CFRA Upgrades Rating On Shares Of Spotify Technology S.a. To Buy From Hold

/ / Consumer Discretionary /

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We think the current share price is an attractive entry point to buy SPOT with the shares pulling back from this week’s high. Our target price is $325 using a forward P/E of 67.0x our 2024 earnings estimate, below the five-year historic average of 78.0x. On April 23, we increased our 2024 EPS estimate to EUR4.85 from EUR2.40 and 2025’s to EUR6.30 from EUR3.95 per share. We think SPOT can grow profitably with higher unit volumes and widening margins. Our revenue forecast is EUR15.8B in 2024 and EUR17.6B in 2025 vs. EUR13.2B in 2023. Gross margins ended Q1 2024 at 27.6%, +90 bps Q/Q, with more cost discipline and one-time restructuring charges. We see 2024 gross margins at 28.0%-29.5%. We like the music streaming market’s attractive growth […]

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CFRA Maintains Buy View On Shares Of Chipotle Mexican Grill, Inc.

/ / Consumer Discretionary /

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We lift our 12-month target to $3,700 from $2,930, 66.0x our 2024 EPS, a premium to CMG’s five-year average forward P/E, reflecting CMG’s outsized growth relative to peers. We raise our 2024 EPS to $56.04 from $54.12 and 2025’s to $66.35 from $65.10. CMG posted Q1 adj-EPS of $13.37, $1.69 above consensus. Revenue of $2,702M (+14.1% Y/Y) was $31M above consensus. Operating income rose 20.0% Y/Y to $441M vs. the $412M consensus, with the margin widening 80 bps Y/Y to 16.3%. Comp sales rose 7.0% vs. the 5.3% consensus, driven by transactions growth (~5.5%) and higher menu pricing (~2.8%), partially offset by negative mix and check. CMG raised its 2024 comp sales guidance to the mid- to high-single-digit range as staffing, scheduling, and execution of its “four

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Alert: CFRA Keeps Buy Recommendation On Shares Of S&p Global Inc.

/ / Financials /

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We decrease our 12-month target price by $20 to $510, a forward P/E of 31.2x our 2025 earnings estimate, a premium to the peer average of 23.3x given higher recurring revenue and expectations for outsized growth. We increase our 2024 EPS by $0.16 to $14.69 and reduce 2025’s by $0.18 to $16.35. SPGI posted Q1 adjusted EPS of $4.01 vs. $3.15 a year ago, a $0.35 earnings beat. It was an excellent quarter for SPGI as revenue growth accelerated to 10% from 7% in the previous quarter. Leading the way was the Ratings segment (+29% Y/Y) as favorable market conditions led to a 45% surge in billed issuance. Although management improved its 2024 Ratings guidance by 100 bps to 7%-9%, we continue to see an upside as

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Intel Reports First-Quarter 2024 Financial Results

/ / Technology /

Intel Reports First-Quarter 2024 Financial Results NEWS SUMMARY — First-quarter revenue of $12.7 billion, up 9% year over year (YoY). — First-quarter GAAP earnings (loss) per share (EPS) attributable to Intel was $(0.09); non-GAAP EPS attributable to Intel was $0.18. — Forecasting second-quarter 2024 revenue of $12.5 billion to $13.5 billion; expecting second-quarter EPS of $(0.05); non-GAAP EPS of $0.10. SANTA CLARA, Calif.–(BUSINESS WIRE)–April 25, 2024– Intel Corporation today reported first-quarter 2024 financial results. “We are making steady progress against our priorities and delivered a solid quarter,” said Pat Gelsinger, Intel CEO. “Strong innovation across our client, edge and data center portfolios drove double-digit revenue growth in Intel Products. With Intel 3 in high-volume production, leading-edge semiconductors are being manufactured in the U.S. for the first time in almost a decade and we are on track to regain process leadership next year as we grow Intel Foundry. We are confident

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Alphabet Q1 2024 GAAP EPS $1.89 Beats $1.51 Estimate, Sales $80.539B Beat $78.594B Estimate

/ / Technology /

Alphabet (NASDAQ:GOOG) reported quarterly earnings of $1.89 per share which beat the analyst consensus estimate of $1.51 by 25.17 percent. The company reported quarterly sales of $80.539 billion which beat the analystAlphabet (NASDAQ:GOOG) reported quarterly earnings of $1.89 per share which beat the analyst consensus estimate of $1.51 by 25.17 percent. The company reported quarterly sales of $80.539 billion which beat the analyst consensus estimate of $78.594 billion by 2.47 percent. This is a 15.41 percent increase over sales of $69.787 billion the same period last year.

Alphabet Q1 2024 GAAP EPS $1.89 Beats $1.51 Estimate, Sales $80.539B Beat $78.594B Estimate Read Post »

Intel Sees Q2 EPS $0.10 Vs $0.24 Est.; Revenue $12.5B-$13.5B Vs $12.68B Est.

/ / Technology /

Business Outlook Intel’s guidance for the second quarter of 2024 includes both GAAP and non-GAAP estimates. Reconciliations between GAAP and non-GAAP financial measures are included below. Q2 2024 GAAP Non-GAAP Revenue $12.5-13.5 billion Gross Margin 40.2% 43.5% Tax Rate 61% 13% Earnings (Loss) Per Share Attributable to Intel—Diluted $(0.05) $0.10 Actual results may differ materially from Intel’s business outlook as a result of, among other things, the factors described under “Forward-Looking Statements” below. The gross margin and EPS outlook are based on the mid-point of the revenue range.

Intel Sees Q2 EPS $0.10 Vs $0.24 Est.; Revenue $12.5B-$13.5B Vs $12.68B Est. Read Post »

CFRA Reiterates Hold Opinion On Shares Of Southwest Airlines Co.

/ / Consumer Discretionary /

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We cut our 12-month target by $2 to $28, 24.3x our 2025 EPS view of $1.15 (from $1.51; 2024’s to $0.79 from $1.05), below LUV’s historical average. We think a discount is merited due to ongoing issues with Boeing (BA 164 **), causing further delays in new aircraft deliveries (LUV expects 20 aircraft deliveries in 2024 vs. prior guide of 46), which could cause unit costs to rise, in our view. Q1 LPS of -$0.36 vs. LPS of -$0.27 missed consensus by $0.02. Revenues grew 11% Y/Y on 11% capacity growth. LUV revised its 2024 guide, with capacity now expected to grow by 4% (vs. prior 6%) due to delays in aircraft deliveries. LUV noted today that it plans to end operations at four airports (Hancock Int’l,

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Alphabet Q1 Earnings, Revenue Jump; Shares Surge After Hours

/ / Technology /

Alphabet (GOOG) reported Q1 earnings late Thursday of $1.89 per diluted share, up from $1.17 a year earlier. Analysts polled by Capital IQ expected $1.51. Revenue in the quarter ended March 31 rose to $80.5 billion from $69.8 billion a year earlier. Analysts surveyed by Capital IQ expected $78.7 billion. Shares of the company surged 12% in after-hours activity.

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Intel Q1 Swings to Profit, Revenue Increases, Sets Q2 Outlook — Shares Slump

/ / Technology /

Intel (INTC) reported Q1 non-GAAP net income Thursday of $0.18 per share, compared with a loss of $0.04 a year earlier. Analysts polled by Capital IQ expected $0.14. Net revenue for the quarter ended March 30 was $12.72 billion, up from $11.72 billion a year earlier. Analysts surveyed by Capital IQ expected $12.78 billion. Intel is projecting Q2 non-GAAP EPS of $0.10 per share on revenue between $12.5 billion and $13.5 billion. Analysts polled by Capital IQ expect earnings of $0.26 per share on revenue of $13.59 billion. The company’s board kept the quarterly dividend at $0.125 per share, payable on June 1 to shareholders of record on May 7. Intel shares were down more than 8% in recent after-hours activity.

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Alphabet’s Stock Surges on Triple Crown of First-ever Cash Dividend, $70 Billion Stock Buyback, Strong Results

/ / Technology /

By Jon Swartz Google parent Alphabet Inc.’s stock initially soared 14% in after-hours trading Thursday following huge spikes in revenue and net income that trounced analysts’ predictions – as well as its first-ever cash dividend of 20 cents per share. Alphabet’s board also authorized the repurchase of up to $70 billion in shares. The search-engine powerhouse reported a jump in first-quarter sales, chiefly through advertising, for total revenue of $80.54 billion, up 15% from $69.8 billion a year ago. Sales minus total acquisition costs (TAC) came in at $67.59 billion, compared with $58.07 billion a year ago. Alphabet (GOOGL) (GOOG) reported first-quarter net income of $23.66 billion, or $1.89 a share, compared with net income of $15.05 billion, or $1.17 a share, in the year-ago quarter. “Our results in the first quarter reflect strong performance from Search, YouTube and Cloud. We are well under way with our Gemini era and

Alphabet’s Stock Surges on Triple Crown of First-ever Cash Dividend, $70 Billion Stock Buyback, Strong Results Read Post »

KLA Fiscal Q3 Non-GAAP Earnings, Revenue Decline; Fiscal Q4 Outlook Set

/ / Technology /

KLA (KLAC) reported fiscal Q3 non-GAAP net income late Thursday of $5.26 per diluted share, down from $5.49 a year earlier. Analysts polled by Capital IQ expected $5.06. Revenue for the quarter ended March 31 was $2.36 billion, down from $2.43 billion a year earlier. Analysts surveyed by Capital IQ expected $2.32 billion. For fiscal Q4, the company is projecting non-GAAP EPS of $5.47 to $6.67 on revenue of $2.38 billion to $2.63 billion. Analysts polled by Capital IQ are looking for $5.72 and $2.43 billion, respectively.

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Roku Warns of Tougher Bar for Growth Ahead, but Sales Forecast Tops Estimates

/ / Telecommunications /

TV-streaming service Roku Inc. (ROKU) on Thursday forecast second-quarter sales that were above expectations, but warned of a higher bar for growth up ahead and moderating profit in the second half of the year. Roku said it expected second-quarter sales of $935 million, above FactSet estimates for $926 million. But executives said that “Looking ahead, we face difficult year-over-year growth rate comparisons within streaming-service distribution activities. This headwind is due to past price increases and a higher mix shift toward ad-supported offerings.” Roku reported first-quarter sales of $882 million, up 19% year over year, with a net loss per share of 35 cents. Both were better than expected. Shares were up 2.6% after hours.

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