the foodservice and retail supermarket industries. The Company operates through three business segments: Food Service, Retail Supermarkets and Frozen Beverages. The Food Service segment sells soft pretzels, frozen novelties, churros, handheld products and baked goods. The Retail Supermarkets segment sells soft pretzel products, including SUPERPRETZEL and AUNTIE ANNE'S, frozen novelties including LUIGI'S Real Italian Ice, MINUTE MAID Juice Bars and Soft Frozen Lemonade, WHOLE FRUIT frozen fruit bars and sorbet, DOGSTERS, PHILLY SWIRL cups and sticks, SOUR PATCH sticks, ICEE Squeeze-Up Tubes and handheld products. The Frozen Beverages segment sells frozen beverages and related products to the food service industry under the names ICEE, SLUSH PUPPIE and PARROT ICE in the United States, Mexico and Canada. It also provides repair and maintenance service to customers.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
P/E RATIO: PASS
REVENUE GROWTH IN RELATION TO EPS GROWTH: PASS
SALES GROWTH RATE: FAIL
CURRENT QUARTER EARNINGS: PASS
QUARTERLY EARNINGS ONE YEAR AGO: PASS
POSITIVE EARNINGS GROWTH RATE FOR CURRENT QUARTER: PASS
EARNINGS GROWTH RATE FOR THE PAST SEVERAL QUARTERS: FAIL
EPS GROWTH FOR CURRENT QUARTER MUST BE GREATER THAN PRIOR 3 QUARTERS: PASS
EPS GROWTH FOR CURRENT QUARTER MUST BE GREATER THAN THE HISTORICAL GROWTH RATE: PASS
EARNINGS PERSISTENCE: FAIL
LONG-TERM EPS GROWTH: FAIL
TOTAL DEBT/EQUITY RATIO: PASS
INSIDER TRANSACTIONS: PASS
Detailed Analysis of J & J SNACK FOODS CORP
JJSF Guru Analysis
JJSF Fundamental Analysis
Martin Zweig Portfolio
About Martin Zweig: During the 15 years that it was monitored, Zweig's stock recommendation newsletter returned an average of 15.9 percent per year, during which time it was ranked number one based on risk-adjusted returns by Hulbert Financial Digest. Zweig has managed both mutual and hedge funds during his career, and he's put the fortune he's compiled to some interesting uses. He has owned what Forbes reported was the most expensive apartment in New York, a $70 million penthouse that sits atop Manhattan's Pierre Hotel, and he is a collector of all sorts of pop culture and historical memorabilia -- among his purchases are the gun used by Clint Eastwood in "Dirty Harry", a stock certificate signed by Commodore Vanderbilt, and even two old-fashioned gas pumps similar to those he'd seen at a nearby gas station while growing up in Cleveland, according to published reports.
About Validea: Validea is aninvestment researchservice that follows the published strategies of investment legends. Validea offers both stock analysis and model portfolios based on gurus who have outperformed the market over the long-term, including Warren Buffett, Benjamin Graham, Peter Lynch and Martin Zweig. For more information about Validea, click here
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 sells its wines in approximately 50 states and over 50 countries at prices ranging from $20 to $200 per bottle under a portfolio of winery brands, including Duckhorn Vineyards, Decoy, Goldeneye, Paraduxx, Migration, Canvasback, Calera, Kosta Browne, Greenwing and Postmark. It offers products under brands, such as Head & Shoulders, Herbal Essences, Pantene, Rejoice, Olay, Old Spice, Safeguard, Secret, SK-II, Braun, Gillette, Venus, Crest, Oral-B, Ariel, Downy, Gain, Tide, Always, Always Discreet, Tampax and others. Validea offers both stock analysis and model portfolios based on gurus who have outperformed the market over the long-term, including Warren Buffett, Benjamin Graham, Peter Lynch and Martin Zweig.
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Detailed Analysis of DUCKHORN PORTFOLIO INC NAPA Guru Analysis NAPA Fundamental Analysis PROCTER & GAMBLE CO (PG) is a large-cap growth stock in the Personal & Household Prods. The Company's segments include Frito-Lay North America, which includes its food businesses in the United States and Canada; Quaker Foods North America, which includes its food businesses, such as cereal, rice, pasta and other branded food, in the United States and Canada; PepsiCo Beverages North America, which includes its beverage businesses in the United States and Canada; Latin America, which includes its beverage and convenient food businesses in Latin America; Europe, which includes its beverage and convenient food businesses in Europe; Africa, Middle East and South Asia (AMESA), which includes all of its beverage and convenient food businesses in Africa, the Middle East and South Asia; and Asia Pacific, Australia and New Zealand and China Region (APAC), which includes all of its beverage and convenient food businesses in Asia Pacific, Australia and New Zealand, and China region. Detailed Analysis of J & J SNACK FOODS CORP JJSF Guru Analysis JJSF Fundamental Analysis Martin Zweig Portfolio About Martin Zweig: During the 15 years that it was monitored, Zweig's stock recommendation newsletter returned an average of 15.9 percent per year, during which time it was ranked number one based on risk-adjusted returns by Hulbert Financial Digest.
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The Company's products are sold in approximately 180 countries and territories primarily through mass merchandisers, e-commerce, including social commerce channels, grocery stores, membership club stores, drug stores, department stores, distributors, wholesalers, specialty beauty stores, including airport duty-free stores), high-frequency stores, pharmacies, electronics stores and professional channels. The Company's segments include Frito-Lay North America, which includes its food businesses in the United States and Canada; Quaker Foods North America, which includes its food businesses, such as cereal, rice, pasta and other branded food, in the United States and Canada; PepsiCo Beverages North America, which includes its beverage businesses in the United States and Canada; Latin America, which includes its beverage and convenient food businesses in Latin America; Europe, which includes its beverage and convenient food businesses in Europe; Africa, Middle East and South Asia (AMESA), which includes all of its beverage and convenient food businesses in Africa, the Middle East and South Asia; and Asia Pacific, Australia and New Zealand and China Region (APAC), which includes all of its beverage and convenient food businesses in Asia Pacific, Australia and New Zealand, and China region. Detailed Analysis of J & J SNACK FOODS CORP JJSF Guru Analysis JJSF Fundamental Analysis Martin Zweig Portfolio About Martin Zweig: During the 15 years that it was monitored, Zweig's stock recommendation newsletter returned an average of 15.9 percent per year, during which time it was ranked number one based on risk-adjusted returns by Hulbert Financial Digest.
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The following are the top rated Consumer Staples stocks according to Validea's Growth Investor model based on the published strategy of Martin Zweig. It also manufactures and sells various branded foodservice products to distributors. The Company operates through three business segments: Food Service, Retail Supermarkets and Frozen Beverages.
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715283.0
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2023-12-01 00:00:00 UTC
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Best Momentum Stocks to Buy for December 1st
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https://www.nasdaq.com/articles/best-momentum-stocks-to-buy-for-december-1st-1
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Here are three stocks with buy rank and strong momentum characteristics for investors to consider today, December 1:
Centrus Energy Corp. LEU: This nuclear fuel and services provider has a Zacks Rank #1 and witnessed the Zacks Consensus Estimate for its current year earnings increasing 23.1% over the last 60 days.
Centrus Energy Corp. Price and Consensus
Centrus Energy Corp. price-consensus-chart | Centrus Energy Corp. Quote
Centrus Energy's shares gained 1.8% over the last three months compared with the S&P 500’s advance of 0.5%. The company possesses a Momentum Score of A.
Centrus Energy Corp. Price
Centrus Energy Corp. price | Centrus Energy Corp. Quote
Aquestive Therapeutics, Inc. AQST: This pharmaceutical company has a Zacks Rank #1 and witnessed the Zacks Consensus Estimate for its current year earnings increasing 72% over the last 60 days.
Aquestive Therapeutics, Inc. Price and Consensus
Aquestive Therapeutics, Inc. price-consensus-chart | Aquestive Therapeutics, Inc. Quote
Aquestive Therapeutics' shares gained 34.7% over the last three months compared with the S&P 500’s advance of 0.5%. The company possesses a Momentum Score of B.
Aquestive Therapeutics, Inc. Price
Aquestive Therapeutics, Inc. price | Aquestive Therapeutics, Inc. Quote
Toyota Motor Corporation TM: This automobile company has a Zacks Rank #1 and witnessed the Zacks Consensus Estimate for its current year earnings increasing 14.3% over the last 60 days.
Toyota Motor Corporation Price and Consensus
Toyota Motor Corporation price-consensus-chart | Toyota Motor Corporation Quote
Toyota's shares gained 9.9% over the last three months compared with the S&P 500’s advance of 0.5%. The company possesses a Momentum Score of B.
Toyota Motor Corporation Price
Toyota Motor Corporation price | Toyota Motor Corporation Quote
See the full list of top ranked stocks here
Learn more about the Momentum score and how it is calculated here.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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
Toyota Motor Corporation (TM) : Free Stock Analysis Report
Centrus Energy Corp. (LEU) : Free Stock Analysis Report
Aquestive Therapeutics, Inc. (AQST) : 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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Here are three stocks with buy rank and strong momentum characteristics for investors to consider today, December 1: Centrus Energy Corp. LEU: This nuclear fuel and services provider has a Zacks Rank #1 and witnessed the Zacks Consensus Estimate for its current year earnings increasing 23.1% over the last 60 days. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time. Free: See Our Top Stock and 4 Runners Up >> Want the latest recommendations from Zacks Investment Research?
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The company possesses a Momentum Score of A. Centrus Energy Corp. Price Centrus Energy Corp. price | Centrus Energy Corp. Quote Aquestive Therapeutics, Inc. AQST: This pharmaceutical company has a Zacks Rank #1 and witnessed the Zacks Consensus Estimate for its current year earnings increasing 72% over the last 60 days. The company possesses a Momentum Score of B. Aquestive Therapeutics, Inc. Price Aquestive Therapeutics, Inc. price | Aquestive Therapeutics, Inc. Quote Toyota Motor Corporation TM: This automobile company has a Zacks Rank #1 and witnessed the Zacks Consensus Estimate for its current year earnings increasing 14.3% over the last 60 days. Click to get this free report Toyota Motor Corporation (TM) : Free Stock Analysis Report Centrus Energy Corp. (LEU) : Free Stock Analysis Report Aquestive Therapeutics, Inc. (AQST) : Free Stock Analysis Report To read this article on Zacks.com click here.
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The company possesses a Momentum Score of A. Centrus Energy Corp. Price Centrus Energy Corp. price | Centrus Energy Corp. Quote Aquestive Therapeutics, Inc. AQST: This pharmaceutical company has a Zacks Rank #1 and witnessed the Zacks Consensus Estimate for its current year earnings increasing 72% over the last 60 days. The company possesses a Momentum Score of B. Aquestive Therapeutics, Inc. Price Aquestive Therapeutics, Inc. price | Aquestive Therapeutics, Inc. Quote Toyota Motor Corporation TM: This automobile company has a Zacks Rank #1 and witnessed the Zacks Consensus Estimate for its current year earnings increasing 14.3% over the last 60 days. Click to get this free report Toyota Motor Corporation (TM) : Free Stock Analysis Report Centrus Energy Corp. (LEU) : Free Stock Analysis Report Aquestive Therapeutics, Inc. (AQST) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Here are three stocks with buy rank and strong momentum characteristics for investors to consider today, December 1: Centrus Energy Corp. LEU: This nuclear fuel and services provider has a Zacks Rank #1 and witnessed the Zacks Consensus Estimate for its current year earnings increasing 23.1% over the last 60 days. The company possesses a Momentum Score of A. Centrus Energy Corp. Price Centrus Energy Corp. price | Centrus Energy Corp. Quote Aquestive Therapeutics, Inc. AQST: This pharmaceutical company has a Zacks Rank #1 and witnessed the Zacks Consensus Estimate for its current year earnings increasing 72% over the last 60 days. Click to get this free report Toyota Motor Corporation (TM) : Free Stock Analysis Report Centrus Energy Corp. (LEU) : Free Stock Analysis Report Aquestive Therapeutics, Inc. (AQST) : Free Stock Analysis Report To read this article on Zacks.com click here.
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2023-12-01 00:00:00 UTC
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Validea's Top Consumer Staples Stocks Based On Peter Lynch - 12/1/2023
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https://www.nasdaq.com/articles/valideas-top-consumer-staples-stocks-based-on-peter-lynch-12-1-2023
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The following are the top rated Consumer Staples stocks according to Validea's P/E/Growth Investor model based on the published strategy of Peter Lynch. This strategy looks for stocks trading at a reasonable price relative to earnings growth that also possess strong balance sheets.
CASEYS GENERAL STORES INC (CASY) is a large-cap growth stock in the Retail (Grocery) industry. The rating according to our strategy based on Peter Lynch is 87% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
Company Description: Casey's General Stores, Inc., through its subsidiaries, operates convenience stores under the names Casey's and Caseys General Store in 16 states, primarily in Iowa, Illinois, and Missouri. Its convenience stores carry a range of food items, including freshly prepared foods such as regular and breakfast pizza, donuts, hot breakfast items, and hot and cold sandwiches, beverages, tobacco and nicotine products, health and beauty aids, automotive products, and other non-food items. In addition, all but four offer fuel for sale on a self-service basis. Its GoodStop brand offers fuel for sale on a self-serve basis, and a range of selection of snacks, beverages, tobacco products, and other essentials. It also operates two stores selling primarily tobacco and nicotine products, one liquor-only store, and one grocery store. The Company operates approximately 2,521 stores. The Company operates three distribution centers. It has a fleet of approximately 397 tractors used for distribution.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
P/E/GROWTH RATIO: PASS
SALES AND P/E RATIO: PASS
EPS GROWTH RATE: PASS
TOTAL DEBT/EQUITY RATIO: PASS
FREE CASH FLOW: NEUTRAL
NET CASH POSITION: NEUTRAL
Detailed Analysis of CASEYS GENERAL STORES INC
CASY Guru Analysis
CASY Fundamental Analysis
SIMPLY GOOD FOODS CO (SMPL) is a mid-cap growth stock in the Biotechnology & Drugs industry. The rating according to our strategy based on Peter Lynch is 87% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
Company Description: The Simply Good Foods Company is a consumer-packaged food and beverage company. The product portfolio the Company develops, markets and sells consists primarily of protein bars, ready-to-drink (RTD) shakes, sweet and salty snacks, and confectionery products marketed under the Atkins, Atkins Endulge, Quest and Quest Hero brand names. The Company's nutritious snacking platform consists of brands that specialize in providing products for consumers that follow certain nutritional philosophies and health-and-wellness trends. Atkins brand specializes in providing products for consumers following a low-carb lifestyle or seeking to lose weight, and Quest brand for consumers seeking a variety of protein-rich foods and beverages that also limit sugars and simple carbs. The Company distributes its products in retail channels, primarily in North America, including grocery, club, and mass merchandise, as well as through e-commerce, convenience, specialty, and other channels.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
P/E/GROWTH RATIO: PASS
SALES AND P/E RATIO: PASS
INVENTORY TO SALES: PASS
EPS GROWTH RATE: PASS
TOTAL DEBT/EQUITY RATIO: PASS
FREE CASH FLOW: NEUTRAL
NET CASH POSITION: NEUTRAL
Detailed Analysis of SIMPLY GOOD FOODS CO
SMPL Guru Analysis
SMPL Fundamental Analysis
ANDERSONS INC (ANDE) is a small-cap growth stock in the Crops industry. The rating according to our strategy based on Peter Lynch is 74% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
Company Description: The Andersons, Inc. is a diversified company. The Company is engaged in the agricultural supply chain and conducts its business in the trade, renewables, and plant nutrient sectors. The Company operates through three segments: Trade, Renewables, and Plant Nutrient. The Trade segment is a diversified business focused on merchandising and managing logistics across a range of commodities. The segment specializes in the movement of physical commodities, such as whole grains, grain products, feed ingredients and domestic fuel products, among other agricultural commodities. The Renewables segment produces, purchases and sells ethanol and co-products, offers facility operations, and provides risk management and marketing services to the ethanol plants it invests in and operates. The Plant Nutrient segment is a manufacturer, distributor and retailer of agricultural and related plant nutrients, liquid industrial products, corncob-based products, pelleted lime and gypsum products.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
P/E/GROWTH RATIO: PASS
SALES AND P/E RATIO: PASS
INVENTORY TO SALES: PASS
EPS GROWTH RATE: FAIL
TOTAL DEBT/EQUITY RATIO: PASS
FREE CASH FLOW: NEUTRAL
NET CASH POSITION: NEUTRAL
Detailed Analysis of ANDERSONS INC
ANDE Guru Analysis
ANDE Fundamental Analysis
ALBERTSONS COMPANIES INC (ACI) is a large-cap value stock in the Retail (Grocery) industry. The rating according to our strategy based on Peter Lynch is 74% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
Company Description: Albertsons Companies, Inc. is a food and drug retailer in the United States. The Company is engaged in the operation of food and drug retail stores that offer grocery products, general merchandise, health and beauty care products, pharmacy, fuel and other items and services in its stores or through digital channels. The Company operates approximately 2,271 stores across 34 states and the District of Columbia under 24 banners including Albertsons, Safeway, Vons, Pavilions, Randalls, Tom Thumb, Carrs, Jewel-Osco, Acme, Shaw's, Star Market, Market Street, Haggen, Kings Food Markets and Balducci's Food Lovers Market. The Company operates approximately 1,722 pharmacies, 1,328 in-store branded coffee shops, 401 associated fuel centers, 22 dedicated distribution centers, 19 manufacturing facilities and various digital platforms. Its own brands include Signature SELECT, Open Nature, Signature Cafe, Lucerne, Waterfront BISTRO, Primo Taglio, Signature Care, Signature Reserve and Value Corner.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
P/E/GROWTH RATIO: PASS
SALES AND P/E RATIO: PASS
EPS GROWTH RATE: PASS
TOTAL DEBT/EQUITY RATIO: FAIL
FREE CASH FLOW: NEUTRAL
NET CASH POSITION: NEUTRAL
Detailed Analysis of ALBERTSONS COMPANIES INC
ACI Guru Analysis
ACI Fundamental Analysis
POST HOLDINGS INC (POST) is a mid-cap growth stock in the Food Processing industry. The rating according to our strategy based on Peter Lynch is 72% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
Company Description: Post Holdings, Inc. is a consumer-packaged goods holding company. The Company operates through four segments: Post Consumer Brands, Weetabix, Foodservice and Refrigerated Retail. Post Consumer Brands segment includes North American ready-to-eat (RTE) cereal and Peter Pan nut butter. Weetabix segment includes primarily the United Kingdom (the U.K.) RTE cereal, muesli and protein-based ready-to-drink shakes. The Foodservice segment sells primarily egg and potato products. The Refrigerated Retail segment primarily sells side dishes, egg, cheese and sausage products. The Company also operates a pet food business, which includes the brands, such as Rachael Ray, Nutrish, Nature's Recipe, 9Lives, Kibbles 'n Bits and Gravy Train. This business also includes private-label pet food assets and manufacturing and distribution facilities.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
P/E/GROWTH RATIO: PASS
SALES AND P/E RATIO: PASS
INVENTORY TO SALES: PASS
EPS GROWTH RATE: PASS
TOTAL DEBT/EQUITY RATIO: FAIL
FREE CASH FLOW: NEUTRAL
NET CASH POSITION: NEUTRAL
Detailed Analysis of POST HOLDINGS INC
POST Guru Analysis
POST Fundamental Analysis
Peter Lynch Portfolio
Top Peter Lynch Stocks
About Peter Lynch: Perhaps the greatest mutual fund manager of all-time, Lynch guided Fidelity Investment's Magellan Fund to a 29.2 percent average annual return from 1977 until his retirement in 1990, almost doubling the S&P 500's 15.8 percent yearly return over that time. Lynch's common sense approach and quick wit made him one of the most quoted investors on Wall Street. ("Go for a business that any idiot can run -- because sooner or later, any idiot probably is going to run it," is one of his many pearls of wisdom.) Lynch's bestseller One Up on Wall Street is something of a "stocks for the everyman/everywoman", breaking his approach down into easy-to-understand concepts.
About Validea: Validea is aninvestment researchservice that follows the published strategies of investment legends. Validea offers both stock analysis and model portfolios based on gurus who have outperformed the market over the long-term, including Warren Buffett, Benjamin Graham, Peter Lynch and Martin Zweig. For more information about Validea, click here
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 nutritious snacking platform consists of brands that specialize in providing products for consumers that follow certain nutritional philosophies and health-and-wellness trends. Post Consumer Brands segment includes North American ready-to-eat (RTE) cereal and Peter Pan nut butter. The Company also operates a pet food business, which includes the brands, such as Rachael Ray, Nutrish, Nature's Recipe, 9Lives, Kibbles 'n Bits and Gravy Train.
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Its convenience stores carry a range of food items, including freshly prepared foods such as regular and breakfast pizza, donuts, hot breakfast items, and hot and cold sandwiches, beverages, tobacco and nicotine products, health and beauty aids, automotive products, and other non-food items. The Company is engaged in the operation of food and drug retail stores that offer grocery products, general merchandise, health and beauty care products, pharmacy, fuel and other items and services in its stores or through digital channels. Detailed Analysis of POST HOLDINGS INC POST Guru Analysis POST Fundamental Analysis Peter Lynch Portfolio Top Peter Lynch Stocks About Peter Lynch: Perhaps the greatest mutual fund manager of all-time, Lynch guided Fidelity Investment's Magellan Fund to a 29.2 percent average annual return from 1977 until his retirement in 1990, almost doubling the S&P 500's 15.8 percent yearly return over that time.
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The Company is engaged in the operation of food and drug retail stores that offer grocery products, general merchandise, health and beauty care products, pharmacy, fuel and other items and services in its stores or through digital channels. Detailed Analysis of ALBERTSONS COMPANIES INC ACI Guru Analysis ACI Fundamental Analysis POST HOLDINGS INC (POST) is a mid-cap growth stock in the Food Processing industry. Detailed Analysis of POST HOLDINGS INC POST Guru Analysis POST Fundamental Analysis Peter Lynch Portfolio Top Peter Lynch Stocks About Peter Lynch: Perhaps the greatest mutual fund manager of all-time, Lynch guided Fidelity Investment's Magellan Fund to a 29.2 percent average annual return from 1977 until his retirement in 1990, almost doubling the S&P 500's 15.8 percent yearly return over that time.
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The Company is engaged in the operation of food and drug retail stores that offer grocery products, general merchandise, health and beauty care products, pharmacy, fuel and other items and services in its stores or through digital channels. The Company operates through four segments: Post Consumer Brands, Weetabix, Foodservice and Refrigerated Retail. Detailed Analysis of POST HOLDINGS INC POST Guru Analysis POST Fundamental Analysis Peter Lynch Portfolio Top Peter Lynch Stocks About Peter Lynch: Perhaps the greatest mutual fund manager of all-time, Lynch guided Fidelity Investment's Magellan Fund to a 29.2 percent average annual return from 1977 until his retirement in 1990, almost doubling the S&P 500's 15.8 percent yearly return over that time.
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2023-12-01 00:00:00 UTC
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2 Stocks Down 53% and 71% to Buy Right Now
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https://www.nasdaq.com/articles/2-stocks-down-53-and-71-to-buy-right-now
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While the S&P 500 has climbed by about 19% so far in 2023, a lot of that has been driven by the gains of a relatively small number of massive tech companies with exposure to artificial intelligence (AI) trends. The stellar performances of companies including Nvidia, Apple, Amazon, Alphabet, and Meta Platforms have lifted the broad market index.
But there are still quality stocks that have sat out the rally or even lost ground across this year's trading. If you're looking for beaten-down buying opportunities in today's market, these two stocks now trade at big discounts from their highs, and have the potential to deliver fantastic returns.
Roblox is back to posting impressive growth
Keith Noonan: Roblox (NYSE: RBLX) is an online gaming service that was launched in 2006. Rather than being a single game, Roblox is actually a platform that houses thousands of unique play and social experiences. Users can create and monetize their own content on the platform, and this dynamic has paved the way for a steady stream of new games, experiences, and content updates for players.
In other words, Roblox is an early leader in the metaverse space, and has built a thriving content ecosystem that enjoyed impressive user-engagement growth.
The company went public in March 2021, and its stock price peaked at nearly $135 per share in November of that year amid a favorable market backdrop for growth-oriented stocks and engagement tailwinds stemming from the pandemic and social-distancing efforts.
But in 2022, the market pivoted away from high-risk growth stocks as the Federal Reserve shifted to a rapid interest-rate-hiking policy to combat inflation, and Roblox also saw its growth momentum sputter as the world emerged from the worst of the pandemic and moved closer to a state of normalcy. But the business has bounced back from periods of uneven performance, and it's once again delivering encouraging growth.
In 2023's third quarter, Roblox's revenue grew 38% year over year to $713.2 million. Meanwhile, net cash from operating activities jumped 68% year over year to $112.7 million. The company also averaged 70.2 million daily active users during the period -- up 20% year over year to a new record for the platform.
With its share price down 71% from its peak, Roblox stock looks like a worthwhile buy right now for risk-tolerant investors. There's undoubtedly some speculation involved in charting the company's trajectory, but the business has already demonstrated impressive staying power and scalability -- and it still has massive long-term growth potential.
The House of Mouse is on the road to recovery
Parkev Tatevosian: Walt Disney (NYSE: DIS) was devastated by the coronavirus pandemic, so it's understandable that its stock price is down 53% from its high-water mark. However, that sell-off allows long-term investors to get in at lower valuations while consumers unleash pent-up demand for away-from-home activities. That trend has boosted Disney's theme park segment, which has fueled a recovery of the business overall.
In its fiscal 2023, which ended Sept. 30, Disney's revenue jumped 7.5% to $89 billion. Perhaps more impressively, its operating income increased from $6.8 billion in fiscal 2022 to $9 billion in 2023. Of course, Disney's troubles are not all behind it. The company is still grappling with changing consumer preferences that are hurting its linear TV business.
That said, Disney does own several popular streaming services, including Disney+, Hulu, and ESPN+, that are attracting customers who are cutting the cord on cable in favor of streaming.
Admittedly, its transition toward a more streaming-heavy business might constrain profits in the near term as customers move from the more profitable consumption model to the newly developing streaming segment. The good news in the longer term is that with the added convenience of streaming, consumption of content will increase as folks can now watch almost anywhere.
DIS PE Ratio (Forward 1y) data by YCharts.
Although the stock's declines reflect Disney's near-term troubles, I think the sell-off has been overdone. Disney trades at a forward price-to-earnings ratio of under 18, which I think is a fair price for this excellent company.
10 stocks we like better than Roblox
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 Roblox 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 November 27, 2023
Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool's board of directors. Keith Noonan has positions in Walt Disney. Parkev Tatevosian, CFA has positions in Alphabet, Apple, and Walt Disney. The Motley Fool has positions in and recommends Alphabet, Amazon, Apple, Meta Platforms, Nvidia, Roblox, and Walt Disney. 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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While the S&P 500 has climbed by about 19% so far in 2023, a lot of that has been driven by the gains of a relatively small number of massive tech companies with exposure to artificial intelligence (AI) trends. There's undoubtedly some speculation involved in charting the company's trajectory, but the business has already demonstrated impressive staying power and scalability -- and it still has massive long-term growth potential. The House of Mouse is on the road to recovery Parkev Tatevosian: Walt Disney (NYSE: DIS) was devastated by the coronavirus pandemic, so it's understandable that its stock price is down 53% from its high-water mark.
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The stellar performances of companies including Nvidia, Apple, Amazon, Alphabet, and Meta Platforms have lifted the broad market index. The House of Mouse is on the road to recovery Parkev Tatevosian: Walt Disney (NYSE: DIS) was devastated by the coronavirus pandemic, so it's understandable that its stock price is down 53% from its high-water mark. The Motley Fool has positions in and recommends Alphabet, Amazon, Apple, Meta Platforms, Nvidia, Roblox, and Walt Disney.
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The company went public in March 2021, and its stock price peaked at nearly $135 per share in November of that year amid a favorable market backdrop for growth-oriented stocks and engagement tailwinds stemming from the pandemic and social-distancing efforts. See the 10 stocks *Stock Advisor returns as of November 27, 2023 Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. The Motley Fool has positions in and recommends Alphabet, Amazon, Apple, Meta Platforms, Nvidia, Roblox, and Walt Disney.
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Roblox is back to posting impressive growth Keith Noonan: Roblox (NYSE: RBLX) is an online gaming service that was launched in 2006. Admittedly, its transition toward a more streaming-heavy business might constrain profits in the near term as customers move from the more profitable consumption model to the newly developing streaming segment. See the 10 stocks *Stock Advisor returns as of November 27, 2023 Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors.
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2023-12-01 00:00:00 UTC
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Pre-Markets in the Red to Start December
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https://www.nasdaq.com/articles/pre-markets-in-the-red-to-start-december
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We enter this Friday morning with pre-market futures down slightly, and with no new majorly impactful data releases to affect investment trajectories ahead of the bell. That’s OK; we’ve had an eventful week — from housing data to PCE to Q3 earnings from important companies like Salesforce (CRM) — so perhaps this is a good opportunity to review now that the smoke has cleared. Currently, the Dow is -8 points, the S&P 500 is -7, the Nasdaq -39 points and the small-cap Russell 2000 -2.
Only the Nasdaq is down over the past week of trading, with the blue-chip Dow leading the way, +1.9%. The past month of trading has been extraordinary, with the S&P +7.4%, both the Dow and Russell +7.9% and the Nasdaq +8.1%. This has helped all major indices improve trading year to date, with one month to go in the year: the Russell +2.8%, the Dow +8.2%, the S&P +18.8% and the Nasdaq up a stellar +45.7%, as 2023 has become the year of A.I. speculation.
We’re also seeing meaningful improvements on inflation metrics. This week alone, we’ve seen both new and pending home sales dip lower (Case-Shiller home prices were flat), PCE was flat on headline but lower on year-over-year core, trade balance sank lower but Chicago PMI was surprisingly strong. Initial Jobless Claims were up slightly but Continuing Claims were up big — headed toward 2 million in the next week or two, if trends hold.
Overall, market participants have clearly been encouraged: inflation is at last coming under control, though gradually — the better the escape a recession with. Consumer sentiment is up, so that portends a healthy holiday shopping season. The Fed won’t be raising rates again this cycle, and now the watch is on for when the monetary policy body might start cutting (hint: not too soon). In short, we’re set to close calendar 2023 as a nice rebound to a rather dismal 2022, especially on the Nasdaq/tech side.
After today’s open, we’ll see new Manufacturing data from S&P PMI and ISM, both for November, and both expected to improve month over month. Construction Spending for October is expected to tick down, and we’ll be hearing from Fed Chair Jay Powell and Chicago Fed President Austan Goolsbee today, among others. Auto Sales numbers will be filing in throughout the day, as well.
None of this is expected to dramatically alter current market conditions, and we might expect Friday (lower) volumes of trading. Next week brings us monthly jobs numbers, and they will tell the tale of the cooling economy. Bond yields currently sit at 4.685% on the 2-year and 4.318% on 10s. Happy Friday!
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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
Salesforce Inc. (CRM) : 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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We enter this Friday morning with pre-market futures down slightly, and with no new majorly impactful data releases to affect investment trajectories ahead of the bell. That’s OK; we’ve had an eventful week — from housing data to PCE to Q3 earnings from important companies like Salesforce (CRM) — so perhaps this is a good opportunity to review now that the smoke has cleared. The Fed won’t be raising rates again this cycle, and now the watch is on for when the monetary policy body might start cutting (hint: not too soon).
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This week alone, we’ve seen both new and pending home sales dip lower (Case-Shiller home prices were flat), PCE was flat on headline but lower on year-over-year core, trade balance sank lower but Chicago PMI was surprisingly strong. Click to get this free report Salesforce Inc. (CRM) : 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 has helped all major indices improve trading year to date, with one month to go in the year: the Russell +2.8%, the Dow +8.2%, the S&P +18.8% and the Nasdaq up a stellar +45.7%, as 2023 has become the year of A.I. This week alone, we’ve seen both new and pending home sales dip lower (Case-Shiller home prices were flat), PCE was flat on headline but lower on year-over-year core, trade balance sank lower but Chicago PMI was surprisingly strong. This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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This has helped all major indices improve trading year to date, with one month to go in the year: the Russell +2.8%, the Dow +8.2%, the S&P +18.8% and the Nasdaq up a stellar +45.7%, as 2023 has become the year of A.I. After today’s open, we’ll see new Manufacturing data from S&P PMI and ISM, both for November, and both expected to improve month over month. Free: See Our Top Stock and 4 Runners Up >> Want the latest recommendations from Zacks Investment Research?
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715287.0
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2023-12-01 00:00:00 UTC
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Norwegian Cruise Line (NCLH) Up 16.8% Since Last Earnings Report: Can It Continue?
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DCOMP
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https://www.nasdaq.com/articles/norwegian-cruise-line-nclh-up-16.8-since-last-earnings-report%3A-can-it-continue
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A month has gone by since the last earnings report for Norwegian Cruise Line (NCLH). Shares have added about 16.8% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Norwegian Cruise Line 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.
Norwegian Cruise’s Q3 Earnings Top Estimates, Rise Y/Y
Norwegian Cruise reported mixed third-quarter 2023 results, with earnings beating the Zacks Consensus Estimate and revenues missing the same. The top and the bottom line increased on a year-over-year basis. The upside was primarily driven by strong demand from target upmarket consumers and ongoing margin enhancement initiatives.
The company cautiously monitors short-term expectations amidst global economic and geopolitical shifts. Despite this, NCLH remains optimistic due to its strong forward bookings and robust pricing to sustain this positive momentum through the end of 2023.
Earnings & Revenue Discussion
Norwegian Cruise reported adjusted earnings per share of 76 cents, beating the Zacks Consensus Estimate of adjusted earnings of 69 cents per share by 10.1%. In the prior-year quarter, the company reported an adjusted loss per share of 64 cents. The upside was backed by solid revenue performance and continued focus on cost reduction.
Quarterly revenues of $2,536 million missed the consensus mark of $2,543 million. In the prior-year quarter, the company reported revenues of $1,615.5 million. The upside can be attributed to solid occupancy and pricing growth.
In the quarter under review, passenger ticket revenues were $1,733.6 million compared with $1,105.9 million reported in the prior-year quarter. Our model suggested passenger ticket revenues to be $1,767.3 million. Onboard and other revenues increased to $802.4 million from $509.6 million reported in the prior-year quarter. We expected onboard and other revenues to be $756.4 million.
Expenses & Operating Results
Total cruise operating expenses increased 19.7% in the quarter under review from the year-ago quarter’s levels. The company’s expenses in the quarter primarily stemmed from the resumption of cruise voyages and inflationary pressures. The company reported a rise in payroll, fuel and direct variable costs of fully-operating ships.
During the third quarter, gross cruise costs dropped 0.3% (from 2019 levels) to $1,808.1 million. Adjusted net cruise costs (excluding fuel) amounted to $878.4 million compared with $882.2 million in the third quarter of 2019. Fuel price per metric ton (net of hedges) fell to $727 from $830 in 2022.
Net interest expenses in the quarter were $181.2 million compared with $152.3 million reported in the year-ago quarter.
Balance Sheet
Cash and cash equivalents as of Sep 30, 2023, were $681.6 million compared with $947 million at the end of Dec 31, 2022. Long-term debt came in at $12.6 billion, in line with 2022-end.
Booking Update
During the third quarter, the company faced operational challenges due to global events like the Maui wildfires and the Israel conflict. However, demand has improved in recent weeks and is now approaching normalized levels.
Also, it reported strength in advance ticket sales. As of Sep 30, 2023, the company’s advance ticket sales balance, including the long-term portion, came in at $2.97 billion, up 59% from 2019 levels. The company stated pricing levels to be elevated.
2023 Guidance
For the fourth quarter of 2023, the company anticipates occupancy to be approximately 98% and Capacity Days to be about 5.9 million. During the quarter, adjusted interest expense is expected at approximately $200 million, while depreciation and amortization are anticipated at approximately $215 million. Adjusted EBITDA is expected at nearly $360 million. For the fourth quarter, adjusted loss per share is projected to be nearly 15 cents.
For 2023, the company now anticipates occupancy to be approximately 102.6% compared with the prior projection of 103.5% and Capacity Days to be about 22.7 million. During the year, adjusted interest expenses are expected at approximately $730 million compared with the prior projection of $720 million. Depreciation and amortization are anticipated at nearly $810 million compared with the prior projection of $815 million. Adjusted EBITDA during the year is expected at nearly $1.86 billion. For 2023, adjusted EPS is projected to be nearly 73 cents compared with the prior projection of 80 cents.
How Have Estimates Been Moving Since Then?
In the past month, investors have witnessed a downward trend in estimates revision.
The consensus estimate has shifted -700% due to these changes.
VGM Scores
Currently, Norwegian Cruise Line 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 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 indicates a downward shift. Notably, Norwegian Cruise Line 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
Norwegian Cruise Line is part of the Zacks Leisure and Recreation Services industry. Over the past month, Caesars Entertainment (CZR), a stock from the same industry, has gained 10.1%. The company reported its results for the quarter ended September 2023 more than a month ago.
Caesars Entertainment reported revenues of $2.99 billion in the last reported quarter, representing a year-over-year change of +3.7%. EPS of $0.34 for the same period compares with $0.24 a year ago.
For the current quarter, Caesars Entertainment is expected to post earnings of $0.22 per share, indicating a change of +300% from the year-ago quarter. The Zacks Consensus Estimate has changed -33.9% over the last 30 days.
Caesars Entertainment 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 Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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
Norwegian Cruise Line Holdings Ltd. (NCLH) : Free Stock Analysis Report
Caesars Entertainment, Inc. (CZR) : 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. Despite this, NCLH remains optimistic due to its strong forward bookings and robust pricing to sustain this positive momentum through the end of 2023. Booking Update During the third quarter, the company faced operational challenges due to global events like the Maui wildfires and the Israel conflict.
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Norwegian Cruise’s Q3 Earnings Top Estimates, Rise Y/Y Norwegian Cruise reported mixed third-quarter 2023 results, with earnings beating the Zacks Consensus Estimate and revenues missing the same. Earnings & Revenue Discussion Norwegian Cruise reported adjusted earnings per share of 76 cents, beating the Zacks Consensus Estimate of adjusted earnings of 69 cents per share by 10.1%. Click to get this free report Norwegian Cruise Line Holdings Ltd. (NCLH) : Free Stock Analysis Report Caesars Entertainment, Inc. (CZR) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Norwegian Cruise’s Q3 Earnings Top Estimates, Rise Y/Y Norwegian Cruise reported mixed third-quarter 2023 results, with earnings beating the Zacks Consensus Estimate and revenues missing the same. Earnings & Revenue Discussion Norwegian Cruise reported adjusted earnings per share of 76 cents, beating the Zacks Consensus Estimate of adjusted earnings of 69 cents per share by 10.1%. In the quarter under review, passenger ticket revenues were $1,733.6 million compared with $1,105.9 million reported in the prior-year quarter.
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A month has gone by since the last earnings report for Norwegian Cruise Line (NCLH). Net interest expenses in the quarter were $181.2 million compared with $152.3 million reported in the year-ago quarter. During the year, adjusted interest expenses are expected at approximately $730 million compared with the prior projection of $720 million.
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31e9e4e9-e292-4d69-8bc6-7e7c6fec434c
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715288.0
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2023-12-01 00:00:00 UTC
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Carrier Global (CARR) is a Top-Ranked Momentum Stock: Should You Buy?
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DCOMP
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https://www.nasdaq.com/articles/carrier-global-carr-is-a-top-ranked-momentum-stock%3A-should-you-buy
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nan
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nan
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Taking full advantage of the stock market and investing with confidence are common goals for new and old investors, and Zacks Premium offers many different ways to do both.
The popular research service can help you become a smarter, more self-assured investor, giving you access to daily updates of the Zacks Rank and Zacks Industry Rank, the Zacks #1 Rank List, Equity Research reports, and Premium stock screens.
It also includes access to the Zacks Style Scores.
What are the Zacks Style Scores?
The Zacks Style Scores, developed alongside the Zacks Rank, are complementary indicators that rate stocks based on three widely-followed investing methodologies; they also help investors pick stocks with the best chances of beating the market over the next 30 days.
Each stock is given an alphabetic rating of A, B, C, D or F based on their value, growth, and momentum qualities. With this system, an A is better than a B, a B is better than a C, and so on, meaning the better the score, the better chance the stock will outperform.
The Style Scores are broken down into four categories:
Value Score
Value investors love finding good stocks at good prices, especially before the broader market catches on to a stock's true value. Utilizing ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and many other multiples, the Value Style Score identifies the most attractive and most discounted stocks.
Growth Score
Growth investors, on the other hand, are more concerned with a company's financial strength and health, and its future outlook. The Growth Style Score examines things like projected and historic earnings, sales, and cash flow to find stocks that will experience sustainable growth over time.
Momentum Score
Momentum investors, who live by the saying "the trend is your friend," are most interested in taking advantage of upward or downward trends in a stock's price or earnings outlook. Utilizing one-week price change and the monthly percentage change in earnings estimates, among other factors, the Momentum Style Score can help determine favorable times to buy high-momentum stocks.
VGM Score
If you want a combination of all three Style Scores, then the VGM Score will be your friend. It rates each stock on their combined weighted styles, helping you find the companies with the most attractive value, best growth forecast, and most promising momentum. It's also one of the best indicators to use with the Zacks Rank.
How Style Scores Work with the Zacks Rank
A proprietary stock-rating model, the Zacks Rank utilizes the power of earnings estimate revisions, or changes to a company's earnings outlook, to help investors create a successful portfolio.
It's highly successful, with #1 (Strong Buy) stocks producing an unmatched +25.41% average annual return since 1988. That's more than double the S&P 500. But because of the large number of stocks we rate, there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.
This totals more than 800 top-rated stocks, and it can be overwhelming to try and pick the best stocks for you and your portfolio.
That's where the Style Scores come in.
You want to make sure you're buying stocks with the highest likelihood of success, and to do that, you'll need to pick stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you like a stock that only as a #3 (Hold) rank, it should also have Scores of A or B to guarantee as much upside potential as possible.
As mentioned above, the Scores are designed to work with the Zacks Rank, so any change to a company's earnings outlook should be a deciding factor when picking which stocks to buy.
Here's an example: a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one with Style Scores of A and B, still has a downward-trending earnings outlook, and a bigger chance its share price will decrease too.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: Carrier Global (CARR)
Palm Beach Gardens, FL-based Carrier Global is a provider of advanced heating, ventilation, refrigeration, air conditioning, fire, security and building automation technologies. The company completed its Initial Public Offering (“IPO”) in April 2020.
CARR is a #3 (Hold) on the Zacks Rank, with a VGM Score of A.
Momentum investors should take note of this Computer and Technology stock. CARR has a Momentum Style Score of B, and shares are up 4% over the past four weeks.
Eight analysts revised their earnings estimate upwards in the last 60 days for fiscal 2023. The Zacks Consensus Estimate has increased $0.09 to $2.72 per share. CARR boasts an average earnings surprise of 6%.
With a solid Zacks Rank and top-tier Momentum and VGM Style Scores, CARR should be on investors' short list.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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
Carrier Global Corporation (CARR) : 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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Taking full advantage of the stock market and investing with confidence are common goals for new and old investors, and Zacks Premium offers many different ways to do both. It rates each stock on their combined weighted styles, helping you find the companies with the most attractive value, best growth forecast, and most promising momentum. As mentioned above, the Scores are designed to work with the Zacks Rank, so any change to a company's earnings outlook should be a deciding factor when picking which stocks to buy.
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The popular research service can help you become a smarter, more self-assured investor, giving you access to daily updates of the Zacks Rank and Zacks Industry Rank, the Zacks #1 Rank List, Equity Research reports, and Premium stock screens. Utilizing one-week price change and the monthly percentage change in earnings estimates, among other factors, the Momentum Style Score can help determine favorable times to buy high-momentum stocks. How Style Scores Work with the Zacks Rank A proprietary stock-rating model, the Zacks Rank utilizes the power of earnings estimate revisions, or changes to a company's earnings outlook, to help investors create a successful portfolio.
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The popular research service can help you become a smarter, more self-assured investor, giving you access to daily updates of the Zacks Rank and Zacks Industry Rank, the Zacks #1 Rank List, Equity Research reports, and Premium stock screens. The Zacks Style Scores, developed alongside the Zacks Rank, are complementary indicators that rate stocks based on three widely-followed investing methodologies; they also help investors pick stocks with the best chances of beating the market over the next 30 days. How Style Scores Work with the Zacks Rank A proprietary stock-rating model, the Zacks Rank utilizes the power of earnings estimate revisions, or changes to a company's earnings outlook, to help investors create a successful portfolio.
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What are the Zacks Style Scores? How Style Scores Work with the Zacks Rank A proprietary stock-rating model, the Zacks Rank utilizes the power of earnings estimate revisions, or changes to a company's earnings outlook, to help investors create a successful portfolio. That's where the Style Scores come in.
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ffaac1e3-494c-4873-a19a-42fc82d0ce63
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715289.0
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2023-12-01 00:00:00 UTC
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NXP Semiconductors (NXPI) Boosts UWB Portfolio With New Devices
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DCOMP
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https://www.nasdaq.com/articles/nxp-semiconductors-nxpi-boosts-uwb-portfolio-with-new-devices
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nan
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NXP Semiconductors N.V. NXPI is enhancing its Ultra-Wideband (UWB) portfolio on the back of its latest launch.
Notably, the company rolled out Trimension NCJ29D6, a fully integrated automotive UWB family that integrates real-time localization with short-range radar, enabling secure car access, child presence detection, intrusion alert and gesture recognition.
Further, NXP Semiconductors unveiled the UWB device, NCJ29D6B, which enhances secure car access via a digital key on a UWB-enabled mobile phone, offering design flexibility, future-proofing, higher radio frequency sensitivity and larger memory size.
Additionally, the company launched NCJ29D6A, a pin-to-pin compatible automotive device, which integrates short-range UWB radar and location features in a single chip, allowing original equipment manufacturers to transform a single UWB-based system into a multi-purpose platform.
NXP Semiconductors is expected to gain solid traction across automotive applications on the back of its latest move.
NXP Semiconductors N.V. Price and Consensus
NXP Semiconductors N.V. price-consensus-chart | NXP Semiconductors N.V. Quote
Growth Prospects
The launch of the UWB devices is in sync with the company’s focus to strengthen its position in the global Ultra-Wideband market.
Per a Mordor Intelligence report, the Ultra-Wideband market is expected to reach $3.45 billion by 2028, witnessing a CAGR of 17.4% between 2023 and 2028.
Per a Zion Market Research report, the global UWB market will reach $6.33 billion by 2030, exhibiting a CAGR of 19.9% during 2023-2030.
Growth prospects in the promising UWB market will likely raise investors’ optimism in the stock.
Notably, NXPI shares have risen 29.1% year to date compared with the industry’s growth of 18.3%.
Growing Focus on the Automotive Market
Apart from the latest move, NXP Semiconductors acquired LaterationXYZ's technology to improve ultra-wideband ranging accuracy to millimeters, marking a milestone in UWB technology development for everyday applications requiring precise location and tracking.
Further, NXP Semiconductors launched S32M2, a purpose-built motor control solution for efficiency improvement in vehicle applications like pumps, fans and trunk openers.
Moreover, this integrated system-in-package solution adds power, analog functions and extensive software libraries to the widely adopted S32K microcontrollers, addressing the emerging software-defined electric vehicle market.
All the above-mentioned endeavors are likely to boost the company’s performance across the automotive end-market, which accounts for the majority of its total revenues.
In third-quarter 2023, automotive end-market revenues increased 5% year over year to $1.89 billion, accounting for 55% of total revenues.
Our model expects fourth-quarter 2023 automotive end-market revenues to be $1.9 billion, indicating growth of 5.2% from the 2022 level.
Strong momentum in the underlined segment will likely aid the company’s overall financial performance in the upcoming days.
However, mounting expenses, supply-chain constraints and sluggish industrial & IoT and mobile markets are concerning.
For fourth-quarter 2023, NXP Semiconductors expects revenues in the range of $3.3-$3.5 billion, indicating a decline of 1% year over year at the midpoint.
Zacks Rank and Stocks to Consider
Currently, the company carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader technology sector are Badger Meter BMI, Arista Networks ANET and Snowflake SNOW. While Badger Meter sports a Zacks Rank #1 (Strong Buy), Arista Networks and Salesforce carry a Zacks Rank #2 (Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here.
Badger Meter’s shares have risen 35.2% in the year-to-date period. BMI’s long-term earnings growth rate is 20.39%.
Arista Networks’ shares have rallied 81% in the year-to-date period. ANET’s long-term earnings growth rate is 19.77%
Snowflake’s shares have risen 30.8% in the year-to-date period. SNOW’s long-term earnings growth rate is 64.74%.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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
NXP Semiconductors N.V. (NXPI) : Free Stock Analysis Report
Arista Networks, Inc. (ANET) : Free Stock Analysis Report
Snowflake Inc. (SNOW) : 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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Further, NXP Semiconductors unveiled the UWB device, NCJ29D6B, which enhances secure car access via a digital key on a UWB-enabled mobile phone, offering design flexibility, future-proofing, higher radio frequency sensitivity and larger memory size. Further, NXP Semiconductors launched S32M2, a purpose-built motor control solution for efficiency improvement in vehicle applications like pumps, fans and trunk openers. Moreover, this integrated system-in-package solution adds power, analog functions and extensive software libraries to the widely adopted S32K microcontrollers, addressing the emerging software-defined electric vehicle market.
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Our model expects fourth-quarter 2023 automotive end-market revenues to be $1.9 billion, indicating growth of 5.2% from the 2022 level. While Badger Meter sports a Zacks Rank #1 (Strong Buy), Arista Networks and Salesforce carry a Zacks Rank #2 (Buy) each. Click to get this free report Badger Meter, Inc. (BMI) : Free Stock Analysis Report NXP Semiconductors N.V. (NXPI) : Free Stock Analysis Report Arista Networks, Inc. (ANET) : Free Stock Analysis Report Snowflake Inc. (SNOW) : Free Stock Analysis Report To read this article on Zacks.com click here.
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NXP Semiconductors N.V. Price and Consensus NXP Semiconductors N.V. price-consensus-chart | NXP Semiconductors N.V. Quote Growth Prospects The launch of the UWB devices is in sync with the company’s focus to strengthen its position in the global Ultra-Wideband market. Growing Focus on the Automotive Market Apart from the latest move, NXP Semiconductors acquired LaterationXYZ's technology to improve ultra-wideband ranging accuracy to millimeters, marking a milestone in UWB technology development for everyday applications requiring precise location and tracking. Click to get this free report Badger Meter, Inc. (BMI) : Free Stock Analysis Report NXP Semiconductors N.V. (NXPI) : Free Stock Analysis Report Arista Networks, Inc. (ANET) : Free Stock Analysis Report Snowflake Inc. (SNOW) : Free Stock Analysis Report To read this article on Zacks.com click here.
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NXP Semiconductors N.V. Price and Consensus NXP Semiconductors N.V. price-consensus-chart | NXP Semiconductors N.V. Quote Growth Prospects The launch of the UWB devices is in sync with the company’s focus to strengthen its position in the global Ultra-Wideband market. Notably, NXPI shares have risen 29.1% year to date compared with the industry’s growth of 18.3%. Some better-ranked stocks in the broader technology sector are Badger Meter BMI, Arista Networks ANET and Snowflake SNOW.
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715290.0
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2023-12-01 00:00:00 UTC
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Wall Street Analysts See a 39.07% Upside in Carrols Restaurant (TAST): Can the Stock Really Move This High?
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DCOMP
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https://www.nasdaq.com/articles/wall-street-analysts-see-a-39.07-upside-in-carrols-restaurant-tast%3A-can-the-stock-really
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nan
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Carrols Restaurant Group (TAST) closed the last trading session at $7.55, gaining 29.5% over the past four weeks, but there could be plenty of upside left in the stock if short-term price targets set by Wall Street analysts are any guide. The mean price target of $10.50 indicates a 39.1% upside potential.
The mean estimate comprises three short-term price targets with a standard deviation of $0.87. While the lowest estimate of $10 indicates a 32.5% increase from the current price level, the most optimistic analyst expects the stock to surge 52.3% to reach $11.50. It's very important to note the standard deviation here, as it helps understand the variability of the estimates. The smaller the standard deviation, the greater the agreement among analysts.
While the consensus price target is a much-coveted metric for investors, solely banking on this metric to make an investment decision may not be wise at all. That's because the ability and unbiasedness of analysts in setting price targets have long been questionable.
However, an impressive consensus price target is not the only factor that indicates a potential upside in TAST. This view is strengthened by the agreement among analysts that the company will report better earnings than what they estimated earlier. Though a positive trend in earnings estimate revisions doesn't give any idea as to how much the stock could surge, it has proven effective in predicting an upside.
Here's What You Should Know About Analysts' Price Targets
According to researchers at several universities across the globe, a price target is one of many pieces of information about a stock that misleads investors far more often than it guides. In fact, empirical research shows that price targets set by several analysts, irrespective of the extent of agreement, rarely indicate where the price of a stock could actually be heading.
While Wall Street analysts have deep knowledge of a company's fundamentals and the sensitivity of its business to economic and industry issues, many of them tend to set overly optimistic price targets. Are you wondering why?
They usually do that to drum up interest in shares of companies that their firms either have existing business relationships with or are looking to be associated with. In other words, business incentives of firms covering a stock often result in inflated price targets set by analysts.
However, a tight clustering of price targets, which is represented by a low standard deviation, indicates that analysts have a high degree of agreement about the direction and magnitude of a stock's price movement. While that doesn't necessarily mean the stock will hit the average price target, it could be a good starting point for further research aimed at identifying the potential fundamental driving forces.
That said, while investors should not entirely ignore price targets, making an investment decision solely based on them could lead to disappointing ROI. So, price targets should always be treated with a high degree of skepticism.
Here's Why There Could be Plenty of Upside Left in TAST
There has been increasing optimism among analysts lately about the company's earnings prospects, as indicated by strong agreement among them in revising EPS estimates higher. And that could be a legitimate reason to expect an upside in the stock. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For the current year, one estimate has moved higher over the last 30 days compared to no negative revision. As a result, the Zacks Consensus Estimate has increased 13.5%.
Moreover, TAST currently has a Zacks Rank #1 (Strong Buy), which means it is in the top 5% of more than the 4,000 stocks that we rank based on four factors related to earnings estimates. Given an impressive externally-audited track record, this is a more conclusive indication of the stock's potential upside in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Therefore, while the consensus price target may not be a reliable indicator of how much TAST could gain, the direction of price movement it implies does appear to be a good guide.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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
Carrols Restaurant Group, Inc. (TAST) : 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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Carrols Restaurant Group (TAST) closed the last trading session at $7.55, gaining 29.5% over the past four weeks, but there could be plenty of upside left in the stock if short-term price targets set by Wall Street analysts are any guide. While Wall Street analysts have deep knowledge of a company's fundamentals and the sensitivity of its business to economic and industry issues, many of them tend to set overly optimistic price targets. While that doesn't necessarily mean the stock will hit the average price target, it could be a good starting point for further research aimed at identifying the potential fundamental driving forces.
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Carrols Restaurant Group (TAST) closed the last trading session at $7.55, gaining 29.5% over the past four weeks, but there could be plenty of upside left in the stock if short-term price targets set by Wall Street analysts are any guide. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements. Click to get this free report Carrols Restaurant Group, Inc. (TAST) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Here's What You Should Know About Analysts' Price Targets According to researchers at several universities across the globe, a price target is one of many pieces of information about a stock that misleads investors far more often than it guides. In fact, empirical research shows that price targets set by several analysts, irrespective of the extent of agreement, rarely indicate where the price of a stock could actually be heading. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> Therefore, while the consensus price target may not be a reliable indicator of how much TAST could gain, the direction of price movement it implies does appear to be a good guide.
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The mean price target of $10.50 indicates a 39.1% upside potential. However, an impressive consensus price target is not the only factor that indicates a potential upside in TAST. Here's Why There Could be Plenty of Upside Left in TAST There has been increasing optimism among analysts lately about the company's earnings prospects, as indicated by strong agreement among them in revising EPS estimates higher.
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115816e0-7368-48f7-815b-5ceffc1e4462
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715291.0
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2023-12-01 00:00:00 UTC
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Wall Street Analysts Think Exscientia PLC Sponsored ADR (EXAI) Could Surge 68.03%: Read This Before Placing a Bet
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DCOMP
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https://www.nasdaq.com/articles/wall-street-analysts-think-exscientia-plc-sponsored-adr-exai-could-surge-68.03%3A-read-this
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nan
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nan
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Exscientia PLC Sponsored ADR (EXAI) closed the last trading session at $6.10, gaining 10.9% over the past four weeks, but there could be plenty of upside left in the stock if short-term price targets set by Wall Street analysts are any guide. The mean price target of $10.25 indicates a 68% upside potential.
The mean estimate comprises four short-term price targets with a standard deviation of $2.50. While the lowest estimate of $7 indicates a 14.8% increase from the current price level, the most optimistic analyst expects the stock to surge 113.1% to reach $13. It's very important to note the standard deviation here, as it helps understand the variability of the estimates. The smaller the standard deviation, the greater the agreement among analysts.
While the consensus price target is a much-coveted metric for investors, solely banking on this metric to make an investment decision may not be wise at all. That's because the ability and unbiasedness of analysts in setting price targets have long been questionable.
However, an impressive consensus price target is not the only factor that indicates a potential upside in EXAI. This view is strengthened by the agreement among analysts that the company will report better earnings than what they estimated earlier. Though a positive trend in earnings estimate revisions doesn't give any idea as to how much the stock could surge, it has proven effective in predicting an upside.
Here's What You Should Know About Analysts' Price Targets
According to researchers at several universities across the globe, a price target is one of many pieces of information about a stock that misleads investors far more often than it guides. In fact, empirical research shows that price targets set by several analysts, irrespective of the extent of agreement, rarely indicate where the price of a stock could actually be heading.
While Wall Street analysts have deep knowledge of a company's fundamentals and the sensitivity of its business to economic and industry issues, many of them tend to set overly optimistic price targets. Are you wondering why?
They usually do that to drum up interest in shares of companies that their firms either have existing business relationships with or are looking to be associated with. In other words, business incentives of firms covering a stock often result in inflated price targets set by analysts.
However, a tight clustering of price targets, which is represented by a low standard deviation, indicates that analysts have a high degree of agreement about the direction and magnitude of a stock's price movement. While that doesn't necessarily mean the stock will hit the average price target, it could be a good starting point for further research aimed at identifying the potential fundamental driving forces.
That said, while investors should not entirely ignore price targets, making an investment decision solely based on them could lead to disappointing ROI. So, price targets should always be treated with a high degree of skepticism.
Here's Why There Could be Plenty of Upside Left in EXAI
There has been increasing optimism among analysts lately about the company's earnings prospects, as indicated by strong agreement among them in revising EPS estimates higher. And that could be a legitimate reason to expect an upside in the stock. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For the current year, one estimate has moved higher over the last 30 days compared to no negative revision. As a result, the Zacks Consensus Estimate has increased 1.2%.
Moreover, EXAI currently has a Zacks Rank #2 (Buy), which means it is in the top 20% of more than the 4,000 stocks that we rank based on four factors related to earnings estimates. Given an impressive externally-audited track record, this is a more conclusive indication of the stock's potential upside in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Therefore, while the consensus price target may not be a reliable indicator of how much EXAI could gain, the direction of price movement it implies does appear to be a good guide.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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
Exscientia PLC Sponsored ADR (EXAI) : 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.
|
Exscientia PLC Sponsored ADR (EXAI) closed the last trading session at $6.10, gaining 10.9% over the past four weeks, but there could be plenty of upside left in the stock if short-term price targets set by Wall Street analysts are any guide. While Wall Street analysts have deep knowledge of a company's fundamentals and the sensitivity of its business to economic and industry issues, many of them tend to set overly optimistic price targets. While that doesn't necessarily mean the stock will hit the average price target, it could be a good starting point for further research aimed at identifying the potential fundamental driving forces.
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Exscientia PLC Sponsored ADR (EXAI) closed the last trading session at $6.10, gaining 10.9% over the past four weeks, but there could be plenty of upside left in the stock if short-term price targets set by Wall Street analysts are any guide. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements. Click to get this free report Exscientia PLC Sponsored ADR (EXAI) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Here's What You Should Know About Analysts' Price Targets According to researchers at several universities across the globe, a price target is one of many pieces of information about a stock that misleads investors far more often than it guides. In fact, empirical research shows that price targets set by several analysts, irrespective of the extent of agreement, rarely indicate where the price of a stock could actually be heading. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> Therefore, while the consensus price target may not be a reliable indicator of how much EXAI could gain, the direction of price movement it implies does appear to be a good guide.
|
The mean price target of $10.25 indicates a 68% upside potential. However, an impressive consensus price target is not the only factor that indicates a potential upside in EXAI. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> Therefore, while the consensus price target may not be a reliable indicator of how much EXAI could gain, the direction of price movement it implies does appear to be a good guide.
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e762792c-93cf-4c36-a629-4f2ec9b693a0
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715292.0
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2023-12-01 00:00:00 UTC
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Wall Street Analysts See a 27.66% Upside in SharkNinja, Inc. (SN): Can the Stock Really Move This High?
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DCOMP
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https://www.nasdaq.com/articles/wall-street-analysts-see-a-27.66-upside-in-sharkninja-inc.-sn%3A-can-the-stock-really-move
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nan
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nan
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Shares of SharkNinja, Inc. (SN) have gained 6.5% over the past four weeks to close the last trading session at $47, but there could still be a solid upside left in the stock if short-term price targets of Wall Street analysts are any indication. Going by the price targets, the mean estimate of $60 indicates a potential upside of 27.7%.
The average comprises three short-term price targets ranging from a low of $52 to a high of $67, with a standard deviation of $7.55. While the lowest estimate indicates an increase of 10.6% from the current price level, the most optimistic estimate points to a 42.6% upside. More than the range, one should note the standard deviation here, as it helps understand the variability of the estimates. The smaller the standard deviation, the greater the agreement among analysts.
While the consensus price target is highly sought after by investors, the ability and unbiasedness of analysts in setting price targets have long been questionable. And investors making investment decisions solely based on this tool would arguably do themselves a disservice.
However, an impressive consensus price target is not the only factor that indicates a potential upside in SN. This view is strengthened by the agreement among analysts that the company will report better earnings than what they estimated earlier. Though a positive trend in earnings estimate revisions doesn't give any idea as to how much the stock could surge, it has proven effective in predicting an upside.
Here's What You Should Know About Analysts' Price Targets
According to researchers at several universities across the globe, a price target is one of many pieces of information about a stock that misleads investors far more often than it guides. In fact, empirical research shows that price targets set by several analysts, irrespective of the extent of agreement, rarely indicate where the price of a stock could actually be heading.
While Wall Street analysts have deep knowledge of a company's fundamentals and the sensitivity of its business to economic and industry issues, many of them tend to set overly optimistic price targets. Are you wondering why?
They usually do that to drum up interest in shares of companies that their firms either have existing business relationships with or are looking to be associated with. In other words, business incentives of firms covering a stock often result in inflated price targets set by analysts.
However, a tight clustering of price targets, which is represented by a low standard deviation, indicates that analysts have a high degree of agreement about the direction and magnitude of a stock's price movement. While that doesn't necessarily mean the stock will hit the average price target, it could be a good starting point for further research aimed at identifying the potential fundamental driving forces.
That said, while investors should not entirely ignore price targets, making an investment decision solely based on them could lead to disappointing ROI. So, price targets should always be treated with a high degree of skepticism.
Here's Why There Could be Plenty of Upside Left in SN
There has been increasing optimism among analysts lately about the company's earnings prospects, as indicated by strong agreement among them in revising EPS estimates higher. And that could be a legitimate reason to expect an upside in the stock. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
The Zacks Consensus Estimate for the current year has increased 4.9% over the past month, as two estimates have gone higher compared to no negative revision.
Moreover, SN currently has a Zacks Rank #2 (Buy), which means it is in the top 20% of more than the 4,000 stocks that we rank based on four factors related to earnings estimates. Given an impressive externally-audited track record, this is a more conclusive indication of the stock's potential upside in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Therefore, while the consensus price target may not be a reliable indicator of how much SN could gain, the direction of price movement it implies does appear to be a good guide.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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
SharkNinja, Inc. (SN) : 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.
|
Shares of SharkNinja, Inc. (SN) have gained 6.5% over the past four weeks to close the last trading session at $47, but there could still be a solid upside left in the stock if short-term price targets of Wall Street analysts are any indication. While Wall Street analysts have deep knowledge of a company's fundamentals and the sensitivity of its business to economic and industry issues, many of them tend to set overly optimistic price targets. While that doesn't necessarily mean the stock will hit the average price target, it could be a good starting point for further research aimed at identifying the potential fundamental driving forces.
|
Shares of SharkNinja, Inc. (SN) have gained 6.5% over the past four weeks to close the last trading session at $47, but there could still be a solid upside left in the stock if short-term price targets of Wall Street analysts are any indication. That said, while investors should not entirely ignore price targets, making an investment decision solely based on them could lead to disappointing ROI. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
|
Here's What You Should Know About Analysts' Price Targets According to researchers at several universities across the globe, a price target is one of many pieces of information about a stock that misleads investors far more often than it guides. However, a tight clustering of price targets, which is represented by a low standard deviation, indicates that analysts have a high degree of agreement about the direction and magnitude of a stock's price movement. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> Therefore, while the consensus price target may not be a reliable indicator of how much SN could gain, the direction of price movement it implies does appear to be a good guide.
|
Going by the price targets, the mean estimate of $60 indicates a potential upside of 27.7%. The average comprises three short-term price targets ranging from a low of $52 to a high of $67, with a standard deviation of $7.55. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> Therefore, while the consensus price target may not be a reliable indicator of how much SN could gain, the direction of price movement it implies does appear to be a good guide.
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52c9c37e-ce1b-4172-862e-a93b01c428b8
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715293.0
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2023-12-01 00:00:00 UTC
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Wall Street Analysts See a 150.17% Upside in Morphic Holding, Inc. (MORF): Can the Stock Really Move This High?
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DCOMP
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https://www.nasdaq.com/articles/wall-street-analysts-see-a-150.17-upside-in-morphic-holding-inc.-morf%3A-can-the-stock
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nan
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nan
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Morphic Holding, Inc. (MORF) closed the last trading session at $23.70, gaining 13.6% over the past four weeks, but there could be plenty of upside left in the stock if short-term price targets set by Wall Street analysts are any guide. The mean price target of $59.29 indicates a 150.2% upside potential.
The mean estimate comprises seven short-term price targets with a standard deviation of $19.39. While the lowest estimate of $27 indicates a 13.9% increase from the current price level, the most optimistic analyst expects the stock to surge 237.6% to reach $80. It's very important to note the standard deviation here, as it helps understand the variability of the estimates. The smaller the standard deviation, the greater the agreement among analysts.
While the consensus price target is a much-coveted metric for investors, solely banking on this metric to make an investment decision may not be wise at all. That's because the ability and unbiasedness of analysts in setting price targets have long been questionable.
However, an impressive consensus price target is not the only factor that indicates a potential upside in MORF. This view is strengthened by the agreement among analysts that the company will report better earnings than what they estimated earlier. Though a positive trend in earnings estimate revisions doesn't give any idea as to how much the stock could surge, it has proven effective in predicting an upside.
Here's What You Should Know About Analysts' Price Targets
According to researchers at several universities across the globe, a price target is one of many pieces of information about a stock that misleads investors far more often than it guides. In fact, empirical research shows that price targets set by several analysts, irrespective of the extent of agreement, rarely indicate where the price of a stock could actually be heading.
While Wall Street analysts have deep knowledge of a company's fundamentals and the sensitivity of its business to economic and industry issues, many of them tend to set overly optimistic price targets. Are you wondering why?
They usually do that to drum up interest in shares of companies that their firms either have existing business relationships with or are looking to be associated with. In other words, business incentives of firms covering a stock often result in inflated price targets set by analysts.
However, a tight clustering of price targets, which is represented by a low standard deviation, indicates that analysts have a high degree of agreement about the direction and magnitude of a stock's price movement. While that doesn't necessarily mean the stock will hit the average price target, it could be a good starting point for further research aimed at identifying the potential fundamental driving forces.
That said, while investors should not entirely ignore price targets, making an investment decision solely based on them could lead to disappointing ROI. So, price targets should always be treated with a high degree of skepticism.
Here's Why There Could be Plenty of Upside Left in MORF
There has been increasing optimism among analysts lately about the company's earnings prospects, as indicated by strong agreement among them in revising EPS estimates higher. And that could be a legitimate reason to expect an upside in the stock. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For the current year, two estimates have moved higher over the last 30 days compared to no negative revision. As a result, the Zacks Consensus Estimate has increased 7.4%.
Moreover, MORF currently has a Zacks Rank #2 (Buy), which means it is in the top 20% of more than the 4,000 stocks that we rank based on four factors related to earnings estimates. Given an impressive externally-audited track record, this is a more conclusive indication of the stock's potential upside in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Therefore, while the consensus price target may not be a reliable indicator of how much MORF could gain, the direction of price movement it implies does appear to be a good guide.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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
Morphic Holding, Inc. (MORF) : 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.
|
Morphic Holding, Inc. (MORF) closed the last trading session at $23.70, gaining 13.6% over the past four weeks, but there could be plenty of upside left in the stock if short-term price targets set by Wall Street analysts are any guide. While Wall Street analysts have deep knowledge of a company's fundamentals and the sensitivity of its business to economic and industry issues, many of them tend to set overly optimistic price targets. While that doesn't necessarily mean the stock will hit the average price target, it could be a good starting point for further research aimed at identifying the potential fundamental driving forces.
|
Morphic Holding, Inc. (MORF) closed the last trading session at $23.70, gaining 13.6% over the past four weeks, but there could be plenty of upside left in the stock if short-term price targets set by Wall Street analysts are any guide. Here's Why There Could be Plenty of Upside Left in MORF There has been increasing optimism among analysts lately about the company's earnings prospects, as indicated by strong agreement among them in revising EPS estimates higher. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
|
Here's What You Should Know About Analysts' Price Targets According to researchers at several universities across the globe, a price target is one of many pieces of information about a stock that misleads investors far more often than it guides. In fact, empirical research shows that price targets set by several analysts, irrespective of the extent of agreement, rarely indicate where the price of a stock could actually be heading. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> Therefore, while the consensus price target may not be a reliable indicator of how much MORF could gain, the direction of price movement it implies does appear to be a good guide.
|
The mean price target of $59.29 indicates a 150.2% upside potential. However, an impressive consensus price target is not the only factor that indicates a potential upside in MORF. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> Therefore, while the consensus price target may not be a reliable indicator of how much MORF could gain, the direction of price movement it implies does appear to be a good guide.
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8ce18ac8-22ab-42c0-8c34-c5620915d55d
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715294.0
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2023-12-01 00:00:00 UTC
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Wall Street Analysts Believe Dutch Bros (BROS) Could Rally 28.32%: Here's is How to Trade
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DCOMP
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https://www.nasdaq.com/articles/wall-street-analysts-believe-dutch-bros-bros-could-rally-28.32%3A-heres-is-how-to-trade
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nan
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nan
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Dutch Bros (BROS) closed the last trading session at $26.73, gaining 3% over the past four weeks, but there could be plenty of upside left in the stock if short-term price targets set by Wall Street analysts are any guide. The mean price target of $34.30 indicates a 28.3% upside potential.
The average comprises 10 short-term price targets ranging from a low of $28 to a high of $48, with a standard deviation of $5.58. While the lowest estimate indicates an increase of 4.8% from the current price level, the most optimistic estimate points to a 79.6% upside. More than the range, one should note the standard deviation here, as it helps understand the variability of the estimates. The smaller the standard deviation, the greater the agreement among analysts.
While the consensus price target is a much-coveted metric for investors, solely banking on this metric to make an investment decision may not be wise at all. That's because the ability and unbiasedness of analysts in setting price targets have long been questionable.
But, for BROS, an impressive average price target is not the only indicator of a potential upside. Strong agreement among analysts about the company's ability to report better earnings than they predicted earlier strengthens this view. While a positive trend in earnings estimate revisions doesn't gauge how much a stock could gain, it has proven to be powerful in predicting an upside.
Here's What You Should Know About Analysts' Price Targets
According to researchers at several universities across the globe, a price target is one of many pieces of information about a stock that misleads investors far more often than it guides. In fact, empirical research shows that price targets set by several analysts, irrespective of the extent of agreement, rarely indicate where the price of a stock could actually be heading.
While Wall Street analysts have deep knowledge of a company's fundamentals and the sensitivity of its business to economic and industry issues, many of them tend to set overly optimistic price targets. Are you wondering why?
They usually do that to drum up interest in shares of companies that their firms either have existing business relationships with or are looking to be associated with. In other words, business incentives of firms covering a stock often result in inflated price targets set by analysts.
However, a tight clustering of price targets, which is represented by a low standard deviation, indicates that analysts have a high degree of agreement about the direction and magnitude of a stock's price movement. While that doesn't necessarily mean the stock will hit the average price target, it could be a good starting point for further research aimed at identifying the potential fundamental driving forces.
That said, while investors should not entirely ignore price targets, making an investment decision solely based on them could lead to disappointing ROI. So, price targets should always be treated with a high degree of skepticism.
Why BROS Could Witness a Solid Upside
There has been increasing optimism among analysts lately about the company's earnings prospects, as indicated by strong agreement among them in revising EPS estimates higher. And that could be a legitimate reason to expect an upside in the stock. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
The Zacks Consensus Estimate for the current year has increased 276.5% over the past month, as six estimates have gone higher compared to no negative revision.
Moreover, BROS currently has a Zacks Rank #2 (Buy), which means it is in the top 20% of more than the 4,000 stocks that we rank based on four factors related to earnings estimates. Given an impressive externally-audited track record, this is a more conclusive indication of the stock's potential upside in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Therefore, while the consensus price target may not be a reliable indicator of how much BROS could gain, the direction of price movement it implies does appear to be a good guide.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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
Dutch Bros Inc. (BROS) : 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.
|
While Wall Street analysts have deep knowledge of a company's fundamentals and the sensitivity of its business to economic and industry issues, many of them tend to set overly optimistic price targets. While that doesn't necessarily mean the stock will hit the average price target, it could be a good starting point for further research aimed at identifying the potential fundamental driving forces. Why BROS Could Witness a Solid Upside There has been increasing optimism among analysts lately about the company's earnings prospects, as indicated by strong agreement among them in revising EPS estimates higher.
|
That said, while investors should not entirely ignore price targets, making an investment decision solely based on them could lead to disappointing ROI. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements. Click to get this free report Dutch Bros Inc. (BROS) : Free Stock Analysis Report To read this article on Zacks.com click here.
|
Here's What You Should Know About Analysts' Price Targets According to researchers at several universities across the globe, a price target is one of many pieces of information about a stock that misleads investors far more often than it guides. However, a tight clustering of price targets, which is represented by a low standard deviation, indicates that analysts have a high degree of agreement about the direction and magnitude of a stock's price movement. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> Therefore, while the consensus price target may not be a reliable indicator of how much BROS could gain, the direction of price movement it implies does appear to be a good guide.
|
The mean price target of $34.30 indicates a 28.3% upside potential. Strong agreement among analysts about the company's ability to report better earnings than they predicted earlier strengthens this view. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> Therefore, while the consensus price target may not be a reliable indicator of how much BROS could gain, the direction of price movement it implies does appear to be a good guide.
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a7e7b3df-6a65-4c56-a4df-e003d52ec0f5
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715295.0
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2023-12-01 00:00:00 UTC
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Wall Street Analysts See a 41.01% Upside in Eneti (NETI): Can the Stock Really Move This High?
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DCOMP
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https://www.nasdaq.com/articles/wall-street-analysts-see-a-41.01-upside-in-eneti-neti%3A-can-the-stock-really-move-this-high
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Shares of Eneti (NETI) have gained 8.3% over the past four weeks to close the last trading session at $10.85, but there could still be a solid upside left in the stock if short-term price targets of Wall Street analysts are any indication. Going by the price targets, the mean estimate of $15.30 indicates a potential upside of 41%.
The mean estimate comprises five short-term price targets with a standard deviation of $2.11. While the lowest estimate of $13 indicates a 19.8% increase from the current price level, the most optimistic analyst expects the stock to surge 65.9% to reach $18. It's very important to note the standard deviation here, as it helps understand the variability of the estimates. The smaller the standard deviation, the greater the agreement among analysts.
While the consensus price target is a much-coveted metric for investors, solely banking on this metric to make an investment decision may not be wise at all. That's because the ability and unbiasedness of analysts in setting price targets have long been questionable.
But, for NETI, an impressive average price target is not the only indicator of a potential upside. Strong agreement among analysts about the company's ability to report better earnings than they predicted earlier strengthens this view. While a positive trend in earnings estimate revisions doesn't gauge how much a stock could gain, it has proven to be powerful in predicting an upside.
Here's What You May Not Know About Analysts' Price Targets
According to researchers at several universities across the globe, a price target is one of many pieces of information about a stock that misleads investors far more often than it guides. In fact, empirical research shows that price targets set by several analysts, irrespective of the extent of agreement, rarely indicate where the price of a stock could actually be heading.
While Wall Street analysts have deep knowledge of a company's fundamentals and the sensitivity of its business to economic and industry issues, many of them tend to set overly optimistic price targets. Are you wondering why?
They usually do that to drum up interest in shares of companies that their firms either have existing business relationships with or are looking to be associated with. In other words, business incentives of firms covering a stock often result in inflated price targets set by analysts.
However, a tight clustering of price targets, which is represented by a low standard deviation, indicates that analysts have a high degree of agreement about the direction and magnitude of a stock's price movement. While that doesn't necessarily mean the stock will hit the average price target, it could be a good starting point for further research aimed at identifying the potential fundamental driving forces.
That said, while investors should not entirely ignore price targets, making an investment decision solely based on them could lead to disappointing ROI. So, price targets should always be treated with a high degree of skepticism.
Why NETI Could Witness a Solid Upside
There has been increasing optimism among analysts lately about the company's earnings prospects, as indicated by strong agreement among them in revising EPS estimates higher. And that could be a legitimate reason to expect an upside in the stock. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For the current year, two estimates have moved higher over the last 30 days compared to no negative revision. As a result, the Zacks Consensus Estimate has increased 1425%.
Moreover, NETI currently has a Zacks Rank #1 (Strong Buy), which means it is in the top 5% of more than the 4,000 stocks that we rank based on four factors related to earnings estimates. Given an impressive externally-audited track record, this is a more conclusive indication of the stock's potential upside in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Therefore, while the consensus price target may not be a reliable indicator of how much NETI could gain, the direction of price movement it implies does appear to be a good guide.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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
Eneti Inc. (NETI) : 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 Eneti (NETI) have gained 8.3% over the past four weeks to close the last trading session at $10.85, but there could still be a solid upside left in the stock if short-term price targets of Wall Street analysts are any indication. While Wall Street analysts have deep knowledge of a company's fundamentals and the sensitivity of its business to economic and industry issues, many of them tend to set overly optimistic price targets. While that doesn't necessarily mean the stock will hit the average price target, it could be a good starting point for further research aimed at identifying the potential fundamental driving forces.
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That said, while investors should not entirely ignore price targets, making an investment decision solely based on them could lead to disappointing ROI. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> Therefore, while the consensus price target may not be a reliable indicator of how much NETI could gain, the direction of price movement it implies does appear to be a good guide.
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Here's What You May Not Know About Analysts' Price Targets According to researchers at several universities across the globe, a price target is one of many pieces of information about a stock that misleads investors far more often than it guides. In fact, empirical research shows that price targets set by several analysts, irrespective of the extent of agreement, rarely indicate where the price of a stock could actually be heading. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> Therefore, while the consensus price target may not be a reliable indicator of how much NETI could gain, the direction of price movement it implies does appear to be a good guide.
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Going by the price targets, the mean estimate of $15.30 indicates a potential upside of 41%. Strong agreement among analysts about the company's ability to report better earnings than they predicted earlier strengthens this view. Why NETI Could Witness a Solid Upside There has been increasing optimism among analysts lately about the company's earnings prospects, as indicated by strong agreement among them in revising EPS estimates higher.
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dd16b177-43af-4565-bf16-9634ec8c2aa4
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715296.0
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2023-12-01 00:00:00 UTC
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Here's Why Sterling Infrastructure (STRL) Is a Great 'Buy the Bottom' Stock Now
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DCOMP
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https://www.nasdaq.com/articles/heres-why-sterling-infrastructure-strl-is-a-great-buy-the-bottom-stock-now
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nan
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nan
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A downtrend has been apparent in Sterling Infrastructure (STRL) lately. While the stock has lost 15.9% over the past four weeks, it could witness a trend reversal as a hammer chart pattern was formed in its last trading session. This could mean that the bulls have been able to counteract the bears to help the stock find support.
While the formation of a hammer pattern is a technical indication of nearing a bottom with potential exhaustion of selling pressure, rising optimism among Wall Street analysts about the future earnings of this civil construction company is a solid fundamental factor that enhances the prospects of a trend reversal for the stock.
What is a Hammer Chart and How to Trade It?
This is one of the popular price patterns in candlestick charting. A minor difference between the opening and closing prices forms a small candle body, and a higher difference between the low of the day and the open or close forms a long lower wick (or vertical line). The length of the lower wick being at least twice the length of the real body, the candle resembles a 'hammer.'
In simple terms, during a downtrend, with bears having absolute control, a stock usually opens lower compared to the previous day's close, and again closes lower. On the day the hammer pattern is formed, maintaining the downtrend, the stock makes a new low. However, after eventually finding support at the low of the day, some amount of buying interest emerges, pushing the stock up to close the session near or slightly above its opening price.
When it occurs at the bottom of a downtrend, this pattern signals that the bears might have lost control over the price. And, the success of bulls in stopping the price from falling further indicates a potential trend reversal.
Hammer candles can occur on any timeframe -- such as one-minute, daily, weekly -- and are utilized by both short-term as well as long-term investors.
Like every technical indicator, the hammer chart pattern has its limitations. Particularly, as the strength of a hammer depends on its placement on the chart, it should always be used in conjunction with other bullish indicators.
Here's What Increases the Odds of a Turnaround for STRL
There has been an upward trend in earnings estimate revisions for STRL lately, which can certainly be considered a bullish indicator on the fundamental side. That's because a positive trend in earnings estimate revisions usually translates into price appreciation in the near term.
Over the last 30 days, the consensus EPS estimate for the current year has increased 2.3%. What it means is that the sell-side analysts covering STRL are majorly in agreement that the company will report better earnings than they predicted earlier.
If this is not enough, you should note that STRL currently has a Zacks Rank #2 (Buy), which means it is in the top 20% of more than the 4,000 stocks that we rank based on trends in earnings estimate revisions and EPS surprises. And stocks carrying a Zacks Rank #1 or 2 usually outperform the market. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Moreover, a Zacks Rank of 2 for Sterling Infrastructure is a more conclusive indication of a potential trend reversal, as the Zacks Rank has proven to be an excellent timing indicator that helps investors identify precisely when a company's prospects are beginning to improve.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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
Sterling Infrastructure, Inc. (STRL) : 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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While the stock has lost 15.9% over the past four weeks, it could witness a trend reversal as a hammer chart pattern was formed in its last trading session. While the formation of a hammer pattern is a technical indication of nearing a bottom with potential exhaustion of selling pressure, rising optimism among Wall Street analysts about the future earnings of this civil construction company is a solid fundamental factor that enhances the prospects of a trend reversal for the stock. However, after eventually finding support at the low of the day, some amount of buying interest emerges, pushing the stock up to close the session near or slightly above its opening price.
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A minor difference between the opening and closing prices forms a small candle body, and a higher difference between the low of the day and the open or close forms a long lower wick (or vertical line). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> Moreover, a Zacks Rank of 2 for Sterling Infrastructure is a more conclusive indication of a potential trend reversal, as the Zacks Rank has proven to be an excellent timing indicator that helps investors identify precisely when a company's prospects are beginning to improve. Click to get this free report Sterling Infrastructure, Inc. (STRL) : Free Stock Analysis Report To read this article on Zacks.com click here.
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While the formation of a hammer pattern is a technical indication of nearing a bottom with potential exhaustion of selling pressure, rising optimism among Wall Street analysts about the future earnings of this civil construction company is a solid fundamental factor that enhances the prospects of a trend reversal for the stock. If this is not enough, you should note that STRL currently has a Zacks Rank #2 (Buy), which means it is in the top 20% of more than the 4,000 stocks that we rank based on trends in earnings estimate revisions and EPS surprises. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> Moreover, a Zacks Rank of 2 for Sterling Infrastructure is a more conclusive indication of a potential trend reversal, as the Zacks Rank has proven to be an excellent timing indicator that helps investors identify precisely when a company's prospects are beginning to improve.
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On the day the hammer pattern is formed, maintaining the downtrend, the stock makes a new low. Here's What Increases the Odds of a Turnaround for STRL There has been an upward trend in earnings estimate revisions for STRL lately, which can certainly be considered a bullish indicator on the fundamental side. If this is not enough, you should note that STRL currently has a Zacks Rank #2 (Buy), which means it is in the top 20% of more than the 4,000 stocks that we rank based on trends in earnings estimate revisions and EPS surprises.
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61d1c209-1f5a-42ea-a176-1af5b1c6ded7
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715297.0
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2023-12-01 00:00:00 UTC
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PetIQ (PETQ) May Find a Bottom Soon, Here's Why You Should Buy the Stock Now
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DCOMP
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https://www.nasdaq.com/articles/petiq-petq-may-find-a-bottom-soon-heres-why-you-should-buy-the-stock-now
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nan
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nan
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A downtrend has been apparent in PetIQ (PETQ) lately. While the stock has lost 5.3% over the past two weeks, it could witness a trend reversal as a hammer chart pattern was formed in its last trading session. This could mean that the bulls have been able to counteract the bears to help the stock find support.
While the formation of a hammer pattern is a technical indication of nearing a bottom with potential exhaustion of selling pressure, rising optimism among Wall Street analysts about the future earnings of this pet medications and products maker is a solid fundamental factor that enhances the prospects of a trend reversal for the stock.
What is a Hammer Chart and How to Trade It?
This is one of the popular price patterns in candlestick charting. A minor difference between the opening and closing prices forms a small candle body, and a higher difference between the low of the day and the open or close forms a long lower wick (or vertical line). The length of the lower wick being at least twice the length of the real body, the candle resembles a 'hammer.'
In simple terms, during a downtrend, with bears having absolute control, a stock usually opens lower compared to the previous day's close, and again closes lower. On the day the hammer pattern is formed, maintaining the downtrend, the stock makes a new low. However, after eventually finding support at the low of the day, some amount of buying interest emerges, pushing the stock up to close the session near or slightly above its opening price.
When it occurs at the bottom of a downtrend, this pattern signals that the bears might have lost control over the price. And, the success of bulls in stopping the price from falling further indicates a potential trend reversal.
Hammer candles can occur on any timeframe -- such as one-minute, daily, weekly -- and are utilized by both short-term as well as long-term investors.
Like every technical indicator, the hammer chart pattern has its limitations. Particularly, as the strength of a hammer depends on its placement on the chart, it should always be used in conjunction with other bullish indicators.
Here's What Makes the Trend Reversal More Likely for PETQ
An upward trend in earnings estimate revisions that PETQ has been witnessing lately can certainly be considered a bullish indicator on the fundamental side. That's because empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
The consensus EPS estimate for the current year has increased 58% over the last 30 days. This means that the Wall Street analysts covering PETQ are majorly in agreement about the company's potential to report better earnings than what they predicted earlier.
If this is not enough, you should note that PETQ currently has a Zacks Rank #2 (Buy), which means it is in the top 20% of more than the 4,000 stocks that we rank based on trends in earnings estimate revisions and EPS surprises. And stocks carrying a Zacks Rank #1 or 2 usually outperform the market. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Moreover, the Zacks Rank has proven to be an excellent timing indicator, helping investors identify precisely when a company's prospects are beginning to improve. So, for the shares of PetIQ, a Zacks Rank of 2 is a more conclusive fundamental indication of a potential turnaround.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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
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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While the formation of a hammer pattern is a technical indication of nearing a bottom with potential exhaustion of selling pressure, rising optimism among Wall Street analysts about the future earnings of this pet medications and products maker is a solid fundamental factor that enhances the prospects of a trend reversal for the stock. However, after eventually finding support at the low of the day, some amount of buying interest emerges, pushing the stock up to close the session near or slightly above its opening price. This means that the Wall Street analysts covering PETQ are majorly in agreement about the company's potential to report better earnings than what they predicted earlier.
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A minor difference between the opening and closing prices forms a small candle body, and a higher difference between the low of the day and the open or close forms a long lower wick (or vertical line). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> Moreover, the Zacks Rank has proven to be an excellent timing indicator, helping investors identify precisely when a company's prospects are beginning to improve. Click to get this free report PetIQ, Inc. (PETQ) : Free Stock Analysis Report To read this article on Zacks.com click here.
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While the formation of a hammer pattern is a technical indication of nearing a bottom with potential exhaustion of selling pressure, rising optimism among Wall Street analysts about the future earnings of this pet medications and products maker is a solid fundamental factor that enhances the prospects of a trend reversal for the stock. If this is not enough, you should note that PETQ currently has a Zacks Rank #2 (Buy), which means it is in the top 20% of more than the 4,000 stocks that we rank based on trends in earnings estimate revisions and EPS surprises. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> Moreover, the Zacks Rank has proven to be an excellent timing indicator, helping investors identify precisely when a company's prospects are beginning to improve.
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On the day the hammer pattern is formed, maintaining the downtrend, the stock makes a new low. Here's What Makes the Trend Reversal More Likely for PETQ An upward trend in earnings estimate revisions that PETQ has been witnessing lately can certainly be considered a bullish indicator on the fundamental side. If this is not enough, you should note that PETQ currently has a Zacks Rank #2 (Buy), which means it is in the top 20% of more than the 4,000 stocks that we rank based on trends in earnings estimate revisions and EPS surprises.
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aa72febf-0b0e-4d55-af69-9a346114c6bd
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715298.0
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2023-12-01 00:00:00 UTC
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Draganfly Inc. (DPRO) May Find a Bottom Soon, Here's Why You Should Buy the Stock Now
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DCOMP
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https://www.nasdaq.com/articles/draganfly-inc.-dpro-may-find-a-bottom-soon-heres-why-you-should-buy-the-stock-now
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nan
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nan
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A downtrend has been apparent in Draganfly Inc. (DPRO) lately. While the stock has lost 18.5% over the past four weeks, it could witness a trend reversal as a hammer chart pattern was formed in its last trading session. This could mean that the bulls have been able to counteract the bears to help the stock find support.
The formation of a hammer pattern is considered a technical indication of nearing a bottom with likely subsiding of selling pressure. But this is not the only factor that makes a bullish case for the stock. On the fundamental side, strong agreement among Wall Street analysts in raising earnings estimates for this company enhances its prospects of a trend reversal.
What is a Hammer Chart and How to Trade It?
This is one of the popular price patterns in candlestick charting. A minor difference between the opening and closing prices forms a small candle body, and a higher difference between the low of the day and the open or close forms a long lower wick (or vertical line). The length of the lower wick being at least twice the length of the real body, the candle resembles a 'hammer.'
In simple terms, during a downtrend, with bears having absolute control, a stock usually opens lower compared to the previous day's close, and again closes lower. On the day the hammer pattern is formed, maintaining the downtrend, the stock makes a new low. However, after eventually finding support at the low of the day, some amount of buying interest emerges, pushing the stock up to close the session near or slightly above its opening price.
When it occurs at the bottom of a downtrend, this pattern signals that the bears might have lost control over the price. And, the success of bulls in stopping the price from falling further indicates a potential trend reversal.
Hammer candles can occur on any timeframe -- such as one-minute, daily, weekly -- and are utilized by both short-term as well as long-term investors.
Like every technical indicator, the hammer chart pattern has its limitations. Particularly, as the strength of a hammer depends on its placement on the chart, it should always be used in conjunction with other bullish indicators.
Here's What Increases the Odds of a Turnaround for DPRO
An upward trend in earnings estimate revisions that DPRO has been witnessing lately can certainly be considered a bullish indicator on the fundamental side. That's because empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
The consensus EPS estimate for the current year has increased 5.1% over the last 30 days. This means that the Wall Street analysts covering DPRO are majorly in agreement about the company's potential to report better earnings than what they predicted earlier.
If this is not enough, you should note that DPRO currently has a Zacks Rank #2 (Buy), which means it is in the top 20% of more than the 4,000 stocks that we rank based on trends in earnings estimate revisions and EPS surprises. And stocks carrying a Zacks Rank #1 or 2 usually outperform the market. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Moreover, a Zacks Rank of 2 for Draganfly Inc. is a more conclusive indication of a potential trend reversal, as the Zacks Rank has proven to be an excellent timing indicator that helps investors identify precisely when a company's prospects are beginning to improve.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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
Draganfly Inc. (DPRO) : 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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On the fundamental side, strong agreement among Wall Street analysts in raising earnings estimates for this company enhances its prospects of a trend reversal. However, after eventually finding support at the low of the day, some amount of buying interest emerges, pushing the stock up to close the session near or slightly above its opening price. This means that the Wall Street analysts covering DPRO are majorly in agreement about the company's potential to report better earnings than what they predicted earlier.
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On the fundamental side, strong agreement among Wall Street analysts in raising earnings estimates for this company enhances its prospects of a trend reversal. A minor difference between the opening and closing prices forms a small candle body, and a higher difference between the low of the day and the open or close forms a long lower wick (or vertical line). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> Moreover, a Zacks Rank of 2 for Draganfly Inc. is a more conclusive indication of a potential trend reversal, as the Zacks Rank has proven to be an excellent timing indicator that helps investors identify precisely when a company's prospects are beginning to improve.
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While the stock has lost 18.5% over the past four weeks, it could witness a trend reversal as a hammer chart pattern was formed in its last trading session. If this is not enough, you should note that DPRO currently has a Zacks Rank #2 (Buy), which means it is in the top 20% of more than the 4,000 stocks that we rank based on trends in earnings estimate revisions and EPS surprises. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> Moreover, a Zacks Rank of 2 for Draganfly Inc. is a more conclusive indication of a potential trend reversal, as the Zacks Rank has proven to be an excellent timing indicator that helps investors identify precisely when a company's prospects are beginning to improve.
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On the day the hammer pattern is formed, maintaining the downtrend, the stock makes a new low. When it occurs at the bottom of a downtrend, this pattern signals that the bears might have lost control over the price. Here's What Increases the Odds of a Turnaround for DPRO An upward trend in earnings estimate revisions that DPRO has been witnessing lately can certainly be considered a bullish indicator on the fundamental side.
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e5250e3b-43a8-4a7c-9147-8167d8e4ebc6
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715299.0
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2023-12-01 00:00:00 UTC
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Here's Why InflaRx N.V. (IFRX) Looks Ripe for Bottom Fishing
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DCOMP
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https://www.nasdaq.com/articles/heres-why-inflarx-n.v.-ifrx-looks-ripe-for-bottom-fishing
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nan
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nan
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A downtrend has been apparent in InflaRx N.V. (IFRX) lately. While the stock has lost 5.6% over the past week, it could witness a trend reversal as a hammer chart pattern was formed in its last trading session. This could mean that the bulls have been able to counteract the bears to help the stock find support.
While the formation of a hammer pattern is a technical indication of nearing a bottom with potential exhaustion of selling pressure, rising optimism among Wall Street analysts about the future earnings of this company is a solid fundamental factor that enhances the prospects of a trend reversal for the stock.
What is a Hammer Chart and How to Trade It?
This is one of the popular price patterns in candlestick charting. A minor difference between the opening and closing prices forms a small candle body, and a higher difference between the low of the day and the open or close forms a long lower wick (or vertical line). The length of the lower wick being at least twice the length of the real body, the candle resembles a 'hammer.'
In simple terms, during a downtrend, with bears having absolute control, a stock usually opens lower compared to the previous day's close, and again closes lower. On the day the hammer pattern is formed, maintaining the downtrend, the stock makes a new low. However, after eventually finding support at the low of the day, some amount of buying interest emerges, pushing the stock up to close the session near or slightly above its opening price.
When it occurs at the bottom of a downtrend, this pattern signals that the bears might have lost control over the price. And, the success of bulls in stopping the price from falling further indicates a potential trend reversal.
Hammer candles can occur on any timeframe -- such as one-minute, daily, weekly -- and are utilized by both short-term as well as long-term investors.
Like every technical indicator, the hammer chart pattern has its limitations. Particularly, as the strength of a hammer depends on its placement on the chart, it should always be used in conjunction with other bullish indicators.
Here's What Makes the Trend Reversal More Likely for IFRX
An upward trend in earnings estimate revisions that IFRX has been witnessing lately can certainly be considered a bullish indicator on the fundamental side. That's because empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
The consensus EPS estimate for the current year has increased 30.8% over the last 30 days. This means that the Wall Street analysts covering IFRX are majorly in agreement about the company's potential to report better earnings than what they predicted earlier.
If this is not enough, you should note that IFRX currently has a Zacks Rank #2 (Buy), which means it is in the top 20% of more than the 4,000 stocks that we rank based on trends in earnings estimate revisions and EPS surprises. And stocks carrying a Zacks Rank #1 or 2 usually outperform the market. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Moreover, a Zacks Rank of 2 for InflaRx N.V. is a more conclusive indication of a potential trend reversal, as the Zacks Rank has proven to be an excellent timing indicator that helps investors identify precisely when a company's prospects are beginning to improve.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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
InflaRx N.V. (IFRX) : 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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While the formation of a hammer pattern is a technical indication of nearing a bottom with potential exhaustion of selling pressure, rising optimism among Wall Street analysts about the future earnings of this company is a solid fundamental factor that enhances the prospects of a trend reversal for the stock. However, after eventually finding support at the low of the day, some amount of buying interest emerges, pushing the stock up to close the session near or slightly above its opening price. This means that the Wall Street analysts covering IFRX are majorly in agreement about the company's potential to report better earnings than what they predicted earlier.
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While the stock has lost 5.6% over the past week, it could witness a trend reversal as a hammer chart pattern was formed in its last trading session. A minor difference between the opening and closing prices forms a small candle body, and a higher difference between the low of the day and the open or close forms a long lower wick (or vertical line). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> Moreover, a Zacks Rank of 2 for InflaRx N.V. is a more conclusive indication of a potential trend reversal, as the Zacks Rank has proven to be an excellent timing indicator that helps investors identify precisely when a company's prospects are beginning to improve.
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While the formation of a hammer pattern is a technical indication of nearing a bottom with potential exhaustion of selling pressure, rising optimism among Wall Street analysts about the future earnings of this company is a solid fundamental factor that enhances the prospects of a trend reversal for the stock. If this is not enough, you should note that IFRX currently has a Zacks Rank #2 (Buy), which means it is in the top 20% of more than the 4,000 stocks that we rank based on trends in earnings estimate revisions and EPS surprises. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> Moreover, a Zacks Rank of 2 for InflaRx N.V. is a more conclusive indication of a potential trend reversal, as the Zacks Rank has proven to be an excellent timing indicator that helps investors identify precisely when a company's prospects are beginning to improve.
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On the day the hammer pattern is formed, maintaining the downtrend, the stock makes a new low. Here's What Makes the Trend Reversal More Likely for IFRX An upward trend in earnings estimate revisions that IFRX has been witnessing lately can certainly be considered a bullish indicator on the fundamental side. If this is not enough, you should note that IFRX currently has a Zacks Rank #2 (Buy), which means it is in the top 20% of more than the 4,000 stocks that we rank based on trends in earnings estimate revisions and EPS surprises.
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