Lowe’s Hovers Near Record High Ahead of Q3 Earnings

Lowe’s Companies Inc, a home improvement retailer, is expected to report its third-quarter earnings of $2.33 per share, which represents year-over-year growth of over 17% from $1.98 per share seen in the same period a year ago.

The Mooresville, North Carolina-based company’s revenue would decline more than 1% to $22 billion from $22.31 billion a year earlier. The company has beaten earnings three times in the last four quarters.

Lowe’s is impressed with its performance during the first half of fiscal 2021. Management highlighted that the strong sales trends have continued into August. Accordingly, the company raised its view for the fiscal,” noted analysts at ZACKS Research.

The company now expects to generate revenues of nearly $92 billion, up from its previous prediction of $86 billion. According to the latest top-line view, growth was nearly 2.7% year over year, ZACKS Research added.

On a two-year stacked basis, it represents a comparable sales growth of nearly 30%. Operating margins should be about 12.2%, while gross margins will be about 1% higher. In fiscal 2021, the company expects to repurchase shares worth at least $9 billion.

Lowe’s shares rose over 46% so far this year. The stock ended 0.59% lower at $234.92 on Monday – not far from the record high of $539.15 hit early this month.

Lowe’s Stock Price Forecast

Fourteen analysts who offered stock ratings for Lowe’s in the last three months forecast the average price in 12 months of $241.82 with a high forecast of $265.00 and a low forecast of $217.00.

The average price target represents a 2.94% change from the last price of $234.92. From those 14 analysts, 11 rated “Buy”, three rated “Hold” while none rated “Sell”, according to Tipranks.

Technical analysis suggests it is good to buy as 100-day Moving Average, and 100-200-day MACD Oscillator signals a strong buying opportunity.

Morgan Stanley gave the base target price of $255 with a high of $310 under a bull scenario and $150 under the worst-case scenario. The firm gave an “Overweight” rating on the home improvement retailer’s stock.

Several other analysts have also updated their stock outlook. Piper Sandler raised the target price to $231 from $225. Telsey Advisory Group lifted the target price to $250 from $240. Citigroup upped the price target to $270 from $239.

Analyst Comments

“We view Lowe’s (LOW) favourably given its longer-term transformation opportunity and structural industry tailwinds, with substantial near-term uplifts from COVID-19 spending shifts that likely translate to longer-term sales retention,” noted Simeon Gutman, equity analyst at Morgan Stanley.

“Assuming a healthy underlying housing backdrop, we think comps can accelerate longer-term from stronger sales/sq ft trends, driven by e-comm accelerating, better in-stocks, product refreshes/exclusive launches, greater traction with Pro initiatives, and removing friction from the customer shopping experience.”

Check out FX Empire’s earnings calendar

Preview: What to Expect From Nvidia’s Q3 Earnings on Wednesday

The Santa Clara, California- based multinational technology company, Nvidia, is expected to report its third-quarter earnings of $1.11 per share, which represents a year-over-year decline of over 60% from $2.91 per share seen in the same period a year ago.

The company, which designs graphics processing units for the gaming and professional markets, as well as system on a chip unit for the mobile computing and automotive market would post year-over-year revenue growth of over 40% to $6.8 billion.

According to Oppenheimer analyst Rick Schafer, Nvidia will report above-consensus October quarter results, lifting its price target to $350 from $235 and rating the company “outperform”.

“Supply constraints continue to weigh on the group, though we see Nvidia (NVDA), a top semi-supplier, as better positioned to secure capacity. The company’s leading soup-to-nuts software/hardware platform solidifies its AI accelerator dominance,” Oppenheimer analyst Rick Schafer wrote in his report, reported by Reuters.

Nvidia Stock Price Forecast

Twenty-three analysts who offered stock ratings for Nvidia in the last three months forecast the average price in 12 months of $282.38 with a high forecast of $400.00 and a low forecast of $185.00.

The average price target represents a -7.08% change from the last price of $303.90. From those 23 analysts, 21 rated “Buy”, two rated “Hold” while none rated “Sell”, according to Tipranks.

Technical analysis suggests it is good to buy now as 100-day Moving Average, and 100-200-day MACD Oscillator signals a strong buying opportunity.

Several other analysts have also updated their stock outlook. Evercore ISI raised the target price to $350 from $250. Citigroup lifted the price target to $350 from $223. Wedbush cut to neutral from outperform and upped the target price to $300 from $220. Susquehanna increased the target price to $360 from $250.

Analyst Comments

NVIDIA is benefiting from the coronavirus-induced work-from-home and learn-at-home wave. It is also benefiting from strong growth in GeForce desktop and notebook GPUs, which is boosting gaming revenues. Moreover, a surge in Hyperscale demand remains a tailwind for the company’s Data Center business. Expansion of NVIDIA GeForce NOW is expected to drive a user base. Further, solid uptake of artificial intelligence-based smart cockpit infotainment solutions is a boon,” noted analysts at ZACKS Research.

“Additionally, collaboration with Daimler-owned Mercedes-Benz is expected to further strengthen NVIDIA’s presence in the autonomous vehicles and other automotive electronics space. The stock has outperformed the industry over the past year. However, management expects the COVID-19 pandemic to negatively impact near-term revenues. Moreover, the U.S.-China trade war remains a key concern.”

Check out FX Empire’s earnings calendar

Earnings Week Ahead: Advance Auto Parts, Home Depot, Nvidia and Ross Stores in Focus

Earnings Calendar For The Week Of November 15

Monday (November 15)

IN THE SPOTLIGHT: ADVANCE AUTO PARTS

The leading automotive aftermarket parts retailer Advance Auto Parts is expected to report its third-quarter earnings of $2.87 per share, which represents year-over-year growth of over 2% from $2.81 per share seen in the same period a year ago.

The Raleigh, North Carolina-based company would post revenue growth of nearly 2% to $2.6 billion up from $2.54 billion registered a year earlier. The company has beaten earnings per share (EPS) estimates three times in the last four quarters.

Advance Auto Parts (AAP) operates in a defensive (recession-resistant) category and has one of the largest long-term EBIT margin expansion opportunities in our coverage (we estimate 300-400 bps over time). COVID-19 slowed parts of AAP’s transformation but gross and EBIT margin upside from internal initiatives is still expected beginning in 2021,” noted Simeon Gutman, equity analyst at Morgan Stanley.

“Significant and improving FCF generation plus share repurchases likely to enhance EPS growth. We think the combination of a defensive category, AAP’s progress generating stable top-line growth, and significant margin upside all make for an upside case. Slowing topline momentum and associated risk to margin trajectory balance the risk/reward skew.”

TAKE A LOOK AT OUR EARNINGS CALENDAR FOR THE FULL RELEASES FOR THE NOVEMBER 15

Ticker Company EPS Forecast
AAP Advance Auto Parts $2.87
JJSF J&J Snack Foods $1.28
CMP Compass Minerals International $0.62

Tuesday (November 16)

IN THE SPOTLIGHT: HOME DEPOT

The largest home improvement retailer in the United States, Home Depot, is expected to report its third-quarter earnings of $3.39 per share, which represents year-over-year growth of about 7% from $3.18 per share seen in the same period a year ago.

The home improvement retailer would post revenue growth of over 4% to $34.942 billion from $33.54 billion a year earlier. In the last two years, the company has beaten earnings per share (EPS) estimates in most of the quarters with a surprise of over 5%.

Home Depot shares have gained nearly 40% so far this year. The stock closed 1.36% higher at $372.63 on Friday. Home Depot’s better-than-expected results, which will be announced on Nov 16, could help the stock hit new all-time highs.

“Shares of Home Depot have risen and outpaced the industry year to date. The company boasts a robust surprise trend with the fifth straight quarter of earnings and sales beat in second-quarter fiscal 2021. Results gained from continued demand for home improvement projects, the robust housing market and ongoing investments. The company is effectively adapting to the demand for renovations and construction activities, driven by prudent investments,” noted analysts at ZACKS Research.

“It is gaining from growth in Pro and DIY customer categories as well as digital momentum. However, in the second quarter, the company witnessed year-over-year moderation in its comparable-store sales growth. This was due to the lapping of the high demand environment for home-improvement projects seen last year. Soft gross margin, stemming from increased penetration of lumber, has also been a drag.”

TAKE A LOOK AT OUR EARNINGS CALENDAR FOR THE FULL RELEASES FOR THE NOVEMBER 16

Ticker Company EPS Forecast
ICP Intermediate Capital £32.70
HSV Homeserve £6.60
ARMK Aramark $0.19
HD Home Depot $3.35
DLB Dolby Laboratories $0.35
LAND Land Securities £18.78
IMB Imperial Brands PLC £138.10

Wednesday (November 17)

IN THE SPOTLIGHT: NVIDIA

The Santa Clara, California- based multinational technology company, Nvidia, is expected to report its third-quarter earnings of $1.11 per share, which represents a year-over-year decline of over 60% from $2.91 per share seen in the same period a year ago.

The company, which designs graphics processing units for the gaming and professional markets, as well as system on a chip unit for the mobile computing and automotive market would post year-over-year revenue growth of over 40% to $6.8 billion.

According to Oppenheimer analyst Rick Schafer, Nvidia will report above-consensus October quarter results, lifting its price target to $350 from $235 and rating the company “outperform”.

“Supply constraints continue to weigh on the group, though we see Nvidia (NVDA), a top semi-supplier, as better positioned to secure capacity. The company’s leading soup-to-nuts software/hardware platform solidifies its AI accelerator dominance,” Oppenheimer analyst Rick Schafer wrote in his report, reported by Reuters.

TAKE A LOOK AT OUR EARNINGS CALENDAR FOR THE FULL RELEASES FOR THE NOVEMBER 17

Ticker Company EPS Forecast
BLND British Land Company £8.75
SGE The Sage Group £11.11
LOW Lowe’s Companies $2.33
CPRT Copart $0.99
NVDA Nvidia $1.11
CPA Copa -$0.19
KLIC Kulicke And Soffa Industries $2.07
TTEK Tetra Tech $1.00
HI Hillenbrand $0.91
SSE SSE £11.80

Thursday (November 18)

IN THE SPOTLIGHT: ROSS STORES

The second-largest off-price retailer in the U.S., Ross Stores, is expected to report its third-quarter earnings of $0.79 per share, which represents a year-over-year decline of over 24% from $1.02 per share seen in the same period a year ago.

The U.S. home fashion chain would post year-over-year revenue growth of nearly 16% to $4.4 billion. The company has beaten earnings per share (EPS) estimates three times in the last four quarters.

“Market share capture from competitor bankruptcies & store closures, favourable customer fundamentals, and high exposure to Hispanics, the fastest-growing US population segment, support 6-8% long-term revenue growth and 10%+ annual EPS. Upward EPS revisions appear an ongoing positive share price catalyst. Profit flow-through is magnified when comps exceed the 1-2% plan in a typical year,” noted Kimberly Greenberger, equity analyst at Morgan Stanley.

“The ‘everyday value’ proposition fosters comp outperformance, while recessions accelerate customer acquisition. Low average selling prices ($8-10/unit) and narrow gross margin render selling online unprofitable at this price point.”

TAKE A LOOK AT OUR EARNINGS CALENDAR FOR THE FULL RELEASES FOR THE NOVEMBER 18

Ticker Company EPS Forecast
NG National Grid £15.70
HLMA Halma £21.19
RMG Royal Mail -£6.30
NJR New Jersey Resources $0.08
KSS Kohl’s $0.69
HP Helmerich & Payne -$0.50
MMS Maximus $0.87
BJ BJs Wholesale Club Holdings Inc $0.79
M Macy’s $0.29
BERY Berry Plastics $1.53
NUAN Nuance Communications $0.20
BRC Brady $0.76
ROST Ross Stores $0.79
INTU Intuit $0.97
FTCH Farfetch -$0.24
ESE ESCO Technologies $0.78

Friday (November 19)

Ticker Company EPS Forecast
BKE Buckle $0.80
FL Foot Locker $1.34

 

Walt Disney Shares Slump Premarket After Subscribers Growth Disappoints

Walt Disney shares slumped nearly 5% in pre-market trading on Thursday after the family entertainment company reported lower-than-expected earnings and revenue in the fiscal fourth quarter as slow growth in streaming users fell short of analysts’ expectations.

The Burbank, California-based company reported Q4 revenue of $18.53 billion in the fourth quarter, missing the Wall Street consensus estimates of $18.79 billion. The company reported earnings per share of $0.37, below the market consensus estimates of $0.52 per share.

Disney+ added 2.1 million subscribers, way below the market expectations of 10.2 million. That was also the tiniest jump since the streaming video service was launched, Reuters reported. Following this, Walt Disney shares fell nearly 5% to $166.30 in pre-market trading on Thursday.

By 2024, the company plans to have 260 million customers, and management expects the recent slowdown to be temporary.

Analyst Comments

Disney posted a weak end to fiscal 2021 as Disney+ only added 2.1 million customers, its lowest quarter yet, to end the year at 118 million subscribers. Still, the Disney+ subscriber base increased by 44.4 million in fiscal 2021, well ahead of the 18.4 million new users added at Netflix over the same period,” noted Neil Macker, senior equity analyst at Morningstar.

“While Netflix is the much larger service with almost 214 million subscribers around the globe, Disney+ is only available in just over 60 countries, many of which were added in the last year. Even with the slower-than-expected subscriber growth this quarter, we still project robust long-term growth for the service. We maintain our wide moat and fair value estimate of $170.”

Walt Disney Stock Price Forecast

Twenty analysts who offered stock ratings for Walt Disney in the last three months forecast the average price in 12 months of $215.32 with a high forecast of $263.00 and a low forecast of $175.00. The average price target represents a 23.43% change from the last price of $174.45. From those 20 analysts, 16 rated “Buy”, four rated “Hold” while none rated “Sell”, according to Tipranks.

However, technical analysis suggests it is good to sell now as 100-day Moving Average, and 100-200-day MACD Oscillator signals a strong selling opportunity.

Morgan Stanley gave the base target price of $210 with a high of $250 under a bull scenario and $135 under the worst-case scenario. The firm gave an “Overweight” rating on the entertainment company’s stock.

“Impact on our Overweight (OW) thesis: Our OW thesis on Walt Disney (DIS) shares is based on the view that Disney is one of a shortlist of global streaming platforms that can achieve significant scale and profitability, which combined with the earnings growth at its Parks business offers investors adjusted EPS growth from $2 in FY21 to $10 in FY25. In addition to this growth, the earnings mix shift will move away from legacy media earnings towards streaming and parks which should be accretive to ROIC and the multiple,” noted Benjamin Swinburne, equity analyst at Morgan Stanley.

“The F4Q results and the updated outlook was a mixed bag with respect to our thesis, but ultimately we see the negative near-term revisions as tied to the timing of content delivery in streaming and operating leverage at parks.”

Several other analysts have also updated their stock outlook. CFRA cut the target price by $20 to $200. Barclays slashed the target price to $175 from $210. Guggenheim cut the target price to $205 from $215. JPMorgan raised the target price to $230 from $220.

Check out FX Empire’s earnings calendar

Preview: What to Expect From AstraZeneca’s Q3 Earnings on Friday

The British-Swedish pharmaceutical giant AstraZeneca is expected to report earnings per share of GBP 92.54 in the third quarter on revenue of GBP 7.04 billion.

The one listed on the U.S. exchange was expected to report revenue growth of over 50% to $9.871 billion from $6.58 billion seen in the same period a year earlier. The earnings per share (EPS) was expected to rise to $0.62 from $0.47 a year ago.

“We estimate Q3 EPS of $1.23 (+31%) vs. consensus of $1.24. We forecast total Q3 revenue of $9.85B (+50%) vs. consensus of $9.62B. Collaboration revenue is estimated to contribute $80MM. Q3 estimates of key products include: Tagrisso (+19% to $1,370MM), Imfinzi (+28% to $685MM), Lynparza (+36% to $630MM), and Fasenra (+44% to $345MM),” noted Steve Scala, equity analyst at Cowen.

The London-listed AstraZeneca shares rose nearly 30% so far this year. It was trading 1.04% higher at GBX 9,386 at the time of writing on Wednesday. AstraZeneca’s better-than-expected third-quarter earnings results, which will be announced on Friday, November 12, could help the stock scale to a fresh record high.

Analyst Comments

“We expect Q3’21 sales to reflect lower levels of cancer diagnoses and VBP pressures in China, with the gross margin continuing to be impacted by COVID-19 vaccine sales and changes in product mix. With collaboration revenues / OOI phased into 4Q21, consensus Q3’21 earnings appear c.8% too high,” noted Mark Purcell, equity analyst at Morgan Stanley.

“Sector leading growth: The acquisition of Alexion should accelerate revenue growth to 8% CAGR FY22-25e, whilst strengthening the therapeutic and geographic diversification of the group. After reflecting cost synergies, we project ~15% earnings CAGR FY22-25e vs. ~8% for peers. Product & pipeline optionality: We see a further 20-30% upside risk to cons. expectations from new product launches. In addition, we see near-term upside from the pipeline, where positive readouts could drive MSD upside to cons. mid-term earnings. Valuation is compelling: Currently trading on~16x FY’22e P/E/at a 40% discount to close comparator Novo, despite offering stronger and arguably more diversified growth.”

AstraZeneca Stock Price Forecast

Thirteen analysts who offered stock ratings for AstraZeneca in the last three months forecast the average price in 12 months of GBX 9,596.25 with a high forecast of GBX 15,000.00 and a low forecast of GBX 105.00.

The average price target represents a 2.26% change from the last price of 9,384.00p. All of those 13 analysts rated “Buy”, according to Tipranks.

Morgan Stanley gave the base target price of GBX 10,000 with a high of GBX 12,000 under a bull scenario and GBX 6,900 under the worst-case scenario. The firm gave an “Overweight” rating on the pharmaceutical company’s stock.

Several other analysts have also updated their stock outlook. UBS raised the target price to GBX 10,000 from GBX 9,200. Guggenheim lifted the target price to GBX 11,100 from GBX 11,000. HSBC upped the target price to GBX 8,750 from GBX 7,131.

Technical analysis suggests it is good to buy now as 100-day Moving Average, and 100-200-day MACD Oscillator signals a strong buying opportunity.

Check out FX Empire’s earnings calendar

Earnings Week Ahead: PayPal, Middleby, Walt Disney and AstraZeneca in Focus

Earnings Calendar For The Week Of November 8

Monday (November 8)

IN THE SPOTLIGHT: PAYPAL

The leading global payments company PayPal will post earnings of $1.07 per share in the third quarter, more or less in line with the reading seen in the same period a year ago. San Jose, California-based company would post revenue growth of about 14% to around $6.2 billion.

PayPal estimates revenues of about $6.15 billion to $6.25 billion during the third quarter of 2021, up by 13-14% from the previous quarter. The company anticipates non-GAAP earnings per share of $1.07 during Q3 of 2021.

PayPal, one of our top OWs (Overweight), is the preferred digital wallet option for non-Amazon merchants, as evidenced by its online acceptance lead vs. other digital wallets and industry-low attrition. PayPal’s efforts to offer a seamless and secure checkout experience ties its TPV growth rate with the secular growth of eCommerce. As consumers increase their habitual use of PayPal, the company should grow its TPV at or above the rate of eCommerce (ex-Amazon),” noted James Faucette, equity analyst at Morgan Stanley.

“Venmo, POS and partnership monetization could offer additional TPV and revenue growth, while operating leverage from its scale support 20%+ earnings growth over the medium term, despite near-term headwinds from eBay and macro impacts.”

TAKE A LOOK AT OUR EARNINGS CALENDAR FOR THE FULL RELEASES FOR THE NOVEMBER 8

Ticker Company EPS Forecast
FIVN Five9 $0.24
THS TreeHouse Foods $0.50
BKI Black Iron Inc. $0.57
COTY Coty $0.02
AEIS Advanced Energy Industries $0.82
AMRS Amyris -$0.15
SANM Sanmina $0.99
AU Anglogold Ashanti $0.36
MRTX Mirati Therapeutics -$2.88
CTRE CareTrust REIT $0.20
PSEC Prospect Capital $0.18
AMC AMC Entertainment -$0.53
VAC Marriottacations Worldwide $1.42
JKHY Jack Henry Associates $1.32
PRI Primerica $2.98
NNI Nelnet $1.68
OSH Oak Street Health -$0.42
ACAD Acadia Pharmaceuticals -$0.26
FSK FS KKR Capital $0.61
MWA Mueller Water Products $0.19
AEL American Equity Investment Life $0.76
PRAA PRA $0.73
DOOR Masonite International $1.87
TRIP TripAdvisor $0.24
NHI National Health Investors $0.98
TREX Trex $0.58
IFF International Flavors Fragrances $1.37
ENV Envestnet $0.58
TWO Two Harbors Investment $0.19
CBT Cabot $1.03
PYPL PayPal $1.07

Tuesday (November 9)

IN THE SPOTLIGHT: MIDDLEBY

Middleby, a global leader in the foodservice equipment industry, is expected to report earnings of $2.03 in the third quarter, which represents year-over-year growth of over 50% from $1.34 per share seen in the same period a year ago.

The U.S. foodservice equipment maker will report revenue of $837.32 million, up 32% from the same period a year ago. It is worth noting that the company has always surpassed consensus earnings estimates in the last four quarters.

“The outlook for MIDD appears positive heading into 3Q21 earnings next week, with ITW Food Equipment seeing ~50% growth in restaurant revenue and JBT Foodtech generating+15% organic growth. Restaurant commentary points to investment activity centred around increasing efficiency/productivity, although we could see new builds pushed out due to labour/supply chain constraints,” noted Saree Boroditsky, an equity analyst at Jefferies.

TAKE A LOOK AT OUR EARNINGS CALENDAR FOR THE FULL RELEASES FOR THE NOVEMBER 9

Ticker Company EPS Forecast
HAIN Hain Celestial $0.24
IGT International Game Technology $0.53
JHX James Hardie Industries $0.32
HAE Haemonetics $0.61
IIVI Ii Vi $0.83
FSS Federal Signal $0.46
TAC TransAlta USA $0.11
WRK WESTROCK $1.17
STWD Starwood Property $0.52
CAH Cardinal Health $1.33
PLTR Palantir Technologies Inc. $0.04
DHI DR Horton $3.39
SGMS Scientific Games $0.37
ELY Callaway Golf $0.03
OCGN Ocugen -$0.04
SEAS SeaWorld Entertainment $1.66
SATS EchoStar $0.33
ITCI Intra Cellular Therapies -$0.90
MIDD Middleby $2.03
EC Ecopetrol $2,315.76
ADT ADT $0.08
SYY Sysco $0.86
G Genpact $0.56
JAZZ Jazz Pharmaceuticals $3.31
RNG RingCentral $0.33
TTEC TeleTech $0.84
NSTG NanoString Technologies -$0.55
LGND Ligand Pharmaceuticals $1.07
BAK Braskem $2.34
EPAY Bottomline Technologies $0.25
PAAS Pan American Silver USA $0.35
NUVA NuVasive $0.54
CNNE Cannae $0.09
COKE Coca Cola Bottlingconsolidated $7.86
PAY VeriFone Systems $0.01
CCXI ChemoCentryx -$0.45
SWX Southwest Gas $0.13
DAR Darling Ingredients $0.82
ASH Ashland $1.34
EDU New Oriental Education Tech -$0.05
GOL Gol Linhas Aereas Inteligentes -$1.01

Wednesday (November 10)

IN THE SPOTLIGHT: WALT DISNEY

Walt Disney, a family entertainment company, is expected to report its fiscal fourth-quarter earnings of $0.44 per share, which represents year-over-year growth of over 320% from a loss of -$0.20 per share seen in the same period a year ago.

The family entertainment company would post revenue growth of 28% to $18.8 billion. The company has beaten earnings per share (EPS) estimates all times in the last four quarters, according to ZACKS Research.

As of July, Disney+ and Hotstar had more than 116 million subscribers, while Hulu and ESPN+ combined had more than 57 million subscribers. Barclays analysts cite slowing growth and the fact that Disney+ produces far less new content than Netflix, as reasons for their scepticism. Disney+ claims to have 250 million subscribers by 2024, Fobes reported.

“We see Disney on the shortlist of global streaming majors. Despite significant continued upward earnings revisions, shares have lagged as net adds expectations ran ahead of content deliveries. As the content pipeline builds into ’22 and ’23, core net adds should accelerate, driving shares,” noted Benjamin Swinburne, equity analyst at Morgan Stanley.

Disney is building content assets that enable it to take advantage of the significant direct-to-consumer streaming opportunity ahead. Disney’s underlying IP remains best-in-class, supporting long term content monetization opportunities. During this period of FCF pressure from Parks closures, ESPN’s FCF generation is key to driving down leverage. Historical cycles suggest a potential return to above prior peak US Parks revenues in FY23.”

TAKE A LOOK AT OUR EARNINGS CALENDAR FOR THE FULL RELEASES FOR THE NOVEMBER 10

Ticker Company EPS Forecast
AY Atlantica Yield $0.60
PRGO Perrigo $0.65
ADNT Adient PLC -$0.75
WWW Wolverine World Wide $0.61
ENR Energizer $0.72
GIB CGI Group USA $1.08
AER AerCap $2.22
ELP Companhia Paranaense De Energia $0.66
MSGS Madison Square Garden Sports -$1.30
PAM Pampa Energia $0.93
BRKS Brooks Automation USA $0.77
YPF YPF $0.31
ENS Enersys $1.07
EBR Centrais Eletricas Brasileiras $0.25
FICO Fair Isaac $3.18
CCMP Cabot Microelectronics $1.87
DIS Walt Disney $0.52
BRFS BRF $0.03
ATO Atmos Energy $0.34
KGC Kinross Gold USA $0.06

Thursday (November 11)

Ticker Company EPS Forecast
CAE Cae USA $0.16
GFI Gold Fields $0.21
AEG Aegon -$0.02
TPR Tapestry Inc $0.70
BAM Brookfield Asset Management USA $0.83
EPC Edgewell Personal Care $0.84
UTZ Utz Brands $0.16
FLO Flowers Foods $0.25
CELH Celsius $0.06
SBH Sally Beauty $0.52
MT Arcelormittal $4.01
PVG Pretium Resources $0.16
SBS Companhia De Saneamento Basico $0.19
BLFS BioLife Solutions -$0.07

Friday (November 12)

IN THE SPOTLIGHT: ASTRAZENECA

The British-Swedish pharmaceutical giant AstraZeneca is expected to report earnings per share of GBP 92.54 in the third quarter on revenue of GBP 7.04 billion.

“We expect Q3’21 sales to reflect lower levels of cancer diagnoses and VBP pressures in China, with the gross margin continuing to be impacted by COVID-19 vaccine sales and changes in product mix. With collaboration revenues / OOI phased into 4Q21, consensus Q3’21 earnings appear c.8% too high,” noted Mark D Purcell, equity analyst at Morgan Stanley.

TAKE A LOOK AT OUR EARNINGS CALENDAR FOR THE FULL RELEASES FOR THE NOVEMBER 12

Ticker Company EPS Forecast
MFG Mizuho Financial $0.08
SMFG Sumitomo Mitsui Financial $0.20
CIG Companhia Energetica Minas Gerais $0.07
SPB Spectrum Brands $0.79
ROLL Rbc Bearings $1.05

 

Moderna Q3 Earnings to Swing From Year-Ago Losses; Revenue to Skyrocket

Moderna, the biotech company focused on drug discovery, is expected to report its third-quarter earnings of $9.13 per share, which represents year-over-year growth of over 1,800% from a loss of -$0.53 per share seen in the same period a year ago.

The Massachusetts-based biotechnology company would post revenue growth of 3,500% to around $6.09 billion.

Moderna’s COVID-19 vaccine demonstrated strong uptake in multiple countries where it received authorization for temporary use in the past few months. The company expects more than $19 billion in vaccine sales in 2021. Advance purchase agreements with several countries for 2022 worth $20 billion in aggregate is already in place. It is also developing several promising mRNA-based pipeline candidates, targeting a wide range of rare diseases and cancer indications,” noted analysts at ZACKS Research.

“Multiple partnerships with big pharma companies to develop some of its pipeline candidates provide funds to the company. The early to mid-stage nature of its pipeline runs a high degree of risk. Any development setbacks would be a major disappointment for the company. Estimates have improved ahead of Q3 results. Moderna has a mixed record of earnings surprises in the recent quarters,” ZACKS added.

Moderna shares soared over 230% so far this year. The stock rose over 1% to $352.50 in pre-market trading on Wednesday.

Moderna Stock Price Forecast

Thirteen analysts who offered stock ratings for Moderna in the last three months forecast the average price in 12 months of $366.56 with a high forecast of $468.00 and a low forecast of $115.00.

The average price target represents a 5.14% change from the last price of $348.64. From those 13 analysts, five rated “Buy”, five rated “Hold”, while three rated “Sell”, according to Tipranks.

Morgan Stanley gave the base target price of $337 with a high of $667 under a bull scenario and $23 under the worst-case scenario. The firm gave an “Equal-weight” rating on the biotechnology company’s stock.

Several other analysts have also updated their stock outlook. Brookline Capital Markets raised the target price to $475 from $468. Deutsche Bank initiated with sell rating and $250 target price. CFRA lifted to buy from hold; lifted the target price to $385.

Analyst Comments

“We are Equal-weight Moderna. While we believe there is long-term upside for Moderna, we believe the significant valuation increase associated with the success of the COVID-19 vaccine limits the near-term upside,” noted Matthew Harrison, equity analyst at Morgan Stanley.

“The company has taken an industrialized approach to developing mRNA-based therapeutics and has rapidly generated a broad pipeline of 21 programs, 11 of which have entered clinical development. We believe Moderna’s mRNA drug development platform is more diversified and scalable compared with competitors and is validated through broad partnerships with Merck and AstraZeneca. We see vaccines and rare diseases as the key valuation drivers of the company.”

Check out FX Empire’s earnings calendar

Pharmaceutical Giant Pfizer to Deliver Healthy Q3 Earnings

The blue-chip pharmaceutical giant Pfizer is expected to report earnings per share of $1.08 in the third quarter, which represents year-over-year growth of about 50% from $0.72 per share seen in the same period a year ago.

The pharmaceutical company, which ranked 64th on the 2020 Fortune 500 list of the largest U.S. corporations by total revenue, will report revenue of $22.7 billion, up nearly 90% from the same period a year ago.

Pfizer’s revenue and earnings have both reached new highs due to strong sales of its coronavirus vaccine. Orders of coronavirus vaccines have continued to flood-in this year, which has led the company to upgrade its guidance multiple times.

According to the company’s latest quarterly update back in July, it expects revenue of $78.0 billion to $80.0 billion with adjusted earnings per share of $3.95 to $4.05. That would be a significant improvement from the $41.9 billion revenue and $2.22 EPS the company generated in 2020.

The stock has risen on vaccine developments for over a year now, but most investors now wonder if vaccine stocks are still worth investing.

“We’re reaching a juncture where the markets are looking past the Covid-19 pandemic. Vaccine revenue is likely to see little growth or no growth over 2022, per consensus revenue estimates for the likes of Moderna and Pfizer. We think investors will need to evaluate vaccine stocks based on the potential of their future pipelines and other drugs,” noted analysts at TREFIS.

Pfizer Stock Price Forecast

Seven analysts who offered stock ratings for Pfizer in the last three months forecast the average price in 12 months of $46.79 with a high forecast of $61.00 and a low forecast of $40.50.

The average price target represents a 7.22% change from the last price of $43.64. From those seven analysts, one rated “Buy”, six rated “Hold”, while none rate “Sell”, according to Tipranks.

Morgan Stanley gave the base target price of $48 with a high of $56 under a bull scenario and $37 under the worst-case scenario. The firm gave an “Equal-weight” rating on the pharmaceutical company’s stock.

Several other analysts have also updated their stock outlook. Citigroup raised the price target to $46 from $43. Independent Research lifted the target price to $51 from $49.

Analyst Comments

“We project solid growth prospects, and the company’s COVID vaccine offers significant accretion potential in 2021 and 2022. But we expect COVID vaccine sales and profits to decline significantly in 2023+,” noted Matthew Harrison, equity analyst at Morgan Stanley.

Pfizer’s dividend is expected to continue to increase at current level despite Viatris’ dividend payment. Lack of clarity in near to mid-term pipeline potential. Pipeline execution and M&A will be key to investor perception, given late-decade patent expiration exposure.”

Check out FX Empire’s earnings calendar

Monstrous Earnings Ahead: Facebook, Microsoft, Alphabet, Apple and Amazon in Focus

Earnings Calendar For The Week Of October 25

Monday (October 25)

IN THE SPOTLIGHT: FACEBOOK

The world’s largest online social network Facebook is expected to report its third-quarter earnings of $3.19 per share, which represents year-over-year growth of over 17% from $2.71 per share seen in the same period a year ago.

The Menlo Park, California-based social media conglomerate would post revenue growth of over 35% to around $29.3 billion. It has beaten consensus earnings per share estimates in all of the last four quarters.

“We kept our 3Q21 adv forecast in check after our 3Q21 Digital ad expert call on 10/8, which suggested strong but decelerating ad growth at Core FB and IG with growth led mainly by pricing. For 3Q21, we are +0.7% & (1.0%) vs. consensus revenue & EBITDA; we are 1.1% and 1.6% above 4Q21 cons. rev. & EBITDA. Investors will focus on iOS 14.5 colour and 4Q21 rev. guide at the print,” noted John Blackledge, equity analyst at Cowen.

“We forecast 16% annual revenue growth’21-’26 driven by 16% annual advertising revenue and offset by 6% annual Other revenue. We view Advertising revenue as driven mostly by the contribution of mobile, video and Instagram, while we forecast Desktop remaining flattish. We expect EBITDA margins to remain roughly in line with current levels.”

TAKE A LOOK AT OUR EARNINGS CALENDAR FOR THE FULL RELEASES FOR THE OCTOBER 25

Ticker Company EPS Forecast
HSBA HSBC Holdings £0.10
CBU Community Bank System $0.80
BOH Bank of Hawaii $1.33
DORM Dorman Products $1.22
FBP First Bancorp FBP $0.28
IBA Industrias Bachoco Sab De Cv $0.88
HSBC HSBC $0.69
KMB Kimberly Clark $1.65
OTIS Otis Worldwide Corp $0.73
LII Lennox International $3.65
PCH Potlatch $0.92
CALX Calix $0.29
BXS BancorpSouth $0.65
CATY Cathay General Bancorp $0.91
IBTX Independent Bank $1.30
AIN Albany International $0.70
BDN Brandywine Realty $0.02
OI Owens-Illinois $0.52
ARI Apollo Commercial Real Est Finance $0.36
HTLF Heartland Financial USA $1.23
FB Facebook $3.19
ARE Alexandria Real Estate Equities $0.54
SUI Sun Communities $0.97
BRO Brown & Brown $0.52
CCK Crown $1.96
PKG Packaging Of America $2.35
UHS Universal Health Services $2.75
AGNC American Capital Agency $0.65
ACC American Campus Communities -$0.10
RNR Renaissancere -$7.85
TNET TriNet $0.79
ASR Grupo Aeroportuario Del Sureste $44.91
CR Crane $1.36
AMKR Amkor Technology $0.44
SSD Simpson Manufacturing $1.79
AXTA Axalta Coating Systems $0.34
TMUS T-Mobile Us $0.48
CDNS Cadence Design Systems $0.75
HWM Howmet Aerospace Inc $0.26
NWE Northwestern $0.58
MSNFY Minera Frisco ADR $0.00
TLK Telekomunikasi Indns Tbk Prshn Pp Pt $0.45
GT Goodyear Tire & Rubber $0.25
RCL Royal Caribbean Cruises -$4.13

Tuesday (October 26)

IN THE SPOTLIGHT: MICROSOFT, ALPHABET

MICROSOFT: The Redmond, Washington-based global technology giant would report its fiscal first-quarter earnings of $2.07 per share, which represents year-over-year growth of about 14% from $1.82 per share seen in the same period a year ago. The world’s largest software maker would post revenue growth of over 18% to around $44 billion. It is worth noting that the company has beaten earnings per share estimates at all times in the last two years.

“Channel work and CIO survey point to building momentum across Cloud and Hybrid solutions, which should power a strong Q1 top-line. Revenue outperformance may prove operating margins more durable than feared, driving EPS upside. Our model suggests durable high-teens EPS growth,” noted Keith Weiss, equity analyst at Morgan Stanley.

ALPHABET: The parent of Google and the world’s largest search engine that dominates internet search activity globally, Alphabet, is expected to report its third-quarter earnings of $23.75 per share, which represents year-over-year growth of about 45% from $16.4 per share seen in the same period a year ago.

The Mountain View, California-based internet giant would post revenue growth of more than 35% to around $51.4 billion. In the last two years, the company has beaten earnings per share estimates most of the time with a surprise of over 25%.

“We remain bullish on Search strength amid an ongoing ad market recovery and following our Digital ad expert check-call on 10/7, which suggested strong Search spend (despite tougher comps) as CPCs continue to drive growth. Our 3Q21 net rev. (+39% y/y), EBITDA, & EPS are all above consensus. We also expect robust Holiday spending, despite inventory issues. Maintain Outperform & $3,300 Price Target,” noted John Blackledge, equity analyst at Cowen.

“We currently forecast 13% and 14% annual gross and net revenue growth respectively’21-’26 and EBITDA growth of ~14% over the time period.”

TAKE A LOOK AT OUR EARNINGS CALENDAR FOR THE FULL RELEASES FOR THE OCTOBER 26

Ticker Company EPS Forecast
LMT Lockheed Martin $2.29
CAJ Canon $0.42
UPS United Parcel Service $2.55
CNC Centene $1.24
ST Sensata Technologies $0.83
HAS Hasbro $1.70
TRU TransUnion $0.93
IVZ Invesco $0.73
DAN Dana $0.49
SPGI S&P Global Inc $3.16
CIT CIT $1.14
PCAR PACCAR $1.21
FELE Franklin Electric $0.92
RTX Raytheon Technologies Corp $1.08
ENTG Entegris $0.87
SSTK Shutterstock $0.58
SFNC Simmons First National $0.57
GPK Graphic Packaging $0.32
SHW Sherwin-Williams $2.13
ARCC Ares Capital $0.44
HUBB Hubbell $2.37
PNR Pentair Ordinary Share $0.84
ADM Archer-Daniels Midland $0.89
WM Waste Management $1.36
ECL Ecolab $1.30
PHM PulteGroup $1.80
AWI Armstrong World Industries $1.29
ABG Asbury Automotive $6.30
GE General Electric $0.43
LOGI Logitech Internationalusa $1.05
CB Chubb $2.25
CHRW C.H. Robinson Worldwide $1.42
NOV National Oilwell Varco -$0.08
FIBK First Interstate BancSystem $0.74
EGP EastGroup Properties $0.69
HPP Hudson Pacific Properties -$0.01
FFIV F5 Networks $2.75
WSBC WesBanco $0.77
MANH Manhattan Associates $0.54
NAVI Navient $0.82
JNPR Juniper Networks $0.46
NCR NCR $0.64
WIRE Encore Wire $2.92
VIST Vista Oil Gas $0.19
AMP Ameriprise Financial $5.48
HIW Highwoods Properties $0.34
OMAB Grupo Aeroportuario Del Centro Nort $15.88
UMBF UMB Financial $1.80
DLR Digital Realty $0.24
CSGP CoStar $0.23
TWTR Twitter $0.18
ESS Essex Property $1.01
EQR Equity Residential $0.22
MASI Masimo $0.91
MSFT Microsoft $2.07
LFUS Littelfuse $3.15
V Visa $1.55
MTDR Matador Resources $0.99
GOOGL Alphabet $23.75
AAT American Assets $0.18
BXP Boston Properties $0.62
BYD Boyd Gaming $1.24
GOOG Alphabet $23.84
FBHS Fortune Brands Home Security $1.38
TRMK Trustmark $0.47
AMD Advanced Micro Devices $0.66
RRC Range Resources $0.54
UDR UDR $0.04
ROIC Retail Opportunity Investments $0.06
TXN Texas Instruments $2.05
COF Capital One Financial $5.28
PFG Principal Financial $1.59
APAM Artisan Partners Asset Management $1.32
TER Teradyne $1.43
FQVLF First Quantum Minera $0.34
PII Polaris Industries $1.96
CVLT Commvault Systems $0.57
IEX IDEX $1.59
FRME First Merchants $0.91
ENPH Enphase Energy $0.49
LLY Eli Lilly $1.96
HNP Huaneng Power International $0.69
UBS UBS Group $0.43
ORAN Orange $0.68
MSCI Msci $2.43
MMM 3M $2.20
NVS Novartis $1.64
JBLU JetBlue Airways -$0.18
GLW Corning $0.58
ACH Aluminum Of China $0.51
PPERY PT Bank Mandiri Persero TBK $0.17
XRX Xerox $0.44
DSV DSV kr13.73
BZLFY Bunzl plc $0.15
BNZL Bunzl £0.31
HTA Healthcare Of America $0.09
WTB Whitbread -£184.33
EDU New Oriental Education Tech -$0.05
AJRD Aerojet Rocketdyne $0.48
FBC Flagstar Bancorp $1.72

Wednesday (October 27)

Ticker Company EPS Forecast
SF Stifel Financial $1.48
FIX Comfort Systems USA $0.99
ALKS ALKERMES $0.06
BCO Brinks $1.02
FLS Flowserve $0.40
ALGT Allegiant Travel $0.68
PAG Penske Automotive $3.54
UMC United Microelectronics $0.20
SAN Banco Santander $0.14
DB Deutsche Bank $0.03
RJF Raymond James Financial $1.71
FORM FormFactor $0.36
APH Amphenol $0.63
GD General Dynamics $2.98
SNBR Scs Group Plc $1.43
URI United Rentals $6.83
HES Hess $0.27
BA Boeing -$0.15
EW Edwards Lifesciences $0.53
NSC Norfolk Southern $2.91
GSK Glaxosmithkline $0.78
BMRN BioMarin Pharmaceutical -$0.24
ROL Rollins $0.20
SCI Service International $0.45
EVR Evercore Partners $2.97
AVY Avery Dennison $2.04
BMY Bristol-Myers Squibb $1.93
MCD McDonalds $2.46
TEVA Teva Pharmaceutical Industries $0.65
MAS Masco $0.89
CME CME $1.56
NYCB New York Community Bancorp $0.32
SLAB Silicon Laboratories $0.15
GM General Motors $0.86
ROCK Gibraltar Industries $1.17
GGB Gerdau $0.37
BSBR Banco Santander Brasil $0.19
DTE DTE Energy $1.83
WAB Westinghouse Air Brake Technologies $1.12
TEL TE Connectivity $1.64
FISV Fiserv $1.45
TDY Teledyne Technologies $2.66
PB Prosperity Bancshares $1.37
BSX Boston Scientific $0.40
ODFL Old Dominion Freight Line $2.36
VRT Veritas Pharma $0.19
TMO Thermo Fisher Scientific $4.68
KO Coca-Cola $0.58
HOG Harley Davidson $0.78
KHC Kraft Heinz $0.58
HLT Hilton Worldwide $0.78
R Ryder System $2.09
ADP ADP $1.49
SPOT Spotify -$0.22
DT Dynatrace Holdings $0.16
OC Owens Corning $2.47
SLGN Silgan $1.04
BG Bunge $1.42
VRTS Virtus Investment Partners $9.61
GRMN Garmin $1.26
TMHC Taylor Morrison Home $1.21
SIX Swiss Exchange $1.42
AIT Applied Industrial Technologies $1.25
IP International Paper $1.41
BXMT Blackstone Mortgage $0.61
FCNCA First Citizens Bancshares $7.86
EQT EQT -$0.05
WCN Waste Connections $0.85
RE Everest Re $0.03
CHX ChampionX Corp $0.18
CNMD CONMED $0.75
PPC Pilgrim’s Pride $0.76
ALSN Allison Transmission $0.90
AXS Axis Capital -$0.49
MXL MaxLinear $0.67
IRBT Irobot $0.74
NLY Annaly Capital Management $0.27
EVTC Evertec $0.62
CINF Cincinnati Financial $0.93
CHDN Churchill Downs $1.38
MUSA Murphy USA $3.25
THG Hanover $1.25
PDM Piedmont Office Realty $0.06
PEGA Pegasystems -$0.27
CCS Century Communities $3.14
DRE Duke Realty $0.21
NOW ServiceNow $1.39
KLAC KLA-Tencor $4.52
ALGN Align Technology $2.59
AFL Aflac $1.31
KOF Coca Cola Femsa Sab De Cv $15.93
AR Antero Resources $0.31
CONE CyrusOne $0.01
CACI Caci International $4.13
FWRD Forward Air $1.07
EXR Extra Space Storage $1.24
KRC Kilroy Realty $0.34
ACGL Arch Capital $0.41
SIMO Silicon Motion Technology $1.62
CTSH Cognizant Technology Solutions $1.05
CNO CNO Financial Group $0.61
FLEX Flextronics International $0.40
MKSI MKS Instruments $2.77
NOVA Nova Mentis Life Science Corp -$0.27
MTH Meritage Homes $4.67
TROX Tronox $0.64
SIGI Selective $1.07
MC Moelis & Company $1.26
AZPN Aspen Technology $0.67
EHC Encompass Health Corp $1.06
MOH Molina Healthcare $2.80
AVB AvalonBay Communities $0.88
TYL Tyler Technologies $1.77
AGI Alamos Gold $0.11
AM Antero Midstream Partners $0.18
PLXS Plexus $1.26
MAA Mid-America Apartment Communities $0.64
F Ford Motor $0.26
EBAY eBay $0.89
ASGN On Assignment $1.46
XLNX Xilinx $0.86
ORLY O’Reilly Automotive $7.16
AEM Agnico Eagle Mines USA $0.62
VIV Telefonica Brasil $0.14
ISBC Investors Bancorp $0.31
SHI SinOPEC Shanghai Petrochemical $1.03

Thursday (October 28)

IN THE SPOTLIGHT: APPLE, AMAZON

APPLE: The consumer electronics giant would post its fiscal fourth-quarter earnings of $1.23 per share, which represents year-over-year growth of over 68% from $0.73 per share seen in the same quarter a year ago.

The iPhone manufacturer would post revenue of $84.4 billion. It is worth noting that the company has beaten earnings in all last eight quarters. It is worth noting that the company has beaten earnings per share estimates at all times in the last two years.

“Our F4Q21 and FY22 ests move higher (above consensus) on the back of positive quarter-end checks, but we don’t see earnings as a meaningful catalyst given unresolved key debates including FY22 iPhone growth and impact of App Store changes,” noted Katy Huberty, equity analyst at Morgan Stanley.

AMAZON: The eCommerce leader for physical and digital merchandise is expected to report its third-quarter earnings of $8.91 per share, which represents a year-over-year decline of about 28% from $12.37 per share seen in the same period a year ago.

The Seattle, Washington-based multinational technology giant would post revenue growth of more than 16% to around $112 billion. The company has beaten earnings per share estimates in most of the quarters in the last two years.

“The market’s unwillingness to credit what Deliveroo is doing has been brought into sharp focus with the 3Q21 trading update. The outperformance on growth and guidance alone is worth credit but doing so on unchanged unit economics is a sector-wide aspiration – the doubling of Plus subscribers in <1 month of the Amazon Prime partnership is surely a big driver here,” noted Giles Thorne, equity analyst at Jefferies.

TAKE A LOOK AT OUR EARNINGS CALENDAR FOR THE FULL RELEASES FOR THE OCTOBER 28

Ticker Company EPS Forecast
ORI Old Republic International $0.61
MDP Meredith $0.68
MPW Medical Properties $0.29
KMPR Kemper $0.06
LOPE Grand Canyon Education $1.14
ASX Advanced Semiconductor Engineering $0.21
X United States Steel $4.70
FE FirstEnergy $0.79
KBR KBR $0.58
BUD Anheuser-Busch $0.62
RMD ResMed $1.37
LYG Lloyds Banking $0.08
STM Stmicroelectronics $0.52
KPELY Keppel Corporation $0.10
THRM Gentherm $0.72
LIN Linde PLC $2.67
WNS Wns Holdings $0.76
CAT Caterpillar $2.20
CNX Consol Energy $0.32
RS Reliance Steel & Aluminum $6.00
CBRE CBRE Group Inc $1.16
KEX Kirby $0.27
SAH Sonic Automotive $1.93
AMT American Tower $1.19
SIRI Sirius XM $0.07
TROW T. Rowe Price $3.31
VC Visteon $0.23
TW Towers Watson $0.39
TAP Molson Coors Brewing $1.54
HBAN Huntington Bancshares $0.32
HSY Hershey $2.00
AGCO AGCO $1.88
ITW Illinois Tool Works $2.00
SWI Solarwinds $0.27
CFR Cullen/Frost Bankers $1.52
GOL Gol Linhas Aereas Inteligentes -$1.07
CWT California Water Service $0.86
WLTW Willis $1.59
FCN FTI Consulting $1.48
VLY Valley National Bancorp $0.30
NOC Northrop Grumman $5.99
AVNT Avient Corp $0.68
MDC MDC $2.09
SWK Stanley Black & Decker $2.50
XEL Xcel Energy $1.18
MCO Moody’s $2.52
BC Brunswick $1.96
DQ Daqo New Energy $2.20
SAIA Saia $2.35
ALNY Alnylam Pharmaceuticals -$1.54
KDP Keurig Dr Pepper $0.44
TPX Tempur Sealy International $0.84
EXP Eagle Materials $2.71
CHKP Check Point Software Technologies $1.60
COR CoreSite Realty $0.47
NEM Newmont Mining $0.79
AEP American Electric Power $1.46
LH Laboratory Of America $4.92
COLB Columbia Banking System $0.71
AOS A.O. Smith $0.68
WST West Pharmaceutical Services $1.80
RGEN Repligen $0.64
OSTK Overstock $0.43
WEX WEX $2.28
IDA IdaCorp $1.98
LECO Lincoln Electric $1.53
GPI Group 1 Automotive $9.20
SKX Skechers USA $0.72
RSG Republic Services $1.05
ATR AptarGroup $0.94
LPLA LPL Financial $1.76
AUY Yamana Gold USA $0.08
FHI Federated Hermes Inc $0.72
AJG Arthur J. Gallagher $1.21
CUZ Cousins Properties $0.20
SPSC SPS Commerce $0.42
WRE Washington Real Estate Investment -$0.06
MSTR Microstrategy $0.57
SKYW SkyWest $0.97
INT World Fuel Services $0.34
PSB PS Business Parks $0.87
CHE Chemed $4.52
BIO Bio-Rad Laboratories $2.44
SSNC SS&C Technologies $1.20
POWI Power Integrations $0.78
DXCM Dexcom $0.64
BSMX Santander Mexico Fincl Gp Sab Decv $0.17
VALE Vale $1.26
SBCF Seacoast Banking Of Florida $0.49
HUBG HUB $1.10
STAG STAG Industrial $0.17
ZEN Zendesk $0.17
ACHC Acadia Healthcare $0.72
TEX Terex $0.74
WDC Western Digital $2.45
COLM Columbia Sportswear $1.30
PEB Pebblebrook Hotel -$0.39
GILD Gilead Sciences $1.74
TEAM Atlassian Corporation PLC $0.40
MMSI Merit Medical Systems $0.44
WERN Werner $0.96
CWST Casella Waste Systems $0.27
SM SM Energy $0.11
AVT Avnet $1.08
TXRH Texas Roadhouse $0.82
FMX Fomento Economico Mexicano Sab $17.43
SBUX Starbucks $1.00
MPWR Monolithic Power Systems $2.00
GLPI Gaming And Leisure Properties $0.60
CPT Camden Property $0.47
OFC Orate Office Properties $0.25
SGEN Seattle Genetics -$0.57
SYK Stryker $2.29
ERIE Erie Indemnity $1.73
VRSN Verisign $1.40
HIG Hartford Financial Services $0.90
AAPL Apple $1.23
EMN Eastman Chemical $2.46
LFC China Life $0.53
YMZBY Yamazaki Baking ADR $0.35
NLSN Nielsen $0.36
CG Carlyle $0.99
CMCSA Comcast $0.75
OSK Oshkosh $1.04
HOCPY Hoya Corp $0.98
YUM Yum Brands $1.09
BAX Baxter International $0.94
ABEV Ambev $0.03
SNY Sanofi $1.15
HTH Hilltop $0.82
MA Mastercard $2.18
KMTUY Komatsu $0.38
FTV Fortive Corp $0.65
CX Cemex Sab De Cv $0.17
PRFT Perficient $0.85
CARR Carrier Global Corp $0.66
LKQ LKQ $0.86
PBR Petroleo Brasileiro Petrobras $0.57
MO Altria $1.26
MRK Merck & Co $1.54
BVN Compania De Minas Buenaventura $0.25
NATI National Instruments $0.18
TFX Teleflex $3.03
ERJ Embraer -$0.13
INSM Insmed -$0.93
APELY Alps Electric $0.68
MHK Mohawk Industries $3.80
TXT Textron $0.78
AMZN Amazon $8.91
RLGY Realogy $1.16
CMS CMS Energy Corporation $0.55
ABMD Abiomed $0.98
EME EMCOR $1.77
ICE Intercontinental Exchange $1.21
ATI Allegheny Technologies -$0.03
EXPO Exponent $0.39
ABCB Ameris Bancorp $1.18
RNST Renasant $0.66
ADS Alliance Data Systems $3.48
SU Suncor Energy USA $0.59
DECK Deckers Outdoor $3.92
PTCT PTC Therapeutics -$1.75
MD Mednax $0.41
SJW SJW $0.74
DVA DaVita Healthcare Partners $2.26

Friday (October 29)

Ticker Company EPS Forecast
ABR Arbor Realty $0.43
PEXNY PTT Exploration & Production $0.16
SHLX Shell Midstream Partners $0.33
SNP China Petroleum Chemical $2.32
PSXP Phillips 66 Partners $0.95
RDY Drreddys Laboratories $0.56
NMR Nomura $0.19
PNM PNM Resources $1.18
BAH Booz Allen Hamilton $1.08
LAZ Lazard $0.94
TOTDY Toto $0.32
BBVA Banco Bilbaoizcaya Argentaria $0.17
CHD Church Dwight $0.71
CVX Chevron $2.21
ALNPY ANA Holdings ADR -$0.11
LHX L3Harris Technologies Inc $3.18
E ENI $0.73
PSX Phillips 66 $1.89
ASEKY Aisin Seiki Co $0.75
PTR Petrochina $1.86
BNPQY BNP Paribas ADR $1.03
AON AON $1.70
HUN Huntsman $0.94
CL Colgate-Palmolive $0.80
CHTR Charter Communications $5.69
GWW Grainger $5.30
BSAC Banco Santander Chile $0.49
SJR Shaw Communications USA $0.26
ABBV AbbVie $3.22
WY Weyerhaeuser $0.57
BCPC Balchem $0.83
LYB LyondellBasell Industries $5.69
POR Portland General Electric $0.66
CCJ Cameco USA -$0.02
NWL Newell Brands Inc $0.50
CERN Cerner $0.82
WPC W. P. Carey $0.55
BACHY Bank China ADR $0.67
CICHY China Construction Bank Corp $0.87
CEA China Eastern Airlines $0.66

 

Alphabet on Strong Footing, Could Scale to Fresh Record High on Upbeat Q3 Earnings

The parent of Google and the world’s largest search engine that dominates internet search activity globally, Alphabet, is expected to report its third-quarter earnings of $23.84 per share, which represents year-over-year growth of about 45% from $16.4 per share seen in the same period a year ago.

The Mountain View, California-based internet giant would post revenue growth of more than 35% to around $51.4 billion. In the last two years, the company has beaten earnings per share (EPS) estimates most of the time with a surprise of over 25%.

Alphabet’s better-than-expected third-quarter earnings results, which will be announced on Tuesday, October 26 after the close of trading, could help the stock scale to a fresh record high. The company’s shares rose over 57% so far this year. It was trading 2.68% lower at $2,761.66 on Friday.

Analyst Comments

“We remain bullish on Search strength amid an ongoing ad market recovery and following our Digital ad expert check-call on 10/7, which suggested strong Search spend (despite tougher comps) as CPCs continue to drive growth. Our 3Q21 net rev. (+39% y/y), EBITDA, & EPS are all above consensus. We also expect robust Holiday spending, despite inventory issues. Maintain Outperform & $3,300 Price Target,” noted John Blackledge, equity analyst at Cowen.

“We currently forecast 13% and 14% annual gross and net revenue growth respectively’21-’26 and EBITDA growth of ~14% over the time period.”

Alphabet Stock Price Forecast

Thirty-one analysts who offered stock ratings for Alphabet in the last three months forecast the average price in 12 months of $3,209.24 with a high forecast of $3,600.00 and a low forecast of $3,000.00.

The average price target represents a 16.32% change from the last price of $2,759.00. All of those 31 analysts rated “Buy”, according to Tipranks.

Morgan Stanley gave the base target price of $3,000 with a high of $3,500 under a bull scenario and $2,100 under the worst-case scenario. The firm gave an “Overweight” rating on the information services provider’s stock.

Several other analysts have also updated their stock outlook. Mizuho raised the price target to $3,100 from $3,000. Bernstein lifted the target price to $3,250 from $3,200. RBC initiated the coverage with outperform rating and a $3,400 target price.

Check out FX Empire’s earnings calendar

Social Media Giant Facebook on Track to Beat Earnings Estimates Again

The world’s largest online social network Facebook is expected to report its third-quarter earnings of $3.18 per share, which represents year-over-year growth of over 17% from $2.71 per share seen in the same period a year ago.

The Menlo Park, California-based social media conglomerate would post revenue growth of over 35% to around $29.3 billion. It has beaten consensus earnings per share estimates in all of the last four quarters.

According to ZACKS Research, Facebook forecasts the revenue growth rate for the third and fourth quarters of 2021 is expected to decelerate significantly on a sequential basis. Changes implemented in iOS 14.5 will limit the company’s ability to track user activity trends. The social media company estimates its current year expenses will range between $70 billion and $73 billion.

Facebook is forecasting capital expenditures of $19 billion to $21 billion for the current year, driven by increased investments in data centers, servers, infrastructure and office spaces. Facebook shares rose over 6% to hit an all-time high of $421.1499 on Wednesday, ZACKS Research added.

Facebook’s better-than-expected third-quarter earnings results, which will be announced on Monday, October 25 after the close of trading, could help the stock recoup recent losses. The company’s shares rose over 25% so far this year. It was trading 0.26% higher at $341.78 on Thursday.

Analyst Comments

“We kept our 3Q21 adv forecast in check after our 3Q21 Digital ad expert call on 10/8, which suggested strong but decelerating ad growth at Core FB and IG with growth led mainly by pricing. For 3Q21, we are +0.7% & (1.0%) vs. consensus revenue & EBITDA; we are 1.1% and 1.6% above 4Q21 cons. rev. & EBITDA. Investors will focus on iOS 14.5 colour and 4Q21 rev. guide at the print,” noted John Blackledge, equity analyst at Cowen.

“We forecast 16% annual revenue growth’21-’26 driven by 16% annual advertising revenue and offset by 6% annual Other revenue. We view Advertising revenue as driven mostly by the contribution of mobile, video and Instagram, while we forecast Desktop remaining flattish. We expect EBITDA margins to remain roughly in line with current levels.”

Facebook Stock Price Forecast

Thirty-three analysts who offered stock ratings for Facebook in the last three months forecast the average price in 12 months of $422.88 with a high forecast of $500.00 and a low forecast of $300.00.

The average price target represents a 23.77% change from the last price of $341.66. From those 33 analysts, 27 rated “Buy”, five rated “Hold” while one rated “Sell”, according to Tipranks.

Morgan Stanley gave the base target price of $400 with a high of $485 under a bull scenario and $300 under the worst-case scenario. The firm gave an “Overweight” rating on the social media company’s stock.

“Monetization Potential: We are positive on Facebook’s (FB) monetization roll-out of Instagram as well as FB’s ability to continue to innovate and improve its monetization (Canvas Ads, Dynamic Ads, video). Combined with high and growing engagement we see monetization upside going forward,” noted Brian Nowak, equity analyst at Morgan Stanley.

“Investing from Position of Strength to Drive Faster Long-Term Growth: We are modeling ~32% GAAP opex (excl. one-time items) growth in 2021, implying an incremental ~$16bn in opex. Our base case model implies opex per employee moderates in ’21 while FB hiring remains roughly flat on an absolute basis. We believe FB will grow EPS at a ~40% CAGR (2019-2022).”

Several other analysts have also updated their stock outlook. Jefferies raised the price objective to $440 from $425. HSBC lifted the target price to $300 from $275. Citigroup upped the price target to $365 from $320.

Check out FX Empire’s earnings calendar

Gold Stocks Break to New Yearly Lows!

The HUI Index (gold stocks) broke to new 2021 lows while the USD Index broke to new 2021 highs. Just as I’ve been warning you.

Mining stocks’ extreme weakness relative to gold continued yesterday, and while it may seem like the weakness has to have a limit, this limit is likely still quite far from the markets right now.

Let’s take a look at the long-term HUI Index chart for details.

Remember when I told you that the tiny buy signal from the stochastic indicator was unlikely to trigger anything more than a brief pause? That was based on the analogy to what happened in late 2012 when miners paused, and then the decline simply continued. Well, gold stocks did exactly that and gold stocks declined once again. Right now, they are right after the breakdown to new yearly lows, and this has profound implications in light of the analogy to the 2012 – 2013 decline.

You see, when the HUI Index declined below the previous lows back in 2013, it meant that the biggest part of the slide was underway. The profit potential was still there, as it was still the first half of the biggest decline, but it meant that waiting for another big rebound in order to add to one’s short positions was not a good idea.

To clarify, there were two short-term consolidations soon after the breakdown in 2013. One of them took the HUI about 4% higher (in February 2013) and then we saw a decline. Afterwards, about 7%-8% correction (in March 2013) followed and then the biggest part of the decline took place.

Consequently, we might see a consolidation in gold stocks quite soon, but I wouldn’t expect it to be anything to write home about. At the current price levels, 4% – 8% means a decline of about 9 – 19 index. In the case of the GDXJ (if it moved in tune with the HUI), it would imply a move up by $1.5 – $3.

Of course, this is a hypothetical discussion of what might happen when gold stocks correct, but it doesn’t imply that they are likely to correct now. Actually, the opposite seems likely because of the HUI’s breakdown and the USD’s breakout. Again, forecasting gold stocks at higher levels in the near term might be a dangerous thing to do.

So, to clarify, the above-mentioned corrective upswing is likely to take place after another short-term move lower. If the GDXJ bottoms at about $35, then seeing it correct to about $36.5 – $38 will be quite normal.

As far as the short-term price moves in the mining stocks are concerned, my previous comments remain up-to-date. Yesterday, I wrote the following about the GDX ETF:

What happened? Senior gold miners finally broke decisively below the neck level of their head-and-shoulders formation, while juniors’ freefall continued.

Yesterday, senior miners closed below the neck level of the pattern for the second day, which means that the breakdown is almost confirmed.

The GDX has encountered strong support provided by the previous 2021 lows, but it doesn’t mean that we have to see a rebound here. Why? Because other proxies for mining stocks are already after the breakdown. This is the case with the GDXJ ETF, the HUI Index, and also the XAU Index. Even silver stocks – the SIL ETF –closed below the previous 2021 lows for the second day in a row.

So, did mining stocks encounter strong support here? Not really, only one of the proxies did – the GDX ETF. The remaining ones are already after a breakdown to new 2021 lows, and if we get a weekly close below them as well, the breakdown will be confirmed.

Thank you for reading our free analysis today. Please note that the above is just a small fraction of today’s all-encompassing Gold & Silver Trading Alert. The latter includes multiple premium details such as the targets for gold and mining stocks that could be reached in the next few weeks. If you’d like to read those premium details, we have good news for you. As soon as you sign up for our free gold newsletter, you’ll get a free 7-day no-obligation trial access to our premium Gold & Silver Trading Alerts. It’s really free – sign up today.

For a look at all of today’s economic events, check out our economic calendar.

Przemyslaw Radomski, CFA
Founder, Editor-in-chief
Sunshine Profits: Effective Investment through Diligence & Care

* * * * *

All essays, research and information found above represent analyses and opinions of Przemyslaw Radomski, CFA and Sunshine Profits’ associates only. As such, it may prove wrong and be subject to change without notice. Opinions and analyses are based on data available to authors of respective essays at the time of writing. Although the information provided above is based on careful research and sources that are deemed to be accurate, Przemyslaw Radomski, CFA and his associates do not guarantee the accuracy or thoroughness of the data or information reported. The opinions published above are neither an offer nor a recommendation to purchase or sell any securities. Mr. Radomski is not a Registered Securities Advisor. By reading Przemyslaw Radomski’s, CFA reports you fully agree that he will not be held responsible or liable for any decisions you make regarding any information provided in these reports. Investing, trading and speculation in any financial markets may involve high risk of loss. Przemyslaw Radomski, CFA, Sunshine Profits’ employees and affiliates as well as members of their families may have a short or long position in any securities, including those mentioned in any of the reports or essays, and may make additional purchases and/or sales of those securities without notice.

 

Monstrous Earnings Week Ahead: Tesla, Google, Microsoft, Apple, Facebook and Amazon in Focus

Earnings Calendar For The Week Of July 26

Monday (July 26)

IN THE SPOTLIGHT: TESLA, LOCKHEED MARTIN

TESLA: The California-based electric vehicle and clean energy company is expected to report its second-quarter earnings of $0.94 per share, which represents year-over-year growth of over 113% from $0.44 per share seen in the same quarter a year ago.

The high-performance electric vehicle manufacturer would post revenue growth of about 90% to around $11.4 billion. The electric vehicle producer has beaten earnings three times in the last four quarters.

“A double-fly-wheel. We believe Tesla can leverage its cost leadership in EVs to aggressively expand its user base, over time generating a higher % of revenue from recurring/high-margin services revenue. Services drives the upside. We forecast Tesla’s network services EBITDA as a % of total TSLA EBITDA to reach 11% by 2025, ~18% by 2030 and ~35% by 2040. Tesla Service revenue includes automated driving, infotainment, upgrades, supercharging, maintenance, telematics, etc,” noted Adam Jonas, equity analyst at Morgan Stanley.

“Valuation supportive vs. tech. Including Network Services, Energy & Insurance to our core auto fcst, at $900 Tesla trades at ~29x EV/EBITDA in 2025 and ~6x 2025 sales. Expensive vs. auto but not vs. software/tech comps.”

LOCKHEED MARTIN: The Bethesda, Maryland-based global security and aerospace company is expected to report its second-quarter earnings of $6.53 per share, which represents year-over-year growth of about 13% from $5.79 per share seen in the same quarter a year ago.

The world’s largest defense contractor would post revenue growth of over 4% to around $16.9 billion. It is worth noting that the aerospace company has beaten earnings in all last eight quarters.

TAKE A LOOK AT OUR EARNINGS CALENDAR FOR THE FULL RELEASES FOR THE JULY 26

Ticker Company EPS Forecast
PSON Pearson £8.40
LMT Lockheed Martin $6.53
PHG Koninklijke Philips $0.47
CHKP Check Point Software Technologies $1.56
LII Lennox International $4.39
RPM RPM International $1.26
BOH Bank of Hawaii $1.31
DORM Dorman Products $1.04
TSLA Tesla $0.94
KOF Coca Cola Femsa Sab De Cv $14.53
ARE Alexandria Real Estate Equities $0.62
AMP Ameriprise Financial $5.20
SUI Sun Communities $0.57
BRO Brown & Brown $0.40
UHS Universal Health Services $2.69
PKG Packaging Of America $1.77
FFIV F5 Networks $2.46
AGNC American Capital Agency $0.65
ACC American Campus Communities -$0.07
AMKR Amkor Technology $0.45
CR Crane $1.39
ADC Agree Realty $0.47
SSD Simpson Manufacturing $1.61
AXTA Axalta Coating Systems $0.46
TNET TriNet $0.81
HXL Hexcel $0.01
RRC Range Resources $0.25
PCH Potlatch $2.55
JJSF J&J Snack Foods $0.76
IBTX Independent Bank $1.31
CATY Cathay General Bancorp $0.83
AIN Albany International $0.73
CALX Calix $0.27
IBA Industrias Bachoco Sab De Cv $1.22
ARI Apollo Commercial Real Est Finance $0.36
PPERY PT Bank Mandiri Persero TBK $0.18
CDNS Cadence Design Systems $0.76
OTIS Otis Worldwide Corp $0.72
RYAAY Ryanair -$1.46
HAS Hasbro $0.48
WWD Woodward $0.98
ACKAY Arcelik ADR $0.46
GT Goodyear Tire & Rubber $0.16
TTM Tata Motors -$0.31
CBU Community Bank System $0.80
SANM Sanmina $0.91
BDN Brandywine Realty $0.01
FRME First Merchants $0.91

Tuesday (July 27)

IN THE SPOTLIGHT: GOOGLE (ALPHABET), MICROSOFT, APPLE

GOOGLE (ALPHABET): The parent of Google and the world’s largest search engine that dominates internet search activity globally is expected to report its second-quarter earnings of $19.33 per share, which represents year-over-year growth of about 90% from $10.13 per share seen in the same quarter a year ago.

The Mountain View, California-based internet giant would post revenue growth of more than 45% to around $56.16 billion. It is worth noting that the company, on average, has delivered an earnings surprise of over 43% in the last four quarters.

Alphabet’s better-than-expected results, which will be announced on Tuesday, July 27, would help the stock hit new all-time highs. Alphabet shares surged more than 50% so far this year. On Friday, the stock closed at a fresh record high at $2,660.30, up 3.57%.

MICROSOFT: The Redmond, Washington-based global technology giant would report its fiscal fourth-quarter earnings of $1.91 per share, which represents year-over-year growth of over 30% from $1.46 per share seen in the same quarter a year ago. The world’s largest software maker would post revenue growth of over 15% to around $44.1 billion, up from the $38.03 billion a year earlier.

“Channel work and our CIO survey point to building momentum across the Cloud, Hybrid and On-premise portfolio, which should power a solid Q4. While investors seek reassurances margin expansion continues into FY22, our model suggests durable high-teens EPS growth and upside in the shares,” noted Keith Weiss, equity analyst at Morgan Stanley.

Microsoft’s better-than-expected results, which will be announced on Tuesday, July 27, would help the stock hit new all-time highs. Microsoft shares have surged more than 30% so far this year.

APPLE: The consumer electronics giant would post its fiscal third-quarter earnings of $1.01 per share, which represents year-over-year growth of over 55% from $0.65 per share seen in the same quarter a year ago.

The iPhone manufacturer would post revenue growth of over 20% to around $73.3 billion up from $59.69 billion a year earlier. It is worth noting that the company has beaten earnings in all last eight quarters.

TAKE A LOOK AT OUR EARNINGS CALENDAR FOR THE FULL RELEASES FOR THE JULY 27

Ticker Company EPS Forecast
SIRI Sirius XM $0.07
IEX IDEX $1.62
PCAR PACCAR $1.40
MMM 3M $2.29
MSCI Msci $2.31
ENPH Enphase Energy $0.42
LSXMK Liberty Media SiriusXM C $0.36
LSXMA Liberty Media SiriusXM A $0.48
CVLT Commvault Systems $0.52
LOGI Logitech Internationalusa $0.90
MXIM Maxim Integrated Products $0.85
ST Sensata Technologies $0.88
CNC Centene $1.22
UPS United Parcel Service $2.79
TRU TransUnion $0.91
SHW Sherwin-Williams $2.67
IVZ Invesco $0.70
FELE Franklin Electric $0.80
LW Lamb Weston Holdings Inc $0.42
IQV IQVIA Holdings Inc $2.07
RTX Raytheon Technologies Corp $0.93
ENTG Entegris $0.79
LECO Lincoln Electric $1.48
FISV Fiserv $1.28
DTE DTE Energy $1.36
GE General Electric $0.03
ROK Rockwell Automation $2.09
WM Waste Management $1.19
SWK Stanley Black & Decker $2.88
ADM Archer-Daniels Midland $1.02
HUBB Hubbell $2.16
PNR Pentair Ordinary Share $0.79
BSX Boston Scientific $0.37
ECL Ecolab $1.21
PPBI Pacific Premier Bancorp $0.71
GPK Graphic Packaging $0.28
PHM PulteGroup $1.73
AWI Armstrong World Industries $1.05
RGEN Repligen $0.52
SFNC Simmons First National $0.52
SSTK Shutterstock $0.68
ABG Asbury Automotive $4.60
MPWR Monolithic Power Systems $1.69
CHRW C.H. Robinson Worldwide $1.33
MANH Manhattan Associates $0.43
GOOG Alphabet $19.33
CB Chubb $3.00
AMD Advanced Micro Devices $0.54
PGRE Paramount Group -$0.05
SBUX Starbucks $0.77
CAKE Cheesecake Factory $0.72
EGP EastGroup Properties $0.67
AXS Axis Capital $1.42
WSBC WesBanco $0.75
HIW Highwoods Properties $0.33
STAG STAG Industrial $0.12
VIST Vista Oil Gas $0.15
NAVI Navient $0.85
EHC Encompass Health Corp $0.98
OMAB Grupo Aeroportuario Del Centro Nort $11.31
NOV National Oilwell Varco -$0.13
V Visa $1.34
GOOGL Alphabet $19.24
BXP Boston Properties $0.57
AAT American Assets $0.11
MSFT Microsoft $1.91
JNPR Juniper Networks $0.39
BYD Boyd Gaming $0.90
MASI Masimo $0.90
MTDR Matador Resources $0.75
CSGP CoStar $0.23
FIBK First Interstate BancSystem $0.72
OLN Olin $1.44
EQR Equity Residential $0.19
EXR Extra Space Storage $1.06
EPR EPR Properties $0.06
USNA USANA Health Sciences $1.72
THG Hanover $2.38
UMBF UMB Financial $1.75
CHE Chemed $4.29
SYK Stryker $2.13
MDLZ Mondelez International $0.65
MAT Mattel -$0.06
PFG Principal Financial $1.52
AAPL Apple $1.01
TER Teradyne $1.75
VIV Telefonica Brasil $0.13
ASH Ashland $1.31
GLW Corning $0.51
PII Polaris Industries $2.15
JBLU JetBlue Airways -$0.74
RDY Drreddys Laboratories $0.55
XRX Xerox $0.40
CIT CIT $0.86
SID Companhia Siderurgica Nacional $0.86
RNST Renasant $0.77

Wednesday (July 28)

IN THE SPOTLIGHT: FACEBOOK

The world’s largest online social network is expected to report its second-quarter earnings of $3.04 per share, which represents year-over-year growth of about 70% from $1.80 per share seen in the same quarter a year ago. The Menlo Park, California-based social media conglomerate would post revenue growth of over 49% to around $28.0 billion.

“Monetization Potential: We are positive on FB’s monetization roll-out of Instagram as well as FB’s ability to continue to innovate and improve its monetization (Canvas Ads, Dynamic Ads, video). Combined with the high and growing engagement we see monetization upside going forward,” noted Brian Nowak, equity analyst at Morgan Stanley.

“Investing from Position of Strength to Drive Faster Long-Term Growth: We are modeling ~33% GAAP opex (excl. one-time items) growth in 2021, implying an incremental ~$18bn in opex. Our base case model implies opex per employee moderates in ’21 while FB hiring remains roughly flat on an absolute basis. We believe FB will grow EPS at a ~39% CAGR (2019-2022).”

TAKE A LOOK AT OUR EARNINGS CALENDAR FOR THE FULL RELEASES FOR THE JULY 28

Ticker Company EPS Forecast
PTC PTC $0.63
URI United Rentals $4.90
ENSG Ensign $0.88
ALKS ALKERMES $0.12
TYL Tyler Technologies $1.63
AMG Affiliated Managers $3.85
SF Stifel Financial $1.38
FIX Comfort Systems USA $0.91
MSA MSA Safety $1.04
CBD Companhia Brasileira De Distrib $0.04
ALGT Allegiant Travel $2.55
GD General Dynamics $2.55
HES Hess $0.11
PFE Pfizer $0.97
QCOM Qualcomm $1.68
HP Helmerich & Payne -$0.56
UMC United Microelectronics $0.14
BA Boeing -$0.81
EQIX Equinix $1.87
DB Deutsche Bank $0.33
RJF Raymond James Financial $2.27
SAN Banco Santander $0.13
HNP Huaneng Power International $0.86
LRCX Lam Research $7.59
APH Amphenol $0.55
EVR Evercore Partners $2.71
PPC Pilgrim’s Pride $0.52
R Ryder System $1.38
NSC Norfolk Southern $2.97
FORM FormFactor $0.33
SHOO Steven Madden $0.31
SCI Service International $0.67
ADP ADP $1.14
MNRO Monro Muffler Brake $0.52
SLAB Silicon Laboratories $0.93
BXMT Blackstone Mortgage $0.60
PAG Penske Automotive $2.76
ROL Rollins $0.18
BCS Barclays $0.54
CAJ Canon $0.33
XLNX Xilinx $0.78
HUM Humana $6.82
AVY Avery Dennison $2.05
NYCB New York Community Bancorp $0.30
SCL Stepan $1.84
GSK Glaxosmithkline $0.55
CME CME $1.61
TEVA Teva Pharmaceutical Industries $0.59
MCD McDonalds $2.11
BSBR Banco Santander Brasil $0.20
EXP Eagle Materials $2.07
DT Dynatrace Holdings $0.15
EEFT Euronet Worldwide $0.65
SPOT Spotify -$0.38
OC Owens Corning $2.14
FMX Fomento Economico Mexicano Sab $14.29
BMY Bristol-Myers Squibb $1.89
VRTS Virtus Investment Partners $8.11
GRMN Garmin $1.26
SIX Swiss Exchange -$0.22
CCJ Cameco USA -$0.05
TDY Teledyne Technologies $2.70
IART Integra LifeSciences $0.66
GNRC Generac $2.30
MCO Moody’s $2.77
VRT Veritas Pharma $0.24
EPD Enterprise Products Partners $0.50
GIB CGI Group USA $1.08
TMO Thermo Fisher Scientific $5.47
TEL TE Connectivity $1.58
SLGN Silgan $0.83
PB Prosperity Bancshares $1.39
ODFL Old Dominion Freight Line $2.17
BG Bunge $1.62
LFUS Littelfuse $2.24
CNMD CONMED $0.62
CP Canadian Pacific Railway USA $1.00
AVB AvalonBay Communities $0.74
ALGN Align Technology $2.52
AM Antero Midstream Partners $0.19
CNO CNO Financial Group $0.54
CINF Cincinnati Financial $0.99
SSNC SS&C Technologies $1.14
MTH Meritage Homes $3.28
TTEK Tetra Tech $0.88
MKSI MKS Instruments $2.95
ROIC Retail Opportunity Investments $0.06
SIGI Selective $1.23
VAC Marriottacations Worldwide $0.89
PDM Piedmont Office Realty $0.05
IRBT Irobot $0.32
UDR UDR $0.01
EXAS Exact Sciences -$0.75
MOH Molina Healthcare $3.39
EQT EQT $0.04
MXL MaxLinear $0.50
IR Ingersoll Rand $0.42
AGI Alamos Gold $0.11
MAA Mid-America Apartment Communities $0.55
KGC Kinross Gold USA $0.13
ESRT Empire State Realty -$0.01
BSMX Santander Mexico Fincl Gp Sab Decv $0.17
CRUS Cirrus Logic $0.39
MUSA Murphy USA $3.21
RE Everest Re $8.58
VALE Vale $1.47
DRE Duke Realty $0.19
PYPL PayPal $1.12
NOW ServiceNow $1.21
CCS Century Communities $2.84
NLY Annaly Capital Management $0.27
TROX Tronox $0.52
XPO XPO Logistics $1.66
SAVE Spirit Airlines -$0.86
PAC Grupo Aeroportuario Del Pacifico $1.14
CHX ChampionX Corp $0.10
NUVA NuVasive $0.44
FBHS Fortune Brands Home Security $1.39
NOVA Nova Mentis Life Science Corp -$0.24
FB Facebook $3.04
ACGL Arch Capital $0.84
CONE CyrusOne $0.04
AR Antero Resources $0.20
AEM Agnico Eagle Mines USA $0.59
RBC Regal Beloit Corporation $2.07
PEGA Pegasystems -$0.18
AFL Aflac $1.28
PKI PerkinElmer $2.44
CHDN Churchill Downs $2.51
PEB Pebblebrook Hotel -$0.65
CTSH Cognizant Technology Solutions $0.96
HOLX Hologic $1.12
KRC Kilroy Realty $0.29
ALSN Allison Transmission $0.93
F Ford Motor -$0.04
ASGN On Assignment $1.29
HIG Hartford Financial Services $1.34
ORLY O’Reilly Automotive $7.51
ISBC Investors Bancorp $0.31

Thursday (July 29)

IN THE SPOTLIGHT: AMAZON.COM

The eCommerce leader for physical and digital merchandise is expected to report its second-quarter earnings of $12.24 per share, which represents year-over-year growth of about 19% from $10.3 per share seen in the same quarter a year ago.

The Seattle, Washington-based multinational technology giant would post revenue growth of about 29% to around $115 billion. The company has beaten earnings per share (EPS) estimates at all times in the last four quarters.

TAKE A LOOK AT OUR EARNINGS CALENDAR FOR THE FULL RELEASES FOR THE JULY 29

Ticker Company EPS Forecast
RLGY Realogy $1.08
VSTO Vista Outdoor $0.90
AGCO AGCO $2.20
PCG PG&E $0.28
MATX Matson $2.96
PRFT Perficient $0.79
NATI National Instruments $0.05
GPI Group 1 Automotive $7.59
CFX Colfax $0.53
CMS CMS Energy Corporation $0.46
LYG Lloyds Banking $0.14
MHK Mohawk Industries $3.59
EBS Emergent BioSolutions $1.41
TXT Textron $0.65
AUOTY AU Optronics $0.56
CMCSA Comcast $0.66
VLO Valero Energy $0.17
CG Carlyle $0.60
ABEV Ambev $0.02
NLSN Nielsen $0.36
MTD Mettler Toledo International $7.62
ADS Alliance Data Systems $3.68
FTNT Fortinet $0.88
FTV Fortive Corp $0.60
ASX Advanced Semiconductor Engineering $0.16
LKQ LKQ $0.75
ERJ Embraer -$0.26
TFX Teleflex $2.87
CARR Carrier Global Corp $0.55
CX Cemex Sab De Cv $0.16
ORAN Orange $0.18
CVE Cenovus Energy USA $0.26
MT Arcelormittal $2.52
MA Mastercard $1.74
KBR KBR $0.50
HOCPY Hoya Corp $0.85
YUM Yum Brands $0.96
EIX Edison International $1.02
EME EMCOR $1.58
AGIO Agios Pharmaceuticals -$1.35
KPELY Keppel Corporation $0.18
BUD Anheuser-Busch $0.87
CS Credit Suisse $0.22
DANOY Danone PK $0.45
SNY Sanofi $0.77
AZN Astrazeneca $0.45
TEF Telefonica $0.14
STM Stmicroelectronics $0.37
GRFS Grifolsbarcelona $0.26
THRM Gentherm $0.65
WWW Wolverine World Wide $0.49
CNX Consol Energy $0.24
CBRE CBRE Group Inc $0.77
TAP Molson Coors Brewing $1.35
VC Visteon $0.05
KEX Kirby $0.14
TREE LendingTree -$0.63
SAH Sonic Automotive $1.38
HSY Hershey $1.42
AMT American Tower $1.27
TW Towers Watson $0.39
OSK Oshkosh $2.25
MAS Masco $1.04
MO Altria $1.18
TROW T. Rowe Price $3.19
CTXS Citrix Systems $1.22
SPGI S&P Global Inc $3.26
BAX Baxter International $0.75
ICE Intercontinental Exchange $1.16
SO Southern Co. $0.79
NTCT Netscout Systems $0.18
GOL Gol Linhas Aereas Inteligentes -$0.91
CFR Cullen/Frost Bankers $1.56
CWT California Water Service $0.41
FSS Federal Signal $0.45
AER AerCap $1.37
COLB Columbia Banking System $0.66
COR CoreSite Realty $0.45
WEX WEX $1.95
TMHC Taylor Morrison Home $0.96
XEL Xcel Energy $0.56
FLEX Flextronics International $0.38
SAIA Saia $2.05
OSTK Overstock $0.67
IDA IdaCorp $1.21
FCN FTI Consulting $1.52
LAWS Lawson Products $0.60
WST West Pharmaceutical Services $1.74
MLM Martin Marietta Materials $3.85
MTSI MACOM Technology Solutions $0.53
LH Laboratory Of America $5.62
EXLS ExlService $1.01
BSAC Banco Santander Chile $0.50
AOS A.O. Smith $0.65
TPX Tempur Sealy International $0.56
HBAN Huntington Bancshares $0.32
WAB Westinghouse Air Brake Technologies $0.96
NOC Northrop Grumman $5.83
MMP Magellan Midstream Partners $1.02
HLT Hilton Worldwide $0.39
KDP Keurig Dr Pepper $0.37
OMCL Omnicell $0.82
BC Brunswick $2.14
MRK Merck & Co $1.40
TRP Transcanada USA $0.77
KIM Kimco Realty $0.12
IP International Paper $1.06
MDC MDC $1.99
PRLB Proto Labs $0.44
SGEN Seattle Genetics -$0.61
CPT Camden Property $0.34
SIMO Silicon Motion Technology $1.25
CUBE CubeSmart $0.21
DLB Dolby Laboratories $0.28
BIO Bio-Rad Laboratories $2.66
CC Chemours Co $0.94
ZEN Zendesk $0.16
FWRD Forward Air $0.97
AJG Arthur J. Gallagher $1.08
SPSC SPS Commerce $0.40
ROG Rogers $1.89
ERIE Erie Indemnity $1.51
CUZ Cousins Properties $0.20
WELL Welltower Inc $0.15
PTCT PTC Therapeutics -$1.81
AUY Yamana Gold USA $0.06
LPLA LPL Financial $1.67
WWE World Wrestling Entertainment $0.25
WRE Washington Real Estate Investment -$0.04
TXRH Texas Roadhouse $0.98
ATR AptarGroup $0.97
GLPI Gaming And Leisure Properties $0.57
OFC Orate Office Properties $0.14
RSG Republic Services $0.95
TEX Terex $0.60
X United States Steel $3.08
LBTYA Liberty Global Class A Ordinary Shares $0.46
KLAC KLA-Tencor $3.99
SWKS Skyworks Solutions $2.14
DXCM Dexcom $0.44
HUBG HUB $0.70
VCYT Veracyte -$0.25
POWI Power Integrations $0.75
LGND Ligand Pharmaceuticals $1.38
FHI Federated Hermes Inc $0.66
FSLR First Solar $0.55
CWST Casella Waste Systems $0.24
DLR Digital Realty $0.24
MTX Minerals Technologies $1.25
VRTX Vertex Pharmaceuticals $2.37
PFPT Proofpoint $0.49
ESS Essex Property $0.88
GILD Gilead Sciences $1.73
WERN Werner $0.87
MMSI Merit Medical Systems $0.45
LBTYK LIBERTY GLOBAL $0.46
AMZN Amazon $12.24
QGEN Qiagen $0.65
EW Edwards Lifesciences $0.55
NRZ New Residential Investment $0.31
MSTR Microstrategy $0.81
SM SM Energy -$0.26
SWN Southwestern Energy $0.21
TMUS T-Mobile Us $0.51
DECK Deckers Outdoor -$0.15
CORT Corcept Therapeutics $0.17
TWOU 2U -$0.16
SBH Sally Beauty $0.62
MPW Medical Properties $0.29
CACC Credit Acceptance $10.36
SJW SJW $0.64
SHEN Shenandoah Telecommunications $0.86
ES Eversource Energy $0.80
KMPR Kemper $1.33
WRI Weingarten Realty Investors $0.10
OPK Opko Health $0.02
SU Suncor Energy USA $0.39
APELY Alps Electric $0.11
ACI AltaGas Canada $0.69
EXPO Exponent $0.42

Friday (July 30)

Ticker Company EPS Forecast
KMTUY Komatsu $0.40
VFC VF $0.11
ABR Arbor Realty $0.42
PEXNY PTT Exploration & Production $0.16
LAZ Lazard $0.89
HRC Hill-Rom $1.35
XOM Exxon Mobil $1.00
COG Cabot Oil Gas $0.29
MFG Mizuho Financial $0.08
GCTAY Siemens Gamesa ADR $0.02
TU Telus USA $0.21
JCI Johnson Controls $0.83
CL Colgate-Palmolive $0.80
BAH Booz Allen Hamilton $0.97
TOTDY Toto $0.25
ASEKY Aisin Seiki Co $1.13
BBVA Banco Bilbaoizcaya Argentaria $0.06
E ENI $0.33
FMS Fresenius Medical Care $0.48
SMFG Sumitomo Mitsui Financial $0.21
SBGSY Schneider Electric SA $0.63
PG Procter & Gamble $1.09
CHD Church Dwight $0.70
ALNPY ANA Holdings ADR -$0.20
CVX Chevron $1.58
BNPQY BNP Paribas ADR $1.07
NMR Nomura $0.17
CHT Chunghwa Telecom $0.34
HUN Huntsman $0.81
LIN Linde PLC $2.55
AON AON $1.85
PNM PNM Resources $0.46
CAT Caterpillar $2.41
CPRI Capri Holdings Ltd $0.79
BLMN Bloomin’ Brands $0.66
CHTR Charter Communications $4.79
DAN Dana $0.50
ITW Illinois Tool Works $2.09
GWW Grainger $4.59
CERN Cerner $0.76
NWL Newell Brands Inc $0.45
POR Portland General Electric $0.37
ENB Enbridge USA $0.45
LYB LyondellBasell Industries $5.30
ABBV AbbVie $3.08
SHLX Shell Midstream Partners $0.35
WPC W. P. Carey $0.56
AVNT Avient Corp $0.81
WY Weyerhaeuser $1.37
IDXX Idexx Laboratories $2.02
BCPC Balchem $0.82
For a look at all of today’s economic events, check out our economic calendar.