CFRA Lifts View Of Shares Of Schlumberger Limited To Buy From Hold

/ / Energy /

Our 12-month target of $56, up $3, reflects an 8.6x multiple of EV to projected 2025 EBITDA, slightly below SLB’s historical average. We think a discount is merited due to SLB having around $2.1B in debt maturing by 2025. We cut our 2024 EPS view by $0.01 to $3.53, but lift 2025’s by $0.54 to $4.23. While we think that SLB could face crude oil headwinds with Middle East customers (most notably Saudi Arabia) in the near term, we think that there are long-term tailwinds that SLB could benefit from within Saudi Arabia as the Kingdom looks to grow its natural gas output by 60% from 2021 levels by 2030, which could lead to an uptick in demand for SLB’s services, in our view, given its historic success in the region. In addition, we see near-term opportunities for SLB with respect to carbon capture and sequestration (CCS), as the company […]

CFRA Lifts View Of Shares Of Schlumberger Limited To Buy From Hold Read Post »

Netflix Has Won Streaming Wars, Next Stage Will Be Ad Revenue Growth, Wedbush Says

/ / Consumer Discretionary /

Netflix (NFLX) has a “virtually insurmountable lead in the streaming wars” and it’s now positioning itself to increase advertising revenue, Wedbush said Monday in a note to clients. The streaming giant’s rivals will likely “continue to flail while trying to replicate Netflix’s business model,” said Wedbush analysts including Alicia Reese. Meanwhile, the company’s “advertising tier should reap benefits for several years,” the analysts said. “The biggest benefit of the ad tier so far is that it limits churn,” the note said. “Netflix is positioning to accelerate ad tier revenue contribution into year-end and 2025 as it improves its advertising solutions and targeting, expands partnerships, and adds more live events.” The company has “reached the right formula with global content creation, balancing costs, and increasing profitability,” the analysts said, adding the company will likely “continue to expand profitability and generate increasing free cash flow.” Catalysts for the company include the “full

Netflix Has Won Streaming Wars, Next Stage Will Be Ad Revenue Growth, Wedbush Says Read Post »

TikTok Review Turns Up Heat on Chipotle

/ / Consumer Discretionary /

Chipotle Mexican Grill’s new TikTok critic has some investors worried. Chipotle partnered with TikTok food reviewer Keith Lee last year over a so-called ordering hack he popularized. But Lee last week posted a video in which he slammed the fast-casual chain for what he viewed as small portion sizes and lacking flavor. That post went viral, garnering over 14M views, prompting some investor concern about backlash. Wedbush analysts Nick Setyan and Michael Symington note the worries and say their checks suggest there hasn’t been a major effect on sales and traffic. Investor concerns follow recent internet-fueled backlash at Planet Fitness and Bud Light.

TikTok Review Turns Up Heat on Chipotle Read Post »

Snowflake Likely to Beat First-Quarter Revenue Views, RBC Say

/ / Technology /

Snowflake (SNOW) is tracking toward a modest fiscal first-quarter revenue beat and positive guidance revisions amid potential product sales upside, RBC Capital Markets said in a note emailed Monday. The brokerage said markets are assuming 2% to 3% upside to the first-quarter consensus for total revenue of $787 million and product revenue of $744 million. They both imply year-over-year growth of 26%. Shares of Snowflake were up 1.5% in afternoon trade. The cloud-based data analytics platform topped product expectations by an average of 2.9% over the last four quarters, according to RBC’s analysis. A 2.5% beat in the May 22 report would imply product revenue closer to $762 million, a year-over-year gain of 29%, according to RBC. RBC is modeling for first-quarter total revenue of $784.5 million and adjusted earnings per share of $0.15, compared with the $0.17 average analyst estimate on Capital IQ. “We see a better setup this

Snowflake Likely to Beat First-Quarter Revenue Views, RBC Say Read Post »

CFRA Reiterates Buy Opinion On Shares Of Jpmorgan Chase & Co.

/ / Financials /

There were no big surprises at today’s Investor Day, but the event underscored JPM’s market leadership and the depth/breadth of its management. JPM raised its NII forecast by $1B to $91B in ’24, and interest rate trends do not appear to be a disruptor to underlying loan volume with rates higher for longer to a soft landing. We keep our $215 target on a forward P/E of 13.0x, above the five-year average at 12.3x. Higher valuation may be supported by the bank’s ability to capitalize on its lead market position, the size of its balance sheet, and its ability to innovate and drive future growth. Investor Day demonstrated how JPM is using technology, including AI and other applications, to drive product innovation, streamline work processes, and realize higher organic revenue outpacing expense growth. JPM was low key about a rebound in investment banking, which is a cornerstone of our Buy

CFRA Reiterates Buy Opinion On Shares Of Jpmorgan Chase & Co. Read Post »

Dimon’s Comments Are a Rarity; JPMorgan Will Limit Buybacks at Higher Prices — Barrons.com

/ / Financials /

By Andrew Bary JPMorgan Chase CEO Jamie Dimon’s frank talk on stock repurchases Monday is rare for a corporate leader but ought to be heeded by his fellow corporate chieftains. At the company’s investor day, Dimon said the company would limit its stock repurchases given the elevated price of the JPMorgan stock. “We’re not going to buy back a lot of stock at these prices,” Dimon told attendees at the investor day. JPMorgan stock has returned about 45% over the past year and recently hit a record high. “We’ve been very, very consistent,” Dimon said. “When the stock goes up, we’ll buy less and when it comes down, we’ll buy more,” he added. Dimon’s view is espoused publicly by few CEOs save for Berkshire Hathaway’s Warren Buffett. Companies regularly repurchase stock regardless of price. Why? CEOs may truly believe their shares are undervalued even at high prices or they are

Dimon’s Comments Are a Rarity; JPMorgan Will Limit Buybacks at Higher Prices — Barrons.com Read Post »

Palo Alto Networks tumbles following billings guidance despite solid Q3 results

/ / Technology /

Palo Alto Networks’ (NASDAQ:PANW) third-quarter fiscal year 2024 financial results bested market expectations, but stocks sunk during post-market trading on lowered billings’ guidance. The Santa Clara, Calif.-based cybersecurity company tumbled 8% after its latest financial results and outlook was issued after the market closed on Monday. For the quarter, Palo Alto reported non-GAAP earnings per share of $1.32 versus the consensus of $1.25 and total revenue of $2B versus the consensus of $1.97B. Looking ahead, Palo Alto Networks expects fourth quarter earnings per share of $1.40 to $1.42, which is nearly in-line with the estimate of $1.42. Total revenue expectations for the quarter range from $2.15B to $2.17B, which is also close to the estimate of $2.17B. Billings for fiscal year 2024 are now expected to range from $10.13B to $10.18B, which represents year-over-year growth of 10% to 11%. In February, the company lowered its full-year revenue and slashed its FY24E billings guide

Palo Alto Networks tumbles following billings guidance despite solid Q3 results Read Post »

JPMorgan: Dimon Didn’t Mean No Stock Buybacks — WSJ

/ / Financials /

JPMorgan Chase shares fell 4.5% on Monday, not the kind of reception it usually hopes to get on its annual investor day. One contributor: Chief Executive Jamie Dimon implied the shares had gotten so high he didnt want to buy back any more shares. Later Monday, the bank looked to clarify Dimons comments. A JPMorgan spokesman said that Dimon’s comments on buybacks referred to additional repurchases of stock beyond the pace at which the bank is already buying back stock. Not that the bank is stopping all repurchases. Indeed, JPMorgan’s chief financial officer said the bank is increasing how much it buys back from shareholders, totaling over $2 billion of repurchases every quarter.

JPMorgan: Dimon Didn’t Mean No Stock Buybacks — WSJ Read Post »

AT&T Says Confident in Delivering Financial Guidance

/ / Telecommunications /

AT&T (T) said late Monday that the company remains confident in its ability to deliver on all of the financial guidance shared during its earnings report in April. The firm said it also remains focused on driving incremental efficiencies through its goal of $2 billion+ in run-rate cost savings by mid-2026, and is on track to achieve net-debt to adjusted EBITDA in the 2.5x range in the first half of 2025.

AT&T Says Confident in Delivering Financial Guidance Read Post »

Ryanair Holdings plc (RYAAY) Q4 2024 Earnings Call Transcript

/ / Consumer Discretionary /

Ryanair Holdings plc (NASDAQ:RYAAY) Q4 2024 Results Conference Call May 20, 2024 5:00 AM ET Company Participants Michael O’Leary – CEO Neil Soraha – CFO Peter Larkin – Head of IR Michael O’Leary All right. So good morning, ladies and gentlemen. Welcome to the Ryanair Full Year Results. I’m Michael O’Leary, the Group CEO. And I’m joined this morning by Neil Sorahan, the Group CFO. Earlier this morning, we published the full year results for the last 12 months ended 31 March, 2024. In that, we recorded a full year profit after tax growth of 34% to an after tax profit of €1.92 billion as traffic grew 9% to 184 million passengers, which is 20% — 23% more than our pre-COVID traffic. The highlights for the last 12 months, start off with the traffic growth of 9% to 184 million passengers. It would have been slightly higher, but for the

Ryanair Holdings plc (RYAAY) Q4 2024 Earnings Call Transcript Read Post »

Target Announces Lower Prices for 5,000 Popular Items Heading Into Holiday Weekend

/ / Consumer Discretionary /

By Ciara Linnane Shoppers can expect more bargains for July 4 and the back-to-school and back-to-college seasons Target Corp. announced lower prices on about 5,000 frequently shopped items on Monday, with plans to cut the the price of thousand more items over the course of the summer. The retailer is competing with its bigger competitor Walmart Inc. (WMT) on price at a time when Americans are struggling with inflationary pressures that has raised the price of food, housing and other essentials. “We know consumers are feeling pressured to make the most of their budget, and Target (TGT) is here to help them save more,” said Rick Gomez, executive vice president and chief food, essentials and beauty officer, at Target. The retailer has already cut the price of about 1,500 items heading into the Memorial Day holiday weekend and said shoppers can expect more bargains for July 4 and the back-to-school

Target Announces Lower Prices for 5,000 Popular Items Heading Into Holiday Weekend Read Post »

Ryanair Shares Weighed by Prospect of Ticket Fare Cuts

/ / Consumer Discretionary /

Ryanair’s shares are being weighed down by concerns about the low-cost carrier’s ticket pricing, AJ Bell analyst Danni Hewson says in a note to clients. Even if inflationary pressures are easing, customers remain cautious, which could affect the numbers of passengers on Ryanair flights after the summer, the analyst says. The company said that recent ticket prices were softer than it had previously expected, adding that its first quarter would require more so-called price stimulation than the previous year. “It might seem counterintuitive that Ryanair’s share price is enduring a bit of turbulence after the low-cost airline announced record passenger numbers and profits, but the prospect that ticket price cuts might be on the way has subdued sentiment,” the analyst says. Shares trade down 1.3% at EUR18.10.

Ryanair Shares Weighed by Prospect of Ticket Fare Cuts Read Post »

Scroll to Top