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2024-11-21 | ETF Daily News | Golub Capital BDC (NASDAQ:GBDC) Announces Quarterly Earnings Results, Beats Expectations By $0.02 EPS | Golub Capital BDC (NASDAQ:GBDC–Get Free Report) issued its quarterly earnings results on Monday. The investment management company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.48 by $0.02,MarketWatch Earningsreports. Golub Capital BDC had a return on equity of 10.57% and a net margin of 29.59%. During the same quarter in the previous year, the firm earned $0.33 earnings per share. Shares ofGolub Capital BDC stockopened at $15.01 on Tuesday. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.67 and a quick ratio of 1.67. The business has a fifty day simple moving average of $14.45 and a two-hundred day simple moving average of $14.00. Golub Capital BDC has a 1 year low of $12.27 and a 1 year high of $15.10. The company has a market capitalization of $2.55 billion, a price-to-earnings ratio of 15.47 and a beta of 0.61. Institutional investors and hedge funds have recently modified their holdings of the stock. The Manufacturers Life Insurance Company bought a new stake in shares of Golub Capital BDC during the 3rd quarter worth about $320,000. Royal Bank of Canada lifted its position in Golub Capital BDC by 24.6% during the third quarter. Royal Bank of Canada now owns 61,929 shares of the investment management company’s stock worth $908,000 after acquiring an additional 12,229 shares during the last quarter. Schonfeld Strategic Advisors LLC bought a new stake in shares of Golub Capital BDC during the third quarter worth approximately $428,000. Qube Research & Technologies Ltd grew its position in shares of Golub Capital BDC by 141.3% in the third quarter. Qube Research & Technologies Ltd now owns 56,120 shares of the investment management company’s stock valued at $823,000 after purchasing an additional 32,859 shares during the last quarter. Finally, Northern Trust Corp increased its stake in shares of Golub Capital BDC by 19.4% during the third quarter. Northern Trust Corp now owns 90,687 shares of the investment management company’s stock worth $1,330,000 after purchasing an additional 14,705 shares during the period. 40.82% of the stock is currently owned by institutional investors and hedge funds. Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverA number of brokerages have recently issued reports on GBDC. Oppenheimer upped their price objective on Golub Capital BDC from $15.00 to $16.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 9th.StockNews.comstarted coverage on shares of Golub Capital BDC in a research report on Thursday, October 5th. They set a “hold” rating on the stock. Raymond James raised shares of Golub Capital BDC from a “market perform” rating to an “outperform” rating and set a $15.50 price objective for the company in a research report on Wednesday, August 9th. Finally, Wells Fargo & Company upped their target price on shares of Golub Capital BDC from $13.00 to $15.00 and gave the company an “equal weight” rating in a report on Wednesday, August 9th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $15.50. View Our Latest Analysis on Golub Capital BDC (Get Free Report) Golub Capital BDC, Inc (GBDC) is a business development company and operates as an externally managed closed-end non-diversified management investment company. It invests in debt and minority equity investments in middle-market companies that are, in most cases, sponsored by private equity investors. |
2024-11-21 | ETF Daily News | William Blair Investment Management LLC Reduces Stake in Kosmos Energy Ltd. (NYSE:KOS) | William Blair Investment Management LLC decreased its stake in shares of Kosmos Energy Ltd. (NYSE:KOS–Free Report) by 33.4% during the second quarter,HoldingsChannel.comreports. The firm owned 10,139,062 shares of the oil and gas producer’s stock after selling 5,081,035 shares during the period. William Blair Investment Management LLC’s holdings in Kosmos Energy were worth $60,733,000 at the end of the most recent reporting period. A number of other institutional investors have also added to or reduced their stakes in the stock. Captrust Financial Advisors lifted its holdings in Kosmos Energy by 50.1% during the 1st quarter. Captrust Financial Advisors now owns 4,394 shares of the oil and gas producer’s stock worth $32,000 after purchasing an additional 1,467 shares in the last quarter. Advisory Services Network LLC lifted its holdings in Kosmos Energy by 5.8% during the 1st quarter. Advisory Services Network LLC now owns 27,425 shares of the oil and gas producer’s stock worth $197,000 after purchasing an additional 1,500 shares in the last quarter. Metropolitan Life Insurance Co NY lifted its holdings in Kosmos Energy by 6.8% during the 2nd quarter. Metropolitan Life Insurance Co NY now owns 24,755 shares of the oil and gas producer’s stock worth $148,000 after purchasing an additional 1,568 shares in the last quarter. Royal Bank of Canada lifted its holdings in Kosmos Energy by 5.1% during the 1st quarter. Royal Bank of Canada now owns 33,606 shares of the oil and gas producer’s stock worth $241,000 after purchasing an additional 1,618 shares in the last quarter. Finally, Parkside Financial Bank & Trust raised its holdings in shares of Kosmos Energy by 33.0% in the 1st quarter. Parkside Financial Bank & Trust now owns 7,054 shares of the oil and gas producer’s stock valued at $52,000 after acquiring an additional 1,750 shares in the last quarter. Hedge funds and other institutional investors own 91.24% of the company’s stock. Shares ofNYSE KOSopened at $6.92 on Tuesday. The stock has a market cap of $3.18 billion, a price-to-earnings ratio of 43.75, a P/E/G ratio of 0.67 and a beta of 2.62. The company has a current ratio of 0.82, a quick ratio of 0.54 and a debt-to-equity ratio of 2.39. Kosmos Energy Ltd. has a 1-year low of $5.28 and a 1-year high of $8.55. The stock’s 50-day moving average is $7.32 and its 200 day moving average is $6.87. Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverKosmos Energy (NYSE:KOS–Get Free Report) last announced its quarterly earnings data on Sunday, November 5th. The oil and gas producer reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.05. Kosmos Energy had a return on equity of 38.42% and a net margin of 4.41%. The company had revenue of $526.55 million for the quarter. During the same period in the prior year, the business posted $0.19 earnings per share. On average, sell-side analysts anticipate that Kosmos Energy Ltd. will post 0.77 EPS for the current fiscal year. Several analysts have weighed in on the company. Benchmark reaffirmed a “buy” rating and issued a $10.00 price target on shares of Kosmos Energy in a report on Tuesday, August 8th.StockNews.comraised Kosmos Energy to a “sell” rating in a report on Tuesday, November 7th. Stifel Nicolaus assumed coverage on Kosmos Energy in a report on Monday. They issued a “buy” rating and a $10.00 price target on the stock. Bank of America raised Kosmos Energy from a “neutral” rating to a “buy” rating and raised their price target for the company from $8.70 to $10.00 in a report on Wednesday, September 27th. Finally, Sanford C. Bernstein cut Kosmos Energy from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $12.00 to $9.00 in a report on Tuesday, October 17th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Kosmos Energy currently has an average rating of “Moderate Buy” and an average target price of $9.53. Check Out Our Latest Analysis on KOS (Free Report) Kosmos Energy Ltd. engages in the exploration and production of oil and gas properties along the Atlantic Margins in the United States. The company's primary assets include production projects located in offshore Ghana, Equatorial Guinea, and the U.S. Gulf of Mexico, as well as a gas projects located in offshore Mauritania and Senegal. Want to see what other hedge funds are holding KOS?Visit HoldingsChannel.comto get the latest 13F filings and insider trades for Kosmos Energy Ltd. (NYSE:KOS–Free Report). |
2024-11-21 | ETF Daily News | GeoWealth Management LLC Makes New Investment in Brown & Brown, Inc. (NYSE:BRO) | GeoWealth Management LLC acquired a new stake in Brown & Brown, Inc. (NYSE:BRO–Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 9,128 shares of the financial services provider’s stock, valued at approximately $628,000. Other institutional investors have also made changes to their positions in the company. Kentucky Retirement Systems boosted its stake in shares of Brown & Brown by 0.8% in the 1st quarter. Kentucky Retirement Systems now owns 18,585 shares of the financial services provider’s stock valued at $1,067,000 after purchasing an additional 153 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its holdings in shares of Brown & Brown by 3.0% in the 2nd quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,416 shares of the financial services provider’s stock worth $373,000 after acquiring an additional 156 shares in the last quarter. Fifth Third Bancorp grew its position in Brown & Brown by 3.3% during the 2nd quarter. Fifth Third Bancorp now owns 4,876 shares of the financial services provider’s stock worth $336,000 after acquiring an additional 157 shares during the last quarter. Advisor Partners II LLC raised its position in Brown & Brown by 1.3% in the 1st quarter. Advisor Partners II LLC now owns 11,845 shares of the financial services provider’s stock valued at $680,000 after purchasing an additional 157 shares during the last quarter. Finally, Stephens Inc. AR boosted its stake in Brown & Brown by 0.7% in the first quarter. Stephens Inc. AR now owns 25,801 shares of the financial services provider’s stock worth $1,481,000 after purchasing an additional 172 shares in the last quarter. 70.33% of the stock is currently owned by institutional investors and hedge funds. BRO stockopened at $73.46 on Tuesday. The business has a 50-day moving average of $70.97 and a 200-day moving average of $69.28. Brown & Brown, Inc. has a fifty-two week low of $52.82 and a fifty-two week high of $74.57. The stock has a market capitalization of $20.91 billion, a P/E ratio of 27.93 and a beta of 0.76. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.85 and a quick ratio of 1.85. Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverBrown & Brown (NYSE:BRO–Get Free Report) last issued its quarterly earnings results on Monday, October 23rd. The financial services provider reported $0.71 EPS for the quarter, topping the consensus estimate of $0.62 by $0.09. Brown & Brown had a net margin of 18.08% and a return on equity of 15.72%. The firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same period in the previous year, the firm posted $0.50 EPS. The company’s revenue for the quarter was up 15.1% on a year-over-year basis. On average, sell-side analysts anticipate that Brown & Brown, Inc. will post 2.75 earnings per share for the current fiscal year. The company also recently announced a quarterly dividend, which was paid on Wednesday, November 15th. Investors of record on Wednesday, November 1st were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 0.71%. This is an increase from Brown & Brown’s previous quarterly dividend of $0.12. The ex-dividend date was Tuesday, October 31st. Brown & Brown’s payout ratio is presently 19.77%. Several equities research analysts have weighed in on BRO shares. Royal Bank of Canada restated a “sector perform” rating and issued a $77.00 price objective on shares of Brown & Brown in a research report on Friday, September 15th. Keefe, Bruyette & Woods cut Brown & Brown from an “outperform” rating to a “market perform” rating and lifted their target price for the company from $73.00 to $76.00 in a research note on Tuesday, August 1st. Truist Financial reiterated a “buy” rating and issued a $85.00 price target on shares of Brown & Brown in a report on Friday, September 15th. Wells Fargo & Company boosted their price objective on Brown & Brown from $62.00 to $70.00 in a report on Wednesday, July 26th. Finally, Citigroup upped their target price on shares of Brown & Brown from $81.00 to $83.00 and gave the company a “buy” rating in a research report on Tuesday, September 19th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Brown & Brown currently has an average rating of “Moderate Buy” and a consensus target price of $76.00. Get Our Latest Report on BRO In other news, EVP Stephen M. Boyd sold 2,500 shares of the company’s stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $70.64, for a total value of $176,600.00. Following the sale, the executive vice president now directly owns 64,471 shares of the company’s stock, valued at approximately $4,554,231.44. The sale was disclosed in a legal filing with the SEC, which can be accessed throughthe SEC website. Insiders own 17.02% of the company’s stock. (Free Report) Brown & Brown, Inc markets and sells insurance products and services in the United States, Canada, Ireland, the United Kingdom, and internationally. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment provides property and casualty, employee benefits insurance products, personal insurance products, specialties insurance products, risk management strategies, loss control survey and analysis, consultancy, and claims processing services. Want to see what other hedge funds are holding BRO?Visit HoldingsChannel.comto get the latest 13F filings and insider trades for Brown & Brown, Inc. (NYSE:BRO–Free Report). |
2024-11-21 | ETF Daily News | William Blair Investment Management LLC Decreases Position in Taylor Morrison Home Co. (NYSE:TMHC) | William Blair Investment Management LLC trimmed its position in Taylor Morrison Home Co. (NYSE:TMHC–Free Report) by 24.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 861,959 shares of the construction company’s stock after selling 282,226 shares during the quarter. William Blair Investment Management LLC owned approximately 0.79% of Taylor Morrison Home worth $42,038,000 at the end of the most recent reporting period. Several other hedge funds and other institutional investors have also recently bought and sold shares of TMHC. Lazard Asset Management LLC purchased a new stake in shares of Taylor Morrison Home in the first quarter valued at about $44,000. CWM LLC raised its position in Taylor Morrison Home by 39.0% during the first quarter. CWM LLC now owns 1,653 shares of the construction company’s stock worth $63,000 after acquiring an additional 464 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of Taylor Morrison Home in the first quarter valued at approximately $77,000. Covestor Ltd raised its position in shares of Taylor Morrison Home by 100.5% in the first quarter. Covestor Ltd now owns 3,072 shares of the construction company’s stock valued at $84,000 after buying an additional 1,540 shares during the last quarter. Finally, Point72 Hong Kong Ltd acquired a new position in shares of Taylor Morrison Home in the second quarter valued at approximately $108,000. 95.32% of the stock is currently owned by institutional investors and hedge funds. In other news, CEOSheryl Palmersold 112,500 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $46.01, for a total transaction of $5,176,125.00. Following the completion of the transaction, the chief executive officer now owns 399,942 shares in the company, valued at approximately $18,401,331.42. The transaction was disclosed in a legal filing with the SEC, which is accessible throughthe SEC website. Insiders own 5.50% of the company’s stock. Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverA number of equities analysts have recently weighed in on the stock. Credit Suisse Group boosted their price objective on shares of Taylor Morrison Home from $47.00 to $56.00 in a research report on Thursday, July 27th. Royal Bank of Canada dropped their price target on shares of Taylor Morrison Home from $49.00 to $43.00 and set a “sector perform” rating for the company in a research report on Thursday, October 26th.StockNews.comlowered shares of Taylor Morrison Home from a “buy” rating to a “hold” rating in a research report on Friday, October 27th. Seaport Res Ptn raised shares of Taylor Morrison Home from a “neutral” rating to a “buy” rating in a research report on Friday, November 3rd. Finally, Barclays dropped their price target on shares of Taylor Morrison Home from $55.00 to $47.00 and set an “equal weight” rating for the company in a research report on Thursday, October 12th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Taylor Morrison Home currently has an average rating of “Hold” and a consensus price target of $49.42. Read Our Latest Report on TMHC Shares ofNYSE:TMHCopened at $44.91 on Tuesday. The stock has a market capitalization of $4.83 billion, a price-to-earnings ratio of 5.73 and a beta of 1.79. Taylor Morrison Home Co. has a 1-year low of $27.78 and a 1-year high of $52.09. The company’s fifty day moving average is $42.20 and its two-hundred day moving average is $45.11. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.97 and a current ratio of 5.78. Taylor Morrison Home (NYSE:TMHC–Get Free Report) last released its quarterly earnings data on Wednesday, October 25th. The construction company reported $1.62 earnings per share for the quarter, topping analysts’ consensus estimates of $1.52 by $0.10. The business had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.66 billion. Taylor Morrison Home had a net margin of 11.05% and a return on equity of 18.75%. Equities analysts anticipate that Taylor Morrison Home Co. will post 7.24 EPS for the current year. (Free Report) Taylor Morrison Home Corporation, together with its subsidiaries, operates as a public homebuilder in the United States. The company designs, builds, and sells single and multi-family detached and attached homes; and develops lifestyle and master-planned communities. It also develops and constructs multi-use properties consisting of commercial space, retail, and multi-family properties under the Urban Form brand name; and offers title insurance and closing settlement services, as well as financial services. Want to see what other hedge funds are holding TMHC?Visit HoldingsChannel.comto get the latest 13F filings and insider trades for Taylor Morrison Home Co. (NYSE:TMHC–Free Report). |
2024-11-21 | ETF Daily News | New Jersey Resources (NYSE:NJR) Updates FY23 Earnings Guidance | New Jersey Resources (NYSE:NJR–Get Free Report) updated its FY23 earnings guidance on Tuesday. The company provided EPS guidance of $2.70-2.85 for the period, compared to the consensus EPS estimate of $2.70. Several equities research analysts have weighed in on the stock. Mizuho lowered their price objective on shares of New Jersey Resources from $49.00 to $47.00 and set a neutral rating for the company in a research report on Monday.StockNews.comstarted coverage on shares of New Jersey Resources in a research note on Thursday, October 5th. They issued a sell rating on the stock. Guggenheim reduced their price objective on shares of New Jersey Resources from $47.00 to $42.00 in a research note on Monday, October 9th. Wells Fargo & Company cut their price target on New Jersey Resources from $52.00 to $47.00 and set an equal weight rating on the stock in a research note on Friday, August 4th. Finally, JPMorgan Chase & Co. raised New Jersey Resources from an underweight rating to a neutral rating and lifted their price objective for the stock from $44.00 to $46.00 in a research note on Thursday, September 21st. Get Our Latest Research Report on New Jersey Resources Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverNJR stockopened at $42.34 on Tuesday. The firm has a market cap of $4.13 billion, a PE ratio of 14.60, a P/E/G ratio of 2.53 and a beta of 0.64. The company has a current ratio of 0.78, a quick ratio of 0.50 and a debt-to-equity ratio of 1.37. The business’s 50-day moving average price is $41.92 and its two-hundred day moving average price is $44.72. New Jersey Resources has a 1-year low of $38.92 and a 1-year high of $55.84. The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Wednesday, December 13th will be given a dividend of $0.42 per share. This is an increase from New Jersey Resources’s previous quarterly dividend of $0.39. The ex-dividend date is Tuesday, December 12th. This represents a $1.68 annualized dividend and a dividend yield of 3.97%. New Jersey Resources’s dividend payout ratio is currently 57.93%. Several hedge funds and other institutional investors have recently modified their holdings of the company. Creative Planning lifted its stake in New Jersey Resources by 34.7% in the 3rd quarter. Creative Planning now owns 18,362 shares of the utilities provider’s stock valued at $746,000 after acquiring an additional 4,732 shares in the last quarter. Morgan Stanley boosted its holdings in New Jersey Resources by 37.1% during the third quarter. Morgan Stanley now owns 1,133,001 shares of the utilities provider’s stock worth $46,034,000 after purchasing an additional 306,406 shares during the last quarter. Mercer Global Advisors Inc. ADV bought a new position in New Jersey Resources in the third quarter valued at $339,000. The Manufacturers Life Insurance Company increased its stake in New Jersey Resources by 10.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 118,988 shares of the utilities provider’s stock valued at $4,834,000 after buying an additional 10,910 shares during the last quarter. Finally, Royal Bank of Canada lifted its position in New Jersey Resources by 3.4% during the 3rd quarter. Royal Bank of Canada now owns 63,901 shares of the utilities provider’s stock worth $2,595,000 after buying an additional 2,107 shares in the last quarter. Institutional investors and hedge funds own 73.08% of the company’s stock. (Get Free Report) New Jersey Resources Corporation, an energy services holding company, provides regulated gas distribution, and retail and wholesale energy services. The company operates through four segments: Natural Gas Distribution, Clean Energy Ventures, Energy Services, and Storage and Transportation. The Natural Gas Distribution segment offers regulated natural gas utility services to approximately 569,300 residential and commercial customers throughout Burlington, Middlesex, Monmouth, Morris, Ocean, and Sussex counties in New Jersey; provides capacity and storage management services; and participates in the off-system sales and capacity release markets. |
2024-11-21 | ETF Daily News | Contrasting Equifax (NYSE:EFX) & SGD (OTCMKTS:SGDH) | Equifax (NYSE:EFX–Get Free Report) and SGD (OTCMKTS:SGDH–Get Free Report) are both industrials companies, but which is the superior investment? We will compare the two companies based on the strength of their profitability, risk, analyst recommendations, earnings, institutional ownership, valuation and dividends. This is a summary of current ratings and price targets for Equifax and SGD, as provided by MarketBeat. Equifax currently has a consensus price target of $216.00, suggesting a potential upside of 3.33%. Given Equifax’s higher probable upside, equities analysts clearly believe Equifax is more favorable than SGD. Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverThis table compares Equifax and SGD’s revenue, earnings per share (EPS) and valuation. Equifax has higher revenue and earnings than SGD. SGD is trading at a lower price-to-earnings ratio than Equifax, indicating that it is currently the more affordable of the two stocks. This table compares Equifax and SGD’s net margins, return on equity and return on assets. 98.4% of Equifax shares are owned by institutional investors. 1.6% of Equifax shares are owned by insiders. Comparatively, 5.5% of SGD shares are owned by insiders. Strong institutional ownership is an indication that hedge funds, endowments and large money managers believe a company will outperform the market over the long term. Equifax beats SGD on 9 of the 10 factors compared between the two stocks. (Get Free Report) Equifax Inc. operates as a data, analytics, and technology company. The company operates through three segments: Workforce Solutions, U.S. Information Solutions (USIS), and International. The Workforce Solutions segment offers services that enables customers to verify income, employment, educational history, criminal justice data, healthcare professional licensure, and sanctions of people in the United States; and employer customers with services that assist them in complying with and automating payroll-related and human resource management processes throughout the entire cycle of the employment relationship. The USIS segment provides consumer and commercial information services, such as credit information and credit scoring, credit modeling and portfolio analytics, locate, fraud detection and prevention, identity verification, and other consulting services; mortgage services; financial marketing services; identity management services; and credit monitoring products. The International segment offers information service products, which include consumer and commercial services, such as credit and financial information, and credit scoring and modeling; and credit and other marketing products and services, as well as offers information, technology, and other services to support debt collections and recovery management. The company serves customers in financial services, mortgage, retail, telecommunications, utilities, automotive, brokerage, healthcare, and insurance industries, as well as government agencies. It operates in the United States, Canada, Australia, New Zealand, India, the United Kingdom, Spain, Portugal, Argentina, Chile, Costa Rica, Dominican Republic, Ecuador, El Salvador, Honduras, Mexico, Paraguay, Peru, Uruguay, and the Republic of Ireland. The company was founded in 1899 and is headquartered in Atlanta, Georgia. (Get Free Report) SGD Holdings, Ltd., through its subsidiary, Eco Paper, Inc., develops, markets, and sells paper and paper products from natural fibers. Its products include journals, paper reams, cover stock, art and sketch pads, envelopes, stationery and gifts, office and school products, and notebooks, as well as paper type products. SGD Holdings, Ltd. is headquartered in Ventura, California. |
2024-11-21 | ETF Daily News | Truist Financial Trims Norwegian Cruise Line (NYSE:NCLH) Target Price to $17.00 | Norwegian Cruise Line (NYSE:NCLH–Get Free Report)had its price target lowered by Truist Financial from $20.00 to $17.00 in a report issued on Tuesday,Benzingareports. The brokerage presently has a “hold” rating on the stock. Truist Financial’s target price would suggest a potential upside of 18.96% from the stock’s previous close. Several other research firms have also recently commented on NCLH. Citigroup decreased their price target on shares of Norwegian Cruise Line from $20.00 to $16.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 17th. Stifel Nicolaus lifted their target price on Norwegian Cruise Line from $22.00 to $26.00 and gave the company a “buy” rating in a research note on Wednesday, August 2nd. Susquehanna cut their price target on Norwegian Cruise Line from $17.00 to $14.00 and set a “neutral” rating on the stock in a research note on Thursday, November 2nd. Wells Fargo & Company decreased their price target on Norwegian Cruise Line from $22.00 to $19.00 and set an “overweight” rating on the stock in a report on Tuesday, October 24th. Finally, Morgan Stanley dropped their price objective on Norwegian Cruise Line from $14.50 to $13.50 and set an “underweight” rating for the company in a report on Thursday, November 2nd. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $18.04. View Our Latest Analysis on Norwegian Cruise Line Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverNCLHtraded down $0.33 during trading on Tuesday, hitting $14.29. The company’s stock had a trading volume of 5,462,156 shares, compared to its average volume of 14,262,694. The company has a quick ratio of 0.27, a current ratio of 0.30 and a debt-to-equity ratio of 28.80. The stock has a market capitalization of $6.08 billion, a price-to-earnings ratio of -23.43 and a beta of 2.57. The firm’s 50 day moving average price is $15.05 and its two-hundred day moving average price is $17.13. Norwegian Cruise Line has a 12 month low of $11.76 and a 12 month high of $22.75. Norwegian Cruise Line (NYSE:NCLH–Get Free Report) last announced its earnings results on Wednesday, November 1st. The company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.15. The company had revenue of $2.54 billion during the quarter, compared to analyst estimates of $2.53 billion. Norwegian Cruise Line had a negative return on equity of 177.38% and a negative net margin of 2.60%. The firm’s quarterly revenue was up 57.0% compared to the same quarter last year. During the same period last year, the company posted ($0.70) earnings per share. Sell-side analysts forecast that Norwegian Cruise Line will post 0.51 earnings per share for the current fiscal year. A number of hedge funds and other institutional investors have recently made changes to their positions in NCLH. Creative Planning increased its position in shares of Norwegian Cruise Line by 95.7% in the 3rd quarter. Creative Planning now owns 262,736 shares of the company’s stock valued at $4,330,000 after buying an additional 128,450 shares in the last quarter. Bullseye Asset Management LLC increased its holdings in shares of Norwegian Cruise Line by 1.5% in the third quarter. Bullseye Asset Management LLC now owns 338,318 shares of the company’s stock worth $5,575,000 after acquiring an additional 5,000 shares in the last quarter. WealthPlan Investment Management LLC acquired a new stake in shares of Norwegian Cruise Line during the third quarter worth about $1,824,000. Toroso Investments LLC raised its position in shares of Norwegian Cruise Line by 93.7% during the third quarter. Toroso Investments LLC now owns 27,816 shares of the company’s stock worth $458,000 after purchasing an additional 13,453 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Norwegian Cruise Line by 15.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 348,448 shares of the company’s stock valued at $5,742,000 after purchasing an additional 47,690 shares in the last quarter. 60.49% of the stock is owned by institutional investors. (Get Free Report) Norwegian Cruise Line Holdings Ltd., together with its subsidiaries, operates as a cruise company in North America, Europe, the Asia-Pacific, and internationally. The company operates the Norwegian Cruise Line, Oceania Cruises, and Regent Seven Seas Cruises brands. It offers itineraries ranging from three days to a 180-days calling on various locations, including destinations in Scandinavia, Russia, the Mediterranean, the Greek Isles, Alaska, Canada and New England, Hawaii, Asia, Tahiti and the South Pacific, Australia and New Zealand, Africa, India, South America, the Panama Canal, and the Caribbean. |
2024-11-21 | ETF Daily News | Rambus Inc. (NASDAQ:RMBS) Shares Acquired by E Fund Management Co. Ltd. | E Fund Management Co. Ltd. increased its position in shares of Rambus Inc. (NASDAQ:RMBS–Free Report) by 156.7% in the second quarter,HoldingsChannelreports. The firm owned 14,822 shares of the semiconductor company’s stock after acquiring an additional 9,047 shares during the quarter. E Fund Management Co. Ltd.’s holdings in Rambus were worth $951,000 as of its most recent filing with the Securities & Exchange Commission. Other institutional investors and hedge funds have also recently modified their holdings of the company. Crossmark Global Holdings Inc. raised its position in Rambus by 2.0% during the second quarter. Crossmark Global Holdings Inc. now owns 8,606 shares of the semiconductor company’s stock valued at $538,000 after acquiring an additional 165 shares in the last quarter. Diversified Trust Co increased its position in shares of Rambus by 1.0% in the second quarter. Diversified Trust Co now owns 20,388 shares of the semiconductor company’s stock valued at $1,308,000 after buying an additional 198 shares in the last quarter. Xponance Inc. increased its position in shares of Rambus by 3.3% in the second quarter. Xponance Inc. now owns 6,399 shares of the semiconductor company’s stock valued at $411,000 after buying an additional 206 shares in the last quarter. Metropolitan Life Insurance Co NY increased its position in shares of Rambus by 3.4% during the fourth quarter. Metropolitan Life Insurance Co NY now owns 6,749 shares of the semiconductor company’s stock worth $242,000 after purchasing an additional 221 shares in the last quarter. Finally, Advisor Partners II LLC increased its position in shares of Rambus by 2.5% during the first quarter. Advisor Partners II LLC now owns 11,028 shares of the semiconductor company’s stock worth $565,000 after purchasing an additional 274 shares in the last quarter. Institutional investors and hedge funds own 86.15% of the company’s stock. Shares ofRambus stocktraded down $3.01 during trading hours on Tuesday, hitting $66.61. The company’s stock had a trading volume of 515,312 shares, compared to its average volume of 1,303,645. Rambus Inc. has a twelve month low of $34.77 and a twelve month high of $69.78. The firm has a fifty day moving average of $57.51 and a 200-day moving average of $57.92. The stock has a market cap of $7.16 billion, a price-to-earnings ratio of 26.30, a P/E/G ratio of 3.23 and a beta of 1.23. Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverRambus (NASDAQ:RMBS–Get Free Report) last announced its quarterly earnings results on Monday, October 30th. The semiconductor company reported $0.93 EPS for the quarter, beating the consensus estimate of $0.41 by $0.52. Rambus had a return on equity of 19.08% and a net margin of 63.15%. The business had revenue of $105.30 million for the quarter, compared to analyst estimates of $131.20 million. During the same quarter in the prior year, the company posted $0.40 EPS. The company’s quarterly revenue was down 6.1% on a year-over-year basis. On average, sell-side analysts expect that Rambus Inc. will post 1.44 earnings per share for the current fiscal year. In related news, DirectorSteven Laubsold 2,000 shares of the stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $66.91, for a total transaction of $133,820.00. Following the transaction, the director now owns 7,761 shares of the company’s stock, valued at approximately $519,288.51. The transaction was disclosed in a filing with the SEC, which is available throughthis hyperlink. In related news, COOXianzhi Sean Fansold 17,309 shares of the company’s stock in a transaction that occurred on Tuesday, August 29th. The shares were sold at an average price of $54.99, for a total transaction of $951,821.91. Following the sale, the chief operating officer now directly owns 168,223 shares in the company, valued at $9,250,582.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed throughthis link. Also, DirectorSteven Laubsold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $66.91, for a total transaction of $133,820.00. Following the sale, the director now owns 7,761 shares in the company, valued at $519,288.51. The disclosure for this sale can be foundhere. In the last 90 days, insiders have sold 37,309 shares of company stock valued at $2,139,942. Corporate insiders own 1.00% of the company’s stock. Several analysts recently commented on the company. Rosenblatt Securities reiterated a “buy” rating and set a $73.00 price target on shares of Rambus in a research report on Tuesday, September 19th.StockNews.combegan coverage on Rambus in a research note on Thursday, October 5th. They set a “hold” rating on the stock. Jefferies Financial Group boosted their price objective on Rambus from $65.00 to $66.00 and gave the stock a “buy” rating in a research note on Tuesday, August 1st. Finally, TheStreet raised Rambus from a “c+” rating to a “b+” rating in a research note on Monday, July 31st. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $64.80. Check Out Our Latest Analysis on RMBS (Free Report) Rambus Inc provides semiconductor products in the United States, Taiwan, South Korea, Japan, Europe, Canada, Singapore, China, and internationally. The company offers DDR memory interface chips, including DDR5 and DDR4 memory interface chips to module manufacturers, and OEMs; silicon IP comprising, interface and security IP solutions that move and protect data in advanced data center, government, and automotive applications; and physical interface and digital controller IP to offer industry-leading, integrated memory, and interconnect subsystems. Want to see what other hedge funds are holding RMBS?Visit HoldingsChannel.comto get the latest 13F filings and insider trades for Rambus Inc. (NASDAQ:RMBS–Free Report). |
2024-11-21 | ETF Daily News | Comparing CalAmp (NASDAQ:CAMP) & Mynaric (NASDAQ:MYNA) | Mynaric (NASDAQ:MYNA–Get Free Report) and CalAmp (NASDAQ:CAMP–Get Free Report) are both small-cap computer and technology companies, but which is the better investment? We will contrast the two companies based on the strength of their analyst recommendations, institutional ownership, earnings, dividends, profitability, valuation and risk. This table compares Mynaric and CalAmp’s gross revenue, earnings per share (EPS) and valuation. CalAmp has higher revenue and earnings than Mynaric. Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverMynaric has a beta of 1.55, meaning that its stock price is 55% more volatile than the S&P 500. Comparatively, CalAmp has a beta of 2.01, meaning that its stock price is 101% more volatile than the S&P 500. 4.5% of Mynaric shares are owned by institutional investors. Comparatively, 62.9% of CalAmp shares are owned by institutional investors. 5.4% of Mynaric shares are owned by insiders. Comparatively, 13.6% of CalAmp shares are owned by insiders. Strong institutional ownership is an indication that large money managers, endowments and hedge funds believe a stock will outperform the market over the long term. This table compares Mynaric and CalAmp’s net margins, return on equity and return on assets. This is a summary of current ratings and price targets for Mynaric and CalAmp, as reported by MarketBeat. Mynaric currently has a consensus price target of $4.00, indicating a potential downside of 13.89%. CalAmp has a consensus price target of $2.75, indicating a potential upside of 708.59%. Given CalAmp’s stronger consensus rating and higher possible upside, analysts clearly believe CalAmp is more favorable than Mynaric. CalAmp beats Mynaric on 8 of the 12 factors compared between the two stocks. (Get Free Report) Mynaric AG develops and manufactures advanced laser communication technology for long-distance data transmission between moving objects for wireless terrestrial, airborne, and space applications in the United States, Canada, and Belgium. The company offers CONDOR, an optical inter-satellite link flight terminal for satellite-to-satellite communications in space; and HAWK, an airborne flight terminal for air-to-air and air-to-ground links of airborne vehicles. Its products provide connectivity solutions to link satellites, high-altitude platforms, unmanned aerial vehicles, and aircraft. Mynaric AG was incorporated in 2009 and is headquartered in Gilching, Germany. (Get Free Report) CalAmp Corp., a connected intelligence company, provides leverages a data-driven solutions ecosystem to people and organizations in the United States, Europe, the Middle East, Africa, Latin America, the Asia-Pacific, and internationally. The company operates in two segments, Software & Subscription Services and Telematics Products. It provides CalAmp Telematics Cloud platform, such as cloud-based application enablement and telematics service platforms that facilitate integration of its own applications, as well as those of third parties, through open application programming interfaces; and software as a service application, as well as provides tracking and monitoring services within fleet management, supply chain integrity, and international vehicle location. The company also offers telematics products, including asset tracking units, mobile telematics devices, fixed and mobile wireless gateways, and routers; and advanced telematics products for the broader connected vehicle and Internet of Things marketplace, which enable customers to optimize their operations by collecting, monitoring, and reporting business-critical information and desired intelligence from remote and mobile assets. In addition, it offers professional services, including project management, engineering services, and installation services. The company sells its products and services to customers in the automotive, telecommunications, industrial equipment, transportation and logistics, government and municipalities, insurance, original equipment manufacturers, and leasing companies. It markets through direct sales organization, channel partner program, original equipment manufacturers, and independent sales representatives and distributors, as well as its websites and digital platform. The company was incorporated in 1981 and is headquartered in Irvine, California. |
2024-11-22 | Forbes | Burnout In US Healthcare: New Data, Surprising Insights | Suprising new data about doctor burnout suggests that the disfunctional U.S. healthcare system isn't ... [+] entirely to blame. In medicine, when an ICU patient fails to get better after a week of intensive care, doing more of the same treatment proves futile and frequently harmful. Instead, it’s better to take a step back: reassess both the initial diagnosis and treatment plan. Doing so, doctors usually find that earlier assumptions were incorrect and that they’ve overlooked something vital. This same notion applies to clinician burnout in medicine. Despite heightened awareness of this urgent issue and widespread calls for relief, the burnout crisis continues to escalate. After a decade of failing to solve the problem, it’s time for a diagnostic reevaluation. The Paradox Of Clinician Burnout In America Doctors and nurses today are the beneficiaries of groundbreaking advancements in science, technology and disease treatments. With so many sophisticated tools available to diagnose and cure patient problems, you’d think this would be the golden era of clinician fulfillment. And yet, this period of radical advancement is marked by growing dissatisfaction and an exodus of physicians. Last year alone, 71,309 doctors quit the profession. At a press briefing last month, Dr. Debra Houry, Chief Medical Officer at the Centers for Disease Control and Prevention, highlighted this growing threat to healthcare professionals. “Burnout among these workers has reached crisis levels,” she said, noting that the COVID-19 pandemic had intensified long-standing challenges within the workforce. Fatigue, depression, anxiety, substance use disorders and suicidal thoughts are on the rise, according to the CDC. In self-reported surveys about the causes of burnout, medical professionals point to the profit-centric American healthcare system that burdens them with countless bureaucratic tasks, endless prior authorization requirements, and a revolving door of patient visits. All these complaints are valid, but new data on burnout from the nonprofit Commonwealth Fund raise another possibility and shed light on a potential solution. Burnout: A Distinctly American Problem? If the main drivers of burnout were indeed greedy insurance execs and a for-profit healthcare system, then you would expect that the Western nations with universal healthcare (which is paid for and provided by the government) would have dramatically lower physician burnout rates than in the United States. But the Commonwealth Fund report tells a different story. Surprisingly, primary care physicians in the U.S. are in the middle of the pack when it comes to burnout. They report higher rates of satisfaction than their peers in the UK, Germany, Australia, New Zealand and Canada (but trail the Netherlands, Sweden, France and Switzerland in satisfaction). If physician burnout isn’t a distinctly American phenomenon, deriving from unique aspects of the U.S. healthcare system, then what is causing doctor dissatisfaction around the world? If we look at the biggest change to global medical practice in the 21st century, it’s not the corporatization of care or the administrative burdens heaped on clinicians. It’s the evolution of illness, itself. Chronic Disease Drives Unprecedented Demand For most of medical history, and throughout the 20th century, most patients went to doctors with acute conditions, urgent and sudden in their onset. These problems ranged from broken bones and appendicitis to heart attacks and pneumonia. When surgery or antibiotics proved successful, patients typically healed up and returned to good health. And when the limitations of medicine in the past proved too great, patients quickly succumbed to injury or illness, and died. Back then, medicine was a simpler profession with fewer clinical problems to solve and fewer treatments available. Today, chronic illnesses like cardiovascular disease, cancer, diabetes and respiratory illnesses are the most frequent and fastest growing problems doctors treat. Unlike patients with acute problems, people with multiple chronic conditions must be seen three to four times a year for life. And for doctors, this rapid shift from acute to chronic illness has a serious impact on clinical demands and workplace satisfaction. It’s akin to the difference between lifting a heavy weight once (challenging but manageable) and lifting a heavy weight repeatedly over a lifetime (completely exhausting). Industrialized nations everywhere are experiencing spikes in diseases that require lifelong care. The World Health Organization estimates that, by 2050, these chronic diseases will account for 86% of the world’s 90 million deaths each year (a staggering 90% increase in absolute numbers from 2019). Today, chronic illness affects an alarming 60% of Americans. Obesity and diabetes are reaching epidemic levels with clinicians’ efforts to reverse these trends proving largely ineffective. Particularly concerning is the medication burden among senior citizens: 40% of Americans over 65 are on five or more prescription drugs, a rate that has tripled in the past two decades (20% are taking 10 or more drugs). Rethinking U.S. Physician Burnout: What We Missed The list of medical challenges doctors must deal with is ever-expanding. With the severity and volume of these problems today, it’s no surprise clinicians are feeling exhausted and overwhelmed. As clinical pressures have risen over the past 20 to 30 years, doctors have been forced to see more patients a day, with less time for each. And when physicians have no choice but to cut corners in medical care delivery, they end the day feeling they haven’t done their best. The result is “moral injury,” a term that describes the pain physicians experience when circumstances put them in a position to fail, resulting in harm to patients. For more than a decade, we’ve thought of burnout as something inflicted on the medical profession by money-hungry villains. When we take a step back and reassess the situation, perhaps the best way to think about burnout is as an affliction caused by the evolution of disease and the exponentially greater burden it has created for clinicians. Unless we can find ways to reduce the demand for medical care, physicians, particularly in primary care, will be even more burned out a decade from now. But improvement is possible. Just imagine what would happen to doctor’ daily workload if Americans experienced 30% fewer chronic diseases and had 30% fewer heart attacks, strokes, and cancers, as a result. Imagine how much more fulfilling medicine would be if physicians had more time with patients and less pressure to race through the day. Fortunately, there is a tech-driven solution on the horizon to significantly lessen clinical pressures and reduce burnout without raising healthcare costs. What is this technology, and how best to apply it, will be the focus of my next article. To receive that article in your inbox, hit the “follow” button at the top or bottom of this article. |
2024-11-22 | ETF Daily News | The Cigna Group (NYSE:CI) Given Average Recommendation of “Moderate Buy” by Brokerages | The Cigna Group (NYSE:CI–Get Free Report) has been given a consensus recommendation of “Moderate Buy” by the eleven research firms that are currently covering the stock,Marketbeat.comreports. Five analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $336.40. Several analysts recently weighed in on the company. Edward Jones downgraded The Cigna Group from a “buy” rating to a “hold” rating in a research note on Thursday, August 17th. Royal Bank of Canada reissued a “sector perform” rating and issued a $327.00 target price on shares of The Cigna Group in a research note on Wednesday, November 15th. Sanford C. Bernstein lifted their price target on The Cigna Group from $326.00 to $330.00 in a research report on Tuesday, October 10th. Bank of America increased their price objective on shares of The Cigna Group from $320.00 to $350.00 and gave the company a “buy” rating in a research report on Friday, August 4th. Finally, Cantor Fitzgerald lifted their target price on shares of The Cigna Group from $310.00 to $334.00 and gave the stock a “neutral” rating in a report on Friday, November 3rd. Read Our Latest Report on The Cigna Group Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverShares ofThe Cigna Group stockopened at $286.50 on Wednesday. The business has a fifty day simple moving average of $294.97 and a two-hundred day simple moving average of $281.92. The firm has a market capitalization of $83.84 billion, a P/E ratio of 16.16, a P/E/G ratio of 1.02 and a beta of 0.65. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61. The Cigna Group has a 12 month low of $240.50 and a 12 month high of $340.11. The Cigna Group (NYSE:CI–Get Free Report) last issued its quarterly earnings results on Thursday, November 2nd. The health services provider reported $6.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.68 by $0.09. The company had revenue of $49.05 billion during the quarter, compared to analysts’ expectations of $48.14 billion. The Cigna Group had a net margin of 2.79% and a return on equity of 12.62%. The Cigna Group’s revenue was up 8.3% on a year-over-year basis. During the same period last year, the company posted $6.04 EPS. On average, equities analysts forecast that The Cigna Group will post 24.82 earnings per share for the current fiscal year. The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 21st. Shareholders of record on Wednesday, December 6th will be paid a $1.23 dividend. The ex-dividend date of this dividend is Tuesday, December 5th. This represents a $4.92 annualized dividend and a yield of 1.72%. The Cigna Group’s payout ratio is 27.75%. In other The Cigna Group news, EVPCynthia Ryansold 3,768 shares of the business’s stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $282.22, for a total value of $1,063,404.96. Following the sale, the executive vice president now owns 5,503 shares in the company, valued at approximately $1,553,056.66. The sale was disclosed in a filing with the SEC, which can be accessed throughthe SEC website. Company insiders own 0.60% of the company’s stock. A number of large investors have recently added to or reduced their stakes in the company. Bogart Wealth LLC lifted its holdings in shares of The Cigna Group by 104.5% in the 3rd quarter. Bogart Wealth LLC now owns 90 shares of the health services provider’s stock valued at $26,000 after acquiring an additional 46 shares during the last quarter. OFI Invest Asset Management purchased a new stake in The Cigna Group during the third quarter valued at approximately $26,000. Fairfield Bush & CO. purchased a new position in shares of The Cigna Group in the 2nd quarter worth approximately $28,000. Optimum Investment Advisors raised its holdings in The Cigna Group by 110.0% during the 3rd quarter. Optimum Investment Advisors now owns 105 shares of the health services provider’s stock valued at $30,000 after buying an additional 55 shares during the period. Finally, Kalos Management Inc. bought a new stake in The Cigna Group in the first quarter worth $27,000. Institutional investors own 85.32% of the company’s stock. (Get Free Report The Cigna Group, together with its subsidiaries, provides insurance and related products and services in the United States. Its Evernorth Health Services segment provides a range of coordinated and point solution health services, including pharmacy benefits, home delivery pharmacy, specialty pharmacy, distribution, and care delivery and management solutions to health plans, employers, government organizations, and health care providers. |
2024-11-22 | ETF Daily News | Contrasting Fairfax Financial (OTCMKTS:FRFHF) and Selective Insurance Group (NASDAQ:SIGIP) | Selective Insurance Group (NASDAQ:SIGIP–Get Free Report) and Fairfax Financial (OTCMKTS:FRFHF–Get Free Report) are both financial services companies, but which is the superior business? We will compare the two companies based on the strength of their risk, analyst recommendations, valuation, profitability, dividends, earnings and institutional ownership. 0.7% of Fairfax Financial shares are held by institutional investors. Strong institutional ownership is an indication that large money managers, hedge funds and endowments believe a stock is poised for long-term growth. This table compares Selective Insurance Group and Fairfax Financial’s net margins, return on equity and return on assets. Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverThis table compares Selective Insurance Group and Fairfax Financial’s gross revenue, earnings per share (EPS) and valuation. Fairfax Financial has higher revenue and earnings than Selective Insurance Group. Selective Insurance Group pays an annual dividend of $1.15 per share and has a dividend yield of 7.0%. Fairfax Financial pays an annual dividend of $10.00 per share and has a dividend yield of 1.1%. Fairfax Financial pays out 5.0% of its earnings in the form of a dividend. This is a summary of recent recommendations and price targets for Selective Insurance Group and Fairfax Financial, as reported by MarketBeat. Fairfax Financial has a consensus target price of $662.00, suggesting a potential downside of 26.07%. Given Fairfax Financial’s higher probable upside, analysts plainly believe Fairfax Financial is more favorable than Selective Insurance Group. Fairfax Financial beats Selective Insurance Group on 7 of the 9 factors compared between the two stocks. (Get Free Report) Selective Insurance Group, Inc., together with its subsidiaries, provides insurance products and services in the United States. The company operates through four segments: Standard Commercial Lines, Standard Personal Lines, E&S Lines, and Investments. It offers property insurance products, which covers the accidental loss of an insured's real property, personal property, and/or earnings due to the property's loss; casualty insurance products that covers the financial consequences of employee injuries in the course of employment, and bodily injury and/or property damage to a third party; and flood insurance products. The company also invests in fixed income investments and commercial mortgage loans, as well as equity securities, short-term investments, and alternative investments, and other investments. It offers its insurance products and services to businesses, non-profit organizations, local government agencies, and individuals through independent retail agents and wholesale general agents. The company was founded in 1926 and is headquartered in Branchville, New Jersey. (Get Free Report) Fairfax Financial Holdings Limited, through its subsidiaries, provides property and casualty insurance and reinsurance, and investment management services in the United States, Canada, Asia, and internationally. The company operates through Property and Casualty Insurance and Reinsurance, Life insurance and Run-off, and Non-Insurance Companies segments. It insures against losses to property from fire, explosion, earthquake, windstorm, flood, terrorism, boiler explosion, machinery breakdown, and construction defects, as well as underwrites automobile, commercial and personal property, and crop insurance. The company also offers workers' compensation, employer's liability, accident and health, medical malpractice, professional liability, and umbrella coverage insurance products; marine, aerospace, surety risk, and other risks and liabilities insurance products; and reinsurance products. In addition, it franchises, owns, and operates restaurants; retails sporting goods and sports apparel, golf equipment, apparel, and accessories; provides integrated travel and travel-related financial services, as well as advanced digital tools for agriculture; owns and operates holiday resorts; originates, processes, and distributes value-added pulses and staple foods; develops, manages, and invests in hospitality real estate. The company was formerly known as Markel Financial Holdings Limited and changed its name to Fairfax Financial Holdings Limited in 1987. Fairfax Financial Holdings Limited was incorporated in 1951 and is headquartered in Toronto, Canada. |
2024-11-22 | ETF Daily News | Analysts Set Immunovant, Inc. (NASDAQ:IMVT) Price Target at $41.15 | Shares of Immunovant, Inc. (NASDAQ:IMVT–Get Free Report) have received an average rating of “Buy” from the thirteen research firms that are currently covering the stock,Marketbeat Ratingsreports. Thirteen equities research analysts have rated the stock with a buy rating. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $42.54. A number of research analysts have issued reports on IMVT shares. Guggenheim upped their price objective on Immunovant from $32.00 to $48.00 in a research note on Wednesday, September 27th. Citigroup upped their price objective on Immunovant from $33.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, September 27th. Raymond James upgraded Immunovant from a “market perform” rating to an “outperform” rating and set a $40.00 price objective for the company in a research note on Tuesday, September 26th. Truist Financial upped their price objective on Immunovant from $30.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday, November 15th. Finally, HC Wainwright increased their price target on Immunovant from $29.00 to $47.00 and gave the stock a “buy” rating in a research note on Tuesday, October 24th. Read Our Latest Stock Report on Immunovant Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverShares ofImmunovant stockopened at $32.96 on Wednesday. The stock has a fifty day simple moving average of $32.61 and a 200 day simple moving average of $25.09. Immunovant has a 12-month low of $12.40 and a 12-month high of $44.19. The company has a market capitalization of $4.77 billion, a P/E ratio of -16.73 and a beta of 0.66. Immunovant (NASDAQ:IMVT–Get Free Report) last announced its quarterly earnings data on Thursday, November 9th. The company reported ($0.45) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.45). On average, analysts predict that Immunovant will post -1.84 EPS for the current year. In related news, insiderJulia G. Butchkosold 1,735 shares of the stock in a transaction dated Thursday, October 5th. The stock was sold at an average price of $36.24, for a total transaction of $62,876.40. Following the sale, the insider now owns 414,525 shares of the company’s stock, valued at approximately $15,022,386. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible throughthe SEC website. In related news, insider Julia G. Butchko sold 1,735 shares of the stock in a transaction dated Thursday, October 5th. The stock was sold at an average price of $36.24, for a total transaction of $62,876.40. Following the sale, the insider now owns 414,525 shares of the company’s stock, valued at approximately $15,022,386. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible throughthe SEC website. Also, insiderMark S. Levinesold 4,107 shares of the stock in a transaction dated Wednesday, October 25th. The stock was sold at an average price of $34.66, for a total value of $142,348.62. Following the sale, the insider now directly owns 310,381 shares in the company, valued at approximately $10,757,805.46. The disclosure for this sale can be foundhere. In the last quarter, insiders have sold 99,614 shares of company stock valued at $2,374,440. Corporate insiders own 4.80% of the company’s stock. Several institutional investors and hedge funds have recently modified their holdings of the business. Comerica Bank purchased a new stake in shares of Immunovant in the 3rd quarter valued at about $26,000. The Manufacturers Life Insurance Company raised its holdings in shares of Immunovant by 163.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 61,617 shares of the company’s stock valued at $2,365,000 after acquiring an additional 38,238 shares in the last quarter. Royal Bank of Canada raised its holdings in shares of Immunovant by 820.7% in the 3rd quarter. Royal Bank of Canada now owns 40,041 shares of the company’s stock valued at $1,537,000 after acquiring an additional 35,692 shares in the last quarter. Rock Springs Capital Management LP purchased a new stake in shares of Immunovant in the 3rd quarter valued at about $24,736,000. Finally, Sei Investments Co. purchased a new stake in shares of Immunovant in the 3rd quarter valued at about $733,000. Hedge funds and other institutional investors own 42.45% of the company’s stock. (Get Free Report Immunovant, Inc, a clinical-stage biopharmaceutical company, develops monoclonal antibodies for the treatment of autoimmune diseases. It develops batoclimab, a novel fully human monoclonal antibody that selectively binds to and inhibits the neonatal fragment crystallizable receptor, which is in Phase IIa clinical trials for the treatment of myasthenia gravis and thyroid eye disease, as well as completed initiation of Phase II clinical trials for the treatment of warm autoimmune hemolytic anemia. |
2024-11-22 | ETF Daily News | BCE Inc. (NYSE:BCE) Receives Consensus Recommendation of “Hold” from Brokerages | BCE Inc. (NYSE:BCE–Get Free Report) (TSE:BCE) has earned a consensus recommendation of “Hold” from the six ratings firms that are currently covering the stock,MarketBeatreports. Five analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $56.50. Several research firms have recently commented on BCE. TD Securities downgraded BCE from a “buy” rating to a “hold” rating in a report on Friday, September 1st.StockNews.combegan coverage on BCE in a report on Thursday, October 5th. They issued a “hold” rating on the stock. Canaccord Genuity Group upgraded BCE from a “hold” rating to a “buy” rating in a report on Monday, October 23rd. National Bank Financial upgraded BCE from a “sector perform overweight” rating to an “outperform overweight” rating in a report on Wednesday, August 23rd. Finally, JPMorgan Chase & Co. decreased their price objective on BCE from $62.00 to $59.00 and set a “neutral” rating on the stock in a report on Wednesday, October 18th. Read Our Latest Analysis on BCE Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverBCEopened at $39.37 on Wednesday. The company has a market cap of $35.91 billion, a P/E ratio of 21.75, a P/E/G ratio of 5.63 and a beta of 0.62. The business’s 50-day moving average price is $38.53 and its 200-day moving average price is $42.13. The company has a current ratio of 0.57, a quick ratio of 0.52 and a debt-to-equity ratio of 1.68. BCE has a 12 month low of $36.15 and a 12 month high of $48.38. The firm also recently announced a quarterly dividend, which will be paid on Monday, January 15th. Investors of record on Friday, December 15th will be paid a $0.6969 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $2.79 annualized dividend and a dividend yield of 7.08%. BCE’s payout ratio is presently 156.35%. Several large investors have recently bought and sold shares of the company. Tompkins Financial Corp boosted its position in BCE by 12,729.2% during the 3rd quarter. Tompkins Financial Corp now owns 64,146 shares of the utilities provider’s stock valued at $2,448,000 after acquiring an additional 63,646 shares in the last quarter. Belpointe Asset Management LLC boosted its position in BCE by 11.8% during the 3rd quarter. Belpointe Asset Management LLC now owns 7,853 shares of the utilities provider’s stock valued at $300,000 after acquiring an additional 826 shares in the last quarter. Integrated Wealth Concepts LLC boosted its position in BCE by 2.7% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 40,431 shares of the utilities provider’s stock valued at $1,543,000 after acquiring an additional 1,067 shares in the last quarter. Townsquare Capital LLC boosted its position in BCE by 1.3% during the 3rd quarter. Townsquare Capital LLC now owns 116,532 shares of the utilities provider’s stock valued at $4,448,000 after acquiring an additional 1,491 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in BCE by 20.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 11,007,473 shares of the utilities provider’s stock valued at $423,202,000 after acquiring an additional 1,893,418 shares in the last quarter. 42.30% of the stock is owned by institutional investors. (Get Free Report BCE Inc, a communications company, provides wireless, wireline, Internet, and television (TV) services to residential, business, and wholesale customers in Canada. The company operates through three segments: Bell Wireless, Bell Wireline, and Bell Media. The Bell Wireless segment offers integrated digital wireless voice and data communication products and services, as well as consumer electronics products. |
2024-11-22 | ETF Daily News | Box, Inc. (NYSE:BOX) Receives Average Recommendation of “Moderate Buy” from Analysts | Box, Inc. (NYSE:BOX–Get Free Report) has been given an average recommendation of “Moderate Buy” by the nine research firms that are presently covering the stock,Marketbeatreports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $32.25. Several analysts have recently weighed in on the stock. Royal Bank of Canada reaffirmed an “underperform” rating and set a $21.00 price objective on shares of BOX in a report on Thursday, October 12th. KeyCorp lowered their price target on shares of BOX from $35.00 to $33.00 and set an “overweight” rating for the company in a report on Wednesday, August 30th. Morgan Stanley lowered their price target on shares of BOX from $37.00 to $35.00 and set an “overweight” rating for the company in a report on Wednesday, August 30th. Oppenheimer reissued an “outperform” rating and issued a $35.00 price target on shares of BOX in a report on Wednesday, August 30th. Finally, Craig Hallum lowered shares of BOX from a “buy” rating to a “hold” rating in a report on Wednesday, August 30th. Check Out Our Latest Research Report on BOX Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverIn other BOX news, CEOAaron Leviesold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $25.70, for a total value of $257,000.00. Following the transaction, the chief executive officer now directly owns 3,068,653 shares of the company’s stock, valued at $78,864,382.10. The sale was disclosed in a legal filing with the SEC, which is available throughthis hyperlink. In other BOX news, CFODylan C. Smithsold 13,000 shares of BOX stock in a transaction on Friday, November 10th. The shares were sold at an average price of $25.30, for a total value of $328,900.00. Following the sale, the chief financial officer now directly owns 1,464,437 shares in the company, valued at approximately $37,050,256.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed throughthis link. Also, CEOAaron Leviesold 10,000 shares of the business’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $25.70, for a total transaction of $257,000.00. Following the transaction, the chief executive officer now owns 3,068,653 shares in the company, valued at $78,864,382.10. The disclosure for this sale can be foundhere. Over the last ninety days, insiders have sold 54,000 shares of company stock valued at $1,380,270. 4.90% of the stock is currently owned by insiders. A number of institutional investors and hedge funds have recently bought and sold shares of BOX. Tower Research Capital LLC TRC boosted its holdings in BOX by 12.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,097 shares of the software maker’s stock valued at $91,000 after purchasing an additional 343 shares during the period. Captrust Financial Advisors lifted its holdings in shares of BOX by 1.0% during the 4th quarter. Captrust Financial Advisors now owns 38,231 shares of the software maker’s stock worth $1,190,000 after acquiring an additional 369 shares during the period. American International Group Inc. lifted its holdings in shares of BOX by 0.6% during the 2nd quarter. American International Group Inc. now owns 67,902 shares of the software maker’s stock worth $1,995,000 after acquiring an additional 407 shares during the period. Metropolitan Life Insurance Co NY lifted its holdings in shares of BOX by 4.8% during the 4th quarter. Metropolitan Life Insurance Co NY now owns 8,823 shares of the software maker’s stock worth $275,000 after acquiring an additional 408 shares during the period. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its holdings in shares of BOX by 1.3% during the 3rd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 31,510 shares of the software maker’s stock worth $763,000 after acquiring an additional 408 shares during the period. Institutional investors and hedge funds own 87.90% of the company’s stock. NYSE BOXopened at $25.99 on Wednesday. The firm has a market cap of $3.74 billion, a price-to-earnings ratio of 136.79, a PEG ratio of 14.92 and a beta of 0.95. The company has a 50 day moving average of $24.97 and a 200-day moving average of $27.59. BOX has a 1-year low of $23.57 and a 1-year high of $34.98. BOX (NYSE:BOX–Get Free Report) last posted its quarterly earnings data on Tuesday, August 29th. The software maker reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.01. The company had revenue of $261.43 million during the quarter, compared to analyst estimates of $261.32 million. BOX had a net margin of 4.86% and a negative return on equity of 6.51%. The company’s revenue was up 6.3% on a year-over-year basis. During the same quarter last year, the business posted ($0.05) earnings per share. On average, analysts forecast that BOX will post 0.09 earnings per share for the current year. (Get Free Report Box, Inc provides a cloud content management platform that enables organizations of various sizes to manage and share their content from anywhere on any device. The company's Software-as-a-Service platform enables users to collaborate on content internally and with external parties, automate content-driven business processes, develop custom applications, and implement data protection, security, and compliance features to comply with legal and regulatory requirements, internal policies, and industry standards and regulations. |
2024-11-22 | ETF Daily News | Goosehead Insurance, Inc (NASDAQ:GSHD) Receives Average Recommendation of “Moderate Buy” from Analysts | Shares of Goosehead Insurance, Inc (NASDAQ:GSHD–Get Free Report) have earned a consensus recommendation of “Moderate Buy” from the six analysts that are presently covering the company,MarketBeat Ratingsreports. One analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $75.00. A number of analysts have recently issued reports on the company. BMO Capital Markets raised Goosehead Insurance from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $86.00 to $90.00 in a research report on Wednesday, September 20th. UBS Group assumed coverage on Goosehead Insurance in a research report on Tuesday, October 17th. They set a “buy” rating and a $84.00 target price on the stock. Royal Bank of Canada lifted their target price on Goosehead Insurance from $72.00 to $80.00 in a research report on Thursday, July 27th. Piper Sandler lifted their target price on Goosehead Insurance from $76.00 to $89.00 and gave the stock an “overweight” rating in a research report on Thursday, October 26th. Finally, JPMorgan Chase & Co. boosted their price objective on Goosehead Insurance from $58.00 to $60.00 and gave the company a “neutral” rating in a report on Monday, October 2nd. Read Our Latest Research Report on Goosehead Insurance Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverNASDAQ:GSHDopened at $71.34 on Wednesday. The business’s 50-day moving average is $71.74 and its two-hundred day moving average is $65.80. The company has a debt-to-equity ratio of 12.15, a current ratio of 1.74 and a quick ratio of 1.74. Goosehead Insurance has a 12 month low of $31.21 and a 12 month high of $79.40. The firm has a market capitalization of $2.70 billion, a PE ratio of 158.53, a price-to-earnings-growth ratio of 4.10 and a beta of 1.22. Goosehead Insurance (NASDAQ:GSHD–Get Free Report) last announced its earnings results on Wednesday, October 25th. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.15. Goosehead Insurance had a negative return on equity of 79.96% and a net margin of 4.31%. The business had revenue of $71.03 million for the quarter, compared to analyst estimates of $69.49 million. Research analysts predict that Goosehead Insurance will post 0.52 earnings per share for the current fiscal year. In related news, major shareholderCamille Petersonsold 3,500 shares of the business’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $74.42, for a total value of $260,470.00. Following the completion of the sale, the insider now directly owns 132,349 shares of the company’s stock, valued at $9,849,412.58. The sale was disclosed in a filing with the SEC, which can be accessed throughthis link. In other Goosehead Insurance news, major shareholder & Robyn Jones Descendants Mark sold 50,000 shares of Goosehead Insurance stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $68.83, for a total value of $3,441,500.00. Following the completion of the transaction, the insider now directly owns 132,349 shares in the company, valued at $9,109,581.67. The sale was disclosed in a legal filing with the SEC, which is accessible throughthis hyperlink. Also, major shareholderCamille Petersonsold 3,500 shares of Goosehead Insurance stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $74.42, for a total value of $260,470.00. Following the completion of the transaction, the insider now owns 132,349 shares of the company’s stock, valued at $9,849,412.58. The disclosure for this sale can be foundhere. Insiders sold a total of 189,787 shares of company stock valued at $13,480,088 over the last three months. 48.35% of the stock is owned by insiders. Hedge funds and other institutional investors have recently bought and sold shares of the stock. Cullen Frost Bankers Inc. acquired a new position in Goosehead Insurance in the second quarter valued at approximately $27,000. Harvest Fund Management Co. Ltd acquired a new position in Goosehead Insurance in the third quarter valued at approximately $37,000. Group One Trading L.P. acquired a new position in Goosehead Insurance in the first quarter valued at approximately $59,000. Pinebridge Investments L.P. acquired a new position in Goosehead Insurance in the second quarter valued at approximately $52,000. Finally, Signaturefd LLC boosted its position in shares of Goosehead Insurance by 100.9% during the second quarter. Signaturefd LLC now owns 866 shares of the company’s stock worth $54,000 after buying an additional 435 shares during the period. (Get Free Report Goosehead Insurance, Inc operates as a holding company for Goosehead Financial, LLC that provides personal lines insurance agency services in the United States. It offers homeowner's, automotive, dwelling property, flood, wind, earthquake, excess liability or umbrella, motorcycle, recreational vehicle, general liability, property, and life insurance products and services. |
2024-11-22 | Business Insider | WestJet lost a passenger's bag on a domestic flight in Canada. The passenger's AirTag shows it was in Jamaica. | A WestJet passenger said her suitcase ended up in Jamaica after the airline mishandled it on a domestic flight in Canada. It was anApple AirTagthat helped locate the bag,local broadcaster CityNews first reported. Lorraine Pedersen told Business Insider she traveled on a WestJet flight from Toronto to Winnipeg on October 23. But when she arrived in Winnipeg,less than 100 miles north of the Minnesota-North Dakota state border, her suitcase was nowhere to be found. "I was on a business trip and all my clothes were gone," Pedersen said. Pedersen told BI that she put an Airtag on her bag and it notified her that it was in Kingston, Jamaica. Pedersen said that when she asked WestJet where her bag was, they told her it wasn't in Jamaica as there were no flights from Toronto to Kingston that day. BI viewed a screenshot of the AirTag locating the bag. "They kept saying it wasn't their fault, they didn't get it there because they didn't fly in," Pedersen told BI. "I just wanted my suitcase back because my AirTag told me exactly where it was, and again WestJet did not believe me," Pedersen added. Pedersen later called Norman Manley International Airport in Kingston and found her bag had gone on a Swoop flight instead. Swoop is a subsidiary of Westjet. Pedersen said her bag was stuck in Jamaica for two weeks as Westjet rejected her request to transport it to Toronto, where she lives. "They told me to go buy enough clothes for every day, but they wouldn't cover the cost of all those clothes that I needed," Pedersen continued. WestJet did not respond to BI's request for comment. When Pedersen's suitcase arrived in Toronto, she said it appeared to have been broken into and noticed that several of her belongings were missing. Pedersen told CityNews that the sum of what was stolen and the clothes she purchased added up to some 4,000 Canadian dollars, or almost $3,000. Business Insider was unable to independently verify the value of Pedersen's belongings or purchases. "I was very hurt to know that my bag was rummaged through and stuff was stolen while it was in Jamaica," Pedersen told BI. WestJet confirmed to CityNews that the airline had mishandled Pedersen's suitcase. "Unfortunately, the bag was loaded in error and situations like this are extremely rare," WestJet told CityNews in a statement, adding that it compensated Pedersen with "the maximum liability." The report did not state how much Pedersen was compensated. TheCanadian Transportation Agency statesthat passengers can claim up to 2,350 Canadian dollars, or $1,712, from airlines to replace lost or damaged items. Pedersen told CityNews that WestJet had asked her to file a home insurance claim to receive compensation for her missing items. Pedersen told BI she does not plan to make the claim, as it could raise her insurance. "My biggest complaint against WestJet is that they did not take responsibility," Pedersen told BI. More passengers have been placing AirTags on their suitcases following several incidents of mishandled bags by airlines. In August, a passenger flew across the US andused an Airtag to track down her lost bag.In September, a man traveling from Oklahoma to Irelandfound his lost golfing gear with an Airtag. |
2024-11-22 | ETF Daily News | International Business Machines Co. (NYSE:IBM) Shares Acquired by Gabelli Funds LLC | Gabelli Funds LLC increased its position in shares of International Business Machines Co. (NYSE:IBM–Free Report) by 3.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,290 shares of the technology company’s stock after acquiring an additional 1,040 shares during the quarter. Gabelli Funds LLC’s holdings in International Business Machines were worth $4,455,000 as of its most recent SEC filing. A number of other large investors have also made changes to their positions in IBM. Fiduciary Alliance LLC acquired a new position in International Business Machines in the 2nd quarter valued at approximately $25,000. Live Oak Investment Partners acquired a new position in International Business Machines in the 4th quarter valued at approximately $30,000. GW&K Investment Management LLC acquired a new position in International Business Machines in the 1st quarter valued at approximately $33,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in International Business Machines in the 2nd quarter valued at approximately $34,000. Finally, Pacific Center for Financial Services acquired a new position in International Business Machines in the 1st quarter valued at approximately $41,000. Institutional investors and hedge funds own 56.16% of the company’s stock. Several research analysts have recently commented on the stock. Morgan Stanley dropped their price target on shares of International Business Machines from $135.00 to $130.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 17th. BMO Capital Markets increased their price target on shares of International Business Machines from $152.00 to $155.00 and gave the stock a “market perform” rating in a research note on Thursday, October 26th.StockNews.comupgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a research note on Tuesday. Royal Bank of Canada dropped their price target on shares of International Business Machines from $188.00 to $179.00 and set an “outperform” rating on the stock in a research note on Thursday, October 26th. Finally, Wedbush restated a “neutral” rating and set a $140.00 price target on shares of International Business Machines in a research note on Monday, November 13th. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $149.09. Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverRead Our Latest Research Report on International Business Machines NYSE IBMopened at $153.92 on Wednesday. The company has a debt-to-equity ratio of 2.11, a current ratio of 0.91 and a quick ratio of 0.86. The firm has a market capitalization of $140.55 billion, a price-to-earnings ratio of 20.41, a P/E/G ratio of 4.21 and a beta of 0.76. The company’s fifty day moving average is $144.60 and its two-hundred day moving average is $139.41. International Business Machines Co. has a 52-week low of $120.55 and a 52-week high of $154.68. International Business Machines (NYSE:IBM–Get Free Report) last posted its quarterly earnings results on Wednesday, October 25th. The technology company reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.08. International Business Machines had a net margin of 11.32% and a return on equity of 38.51%. The company had revenue of $14.75 billion for the quarter, compared to analyst estimates of $14.73 billion. During the same period last year, the business posted $1.81 EPS. The business’s quarterly revenue was up 4.6% on a year-over-year basis. Equities research analysts forecast that International Business Machines Co. will post 9.45 EPS for the current year. The firm also recently declared a quarterly dividend, which will be paid on Saturday, December 9th. Stockholders of record on Friday, November 10th will be given a dividend of $1.66 per share. This represents a $6.64 annualized dividend and a dividend yield of 4.31%. The ex-dividend date is Thursday, November 9th. International Business Machines’s dividend payout ratio is 88.06%. (Free Report) International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through four business segments: Software, Consulting, Infrastructure, and Financing. The Software segment offers hybrid cloud platform and software solutions; software for business automation, AIOps and management, integration, and application servers; data and artificial intelligence solutions; and security software and services for threat, data, and identity. |
2024-11-22 | ETF Daily News | Markel Group (NYSE:MKL) Now Covered by Citigroup | Research analysts at Citigroup assumed coverage on shares ofMarkel Group (NYSE:MKL–Get Free Report)in a research report issued to clients and investors on Wednesday,Briefing.comreports. The brokerage set a “sell” rating and a $1,275.00 price target on the insurance provider’s stock. Citigroup’s price target points to a potential downside of 11.16% from the stock’s current price. Other equities analysts have also recently issued reports about the company.StockNews.comcut Markel Group from a “buy” rating to a “hold” rating in a report on Friday, November 3rd. Truist Financial lowered their target price on Markel Group from $1,550.00 to $1,400.00 and set a “hold” rating for the company in a report on Friday, November 3rd. Royal Bank of Canada decreased their price objective on Markel Group from $1,650.00 to $1,425.00 and set an “outperform” rating for the company in a research note on Friday, November 3rd. Finally, Jefferies Financial Group started coverage on Markel Group in a research note on Thursday, September 7th. They issued a “buy” rating and a $1,750.00 price objective for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Markel Group presently has an average rating of “Hold” and an average target price of $1,480.00. Check Out Our Latest Research Report on MKL Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverShares ofMarkel Group stockopened at $1,435.10 on Wednesday. The business has a 50-day moving average of $1,452.04 and a 200 day moving average of $1,421.16. Markel Group has a 12 month low of $1,186.56 and a 12 month high of $1,560.00. The stock has a market capitalization of $18.97 billion, a price-to-earnings ratio of 10.28 and a beta of 0.75. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.63 and a quick ratio of 0.63. In related news, CEOThomas Sinnickson Gayneracquired 100 shares of the firm’s stock in a transaction dated Friday, November 3rd. The stock was acquired at an average price of $1,311.92 per share, for a total transaction of $131,192.00. Following the purchase, the chief executive officer now owns 44,985 shares of the company’s stock, valued at approximately $59,016,721.20. The transaction was disclosed in a filing with the SEC, which can be accessed throughthis link. In other Markel Group news, DirectorA. Lynne Puckettbought 76 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The stock was purchased at an average price of $1,321.47 per share, for a total transaction of $100,431.72. Following the completion of the purchase, the director now directly owns 1,320 shares in the company, valued at $1,744,340.40. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available throughthis link. Also, CEOThomas Sinnickson Gaynerbought 100 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The shares were acquired at an average price of $1,311.92 per share, with a total value of $131,192.00. Following the purchase, the chief executive officer now owns 44,985 shares of the company’s stock, valued at $59,016,721.20. The disclosure for this purchase can be foundhere. In the last quarter, insiders purchased 222 shares of company stock worth $295,861 and sold 1,048 shares worth $1,544,641. Company insiders own 1.75% of the company’s stock. Several institutional investors have recently added to or reduced their stakes in MKL. Allen Mooney & Barnes Investment Advisors LLC acquired a new position in Markel Group during the third quarter worth approximately $1,496,000. Comerica Bank acquired a new position in Markel Group during the third quarter worth approximately $4,861,000. Creative Planning increased its position in Markel Group by 5.0% during the third quarter. Creative Planning now owns 3,812 shares of the insurance provider’s stock worth $5,613,000 after buying an additional 183 shares during the period. Monograph Wealth Advisors LLC acquired a new position in Markel Group during the third quarter worth approximately $663,000. Finally, Morgan Stanley increased its position in Markel Group by 3.2% during the third quarter. Morgan Stanley now owns 539,207 shares of the insurance provider’s stock worth $793,979,000 after buying an additional 16,597 shares during the period. Hedge funds and other institutional investors own 76.96% of the company’s stock. (Get Free Report) Markel Group Inc, a diverse financial holding company, engages in marketing and underwriting specialty insurance products in the United States, Bermuda, the United Kingdom, rest of Europe, Canada, the Asia Pacific, and the Middle East. The company offers general and professional liability, personal lines, marine and energy, specialty programs, and workers' compensation insurance products; and property coverages that include fire, allied lines, and other specialized property coverages, including catastrophe-exposed property risks, such as earthquake and wind. |
2024-11-23 | The Times of India | Global stock indexes forecast to rise modestly in 2024 | Reuters Most key global stock indexes are forecast to rise modestly over the coming year, closing 2024 below record highs , while a slim majority of stock market experts polled by Reuters expected their markets to touch new peaks within the next six months. Much will depend on interest rate expectations now central banks are mostly done with a season of aggressive rate rises since the COVID pandemic to dampen a burst of inflation still not completely under control. Traders and analysts mostly assume the U.S. Federal Reserve will be cutting interest rates by the middle of next year, an outcome that is far from certain and does not clearly align with policy statements from top central bankers. Those rate cut expectations are partly behind the views of a slim majority of survey respondents, 46 of 82, who said most key indexes would reclaim record highs by then. However, only a handful of the 15 top stock indexes were predicted to trade at record peaks by end-2024, based on a wider Nov. 9-22 poll of more than 120 stock market experts. "After two straight quarters recommending cash over stocks and bonds, we now expect equities to eke out high single-digit returns in 2024 and outperform core fixed income," noted Ajay Rajadhyaksha, global chairman of research at Barclays. "Yes, we expect the economy to grow more slowly next year, in both real and nominal terms...But the downside risks to the world economy have diminished greatly. We think stocks will benefit from a fairly benign bottom to this business cycle." A strong majority of respondents, 72 of 85, expected corporate earnings in their local market to increase over the coming six months. The remaining 13 said they would decrease. Despite high interest rates, cooling global inflation, and with it, economic activity, only a slim majority of respondents, 44 of 80, said value stocks would outperform growth stocks over the next six months. LOWER BOND YIELDS For now, markets are pricing in a series of 2024 rate cuts, which is sending bond yields lower and stock prices higher. U.S. 10-year Treasury note yields breached 5.00% last month for the first time since July 2007 but are not expected to revisit that level according to a separate Reuters poll of bond strategists who were proven wrong on the same call for three straight months. Lower bond yields will likely be required to further any expected gains in stocks, as they had reached a point where investors had got used to years of paltry yields but now represent good value along with security. But it is not at all guaranteed that trend will continue, having fallen around 60 basis points on U.S. 10-year yields in the last few weeks alone. "Falling bond yields are being interpreted by equity markets as a positive in the near-term," said Marko Kolanovic, chief global markets strategist at J.P. Morgan. "However, we believe that equities will soon revert back to an unattractive risk-reward as the Fed is set to remain higher for longer, valuations are rich, earnings expectations remain too optimistic, pricing power is waning, profit margins are at risk and the slowdown in topline growth is set to continue." The benchmark S&P 500 index was forecast to finish next year at 4,700, only about 3% higher from its Monday close, with a possible U.S. economic slowdown or recession among the biggest risks for the market in 2024. European equity markets were also expected to eke out modest gains in 2024 as optimism global interest rates have peaked is offset by worries the economy could fall into a recession. The pan-European benchmark STOXX 600 index was forecast to rise 4.1% to 475 points by the end of next year, from Monday's close at 456.26. Canada's main stock index was expected to rise less than previously thought over the coming year as a slowdown in the global economy weighs on the outlook for corporate earnings. Among the indices surveyed Japan's Nikkei 225 and India's BSE index were expected to continue their strong performance into the next year with the Nikkei expected to reach a three-decade high of 35,000 by end-June of next year and the BSE forecast to hit new highs in 2024. Connect with Experts - Wealth creation made easy Experience Your Economic Times Newspaper, The Digital Way! Thursday, 23 Nov, 2023 Read Complete ePaper » Digital View Print View Wealth Edition Initial Market Reaction: IPOs Turn Superhits, Led by Big Tata Release The initial public offering (IPO) market is in an unprecedented bull wave. Three of the four IPOs — Tata Technologies, Flair Writing Industries, and Gandhar Oil Refinery — which opened on Wednesday were fully subscribed within hours of opening. IndiGo Checks in with Ease of Flying Business IndiGo may introduce a premium class of seats along with hot food and a loyalty programme by the end of 2024, as India’s largest airline looks to court more business flyers and rival Air India on international routes, said people with knowledge of the matter. Quickest Way to Get Defaulters to Pay Up? Threat of Insolvency Creditors have withdrawn 26,518 insolvency cases involving defaults of as much as ₹9.33 lakh crore before their applications were admitted by the adjudicating authority since the Insolvency and Bankruptcy Code (IBC) came into force. Read More News on India stocks highs Stock Market Index Stocks (What's moving Sensex and Nifty Track latest market news , stock tips and expert advice on ETMarkets . Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Download The Economic Times News App to get Daily Market Updates & Live Business News. Read Economic Times Epaper . Top Trending Stocks: SBI Share Price , Axis Bank Share Price , HDFC Bank Share Price , Infosys Share Price , Wipro Share Price , NTPC Share Price ... more less Pick the best stocks for yourself
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2024-11-23 | ETF Daily News | Petco Health and Wellness Company, Inc. (NASDAQ:WOOF) Receives $8.67 Average Price Target from Analysts | Petco Health and Wellness Company, Inc. (NASDAQ:WOOF–Get Free Report) has been assigned an average recommendation of “Moderate Buy” from the thirteen analysts that are covering the company,MarketBeat Ratingsreports. Six analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $8.67. A number of brokerages recently commented on WOOF. Needham & Company LLC dropped their target price on Petco Health and Wellness from $12.00 to $8.00 and set a “buy” rating on the stock in a research report on Friday, August 25th.StockNews.comassumed coverage on Petco Health and Wellness in a research report on Thursday, October 5th. They issued a “hold” rating on the stock. Evercore ISI upped their price objective on Petco Health and Wellness from $6.00 to $8.00 and gave the stock an “in-line” rating in a research report on Friday, September 8th. Royal Bank of Canada lowered their price objective on Petco Health and Wellness from $10.00 to $7.00 and set an “outperform” rating on the stock in a research report on Friday, August 25th. Finally, Wolfe Research assumed coverage on Petco Health and Wellness in a research report on Friday, September 29th. They issued a “peer perform” rating on the stock. Get Our Latest Research Report on WOOF Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverA number of hedge funds and other institutional investors have recently made changes to their positions in WOOF. Mackenzie Financial Corp acquired a new position in Petco Health and Wellness in the 1st quarter valued at $128,843,000. Millennium Management LLC raised its stake in Petco Health and Wellness by 2,109.0% in the 4th quarter. Millennium Management LLC now owns 4,305,037 shares of the company’s stock valued at $40,812,000 after purchasing an additional 4,110,147 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Petco Health and Wellness by 598.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,142,382 shares of the company’s stock valued at $27,966,000 after purchasing an additional 2,692,542 shares during the last quarter. Intrinsic Edge Capital Management LLC acquired a new position in Petco Health and Wellness in the 2nd quarter valued at $21,579,000. Finally, Norges Bank acquired a new position in Petco Health and Wellness in the 4th quarter valued at $21,521,000. Hedge funds and other institutional investors own 48.54% of the company’s stock. WOOFopened at $3.87 on Thursday. The firm’s 50-day moving average price is $3.68 and its 200-day moving average price is $6.45. The company has a market cap of $1.18 billion, a P/E ratio of 29.77, a price-to-earnings-growth ratio of 27.27 and a beta of 1.30. Petco Health and Wellness has a 52-week low of $3.06 and a 52-week high of $12.57. The company has a quick ratio of 0.33, a current ratio of 0.95 and a debt-to-equity ratio of 0.66. Petco Health and Wellness (NASDAQ:WOOF–Get Free Report) last issued its earnings results on Thursday, August 24th. The company reported $0.06 EPS for the quarter, meeting analysts’ consensus estimates of $0.06. The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.52 billion. Petco Health and Wellness had a return on equity of 3.17% and a net margin of 0.59%. Petco Health and Wellness’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.14 earnings per share. As a group, equities analysts anticipate that Petco Health and Wellness will post 0.06 EPS for the current fiscal year. (Get Free Report Petco Health and Wellness Company, Inc, operates as a health and wellness company, focuses on enhancing the lives of pets, pet parents, and its Petco partners in the United States, Mexico, and Puerto Rico. The company provides veterinary care, grooming, training, tele-health, and Vital Care and pet health insurance services, as well as veterinary services through Vetco mobile clinics. |
2024-11-23 | ETF Daily News | Phreesia (NYSE:PHR) versus LifeMD (NASDAQ:LFMDP) Head to Head Comparison | Phreesia (NYSE:PHR–Get Free Report) and LifeMD (NASDAQ:LFMDP–Get Free Report) are both medical companies, but which is the better investment? We will contrast the two businesses based on the strength of their profitability, dividends, institutional ownership, risk, valuation, analyst recommendations and earnings. 94.4% of Phreesia shares are owned by institutional investors. 5.8% of Phreesia shares are owned by company insiders. Strong institutional ownership is an indication that endowments, large money managers and hedge funds believe a stock is poised for long-term growth. This table compares Phreesia and LifeMD’s net margins, return on equity and return on assets. Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverThis is a summary of recent recommendations and price targets for Phreesia and LifeMD, as provided by MarketBeat.com. Phreesia presently has a consensus price target of $37.15, indicating a potential upside of 138.17%. Given Phreesia’s higher possible upside, research analysts plainly believe Phreesia is more favorable than LifeMD. This table compares Phreesia and LifeMD’s top-line revenue, earnings per share (EPS) and valuation. LifeMD has lower revenue, but higher earnings than Phreesia. Phreesia beats LifeMD on 5 of the 8 factors compared between the two stocks. (Get Free Report) Phreesia, Inc. provides an integrated SaaS-based software and payment platform for the healthcare industry in the United States and Canada. Its Phreesia Platform offers access solutions that offers appointment scheduling system for online appointments, reminders, and referral tracking; registration solution to automate patient self-registration; revenue cycle solution, which offer insurance-verification processes, point-of-sale payments applications, post-visit payment collection, and flexible payment options; and network connect solution to deliver clinically relevant content to patients. The company deploys its platform in a range of modalities, such as Phreesia Mobile, a patients' mobile device; Phreesia Dashboard, a web-based dashboard for healthcare services clients; PhreesiaPads, a self-service intake tablets; and Arrivals Kiosks, an on-site kiosks. It serves patients; single-specialty practices, multi-specialty groups, and health systems; and pharmaceutical, medical device, and biotechnology companies. The company was incorporated in 2005 and is headquartered in Wilmington, Delaware. (Get Free Report) LifeMD, Inc. operates as a direct-to-patient telehealth company that connects consumers to healthcare professionals for care across various indications, including urgent and primary care, men's and women's health, and dermatology, chronic care management, and others in the United States. The company provides ShapiroMD, a telehealth platform brand that offers access to virtual medical treatment, prescription medications, patented doctor formulated OTC products, topical compounded medications, and food and drug administration approved medical device for male and female hair loss; RexMD, a men's telehealth brand that offers virtual medical treatment from licensed providers for a variety of men's health needs; LifeMD Primary Care, a virtual primary care platform that provides patients with primary care, urgent care, and chronic care needs, as well as offers a mobile first platform that incorporates virtual consultations and treatment, prescription medications, diagnostics, and imaging; Cleared, a telehealth brand that provides personalized treatments for allergy, asthma, and immunology; and NavaMD, a female-oriented and tele-dermatology brand that offers virtual medical treatment from dermatologists and other providers. It also offers PDFSimpli, an online software-as-a-service platform that allows users to create, edit, convert, sign, and share PDF documents. The company sells its products directly to consumers and through e-commerce platforms, as well as through third party partner channels. The company was formerly known as Conversion Labs, Inc. and changed its name to LifeMD, Inc. in February 2021. LifeMD, Inc. was founded in 1994 and is headquartered in New York, New York. |
2024-11-23 | ETF Daily News | The Vita Coco Company, Inc. (NASDAQ:COCO) Receives $27.50 Average PT from Analysts | Shares of The Vita Coco Company, Inc. (NASDAQ:COCO–Get Free Report) have earned an average recommendation of “Moderate Buy” from the nine analysts that are covering the company,Marketbeat.comreports. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $27.50. A number of analysts have weighed in on COCO shares. Jefferies Financial Group started coverage on shares of Vita Coco in a research report on Monday, November 13th. They issued a “buy” rating and a $33.00 target price on the stock. TheStreet upgraded shares of Vita Coco from a “c” rating to a “b-” rating in a report on Friday, October 20th. The Goldman Sachs Group lifted their price target on shares of Vita Coco from $27.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, August 3rd. Bank of America cut their price target on shares of Vita Coco from $32.00 to $29.00 and set a “neutral” rating on the stock in a report on Tuesday, October 17th. Finally, Piper Sandler lifted their price target on shares of Vita Coco from $32.00 to $35.00 and gave the stock an “overweight” rating in a report on Wednesday, November 1st. Check Out Our Latest Stock Analysis on Vita Coco Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverShares ofVita Coco stockopened at $29.03 on Thursday. Vita Coco has a fifty-two week low of $10.65 and a fifty-two week high of $33.29. The firm has a market capitalization of $1.65 billion, a P/E ratio of 45.36 and a beta of 0.15. The company’s 50 day moving average price is $26.91 and its two-hundred day moving average price is $26.70. Vita Coco (NASDAQ:COCO–Get Free Report) last issued its earnings results on Tuesday, October 31st. The company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.02. Vita Coco had a net margin of 7.73% and a return on equity of 23.93%. The firm had revenue of $138.00 million for the quarter, compared to analyst estimates of $139.05 million. During the same quarter last year, the business posted $0.13 earnings per share. The company’s quarterly revenue was up 11.3% on a year-over-year basis. On average, analysts expect that Vita Coco will post 0.79 earnings per share for the current year. In related news, CMO Jane Prior sold 34,746 shares of Vita Coco stock in a transaction on Tuesday, September 19th. The shares were sold at an average price of $27.06, for a total transaction of $940,226.76. Following the completion of the transaction, the chief marketing officer now owns 123,098 shares of the company’s stock, valued at $3,331,031.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available throughthis link. In other Vita Coco news, insider Es Charles Van sold 45,315 shares of Vita Coco stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $29.59, for a total value of $1,340,870.85. Following the completion of the sale, the insider now directly owns 93,258 shares of the company’s stock, valued at $2,759,504.22. The transaction was disclosed in a legal filing with the SEC, which is available atthe SEC website. Also, CMO Jane Prior sold 34,746 shares of Vita Coco stock in a transaction on Tuesday, September 19th. The shares were sold at an average price of $27.06, for a total transaction of $940,226.76. Following the completion of the sale, the chief marketing officer now directly owns 123,098 shares of the company’s stock, valued at $3,331,031.88. The disclosure for this sale can be foundhere. Insiders sold 4,283,446 shares of company stock valued at $118,714,589 over the last quarter. Insiders own 51.10% of the company’s stock. Several hedge funds and other institutional investors have recently bought and sold shares of the stock. AQR Capital Management LLC increased its stake in Vita Coco by 0.4% in the third quarter. AQR Capital Management LLC now owns 86,387 shares of the company’s stock valued at $2,250,000 after purchasing an additional 374 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in Vita Coco by 66.4% in the second quarter. Tower Research Capital LLC TRC now owns 1,404 shares of the company’s stock valued at $38,000 after purchasing an additional 560 shares in the last quarter. HighTower Advisors LLC increased its stake in Vita Coco by 0.5% in the third quarter. HighTower Advisors LLC now owns 127,316 shares of the company’s stock valued at $3,314,000 after purchasing an additional 618 shares in the last quarter. Squarepoint Ops LLC increased its stake in Vita Coco by 6.0% in the first quarter. Squarepoint Ops LLC now owns 11,004 shares of the company’s stock valued at $216,000 after purchasing an additional 626 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in shares of Vita Coco by 5.9% during the fourth quarter. The Manufacturers Life Insurance Company now owns 11,403 shares of the company’s stock worth $158,000 after acquiring an additional 638 shares in the last quarter. 42.33% of the stock is owned by institutional investors. (Get Free Report The Vita Coco Company, Inc develops, markets, and distributes coconut water products under the Vita Coco brand name in the United States, Canada, Europe, the Middle East, and the Asia Pacific. The company offers coconut oil and coconut milk; Hydration Drink Mix, a powdered form of flavored coconut water; sparkling water; Runa, a plant-based energy drink; purified water under the Ever & Ever brand name; and PWR LIFT, a protein-infused fitness drink. |
2024-11-23 | ETF Daily News | Metropolitan Life Insurance Co NY Sells 231 Shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE) | Metropolitan Life Insurance Co NY lessened its position in Alexandria Real Estate Equities, Inc. (NYSE:ARE–Free Report) by 1.9% during the second quarter,Holdings Channel.comreports. The fund owned 11,670 shares of the real estate investment trust’s stock after selling 231 shares during the period. Metropolitan Life Insurance Co NY’s holdings in Alexandria Real Estate Equities were worth $1,324,000 at the end of the most recent quarter. A number of other large investors have also added to or reduced their stakes in ARE. BlackRock Inc. boosted its stake in shares of Alexandria Real Estate Equities by 8.5% during the 1st quarter. BlackRock Inc. now owns 17,138,718 shares of the real estate investment trust’s stock valued at $2,152,452,000 after purchasing an additional 1,338,634 shares in the last quarter. Norges Bank purchased a new position in shares of Alexandria Real Estate Equities during the fourth quarter valued at about $2,277,135,000. State Street Corp increased its position in shares of Alexandria Real Estate Equities by 4.2% during the first quarter. State Street Corp now owns 10,640,279 shares of the real estate investment trust’s stock valued at $1,348,934,000 after buying an additional 424,932 shares during the period. Principal Financial Group Inc. increased its position in shares of Alexandria Real Estate Equities by 7.2% during the second quarter. Principal Financial Group Inc. now owns 6,417,616 shares of the real estate investment trust’s stock valued at $728,340,000 after buying an additional 433,107 shares during the period. Finally, Victory Capital Management Inc. increased its position in shares of Alexandria Real Estate Equities by 10.6% during the second quarter. Victory Capital Management Inc. now owns 3,866,714 shares of the real estate investment trust’s stock valued at $438,833,000 after buying an additional 369,703 shares during the period. Institutional investors own 86.36% of the company’s stock. Several brokerages recently issued reports on ARE. Royal Bank of Canada reduced their price target on shares of Alexandria Real Estate Equities from $163.00 to $138.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 10th.StockNews.combegan coverage on shares of Alexandria Real Estate Equities in a research report on Thursday, October 5th. They set a “sell” rating on the stock. JMP Securities reduced their price target on shares of Alexandria Real Estate Equities from $180.00 to $160.00 and set a “market outperform” rating on the stock in a research report on Wednesday, July 26th. Wedbush reiterated an “outperform” rating and set a $120.00 price target on shares of Alexandria Real Estate Equities in a research report on Tuesday, October 24th. Finally, Evercore ISI dropped their price objective on shares of Alexandria Real Estate Equities from $137.00 to $135.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 16th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Alexandria Real Estate Equities currently has a consensus rating of “Moderate Buy” and an average price target of $144.33. Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverView Our Latest Stock Analysis on Alexandria Real Estate Equities In other news, major shareholder Real Estate Equitie Alexandria sold 103,808 shares of the company’s stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $2.32, for a total value of $240,834.56. Following the transaction, the insider now owns 5,723,527 shares in the company, valued at $13,278,582.64. The sale was disclosed in a legal filing with the SEC, which is available atthis link. Insiders own 0.96% of the company’s stock. NYSE:AREopened at $104.59 on Thursday. Alexandria Real Estate Equities, Inc. has a one year low of $90.73 and a one year high of $172.65. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.22 and a quick ratio of 0.22. The company’s 50-day simple moving average is $100.15 and its 200 day simple moving average is $111.60. The firm has a market capitalization of $18.18 billion, a P/E ratio of 75.24, a PEG ratio of 2.11 and a beta of 1.00. The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 13th. Investors of record on Friday, September 29th were paid a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a yield of 4.74%. The ex-dividend date was Thursday, September 28th. Alexandria Real Estate Equities’s payout ratio is currently 356.83%. (Free Report) Alexandria Real Estate Equities, Inc (NYSE: ARE), an S&P 500 company, is a best-in-class, mission-driven life science REIT making a positive and lasting impact on the world. As the pioneer of the life science real estate niche since our founding in 1994, Alexandria is the preeminent and longest-tenured owner, operator, and developer of collaborative life science, agtech, and advanced technology mega campuses in AAA innovation cluster locations, including Greater Boston, the San Francisco Bay Area, New York City, San Diego, Seattle, Maryland, and Research Triangle. Want to see what other hedge funds are holding ARE?Visit HoldingsChannel.comto get the latest 13F filings and insider trades for Alexandria Real Estate Equities, Inc. (NYSE:ARE–Free Report). |
2024-11-23 | ETF Daily News | Brokerages Set FormFactor, Inc. (NASDAQ:FORM) Target Price at $39.67 | Shares of FormFactor, Inc. (NASDAQ:FORM–Get Free Report) have been given an average rating of “Hold” by the eight analysts that are presently covering the firm,Marketbeat Ratingsreports. Five analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $39.67. A number of brokerages recently commented on FORM. Northland Securities boosted their price objective on shares of FormFactor from $32.00 to $35.00 in a research report on Thursday, August 3rd.StockNews.combegan coverage on shares of FormFactor in a research report on Thursday, October 5th. They set a “hold” rating on the stock. DA Davidson boosted their price objective on shares of FormFactor from $32.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, August 3rd. Craig Hallum boosted their price objective on shares of FormFactor from $40.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, August 3rd. Finally, Stifel Nicolaus boosted their price objective on shares of FormFactor from $30.00 to $35.00 and gave the company a “hold” rating in a research report on Wednesday, August 2nd. View Our Latest Analysis on FORM Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverFORM stockopened at $37.99 on Thursday. FormFactor has a 52-week low of $20.94 and a 52-week high of $39.76. The company’s 50 day simple moving average is $34.59 and its 200-day simple moving average is $33.16. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.91 and a quick ratio of 3.05. The firm has a market capitalization of $2.95 billion, a P/E ratio of -422.11 and a beta of 1.20. FormFactor (NASDAQ:FORM–Get Free Report) last released its quarterly earnings results on Wednesday, November 1st. The semiconductor company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.02. FormFactor had a negative net margin of 1.09% and a positive return on equity of 1.24%. The business had revenue of $171.58 million for the quarter, compared to analyst estimates of $167.34 million. As a group, equities research analysts anticipate that FormFactor will post 0.28 EPS for the current year. In other news, CFOShai Shaharsold 16,618 shares of the company’s stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $39.49, for a total value of $656,244.82. Following the sale, the chief financial officer now owns 77,941 shares of the company’s stock, valued at approximately $3,077,890.09. The transaction was disclosed in a legal filing with the SEC, which can be accessed throughthe SEC website. In other FormFactor news, DirectorDennis Thomas Stsold 3,792 shares of the stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $38.24, for a total transaction of $145,006.08. Following the sale, the director now owns 38,701 shares of the company’s stock, valued at approximately $1,479,926.24. The sale was disclosed in a legal filing with the SEC, which can be accessed throughthis hyperlink. Also, CFOShai Shaharsold 16,618 shares of the stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $39.49, for a total transaction of $656,244.82. Following the sale, the chief financial officer now directly owns 77,941 shares in the company, valued at approximately $3,077,890.09. The disclosure for this sale can be foundhere. In the last quarter, insiders have sold 31,396 shares of company stock valued at $1,185,981. 1.03% of the stock is owned by insiders. A number of hedge funds have recently added to or reduced their stakes in the stock. Comerica Bank bought a new stake in FormFactor during the 3rd quarter worth about $1,380,000. Tudor Investment Corp Et Al raised its position in shares of FormFactor by 368.7% in the 3rd quarter. Tudor Investment Corp Et Al now owns 83,760 shares of the semiconductor company’s stock valued at $2,927,000 after acquiring an additional 65,889 shares during the period. Morgan Stanley raised its position in shares of FormFactor by 20.7% in the 3rd quarter. Morgan Stanley now owns 921,276 shares of the semiconductor company’s stock valued at $32,189,000 after acquiring an additional 158,065 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of FormFactor by 25.5% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 39,317 shares of the semiconductor company’s stock valued at $1,374,000 after acquiring an additional 7,986 shares during the period. Finally, Royal Bank of Canada raised its position in shares of FormFactor by 13.1% in the 3rd quarter. Royal Bank of Canada now owns 715,658 shares of the semiconductor company’s stock valued at $25,006,000 after acquiring an additional 82,759 shares during the period. Institutional investors own 93.64% of the company’s stock. (Get Free Report FormFactor, Inc designs, manufactures, and sells probe cards, analytical probes, probe stations, metrology systems, thermal systems, and cryogenic systems to semiconductor companies and scientific institutions. It operates in two segments, Probe Cards and Systems. The company offers probe cards to test various semiconductor device types, including systems on a chip products, mobile application processors, microprocessors, microcontrollers, and graphic processors, as well as radio frequency, analog, mixed signal, image sensor, electro-optical, dynamic random access memory, NAND flash memory, and NOR flash memory devices; and analytical probes, which are used for a range of applications, including device characterization, electrical simulation model development, failure analysis, and prototype design debugging for universities, research institutions, semiconductor integrated device manufacturers, semiconductor foundries, and fabless semiconductor companies. |
2024-11-23 | ETF Daily News | Metropolitan Life Insurance Co NY Sells 134 Shares of Equifax Inc. (NYSE:EFX) | Metropolitan Life Insurance Co NY reduced its holdings in shares of Equifax Inc. (NYSE:EFX–Free Report) by 2.4% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,345 shares of the credit services provider’s stock after selling 134 shares during the period. Metropolitan Life Insurance Co NY’s holdings in Equifax were worth $1,258,000 at the end of the most recent reporting period. Several other institutional investors have also made changes to their positions in the business. Great West Life Assurance Co. Can boosted its position in shares of Equifax by 1.6% during the 2nd quarter. Great West Life Assurance Co. Can now owns 79,376 shares of the credit services provider’s stock valued at $18,767,000 after acquiring an additional 1,259 shares in the last quarter. ProShare Advisors LLC boosted its position in shares of Equifax by 2.8% during the 2nd quarter. ProShare Advisors LLC now owns 18,590 shares of the credit services provider’s stock valued at $4,374,000 after acquiring an additional 505 shares in the last quarter. Profund Advisors LLC boosted its position in shares of Equifax by 9.1% during the 2nd quarter. Profund Advisors LLC now owns 1,456 shares of the credit services provider’s stock valued at $343,000 after acquiring an additional 122 shares in the last quarter. Personal CFO Solutions LLC acquired a new stake in shares of Equifax during the 2nd quarter valued at about $236,000. Finally, Commonwealth Equity Services LLC boosted its position in shares of Equifax by 2.2% during the 2nd quarter. Commonwealth Equity Services LLC now owns 14,681 shares of the credit services provider’s stock valued at $3,455,000 after acquiring an additional 319 shares in the last quarter. 98.37% of the stock is currently owned by institutional investors and hedge funds. EFXopened at $210.54 on Thursday. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market cap of $25.94 billion, a price-to-earnings ratio of 49.89, a price-to-earnings-growth ratio of 3.05 and a beta of 1.41. The firm has a 50 day simple moving average of $184.23 and a 200 day simple moving average of $202.39. Equifax Inc. has a fifty-two week low of $159.95 and a fifty-two week high of $240.35. Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverEquifax (NYSE:EFX–Get Free Report) last posted its quarterly earnings results on Thursday, October 19th. The credit services provider reported $1.76 earnings per share for the quarter, missing analysts’ consensus estimates of $1.78 by ($0.02). The business had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.33 billion. Equifax had a return on equity of 19.15% and a net margin of 10.15%. The company’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period last year, the firm earned $1.73 earnings per share. On average, sell-side analysts anticipate that Equifax Inc. will post 6.63 earnings per share for the current year. The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, November 24th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.74%. The ex-dividend date is Wednesday, November 22nd. Equifax’s payout ratio is presently 36.97%. In other Equifax news, EVP Bryson R. Koehler sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $200.00, for a total value of $2,000,000.00. Following the completion of the sale, the executive vice president now owns 18,310 shares of the company’s stock, valued at $3,662,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed throughthe SEC website. In other Equifax news, EVPBryson R. Koehlersold 10,000 shares of the company’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $200.00, for a total value of $2,000,000.00. Following the completion of the sale, the executive vice president now owns 18,310 shares of the company’s stock, valued at $3,662,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed throughthe SEC website. Also, Director Melissa D. Smith bought 914 shares of the stock in a transaction on Thursday, October 26th. The stock was purchased at an average cost of $166.27 per share, with a total value of $151,970.78. Following the purchase, the director now directly owns 1,586 shares of the company’s stock, valued at approximately $263,704.22. The disclosure for this purchase can be foundhere. Insiders own 1.57% of the company’s stock. A number of equities analysts have commented on EFX shares. Needham & Company LLC reduced their price target on shares of Equifax from $250.00 to $230.00 and set a “buy” rating on the stock in a research report on Thursday, October 19th.StockNews.comstarted coverage on shares of Equifax in a research report on Thursday, October 5th. They issued a “hold” rating on the stock. TheStreet lowered shares of Equifax from a “b-” rating to a “c+” rating in a research report on Monday, October 23rd. Bank of America reduced their price target on shares of Equifax from $195.00 to $175.00 in a research report on Tuesday, October 10th. Finally, Royal Bank of Canada restated an “outperform” rating on shares of Equifax in a research report on Friday, November 17th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $216.00. View Our Latest Report on EFX (Free Report) Equifax Inc operates as a data, analytics, and technology company. The company operates through three segments: Workforce Solutions, U.S. Information Solutions (USIS), and International. The Workforce Solutions segment offers services that enables customers to verify income, employment, educational history, criminal justice data, healthcare professional licensure, and sanctions of people in the United States; and employer customers with services that assist them in complying with and automating payroll-related and human resource management processes throughout the entire cycle of the employment relationship. |
2024-11-23 | ETF Daily News | Metropolitan Life Insurance Co NY Grows Position in Xylem Inc. (NYSE:XYL) | Metropolitan Life Insurance Co NY increased its position in shares of Xylem Inc. (NYSE:XYL–Free Report) by 29.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,426 shares of the industrial products company’s stock after buying an additional 2,365 shares during the period. Metropolitan Life Insurance Co NY’s holdings in Xylem were worth $1,174,000 at the end of the most recent reporting period. A number of other large investors have also recently made changes to their positions in XYL. Avalon Trust Co purchased a new stake in shares of Xylem during the first quarter worth approximately $31,000. Bangor Savings Bank boosted its holdings in Xylem by 64.7% in the second quarter. Bangor Savings Bank now owns 275 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 108 shares in the last quarter. Orion Capital Management LLC acquired a new position in Xylem in the first quarter valued at approximately $32,000. Your Advocates Ltd. LLP acquired a new position in Xylem in the second quarter valued at approximately $34,000. Finally, Spire Wealth Management boosted its holdings in Xylem by 42.7% in the first quarter. Spire Wealth Management now owns 331 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 99 shares in the last quarter. 84.53% of the stock is currently owned by hedge funds and other institutional investors. In other Xylem news, CEOPatrick Deckersold 99,648 shares of the stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $100.84, for a total value of $10,048,504.32. Following the completion of the transaction, the chief executive officer now owns 287,564 shares in the company, valued at $28,997,953.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available atthis hyperlink. 0.90% of the stock is currently owned by company insiders. Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverXYL has been the subject of a number of research analyst reports. Oppenheimer raised Xylem from a “market perform” rating to an “outperform” rating and set a $118.00 price target for the company in a report on Thursday, October 19th. Royal Bank of Canada lowered their price target on Xylem from $123.00 to $120.00 and set an “outperform” rating for the company in a report on Wednesday, November 1st. TheStreet raised Xylem from a “c+” rating to a “b-” rating in a report on Thursday, August 17th. Seaport Res Ptn reissued a “neutral” rating on shares of Xylem in a report on Tuesday, August 29th. Finally, Citigroup increased their price objective on Xylem from $101.00 to $104.00 and gave the company a “neutral” rating in a report on Wednesday, November 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $118.30. View Our Latest Stock Analysis on XYL Shares ofNYSE XYLopened at $102.20 on Thursday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.72 and a quick ratio of 1.21. The stock has a fifty day moving average price of $93.69 and a 200 day moving average price of $101.86. Xylem Inc. has a 1-year low of $87.59 and a 1-year high of $118.58. The company has a market cap of $24.64 billion, a PE ratio of 41.89, a P/E/G ratio of 2.12 and a beta of 1.06. Xylem (NYSE:XYL–Get Free Report) last released its quarterly earnings data on Tuesday, October 31st. The industrial products company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.10. The firm had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $1.99 billion. Xylem had a return on equity of 10.99% and a net margin of 7.29%. Xylem’s revenue was up 52.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.79 earnings per share. Sell-side analysts forecast that Xylem Inc. will post 3.75 EPS for the current year. The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 19th. Shareholders of record on Tuesday, November 21st will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.29%. The ex-dividend date of this dividend is Monday, November 20th. Xylem’s payout ratio is 54.10%. (Free Report) Xylem Inc, together with its subsidiaries, engages in the design, manufacture, and servicing of engineered products and solutions for the water and wastewater applications in the United States, Europe, the Asia Pacific, and internationally. It operates through three segments: Water Infrastructure, Applied Water, and Measurement & Control Solutions. |
2024-11-23 | ETF Daily News | Metropolitan Life Insurance Co NY Has $1.37 Million Holdings in Republic Services, Inc. (NYSE:RSG) | Metropolitan Life Insurance Co NY lessened its holdings in shares of Republic Services, Inc. (NYSE:RSG–Free Report) by 2.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,959 shares of the business services provider’s stock after selling 227 shares during the period. Metropolitan Life Insurance Co NY’s holdings in Republic Services were worth $1,372,000 at the end of the most recent quarter. A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Coldstream Capital Management Inc. lifted its holdings in shares of Republic Services by 2.7% during the 2nd quarter. Coldstream Capital Management Inc. now owns 2,680 shares of the business services provider’s stock worth $411,000 after acquiring an additional 71 shares during the period. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Republic Services by 0.4% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 19,685 shares of the business services provider’s stock worth $3,015,000 after acquiring an additional 74 shares during the period. Spire Wealth Management lifted its holdings in shares of Republic Services by 2.1% during the 2nd quarter. Spire Wealth Management now owns 3,621 shares of the business services provider’s stock worth $555,000 after acquiring an additional 74 shares during the period. M&T Bank Corp lifted its holdings in shares of Republic Services by 0.3% during the 1st quarter. M&T Bank Corp now owns 25,849 shares of the business services provider’s stock worth $3,497,000 after acquiring an additional 79 shares during the period. Finally, Macquarie Group Ltd. lifted its holdings in shares of Republic Services by 1.2% during the 2nd quarter. Macquarie Group Ltd. now owns 6,656 shares of the business services provider’s stock worth $871,000 after acquiring an additional 81 shares during the period. Institutional investors own 57.23% of the company’s stock. NYSE:RSGopened at $160.01 on Thursday. Republic Services, Inc. has a 12 month low of $120.58 and a 12 month high of $160.76. The stock has a market capitalization of $50.35 billion, a price-to-earnings ratio of 30.95, a PEG ratio of 2.94 and a beta of 0.67. The firm has a fifty day simple moving average of $149.52 and a two-hundred day simple moving average of $148.06. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 1.06. Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverRepublic Services (NYSE:RSG–Get Free Report) last released its quarterly earnings data on Thursday, October 26th. The business services provider reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.41 by $0.13. Republic Services had a net margin of 11.17% and a return on equity of 16.81%. The firm had revenue of $3.83 billion for the quarter, compared to analyst estimates of $3.81 billion. During the same period last year, the firm earned $1.34 earnings per share. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. Analysts expect that Republic Services, Inc. will post 5.47 EPS for the current fiscal year. Republic Services declared that its board has authorized a share repurchase plan on Thursday, October 26th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the business services provider to purchase up to 6.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued. The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Tuesday, January 2nd will be paid a $0.535 dividend. This represents a $2.14 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date of this dividend is Friday, December 29th. Republic Services’s dividend payout ratio (DPR) is 41.39%. RSG has been the subject of several research reports. Wolfe Research initiated coverage on shares of Republic Services in a research note on Tuesday, October 17th. They issued a “peer perform” rating for the company. Morgan Stanley raised their price target on shares of Republic Services from $158.00 to $170.00 and gave the company an “overweight” rating in a research note on Tuesday, August 1st. Oppenheimer raised their price target on shares of Republic Services from $159.00 to $161.00 and gave the company an “outperform” rating in a research note on Monday, October 16th. Royal Bank of Canada raised their price target on shares of Republic Services from $163.00 to $166.00 and gave the company a “sector perform” rating in a research note on Monday, October 2nd. Finally, BMO Capital Markets increased their price objective on shares of Republic Services from $158.00 to $160.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 1st. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Republic Services presently has an average rating of “Moderate Buy” and an average target price of $160.36. View Our Latest Analysis on Republic Services (Free Report) Republic Services, Inc, together with its subsidiaries, offers environmental services in the United States. It is involved in the collection and processing of recyclable, solid waste, and industrial waste materials; transportation and disposal of non-hazardous and hazardous waste streams; and other environmental solutions. |
2024-11-23 | ETF Daily News | Metropolitan Life Insurance Co NY Sells 569 Shares of Ventas, Inc. (NYSE:VTR) | Metropolitan Life Insurance Co NY trimmed its stake in Ventas, Inc. (NYSE:VTR–Free Report) by 1.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,654 shares of the real estate investment trust’s stock after selling 569 shares during the period. Metropolitan Life Insurance Co NY’s holdings in Ventas were worth $1,402,000 at the end of the most recent reporting period. Several other institutional investors have also modified their holdings of the stock. Baird Financial Group Inc. lifted its stake in shares of Ventas by 1.7% in the 1st quarter. Baird Financial Group Inc. now owns 13,395 shares of the real estate investment trust’s stock valued at $827,000 after purchasing an additional 222 shares during the last quarter. Czech National Bank raised its holdings in shares of Ventas by 0.5% in the second quarter. Czech National Bank now owns 47,358 shares of the real estate investment trust’s stock worth $2,239,000 after buying an additional 236 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of Ventas by 0.4% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 67,809 shares of the real estate investment trust’s stock worth $2,940,000 after buying an additional 243 shares during the period. Equitable Holdings Inc. raised its holdings in shares of Ventas by 6.0% in the first quarter. Equitable Holdings Inc. now owns 4,387 shares of the real estate investment trust’s stock worth $271,000 after buying an additional 249 shares during the period. Finally, Stratos Wealth Partners LTD. raised its holdings in shares of Ventas by 5.0% in the second quarter. Stratos Wealth Partners LTD. now owns 5,473 shares of the real estate investment trust’s stock worth $259,000 after buying an additional 260 shares during the period. 93.48% of the stock is owned by institutional investors. Several brokerages have recently weighed in on VTR. Raymond James downgraded Ventas from a “strong-buy” rating to an “outperform” rating and reduced their price target for the stock from $55.00 to $53.00 in a report on Wednesday, September 20th. Bank of America downgraded Ventas from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $54.00 to $48.00 in a report on Friday, August 11th. Wells Fargo & Company reduced their price objective on Ventas from $49.00 to $47.00 and set an “overweight” rating on the stock in a report on Monday, November 13th. JPMorgan Chase & Co. reduced their price objective on Ventas from $49.00 to $48.00 and set a “neutral” rating on the stock in a report on Wednesday, August 30th. Finally,StockNews.comdowngraded Ventas from a “hold” rating to a “sell” rating in a report on Monday, November 6th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $50.62. Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverGet Our Latest Report on VTR Shares ofNYSE:VTRopened at $44.70 on Thursday. Ventas, Inc. has a 12-month low of $39.33 and a 12-month high of $53.15. The business’s fifty day simple moving average is $42.79 and its 200-day simple moving average is $44.54. The company has a market capitalization of $17.99 billion, a PE ratio of 4,474.47, a P/E/G ratio of 2.13 and a beta of 1.26. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 1.36. The business also recently declared a quarterly dividend, which was paid on Thursday, October 12th. Stockholders of record on Monday, October 2nd were issued a $0.45 dividend. The ex-dividend date was Friday, September 29th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.03%. Ventas’s dividend payout ratio is presently 18,018.02%. (Free Report) Ventas Inc, an S&P 500 company, operates at the intersection of two large and dynamic industries healthcare and real estate. Fueled by powerful demographic demand from growth in the aging population, Ventas owns or has investments in a highly diversified portfolio of approximately 1,400 properties in the United States, Canada, and the United Kingdom. |
2024-11-23 | ETF Daily News | Metropolitan Life Insurance Co NY Lowers Stock Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH) | Metropolitan Life Insurance Co NY lessened its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH–Free Report) by 2.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,115 shares of the information technology service provider’s stock after selling 651 shares during the quarter. Metropolitan Life Insurance Co NY’s holdings in Cognizant Technology Solutions were worth $1,444,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Several other large investors have also recently modified their holdings of CTSH. Bank Julius Baer & Co. Ltd Zurich raised its position in shares of Cognizant Technology Solutions by 97,310.2% in the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 11,012,223 shares of the information technology service provider’s stock worth $718,878,000 after purchasing an additional 11,000,918 shares during the last quarter. Norges Bank purchased a new position in shares of Cognizant Technology Solutions in the 4th quarter worth about $374,413,000. JPMorgan Chase & Co. raised its position in shares of Cognizant Technology Solutions by 84.6% in the 1st quarter. JPMorgan Chase & Co. now owns 13,148,963 shares of the information technology service provider’s stock worth $801,166,000 after purchasing an additional 6,027,057 shares during the last quarter. Toronto Dominion Bank raised its position in shares of Cognizant Technology Solutions by 211.3% in the 1st quarter. Toronto Dominion Bank now owns 6,172,703 shares of the information technology service provider’s stock worth $375,901,000 after purchasing an additional 4,189,677 shares during the last quarter. Finally, Wellington Management Group LLP increased its holdings in Cognizant Technology Solutions by 43.7% in the 1st quarter. Wellington Management Group LLP now owns 9,917,510 shares of the information technology service provider’s stock worth $604,274,000 after buying an additional 3,017,452 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock. Several equities research analysts recently commented on CTSH shares. Royal Bank of Canada lifted their price objective on Cognizant Technology Solutions from $66.00 to $74.00 and gave the stock a “sector perform” rating in a report on Thursday, August 3rd. Citigroup upgraded Cognizant Technology Solutions from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $72.00 to $80.00 in a report on Friday, October 20th. Morgan Stanley reduced their price objective on Cognizant Technology Solutions from $68.00 to $65.00 and set an “equal weight” rating for the company in a report on Thursday, November 2nd.StockNews.comassumed coverage on Cognizant Technology Solutions in a report on Thursday, October 5th. They issued a “buy” rating for the company. Finally, JPMorgan Chase & Co. cut their price target on Cognizant Technology Solutions from $77.00 to $72.00 and set a “neutral” rating for the company in a research note on Thursday, November 2nd. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $68.94. Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverGet Our Latest Analysis on Cognizant Technology Solutions NASDAQ CTSHopened at $70.88 on Thursday. The stock’s 50 day moving average is $67.20 and its 200 day moving average is $66.66. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.05. Cognizant Technology Solutions Co. has a 12 month low of $54.25 and a 12 month high of $72.71. The stock has a market cap of $35.54 billion, a PE ratio of 17.25, a P/E/G ratio of 1.81 and a beta of 1.08. Cognizant Technology Solutions (NASDAQ:CTSH–Get Free Report) last posted its quarterly earnings results on Wednesday, November 1st. The information technology service provider reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.08. Cognizant Technology Solutions had a return on equity of 17.54% and a net margin of 10.75%. The company had revenue of $4.90 billion for the quarter, compared to analysts’ expectations of $4.91 billion. During the same period in the previous year, the firm earned $1.17 EPS. The firm’s revenue was up .8% compared to the same quarter last year. Research analysts predict that Cognizant Technology Solutions Co. will post 4.4 EPS for the current fiscal year. The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 30th. Investors of record on Tuesday, November 21st will be issued a $0.29 dividend. The ex-dividend date is Monday, November 20th. This represents a $1.16 dividend on an annualized basis and a yield of 1.64%. Cognizant Technology Solutions’s dividend payout ratio is presently 28.22%. (Free Report) Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services in North America, Europe, and internationally. It operates through four segments: Financial Services; Health Sciences; Products and Resources; and Communications, Media and Technology. Want to see what other hedge funds are holding CTSH?Visit HoldingsChannel.comto get the latest 13F filings and insider trades for Cognizant Technology Solutions Co. (NASDAQ:CTSH–Free Report). |
2024-11-24 | International Business Times | Greece's Next Hot Export Could Be Medical Tourism | For years, Greece's hot export has been leisure tourism, with millions of foreigners visiting the country to enjoy the blue beaches, the sunny sky and the ancient sites where Western civilization was born. Nowadays, Greece is still a popular destination for leisure tourists, but it is beginning to attract another type of crowd: medical tourists. These people visit the country to take advantage of its high quality inexpensive medical services, especially those in countries like the U.S. with a high cost of medical services. For instance, a visit to a specialist in Greece costs around $50, less than the standard co-pay for major U.S. insurance plans, while a visit to an emergency hospital room costs $150. In addition, a 90-day supply of blood pressure medication Diovan costs $40 in Greece, about the same as the co-pay for U.S. insurance plans. The Ministry of Tourism and the Athens Medical Association estimate that Greece could attract 100,000 tourists annually, generating 400 million euros in revenues. To find out how a small country like Greece ends up competing in the medical service sector and how Americans take advantage of it,International Business Timesspoke with Dr. George Patoulis, president of the Athens Medical Association and Elitour, the Greek Health Tourism Council. Greece has developed a significant medical staff educated in the best European and American universities, combined with internationally accredited medical centers, under the positive synergy of the State and the Greek Medical Tourism. The country where the medicine was born offers the global public attractive medical tourism packages, combining quality, safety, competitive prices and tourist activities in one of the most popular destinations in the world. There's a long list: orthopedics, ophthalmology, plastic and cosmetic surgery, dermatology, fertility, transplantation, cardiac surgery, dialysis, dentistry, rehabilitation, anti-aging, weight control and longevity programs. Private health care providers offer these high-quality services at competitive prices in an excellent climate conducive to a speedy recovery period. As is the flexible, case-specific legal framework, such as in the field of in vitro fertilization. It's constantly increasing global interest in attracting infertile couples. Thus far, the average medical tourist in Greece is 45-55 years old, middle- or upper-income and stays in the country for an average of seven days with another person's companion. They usually come to Athens and spend around €5,000, unlike ordinary tourists who spend €1,500 in the same period. The goal is to jumpstart the development and popularity of Greece as a medical tourism destination. By 2030, WHO estimates the global burden of diseases to increase to 56%, which will boost medical travel demand, specifically for health and prevention and longevity through wellness tourism. Greek Health Tourism Council, Elitour, estimates that 56% of medical tourists after the pandemic are seeking better treatment, 22% are seeking foreign destinations with the aim of lower costs, 10% are looking for treatment as soon as possible where internationally accessible, while 18% of patients are looking for treatment options not available in their countries. These factors suggest that Greece can attract medical tourists from the ever-growing global market in the geographical meeting point of East-West. There is a long list of packages in cardiology, dentistry, diagnostics, general surgery, geriatrics, gynecology, hemodialysis, IVF, neurological surgery, oncology, ophthalmology, orthopedics, pediatrics, plastic surgery, psychiatry and rehabilitation. Prospective medical tourists can directly communicate with medical personnel through video conferences before they arrive in our country, examining the requested treatment and proposing flexible solutions, always under medical and travel safety. According to the CDC, medical tourists from theUnited Statesusually travel to Mexico, Canada, and many other countries in Central America, South America, and the Caribbean to take advantage of the low-cost medical services of these countries. The most common medical services that American medical tourists are looking for are dental care, cosmetic surgery, fertility treatments, organ and tissue transplantation and cancer treatment. These are areas Greece offers superior services at very competitive costs alongside a "healing" environment in nature, climate, healthy cuisine and many wellness activities that complement a unique health and wellness experience. |
2024-11-24 | ETF Daily News | iA Financial Co. Inc. (TSE:IAG) Senior Officer Sells C$442,500.00 in Stock | iA Financial Co. Inc. (TSE:IAG–Get Free Report) Senior Officer Denis Ricard sold 5,000 shares of the stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of C$88.50, for a total value of C$442,500.00. TSE IAGopened at C$89.81 on Friday. The stock has a fifty day moving average of C$84.51 and a 200-day moving average of C$86.85. The stock has a market capitalization of C$9.46 billion, a P/E ratio of 7.81, a price-to-earnings-growth ratio of 1.26 and a beta of 1.17. iA Financial Co. Inc. has a 52 week low of C$73.30 and a 52 week high of C$93.90. The company has a debt-to-equity ratio of 39.48, a quick ratio of 0.17 and a current ratio of 2.89. The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, November 17th will be paid a $0.765 dividend. The ex-dividend date is Thursday, November 16th. This represents a $3.06 annualized dividend and a dividend yield of 3.41%. iA Financial’s dividend payout ratio (DPR) is currently 26.61%. Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverA number of equities analysts have recently issued reports on IAG shares. TD Securities dropped their target price on iA Financial from C$6.00 to C$5.50 in a report on Monday, August 14th. CIBC dropped their target price on iA Financial from C$96.00 to C$95.00 and set a “neutral” rating for the company in a report on Tuesday, August 8th. Desjardins dropped their target price on iA Financial from C$95.00 to C$94.00 and set a “hold” rating for the company in a report on Thursday, October 12th. Royal Bank of Canada raised their price target on iA Financial from C$100.00 to C$101.00 and gave the company an “outperform” rating in a report on Thursday, November 9th. Finally, National Bank Financial dropped their price target on iA Financial from C$4.75 to C$4.50 in a report on Monday, August 14th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, iA Financial currently has a consensus rating of “Moderate Buy” and an average price target of C$72.14. View Our Latest Research Report on IAG (Get Free Report) iA Financial Corporation Inc, through its subsidiary, Industrial Alliance Insurance and Financial Services Inc, provides various life and health insurance products in Canada and the United States. The company operates through Individual Insurance, Individual Wealth Management, Group Insurance, Group Savings and Retirement, and US Operations businesses. |
2024-11-24 | ETF Daily News | Pegasystems Inc. (NASDAQ:PEGA) Given Average Rating of “Hold” by Analysts | Shares of Pegasystems Inc. (NASDAQ:PEGA–Get Free Report) have been assigned an average recommendation of “Hold” from the eleven research firms that are currently covering the stock,Marketbeatreports. One analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and five have given a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $52.90. PEGA has been the topic of several research reports. Citigroup lowered their target price on Pegasystems from $70.00 to $57.00 and set a “buy” rating on the stock in a report on Tuesday, October 24th. Rosenblatt Securities reissued a “buy” rating and issued a $62.00 target price on shares of Pegasystems in a report on Tuesday, August 29th. DA Davidson lowered their target price on Pegasystems from $52.00 to $44.00 and set a “neutral” rating on the stock in a report on Friday, October 27th. Barclays increased their price objective on Pegasystems from $44.00 to $45.00 and gave the company an “underweight” rating in a research note on Monday, October 30th. Finally, Royal Bank of Canada increased their price objective on Pegasystems from $55.00 to $65.00 in a research note on Friday, July 28th. Read Our Latest Stock Analysis on Pegasystems Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverShares ofPEGAopened at $52.14 on Friday. The stock has a 50-day simple moving average of $43.88 and a 200-day simple moving average of $47.15. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 2.98. Pegasystems has a 1 year low of $32.62 and a 1 year high of $59.23. Pegasystems (NASDAQ:PEGA–Get Free Report) last issued its quarterly earnings data on Wednesday, October 25th. The technology company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.49. Pegasystems had a positive return on equity of 0.01% and a negative net margin of 2.97%. The company had revenue of $334.64 million during the quarter, compared to analysts’ expectations of $296.61 million. As a group, equities analysts forecast that Pegasystems will post 0.46 earnings per share for the current year. The firm also recently announced a quarterly dividend, which was paid on Monday, October 16th. Shareholders of record on Monday, October 2nd were paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.23%. The ex-dividend date of this dividend was Friday, September 29th. Pegasystems’s payout ratio is currently -24.49%. In other news, insiderLeon Treflersold 811 shares of the business’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $50.00, for a total value of $40,550.00. Following the sale, the insider now owns 25,697 shares of the company’s stock, valued at approximately $1,284,850. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed throughthis link. In other news, insiderRifat Kerim Akgonulsold 1,890 shares of Pegasystems stock in a transaction on Monday, September 11th. The stock was sold at an average price of $46.65, for a total transaction of $88,168.50. Following the transaction, the insider now owns 52,921 shares in the company, valued at $2,468,764.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible throughthis link. Also, insiderLeon Treflersold 811 shares of the business’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $50.00, for a total value of $40,550.00. Following the completion of the transaction, the insider now owns 25,697 shares in the company, valued at approximately $1,284,850. The disclosure for this sale can be foundhere. Insiders have sold 2,949 shares of company stock valued at $139,767 in the last quarter. Corporate insiders own 50.20% of the company’s stock. Several institutional investors have recently added to or reduced their stakes in the business. Comerica Bank acquired a new stake in shares of Pegasystems in the third quarter worth $67,000. Diversified Trust Co bought a new stake in shares of Pegasystems in the third quarter valued at about $379,000. The Manufacturers Life Insurance Company bought a new position in Pegasystems in the third quarter worth $313,000. Scopia Capital Management LP bought a new stake in Pegasystems in the third quarter valued at about $10,195,000. Finally, AQR Capital Management LLC lifted its position in shares of Pegasystems by 307.8% during the 3rd quarter. AQR Capital Management LLC now owns 180,770 shares of the technology company’s stock worth $7,847,000 after buying an additional 136,444 shares during the period. 46.89% of the stock is owned by institutional investors. (Get Free Report Pegasystems Inc develops, markets, licenses, hosts, and supports enterprise software applications in the United States, rest of the Americas, the United Kingdom, rest of Europe, the Middle East, Africa, and the Asia-Pacific. The company provides Pega Platform, an intelligent automation software for clients' processes and workflows; and Pega Infinity, a software platform that unifies customer engagement and digital process automation. |
2024-11-24 | ETF Daily News | Sunnova Energy International (NYSE:NOVA) Research Coverage Started at Mizuho | Mizuho began coverage on shares ofSunnova Energy International (NYSE:NOVA–Free Report)in a research report report published on Tuesday,Marketbeatreports. The brokerage issued a buy rating and a $20.00 price objective on the stock. A number of other research firms have also commented on NOVA. Piper Sandler dropped their price target on Sunnova Energy International from $23.00 to $13.00 and set a neutral rating on the stock in a research report on Friday, October 13th. Royal Bank of Canada dropped their price objective on shares of Sunnova Energy International from $20.00 to $17.00 and set an outperform rating on the stock in a report on Monday, October 30th. The Goldman Sachs Group dropped their price target on Sunnova Energy International from $17.00 to $14.00 and set a neutral rating on the stock in a research note on Tuesday, September 26th. Citigroup raised Sunnova Energy International from a neutral rating to a buy rating and dropped their target price for the company from $22.00 to $14.00 in a research report on Tuesday, October 17th. Finally, Deutsche Bank Aktiengesellschaft reiterated a hold rating and issued a $12.50 price objective (down from $23.00) on shares of Sunnova Energy International in a report on Friday, October 20th. Six research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $22.86. View Our Latest Stock Analysis on NOVA Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverSunnova Energy International stockopened at $10.48 on Tuesday. Sunnova Energy International has a one year low of $7.61 and a one year high of $24.56. The company has a debt-to-equity ratio of 3.23, a current ratio of 1.14 and a quick ratio of 1.14. The business has a 50 day simple moving average of $10.00 and a 200 day simple moving average of $14.49. The company has a market capitalization of $1.28 billion, a PE ratio of -4.87 and a beta of 2.14. Sunnova Energy International (NYSE:NOVA–Get Free Report) last issued its quarterly earnings results on Wednesday, October 25th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.34) by ($0.19). Sunnova Energy International had a negative net margin of 34.79% and a negative return on equity of 14.83%. The firm had revenue of $198.40 million for the quarter, compared to analyst estimates of $197.21 million. On average, sell-side analysts forecast that Sunnova Energy International will post -1.86 EPS for the current fiscal year. A number of hedge funds have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company boosted its stake in shares of Sunnova Energy International by 24.6% during the third quarter. The Manufacturers Life Insurance Company now owns 51,040 shares of the company’s stock valued at $534,000 after purchasing an additional 10,088 shares in the last quarter. Royal Bank of Canada increased its holdings in shares of Sunnova Energy International by 2.6% during the third quarter. Royal Bank of Canada now owns 133,460 shares of the company’s stock valued at $1,396,000 after acquiring an additional 3,328 shares in the last quarter. Legal & General Group Plc increased its position in shares of Sunnova Energy International by 4.7% during the third quarter. Legal & General Group Plc now owns 224,607 shares of the company’s stock worth $2,352,000 after acquiring an additional 10,120 shares in the last quarter. Advisors Asset Management Inc. grew its holdings in Sunnova Energy International by 6.6% during the third quarter. Advisors Asset Management Inc. now owns 25,933 shares of the company’s stock worth $272,000 after buying an additional 1,610 shares in the last quarter. Finally, Quadrature Capital Ltd bought a new stake in shares of Sunnova Energy International in the 3rd quarter worth $689,000. (Get Free Report) Sunnova Energy International Inc provides energy as a service in the United States. The company offers electricity, as well as offers operations and maintenance, monitoring, repairs and replacements, equipment upgrades, on-site power optimization, and diagnostics services. As of December 31, 2022, it operated a fleet of residential solar energy systems with a generation capacity of approximately 1,627 megawatts serving over 279,000 customers. |
2024-11-24 | ETF Daily News | Kosmos Energy (NYSE:KOS) Earns Buy Rating from Analysts at Stifel Nicolaus | Stifel Nicolaus began coverage on shares ofKosmos Energy (NYSE:KOS–Free Report)in a report issued on Monday,Marketbeatreports. The brokerage issued a buy rating and a $10.00 price target on the oil and gas producer’s stock. Several other brokerages have also recently issued reports on KOS. Barclays upped their target price on Kosmos Energy from $9.40 to $9.80 in a report on Tuesday, October 3rd. Bank of America upgraded Kosmos Energy from a neutral rating to a buy rating and upped their target price for the company from $8.70 to $10.00 in a report on Wednesday, September 27th. Sanford C. Bernstein cut Kosmos Energy from an outperform rating to a market perform rating and dropped their target price for the company from $12.00 to $9.00 in a report on Tuesday, October 17th. Benchmark reiterated a buy rating and set a $10.00 price target on shares of Kosmos Energy in a report on Tuesday, August 8th. Finally,StockNews.comupgraded Kosmos Energy to a sell rating in a report on Tuesday, November 7th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Kosmos Energy has an average rating of Moderate Buy and a consensus price target of $9.53. Check Out Our Latest Analysis on Kosmos Energy Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverShares ofKOS stockopened at $6.78 on Monday. The company has a debt-to-equity ratio of 2.39, a current ratio of 0.82 and a quick ratio of 0.54. The company has a market cap of $3.12 billion, a price-to-earnings ratio of 42.38, a PEG ratio of 0.65 and a beta of 2.62. The stock has a 50 day simple moving average of $7.30 and a 200-day simple moving average of $6.88. Kosmos Energy has a 1-year low of $5.28 and a 1-year high of $8.55. Kosmos Energy (NYSE:KOS–Get Free Report) last issued its quarterly earnings results on Sunday, November 5th. The oil and gas producer reported $0.26 EPS for the quarter, topping the consensus estimate of $0.21 by $0.05. Kosmos Energy had a return on equity of 38.42% and a net margin of 4.41%. The firm had revenue of $526.55 million during the quarter. During the same quarter in the previous year, the firm posted $0.19 earnings per share. On average, equities research analysts expect that Kosmos Energy will post 0.77 EPS for the current fiscal year. Several institutional investors and hedge funds have recently added to or reduced their stakes in KOS. Ameritas Investment Partners Inc. boosted its holdings in Kosmos Energy by 4.0% in the second quarter. Ameritas Investment Partners Inc. now owns 37,724 shares of the oil and gas producer’s stock valued at $226,000 after purchasing an additional 1,460 shares during the last quarter. Captrust Financial Advisors lifted its holdings in Kosmos Energy by 50.1% during the 1st quarter. Captrust Financial Advisors now owns 4,394 shares of the oil and gas producer’s stock worth $32,000 after buying an additional 1,467 shares during the last quarter. Advisory Services Network LLC lifted its holdings in Kosmos Energy by 5.8% during the 1st quarter. Advisory Services Network LLC now owns 27,425 shares of the oil and gas producer’s stock worth $197,000 after buying an additional 1,500 shares during the last quarter. Metropolitan Life Insurance Co NY lifted its holdings in Kosmos Energy by 6.8% during the 2nd quarter. Metropolitan Life Insurance Co NY now owns 24,755 shares of the oil and gas producer’s stock worth $148,000 after buying an additional 1,568 shares during the last quarter. Finally, Royal Bank of Canada lifted its holdings in Kosmos Energy by 5.1% during the 1st quarter. Royal Bank of Canada now owns 33,606 shares of the oil and gas producer’s stock worth $241,000 after buying an additional 1,618 shares during the last quarter. 91.24% of the stock is currently owned by institutional investors and hedge funds. (Get Free Report) Kosmos Energy Ltd. engages in the exploration and production of oil and gas properties along the Atlantic Margins in the United States. The company's primary assets include production projects located in offshore Ghana, Equatorial Guinea, and the U.S. Gulf of Mexico, as well as a gas projects located in offshore Mauritania and Senegal. |
2024-11-24 | ETF Daily News | Lancashire (LON:LRE) Price Target Increased to GBX 750 by Analysts at JPMorgan Chase & Co. | Lancashire (LON:LRE–Free Report)had its target price hoisted byJPMorgan Chase & Co.from GBX 715 ($8.95) to GBX 750 ($9.38) in a report issued on Monday morning,Marketbeat.comreports.JPMorgan Chase & Co.currently has a neutral rating on the stock. LRE has been the topic of several other research reports. Royal Bank of Canada upped their target price on Lancashire from GBX 800 ($10.01) to GBX 825 ($10.32) and gave the company an outperform rating in a research report on Thursday, November 16th. Berenberg Bank boosted their target price on shares of Lancashire from GBX 770 ($9.63) to GBX 800 ($10.01) and gave the company a buy rating in a research report on Thursday, November 9th. Morgan Stanley upgraded shares of Lancashire to an equal weight rating in a report on Tuesday, September 5th. Finally, Barclays restated an equal weight rating and issued a GBX 670 ($8.38) target price on shares of Lancashire in a research note on Tuesday, September 5th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Lancashire presently has an average rating of Moderate Buy and a consensus target price of GBX 734.29 ($9.19). Check Out Our Latest Analysis on Lancashire Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverLREopened at GBX 664.50 ($8.31) on Monday. The stock has a market cap of £1.62 billion, a PE ratio of 1,545.35, a price-to-earnings-growth ratio of 0.21 and a beta of 0.56. The company has a quick ratio of 1.18, a current ratio of 405.61 and a debt-to-equity ratio of 31.97. Lancashire has a twelve month low of GBX 502.87 ($6.29) and a twelve month high of GBX 690 ($8.63). The company has a fifty day moving average of GBX 594.54 and a 200-day moving average of GBX 591.29. The company also recently announced a dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 16th will be issued a $0.50 dividend. The ex-dividend date is Thursday, November 16th. This represents a dividend yield of 6.27%. This is an increase from Lancashire’s previous dividend of $0.05. Lancashire’s dividend payout ratio is currently 2,790.70%. (Get Free Report) Lancashire Holdings Limited, together with its subsidiaries, provides specialty insurance and reinsurance products in London, Bermuda, and Australia. The company operates through five segments: Property and Casualty Reinsurance, Property and Casualty Insurance, Aviation, Energy, and Marine. It offers property direct and facultative, property political risk and sovereign risk, and property terrorism and political violence insurance products, as well as property reinsurance services; and aviation AV52, aviation consortium, airline hull and liability, and satellite insurance products. |
2024-11-24 | ETF Daily News | Hibbett (NASDAQ:HIBB) Releases FY 2024 Earnings Guidance | Hibbett (NASDAQ:HIBB–Get Free Report) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $8.00-$8.30 for the period, compared to the consensus earnings per share estimate of $7.27. The company issued revenue guidance of $1.71 billion-$1.74 billion, compared to the consensus revenue estimate of $1.72 billion. Hibbett also updated its FY24 guidance to $8.00-8.30 EPS. Several research firms have recently weighed in on HIBB. Monness Crespi & Hardt lifted their price objective on Hibbett from $60.00 to $72.00 and gave the stock a buy rating in a research report on Wednesday. Benchmark reissued a buy rating and set a $80.00 target price on shares of Hibbett in a research note on Monday, August 28th. Telsey Advisory Group reiterated an outperform rating and set a $73.00 price objective (up previously from $60.00) on shares of Hibbett in a report on Tuesday. Bank of America boosted their target price on Hibbett from $35.00 to $40.00 and gave the company an underperform rating in a research report on Sunday, August 27th. Finally, B. Riley upped their target price on Hibbett from $45.00 to $60.00 and gave the stock a neutral rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $64.29. View Our Latest Report on Hibbett Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverNASDAQ:HIBBopened at $59.63 on Friday. Hibbett has a 52 week low of $34.86 and a 52 week high of $75.38. The firm has a 50-day moving average price of $48.13 and a two-hundred day moving average price of $44.07. The firm has a market cap of $738.82 million, a price-to-earnings ratio of 6.97, a price-to-earnings-growth ratio of 3.21 and a beta of 1.60. Hibbett (NASDAQ:HIBB–Get Free Report) last issued its quarterly earnings results on Tuesday, November 21st. The company reported $2.05 EPS for the quarter, beating analysts’ consensus estimates of $1.18 by $0.87. Hibbett had a return on equity of 28.35% and a net margin of 6.43%. The company had revenue of $431.90 million during the quarter, compared to the consensus estimate of $416.17 million. During the same period last year, the business posted $1.94 earnings per share. Hibbett’s revenue was down .3% on a year-over-year basis. As a group, sell-side analysts forecast that Hibbett will post 8.25 earnings per share for the current year. The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 19th. Investors of record on Thursday, December 7th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date is Wednesday, December 6th. Hibbett’s dividend payout ratio (DPR) is currently 11.70%. A number of large investors have recently added to or reduced their stakes in the stock. Comerica Bank bought a new position in shares of Hibbett during the 3rd quarter valued at approximately $283,000. The Manufacturers Life Insurance Company purchased a new stake in Hibbett in the third quarter worth $236,000. Royal Bank of Canada raised its stake in shares of Hibbett by 35.9% in the third quarter. Royal Bank of Canada now owns 5,977 shares of the company’s stock valued at $284,000 after buying an additional 1,580 shares during the period. Sei Investments Co. lifted its position in shares of Hibbett by 14.6% during the 3rd quarter. Sei Investments Co. now owns 8,646 shares of the company’s stock valued at $411,000 after buying an additional 1,100 shares during the last quarter. Finally, Legal & General Group Plc grew its stake in shares of Hibbett by 4.0% during the 3rd quarter. Legal & General Group Plc now owns 34,588 shares of the company’s stock worth $1,643,000 after acquiring an additional 1,320 shares during the period. Hedge funds and other institutional investors own 94.08% of the company’s stock. (Get Free Report) Hibbett, Inc together with its subsidiaries, engages in the retail of athletic-inspired fashion products in the United States. Its stores offer a range of merchandise, including athletic footwear, athletic and fashion apparel, team sports equipment, and related accessories. The company operates Hibbett stores, City Gear stores, and Sports Additions athletic shoe stores. |
2024-11-26 | ETF Daily News | HSBC (LON:HSBA) Stock Rating Lowered by Royal Bank of Canada | HSBC (LON:HSBA–Get Free Report)was downgraded by research analysts at Royal Bank of Canada to a “sector perform” rating in a research report issued to clients and investors on Wednesday,MarketBeat Ratingsreports. HSBA has been the topic of several other research reports. Bank of America reaffirmed a “buy” rating and issued a GBX 820 ($10.26) target price on shares of HSBC in a research note on Friday, September 15th. Berenberg Bank reaffirmed a “buy” rating and issued a GBX 820 ($10.26) target price on shares of HSBC in a research note on Monday, October 30th. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of GBX 787.60 ($9.85). Get Our Latest Research Report on HSBC Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverShares ofLON HSBAopened at GBX 606.60 ($7.59) on Wednesday. The firm has a market capitalization of £117.62 billion, a PE ratio of 549.10, a price-to-earnings-growth ratio of 0.60 and a beta of 0.58. HSBC has a 1 year low of GBX 481 ($6.02) and a 1 year high of GBX 665.60 ($8.33). The firm’s 50-day moving average is GBX 624.90 and its 200-day moving average is GBX 616.20. (Get Free Report) HSBC Holdings plc provides banking and financial services worldwide. The company operates through Wealth and Personal Banking, Commercial Banking, and Global Banking and Markets segments. The Wealth and Personal Banking segment offers retail banking and wealth products, including current and savings accounts, mortgages and personal loans, credit and debit cards, and local and international payment services; and wealth management services comprising insurance and investment products, global asset management services, investment management, and private wealth solutions. |
2024-11-26 | ETF Daily News | Couchbase, Inc. (NASDAQ:BASE) Receives Average Rating of “Moderate Buy” from Analysts | Couchbase, Inc. (NASDAQ:BASE–Get Free Report) has earned a consensus recommendation of “Moderate Buy” from the nine ratings firms that are covering the stock,Marketbeatreports. Three analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $20.78. Several research analysts have weighed in on the company. William Blair reaffirmed an “outperform” rating on shares of Couchbase in a research report on Thursday, September 7th. Barclays cut their price objective on shares of Couchbase from $23.00 to $20.00 and set an “overweight” rating on the stock in a research report on Friday, August 18th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $25.00 target price on shares of Couchbase in a research note on Wednesday, September 13th. Read Our Latest Report on BASE Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverIn other Couchbase news, Director Kevin Efrusy sold 750,000 shares of the business’s stock in a transaction on Monday, September 18th. The shares were sold at an average price of $17.71, for a total transaction of $13,282,500.00. Following the completion of the transaction, the director now owns 179,615 shares of the company’s stock, valued at approximately $3,180,981.65. The transaction was disclosed in a document filed with the SEC, which can be accessed throughthis hyperlink. In related news, CFO Gregory N. Henry sold 16,453 shares of the company’s stock in a transaction on Tuesday, September 19th. The shares were sold at an average price of $18.28, for a total transaction of $300,760.84. Following the completion of the transaction, the chief financial officer now directly owns 424,403 shares in the company, valued at approximately $7,758,086.84. The transaction was disclosed in a filing with the SEC, which is available throughthe SEC website. Also, Director Kevin Efrusy sold 750,000 shares of the firm’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $17.71, for a total transaction of $13,282,500.00. Following the completion of the sale, the director now owns 179,615 shares in the company, valued at $3,180,981.65. The disclosure for this sale can be foundhere. In the last three months, insiders sold 1,434,686 shares of company stock valued at $25,433,339. Company insiders own 22.50% of the company’s stock. Large investors have recently made changes to their positions in the stock. Metropolitan Life Insurance Co NY bought a new position in Couchbase during the first quarter valued at about $30,000. Ameritas Investment Partners Inc. grew its holdings in shares of Couchbase by 145.6% during the 1st quarter. Ameritas Investment Partners Inc. now owns 1,822 shares of the company’s stock worth $32,000 after purchasing an additional 1,080 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of Couchbase during the third quarter valued at approximately $67,000. Harbor Capital Advisors Inc. acquired a new position in shares of Couchbase in the second quarter valued at $63,000. Finally, Ensign Peak Advisors Inc bought a new position in Couchbase in the first quarter worth $70,000. Institutional investors and hedge funds own 68.60% of the company’s stock. BASE stockopened at $18.73 on Friday. The firm has a 50 day simple moving average of $16.61 and a 200 day simple moving average of $16.59. Couchbase has a 52 week low of $12.10 and a 52 week high of $22.50. The stock has a market cap of $881.71 million, a P/E ratio of -11.28 and a beta of 0.36. Couchbase (NASDAQ:BASE–Get Free Report) last issued its earnings results on Wednesday, September 6th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.05. Couchbase had a negative net margin of 46.14% and a negative return on equity of 50.50%. The company had revenue of $43.14 million during the quarter, compared to analyst estimates of $41.71 million. During the same quarter last year, the business posted ($0.34) EPS. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. Sell-side analysts predict that Couchbase will post -1.58 EPS for the current year. (Get Free Report Couchbase, Inc provides a database for enterprise applications in the United States and internationally. Its database works in multiple configurations, ranging from cloud to multi- or hybrid-cloud to on-premise environments to the edge. The company offers Couchbase Capella, an automated and secure Database-as-a-Service that helps in database management by deploying, managing, and operating Couchbase Server across cloud environments; and Couchbase Server, a multi-service NoSQL database, which provides SQL-compatible query language and SQL++ that allows for a various array of data manipulation functions. |
2024-11-26 | ETF Daily News | Lancashire Holdings Limited (LON:LRE) Receives Consensus Rating of “Moderate Buy” from Analysts | Lancashire Holdings Limited (LON:LRE–Get Free Report) has been given an average rating of “Moderate Buy” by the seven ratings firms that are covering the stock,MarketBeat.comreports. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is GBX 734.29 ($9.19). Several research analysts recently weighed in on LRE shares. JPMorgan Chase & Co. upped their target price on shares of Lancashire from GBX 715 ($8.95) to GBX 750 ($9.38) and gave the stock a “neutral” rating in a report on Monday, November 20th. Barclays reaffirmed an “equal weight” rating and issued a GBX 670 ($8.38) target price on shares of Lancashire in a report on Tuesday, September 5th. Royal Bank of Canada upped their target price on shares of Lancashire from GBX 800 ($10.01) to GBX 825 ($10.32) and gave the stock an “outperform” rating in a report on Thursday, November 16th. Jefferies Financial Group reaffirmed a “buy” rating and issued a GBX 795 ($9.95) target price on shares of Lancashire in a report on Tuesday, November 21st. Finally, Berenberg Bank increased their price objective on shares of Lancashire from GBX 770 ($9.63) to GBX 800 ($10.01) and gave the company a “buy” rating in a report on Thursday, November 9th. Read Our Latest Stock Analysis on LRE Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverShares ofLancashire stockopened at GBX 660 ($8.26) on Friday. The company has a market capitalization of £1.61 billion, a P/E ratio of 1,571.43, a P/E/G ratio of 0.21 and a beta of 0.56. The company has a debt-to-equity ratio of 31.97, a quick ratio of 1.18 and a current ratio of 405.61. The company has a fifty day moving average of GBX 595.50 and a 200 day moving average of GBX 591.66. Lancashire has a fifty-two week low of GBX 502.87 ($6.29) and a fifty-two week high of GBX 690 ($8.63). The firm also recently announced a dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 16th will be given a dividend of $0.50 per share. This represents a dividend yield of 6.27%. This is a boost from Lancashire’s previous dividend of $0.05. The ex-dividend date of this dividend is Thursday, November 16th. Lancashire’s dividend payout ratio is currently 2,857.14%. (Get Free Report Lancashire Holdings Limited, together with its subsidiaries, provides specialty insurance and reinsurance products in London, Bermuda, and Australia. The company operates through five segments: Property and Casualty Reinsurance, Property and Casualty Insurance, Aviation, Energy, and Marine. It offers property direct and facultative, property political risk and sovereign risk, and property terrorism and political violence insurance products, as well as property reinsurance services; and aviation AV52, aviation consortium, airline hull and liability, and satellite insurance products. |
2024-11-26 | ETF Daily News | Canadian Imperial Bank of Commerce (NYSE:CM) Rating Lowered to Sell at StockNews.com | StockNews.comcut shares ofCanadian Imperial Bank of Commerce (NYSE:CM–Free Report) (TSE:CM)from a hold rating to a sell rating in a report released on Wednesday morning. Other equities analysts also recently issued reports about the stock. BMO Capital Markets reduced their price objective on shares of Canadian Imperial Bank of Commerce from $69.00 to $65.00 and set an outperform rating for the company in a research note on Friday, September 1st. Barclays cut their target price on shares of Canadian Imperial Bank of Commerce from $58.00 to $57.00 and set an equal weight rating for the company in a research note on Friday, September 1st. Finally, Royal Bank of Canada cut their target price on shares of Canadian Imperial Bank of Commerce from $72.00 to $67.00 and set a sector perform rating for the company in a research note on Friday, September 1st. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Canadian Imperial Bank of Commerce has an average rating of Hold and an average price target of $62.50. Get Our Latest Analysis on Canadian Imperial Bank of Commerce Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverCanadian Imperial Bank of Commerce stockopened at $39.43 on Wednesday. The firm has a 50-day moving average of $37.91 and a 200-day moving average of $40.49. Canadian Imperial Bank of Commerce has a one year low of $34.35 and a one year high of $48.80. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.05 and a quick ratio of 1.05. The company has a market cap of $36.71 billion, a price-to-earnings ratio of 10.74, a P/E/G ratio of 2.68 and a beta of 1.01. Canadian Imperial Bank of Commerce (NYSE:CM–Get Free Report) (TSE:CM) last posted its quarterly earnings data on Thursday, August 31st. The bank reported $1.14 EPS for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.11). Canadian Imperial Bank of Commerce had a return on equity of 13.29% and a net margin of 9.26%. The business had revenue of $4.38 billion for the quarter, compared to analyst estimates of $4.29 billion. On average, equities analysts expect that Canadian Imperial Bank of Commerce will post 4.92 earnings per share for the current fiscal year. The business also recently declared a quarterly dividend, which was paid on Friday, October 27th. Shareholders of record on Thursday, September 28th were issued a $0.657 dividend. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.64. This represents a $2.63 annualized dividend and a yield of 6.66%. The ex-dividend date was Wednesday, September 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio is currently 70.30%. Several large investors have recently bought and sold shares of the stock. Public Sector Pension Investment Board raised its holdings in Canadian Imperial Bank of Commerce by 177.6% in the 3rd quarter. Public Sector Pension Investment Board now owns 990,605 shares of the bank’s stock valued at $38,415,000 after acquiring an additional 633,770 shares during the period. Creative Planning raised its holdings in Canadian Imperial Bank of Commerce by 15.9% in the 3rd quarter. Creative Planning now owns 28,455 shares of the bank’s stock valued at $1,099,000 after acquiring an additional 3,912 shares during the period. The Manufacturers Life Insurance Company increased its holdings in shares of Canadian Imperial Bank of Commerce by 10.0% during the third quarter. The Manufacturers Life Insurance Company now owns 2,698,340 shares of the bank’s stock worth $104,903,000 after purchasing an additional 244,331 shares during the period. Scotia Capital Inc. increased its holdings in shares of Canadian Imperial Bank of Commerce by 0.6% during the third quarter. Scotia Capital Inc. now owns 4,190,637 shares of the bank’s stock worth $161,672,000 after purchasing an additional 23,052 shares during the period. Finally, Legal & General Group Plc increased its holdings in shares of Canadian Imperial Bank of Commerce by 5.1% during the third quarter. Legal & General Group Plc now owns 5,185,512 shares of the bank’s stock worth $201,082,000 after purchasing an additional 251,039 shares during the period. 43.72% of the stock is owned by institutional investors. (Get Free Report) Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to personal, business, public sector, and institutional clients in Canada, the United States, and internationally. The company operates through Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Management; U.S. |
2024-11-26 | ETF Daily News | StockNews.com Begins Coverage on Hostess Brands (NASDAQ:TWNK) | StockNews.combegan coverage on shares ofHostess Brands (NASDAQ:TWNK–Free Report)in a report released on Thursday morning. The brokerage issued a sell rating on the stock. TWNK has been the subject of several other reports. Citigroup restated a neutral rating and set a $34.00 price target (up from $32.00) on shares of Hostess Brands in a research note on Monday, October 16th. Stephens lowered Hostess Brands from an overweight rating to an equal weight rating in a report on Tuesday, September 12th. TD Cowen assumed coverage on shares of Hostess Brands in a research report on Wednesday, September 13th. They issued a market perform rating and a $34.00 price target on the stock. Truist Financial downgraded Hostess Brands from a buy rating to a hold rating and set a $34.25 price objective for the company. in a research note on Monday, September 11th. Finally, Morgan Stanley cut their price target on Hostess Brands from $27.00 to $25.00 and set an equal weight rating on the stock in a report on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Hold and an average price target of $29.58. Check Out Our Latest Research Report on Hostess Brands Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverShares ofTWNKopened at $33.30 on Thursday. The stock has a market capitalization of $4.42 billion, a P/E ratio of 35.81, a P/E/G ratio of 3.26 and a beta of 0.53. Hostess Brands has a 1 year low of $21.59 and a 1 year high of $33.74. The company’s fifty day moving average is $33.30 and its two-hundred day moving average is $28.36. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.47 and a current ratio of 1.83. Hostess Brands (NASDAQ:TWNK–Get Free Report) last issued its quarterly earnings data on Tuesday, November 7th. The company reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.02). The business had revenue of $352.80 million during the quarter, compared to analyst estimates of $366.09 million. Hostess Brands had a net margin of 9.10% and a return on equity of 7.74%. Hostess Brands’s revenue was up 1.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.23 earnings per share. On average, sell-side analysts predict that Hostess Brands will post 1.12 earnings per share for the current year. A number of large investors have recently made changes to their positions in the company. Public Sector Pension Investment Board raised its stake in shares of Hostess Brands by 202.9% in the 3rd quarter. Public Sector Pension Investment Board now owns 714,213 shares of the company’s stock valued at $23,790,000 after purchasing an additional 478,402 shares during the period. Walleye Capital LLC grew its position in shares of Hostess Brands by 212.7% in the 3rd quarter. Walleye Capital LLC now owns 39,442 shares of the company’s stock valued at $1,314,000 after acquiring an additional 26,830 shares during the period. Comerica Bank bought a new stake in Hostess Brands in the third quarter valued at approximately $3,323,000. Diversified Trust Co boosted its position in Hostess Brands by 19.2% during the third quarter. Diversified Trust Co now owns 29,138 shares of the company’s stock worth $971,000 after purchasing an additional 4,694 shares during the period. Finally, The Manufacturers Life Insurance Company grew its stake in Hostess Brands by 25.7% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 66,863 shares of the company’s stock valued at $2,227,000 after buying an additional 13,668 shares during the last quarter. (Get Free Report) Hostess Brands, Inc develops, manufactures, markets, sells, and distributes snack products in the United States and Canada. The company provides a range of snack cakes, donuts, sweet rolls, breakfast pastries, cookies, snack pies, sweet baked goods, wafers, bread and buns, danishes, honey buns, coffee cakes, and sugar-free products. |
2024-11-26 | ETF Daily News | HSBC (NYSE:HSBC) Lowered to Sector Perform at Royal Bank of Canada | Royal Bank of Canada downgraded shares ofHSBC (NYSE:HSBC–Free Report)from an outperform rating to a sector perform rating in a report published on Wednesday,Marketbeat Ratingsreports. A number of other equities research analysts have also weighed in on the stock. The Goldman Sachs Group upgraded shares of HSBC from a neutral rating to a buy rating in a research note on Tuesday, September 12th. Morgan Stanley upped their target price on shares of HSBC from GBX 675 ($8.44) to GBX 722 ($9.03) in a report on Tuesday, August 1st. Societe Generale lowered HSBC from a hold rating to a sell rating in a research note on Tuesday, October 17th. JPMorgan Chase & Co. raised shares of HSBC from a neutral rating to an overweight rating in a report on Monday, August 7th. Finally,StockNews.comassumed coverage on shares of HSBC in a research note on Thursday, October 5th. They issued a hold rating for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $811.00. Get Our Latest Report on HSBC Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverNYSE:HSBCopened at $38.62 on Wednesday. HSBC has a one year low of $29.27 and a one year high of $42.47. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.95 and a quick ratio of 0.95. The company’s 50-day simple moving average is $38.57 and its 200 day simple moving average is $38.82. The firm has a market capitalization of $154.75 billion, a P/E ratio of 5.60, a PEG ratio of 0.30 and a beta of 0.60. HSBC (NYSE:HSBC–Get Free Report) last issued its earnings results on Monday, October 30th. The financial services provider reported $1.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.52 by ($0.07). The firm had revenue of $34.11 billion during the quarter. HSBC had a return on equity of 14.04% and a net margin of 24.42%. During the same period in the previous year, the business earned $0.48 earnings per share. As a group, analysts forecast that HSBC will post 6.74 EPS for the current fiscal year. The business also recently announced a quarterly dividend, which will be paid on Thursday, December 21st. Stockholders of record on Friday, November 10th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.18%. The ex-dividend date is Thursday, November 9th. HSBC’s dividend payout ratio (DPR) is 28.70%. Institutional investors and hedge funds have recently made changes to their positions in the business. Milestone Investment Advisors LLC bought a new stake in HSBC during the 3rd quarter valued at $26,000. Benjamin F. Edwards & Company Inc. purchased a new stake in shares of HSBC during the 2nd quarter valued at $27,000. Assetmark Inc. purchased a new stake in HSBC in the third quarter valued at about $30,000. EverSource Wealth Advisors LLC raised its stake in HSBC by 231.7% in the second quarter. EverSource Wealth Advisors LLC now owns 816 shares of the financial services provider’s stock valued at $32,000 after buying an additional 570 shares during the last quarter. Finally, Paradigm Asset Management Co. LLC purchased a new position in shares of HSBC in the 3rd quarter valued at approximately $39,000. 1.48% of the stock is currently owned by institutional investors. (Get Free Report) HSBC Holdings plc provides banking and financial services worldwide. The company operates through Wealth and Personal Banking, Commercial Banking, and Global Banking and Markets segments. The Wealth and Personal Banking segment offers retail banking and wealth products, including current and savings accounts, mortgages and personal loans, credit and debit cards, and local and international payment services; and wealth management services comprising insurance and investment products, global asset management services, investment management, and private wealth solutions. |
2024-11-27 | ETF Daily News | B. Metzler seel. Sohn & Co. AG Has $3.66 Million Stock Holdings in Planet Fitness, Inc. (NYSE:PLNT) | B. Metzler seel. Sohn & Co. AG increased its holdings in shares of Planet Fitness, Inc. (NYSE:PLNT–Free Report) by 114.0% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 54,200 shares of the company’s stock after purchasing an additional 28,869 shares during the quarter. B. Metzler seel. Sohn & Co. AG owned 0.06% of Planet Fitness worth $3,655,000 as of its most recent filing with the SEC. Several other hedge funds have also recently bought and sold shares of PLNT. The Manufacturers Life Insurance Company lifted its stake in Planet Fitness by 1,753.1% in the second quarter. The Manufacturers Life Insurance Company now owns 63,840 shares of the company’s stock valued at $4,305,000 after buying an additional 60,395 shares in the last quarter. Hsbc Holdings PLC lifted its stake in Planet Fitness by 794.2% in the second quarter. Hsbc Holdings PLC now owns 104,488 shares of the company’s stock valued at $7,055,000 after buying an additional 92,803 shares in the last quarter. Franklin Resources Inc. lifted its stake in Planet Fitness by 15.9% in the 2nd quarter. Franklin Resources Inc. now owns 1,766,731 shares of the company’s stock valued at $119,148,000 after acquiring an additional 242,065 shares in the last quarter. Geode Capital Management LLC lifted its stake in Planet Fitness by 8.4% in the 2nd quarter. Geode Capital Management LLC now owns 1,245,654 shares of the company’s stock valued at $84,007,000 after acquiring an additional 96,199 shares in the last quarter. Finally, Sei Investments Co. lifted its stake in Planet Fitness by 3.7% in the 2nd quarter. Sei Investments Co. now owns 177,133 shares of the company’s stock valued at $11,946,000 after acquiring an additional 6,312 shares in the last quarter. 95.53% of the stock is currently owned by institutional investors and hedge funds. Several equities research analysts have commented on the company. Bank of America cut their target price on Planet Fitness from $95.00 to $80.00 and set a “buy” rating on the stock in a research note on Friday, August 4th. DA Davidson dropped their target price on Planet Fitness from $67.00 to $66.00 and set a “neutral” rating on the stock in a report on Friday, August 4th. Royal Bank of Canada upped their target price on Planet Fitness from $68.00 to $74.00 and gave the stock an “outperform” rating in a report on Wednesday, November 8th. Piper Sandler dropped their target price on Planet Fitness from $66.00 to $60.00 in a report on Thursday, October 12th. Finally, Raymond James upped their target price on shares of Planet Fitness from $66.00 to $73.00 and gave the company a “strong-buy” rating in a report on Wednesday, November 8th. Six research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $67.88. Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverCheck Out Our Latest Stock Analysis on Planet Fitness Planet Fitness stocktraded up $0.26 during mid-day trading on Monday, reaching $65.77. 30,622 shares of the company were exchanged, compared to its average volume of 1,432,290. The company has a fifty day simple moving average of $54.51 and a 200-day simple moving average of $61.28. Planet Fitness, Inc. has a 12 month low of $44.13 and a 12 month high of $85.90. The firm has a market cap of $5.80 billion, a PE ratio of 40.69, a PEG ratio of 1.48 and a beta of 1.32. Planet Fitness (NYSE:PLNT–Get Free Report) last announced its quarterly earnings data on Tuesday, November 7th. The company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.04. The business had revenue of $277.60 million for the quarter, compared to analysts’ expectations of $268.18 million. Planet Fitness had a net margin of 12.80% and a negative return on equity of 102.85%. The firm’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same period last year, the firm posted $0.42 earnings per share. Sell-side analysts anticipate that Planet Fitness, Inc. will post 2.21 earnings per share for the current year. (Free Report) Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness brand. The company operates through three segments: Franchise, Corporate-Owned Stores, and Equipment. The Franchise segment is involved in franchising business in the United States, Puerto Rico, Canada, Panama, Mexico, and Australia. |
2024-11-27 | ETF Daily News | Numerai GP LLC Grows Stock Position in IAMGOLD Co. (NYSE:IAG) | Numerai GP LLC grew its position in shares of IAMGOLD Co. (NYSE:IAG–Free Report) (TSE:IMG) by 5.8% during the second quarter,Holdings Channelreports. The institutional investor owned 816,691 shares of the mining company’s stock after purchasing an additional 45,091 shares during the quarter. Numerai GP LLC’s holdings in IAMGOLD were worth $2,148,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Several other institutional investors and hedge funds also recently made changes to their positions in IAG. Profund Advisors LLC lifted its holdings in IAMGOLD by 11.2% during the first quarter. Profund Advisors LLC now owns 36,759 shares of the mining company’s stock valued at $100,000 after purchasing an additional 3,692 shares during the last quarter. PCJ Investment Counsel Ltd. lifted its stake in shares of IAMGOLD by 1.2% during the 1st quarter. PCJ Investment Counsel Ltd. now owns 404,640 shares of the mining company’s stock valued at $1,105,000 after buying an additional 4,640 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in IAMGOLD by 1.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 335,041 shares of the mining company’s stock worth $887,000 after buying an additional 5,170 shares during the period. Great West Life Assurance Co. Can grew its stake in IAMGOLD by 18.5% in the 2nd quarter. Great West Life Assurance Co. Can now owns 40,939 shares of the mining company’s stock valued at $108,000 after buying an additional 6,395 shares in the last quarter. Finally, BlackRock Inc. raised its holdings in IAMGOLD by 9.2% during the 1st quarter. BlackRock Inc. now owns 88,106 shares of the mining company’s stock valued at $239,000 after acquiring an additional 7,391 shares during the period. Institutional investors own 49.40% of the company’s stock. IAG has been the subject of a number of analyst reports.StockNews.combegan coverage on IAMGOLD in a report on Thursday, October 5th. They issued a “hold” rating for the company. BMO Capital Markets reduced their target price on IAMGOLD from $3.25 to $3.00 and set an “outperform” rating for the company in a report on Friday, November 10th. Raymond James lowered their price target on shares of IAMGOLD from $3.25 to $3.00 and set an “underperform” rating on the stock in a report on Tuesday, October 31st. TD Securities reduced their price objective on shares of IAMGOLD from $6.00 to $5.50 and set a “buy” rating for the company in a research note on Monday, August 14th. Finally, CSFB decreased their target price on shares of IAMGOLD from $3.00 to $2.50 and set a “neutral” rating on the stock in a report on Thursday, August 17th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $3.23. Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverRead Our Latest Stock Analysis on IAG Shares ofNYSE IAGtraded up $0.02 during mid-day trading on Monday, reaching $2.46. 2,683,854 shares of the company were exchanged, compared to its average volume of 4,235,701. The stock has a market capitalization of $1.18 billion, a PE ratio of 9.38, a PEG ratio of 7.34 and a beta of 1.46. The company has a quick ratio of 1.17, a current ratio of 1.60 and a debt-to-equity ratio of 0.36. IAMGOLD Co. has a 52 week low of $1.82 and a 52 week high of $3.34. The company’s 50 day moving average price is $2.33 and its 200 day moving average price is $2.52. IAMGOLD (NYSE:IAG–Get Free Report) (TSE:IMG) last issued its quarterly earnings results on Friday, November 10th. The mining company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.01. The firm had revenue of $224.50 million during the quarter. IAMGOLD had a return on equity of 0.38% and a net margin of 14.24%. During the same period last year, the firm earned ($0.03) EPS. Sell-side analysts forecast that IAMGOLD Co. will post 0.01 earnings per share for the current fiscal year. (Free Report) IAMGOLD Corporation, through its subsidiaries, explores, develops, and operates gold mining properties in North America and West Africa. The company owns 100% interest in the Westwood mine, covers an area of 1,925 hectare and located in Quebec and the Côté gold project, which covers an area of 596 square kilometer located in Ontario, Canada; and 90% interests in the Essakane mine situated in Burkina Faso and Boto gold project located in Senegal, West Africa. Want to see what other hedge funds are holding IAG?Visit HoldingsChannel.comto get the latest 13F filings and insider trades for IAMGOLD Co. (NYSE:IAG–Free Report) (TSE:IMG). |
2024-11-27 | ETF Daily News | Founders Financial Securities LLC Grows Stake in W.W. Grainger, Inc. (NYSE:GWW) | Founders Financial Securities LLC grew its holdings in W.W. Grainger, Inc. (NYSE:GWW–Free Report) by 6.7% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 1,000 shares of the industrial products company’s stock after acquiring an additional 63 shares during the quarter. Founders Financial Securities LLC’s holdings in W.W. Grainger were worth $789,000 at the end of the most recent reporting period. A number of other hedge funds have also made changes to their positions in the business. Front Barnett Associates LLC grew its stake in W.W. Grainger by 46.7% during the 2nd quarter. Front Barnett Associates LLC now owns 1,570 shares of the industrial products company’s stock worth $1,238,000 after buying an additional 500 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in W.W. Grainger by 1.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 32,213 shares of the industrial products company’s stock worth $25,403,000 after buying an additional 443 shares during the last quarter. Hsbc Holdings PLC grew its stake in shares of W.W. Grainger by 8.2% in the 2nd quarter. Hsbc Holdings PLC now owns 231,342 shares of the industrial products company’s stock valued at $182,447,000 after purchasing an additional 17,438 shares during the last quarter. O Shaughnessy Asset Management LLC grew its stake in shares of W.W. Grainger by 38.8% in the 2nd quarter. O Shaughnessy Asset Management LLC now owns 5,404 shares of the industrial products company’s stock valued at $4,262,000 after purchasing an additional 1,510 shares during the last quarter. Finally, Franklin Resources Inc. grew its stake in shares of W.W. Grainger by 0.4% in the 2nd quarter. Franklin Resources Inc. now owns 679,030 shares of the industrial products company’s stock valued at $535,476,000 after purchasing an additional 2,661 shares during the last quarter. Hedge funds and other institutional investors own 71.24% of the company’s stock. GWW stocktraded down $3.33 during midday trading on Monday, hitting $808.97. 17,289 shares of the stock were exchanged, compared to its average volume of 275,150. The stock’s 50-day moving average price is $733.92 and its 200-day moving average price is $724.44. The stock has a market cap of $40.15 billion, a price-to-earnings ratio of 22.65, a PEG ratio of 1.72 and a beta of 1.13. W.W. Grainger, Inc. has a fifty-two week low of $534.01 and a fifty-two week high of $813.86. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.69 and a current ratio of 2.85. Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverW.W. Grainger (NYSE:GWW–Get Free Report) last issued its quarterly earnings data on Thursday, October 26th. The industrial products company reported $9.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.85 by $0.58. The firm had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $4.22 billion. W.W. Grainger had a return on equity of 58.02% and a net margin of 11.16%. W.W. Grainger’s revenue was up 6.7% on a year-over-year basis. During the same period in the previous year, the firm posted $8.27 earnings per share. Research analysts predict that W.W. Grainger, Inc. will post 36.37 earnings per share for the current year. The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Monday, November 13th will be given a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a yield of 0.92%. The ex-dividend date is Friday, November 10th. W.W. Grainger’s payout ratio is 20.75%. GWW has been the topic of several analyst reports. Stephens reiterated an “equal weight” rating and issued a $775.00 target price on shares of W.W. Grainger in a research note on Friday, August 18th. UBS Group reduced their price target on W.W. Grainger from $820.00 to $750.00 and set a “neutral” rating for the company in a report on Monday, August 28th. Finally,StockNews.combegan coverage on W.W. Grainger in a report on Thursday, October 5th. They issued a “buy” rating for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $749.57. Check Out Our Latest Research Report on W.W. Grainger In other W.W. Grainger news, SVP Matt Fortin sold 3,439 shares of the firm’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $735.85, for a total transaction of $2,530,588.15. Following the completion of the transaction, the senior vice president now owns 2,462 shares of the company’s stock, valued at $1,811,662.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible throughthis link. 9.90% of the stock is currently owned by company insiders. (Free Report) W.W. Grainger, Inc distributes maintenance, repair, and operating products and services in the United States, Japan, Canada, the United Kingdom, and internationally. The company operates through two segments, High-Touch Solutions N.A. and Endless Assortment. The company provides safety and security supplies, material handling and storage equipment, pumps and plumbing equipment, cleaning and maintenance supplies, and metalworking and hand tools. Want to see what other hedge funds are holding GWW?Visit HoldingsChannel.comto get the latest 13F filings and insider trades for W.W. Grainger, Inc. (NYSE:GWW–Free Report). |
2024-11-27 | ETF Daily News | Brandywine Global Investment Management LLC Buys 336,386 Shares of NerdWallet, Inc. (NASDAQ:NRDS) | Brandywine Global Investment Management LLC lifted its stake in NerdWallet, Inc. (NASDAQ:NRDS–Free Report) by 51.1% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 994,071 shares of the company’s stock after acquiring an additional 336,386 shares during the period. Brandywine Global Investment Management LLC owned 1.30% of NerdWallet worth $9,354,000 at the end of the most recent reporting period. A number of other institutional investors have also made changes to their positions in the stock. C M Bidwell & Associates Ltd. acquired a new stake in NerdWallet in the 1st quarter valued at approximately $61,000. Citigroup Inc. grew its holdings in NerdWallet by 1,094.6% in the 4th quarter. Citigroup Inc. now owns 4,635 shares of the company’s stock valued at $44,000 after buying an additional 4,247 shares during the last quarter. JPMorgan Chase & Co. acquired a new stake in NerdWallet in the 1st quarter valued at approximately $58,000. Quantbot Technologies LP acquired a new stake in NerdWallet in the 1st quarter valued at approximately $63,000. Finally, Barclays PLC grew its holdings in NerdWallet by 542.6% in the 4th quarter. Barclays PLC now owns 6,979 shares of the company’s stock valued at $67,000 after buying an additional 5,893 shares during the last quarter. 36.22% of the stock is owned by institutional investors. NerdWallet stockopened at $11.05 on Monday. NerdWallet, Inc. has a one year low of $6.38 and a one year high of $21.74. The business has a 50 day simple moving average of $9.47 and a 200 day simple moving average of $9.58. Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverNerdWallet (NASDAQ:NRDS–Get Free Report) last posted its earnings results on Thursday, October 26th. The company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.06. The business had revenue of $152.80 million during the quarter, compared to the consensus estimate of $144.25 million. NerdWallet had a negative return on equity of 0.17% and a negative net margin of 0.10%. NerdWallet’s revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the company earned ($0.09) EPS. As a group, sell-side analysts anticipate that NerdWallet, Inc. will post -0.01 EPS for the current fiscal year. In other NerdWallet news, CEO Tim Chao-Ming Chen acquired 23,938 shares of the business’s stock in a transaction on Monday, September 11th. The stock was purchased at an average price of $8.40 per share, for a total transaction of $201,079.20. Following the transaction, the chief executive officer now owns 688,523 shares in the company, valued at approximately $5,783,593.20. The transaction was disclosed in a document filed with the SEC, which can be accessed throughthis hyperlink. 49.56% of the stock is owned by corporate insiders. NRDS has been the topic of a number of research analyst reports. Oppenheimer lowered their target price on NerdWallet from $17.00 to $16.00 and set an “outperform” rating on the stock in a report on Thursday, August 3rd. KeyCorp decreased their price objective on NerdWallet from $20.00 to $18.00 and set an “overweight” rating on the stock in a report on Tuesday, October 24th. Citigroup decreased their price objective on NerdWallet from $14.00 to $11.00 and set a “neutral” rating on the stock in a report on Wednesday, October 4th. Morgan Stanley decreased their price objective on NerdWallet from $11.00 to $10.00 and set an “equal weight” rating on the stock in a report on Friday, October 27th. Finally, Barclays decreased their price objective on NerdWallet from $18.00 to $16.00 and set an “overweight” rating on the stock in a report on Friday, October 27th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $15.17. Check Out Our Latest Research Report on NRDS (Free Report) NerdWallet, Inc operates a digital platform that provides consumer-driven advice about personal finance by connecting individuals and small and mid-sized businesses with financial products providers in the United States, the United Kingdom, Australia, and Canada. The company's platform offers guidance to consumers through educational content, tools and calculators, and product marketplaces, as well as NerdWallet app for various financial products, including credit cards, mortgages, insurance, SMB products, personal loans, banking, investing, and student loans. Want to see what other hedge funds are holding NRDS?Visit HoldingsChannel.comto get the latest 13F filings and insider trades for NerdWallet, Inc. (NASDAQ:NRDS–Free Report). |
2024-11-27 | ETF Daily News | Brandywine Global Investment Management LLC Sells 487 Shares of Markel Group Inc. (NYSE:MKL) | Brandywine Global Investment Management LLC trimmed its position in shares of Markel Group Inc. (NYSE:MKL–Free Report) by 6.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,765 shares of the insurance provider’s stock after selling 487 shares during the quarter. Brandywine Global Investment Management LLC owned 0.05% of Markel Group worth $9,357,000 at the end of the most recent reporting period. A number of other hedge funds and other institutional investors also recently made changes to their positions in MKL. BI Asset Management Fondsmaeglerselskab A S raised its holdings in shares of Markel Group by 50.0% during the second quarter. BI Asset Management Fondsmaeglerselskab A S now owns 21 shares of the insurance provider’s stock worth $29,000 after acquiring an additional 7 shares during the period. Lee Financial Co acquired a new stake in shares of Markel Group during the second quarter worth $30,000. Clearstead Advisors LLC acquired a new stake in shares of Markel Group during the first quarter worth $32,000. Achmea Investment Management B.V. acquired a new stake in shares of Markel Group during the first quarter worth $41,000. Finally, Covestor Ltd raised its holdings in shares of Markel Group by 244.4% during the second quarter. Covestor Ltd now owns 31 shares of the insurance provider’s stock worth $43,000 after acquiring an additional 22 shares during the period. 76.96% of the stock is owned by institutional investors. Several equities research analysts have issued reports on the stock. Citigroup assumed coverage on shares of Markel Group in a research note on Wednesday, November 22nd. They issued a “sell” rating and a $1,275.00 price target on the stock. Royal Bank of Canada lowered their price target on shares of Markel Group from $1,650.00 to $1,425.00 and set an “outperform” rating on the stock in a research note on Friday, November 3rd. Jefferies Financial Group assumed coverage on shares of Markel Group in a research note on Thursday, September 7th. They set a “buy” rating and a $1,750.00 price objective on the stock.StockNews.comlowered shares of Markel Group from a “buy” rating to a “hold” rating in a research note on Friday, November 3rd. Finally, Truist Financial lowered their price objective on shares of Markel Group from $1,550.00 to $1,400.00 and set a “hold” rating on the stock in a research note on Friday, November 3rd. One analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $1,480.00. Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverRead Our Latest Research Report on MKL In other Markel Group news, Director Steven A. Markel sold 350 shares of the business’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $1,482.52, for a total value of $518,882.00. Following the completion of the sale, the director now owns 70,366 shares of the company’s stock, valued at approximately $104,319,002.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible throughthe SEC website. In other news, DirectorSteven A. Markelsold 350 shares of the company’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $1,482.52, for a total transaction of $518,882.00. Following the completion of the sale, the director now owns 70,366 shares of the company’s stock, valued at approximately $104,319,002.32. The sale was disclosed in a legal filing with the SEC, which is accessible throughthis hyperlink. Also, Director Lawrence A. Cunningham purchased 21 shares of the business’s stock in a transaction dated Wednesday, November 8th. The shares were purchased at an average cost of $1,320.81 per share, with a total value of $27,737.01. Following the acquisition, the director now owns 504 shares in the company, valued at approximately $665,688.24. The disclosure for this purchase can be foundhere. In the last quarter, insiders acquired 222 shares of company stock valued at $295,861 and sold 1,048 shares valued at $1,544,641. Insiders own 1.75% of the company’s stock. Shares ofMKL stockopened at $1,449.66 on Monday. The company has a market capitalization of $19.16 billion, a price-to-earnings ratio of 10.34 and a beta of 0.75. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.63 and a current ratio of 0.63. The company has a 50-day simple moving average of $1,447.20 and a 200 day simple moving average of $1,422.52. Markel Group Inc. has a 52 week low of $1,186.56 and a 52 week high of $1,560.00. Markel Group (NYSE:MKL–Get Free Report) last announced its earnings results on Wednesday, November 1st. The insurance provider reported $16.56 EPS for the quarter, missing the consensus estimate of $21.00 by ($4.44). The company had revenue of $3.64 billion for the quarter, compared to the consensus estimate of $3.66 billion. Markel Group had a return on equity of 8.68% and a net margin of 12.47%. On average, sell-side analysts predict that Markel Group Inc. will post 80.27 earnings per share for the current year. (Free Report) Markel Group Inc, a diverse financial holding company, engages in marketing and underwriting specialty insurance products in the United States, Bermuda, the United Kingdom, rest of Europe, Canada, the Asia Pacific, and the Middle East. The company offers general and professional liability, personal lines, marine and energy, specialty programs, and workers' compensation insurance products; and property coverages that include fire, allied lines, and other specialized property coverages, including catastrophe-exposed property risks, such as earthquake and wind. |
2024-11-27 | ETF Daily News | Hsbc Holdings PLC Purchases 210,375 Shares of Brown & Brown, Inc. (NYSE:BRO) | Hsbc Holdings PLC increased its position in Brown & Brown, Inc. (NYSE:BRO–Free Report) by 86.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 452,672 shares of the financial services provider’s stock after buying an additional 210,375 shares during the period. Hsbc Holdings PLC owned about 0.16% of Brown & Brown worth $31,150,000 at the end of the most recent quarter. Several other hedge funds also recently bought and sold shares of the company. BlackRock Inc. boosted its holdings in Brown & Brown by 1.3% in the 1st quarter. BlackRock Inc. now owns 16,764,258 shares of the financial services provider’s stock worth $962,604,000 after buying an additional 218,939 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Brown & Brown by 2.3% during the 2nd quarter. Principal Financial Group Inc. now owns 12,025,025 shares of the financial services provider’s stock valued at $827,803,000 after purchasing an additional 274,289 shares during the last quarter. Morgan Stanley boosted its holdings in shares of Brown & Brown by 187.2% during the 4th quarter. Morgan Stanley now owns 9,491,448 shares of the financial services provider’s stock valued at $540,728,000 after purchasing an additional 6,186,323 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Brown & Brown by 2.1% during the 1st quarter. Geode Capital Management LLC now owns 5,287,929 shares of the financial services provider’s stock valued at $303,385,000 after purchasing an additional 108,521 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Brown & Brown by 9.7% during the 1st quarter. Invesco Ltd. now owns 3,207,698 shares of the financial services provider’s stock valued at $231,821,000 after purchasing an additional 284,786 shares during the last quarter. Institutional investors own 70.33% of the company’s stock. Several research analysts have commented on BRO shares.StockNews.comstarted coverage on shares of Brown & Brown in a report on Thursday, October 5th. They set a “hold” rating for the company. Truist Financial reissued a “buy” rating and set a $85.00 price objective on shares of Brown & Brown in a report on Friday, September 15th. Citigroup increased their price target on shares of Brown & Brown from $81.00 to $83.00 and gave the company a “buy” rating in a report on Tuesday, September 19th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $77.00 price target on shares of Brown & Brown in a report on Friday, September 15th. Finally, Jefferies Financial Group increased their price target on shares of Brown & Brown from $83.00 to $85.00 in a report on Friday, October 6th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $77.38. Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverRead Our Latest Research Report on Brown & Brown In other news, EVP Stephen M. Boyd sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $70.64, for a total transaction of $176,600.00. Following the transaction, the executive vice president now directly owns 64,471 shares of the company’s stock, valued at $4,554,231.44. The sale was disclosed in a filing with the SEC, which is accessible throughthis hyperlink. Corporate insiders own 16.58% of the company’s stock. Brown & Brown stockopened at $74.50 on Monday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.85 and a quick ratio of 1.85. Brown & Brown, Inc. has a 1-year low of $52.82 and a 1-year high of $74.93. The firm has a market capitalization of $21.20 billion, a P/E ratio of 28.34 and a beta of 0.76. The company’s 50-day moving average is $71.08 and its 200 day moving average is $69.53. Brown & Brown (NYSE:BRO–Get Free Report) last posted its quarterly earnings data on Monday, October 23rd. The financial services provider reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.09. Brown & Brown had a net margin of 18.08% and a return on equity of 15.72%. The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same period in the prior year, the company posted $0.50 EPS. The firm’s revenue for the quarter was up 15.1% on a year-over-year basis. Research analysts forecast that Brown & Brown, Inc. will post 2.76 EPS for the current year. The business also recently announced a quarterly dividend, which was paid on Wednesday, November 15th. Stockholders of record on Wednesday, November 1st were given a dividend of $0.13 per share. The ex-dividend date was Tuesday, October 31st. This is a positive change from Brown & Brown’s previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.70%. Brown & Brown’s dividend payout ratio (DPR) is 19.77%. (Free Report) Brown & Brown, Inc markets and sells insurance products and services in the United States, Canada, Ireland, the United Kingdom, and internationally. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment provides property and casualty, employee benefits insurance products, personal insurance products, specialties insurance products, risk management strategies, loss control survey and analysis, consultancy, and claims processing services. |
2024-11-27 | ETF Daily News | Selective Insurance Group (NASDAQ:SIGI) versus RSA Insurance Group (OTCMKTS:RSNAY) Head to Head Contrast | Selective Insurance Group (NASDAQ:SIGI–Get Free Report) and RSA Insurance Group (OTCMKTS:RSNAY–Get Free Report) are both financial services companies, but which is the better stock? We will contrast the two businesses based on the strength of their earnings, valuation, risk, dividends, institutional ownership, profitability and analyst recommendations. This table compares Selective Insurance Group and RSA Insurance Group’s gross revenue, earnings per share (EPS) and valuation. Selective Insurance Group has higher revenue and earnings than RSA Insurance Group. Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold Forever83.7% of Selective Insurance Group shares are held by institutional investors. 1.5% of Selective Insurance Group shares are held by insiders. Strong institutional ownership is an indication that hedge funds, large money managers and endowments believe a company will outperform the market over the long term. This is a breakdown of current recommendations and price targets for Selective Insurance Group and RSA Insurance Group, as provided by MarketBeat. Selective Insurance Group currently has a consensus target price of $105.17, suggesting a potential upside of 1.97%. Given Selective Insurance Group’s higher probable upside, equities analysts clearly believe Selective Insurance Group is more favorable than RSA Insurance Group. This table compares Selective Insurance Group and RSA Insurance Group’s net margins, return on equity and return on assets. Selective Insurance Group beats RSA Insurance Group on 8 of the 8 factors compared between the two stocks. (Get Free Report) Selective Insurance Group, Inc., together with its subsidiaries, provides insurance products and services in the United States. The company operates through four segments: Standard Commercial Lines, Standard Personal Lines, E&S Lines, and Investments. It offers property insurance products, which covers the accidental loss of an insured's real property, personal property, and/or earnings due to the property's loss; casualty insurance products that covers the financial consequences of employee injuries in the course of employment, and bodily injury and/or property damage to a third party; and flood insurance products. The company also invests in fixed income investments and commercial mortgage loans, as well as equity securities, short-term investments, and alternative investments, and other investments. It offers its insurance products and services to businesses, non-profit organizations, local government agencies, and individuals through independent retail agents and wholesale general agents. The company was founded in 1926 and is headquartered in Branchville, New Jersey. (Get Free Report) RSA Insurance Group plc provides personal and commercial general insurance products. It operates through Scandinavia, Canada, and UK & International segments. The company offers a range of personal insurance products, including home, car, pet, and travel insurance products directly to individuals and families, as well as through brokers and agents. It also provides commercial insurance products, such as property, vehicle and fleet, professional liability, and indemnity and travel insurance, as well as marine, renewable energy, construction and engineering, and rail insurance for small to medium sized enterprises, multinational companies, and sole traders. The company was formerly known as Royal & Sun Alliance Insurance Group plc and changed its name to RSA Insurance Group plc in May 2008. RSA Insurance Group plc was founded in 1706 and is headquartered in London, the United Kingdom. |
2024-11-27 | ETF Daily News | The Hartford Financial Services Group, Inc. (NYSE:HIG) Shares Sold by Vantage Consulting Group Inc | Vantage Consulting Group Inc cut its stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG–Free Report) by 5.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,432 shares of the insurance provider’s stock after selling 196 shares during the quarter. Vantage Consulting Group Inc’s holdings in The Hartford Financial Services Group were worth $247,000 as of its most recent SEC filing. A number of other hedge funds and other institutional investors have also recently bought and sold shares of HIG. Penserra Capital Management LLC lifted its stake in shares of The Hartford Financial Services Group by 8.4% in the 4th quarter. Penserra Capital Management LLC now owns 1,715 shares of the insurance provider’s stock worth $129,000 after acquiring an additional 133 shares during the period. Foundations Investment Advisors LLC lifted its position in The Hartford Financial Services Group by 3.9% in the second quarter. Foundations Investment Advisors LLC now owns 3,734 shares of the insurance provider’s stock valued at $269,000 after purchasing an additional 141 shares during the period. Contravisory Investment Management Inc. boosted its holdings in The Hartford Financial Services Group by 2.3% in the 2nd quarter. Contravisory Investment Management Inc. now owns 6,321 shares of the insurance provider’s stock valued at $455,000 after purchasing an additional 144 shares in the last quarter. Simplicity Solutions LLC lifted its holdings in shares of The Hartford Financial Services Group by 2.7% in the 2nd quarter. Simplicity Solutions LLC now owns 5,711 shares of the insurance provider’s stock valued at $411,000 after buying an additional 148 shares during the period. Finally, Raleigh Capital Management Inc. lifted its holdings in shares of The Hartford Financial Services Group by 72.4% in the 1st quarter. Raleigh Capital Management Inc. now owns 362 shares of the insurance provider’s stock valued at $25,000 after buying an additional 152 shares during the period. 90.81% of the stock is currently owned by hedge funds and other institutional investors. Several equities analysts have weighed in on HIG shares. Piper Sandler raised their price target on The Hartford Financial Services Group from $93.00 to $97.00 and gave the stock an “overweight” rating in a research report on Monday, October 30th.StockNews.comstarted coverage on The Hartford Financial Services Group in a report on Thursday, October 5th. They issued a “buy” rating on the stock. Wells Fargo & Company reduced their target price on The Hartford Financial Services Group from $89.00 to $85.00 and set an “overweight” rating on the stock in a report on Tuesday, October 17th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $77.00 target price on shares of The Hartford Financial Services Group in a report on Monday, July 31st. Finally, Deutsche Bank Aktiengesellschaft started coverage on The Hartford Financial Services Group in a report on Wednesday, October 4th. They issued a “hold” rating and a $85.00 target price on the stock. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $85.43. Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverRead Our Latest Research Report on HIG In related news, EVPStephanie C. Bushsold 5,000 shares of the business’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $72.74, for a total value of $363,700.00. Following the completion of the sale, the executive vice president now directly owns 10,063 shares of the company’s stock, valued at $731,982.62. The sale was disclosed in a filing with the SEC, which can be accessed throughthis link. Insiders sold a total of 6,003 shares of company stock valued at $436,159 over the last three months. 2.00% of the stock is owned by insiders. Shares ofNYSE HIGtraded down $0.24 during midday trading on Monday, reaching $77.91. 149,147 shares of the company’s stock were exchanged, compared to its average volume of 1,729,092. The Hartford Financial Services Group, Inc. has a 52-week low of $64.25 and a 52-week high of $79.44. The stock has a market capitalization of $23.43 billion, a PE ratio of 10.72, a price-to-earnings-growth ratio of 1.37 and a beta of 0.82. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.31 and a current ratio of 0.31. The business’s fifty day moving average price is $72.97 and its two-hundred day moving average price is $72.15. The Hartford Financial Services Group (NYSE:HIG–Get Free Report) last announced its quarterly earnings data on Thursday, October 26th. The insurance provider reported $2.29 earnings per share for the quarter, beating the consensus estimate of $1.95 by $0.34. The firm had revenue of $6.17 billion during the quarter, compared to analyst estimates of $6.17 billion. The Hartford Financial Services Group had a return on equity of 19.05% and a net margin of 9.62%. The Hartford Financial Services Group’s quarterly revenue was up 10.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.44 earnings per share. Analysts forecast that The Hartford Financial Services Group, Inc. will post 8.14 EPS for the current year. The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 3rd. Investors of record on Friday, December 1st will be issued a $0.47 dividend. This is a positive change from The Hartford Financial Services Group’s previous quarterly dividend of $0.43. This represents a $1.88 annualized dividend and a yield of 2.41%. The ex-dividend date is Thursday, November 30th. The Hartford Financial Services Group’s payout ratio is currently 23.32%. (Free Report) The Hartford Financial Services Group, Inc provides insurance and financial services to individual and business customers in the United States, the United Kingdom, and internationally. Its Commercial Lines segment offers insurance coverages, including workers' compensation, property, automobile, general and professional liability, package business, umbrella, fidelity and surety, marine, livestock, and reinsurance through regional offices, branches, sales and policyholder service centers, independent retail agents and brokers, wholesale agents, and reinsurance brokers. Want to see what other hedge funds are holding HIG?Visit HoldingsChannel.comto get the latest 13F filings and insider trades for The Hartford Financial Services Group, Inc. (NYSE:HIG–Free Report). |
2024-11-27 | GlobeNewswire | Athene Executes Block Reinsurance Transaction in Japan | HAMILTON, Bermuda, Nov. 26, 2023 (GLOBE NEWSWIRE) -- Athene Holding Ltd. (“Athene”), a leading provider of retirement services products, has executed a block reinsurance transaction with FWD Life Insurance Co. Ltd., a Japanese domiciled insurer. Under the terms of the agreement, Athene will reinsure an in-force block of whole life insurance policies. In conjunction with the transaction, Athene has also entered into an agreement to retrocede the mortality risk associated with the block to Swiss Re, a leading mortality reinsurer. “We are pleased with this important extension of Athene’s franchise overseas, which demonstrates the capabilities we have developed to support the strategic objectives of insurance companies in the Japanese market,” said Grant Kvalheim, President of Athene. “We look forward to continued growth in this market by delivering thoughtful, customized solutions to clients seeking additional flexibility.” “This transaction builds on the power of Apollo and Athene’s combined offerings to insurers in Japan, helping them to provide their policyholders and clients with long term retirement income,” said Matthew Michelini, Apollo Partner and Head of Asia Pacific. Michael van Vuuren, FWD’s Group Chief Actuary, said, “We are pleased to partner with Athene on this transaction, which furthers our risk management objectives and delivers significant capital benefits to FWD.” This is Athene’s inaugural block reinsurance transaction in the region. Since 2020, Athene has been active in the local new business reinsurance market, with four flow reinsurance agreements executed to date in Japan. About AtheneAthene, through its subsidiaries, is a leading financial services company specializing in retirement services with gross invested assets of $261.2 billion as of September 30, 2023 and operations in the United States, Bermuda, Canada, and Japan. Athene specializes in helping its customers achieve financial security and is a solutions provider to institutions. Founded in 2009, Athene isDriven to Do Morefor our policyholders, business partners and the communities in which we work and live. For more information, please visitwww.athene.com. Contact: Jeanne HessVP, External Relations+1 646 768 7319jeanne.hess@athene.com |
2024-11-27 | ETF Daily News | B2Gold (NYSEAMERICAN:BTG) Shares Gap Up to $3.06 | B2Gold Corp. (NYSEAMERICAN:BTG–Get Free Report) (TSE:BTO) shares gapped up prior to trading on Monday . The stock had previously closed at $3.06, but opened at $3.13. B2Gold shares last traded at $3.12, with a volume of 697,588 shares changing hands. A number of research analysts recently commented on the stock.StockNews.comlowered shares of B2Gold from a “buy” rating to a “hold” rating in a research note on Monday, November 20th. Scotiabank decreased their price target on shares of B2Gold from C$8.00 to C$7.75 in a research note on Friday, August 4th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $4.25 price target on shares of B2Gold in a research note on Friday, September 29th. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $6.30. Read Our Latest Report on BTG Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverThe company has a fifty day moving average of $3.65. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.12 and a current ratio of 2.18. The stock has a market capitalization of $4.03 billion, a P/E ratio of 9.27 and a beta of 1.00. B2Gold (NYSEAMERICAN:BTG–Get Free Report) (TSE:BTO) last issued its quarterly earnings results on Wednesday, November 8th. The basic materials company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.02). B2Gold had a return on equity of 10.44% and a net margin of 13.95%. The firm had revenue of $477.89 million for the quarter, compared to the consensus estimate of $474.00 million. On average, equities research analysts forecast that B2Gold Corp. will post 0.3 EPS for the current year. The company also recently declared a quarterly dividend, which will be paid on Monday, December 18th. Stockholders of record on Monday, December 4th will be issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 5.16%. The ex-dividend date is Friday, December 1st. B2Gold’s dividend payout ratio (DPR) is presently 61.54%. Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Deutsche Bank AG lifted its stake in B2Gold by 10.2% in the 3rd quarter. Deutsche Bank AG now owns 4,958,471 shares of the basic materials company’s stock valued at $14,330,000 after purchasing an additional 457,456 shares during the last quarter. Public Sector Pension Investment Board increased its position in B2Gold by 5.1% in the 3rd quarter. Public Sector Pension Investment Board now owns 2,798,820 shares of the basic materials company’s stock valued at $8,074,000 after acquiring an additional 136,154 shares during the period. Walleye Trading LLC acquired a new position in B2Gold in the 3rd quarter valued at approximately $123,000. Creative Planning acquired a new position in B2Gold in the 3rd quarter valued at approximately $66,000. Finally, The Manufacturers Life Insurance Company increased its position in B2Gold by 2.5% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 3,276,557 shares of the basic materials company’s stock valued at $9,475,000 after acquiring an additional 80,206 shares during the period. Institutional investors own 51.52% of the company’s stock. (Get Free Report) B2Gold Corp. operates as a gold producer with three operating mines in Mali, the Philippines, and Namibia. It operates the Fekola Mine in Mali, the Masbate Mine in the Philippines, and the Otjikoto Mine in Namibia. The company also has an 25% interest in the Calibre Mining Corp.; and approximately 19% interest in BeMetals Corp. |
2024-11-27 | GlobeNewswire | Global Rich Communication Services Market Size To Exceed USD 36.2 Billion By 2032 | CAGR of 22.5% | New York, United States , Nov. 27, 2023 (GLOBE NEWSWIRE) -- The Global Rich Communication Services Market Size is to grow from USD 4.75 Billion in 2022 to USD 36.2 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 22.5% during the projected period. Get a Sample PDF Brochure:https://www.sphericalinsights.com/request-sample/2674 Rich communication services are a category of text-based mobile protocol designed to compete with SMS and MMS texting. It allows users to create group chats, transmit attachments, including photographs and videos, receive read receipts, and leverage end-to-end encryption via cell phones. Rich communication services have numerous advantages, including more focused communication with consumers, security, increased audio and video streaming, one-app functionality, and improved sender authentication. A significant number of rich communication services solutions can also add value to existing messaging technology and help provide clients with a solution similar to over-the-top (OTT) services. All networks are compatible with RCS. One of the important factors driving the rich communication services market growth is the growing usage of RCS across several industrial verticals including healthcare, information technology (IT), hospitality, entertainment, banking, financial services, and insurance (BFSI). Furthermore, a number of other factors, such as the rollout of the 5G network and the convergence of advanced communication services with a variety of technological advancements, such as cloud-based, artificial intelligence (AI), voice-over long-term evolution (VO-LTE), and application programming interface, are fueling an upward trend for the global rich communication services market. Browse key industry insights spread across 200 pages with 120 market data tables and figures & charts from the report on the"Global Rich Communication Services Market Size, Share, and COVID-19 Impact Analysis, By Type (A2P, P2A, P2P), By Industry (Retail, Media & Entertainment, BFSI, Healthcare, Travel & Tourism, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032." Buy Now Full Report:https://www.sphericalinsights.com/checkout/2674 The A2P segment is dominating the market with the largest revenue share over the forecast period.On the basis of type, the global rich communication services market is segmented into the A2P, P2A, and P2P. Among these, the A2P segment is dominating the market with the largest revenue share of 68.3% over the forecast period. Businesses use bulk messaging platforms to send A2P communications to their customers. The use of rich communication services and commercial messaging platforms by different firms for promoting their goods and services to clients is the major factor driving the segment's significant revenue share. The BFSI segment accounted for the largest revenue share of more than 24.7% over the forecast period.On the basis of industry, the global rich communication services market is segmented into retail, media & entertainment, BFSI, healthcare, travel & tourism, and others. Among these, the BFSI segment is dominating the market with the largest revenue share of 24.7% over the forecast period. The increased utilization can be due to the expanding global popularity of mobile banking services. The purpose of rich communication services platforms is to provide banks with capabilities including mobile payments, account opening, credit/debit card requests, bank and ATM location, and customer assistance. Inquire Before Buying This Research Report:https://www.sphericalinsights.com/inquiry-before-buying/2674 North America dominates the market with the largest market share over the forecast period. North America is dominating the market with more than 38.7% market share over the forecast period, owing to the region's increasing deployment of 5G networks and expanding utilization of artificial intelligence (AI) and other sophisticated linked gadgets. Furthermore, the increased use of rich communication services platforms for advertising campaigns by companies such as Subway IP LLC and Express is likely to drive the region's rich communication services market growth. On the contrary, Asia Pacific is predicted to grow the fastest during the forecast period. This rise is the result of increased disposable income and a surge in smartphone penetration in the region. Competitive Analysis: The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Rich Communication Services Market include AT&T, Vodafone, Deutsche Telekom, Google, Verizon, Telefonica, Orange Business, Telit, SK Telecom, Telstra, LG U+, Celcom, Freedom Mobile, Rogers, T-Mobile, O2, Telia Company, Magyar Telekom, Claro, Swisscom, Reliance Jio, and among others. Get Discount At @https://www.sphericalinsights.com/request-discount/2674 Recent Market Developments On May 2023, Global Message Services (GMS)has announced the release of their enterprise AI Chatbots solution, which is targeted at increasing efficiency in departments such as Customer Care, HR and Recruitment, and Marketing and Sales. GMS' AI Chatbots solution compliments GMS' larger leading CPaaS communication platform, offering organizations a one-stop-shop solution for securely engaging with clients via SMS, WhatsApp, Viber, RCS, or Push. Within two weeks, the organization can implement the solution on-premises or in the cloud. Market Segment This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Rich Communication Services Market based on the below-mentioned segments: Rich Communication Services Market, Type Analysis Rich Communication Services Market, Industry Analysis Rich Communication Services Market, Regional Analysis Browse Related Reports: Global Digital Holography Market Size, Share, and COVID-19 Impact Analysis, By Component (Hardware and Software), By Dimension (Two-dimensional, Three-dimensional), By End User (Medical, Commercial, Aerospace & Défense, Automotive, Consumer, Others Verticals), By Application (Holographic Microscopy, Holographic Imaging, Holographic Telepresence, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032 Global Industrial Robotics Market Size, Share, and COVID-19 Impact Analysis, By Type (Articulated, Traditional Robots, Collaborative Robots, Cartesian, Others), By Payload (Heavy Payload, Light Payload), By Application (Handling, Welding & Soldering ,Assembling & Disassembling, Dispensing, Processing, Cleanrooms, Others) By End-User (Automotive, Electrical & Electronics, Metals & Machinery, Chemicals & Petrochemical, Plastics & Rubbers, Food & Beverages, Precision Engineering & Optics, Oil & Gas, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032 United States Mobile Phone Accessories Market Size, Share, and COVID-19 Impact Analysis, By Product Type (Headphone, Charger, Power Bank, Protective Case, Others), By Distribution Channel (Online, Offline), and US Mobile Phone Accessories Market Insights Forecasts to 2032 North America Connected Retail Market Size, Share, and COVID-19 Impact Analysis, By Solution (Software, Hardware), By Technology (Wi-Fi, Zigbee, Bluetooth, NFC and Others), By Services (Managed Service, Remote Device Management Services, Professional Services), By Country (United States, Canada, Mexico, Rest of North America), and North America Connected Retail Market Insights Forecasts 2022 - 2032 About the Spherical Insights & Consulting Spherical Insights& Consultingis a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI. Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements. CONTACT US: For More Information on Your Target Market, Please Contact Us Below: Phone:+1 303 800 4326 (the U.S.) Phone: +91 90289 24100 (APAC) Email:inquiry@sphericalinsights.com,sales@sphericalinsights.com Contact Us:https://www.sphericalinsights.com/contact-us Follow Us:LinkedIn|Facebook|Twitter |
2024-11-27 | ETF Daily News | iSAM Funds UK Ltd Purchases Shares of 6,494 F5, Inc. (NASDAQ:FFIV) | iSAM Funds UK Ltd acquired a new position in shares of F5, Inc. (NASDAQ:FFIV–Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 6,494 shares of the network technology company’s stock, valued at approximately $950,000. Other hedge funds have also made changes to their positions in the company. Raymond James Financial Services Advisors Inc. boosted its holdings in F5 by 3.8% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 1,738 shares of the network technology company’s stock valued at $254,000 after purchasing an additional 63 shares in the last quarter. Inspire Investing LLC increased its stake in F5 by 3.2% in the second quarter. Inspire Investing LLC now owns 2,145 shares of the network technology company’s stock valued at $314,000 after purchasing an additional 67 shares during the period. Kestra Advisory Services LLC raised its holdings in shares of F5 by 2.3% in the second quarter. Kestra Advisory Services LLC now owns 2,990 shares of the network technology company’s stock valued at $437,000 after buying an additional 68 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund raised its holdings in shares of F5 by 3.3% in the third quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 2,135 shares of the network technology company’s stock valued at $309,000 after buying an additional 69 shares during the last quarter. Finally, Commonwealth Equity Services LLC boosted its stake in shares of F5 by 1.9% during the second quarter. Commonwealth Equity Services LLC now owns 3,842 shares of the network technology company’s stock worth $562,000 after buying an additional 70 shares during the period. Hedge funds and other institutional investors own 89.89% of the company’s stock. Shares ofNASDAQ FFIVtraded up $0.20 during midday trading on Monday, hitting $168.29. The company had a trading volume of 65,137 shares, compared to its average volume of 530,054. The firm has a market capitalization of $10.05 billion, a price-to-earnings ratio of 25.58, a price-to-earnings-growth ratio of 3.36 and a beta of 1.03. F5, Inc. has a twelve month low of $127.05 and a twelve month high of $169.01. The business has a 50-day simple moving average of $156.94 and a two-hundred day simple moving average of $153.50. Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverF5 (NASDAQ:FFIV–Get Free Report) last issued its earnings results on Tuesday, October 24th. The network technology company reported $3.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.21 by $0.29. The company had revenue of $707.00 million during the quarter, compared to analysts’ expectations of $701.44 million. F5 had a net margin of 14.04% and a return on equity of 19.14%. The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period last year, the company posted $1.82 earnings per share. On average, equities analysts forecast that F5, Inc. will post 9.19 EPS for the current year. In other F5 news, EVPChad Michael Whalensold 279 shares of the business’s stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $164.84, for a total transaction of $45,990.36. Following the sale, the executive vice president now directly owns 15,614 shares in the company, valued at $2,573,811.76. The transaction was disclosed in a document filed with the SEC, which can be accessed throughthe SEC website. In related news, CEOFrancois Locoh-Donousold 2,200 shares of the stock in a transaction dated Tuesday, October 3rd. The shares were sold at an average price of $160.49, for a total value of $353,078.00. Following the sale, the chief executive officer now directly owns 103,652 shares of the company’s stock, valued at approximately $16,635,109.48. The sale was disclosed in a filing with the SEC, which is available throughthis hyperlink. Also, EVPChad Michael Whalensold 279 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $164.84, for a total transaction of $45,990.36. Following the transaction, the executive vice president now owns 15,614 shares of the company’s stock, valued at $2,573,811.76. The disclosure for this sale can be foundhere. Insiders sold 9,278 shares of company stock valued at $1,467,211 in the last ninety days. Corporate insiders own 0.60% of the company’s stock. Several equities analysts recently issued reports on FFIV shares. Barclays boosted their price target on F5 from $162.00 to $163.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 25th. TheStreet upgraded F5 from a “c+” rating to a “b-” rating in a research note on Wednesday. Royal Bank of Canada lowered their price objective on shares of F5 from $173.00 to $160.00 and set a “sector perform” rating on the stock in a research report on Wednesday, October 25th.StockNews.combegan coverage on shares of F5 in a research note on Thursday, October 5th. They issued a “strong-buy” rating on the stock. Finally, Needham & Company LLC reduced their target price on shares of F5 from $180.00 to $175.00 and set a “buy” rating for the company in a research note on Wednesday, October 25th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $167.75. Read Our Latest Research Report on FFIV (Free Report) F5, Inc provides multi-cloud application security and delivery solutions in the United States, Europe, the Middle East, Africa, and the Asia Pacific region. The company's multi-cloud application security and delivery solutions enable its customers to develop, deploy, operate, secure, and govern applications in any architecture, from on-premises to the public cloud. |
2024-11-29 | ETF Daily News | Head-To-Head Analysis: CalAmp (NASDAQ:CAMP) vs. Baylin Technologies (OTCMKTS:BYLTF) | CalAmp (NASDAQ:CAMP–Get Free Report) and Baylin Technologies (OTCMKTS:BYLTF–Get Free Report) are both computer and technology companies, but which is the superior business? We will contrast the two businesses based on the strength of their institutional ownership, analyst recommendations, valuation, profitability, risk, dividends and earnings. This is a breakdown of recent ratings and recommmendations for CalAmp and Baylin Technologies, as reported by MarketBeat. CalAmp presently has a consensus target price of $2.75, suggesting a potential upside of 683.48%. Given CalAmp’s higher possible upside, research analysts clearly believe CalAmp is more favorable than Baylin Technologies. Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold Forever62.9% of CalAmp shares are owned by institutional investors. 13.6% of CalAmp shares are owned by company insiders. Strong institutional ownership is an indication that large money managers, endowments and hedge funds believe a company is poised for long-term growth. This table compares CalAmp and Baylin Technologies’ net margins, return on equity and return on assets. This table compares CalAmp and Baylin Technologies’ top-line revenue, earnings per share (EPS) and valuation. Baylin Technologies has lower revenue, but higher earnings than CalAmp. CalAmp beats Baylin Technologies on 5 of the 8 factors compared between the two stocks. (Get Free Report) CalAmp Corp., a connected intelligence company, provides leverages a data-driven solutions ecosystem to people and organizations in the United States, Europe, the Middle East, Africa, Latin America, the Asia-Pacific, and internationally. The company operates in two segments, Software & Subscription Services and Telematics Products. It provides CalAmp Telematics Cloud platform, such as cloud-based application enablement and telematics service platforms that facilitate integration of its own applications, as well as those of third parties, through open application programming interfaces; and software as a service application, as well as provides tracking and monitoring services within fleet management, supply chain integrity, and international vehicle location. The company also offers telematics products, including asset tracking units, mobile telematics devices, fixed and mobile wireless gateways, and routers; and advanced telematics products for the broader connected vehicle and Internet of Things marketplace, which enable customers to optimize their operations by collecting, monitoring, and reporting business-critical information and desired intelligence from remote and mobile assets. In addition, it offers professional services, including project management, engineering services, and installation services. The company sells its products and services to customers in the automotive, telecommunications, industrial equipment, transportation and logistics, government and municipalities, insurance, original equipment manufacturers, and leasing companies. It markets through direct sales organization, channel partner program, original equipment manufacturers, and independent sales representatives and distributors, as well as its websites and digital platform. The company was incorporated in 1981 and is headquartered in Irvine, California. (Get Free Report) Baylin Technologies Inc., together with its subsidiaries, researches, designs, develops, manufactures, and sells passive and active radio frequency (RF) products, satellite communications products, and supporting services. It offers embedded antennas for use in smartphones, tablets, and other mobile devices; device-specific antennas for Wi-Fi routers; gateway devices for smart home connectivity, set-top boxes, and land mobile radio products. The company provides RF components, including GaN-based power amplifiers, gallium arsenide-based power amplifiers, indoor and outdoor frequency converters, and transceivers; microwave components comprising point-to-point microwave radios and network management software; and antenna controllers for customers in the broadcast, maritime and cruise ships, government and military, homeland security, direct-to-home satellite, oil and gas, and wireless communications verticals. In addition, it provides RF and microwave solid state power amplifiers; and pulsed amplifiers for radar applications, and transmitter and transceiver products, as well as RF passive components and systems. The company offers its products under the Galtronics, and Advantech Wireless brands. Baylin Technologies Inc. was founded in 1978 and is headquartered in Toronto, Canada. |
2024-11-29 | The Times of India | Property prices up 21.6%, rents grow 13% in year: This NCR area emerges as favourite for affordable homes | Getty Images The report observed that homebuyers favored apartment sizes exceeding 1,250 sq ft, contributing to 54.5% of the total demand. The prices of residential property have increased by 21.6% year-on-year in the Greater Noida West area, according to a report released by Magicbricks Research. Advantageous location, well-planned infrastructure, affordable housing options, and a host of modern amenities have made Greater Noida West an attractive option for homebuyers and investors. With a 13.5% year-on-year surge in rents, this has also witnessed the highest rental growth among all localities of Greater Noida, as per the data. Reasons behind growth in the Greater Noida region One of the major reasons behind this growth is its affordability. Properties in Greater Noida West are relatively more affordable compared to other parts of the National Capital Region (NCR), says Magicbricks Research. Further, the area has seen significant infrastructure development, including better roads, connectivity, and public transport. It is well-connected to major employment centers in Noida, Greater Noida, and even Delhi. These factors have made Greater Noida West more accessible and convenient for budget-conscious homebuyers. Further, this area offers a variety of housing options, including apartments, villas, and plotted developments, catering to a wide range of homebuyers. Several buyers have invested in real estate in Greater Noida West, considering its investment potential, and property values to appreciate in the future. Additionally, various policies and initiatives of the state government to promote real estate in the region have contributed to its growth. Various real estate developers have invested in projects in Greater Noida West, offering modern amenities and well-designed communities. What people are buying in the Greater Noida West Let's look at what people are buying in Greater Noida West. The report observed that homebuyers favored apartment sizes exceeding 1,250 sq ft, contributing to 54.5% of the total demand. When it comes to the preferred price segment, more than 50% of home seekers are searching for properties in the budget segment of Rs 5,000-7,500 per sq ft. Keeping up with the demand, the supply of such properties has also risen 40% year-on-year in the Greater Noida West region. The supply of mid-segment properties (Rs 5,000 per sq ft to Rs 7,500 per sq ft) has jumped by 11% quarter-on-quarter and 40% year-on-year to align with consumer preferences. The supply of high-end real estate units priced between Rs 7,500 per sq ft and Rs 10,000 per sq ft has risen by 2.5% quarter-on-quarter and 7.5% year-on-year. Leading asset classes in Greater Noida West are multi-storey apartments and builder floors accounting for more than 60% of both demand and supply. Homebuyers prefer 3-BHK and larger apartments Around 62% of homebuyers looked for 3-BHK and larger apartments in the region over the last five quarters, according to the Magicbricks data. "Buyers are inclined towards larger apartments in Greater Noida West because, in comparison to other regions in the NCR, these spacious units are available at more competitive prices,” Magicbricks stated. Greater Noida West: Demand from NRIs jumps 15% The demand from Non-Resident Indians (NRIs) jumped substantially over the last 12 months, witnessing a 15% year-on-year surge. NRIs from the United States, Canada, United Kingdom, and UAE constitute 85% of the international demand in Greater Noida West. "United States, United Kingdom and Canada lead demand with year-on-year increases of 99%, 98% and 129% respectively," as per the data. In terms of domestic demand, residents from Delhi, Ghaziabad, Noida, and Mumbai constitute 90% of domestic demand. Top developers in Greater Noida West The top 10 developers collectively account for 76% of the demand and contribute 55% to the total supply, underscoring their significant influence in the market, according to the Magicbricks data. In terms of demand, Saraswati Infra Homes Pvt. Ltd., CRC Group, Dev Sai Construction Pvt. Ltd., Ambesten Home Pvt Ltd., and Gaur Group emerged as the top five developers, as per the data. The top five projects offering the maximum supply in the localities are CRC Sublimis, Devsai Sportshome, Gaur Saundaryam, Fusion The Brook, and Trident Embassy Reso. Commenting on this growth in the Greater Noida West region, Sudhir Pai, CEO of Magicbricks, says, “This year has witnessed a noticeable inclination towards spacious residences, fueling a surge in demand for properties in peripheral regions like Greater Noida West. Boasting reasonably priced housing options, rapid infrastructure enhancements, and proximity to employment hubs, Greater Noida West has swiftly ascended as a highly sought-after locale within the NCR. This remarkable growth isn't just indicative of an investment hotspot but also signals a promising market primed for continual expansion and innovation.” Connect with Experts - Wealth creation made easy ( Originally published on Nov 29, 2023 ) Experience Your Economic Times Newspaper, The Digital Way! Thursday, 30 Nov, 2023 Read Complete ePaper » Digital View Print View Wealth Edition Nifty Reclaims Mt 20k India’s stock benchmarks rose more than 1% on Wednesday with the Nifty closing above 20,000 for the first time since September 13 as receding concerns over further rate hikes in the US revived risk-on sentiment. ED Flags Failure to Submit Papers, Delays by Byju’s The Directorate of Enforcement (ED) has alleged a slew of violations under the foreign exchange law, including failure to submit crucial documents in time as well as realize export proceeds, by Byju’s parent Think & Learn, apart from holding founder Byju Raveendran responsible. HCL Inching Close to Chip Unit in K’taka The HCL Group is moving closer to setting up an Outsourced Semiconductor Assembly and Test (OSAT) facility — also termed as a chip packaging unit — in Karnataka, multiple people aware of the developments told ET. Read More News on property prices in greater noida west greater noida west residential property greater noida property prices property rates in greater noida will property prices rise in greater noida villas in greater noida (Your legal guide on estate planning, inheritance, will and more.) Download The Economic Times News App to get Daily Market Updates & Live Business News. ... more less Read Next How to save Rs 1 crore quickly? Use this 8-4-3 rule NPS investors can now cherry-pick fund managers Punjab and Sind bank extends last date of this spl FD You pay 18% more than the interest on credit card EMI NPS CRA rules, charges for employees, individuals clarified First ever SGB tranche up for redemption on Nov 30 LIC launches life insurance plan with lifetime guaranteed returns What happens if life certificate is not submitted in Nov? Investing in NPS made easier for these subscribers Life certificate: 12 reasons face authentication can fail 1 2 3 4 5 6 7 8 9 10 |
2024-11-29 | ETF Daily News | BRP (NASDAQ:DOOO) Stock Price Down 4.1% | BRP Inc. (NASDAQ:DOOO–Get Free Report) traded down 4.1% during mid-day trading on Monday . The stock traded as low as $69.31 and last traded at $69.37. 41,203 shares changed hands during trading, a decline of 30% from the average session volume of 58,934 shares. The stock had previously closed at $72.32. Several equities analysts have recently issued reports on the company. Royal Bank of Canada boosted their price objective on BRP from C$141.00 to C$147.00 in a research report on Monday, September 11th. BMO Capital Markets cut their target price on BRP from C$154.00 to C$150.00 in a research report on Friday, September 8th. TD Securities upped their target price on BRP from C$110.00 to C$115.00 in a research report on Friday, September 8th. CIBC upped their target price on BRP from C$137.00 to C$138.00 in a research report on Friday, September 8th. Finally, Citigroup upgraded BRP from a “neutral” rating to a “buy” rating and upped their target price for the stock from $81.00 to $94.00 in a research report on Tuesday, September 12th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $135.27. Get Our Latest Stock Report on DOOO Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverThe company has a market cap of $5.37 billion, a P/E ratio of 7.53 and a beta of 2.28. The company has a fifty day simple moving average of $72.80 and a 200-day simple moving average of $77.39. The company has a debt-to-equity ratio of 3.42, a current ratio of 1.40 and a quick ratio of 0.46. BRP (NASDAQ:DOOO–Get Free Report) last posted its quarterly earnings results on Thursday, September 7th. The company reported $2.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.26. The company had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2 billion. BRP had a return on equity of 200.41% and a net margin of 9.09%. On average, sell-side analysts predict that BRP Inc. will post 9.11 earnings per share for the current year. The company also recently announced a quarterly dividend, which was paid on Friday, October 13th. Shareholders of record on Friday, September 29th were paid a dividend of $0.133 per share. This represents a $0.53 annualized dividend and a yield of 0.76%. The ex-dividend date was Thursday, September 28th. BRP’s dividend payout ratio (DPR) is currently 5.70%. Several large investors have recently added to or reduced their stakes in the company. Deutsche Bank AG raised its stake in BRP by 3.1% during the 3rd quarter. Deutsche Bank AG now owns 23,451 shares of the company’s stock valued at $1,779,000 after purchasing an additional 696 shares during the period. Morgan Stanley raised its stake in BRP by 100.4% during the 3rd quarter. Morgan Stanley now owns 628,044 shares of the company’s stock valued at $47,643,000 after purchasing an additional 314,625 shares during the period. The Manufacturers Life Insurance Company raised its stake in BRP by 40.5% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 87,557 shares of the company’s stock valued at $6,675,000 after purchasing an additional 25,247 shares during the period. Royal Bank of Canada raised its stake in BRP by 34.0% during the 3rd quarter. Royal Bank of Canada now owns 589,213 shares of the company’s stock valued at $44,697,000 after purchasing an additional 149,529 shares during the period. Finally, Royal London Asset Management Ltd. raised its stake in BRP by 31.4% during the 3rd quarter. Royal London Asset Management Ltd. now owns 1,717 shares of the company’s stock valued at $130,000 after purchasing an additional 410 shares during the period. 26.68% of the stock is owned by institutional investors and hedge funds. (Get Free Report) BRP Inc, together with its subsidiaries, designs, develops, manufactures, distributes, and markets powersports vehicles and marine products in North America, Europe, Australia, New Zealand, and Latin America. The company operates through two segments, Powersports and Marine. The Powersports segment offers year-round products, such as Can-Am ATVs, SSVs, and 3WVs; seasonal products, including Ski-Doo and Lynx snowmobiles, Sea-Doo PWCs and pontoons, and Rotax engines for karts and recreational aircraft. |
2024-11-29 | ETF Daily News | 121,743 Shares in Canada Goose Holdings Inc. (NYSE:GOOS) Acquired by Trexquant Investment LP | Trexquant Investment LP purchased a new stake in Canada Goose Holdings Inc. (NYSE:GOOS–Free Report) during the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 121,743 shares of the company’s stock, valued at approximately $2,167,000. Trexquant Investment LP owned about 0.12% of Canada Goose as of its most recent SEC filing. Other institutional investors also recently made changes to their positions in the company. ArrowMark Colorado Holdings LLC increased its position in Canada Goose by 34.1% during the 1st quarter. ArrowMark Colorado Holdings LLC now owns 4,217,772 shares of the company’s stock worth $81,192,000 after purchasing an additional 1,073,374 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Canada Goose by 203.0% during the 1st quarter. The Manufacturers Life Insurance Company now owns 3,179,953 shares of the company’s stock valued at $83,715,000 after acquiring an additional 2,130,452 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Canada Goose by 135.6% during the 2nd quarter. Goldman Sachs Group Inc. now owns 1,930,284 shares of the company’s stock worth $34,764,000 after purchasing an additional 1,111,105 shares during the period. Vanguard Group Inc. increased its holdings in Canada Goose by 7.6% in the 3rd quarter. Vanguard Group Inc. now owns 1,779,032 shares of the company’s stock valued at $27,112,000 after purchasing an additional 125,265 shares in the last quarter. Finally, Bank of America Corp DE increased its holdings in Canada Goose by 67.3% in the 4th quarter. Bank of America Corp DE now owns 1,531,805 shares of the company’s stock valued at $27,281,000 after purchasing an additional 616,098 shares in the last quarter. 50.24% of the stock is owned by hedge funds and other institutional investors. GOOSopened at $10.84 on Wednesday. The company has a market capitalization of $1.10 billion, a P/E ratio of 29.30, a PEG ratio of 1.14 and a beta of 1.68. The company has a 50-day moving average of $12.29 and a 200-day moving average of $15.18. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.72 and a current ratio of 2.03. Canada Goose Holdings Inc. has a 1-year low of $9.80 and a 1-year high of $24.73. Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverCanada Goose (NYSE:GOOS–Get Free Report) last posted its quarterly earnings results on Wednesday, November 1st. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.29. The business had revenue of $209.55 million during the quarter, compared to the consensus estimate of $208.78 million. Canada Goose had a return on equity of 21.12% and a net margin of 4.33%. Equities analysts expect that Canada Goose Holdings Inc. will post 0.7 EPS for the current fiscal year. Several brokerages have recently weighed in on GOOS. Barclays decreased their target price on Canada Goose from $18.00 to $11.00 and set an “equal weight” rating for the company in a research report on Thursday, November 2nd. Wells Fargo & Company downgraded shares of Canada Goose from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $25.00 to $20.00 in a research report on Thursday, October 19th. Raymond James began coverage on shares of Canada Goose in a research note on Thursday, September 7th. They issued an “outperform” rating for the company. Evercore set a $11.00 price target on shares of Canada Goose and gave the stock an “in-line” rating in a research note on Tuesday, November 7th. Finally, Evercore ISI started coverage on shares of Canada Goose in a research report on Tuesday, November 7th. They issued an “inline” rating and a $11.00 price objective for the company. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $17.18. Get Our Latest Stock Analysis on Canada Goose (Free Report) Canada Goose Holdings Inc, together with its subsidiaries, designs, manufactures, and sells performance luxury apparel for men, women, youth, children, and babies in Canada, the United States, Asia Pacific, Europe, the Middle East, and Africa. The company operates through three segments: Direct-to-Consumer, Wholesale, and Other. |
2024-11-29 | GlobeNewswire | Foran Announces Size of Previously Announced Brokered Private Placement of C$200 Million | /NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/ VANCOUVER, British Columbia, Nov. 29, 2023 (GLOBE NEWSWIRE) -- Foran Mining Corporation (TSX: FOM) (OTCQX: FMCXF) (“Foran” or the “Company”) is pleased to announce that in connection with the previously announced private placement on November 27, 2023 (the “Offering”), the Company together with BMO Capital Markets as sole bookrunner and co-lead agent together with Eight Capital and National Bank Financial as co-lead agents, on behalf of a syndicate of agents (together the “Agents”), have sized the Offering at C$200 million. The Offering will consist of (i) 46,350,000 common shares of the Company (the “Common Shares”) at an issue price of C$4.10 per Common Share, for gross proceeds of C$190 million; and (ii) 1,563,000 Common Shares with each such Common Share to be issued as a “flow-through share” within the meaning of the Income Tax Act (Canada) (the “FT Shares”) at an issue price of C$6.40 per FT Share, for gross proceeds of C$10 million. The net proceeds of the Offering will be used for exploration and development of the Company’s mineral projects in Saskatchewan, and for working capital and general corporate purposes. The Company will use an amount equal to the gross proceeds from the sale of the FT Shares, pursuant to the provisions in the Income Tax Act (Canada), to incur eligible "Canadian exploration expenses" that qualify as "flow-through critical mineral mining expenditures" as both terms are defined in the Income Tax Act (Canada) (the "Qualifying Expenditures") related to the Company’s mineral projects located in Saskatchewan, on or before December 31, 2024, and to renounce all the Qualifying Expenditures in favour of the subscribers of the FT Shares with an effective date not later than December 31, 2023. The Offering is scheduled to close on or about December 12, 2023, or such other date as the Company and the Agents may agree and is subject to certain conditions including, but not limited to, the execution of an agency agreement and the receipt of all necessary regulatory and other approvals including that of the Toronto Stock Exchange. The securities issued pursuant to the Offering shall be subject to a four-month plus one day hold period commencing on the day of the closing of the Offering under applicable Canadian securities laws. The securities being offered have not, nor will they be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons in the absence of U.S. registration or an applicable exemption from the U.S. registration requirements. This release does not constitute an offer for sale of securities in the United States. FOR ADDITIONAL INFORMATION & MEDIA ENQUIRIES: About Foran Mining Foran Mining is a copper-zinc-gold-silver exploration and development company, committed to supporting a greener future, empowering communities and creating circular economies which create value for all our stakeholders, while also safeguarding the environment. The McIlvenna Bay Project is located entirely within the documented traditional territory of the Peter Ballantyne Cree Nation. The Company also owns the Bigstone Project, a resource-development stage deposit located 25km southwest of its McIlvenna Bay project. McIlvenna Bay is a copper-zinc-gold-silver rich VHMS deposit intended to be the centre of a new mining camp in a prolific district that has already been producing for 100 years. McIlvenna Bay sits just 65km West of Flin Flon, Manitoba and is part of the world class Flin Flon Greenstone Belt that extends from Snow Lake, Manitoba, through Flin Flon to Foran’s ground in eastern Saskatchewan, a distance of over 225km. McIlvenna Bay is the largest undeveloped VHMS deposit in the region. The Company announced the results from its Feasibility Study on February 28, 2022, outlining that current mineral reserves would potentially support an 18-year mine life producing an average of 65 million pounds of copper equivalent annually. The Company filed a NI 43-101 Technical Report for the McIlvenna Bay Feasibility Study on April 14, 2022. And its NI 43-101 Technical Report for the Bigstone Deposit resource estimate on February 11, 2022. Investors are encouraged to consult the full text of these technical reports which may be found on the Company’s profile onwww.sedarplus.ca. The Company’s head office is located at 409 Granville Street, Suite 904, Vancouver, BC, Canada, V6C 1T2. Common Shares of the Company are listed for trading on the TSX under the symbol “FOM” and on the OTCQX under the symbol “FMCXF”. CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS This news release contains certain forward-looking information and forward-looking statements, as defined under applicable securities laws (collectively referred to herein as “forward-looking statements”). These statements relate to future events or to the future performance of Foran Mining Corporation and reflect management’s expectations and assumptions as of the date hereof or as of the date of such forward looking statement. All statements other than statements of historical fact are forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “continues”, “forecasts”, “projects”, “predicts”, “potentially”, “intends”, “likely”, “anticipates” or “believes”, or variations of, or the negatives of, such words and phrases, or state that certain actions, events or results “may”, “could”, “would”, “should”, “might” or “will” be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in such forward-looking statements. The forward-looking statements in this news release speak only as of the date of this news release or as of the date specified in such statement. Inherent in forward-looking statements are known and unknown risks, estimates, assumptions, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements contained in this news release. These factors include management's belief or expectations relating to the following and, in certain cases, management's response with regard to the following: risk factors relating to the timely receipt of all regulatory and third party approvals for the Offering, including that of the Toronto Stock Exchange, that the Offering may not close within the timeframe anticipated or at all or may not close on the terms and conditions currently anticipated by the Company for a number of reasons including, without limitation, as a result of the occurrence of a material adverse change, disaster, change of law or other failure to satisfy the conditions to closing of the Offering; the inability of the Company to apply the use of proceeds from the Offering as anticipated; the use of the gross proceeds of the sale of the FT Shares to incur eligible "Canadian exploration expenses" that qualify as "flow-through critical mineral mining expenditures"; the renouncement of the Qualifying Expenditures in favour of the subscribers of the FT Shares; risks related to obtaining permits and other regulatory approvals with respect to the Company’s mineral properties; The proposed strategic investment by Ontario Teachers’ Pension Plan; the status and progression of credit facility discussions; unlocking the untapped value of the Company’s properties; delivery of superior or any investment returns; scale, scope and location of future exploration and drilling activities; the potential for the Company’s land package to be transformational, the focus of the Company’s future drill programs; the incorporation of geotechnical and hydrogeological information into the overall project design; The long-term investment horizon of shareholders; The growth of the Company from developer to producer; The certainty of funding; The future of the Company; De-risking McIlvenna Bay; Delivering on the Company’s Net Positive Business strategy; Ownership and reliance on the Company’s mineral projects; The Company’s history of losses and potential inability to generate sufficient revenue to be profitable or to generate positive cash flow on a sustained basis; The Company’s statements about the expected life of mine, productive capacity and other technical estimates on its projects, and the Company’s reliance on technical experts with respect thereto; The Company’s exposure to risks related to mineral resources exploration and development; Impact of the COVID-19 Pandemic, Infectious Diseases and Other Health Crises on the Company; Global financial volatility and its impact on the Company; The impact of the Russia-Ukraine conflict; Government, securities, and stock exchange regulation and policy; Legal proceedings which may have a material adverse impact on the Company’s operations and financial condition; Capital market conditions and their effect on the securities of the Company; Insurance and uninsurable risks; Environmental, health and safety regulation and policy; Mining hazards and risks; Title rights to the Company’s projects; Indigenous peoples’ title and other legal claims; Mineral resource and mineral reserve estimates; Uncertainties and risks relating to the Feasibility Studies; Fluctuations in commodity prices, including metals; Competition; Expertise and proficiency of management; Limited operating history; The availability of future financing; Dilutive effects; Impacts of global climate change and natural disasters; Inadequate infrastructure; Relationships with local communities; Reputational damage; Risks arising from the Company’s reliance on financial instruments; Risks arising from future acquisitions; Management conflicts of interest; Security breaches of the Company’s information systems; and the additional risks identified in our Annual Information Form dated March 23, 2023 and other securities filings with Canadian securities regulators available atwww.sedarplus.ca. The forward-looking statements contained in this news release reflect the Company's current views with respect to future events and are necessarily based upon a number of assumptions that, while considered reasonable by the Company, are inherently subject to significant operational, business, economic and regulatory uncertainties and contingencies. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described or intended. Readers are cautioned against undue reliance on forward-looking statements and should note that the assumptions and risk factors discussed above do not contain an exhaustive list of the factors or assumptions that may affect the forward-looking statements, and that the assumptions underlying such statements may prove to be incorrect. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in the Company’s securities filings and this news release. All forward-looking statements herein are qualified by this cautionary statement. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements whether as a result of new information or future events or otherwise, except as may be required by law. Neither the Toronto Stock Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Toronto Stock Exchange) accepts responsibility for the adequacy or accuracy of this release. |
2024-11-29 | ETF Daily News | Lithia Motors, Inc. (NYSE:LAD) Shares Bought by Franklin Resources Inc. | Franklin Resources Inc. boosted its stake in shares of Lithia Motors, Inc. (NYSE:LAD–Free Report) by 14.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 176,276 shares of the company’s stock after purchasing an additional 22,354 shares during the quarter. Franklin Resources Inc. owned approximately 0.64% of Lithia Motors worth $53,607,000 at the end of the most recent reporting period. A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Barrow Hanley Mewhinney & Strauss LLC boosted its position in Lithia Motors by 1.8% during the 1st quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,406,189 shares of the company’s stock valued at $321,919,000 after purchasing an additional 24,341 shares during the period. Dimensional Fund Advisors LP raised its stake in Lithia Motors by 6.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 839,009 shares of the company’s stock valued at $255,152,000 after acquiring an additional 48,010 shares in the last quarter. State Street Corp raised its stake in Lithia Motors by 3.8% during the 1st quarter. State Street Corp now owns 807,874 shares of the company’s stock valued at $242,459,000 after acquiring an additional 29,352 shares in the last quarter. MFN Partners Management LP raised its stake in Lithia Motors by 43.0% during the 1st quarter. MFN Partners Management LP now owns 751,077 shares of the company’s stock valued at $225,413,000 after acquiring an additional 225,806 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its stake in Lithia Motors by 102.9% during the 2nd quarter. Canada Pension Plan Investment Board now owns 676,411 shares of the company’s stock valued at $205,703,000 after acquiring an additional 343,000 shares in the last quarter. Shares ofLithia Motors stockopened at $268.19 on Wednesday. The stock’s fifty day moving average is $268.92 and its 200-day moving average is $280.85. The firm has a market capitalization of $7.38 billion, a PE ratio of 7.14, a price-to-earnings-growth ratio of 2.30 and a beta of 1.57. The company has a quick ratio of 0.32, a current ratio of 1.33 and a debt-to-equity ratio of 1.09. Lithia Motors, Inc. has a 12-month low of $185.00 and a 12-month high of $329.00. Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverLithia Motors (NYSE:LAD–Get Free Report) last issued its quarterly earnings results on Wednesday, October 25th. The company reported $9.25 earnings per share for the quarter, missing analysts’ consensus estimates of $9.99 by ($0.74). Lithia Motors had a net margin of 3.41% and a return on equity of 18.51%. The business had revenue of $8.28 billion for the quarter, compared to analysts’ expectations of $8.17 billion. During the same quarter in the prior year, the firm posted $11.08 EPS. The business’s quarterly revenue was up 13.5% compared to the same quarter last year. Equities analysts anticipate that Lithia Motors, Inc. will post 37.06 earnings per share for the current year. The firm also recently declared a quarterly dividend, which was paid on Friday, November 17th. Stockholders of record on Friday, November 10th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Thursday, November 9th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.75%. Lithia Motors’s dividend payout ratio is 5.33%. Several brokerages have weighed in on LAD. JPMorgan Chase & Co. downgraded Lithia Motors from an “overweight” rating to a “neutral” rating and set a $295.00 target price on the stock. in a research note on Tuesday, October 31st. Wells Fargo & Company dropped their price objective on Lithia Motors from $275.00 to $259.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 26th. Morgan Stanley boosted their price objective on Lithia Motors from $198.00 to $220.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 9th. The Goldman Sachs Group dropped their price objective on Lithia Motors from $348.00 to $300.00 and set a “neutral” rating on the stock in a research note on Thursday, October 26th. Finally,StockNews.cominitiated coverage on Lithia Motors in a research note on Thursday, October 5th. They issued a “hold” rating on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $324.89. View Our Latest Report on LAD (Free Report) Lithia Motors, Inc operates as an automotive retailer. The company operates through Domestic, Import, and Luxury segments. It offers new and used vehicles; vehicle financing services; warranties, insurance contracts, and vehicle and theft protection services; and automotive repair and maintenance services, as well as sells body and parts for the new vehicles under the Driveway and GreenCars brand names. |
2024-11-29 | ETF Daily News | Eastern Bankshares, Inc. (NASDAQ:EBC) Declares Dividend Increase – $0.11 Per Share | Eastern Bankshares, Inc.(NASDAQ:EBC–Get Free Report) announced a quarterly dividend on Thursday, October 26th,Zacksreports. Investors of record on Friday, December 1st will be given a dividend of 0.11 per share on Friday, December 15th. This represents a $0.44 annualized dividend and a yield of 3.65%. The ex-dividend date of this dividend is Thursday, November 30th. This is an increase from Eastern Bankshares’s previous quarterly dividend of $0.10. Eastern Bankshares has a payout ratio of 33.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Eastern Bankshares to earn $1.33 per share next year, which means the company should continue to be able to cover its $0.44 annual dividend with an expected future payout ratio of 33.1%. Eastern Bankshares stockopened at $12.04 on Wednesday. Eastern Bankshares has a 12-month low of $9.93 and a 12-month high of $19.63. The company has a 50-day moving average price of $11.97 and a 200 day moving average price of $12.64. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.82 and a current ratio of 0.83. Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverEastern Bankshares (NASDAQ:EBC–Get Free Report) last released its quarterly earnings results on Thursday, October 26th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.03. The company had revenue of $156.36 million during the quarter, compared to analysts’ expectations of $174.56 million. As a group, analysts expect that Eastern Bankshares will post 1.19 EPS for the current fiscal year. A number of equities research analysts have recently issued reports on EBC shares. JPMorgan Chase & Co. boosted their price target on shares of Eastern Bankshares from $13.00 to $14.00 and gave the company an “underweight” rating in a research note on Wednesday, August 2nd. Seaport Res Ptn reissued a “buy” rating on shares of Eastern Bankshares in a research note on Tuesday, September 12th. Piper Sandler boosted their price target on shares of Eastern Bankshares from $15.00 to $16.50 in a research note on Wednesday, September 20th. Finally, TheStreet raised shares of Eastern Bankshares from a “d+” rating to a “c” rating in a research note on Monday, October 16th. View Our Latest Analysis on Eastern Bankshares In related news, VP Nancy Huntington Stager sold 18,465 shares of the company’s stock in a transaction that occurred on Thursday, October 12th. The shares were sold at an average price of $12.07, for a total transaction of $222,872.55. Following the sale, the vice president now directly owns 7,911 shares of the company’s stock, valued at approximately $95,485.77. The sale was disclosed in a legal filing with the SEC, which is available throughthis link. 1.31% of the stock is owned by insiders. Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Creative Planning grew its holdings in Eastern Bankshares by 5.6% during the 3rd quarter. Creative Planning now owns 115,327 shares of the company’s stock worth $1,446,000 after acquiring an additional 6,145 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in Eastern Bankshares by 25.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 78,553 shares of the company’s stock worth $985,000 after acquiring an additional 16,086 shares in the last quarter. Royal Bank of Canada grew its holdings in Eastern Bankshares by 9.9% during the 3rd quarter. Royal Bank of Canada now owns 100,644 shares of the company’s stock worth $1,263,000 after acquiring an additional 9,078 shares in the last quarter. Legal & General Group Plc grew its holdings in Eastern Bankshares by 1.3% during the 3rd quarter. Legal & General Group Plc now owns 148,747 shares of the company’s stock worth $1,865,000 after acquiring an additional 1,980 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Eastern Bankshares by 5.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,058,043 shares of the company’s stock valued at $13,268,000 after buying an additional 50,540 shares in the last quarter. Institutional investors and hedge funds own 58.03% of the company’s stock. (Get Free Report) Eastern Bankshares, Inc operates as the bank holding company for Eastern Bank that provides banking products and services primarily to retail, commercial, and small business customers. It operates in two segments, Banking Business and Insurance Agency Business. The company provides deposit accounts, interest checking accounts, money market accounts, savings accounts, and time certificates of deposit accounts. |
2024-11-29 | GlobeNewswire | Jushi Holdings Inc. Announces Filing of Preliminary Base Shelf Prospectus | NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITEDSTATES BOCA RATON, Fla., Nov. 29, 2023 (GLOBE NEWSWIRE) --Jushi Holdings Inc.(“Jushi” or the “Company”) (CSE:JUSH)(OTCQX:JUSHF), a vertically integrated, multi-state cannabis operator, announced it has filed a preliminary short form base shelf prospectus with the securities commissions in each of the provinces and territories of Canada (the “Shelf Prospectus”). The Shelf Prospectus, when made final and effective, will allow the Company to offer up to C$600 million of subordinate voting shares, preferred shares, subscription receipts, debt securities, convertible securities, warrants, and units (collectively, the “Securities”), or any combination thereof, from time to time during the 25-month period that the Shelf Prospectus is effective. The final short form base shelf prospectus (the “Final Shelf Prospectus”) is expected be filed prior to the expiry of and will replace the Company’s existing short form base shelf prospectus, which was filed on December 2, 2021, with certain Canadian securities regulatory authorities. The Company intends to file the Final Shelf Prospectus in order to maintain financial flexibility, including responding to significant regulatory improvements and pursuing opportunistic acquisitions. The specific terms of any future offering of Securities under the Final Shelf Prospectus, including the use of proceeds from any such offering, will be established in a prospectus supplement to the Final Shelf Prospectus, which supplement will be filed with the applicable Canadian securities regulatory authorities. The Shelf Prospectus can be found and the Final Shelf Prospectus will be filed under the Company’s profile on SEDAR+ atwww.sedarplus.com. No securities regulatory authority has either approved or disapproved of the contents of this news release. This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the Securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. This news release does not constitute an offer to sell or a solicitation of an offer to sell any Securities to, or for the account or benefit of, persons in the United States or “U.S. persons,” as such term is defined in Regulation S promulgated under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”). The Securities have not been registered under the U.S. Securities Act or any state securities laws and may not be offered or sold within the United States or to U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. About JushiHoldingsInc.We are a vertically integrated cannabis company led by an industry-leading management team. Jushi is focused on building a multi-state portfolio of branded cannabis assets through opportunistic acquisitions, distressed workouts, and competitive applications. Jushi strives to maximize shareholder value while delivering high-quality products across all levels of the cannabis ecosystem. For more information, visit jushico.com or our social media channels,Instagram,Facebook,XandLinkedIn. Forward-LookingInformationandStatementsThis press release may contain “forward-looking statements” and “forward‐looking information” within the meaning of applicable securities laws, including Canadian securities legislation and United States (“U.S.”) securities legislation (collectively, “forward-looking information”) which are based upon the Company’s current internal expectations, estimates, projections, assumptions and beliefs. All information, other than statements of historical facts, included in this press release that address activities, events or developments that Jushi expects or anticipates will or may occur in the future constitutes forward‐looking information. Forward‐looking information is often identified by the words, “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” or similar expressions and includes, among others, information regarding: the approval of the preliminary and final prospectus; future financing opportunities or the filing of prospectus supplements; significant regulatory developments; acquisition opportunities; and other events or conditions that may occur in the future. Readers are cautioned that forward‐looking information is not based on historical facts but instead is based on reasonable assumptions and estimates of the management of Jushi at the time they were provided or made and such information involves known and unknown risks, uncertainties, including our ability to continue as a going concern, and other factors that may cause the actual results, level of activity, performance or achievements of Jushi, as applicable, to be materially different from any future results, performance or achievements expressed or implied by such forward‐looking information. Such factors include, among others: risks relating to U.S. regulatory landscape and enforcement related to cannabis, including political risks; risks relating to anti‐money laundering laws and regulation; other governmental and environmental regulation; public opinion and perception of the cannabis industry; risks related to the economy generally; risks related to inflation, the rising cost of capital, and stock market instability; risks relating to pandemics and forces of nature; risks related to contracts with third party service providers; risks related to the enforceability of contracts; the limited operating history of Jushi; Jushi’s history of operating losses and negative operating cash flows; reliance on the expertise and judgment of senior management of Jushi; risks inherent in an agricultural business; risks related to co‐investment with parties with different interests to Jushi; risks related to proprietary intellectual property and potential infringement by third parties; risks relating to the Company’s recent debt financing and other financing activities including increased leverage and issuing additional equity securities; risks relating to the management of growth; costs associated with Jushi being a publicly-traded company and a U.S. and Canadian filer; increasing competition in the industry; risks associated with cannabis products manufactured for human consumption including potential product recalls; reliance on key inputs, suppliers and skilled labor; reliance on manufacturers and contractors; risks of supply shortages or supply chain disruptions; cybersecurity risks; constraints on marketing products; fraudulent activity by employees, contractors and consultants; tax and insurance related risks; risk of litigation; conflicts of interest; risks relating to certain remedies being limited and the difficulty of enforcing judgments and effecting service outside of Canada; risks related to completed, pending or future acquisitions or dispositions, including potential future impairment of goodwill or intangibles acquired and/or post-closing disputes; sales of a significant amount of shares by existing shareholders; the limited market for securities of the Company; risks related to the continued performance of existing operations in California, Illinois, Massachusetts, Nevada, Ohio, Pennsylvania, and Virginia; risks related to the anticipated openings of additional dispensaries or relocation of existing dispensaries; risks relating to the expansion and optimization of the grower-processor in Pennsylvania, the vertically integrated facilities in Virginia and Massachusetts and the facility in Nevada; risks related to opening new facilities, which is subject to licensing approval; limited research and data relating to cannabis; risks related to challenges from governmental authorities of positions the Company has taken with respect to tax credits; and risks related to the Company’s critical accounting policies and estimates; and these and other risks identified under the “Risk Factors,” “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Business” sections of our most recent Annual Report on Form 10-K and otherwise identified from time to time in our reports and other filings with the U.S. Securities and Exchange Commission and Canadian securities regulators. Although Jushi has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such forward‐looking information will prove to be accurate as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on the forward‐looking information contained in this press release or other forward-looking statements made by Jushi. Forward‐looking information is provided and made as of the date of this press release and Jushi does not undertake any obligation to revise or update any forward‐looking information or statements other than as required by applicable law. Unless the context requires otherwise, references in this press release to “Jushi,” “Company,” “we,” “us” and “our” refer to Jushi Holdings Inc. and our subsidiaries. For further information, please contact: Investor Relations and Media Contact:Lisa FormanDirector of Investor Relations617-767-4419investors@jushico.com |
2024-11-29 | ETF Daily News | Trexquant Investment LP Makes New $1.89 Million Investment in Selective Insurance Group, Inc. (NASDAQ:SIGI) | Trexquant Investment LP purchased a new position in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI–Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 19,702 shares of the insurance provider’s stock, valued at approximately $1,890,000. Several other large investors also recently modified their holdings of SIGI. Morgan Stanley boosted its holdings in Selective Insurance Group by 516.0% in the fourth quarter. Morgan Stanley now owns 1,959,603 shares of the insurance provider’s stock worth $173,641,000 after acquiring an additional 1,641,463 shares in the last quarter. Norges Bank purchased a new position in Selective Insurance Group in the fourth quarter worth $41,343,000. Price T Rowe Associates Inc. MD grew its position in Selective Insurance Group by 317.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 525,083 shares of the insurance provider’s stock valued at $46,527,000 after buying an additional 399,386 shares during the period. Eaton Vance Management grew its position in shares of Selective Insurance Group by 27.0% during the 1st quarter. Eaton Vance Management now owns 998,842 shares of the insurance provider’s stock valued at $89,256,000 after acquiring an additional 212,085 shares during the period. Finally, Balyasny Asset Management L.P. grew its holdings in Selective Insurance Group by 137.2% during the first quarter. Balyasny Asset Management L.P. now owns 314,869 shares of the insurance provider’s stock valued at $30,016,000 after purchasing an additional 182,148 shares during the period. Institutional investors and hedge funds own 83.66% of the company’s stock. Several equities research analysts have commented on the stock. Piper Sandler dropped their price objective on shares of Selective Insurance Group from $112.00 to $106.00 and set a “neutral” rating on the stock in a report on Friday, October 6th.StockNews.comassumed coverage on shares of Selective Insurance Group in a research note on Thursday, October 5th. They set a “hold” rating on the stock. Royal Bank of Canada lifted their price objective on shares of Selective Insurance Group from $105.00 to $108.00 and gave the company a “sector perform” rating in a research note on Friday, November 3rd. Finally, Oppenheimer assumed coverage on Selective Insurance Group in a research report on Thursday, November 16th. They set an “outperform” rating and a $120.00 target price on the stock. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $105.17. Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverGet Our Latest Analysis on Selective Insurance Group Shares ofNASDAQ:SIGIopened at $100.45 on Wednesday. Selective Insurance Group, Inc. has a one year low of $84.47 and a one year high of $108.18. The firm has a fifty day moving average price of $103.64 and a two-hundred day moving average price of $100.90. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.31 and a quick ratio of 0.31. The company has a market cap of $6.09 billion, a price-to-earnings ratio of 19.32, a PEG ratio of 0.74 and a beta of 0.61. Selective Insurance Group (NASDAQ:SIGI–Get Free Report) last announced its earnings results on Wednesday, November 1st. The insurance provider reported $1.51 earnings per share for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.15). Selective Insurance Group had a net margin of 7.97% and a return on equity of 13.86%. The company had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the prior year, the business earned $0.99 earnings per share. Analysts anticipate that Selective Insurance Group, Inc. will post 5.84 EPS for the current fiscal year. The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Wednesday, November 15th will be given a dividend of $0.35 per share. The ex-dividend date is Tuesday, November 14th. This represents a $1.40 annualized dividend and a dividend yield of 1.39%. This is a boost from Selective Insurance Group’s previous quarterly dividend of $0.30. Selective Insurance Group’s dividend payout ratio (DPR) is 26.92%. In other Selective Insurance Group news, CEOJohn J. Marchionisold 20,906 shares of the firm’s stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $102.01, for a total transaction of $2,132,621.06. Following the sale, the chief executive officer now owns 120,554 shares in the company, valued at $12,297,713.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available atthe SEC website. 1.50% of the stock is currently owned by insiders. (Free Report) Selective Insurance Group, Inc, together with its subsidiaries, provides insurance products and services in the United States. The company operates through four segments: Standard Commercial Lines, Standard Personal Lines, E&S Lines, and Investments. It offers property insurance products, which covers the accidental loss of an insured's real property, personal property, and/or earnings due to the property's loss; casualty insurance products that covers the financial consequences of employee injuries in the course of employment, and bodily injury and/or property damage to a third party; and flood insurance products. Want to see what other hedge funds are holding SIGI?Visit HoldingsChannel.comto get the latest 13F filings and insider trades for Selective Insurance Group, Inc. (NASDAQ:SIGI–Free Report). |
2024-11-29 | ETF Daily News | The Manufacturers Life Insurance Company Trims Stake in D.R. Horton, Inc. (NYSE:DHI) | The Manufacturers Life Insurance Company lessened its holdings in shares of D.R. Horton, Inc. (NYSE:DHI–Free Report) by 0.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 220,358 shares of the construction company’s stock after selling 331 shares during the period. The Manufacturers Life Insurance Company owned about 0.07% of D.R. Horton worth $26,815,000 at the end of the most recent reporting period. A number of other hedge funds have also recently modified their holdings of the business. Clear Street Markets LLC purchased a new position in D.R. Horton during the 4th quarter valued at $28,000. Fairfield Bush & CO. purchased a new stake in shares of D.R. Horton during the first quarter valued at $28,000. WealthPLAN Partners LLC bought a new position in shares of D.R. Horton in the first quarter worth about $31,000. Newton One Investments LLC purchased a new position in D.R. Horton in the 2nd quarter worth about $37,000. Finally, Raleigh Capital Management Inc. bought a new stake in D.R. Horton during the 2nd quarter valued at about $41,000. Institutional investors own 82.12% of the company’s stock. In other news, DirectorBarbara K. Allensold 470 shares of the company’s stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $126.21, for a total value of $59,318.70. Following the sale, the director now owns 5,650 shares in the company, valued at $713,086.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed throughthis link. Company insiders own 0.61% of the company’s stock. Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverA number of equities analysts have commented on the stock. Wells Fargo & Company assumed coverage on shares of D.R. Horton in a research note on Tuesday, October 17th. They issued an “overweight” rating and a $123.00 target price on the stock.StockNews.comupgraded D.R. Horton from a “hold” rating to a “buy” rating in a report on Monday, November 20th. The Goldman Sachs Group upgraded D.R. Horton from a “neutral” rating to a “buy” rating and lowered their target price for the stock from $132.00 to $131.00 in a report on Monday, October 16th. Wedbush restated a “neutral” rating and set a $115.00 price target on shares of D.R. Horton in a research note on Tuesday, November 7th. Finally, Royal Bank of Canada lowered their price objective on shares of D.R. Horton from $121.00 to $116.00 and set an “underperform” rating for the company in a research note on Wednesday, November 8th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $134.78. Read Our Latest Research Report on DHI Shares ofDHIopened at $125.96 on Wednesday. The stock has a fifty day moving average price of $112.36 and a 200-day moving average price of $116.26. The company has a current ratio of 6.62, a quick ratio of 0.68 and a debt-to-equity ratio of 0.22. D.R. Horton, Inc. has a 12 month low of $82.69 and a 12 month high of $132.30. The firm has a market cap of $41.97 billion, a PE ratio of 9.10, a P/E/G ratio of 0.72 and a beta of 1.54. D.R. Horton (NYSE:DHI–Get Free Report) last announced its quarterly earnings data on Tuesday, November 7th. The construction company reported $4.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.98 by $0.47. D.R. Horton had a return on equity of 21.85% and a net margin of 13.38%. The firm had revenue of $10.50 billion during the quarter, compared to analysts’ expectations of $10.01 billion. During the same period last year, the business posted $4.67 earnings per share. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. Equities research analysts predict that D.R. Horton, Inc. will post 14.5 earnings per share for the current fiscal year. The business also recently declared a quarterly dividend, which was paid on Tuesday, November 28th. Shareholders of record on Tuesday, November 21st were given a dividend of $0.30 per share. This is an increase from D.R. Horton’s previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend was Monday, November 20th. D.R. Horton’s dividend payout ratio (DPR) is currently 8.67%. (Free Report) D.R. Horton, Inc operates as a homebuilding company in East, North, Southeast, South Central, Southwest, and Northwest regions in the United States. It engages in the acquisition and development of land; and construction and sale of residential homes in 106 markets across 33 states under the names of D.R. |
2024-11-29 | ETF Daily News | Petco Health and Wellness (NASDAQ:WOOF) Stock Price Down 5% | Petco Health and Wellness Company, Inc. (NASDAQ:WOOF–Get Free Report)’s share price traded down 5% during trading on Monday . The stock traded as low as $3.78 and last traded at $3.80. 1,781,131 shares traded hands during trading, a decline of 48% from the average session volume of 3,397,349 shares. The stock had previously closed at $4.00. Several equities analysts have recently issued reports on the company. Needham & Company LLC reduced their target price on Petco Health and Wellness from $12.00 to $8.00 and set a “buy” rating for the company in a report on Friday, August 25th. Wolfe Research assumed coverage on Petco Health and Wellness in a research note on Friday, September 29th. They issued a “peer perform” rating for the company. Morgan Stanley decreased their target price on Petco Health and Wellness from $9.00 to $5.00 and set an “equal weight” rating for the company in a research report on Friday, August 25th. Royal Bank of Canada cut their price target on shares of Petco Health and Wellness from $10.00 to $7.00 and set an “outperform” rating on the stock in a report on Friday, August 25th. Finally, Robert W. Baird reduced their price target on shares of Petco Health and Wellness from $11.00 to $8.00 in a research report on Thursday, August 24th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $8.67. View Our Latest Stock Report on Petco Health and Wellness Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverThe company has a debt-to-equity ratio of 0.66, a current ratio of 0.95 and a quick ratio of 0.33. The firm has a market capitalization of $1.17 billion, a PE ratio of 29.54, a P/E/G ratio of 25.70 and a beta of 1.30. The company’s fifty day simple moving average is $3.64 and its 200 day simple moving average is $6.24. Institutional investors have recently modified their holdings of the business. MetLife Investment Management LLC purchased a new position in Petco Health and Wellness in the 1st quarter valued at approximately $25,000. Deutsche Bank AG raised its stake in shares of Petco Health and Wellness by 607.8% during the 4th quarter. Deutsche Bank AG now owns 3,829 shares of the company’s stock valued at $36,000 after purchasing an additional 3,288 shares during the period. Advisory Services Network LLC lifted its holdings in Petco Health and Wellness by 61.9% during the 1st quarter. Advisory Services Network LLC now owns 4,065 shares of the company’s stock worth $37,000 after purchasing an additional 1,554 shares in the last quarter. FMR LLC boosted its stake in Petco Health and Wellness by 1,396.5% in the 1st quarter. FMR LLC now owns 5,148 shares of the company’s stock worth $46,000 after purchasing an additional 4,804 shares during the period. Finally, CWM LLC grew its holdings in Petco Health and Wellness by 1,254.2% during the 3rd quarter. CWM LLC now owns 15,302 shares of the company’s stock valued at $63,000 after buying an additional 14,172 shares in the last quarter. 48.54% of the stock is currently owned by hedge funds and other institutional investors. (Get Free Report) Petco Health and Wellness Company, Inc, operates as a health and wellness company, focuses on enhancing the lives of pets, pet parents, and its Petco partners in the United States, Mexico, and Puerto Rico. The company provides veterinary care, grooming, training, tele-health, and Vital Care and pet health insurance services, as well as veterinary services through Vetco mobile clinics. |
2024-11-29 | ETF Daily News | Trexquant Investment LP Buys Shares of 14,829 Badger Meter, Inc. (NYSE:BMI) | Trexquant Investment LP bought a new position in shares of Badger Meter, Inc. (NYSE:BMI–Free Report) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 14,829 shares of the scientific and technical instruments company’s stock, valued at approximately $2,188,000. Trexquant Investment LP owned 0.05% of Badger Meter at the end of the most recent quarter. Other institutional investors also recently modified their holdings of the company. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Badger Meter in the 2nd quarter valued at $25,000. Pacer Advisors Inc. bought a new stake in shares of Badger Meter in the second quarter worth about $28,000. DekaBank Deutsche Girozentrale bought a new stake in shares of Badger Meter in the second quarter worth about $70,000. Financial Gravity Asset Management Inc. acquired a new stake in shares of Badger Meter during the second quarter worth about $70,000. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Badger Meter during the 2nd quarter valued at about $87,000. 86.81% of the stock is currently owned by institutional investors and hedge funds. A number of research firms recently issued reports on BMI.StockNews.comcut Badger Meter from a “buy” rating to a “hold” rating in a research note on Tuesday. Stifel Nicolaus reissued a “hold” rating and set a $142.00 price objective on shares of Badger Meter in a research report on Tuesday, September 12th. Finally, Northcoast Research lowered shares of Badger Meter from a “neutral” rating to a “sell” rating and set a $120.00 price objective on the stock. in a report on Friday, September 29th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $146.67. Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverCheck Out Our Latest Stock Analysis on BMI Shares ofBMIopened at $146.89 on Wednesday. Badger Meter, Inc. has a twelve month low of $103.93 and a twelve month high of $170.86. The stock has a market capitalization of $4.31 billion, a P/E ratio of 50.65, a P/E/G ratio of 2.39 and a beta of 0.90. The company has a 50 day moving average of $143.92 and a 200-day moving average of $150.08. Badger Meter (NYSE:BMI–Get Free Report) last announced its earnings results on Thursday, October 19th. The scientific and technical instruments company reported $0.88 EPS for the quarter, topping the consensus estimate of $0.81 by $0.07. Badger Meter had a net margin of 12.78% and a return on equity of 18.28%. The business had revenue of $186.20 million during the quarter, compared to analysts’ expectations of $179.06 million. During the same quarter in the prior year, the company posted $0.61 earnings per share. The firm’s revenue was up 25.8% on a year-over-year basis. On average, sell-side analysts anticipate that Badger Meter, Inc. will post 3.07 earnings per share for the current fiscal year. The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 6th. Stockholders of record on Friday, November 24th will be paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date of this dividend is Wednesday, November 22nd. Badger Meter’s dividend payout ratio is currently 37.24%. (Free Report) Badger Meter, Inc manufactures and markets flow measurement, quality, control, and communication solutions in the United States, Asia, Canada, Europe, Mexico, the Middle East, and internationally. It offers mechanical or static water meters, and related radio and software technologies and services to municipal water utilities. |
2024-11-29 | ETF Daily News | The Manufacturers Life Insurance Company Lowers Stock Holdings in Biogen Inc. (NASDAQ:BIIB) | The Manufacturers Life Insurance Company lessened its stake in shares of Biogen Inc. (NASDAQ:BIIB–Free Report) by 8.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 113,528 shares of the biotechnology company’s stock after selling 10,981 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.08% of Biogen worth $32,338,000 at the end of the most recent quarter. A number of other hedge funds and other institutional investors have also recently bought and sold shares of BIIB. Vanguard Group Inc. increased its stake in shares of Biogen by 1.6% during the first quarter. Vanguard Group Inc. now owns 11,720,584 shares of the biotechnology company’s stock worth $2,468,356,000 after acquiring an additional 183,285 shares during the period. State Street Corp increased its position in Biogen by 2.8% during the 1st quarter. State Street Corp now owns 7,208,906 shares of the biotechnology company’s stock worth $1,518,196,000 after purchasing an additional 197,400 shares during the period. Wellington Management Group LLP increased its position in Biogen by 0.8% during the 1st quarter. Wellington Management Group LLP now owns 5,452,888 shares of the biotechnology company’s stock worth $1,516,066,000 after purchasing an additional 41,675 shares during the period. Geode Capital Management LLC raised its stake in shares of Biogen by 2.6% during the 2nd quarter. Geode Capital Management LLC now owns 3,183,679 shares of the biotechnology company’s stock worth $904,582,000 after buying an additional 80,944 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of Biogen by 771.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 2,556,583 shares of the biotechnology company’s stock valued at $90,400,000 after buying an additional 2,263,120 shares during the period. 85.99% of the stock is currently owned by hedge funds and other institutional investors. A number of research analysts recently weighed in on the company. Oppenheimer dropped their price objective on Biogen from $360.00 to $290.00 and set an “outperform” rating on the stock in a report on Monday, August 7th. BMO Capital Markets lowered their price target on shares of Biogen from $314.00 to $295.00 and set an “outperform” rating on the stock in a research note on Thursday, November 9th. Royal Bank of Canada raised their price objective on shares of Biogen from $351.00 to $363.00 and gave the company an “outperform” rating in a research note on Thursday, November 9th. William Blair restated an “outperform” rating on shares of Biogen in a research report on Thursday, November 9th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $305.00 target price on shares of Biogen in a report on Thursday, October 26th. Five equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat.com, Biogen presently has a consensus rating of “Moderate Buy” and an average target price of $326.08. Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverGet Our Latest Research Report on Biogen BIIB stockopened at $227.41 on Wednesday. The company has a market cap of $32.95 billion, a PE ratio of 22.61, a price-to-earnings-growth ratio of 2.23 and a beta of 0.10. The company has a current ratio of 1.68, a quick ratio of 1.09 and a debt-to-equity ratio of 0.47. The stock has a 50-day moving average price of $246.66 and a two-hundred day moving average price of $268.55. Biogen Inc. has a 12-month low of $220.86 and a 12-month high of $319.76. Biogen (NASDAQ:BIIB–Get Free Report) last issued its earnings results on Wednesday, November 8th. The biotechnology company reported $4.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.99 by $0.37. Biogen had a return on equity of 16.40% and a net margin of 14.63%. The business had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.40 billion. During the same quarter in the previous year, the business earned $4.77 EPS. The company’s revenue for the quarter was up .9% on a year-over-year basis. As a group, research analysts predict that Biogen Inc. will post 14.95 EPS for the current year. In related news, insiderPriya Singhalsold 431 shares of Biogen stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $269.43, for a total transaction of $116,124.33. Following the transaction, the insider now owns 3,354 shares in the company, valued at approximately $903,668.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible throughthis hyperlink. Company insiders own 0.60% of the company’s stock. (Free Report) Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases in the United States, Europe, Germany, Asia, and internationally. The company offers TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for multiple sclerosis (MS); SPINRAZA for spinal muscular atrophy; ADUHELM to treat Alzheimer's disease; FUMADERM to treat plaque psoriasis; BENEPALI, an etanercept biosimilar referencing ENBREL; IMRALDI, an adalimumab biosimilar referencing HUMIRA; FLIXABI, an infliximab biosimilar referencing REMICADE; and BYOOVIZ, a ranibizumab biosimilar referencing LUCENTIS. Want to see what other hedge funds are holding BIIB?Visit HoldingsChannel.comto get the latest 13F filings and insider trades for Biogen Inc. (NASDAQ:BIIB–Free Report). |
2024-11-29 | ETF Daily News | The Manufacturers Life Insurance Company Reduces Holdings in Cardinal Health, Inc. (NYSE:CAH) | The Manufacturers Life Insurance Company lessened its holdings in Cardinal Health, Inc. (NYSE:CAH–Free Report) by 49.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 298,094 shares of the company’s stock after selling 286,900 shares during the period. The Manufacturers Life Insurance Company’s holdings in Cardinal Health were worth $28,191,000 at the end of the most recent reporting period. A number of other hedge funds have also modified their holdings of CAH. Private Trust Co. NA grew its holdings in Cardinal Health by 110.9% during the 2nd quarter. Private Trust Co. NA now owns 1,624 shares of the company’s stock valued at $154,000 after buying an additional 854 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of Cardinal Health by 4.1% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 187,535 shares of the company’s stock valued at $14,159,000 after acquiring an additional 7,431 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in Cardinal Health during the 1st quarter worth about $692,000. Summit X LLC raised its stake in Cardinal Health by 6.8% in the 2nd quarter. Summit X LLC now owns 3,685 shares of the company’s stock valued at $348,000 after purchasing an additional 234 shares during the last quarter. Finally, Korea Investment CORP lifted its holdings in Cardinal Health by 3.1% in the 1st quarter. Korea Investment CORP now owns 135,396 shares of the company’s stock valued at $10,222,000 after purchasing an additional 4,117 shares in the last quarter. 86.01% of the stock is owned by hedge funds and other institutional investors. CAH has been the subject of a number of recent research reports. Evercore ISI lowered their price target on shares of Cardinal Health from $100.00 to $95.00 in a report on Wednesday, October 11th. Robert W. Baird boosted their price target on Cardinal Health from $107.00 to $108.00 and gave the company an “outperform” rating in a report on Wednesday, August 16th. TD Cowen raised their price objective on Cardinal Health from $88.00 to $90.00 and gave the stock a “market perform” rating in a report on Wednesday, August 16th. TheStreet upgraded Cardinal Health from a “c” rating to a “b-” rating in a research note on Tuesday, November 14th. Finally,StockNews.comstarted coverage on Cardinal Health in a research note on Thursday, October 5th. They issued a “strong-buy” rating on the stock. Six investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Cardinal Health presently has a consensus rating of “Moderate Buy” and a consensus target price of $96.83. Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverView Our Latest Analysis on CAH Shares ofCAH stockopened at $106.17 on Wednesday. The company has a market cap of $26.17 billion, a PE ratio of 174.05, a P/E/G ratio of 1.02 and a beta of 0.76. The company’s fifty day simple moving average is $95.20 and its 200-day simple moving average is $91.45. Cardinal Health, Inc. has a 52 week low of $68.53 and a 52 week high of $107.15. Cardinal Health (NYSE:CAH–Get Free Report) last issued its quarterly earnings data on Friday, November 3rd. The company reported $1.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.33. The company had revenue of $54.76 billion during the quarter, compared to the consensus estimate of $54.85 billion. Cardinal Health had a net margin of 0.07% and a negative return on equity of 60.27%. Cardinal Health’s revenue for the quarter was up 10.4% on a year-over-year basis. During the same quarter last year, the company earned $1.20 earnings per share. Equities research analysts expect that Cardinal Health, Inc. will post 6.89 EPS for the current fiscal year. The firm also recently declared a quarterly dividend, which will be paid on Monday, January 15th. Investors of record on Tuesday, January 2nd will be paid a $0.5006 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.89%. The ex-dividend date is Friday, December 29th. Cardinal Health’s dividend payout ratio (DPR) is 327.87%. (Free Report) Cardinal Health, Inc operates as a healthcare services and products company in the United States, Canada, Europe, Asia, and internationally. It provides customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, physician offices, and patients in the home. Want to see what other hedge funds are holding CAH?Visit HoldingsChannel.comto get the latest 13F filings and insider trades for Cardinal Health, Inc. (NYSE:CAH–Free Report). |
2024-11-29 | ETF Daily News | The Manufacturers Life Insurance Company Has $31.57 Million Stock Position in Charles River Laboratories International, Inc. (NYSE:CRL) | The Manufacturers Life Insurance Company lessened its stake in shares of Charles River Laboratories International, Inc. (NYSE:CRL–Free Report) by 9.2% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 150,160 shares of the medical research company’s stock after selling 15,231 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.29% of Charles River Laboratories International worth $31,571,000 as of its most recent SEC filing. Several other institutional investors also recently modified their holdings of the stock. Private Advisor Group LLC grew its position in Charles River Laboratories International by 15.4% during the 1st quarter. Private Advisor Group LLC now owns 1,331 shares of the medical research company’s stock worth $378,000 after acquiring an additional 178 shares during the last quarter. Panagora Asset Management Inc. increased its stake in shares of Charles River Laboratories International by 236.5% in the first quarter. Panagora Asset Management Inc. now owns 2,722 shares of the medical research company’s stock valued at $773,000 after buying an additional 1,913 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in Charles River Laboratories International by 6.6% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,752 shares of the medical research company’s stock valued at $1,917,000 after buying an additional 418 shares during the last quarter. Great West Life Assurance Co. Can boosted its position in Charles River Laboratories International by 0.4% during the 1st quarter. Great West Life Assurance Co. Can now owns 25,049 shares of the medical research company’s stock worth $7,465,000 after buying an additional 107 shares during the period. Finally, Raymond James Trust N.A. grew its holdings in Charles River Laboratories International by 33.7% during the 1st quarter. Raymond James Trust N.A. now owns 1,525 shares of the medical research company’s stock worth $433,000 after acquiring an additional 384 shares during the last quarter. 98.91% of the stock is currently owned by institutional investors and hedge funds. In other Charles River Laboratories International news, CEO James C. Foster purchased 5,620 shares of the firm’s stock in a transaction on Tuesday, November 14th. The stock was acquired at an average price of $178.05 per share, for a total transaction of $1,000,641.00. Following the purchase, the chief executive officer now owns 202,643 shares of the company’s stock, valued at approximately $36,080,586.15. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible throughthis link. In other Charles River Laboratories International news, CEOJames C. Fosteracquired 5,620 shares of the company’s stock in a transaction on Tuesday, November 14th. The shares were purchased at an average cost of $178.05 per share, with a total value of $1,000,641.00. Following the completion of the purchase, the chief executive officer now owns 202,643 shares of the company’s stock, valued at $36,080,586.15. The acquisition was disclosed in a filing with the SEC, which can be accessed throughthis hyperlink. Also, COOBirgit Girshickbought 1,322 shares of the firm’s stock in a transaction dated Monday, November 20th. The shares were acquired at an average cost of $187.82 per share, with a total value of $248,298.04. Following the completion of the transaction, the chief operating officer now owns 44,449 shares of the company’s stock, valued at $8,348,411.18. The disclosure for this purchase can be foundhere. 1.30% of the stock is owned by insiders. Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverA number of analysts recently weighed in on CRL shares. Bank of America decreased their price objective on Charles River Laboratories International from $245.00 to $230.00 in a report on Friday, September 22nd.StockNews.combegan coverage on Charles River Laboratories International in a research report on Thursday, October 5th. They set a “hold” rating for the company. Evercore ISI reduced their target price on Charles River Laboratories International from $235.00 to $225.00 in a report on Wednesday, October 11th. Morgan Stanley decreased their target price on shares of Charles River Laboratories International from $220.00 to $205.00 and set an “equal weight” rating for the company in a research report on Friday, November 10th. Finally, UBS Group dropped their price target on shares of Charles River Laboratories International from $250.00 to $215.00 and set a “buy” rating on the stock in a research report on Thursday, November 9th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $232.54. Check Out Our Latest Stock Report on CRL Shares ofNYSE CRLopened at $195.22 on Wednesday. The firm has a market capitalization of $10.01 billion, a P/E ratio of 21.13, a P/E/G ratio of 2.07 and a beta of 1.35. The firm’s 50-day moving average price is $187.30 and its 200-day moving average price is $198.45. The company has a current ratio of 1.45, a quick ratio of 1.16 and a debt-to-equity ratio of 0.76. Charles River Laboratories International, Inc. has a 1-year low of $161.65 and a 1-year high of $262.00. Charles River Laboratories International (NYSE:CRL–Get Free Report) last issued its earnings results on Wednesday, November 8th. The medical research company reported $2.72 EPS for the quarter, beating analysts’ consensus estimates of $2.35 by $0.37. The business had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1 billion. Charles River Laboratories International had a return on equity of 18.15% and a net margin of 11.27%. The firm’s revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the company posted $2.63 EPS. Equities research analysts anticipate that Charles River Laboratories International, Inc. will post 10.57 earnings per share for the current fiscal year. (Free Report) Charles River Laboratories International, Inc, a non-clinical contract research organization, provides drug discovery, non-clinical development, and safety testing services in the United States, Europe, Canada, the Asia Pacific, and internationally. It operates through three segments: Research Models and Services (RMS), Discovery and Safety Assessment (DSA), and Manufacturing Solutions (Manufacturing). |
2024-11-29 | ETF Daily News | The Manufacturers Life Insurance Company Sells 36,276 Shares of General Mills, Inc. (NYSE:GIS) | The Manufacturers Life Insurance Company decreased its position in shares of General Mills, Inc. (NYSE:GIS–Free Report) by 8.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 408,624 shares of the company’s stock after selling 36,276 shares during the quarter. The Manufacturers Life Insurance Company owned 0.07% of General Mills worth $31,341,000 at the end of the most recent reporting period. Several other large investors have also made changes to their positions in the company. Disciplined Investments LLC boosted its holdings in shares of General Mills by 245.9% in the 1st quarter. Disciplined Investments LLC now owns 294 shares of the company’s stock valued at $25,000 after purchasing an additional 209 shares in the last quarter. FWL Investment Management LLC bought a new stake in shares of General Mills during the 4th quarter worth $25,000. Almanack Investment Partners LLC. acquired a new stake in General Mills in the third quarter valued at about $28,000. Impact Partnership Wealth LLC bought a new position in General Mills in the second quarter valued at about $30,000. Finally, RFP Financial Group LLC raised its stake in General Mills by 573.8% during the second quarter. RFP Financial Group LLC now owns 411 shares of the company’s stock worth $32,000 after acquiring an additional 350 shares in the last quarter. Institutional investors and hedge funds own 75.31% of the company’s stock. A number of equities research analysts have recently weighed in on the stock. Royal Bank of Canada reduced their price target on shares of General Mills from $78.00 to $76.00 and set a “sector perform” rating on the stock in a research note on Thursday, September 21st. BNP Paribas downgraded shares of General Mills from an “outperform” rating to a “neutral” rating and set a $72.00 price target for the company. in a report on Tuesday, September 5th. Stifel Nicolaus cut their price objective on General Mills from $86.00 to $72.00 and set a “buy” rating on the stock in a report on Thursday, September 7th. Wells Fargo & Company lowered their target price on General Mills from $80.00 to $70.00 and set an “equal weight” rating for the company in a report on Thursday, September 7th. Finally, Piper Sandler cut their price target on General Mills from $88.00 to $77.00 and set an “overweight” rating on the stock in a research note on Monday, September 18th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $74.94. Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverView Our Latest Report on GIS Shares ofGeneral Mills stockopened at $63.42 on Wednesday. The company’s 50-day moving average price is $64.29 and its 200-day moving average price is $71.84. The company has a market cap of $36.86 billion, a price-to-earnings ratio of 15.47, a PEG ratio of 2.14 and a beta of 0.27. General Mills, Inc. has a 12-month low of $60.33 and a 12-month high of $90.89. The company has a current ratio of 0.72, a quick ratio of 0.41 and a debt-to-equity ratio of 1.00. General Mills (NYSE:GIS–Get Free Report) last issued its quarterly earnings data on Wednesday, September 20th. The company reported $1.09 EPS for the quarter, topping the consensus estimate of $1.08 by $0.01. General Mills had a return on equity of 24.39% and a net margin of 12.07%. The company had revenue of $4.90 billion during the quarter, compared to analyst estimates of $4.88 billion. During the same quarter in the previous year, the firm earned $1.11 earnings per share. General Mills’s revenue was up 4.0% on a year-over-year basis. On average, equities analysts expect that General Mills, Inc. will post 4.48 earnings per share for the current fiscal year. The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Wednesday, January 10th will be paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 3.72%. The ex-dividend date of this dividend is Tuesday, January 9th. General Mills’s dividend payout ratio (DPR) is presently 57.56%. (Free Report) General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates through four segments: North America Retail; International; Pet; and North America Foodservice. It offers grain, ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, bakery flour, frozen pizza and pizza snacks, snack bars, fruit and salty snacks, ice cream and frozen desserts, nutrition bars, and savory snacks, as well as various organic products, including frozen and shelf-stable vegetables. |
2024-11-29 | ETF Daily News | General Mills, Inc. (NYSE:GIS) Shares Sold by The Manufacturers Life Insurance Company | The Manufacturers Life Insurance Company decreased its position in shares of General Mills, Inc. (NYSE:GIS–Free Report) by 8.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 408,624 shares of the company’s stock after selling 36,276 shares during the quarter. The Manufacturers Life Insurance Company owned 0.07% of General Mills worth $31,341,000 at the end of the most recent quarter. Several other hedge funds have also recently bought and sold shares of GIS. Geode Capital Management LLC raised its stake in shares of General Mills by 2.3% during the 2nd quarter. Geode Capital Management LLC now owns 11,594,011 shares of the company’s stock worth $887,334,000 after buying an additional 257,174 shares during the last quarter. Moneta Group Investment Advisors LLC raised its position in shares of General Mills by 123,599.0% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 11,076,005 shares of the company’s stock worth $928,723,000 after purchasing an additional 11,067,051 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in General Mills by 0.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 10,852,150 shares of the company’s stock valued at $734,907,000 after buying an additional 75,902 shares in the last quarter. Morgan Stanley grew its holdings in General Mills by 14.6% during the 4th quarter. Morgan Stanley now owns 8,249,549 shares of the company’s stock valued at $691,725,000 after buying an additional 1,051,169 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in General Mills by 101.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,935,085 shares of the company’s stock worth $592,673,000 after buying an additional 3,496,741 shares in the last quarter. 75.31% of the stock is owned by hedge funds and other institutional investors. GIS has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft decreased their price target on shares of General Mills from $82.00 to $77.00 and set a “hold” rating on the stock in a research note on Thursday, September 7th. BNP Paribas cut General Mills from an “outperform” rating to a “neutral” rating and set a $72.00 price objective on the stock. in a report on Tuesday, September 5th. JPMorgan Chase & Co. dropped their target price on General Mills from $71.00 to $69.00 and set a “neutral” rating for the company in a research note on Monday, September 18th. The Goldman Sachs Group lowered their price target on General Mills from $70.00 to $61.00 and set a “sell” rating for the company in a report on Wednesday, September 20th. Finally, Royal Bank of Canada cut their price target on shares of General Mills from $78.00 to $76.00 and set a “sector perform” rating on the stock in a research note on Thursday, September 21st. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $74.94. Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverView Our Latest Stock Report on General Mills NYSE GISopened at $63.42 on Wednesday. General Mills, Inc. has a 1-year low of $60.33 and a 1-year high of $90.89. The company has a market capitalization of $36.86 billion, a price-to-earnings ratio of 15.47, a PEG ratio of 2.14 and a beta of 0.27. The stock’s 50 day moving average is $64.29 and its two-hundred day moving average is $71.84. The company has a current ratio of 0.72, a quick ratio of 0.41 and a debt-to-equity ratio of 1.00. General Mills (NYSE:GIS–Get Free Report) last announced its quarterly earnings results on Wednesday, September 20th. The company reported $1.09 EPS for the quarter, beating the consensus estimate of $1.08 by $0.01. General Mills had a return on equity of 24.39% and a net margin of 12.07%. The business had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.88 billion. During the same quarter in the previous year, the firm earned $1.11 EPS. General Mills’s quarterly revenue was up 4.0% on a year-over-year basis. Equities analysts forecast that General Mills, Inc. will post 4.48 earnings per share for the current fiscal year. The company also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Wednesday, January 10th will be given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 3.72%. The ex-dividend date is Tuesday, January 9th. General Mills’s dividend payout ratio (DPR) is currently 57.56%. (Free Report) General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates through four segments: North America Retail; International; Pet; and North America Foodservice. It offers grain, ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, bakery flour, frozen pizza and pizza snacks, snack bars, fruit and salty snacks, ice cream and frozen desserts, nutrition bars, and savory snacks, as well as various organic products, including frozen and shelf-stable vegetables. |
2024-10-15 | The Times of India | After export ban, rice smuggling booms along Indo-Nepal border | IANS Representative image. At the crack of dawn every day, hushed frantic activity begins in villages located along the India-Nepal border here as some residents set out on foot or in small vehicles to smuggle rice into the neighbouring country. Young unemployed men, women and sometimes even the elderly act as carriers for local smugglers and are paid up to Rs 300 for delivering a quintal of rice to warehouses set up across the border by Nepali traders. Most of them make multiple trips to earn as much money as possible. Lakshminagar, Thoothibari, Nichlaul, Parsa Malik, Bargadwa, Bhagwanpur, Shyam Kat, Farenia, Hardi Dali and Khanuva are some of the villages from where it is very easy to cross into Nepal and rice is smuggled, police sources said. Maharajganj shares an 84-km open border with Nawalparasi and Rupandehi districts of Nepal's Lumbini province. Ram Prasad, a rice carrier, said, "The Nepali merchants have set up small warehouses along the border where we deliver the smuggled rice. The warehouses are emptied every week and the collected rice is moved to a bigger warehouse." The carriers do most of the work at the crack of dawn, travelling up to one kilometre from their homes to deliver the rice. They carry rice bags weighing 10 kg or more. The second spurt of activity comes post-lunch, when most locals are indoors, enjoying an afternoon siesta. Some of the carriers also move rice bags in the evening, just before nightfall. They rarely move at night as that is when the risk of getting caught is the highest. According to officials, more than 111.2 tonnes of rice being smuggled into Nepal has been seized by the Sashastra Seema Bal (SSB) and police in the last four months. Most of the people involved in rice smuggling are unemployed. These villagers take rice from the local smugglers and carry it into Nepal. In most cases, young unemployed men and women act as carriers. Sometimes, the elderly can also be involved, the police sources said. Despite efforts by authorities to check the smuggling of rice, the huge margin of profit continues to drive the illicit activity. Local rice traders said the price of rice in Nepal has spiked in the past few months after the Indian government banned exports of non-basmati white rice in July to boost domestic supply and keep retail prices under check during the upcoming festive season. "Following the export ban, the prices of rice in Nepal have gone up. The rice that is sold here for Rs 15-20 per kilogram is being sold for as high as Rs 70 per kilogram in Nepal," claimed Suraj Jaiswal, a local rice trader who used to export rice to Nepal before the ban. "The smugglers pay these carriers up to Rs 300 for carrying a quintal of rice into Nepal. The remaining profits are pocketed by the smugglers. The carriers make as many trips into Nepal as possible in order to make more money," he said. Due to rampant rice smuggling, local traders claimed, prices of rice here have also gone up over the last few months. Ratan Lal Vaishy, an office-bearer of Uttar Pradesh Udyog Vyapar Pratinidhi Mandal , said, "Due to the increased smuggling of rice, its prices have increased." Before July, coarse rice was available at Rs 15 to 20 per kilogram but now it is being sold at Rs 30 to 35 per kilogram. The price rise has forced district authorities to intensify efforts to check smuggling operations. Maharajganj District Magistrate (DM) Anunaya Jha has deployed two six-member teams in Nautanwa and Nichaulal tehsils bordering Nepal to curb rice smuggling. These teams were formed on October 3 and have been directed to provide daily reports on smuggling for further action. "Necessary guidelines have been issued to all concerned officials to curb smuggling in the border areas. We are also coordinating with SSB officials in the operations," Jha said. Experience Your Economic Times Newspaper, The Digital Way! Friday, 03 Nov, 2023 Read Complete ePaper » Digital View Print View Wealth Edition WhatsAppening? Telcos Call Out Tech Cos over Biz SMSes An industry grouping representing India’s top three telcos has accused global consumer-technology majors, such as Microsoft and Amazon, of “presumably circumventing and bypassing the legal telecom route” by using WhatsApp and other unregulated platforms to send enterprise messages to customers, causing a likely ₹3,000-crore annual revenue loss to both the Centre and the service providers. Apple asked to Join CERT-In Probe into iPhone Hacking Bid The government has asked Apple to join a probe into the alleged state-sponsored hacking attempts on iPhones belonging to prominent Indians, including some members of the opposition in Parliament, according to S Krishnan, secretary, ministry of electronics and information technology. Go First Lessors Can Take Back Planes, Engines: DGCA to HC The Directorate General of Civil Aviation (DGCA) told the Delhi High Court Thursday that Go First’s leased aircraft and engines can be preregistered and returned to lessors, severely denting the bankrupt airline’s revival prospects. Read More News on rice export ban rice smuggling Export uttar pradesh udyog vyapar pratinidhi mandal suraj (Catch all the Business News , Breaking News Events and Latest News Updates on The Economic Times .) Download The Economic Times News App to get Daily Market Updates & Live Business News. ... more less Prime Exclusives Investment Ideas Stock Report Plus ePaper Wealth Edition Riding high on the AI wave, are Indian tech startups missing the bus on innovation? Low index option premiums are like Jezebel, sinking retail traders. Prop traders, punters, too, flail Selling cut-price generics, Mark Cuban is shaking up US pharma. Can Indian drug makers benefit? ‘Use no more than what you need’: How Amazon reached the top of India’s green energy market 3 insights to kick-start your day, featuring subscriptions Zurich Insurance-Kotak Mahindra General Insurance deal Stock Radar: Marico sees profit booking after hitting 52-week high in October; should you buy? 1 2 3 View all Stories |
2024-10-30 | The Times of India | Positive on Q3 due to deferred festive demand, expect to get back to double digit volume growth: Amit Syngle, Asian Paints | ETMarkets.com Amit Syngle , MD & CEO, Asian Paints , says “benefit of deferred demand will come in Q3. We are also seeing a longer festival season with Diwali in mid-November. We have a good 40-45-day period when good sales can come in and therefore we are still quite positive on Q3 and therefore we expect to get back to the double digit volume growth in Q3.” ET Now : Volume growth numbers came in at around 6% for Q2 while the Street was expecting 8-9% growth in terms of volumes. Are you still maintaining the double-digit guidance that you have given in terms of the volume growth of the company? Unlock Leadership Excellence with a Range of CXO Courses Offering College Course Website IIM Lucknow IIML Chief Executive Officer Programme Visit Indian School of Business ISB Chief Digital Officer Visit IIM Lucknow IIML Chief Operations Officer Programme Visit So, overall yes, for this quarter we got a 6% volume growth. The CAGR levels if you see are still at about 15% over a four-year period. So, overall, the demand was a little depressed in this quarter in terms of what we saw, especially in the month of July where there was very heavy rainfall and progressively seen August and September there was some improvement and we exited at fairly healthy rates in September as we see in terms of overall performance to that extent. We definitely see some benefit of deferred demand which will come in Q3. We are also seeing a longer festival season with Diwali in mid-November. We have a good 40-45-day period when good sales can come in and therefore we are still quite positive on Q3 and therefore we expect to get back to the double digit volume growth in Q3. Last time you had mentioned that the performance was aided by rural recovery. What trends are you witnessing right now when it comes to the rural and urban regions? During Q2, we have seen that tier I and tier II cities have grown at a higher pace as compared to T3, T4. This is a little bit of a reversal of a trend which we were seeing in Q1 where we were seeing equal growth coming from both urban and rural centres. But in this quarter, we definitely see that in rural centres, demand has been depressed. We are also seeing a little bit of downgrading in the T3, T4 cities overall towards that extent and that is another phenomenon which we see. Overall, the B2B business has been fairly good in terms of what we have been able to achieve. Whether it is the institutional sales or industrial sales, both have performed quite well in this quarter overall to that extent. So, from the overall demand trends we see this is the general area in terms of how the demand has proceeded. You Might Also Like: Asian Paints Q2 numbers weak, demand should pick up from Q3: Preeyam Tolia It was subdued a little bit because of the erratic rainfall as we have seen and also because of the fact that today we are looking at a longer festival season ahead so there is some deferment of demand. In crude prices, a surge is seen coming in. Will you be taking any price hikes now? Overall, we have seen a deflation of about 2% in Q1 in terms of raw material prices and a deflation of 3-4% in Q2 as well. The geopolitical situation is now worsening and we have seen a hike in terms of the crude prices. So depending on how inflation behaves, there is reason to believe that material prices will start going up by 1-1.5% in this quarter. So, we will calibrate our prices going forward. We need to get a sense in terms of where the inflation is going going ahead from the point of view of material prices. Apart from crude, will the margin pressure also stem from increased competition given the fact that Grasim will also be launching its product by the end of this calendar year? We have given our margin guidance at the PBIT levels of 18% to 20% and we stick to that guidance from the beginning of the year. Overall, I have always maintained that there has been competition in the market for the last 20 years. Overall so many players have launched in the last three to four years that we do not see any pressures coming in terms of any new players entering the business because the brand is fairly strong and the supply chains trends are also equally strong for taking us ahead. We do not see any disruption happening from the point of view of any margins or any other demand which is going to get hit because of any entry of another player. In terms of your international business, we are seeing headwinds coming in and challenges from the macroeconomic front, in terms of currency depreciation and devaluations coming in in some of the regions. What is the outlook there? We feel that the global market is responding slowly. We have done well in the Middle East market and parts of Africa which is Ethiopia; however, the overall market in Asia has been hit very strongly, especially markets of Nepal and Bangladesh. Bangladesh and Egypt are also witnessing strong depreciation in terms of their currencies overall to that extent. We feel that the global markets will be slow to recover and we are not seeing an immediate recovery happening in Q3 in terms of the global markets. You Might Also Like: ETMarkets Smart Talk: India must take advantage of the break up western world is having with China: Prashant Kothari Connect with Experts - Wealth creation made easy Experience Your Economic Times Newspaper, The Digital Way! Friday, 03 Nov, 2023 Read Complete ePaper » Digital View Print View Wealth Edition WhatsAppening? Telcos Call Out Tech Cos over Biz SMSes An industry grouping representing India’s top three telcos has accused global consumer-technology majors, such as Microsoft and Amazon, of “presumably circumventing and bypassing the legal telecom route” by using WhatsApp and other unregulated platforms to send enterprise messages to customers, causing a likely ₹3,000-crore annual revenue loss to both the Centre and the service providers. Apple asked to Join CERT-In Probe into iPhone Hacking Bid The government has asked Apple to join a probe into the alleged state-sponsored hacking attempts on iPhones belonging to prominent Indians, including some members of the opposition in Parliament, according to S Krishnan, secretary, ministry of electronics and information technology. Go First Lessors Can Take Back Planes, Engines: DGCA to HC The Directorate General of Civil Aviation (DGCA) told the Delhi High Court Thursday that Go First’s leased aircraft and engines can be preregistered and returned to lessors, severely denting the bankrupt airline’s revival prospects. Read More News on asian paints asian paints q2 results volume growth Q3 demand amit syngle festival season expert view Stock Market et now asian paints (What's moving Sensex and Nifty Track latest market news , stock tips and expert advice on ETMarkets . Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Download The Economic Times News App to get Daily Market Updates & Live Business News. Top Trending Stocks: Sensex Today Live , SBI Share Price , Axis Bank Share Price , HDFC Bank Share Price , Infosys Share Price , Wipro Share Price , NTPC Share Price ... more less Pick the best stocks for yourself
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2024-10-03 | The Times of India | Indian projects in Nepal make headway while BRI falters | Reuters Nepalese PM Pushpa Kamal Dahal ‘Prachanda’ said in Parliament on Sunday that during his recent meetings with Chinese leaders discussions were held on construction of a transmission line in the northern border region, installation of solar power plants along the border, construction of various roads and expansion of cooperation in the health and agriculture sectors. However, a number of Chinese projects in Nepal exist only on paper, in stark contrast to projects funded by India in the Himalayan country, where India’s grant assistance to Nepal totals around $63 billion, ET has learnt. Prachanda visited China late last month and reportedly got assurance of funding for 12 projects, even as there has been little progress on projects under China’s Belt and Road Initiative ( BRI ) projects in Nepal, according to people with knowledge of the matter. Nepal signed the BRI agreement with China in 2017. However, the country has yet to reap the benefits of the agreement, even as some Nepalese leaders sought Chinese funds to reduce dependence on India. China has raised the issue of delayed BRI projects with Nepalese leaders, but there is no clarity as to why the projects have been delayed, according to Nepal watchers. Some of the projects were added to the BRI at the insistence of some Nepalese leaders, they said. In contrast, since 2018, including during the Covid-19 pandemic, India-backed projects have either been completed or are nearing completion. From border check-posts to healthcare services to road-rail links and power projects, India has launched projects across sectors in the neighbouring country. India’s concessional line of credit to Nepal amounts to $1.65 billion for 22 projects. Besides, the High Impact Community Development Projects programme has been extended up to Rs 3.125 crore per project in critical sectors, including health, education and community infrastructure development. The Indian funded projects that have been completed include integrated check posts at Birgunj and Biratnagar; Motihari-Amlekhgunj petroleum products pipeline; Terai roads project; and Jayanagar-Kurtha-BijalpuraBardibas rail link, two phases of which have been completed and work on the third phase is continuing. Other India-backed projects in Nepal include Jogbani-Biratnagar rail link, 900 MW Arun-III Hydro Electric Project and post-earthquake reconstruction works across housing, education and cultural heritage sectors. Experience Your Economic Times Newspaper, The Digital Way! Friday, 03 Nov, 2023 Read Complete ePaper » Digital View Print View Wealth Edition WhatsAppening? Telcos Call Out Tech Cos over Biz SMSes An industry grouping representing India’s top three telcos has accused global consumer-technology majors, such as Microsoft and Amazon, of “presumably circumventing and bypassing the legal telecom route” by using WhatsApp and other unregulated platforms to send enterprise messages to customers, causing a likely ₹3,000-crore annual revenue loss to both the Centre and the service providers. Apple asked to Join CERT-In Probe into iPhone Hacking Bid The government has asked Apple to join a probe into the alleged state-sponsored hacking attempts on iPhones belonging to prominent Indians, including some members of the opposition in Parliament, according to S Krishnan, secretary, ministry of electronics and information technology. Go First Lessors Can Take Back Planes, Engines: DGCA to HC The Directorate General of Civil Aviation (DGCA) told the Delhi High Court Thursday that Go First’s leased aircraft and engines can be preregistered and returned to lessors, severely denting the bankrupt airline’s revival prospects. Read More News on Nepal India solar power plants Indian projects in Nepal BRI Pushpa Kamal Dahal ‘Prachanda’ (Catch all the Business News , Breaking News Events and Latest News Updates on The Economic Times .) Download The Economic Times News App to get Daily Market Updates & Live Business News. ... more less Prime Exclusives Investment Ideas Stock Report Plus ePaper Wealth Edition Riding high on the AI wave, are Indian tech startups missing the bus on innovation? Low index option premiums are like Jezebel, sinking retail traders. Prop traders, punters, too, flail Selling cut-price generics, Mark Cuban is shaking up US pharma. Can Indian drug makers benefit? ‘Use no more than what you need’: How Amazon reached the top of India’s green energy market 3 insights to kick-start your day, featuring subscriptions Zurich Insurance-Kotak Mahindra General Insurance deal Stock Radar: Marico sees profit booking after hitting 52-week high in October; should you buy? 1 2 3 View all Stories |
2024-10-08 | The Times of India | Rajat Sharma added Bandhan Bank and Panacea Biotech to his portfolios. Here’s why | ETMarkets.com Rajat Sharma, CEO, Sana Securities , says “in the last two years, Bandhan Bank first acquired home lending business Gruh Finance, then they got into AMC business. They acquired IDFC Mutual Fund Business, which is now Bandhan Mutual Fund. So now going forward, I would not be surprised if we see quarter on quarter, their net interest margins jumping sharply because they have got enough money to give out, enough credit offtake, which they can do with the raw material they have on their books. ” What has been keeping you busy in terms of portfolio allocation? How have you changed? What have you allocated? What have you subtracted in the last three months? I have not done things very differently. It is the same stocks that we are holding and buying more of, which I have spoken about many times. The same ITC, Infosys, Coal India, ONGC, Lupin. We have just added two more stocks. In fact, added one more and initiated coverage on the other one. One is Bandhan Bank because I was going through their financials and it is a very unique bank because most other banking stocks, banking sector in general, you will see the credit offtake is usually very high compared to their deposits growth. This is one bank where deposits are growing really rapidly. And their credit offtake, their lending is not growing as fast. I think the reason is they probably wanted to maintain much cash on their books because the company has done a lot. Unlock Leadership Excellence with a Range of CXO Courses Offering College Course Website IIM Lucknow IIML Chief Marketing Officer Programme Visit IIM Lucknow IIML Chief Executive Officer Programme Visit IIM Lucknow IIML Chief Operations Officer Programme Visit In the last two years, they first acquired home lending business Gruh Finance, then they got into AMC business. They acquired IDFC Mutual Fund Business, which is now Bandhan Mutual Fund. So now going forward, I would not be surprised if you see quarter on quarter, their net interest margins jumping sharply because they have got enough money to give out, enough credit off-take, which they can do with the raw material they have on their books. Also, valuation-wise, it is amazingly cheap compared to most of the other banking stocks. It is right now available at a price to earnings in multiple of 19. And most of the businesses they have added, will also start generating revenue. So that is one stock which I am having in my portfolio, all client portfolios. Everywhere we have portfolios, you will see we have added Bandhan Bank. The other stock that I am looking at is Panacea Biotech . It is a very interesting company. In pre-Covid days, they had a lot of debt on their books. Around Covid, they restructured the company. They have paid off all their debt. It is a debt-free company. They got out of low production markets like India and Nepal, which is where they did their portfolio immunization. And now they are focusing more on developing nations. In Africa, they have patented their polio vaccination in 30 countries. Their big clients are the Government of India, UNICEF, and the Pan American Health Organization. Their order book stands at Rs 1040 crore. That is one stock that I really like. So, these are the only two stocks that I am looking at. But broadly, to answer your question, I meet clients and they are very eager to add stocks into their portfolios because stock markets have done phenomenally well. What I tell them is that, keep maintaining a balance between the money you have in your fixed income products, in your banks, and what you are investing in stocks. To the extent you have incremental money coming in, have an allocation mix and keep dividing it equally. So, I have not done very much differently in the last few months. Connect with Experts - Wealth creation made easy Print Edition Thursday, 02 Nov, 2023 Experience Your Economic Times Newspaper, The Digital Way! Read Complete Print Edition » Front Page Pure Politics Companies Brands & Companies Learn more about our print edition More Octoberfest: Most Macro Indicators Enter Party Zone India’s goods and services tax (GST) revenue rose 13% in October to ₹1.72 lakh crore, the second highest monthly collection since the levy was rolled out in July 2017, riding robust festive demand and improved compliance. Big FMCG Bite Gives Teeth to Revival Recipe Global research firm Kantar said it is seeing the start of a turnaround in the fast-moving consumer goods (FMCG) sector, after demand for daily groceries and essentials increased 7.2% year-on-year in the September quarter. Apollo Bets Big on Pvt Credit Space in India Pivoting away from their swashbuckling playbook of big-bang buyouts, most marque PE funds are now embracing private credit as the cost of funds surges to their highest since 2008. Apollo’s private credit unit now manages more than $400 billion in AUM, four times the size of its buyout arm, which has been the linchpin of its business. In an exclusive interview with Swaraj Dhanjal and Arijit Barman in Mumbai during his first India trip, James C Zelter, co-president of the firm, talks about this mega shift in high finance. Read More News on bandhan bank shares bandhan bank panacea biotech panacea biotech shares rajat sharma portfolio sana securities (What's moving Sensex and Nifty Track latest market news , stock tips and expert advice on ETMarkets . Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) 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2024-10-20 | The Indian Express | Telangana Assembly polls: Migrant workers unite to put up political fight for pending demands | As political parties gear up for the Telangana Assembly elections on November 30, the state’s migrant workers residing in over 20 foreign countries have resolved to enter the poll fray and put up a strong fight to highlight their demands and neglect from the state and central governments. Declaring themselves as a vote bank of over 1 crore votes in a state with just over 3 crore voters, they have not only identified six Assembly constituencies in northern Telangana to fight elections but also decided to have family members and widows of Gulf victims enter the fray by filing over a 100 nominations in Kamareddy Assembly constituency, one of the two seats chosen by Chief Minister K Chandrashekar Rao to contest this time. The six constituencies are Vemulawada, Korutla, Jagityal, Balkonda, Nirmal, and Sircilla. To this effect, a ‘Dubai-declaration’ was passed by representatives of more than 24 migrants’ rights and welfare unions that gathered in Dubai last week. As a strategy to also draw national attention, this was tried out earlier in the NizamabadLok Sabhapolls of 2019 where turmeric farmers, upset over the non-establishment of the Turmeric Board, filed over 200 nominations in the run-up to the polls that saw then MP Kalvakuntla Kavitha, the chief minister’s daughter, lose the contest toBJP’s Aravind Dharmapuri. Earlier in 1996, Nalgonda Lok Sabha constituency had seen a record 480 nominations as a protest from its fluoride-affected villagers. According to government estimates, there are approximately 15 lakh Telangana workers in the Gulf as well as South Asian countries, in addition to another 25 lakh workers who have returned home over the years. On October 14 and 15, more than 25 organisations based in Telangana and various Gulf countries convened in Dubai and interacted with Gulf migrants over the week. Guggilla Ravi Goud, convenor of the Telangana Gulf Workers Joint Action Committee, an umbrella organisation of 24 unions, toldindianexpress.comthat their demands have been neglected for too long by governments at the Centre and the state. Goud, who has decided to contest the polls from the Vemulawada Assembly constituency, said political parties and governments have done nothing more than offer lip service. He says the state government’s promises to spend an annual budget of Rs 500 crore for Gulf workers, establish a Telangana Gulf Workers Welfare Board, and develop a state NRI policy have remained promises to date. “Nearly 2,000 Telangana people have died in Gulf countries in the last 10 years. There is no ex-gratia. A large number of people are languishing in jails abroad for technical mistakes and our governments do not offer legal or financial assistance. It is terrible that their names are being removed from the ration cards back home due to their non-availability to fulfil KYC needs. Though we are the biggest remitters of foreign money, we do not have schemes for Gulf workers’ families welfare,” he said. Adding to this, Mandha Bheem Reddy, president of Emigrants Welfare Forum, said that since their names are being removed from ration cards, they are unable to avail Arogyasri health scheme or other social security benefits such as Dalit Bandhu or BC Bandu schemes. “These are poor workers who left their families behind to earn a livelihood in a foreign land. DuringCOVID-19repatriation, the government of India charged double the flight charges from them. Unlike other state governments like Maharashtra, Kerala and Andhra Pradesh who offered free quarantine facilities, the Telangana government collected money from these poor people,” Reddy underlined. According to Swadesh Parkipandla, president of Pravasi Mitra Labour Union, the single point agenda of the meeting convened in Dubai was to discuss the state and Centre’s non-serious attitude towards the welfare of migrant workers and hence the need to take the political plunge. “We have the candidates already. We have met with migrant workers in the Gulf and held late-night meetings with them at labour camps over the week. While they would not go back to cast their votes, they would influence and convince their families and friends back home. We will use voice calls, video calls, and social media and whatever we can to put our message across,” Parkipandla said. One of the grouses the workers have against the Centre is regarding the Pravasi Bharatiya Bima Yojana (PMBY) which offers Rs 10 lakh insurance cover towards accidental death or permanent disability leading to loss of employment. “We have been demanding the government to include even natural deaths in this and the insurance should be available to all migrants irrespective of their passport status – ECR (Emigration Check Required) or ECNR (Emigration Check Not Required ). We are ready to pay an increased premium and yet the government does not want to be the facilitator,” added Reddy. Along withTelangana workers from 18 ECR countriessuch as Saudi Arabia, Kuwait, Oman, Yemen, UAE, Malaysia etc, workers associations in countries such as Singapore have joined the cause. Earlier, during the Huzurabad byelections of 2021, a similar plan to field a candidate was floated to put pressure on the government but not put into effect. While Congress MPRahul Gandhiis scheduled to meet with families of Gulf migrants in Telangana on Friday as part of his three-day visit to the state, the leaders say it will not affect their decision to contest the polls. |
2024-10-22 | The Times of India | Cyclone Tej to intensify into 'severe cyclonic storm' before noon today: IMD | Agencies Cyclone Tej A cyclone brewing over the Arabian Sea - christened Tej - is set to intensify into an extremely severe cyclonic storm on Sunday, according to the India Meteorological Department. "VSCS (very severe cyclonic storm) Tej lay centred at 2330 IST on October Oct 21 over SW Arabian Sea, about 330 km ESE of Socotra (Yemen), 690 km SSE of Salalah (Oman), and 720 km SE of Al Ghaidah (Yemen). Very likely to intensify further into an extremely severe cyclonic storm in the forenoon of October 22," the government agency said in a post on X (formerly Twitter). Meanwhile, another cyclone is likely forming on the other coast, in the Bay of Bengal, which has been given the monicker Hamoos. "The WML over the Bay of Bengal concentrated into a depression and lay centred at 2330 IST of October 21 over westcentral Bay of Bengal, about 620 km south of Paradip (Odisha), 780 km south of Digha (West Bengal), and 900 km SSW of Khepupara (Bangladesh)," the agency informed. According to Skymet Weather, the system will likely intensify further and move towards the west-central and adjoining northwest Bay of Bengal. "It is likely to move northwestwards during the next 12 hours, then recurve and move north-northeastwards during the subsequent 3 days towards Bangladesh and adjoining West Bengal coasts," IMD said. The IMD says that the Tej cyclone will cross over the Yemen-Oman coasts between Al Ghaidah (Yemen) and Salalah (Oman) in the early hours of October 25. Experience Your Economic Times Newspaper, The Digital Way! Friday, 03 Nov, 2023 Read Complete ePaper » Digital View Print View Wealth Edition WhatsAppening? Telcos Call Out Tech Cos over Biz SMSes An industry grouping representing India’s top three telcos has accused global consumer-technology majors, such as Microsoft and Amazon, of “presumably circumventing and bypassing the legal telecom route” by using WhatsApp and other unregulated platforms to send enterprise messages to customers, causing a likely ₹3,000-crore annual revenue loss to both the Centre and the service providers. Apple asked to Join CERT-In Probe into iPhone Hacking Bid The government has asked Apple to join a probe into the alleged state-sponsored hacking attempts on iPhones belonging to prominent Indians, including some members of the opposition in Parliament, according to S Krishnan, secretary, ministry of electronics and information technology. Go First Lessors Can Take Back Planes, Engines: DGCA to HC The Directorate General of Civil Aviation (DGCA) told the Delhi High Court Thursday that Go First’s leased aircraft and engines can be preregistered and returned to lessors, severely denting the bankrupt airline’s revival prospects. Read More News on imd storm cyclone severe cyclonic storm cyclone Tej wml (Catch all the Business News , Breaking News Events and Latest News Updates on The Economic Times .) Download The Economic Times News App to get Daily Market Updates & Live Business News. ... more less Prime Exclusives Investment Ideas Stock Report Plus ePaper Wealth Edition Riding high on the AI wave, are Indian tech startups missing the bus on innovation? Low index option premiums are like Jezebel, sinking retail traders. Prop traders, punters, too, flail Selling cut-price generics, Mark Cuban is shaking up US pharma. Can Indian drug makers benefit? ‘Use no more than what you need’: How Amazon reached the top of India’s green energy market 3 insights to kick-start your day, featuring subscriptions Zurich Insurance-Kotak Mahindra General Insurance deal Stock Radar: Marico sees profit booking after hitting 52-week high in October; should you buy? 1 2 3 View all Stories |
2024-10-27 | Marketscreener.com | Bank muscat SAOG : Q3 2023 Financial Report | Official Use Bank Muscat SAOG INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS FOR THE NINE MONTHS PERIOD ENDED 30 SEPTEMBER 2023 This Document is classified asOfficial Use Official Use INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS FOR THE NINE MONTHS PERIOD ENDED 30 SEPTEMBER 2023 Contents Page No. 1 Chairman's Report 2 Interim condensed consolidated statement of financial 1 position 3 Interim condensed consolidated statement of comprehensive 2 income 4 Interim condensed consolidated statement of changes in 3 equity 5 Interim condensed consolidated statement of cash flows 4 6 Notes to the interim condensed consolidated financial 5-26 statements This Document is classified asOfficial Use Official Use Page 1 INTERIM CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT 30 SEPTEMBER 2023 Unaudited Audited Unaudited 30-Sep-2023 31-Dec-2022 30-Sep-2022 Notes RO' 000 RO' 000 RO' 000 Assets Cash and balances with Central Banks 807,898 883,060 584,607 Due from banks 3 784,051 641,480 830,882 Loans and advances 4 8,329,406 7,967,470 7,778,622 Islamic financing receivables 4 1,535,948 1,449,424 1,450,503 Investments securities 5 1,821,559 1,571,984 1,782,400 Investment in associates 6 8,818 8,795 8,932 Other assets 7 156,792 185,465 237,749 Property, equipment and software 70,809 68,304 68,804 Total assets 13,515,281 12,775,982 12,742,499 Liabilities and equity Liabilities Deposits from banks 8 1,018,078 1,004,106 928,378 Customers' deposits 9 8,128,269 7,409,967 7,500,625 Islamic customers' deposits 9 1,356,508 1,236,854 1,208,330 Sukuk 46,501 45,876 46,515 Euro medium term notes 192,853 390,376 385,747 Other liabilities 10 415,899 400,973 453,614 Taxation 51,406 55,706 46,886 Total liabilities 11,209,514 10,543,858 10,570,095 Equity Equity attributable to equity holders of parent: Share capital 11 750,640 750,640 375,320 Share premium 156,215 156,215 531,535 General reserve 410,258 410,258 410,258 Legal reserve 139,229 139,229 119,149 Revaluation reserve 4,904 4,904 4,904 Cash flow hedge reserve 9,608 - - Cumulative changes in fair value 28,849 (587) (11,815) Foreign currency translation reserve (3,791) (3,881) (3,495) Impairment reserve / restructured loan reserve 2,136 2,330 2,335 Retained earnings 302,399 267,696 614,213 Total equity attributable to the equity holders 1,800,447 1,726,804 2,042,404 Perpetual Tier I capital 505,320 505,320 130,000 Total equity 2,305,767 2,232,124 2,172,404 Total liabilities and equity 13,515,281 12,775,982 12,742,499 Net assets per share (in RO) 0.240 0.230 0.544 Contingent liabilities and commitments 12 1,626,495 1,630,064 1,693,894 The interim condensed consolidated financial statements were approved by the Board of Directors on 26 October 2023. The attached notes 1 to 28 form part of these interim condensed consolidated financial statements. This Document is classified asOfficial Use Official Use Page 2 INTERIM CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE NINE MONTHS PERIOD ENDED 30 SEPTEMBER 2023 Unaudited Unaudited -for nine months period ended- -for three months period ended- 30-Sep-2023 30-Sep-2022 30-Sep-2023 30-Sep-2022 Notes RO' 000 RO' 000 RO' 000 RO' 000 Interest income 13 416,863 341,350 144,610 118,756 Interest expense 14 (163,371) (114,300) (57,198) (39,903) Net interest income 253,492 227,050 87,412 78,853 Income from Islamic financing / investments 13 73,376 62,756 25,535 21,843 Distribution to depositors 14 (45,893) (34,878) (16,683) (12,020) Net income from Islamic financing 27,483 27,878 8,852 9,823 Net interest income and income from Islamic financing 280,975 254,928 96,264 88,676 Commission and fee income (net) 15 67,446 67,654 22,260 21,307 Other operating income 16 32,781 33,038 11,491 8,348 Operating income 381,202 355,620 130,015 118,331 Operating expenses Other operating expenses (131,564) (126,222) (43,813) (42,600) Depreciation (14,918) (13,629) (5,226) (4,950) (146,482) (139,851) (49,039) (47,550) Share of results from associates 6 377 950 177 240 Net impairment losses on financial assets 17 (46,911) (41,584) (16,806) (13,185) (193,016) (180,485) (65,668) (60,495) Profit before taxation 188,186 175,135 64,347 57,836 Tax expense (29,310) (26,845) (9,792) (8,803) Profit for the period 158,876 148,290 54,555 49,033 Other comprehensive (expense) / income Net other comprehensive (expense) / income to be reclassified to profit or loss in subsequent periods, net of tax: Translation of net investments in foreign operations 90 (997) (117) (430) Change in fair value through other comprehensive income (55) (769) (FVOCI) debt investments (7,847) (2,438) Share of other comprehensive income of associates (58) (57) (39) (97) Change in fair value of cash flow hedge 9,608 - 3,600 - 9,585 (8,901) 2,675 (2,965) Net other comprehensive (expense) / income not to be reclassified to profit or loss in subsequent periods, net of tax: Change in fair value of FVOCI equity investments 29,253 (7,030) 10,805 (1,288) 29,253 (7,030) 10,805 (1,288) Other comprehensive income / (expense) for the period 38,838 (15,931) 13,480 (4,253) Total comprehensive income for the period 197,714 132,359 68,035 44,780 Total comprehensive income for the period attributable to Equity holders of Parent Company 197,714 132,359 68,035 44,780 Profit attributable to Equity holders of Parent Company 158,876 148,290 54,555 49,033 Earnings per share (in RO) - Basic and diluted 18 0.020 0.019 0.007 0.007 Items in other comprehensive income are disclosed net of tax. The attached notes 1 to 28 form part of these interim condensed consolidated financial statements. This Document is classified asOfficial Use Official Use Page 3 INTERIM CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE NINE MONTHS PERIOD ENDED 30 SEPTEMBER 2023 Foreign Impairment (Unaudited) Cash flow Cumulative currency reserve / Perpetual Share Share General Legal Revaluation hedge changes in translation restructured loan Retained Tier I capital premium reserve reserve reserve reserve fair value reserve reserve profits Total Capital Total RO' 000 RO' 000 RO' 000 RO' 000 RO' 000 RO' 000 RO' 000 RO' 000 RO' 000 RO' 000 RO' 000 RO' 000 RO' 000 Balance at 1 January 2023 750,640 156,215 410,258 139,229 4,904 - (587) (3,881) 2,330 267,696 1,726,804 505,320 2,232,124 Profit for the period - - - - - - - - 158,876 158,876 - 158,876 Other comprehensive (expense) income - - - - - 9,608 29,140 90 - - 38,838 - 38,838 Total comprehensive (expense) income - - - - - 9,608 29,140 90 - 158,876 197,714 - 197,714 Transfer within equity upon disposal of FVOCI equity investments - - - - - 296 - - (296) - - - Dividends paid (note 11 ) - - - - - - - - (112,596) (112,596) - (112,596) Transfer from restructured loan reserve to retained earnings - - - - - - - (194) 194 - - - Interest paid on Perpetual Tier 1 Capital (11,475) (11,475) (11,475) Balance as at 30 September 2023 750,640 156,215 410,258 139,229 4,904 9,608 28,849 (3,791) 2,136 302,399 1,800,447 505,320 2,305,767 Impairment Foreign reserve / (Unaudited) Cumulative currency restructure Perpetual Share Share General Legal Revaluation changes in translation d loan Retained Tier I capital premium reserve reserve reserve fair value reserve reserve earnings Total Capital Total RO' 000 RO' 000 RO' 000 RO' 000 RO' 000 RO' 000 RO' 000 RO' 000 RO' 000 RO' 000 RO' 000 RO' 000 Balance at 1 January 2022 357,448 531,535 410,258 119,149 4,904 2,855 (2,498) 2,346 594,847 2,020,844 130,000 2,150,844 Profit for the period - - - - - - - - 148,290 148,290 - 148,290 Other comprehensive (expense) income - - - - - (14,934) (997) - - (15,931) - (15,931) Total comprehensive (expense) income - - - - - (14,934) (997) - 148,290 132,359 - 132,359 Transfer within equity upon disposal of FVOCI equity investments - - - - - 264 - - (264) - - - Dividends paid (note 11 ) - - - - - - - - (107,234) (107,234) - (107,234) Issue of bonus shares (note 11 ) 17,872 - - - - - - - (17,872) - - - Transfer from restructured loan reserve to retained earnings - - - - - - - (11) 11 - - - Interest paid on Perpetual Tier 1 Capital - - - - - - - - (3,565) (3,565) - (3,565) Balance as at 30 September 2022 375,320 531,535 410,258 119,149 4,904 (11,815) (3,495) 2,335 614,213 2,042,404 130,000 2,172,404 Appropriations to legal reserve and sub-ordinated loan reserve are made on an annual basis. The attached notes 1 to 28 form part of these interim condensed consolidated financial statements. This Document is classified asOfficial Use Official Use Page 4 INTERIM CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE NINE MONTHS PERIOD ENDED 30 SEPTEMBER 2023 Unaudited Unaudited 30-Sep-2023 30-Sep-2022 RO' 000 RO' 000 Operating activities Profit for the period before taxation 188,186 175,135 Adjustments for : Depreciation 14,918 13,629 Net impairment losses on financial assets 46,911 41,584 Share of results from associates (377) (950) Profit on sale of Property and equipment (1) - Profit on investments (323) (8,829) Dividend income (6,019) (4,559) Operating profit before working capital changes 243,295 216,010 Due from banks 41,242 26,972 Loans and advances (408,570) 8,319 Islamic financing receivables (95,306) (98,064) Other assets 38,265 (64,275) Deposits from banks 292,920 (262,143) Customers' deposits 718,302 (103,426) Islamic customers' deposits 119,654 37,775 Other liabilities 16,577 62,188 Cash from / (used in) operating activities 966,379 (176,644) Income taxes paid (33,389) (32,501) Net cash from / (used in) operating activities 932,990 (209,145) Investing activities Dividend from an associate 296 227 Dividend income 6,019 4,559 Purchase of investments (46,565) (135,795) Proceeds from sale of investments 67,302 35,237 Net movement in property and equipment (17,422) (8,246) Net cash from / (used in) investing activities 9,630 (104,018) Financing activities Dividends paid (112,596) (107,234) Repayment of Euro medium term notes (192,500) (44,608) Interest on Perpetual Tier I capital (11,475) (3,565) Net cash from / (used in) financing activities (316,571) (155,407) Net change in cash and cash equivalents 626,049 (468,570) Cash and cash equivalents at 1 January 928,934 1,395,450 Cash and cash equivalents at 30 September 1,554,983 926,880 Cash and cash equivalent comprises of the following: Cash and balances with Central Banks 807,392 584,100 Treasury bills 512,773 463,502 Due from banks 478,764 436,500 Deposits from banks (243,946) (557,222) 1,554,983 926,880 The attached notes 1 to 28 form part of these interim condensed consolidated financial statements. This Document is classified asOfficial Use Official Use Page 5 NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS FOR THE NINE MONTHS PERIOD ENDED 30 SEPTEMBER 2023 1. LEGAL STATUS AND PRINCIPAL ACTIVITIES Bank Muscat SAOG (the Bank or the Parent Company) is a joint stock company incorporated in the Sultanate of Oman and is engaged in commercial and investment banking activities through a network of 179 branches (30 September 2022 : 174 branches) within the Sultanate of Oman and one branch each in Riyadh, Kingdom of Saudi Arabia and Kuwait. The Bank has representative offices in Dubai, United Arab Emirates, Singapore and Tehran, Iran. The Bank operates in Oman under a banking license issued by the Central Bank of Oman (CBO) and is covered by its deposit insurance scheme. The Bank has its primary listing on the Muscat Stock Exchange. As at 30 September 2023, the Bank operates in 6 countries (2022: 6 countries) and employed 4,146 employees (30 September 2022: 3,920 employees). During 2013, the Parent Company inaugurated "Meethaq Islamic banking window" ("Meethaq") in the Sultanate of Oman to carry out banking and other financial activities in accordance with Islamic Shari'a rules and regulations. Meethaq operates under an Islamic banking license granted by the CBO on 13 January 2013. Meethaq's Shari'a Supervisory Board is entrusted to ensure Meethaq's adherence to Shari'a rules and principles in its transactions and activities. The principal activities of Meethaq include: accepting customer deposits; providing Shari'a compliant financing based on various Shari'a compliant modes; undertaking Shari'a compliant investment activities permitted under the CBO's Regulated Islamic Banking Services as defined in the licensing framework. Meethaq has 27 branches (September 2022 - 24 branches) in the Sultanate of Oman. 2. BASIS OF PREPARATION AND ACCOUNTING POLICIES 2.1 BASIS OF PREPARATION The unaudited interim condensed consolidated financial statements for the nine months period ended 30 September 2023 of the Bank are prepared in accordance with International Accounting Standard (IAS) 34, 'Interim Financial Reporting', applicable regulations of the Central Bank of Oman (CBO) and the Capital Market Authority (CMA). The unaudited interim condensed financial statements have been prepared on the historical cost basis, modified to include the revaluation of freehold land and buildings and the measurement at fair value of derivative financial instruments, FVOCI investment securities and investment recorded at fair value through profit or loss. The carrying values of recognised assets and liabilities that are designated as hedged items in fair value hedges that would otherwise be carried at amortised cost are adjusted to record changes in the fair values attributable to the risks that are being hedged in effective hedge relationships. The Islamic window operation of the Parent Company; "Meethaq" uses Financial Accounting Standards ("FAS"), issued by Accounting and Auditing Organisation for Islamic Financial Institutions ("AAOIFI"), for preparation and reporting of its financial information. Meethaq's financial information is included in the results of the Bank, after adjusting financial reporting differences, if any, between AAOIFI and IFRS. The functional currency of the Bank is the Rial Omani (RO). These unaudited interim condensed consolidated financial statements of the Bank are prepared in Rial Omani, rounded to the nearest thousands, except as indicated. The unaudited interim condensed consolidated financial statements do not contain all information and disclosures required for full financial statements prepared in accordance with International Financial Reporting Standards and should be read in conjunction with the Bank's annual consolidated financial statements as at 31 December 2022. In addition, results of the Bank for the period ended 30 September 2023 are not necessarily indicative of the results that may be expected for the financial year 2023. This Document is classified asOfficial Use Attachments Disclaimer Bank Muscat SAOGpublished this content on26 October 2023and is solely responsible for the information contained therein. Distributed byPublic, unedited and unaltered, on27 October 2023 14:54:46 UTC. |
2024-10-03 | Al Jazeera English | In final debate, Ecuador’s presidential candidates tackle crime, economy | Left-leaning candidate Luisa González and centrist Daniel Noboa face off ahead of the October 15 run-off election. Quito, Ecuador –The final two Ecuadorian presidential candidates, Luisa González and Daniel Noboa, have faced each other in the last debate before the run-off election on October 15. Sunday night’s debate gave both candidates a platform to address long-simmering issues in the country, like rising rates of violent crime and the struggling economy. But whoever wins the race faces an unconventional — and abbreviated — presidential term. Outgoing President Guillermo Lasso initiated the elections in May, when he became thefirst presidentin Ecuador’s history to invoke a constitutional mechanism known as “two-way death”, which dissolved the national assembly but also cut short his term. The victor in the upcoming election will only serve for the remainder of Lasso’s time in office, until 2025. “In a 17-month government, we need to address the urgencies: lower violence [and] youth unemployment and create new work opportunities,” Noboa said during Sunday’s debate. But the centrist Noboa, 35, and the left-leaning González, 45, differed on what those immediate needs should be and how they could be addressed. The economy was the first issue discussed in the debate, with the candidates offering prospective solutions to issues like low oil profits and high youth unemployment. “Ecuador must turn into a competitive country. Because it’s not,” Noboa said. The scion of a powerful local business family, Noboa has crafted his campaign around the idea of attracting foreign investment and creating new work opportunities. His plan includes incentives to hire more young workers, public investment in the electricity grid to lower energy costs, modernising oil refineries and granting loans with low mortgage rates for new home-buyers. On the other hand, González defended the prominent role of state-backed initiatives in the national economy and pledged to boost social spending. “I will inject [$2.5bn] into the economy, drawing from our international reserves deposited in Switzerland,” she said. In her first 100 days in office, González has pledged to hire 1,000 new doctors to strengthen the public sector and to invest a further $140m in higher education. González won the most votes in the first round of elections on August 16, but with 33.6 percent of the ballots, she failed to receive enough support to avoid a run-off race. She represents the Citizen Revolution Movement, whose members are sometimes known as “correistas”. The left-wing party was founded by former President Rafael Correa, who governed Ecuador from 2007 to 2017 and was later sentenced to eight years in prison on corruption charges, though he has yet to surrender to authorities. He currently lives in Belgium. González, however, has defended Correa, saying he will be a main counsellor to her presidency. The economy remains Ecuador’s Achilles heel. According to the European insurance group Credendo, its public debt is high when compared with its national gross domestic product (GDP). At the end of 2022, debt alone accounted for 57 percent of the GDP. Experts say that the economic instability has contributed to another major issue facing this year’s presidential candidates: crime. Violence hasspiked in recent years, with drug cartels and criminal organisation expanding their grip on Ecuador, a coastal country strategically located between top cocaine-producing regions in Peru and Colombia. Ecuador, once one of the most peaceful countries in Latin America, is now on track to become thethird-most violent countryin the region, behind Honduras and Venezuela. From January to June, Ecuadorian police recorded 4,374 homicides, with approximately 19 people killed daily. In August, that violence spilled over into the presidential race, with theassassinationof presidential candidateFernando Villavicencioat a campaign rally in the capital Quito. Since the assassination, candidates have been wearing bullet-proof vests. González herself revealed she has received death threats. “We will take back the control of our country, prisons, streets and especially our harbours and airports by militarizing them,” she said in the debate, promising to invest $500m to provide the police with new equipment. Noboa likewise used the debate to spotlight his security plan. He proposed to centralise Ecuador’s intelligence capabilities with a new operation centre that would use satellites to track overseas exports and strengthen border control. However, experts say both candidates have drifted away from security as the driving issue behind their campaigns. “They have shifted towards their strong suits: social issues for González and economic ones for Noboa,” Will Freeman, a fellow for Latin America studies at the Council on Foreign Relations (CFR), told Al Jazeera. “Gonzalez has not emphasised the security issue previously, perhaps because the Correa governments also made mistakes that contributed to the increase in insecurity,” Freeman explained. He added that “Noboa’s proposal on security felt sort of random”. Noboa, however, entered the debate with a slight edge over González, with 55.95 percent support among voters, according to the latest poll from the research firm Comunicaliza. Butmany Ecuadorianshave not yet made up their minds about whom to vote for. According to the research company CEDATOS, 37.5 percent of voters have not picked a candidate. Álvaro Marchante, a manager at Comunicaliza, pointed out on social media that debates often play a significant role in shaping voter opinion. Noboa, for instance, started the year performing poorly in the polls. But after taking part in the first debate in August, his prospects soared. According to Comunicaliza, almost half of viewers surveyed declared him the debate winner. “We must remember the strong electoral impact that the electoral debate had on the first round, so it’s important to draw no hurried conclusions,” Marchante posted on the social media platform X before Sunday’s debate. This time, however, González managed to deliver a more cohesive message, according to political analyst Francisco Montahuano. “In terms of security, I regard the narrative of both candidates as insufficient,” he told Al Jazeera. “But when it comes to the economics and public administration, González illustrated her proposals with more consistency, providing numbers and explaining exactly where she will invest the money.” Nevertheless, political analyst Jacobo García believes that both candidates missed opportunities to advance their platforms. “Noboa was not able to take advantage of his narrative about being the new against the old,” García said, referencing Noboa’s attempts to play up his youthfulness. As for González, García said she failed “to demonstrate why she is here today as a leader”. “Many still see her simply as Correa’s puppet,” he told Al Jazeera. He added that the debate is not an end in and of itself: “It’s the conversation that follows that matters. What happens from now on will be crucial.” After the debate on Monday morning, voters were left to digest what they heard from the candidates. Fears about rising crime motivated architect Cynthia Cabascango, 24, to tune in. “Whether you live in Quito, Guayaquil, or Esmeraldas, you can feel the insecurity,” she said. “This is the most important issue they must deal with, so I watched the debate to listen to their proposals.” Street vendor José Cesar Vargas, meanwhile, found himself drawn to González’s proposed social programmes for low-income households. “She will provide poor children with school uniforms and with the opportunity of enrolling into university, this is something that was missed,” the 65-year-old told Al Jazeera. But some also fear a new era of reckless spending, including system engineer Diego González, 26. “González wants to draw from our international reserves, and this has already given us problems in the past,” he said. “As Noboa said, we should regard international reserves only as our last chance.” Follow Al Jazeera English: |
2024-10-27 | Forbes | The Command & Control Of China’s Stock Market, Week In Review | CLN Asian equities ended the week on a positive note as Hong Kong and Mainland China outperformed while the Philippines and Singapore underperformed. Overnight, Hong Kong-listed internet names outperformed their US-listed counterparts yesterday, which is leading to gains in US trading this morning. US-China diplomatic green shoots continue to surface. Foreign Minister Wang Yi met with Secretary of State Anthony Blinken yesterday and he is expected to meet with President Biden today. Meanwhile, expectations for a Biden-Xi summit at the Asia Pacific Economic Cooperation (APEC) Conference have risen. The Associated Press was one of the few media outlets to publish Wang’s comment that the US and China should “push the relationship as soon as possible back to the track of healthy, stable, and sustainable development.” September industrial profits rose +11.9% year-over-year (YoY) versus August’s +17.2% as the year-to-date decline decreased from August’s -11.7% to -9%. This is yet another sign of China’s economy stabilizing and improving slowly. There was a fair amount of chatter on a fourth-quarter bank reserve requirement ratio (RRR) cut with a government economic meeting scheduled for next week. There was also more buyback talk. Several companies announced buybacks, including China’s most heavily traded stocks by value such as battery giant CATL, which gained +3.73% on the announcement of a RMB 2 billion to RMB 3 billion stock buyback, which will be used for “stock incentive plans for employees,” according to Bloomberg. Also, Livzon Pharmaceutical announced a buyback of RMB 400 million to 600 million and Joincare Pharmaceutical, which announced that it had bought back 48 million shares, representing 2.54% of shares outstanding. Meanwhile, HSBC
HBA
, AIA, and Standard Chartered all bought back stock overnight. If you believe that China is a command-and-control economy, it is not hard to see that the government is trying to gain control on the stock market’s slide, while commanding companies and investors to buy stock. Foreign investors were net buyers of mainland stocks via Northbound Stock Connect for the second day in a row to the tune of $627 million. Healthcare, which is a growth sector rather than a defensive one in China, was the top-performing sector as several companies reported strong quarterly results. Biotech firm CSPC Pharmaceuticals (1093 HK) gained +10.82% on a cancer drug trial approval. Fundamentals are driving stock prices, at least in health care. Hong Kong-listed internet stocks had a strong day as Hong Kong’s most heavily traded stock Tencent gained +1.81%, Alibaba gained +3.32%, and Meituan gained +2.92%. Remember that we are two weeks away from Singles Day, as early data appears strong. The US does not have a trade deficit with China based on how the Chinese government defines trade. If you add the revenue from US companies in China to the traditional definition of trade, which includes only goods put on a ship, there is no deficit. The Hang Seng and Hang Seng Tech indexes gained +2.08% and +2.52%, respectively, on volume that increased +13.21% from yesterday, which is 81% of the 1-year average. 430 stocks advanced while 64 stocks declined. Main Board short sale turnover declined -5.34% from yesterday, which is 74% of the 1-year average, as 15% of turnover was short turnover (remember Hong Kong short turnover includes ETF short volume, which is driven by market makers’ ETF hedging). The growth factor outperformed the value factor while small caps outpaced large caps. All sectors were positive as healthcare gained +6.72%, real estate gained +3.2%, and consumer staples gained +3.07%. All subsectors were positive as pharmaceuticals, semiconductors, and healthcare equipment led. Southbound Stock Connect volumes were moderate as Mainland investors bought $308 million worth of Hong Kong-listed stocks and ETFs with Tencent, Li Ning, and Semiconductor Manufacturing (SMIC) were small net buys. Shanghai, Shenzhen, and the STAR Board gained +0.99%, +1.82%, and +1.48%, respectively, on volume that increased +14.44% from yesterday, which is 110% of the 1-year average. 3,874 stocks gained while 1,017 declined. The growth factor outperformed the value factor while small caps outpaced large caps. The top-performing sectors were healthcare, which gained +3.97%, industrials, which gained +2.01%, and communication services, which gained +1.95%. Meanwhile, financials and energy were off -0.07% and -0.19%, respectively. The top-performing subsectors were biotech, chemical, and pharmaceuticals. Meanwhile, insurance, coal, and precious metals were among the worst-performing. Northbound Stock Connect volumes were moderate as foreign investors bought a net $627 million worth of Mainland stocks, including Tianqi Lithium, which was a large net buy, BYD and CTG Duty Free, which were small net buys. Meanwhile, Shanxi Fine Wine was a moderate net sell along with pharmaceutical company HR, Mindray, and ZTE, which were all small net sells. Upcoming Webinar Join us Wednesday, November 1st, at 7:30 pm EDT for our live webcast: Decoding China's Real Estate Sector with Nikko AM & Deep Dive On Chinese Asset Class Opportunities Please click here to register. Join us Thursday, November 2nd, at 2:00 pm GMT for our live webcast: China Q3 Review: Lines in the Sand & Policy Support Please click here to register. chart 1 chart 2 chart 3 chart 4 chart 5 |
2024-11-02 | Business Insider | America's cities are vying for a hot new title: best place to ride out the coming dystopia | American cities are constantly in competition — for people, professional sports teams, headline-grabbing events, and company headquarters. For decades, cities have duked it out for titles like "best city for business" or "healthiest city in America," but now they're starting to compete for a new title: best place to ride out dystopia. Every American city has its charms and its flaws. Some boast of great barbecue, while others tout their proximity to sandy beaches. The country's vast size gives American families and businesses a large menu of climates, real-estate markets, andamenities from which to choose. It also forces elected officials to employ a variety of tactics such ascash incentives, infrastructure investments, and tax breaks to win over prospective transplants and fortify their economies. Whether it's Los Angeles scoring the 2028 Olympics, or Austin persuading Tesla to move its headquarters to the city, splashy announcements generate buzz about the winning cities and allow them to sell people on the upside of moving to the area. On the flip side, cities that lose people and jobs are at risk of entering the "urban doom loop" — a downward spiral ofdeclining economic vitality, falling tax revenue, and a drop in local public services. Over the past 50 years, the winners of this intercity battle have been the booming metros in theSun Belt. Millions of people have migrated to the US South and West seeking out the sun and cheaper homes. Business has followed: Theheadquarters of Fortune 500 companieshave rapidly shifted away from industrial cities in the Midwest and Northeast toward cities like Dallas, Houston, and Atlanta. However, in recent years these onetime winners have started to grapple with a new set of challenges caused by the changing climate:120-degree days in the summer, encroaching flood waters, and the ever present threat of wildfires. The idyllic destinations for Americans seeking a better life are starting to look like precarious long-term bets. While Sun Belt cities are working to mitigate these challenges, the increased risks also create an opportunity for once forgotten cities. Places that previously were in decline such as Buffalo, New York, and Detroit are rolling out a new type of marketing campaign to make the case that they can offer a desirable mix of stable weather, cheap housing, and robust public investment. These "climate oases" and "climate havens" have been trying to attract newly footloose Americans, freed from the office by the rise of working from home, and lure risk-averse people who are deeply concerned about rising climate risk. While many Americans are still moving into areas facing arising tide of disasters, the country's increasing climate risks have sparked a countermovement of people looking for a safe haven from storms and droughts. A report from the real-estate-data provider CoreLogic found that14.5 million homes in the USwere affected by natural disasters in 2021, and according to the National Oceanic and Atmospheric Administration, the number of disasters causing more than $1 billion in damage has been increasing over the past 10 years. The frequency of these costly catastrophes is making many Americans rethink their living arrangements: 23% of people surveyed ina recent USA Today pollsaid they thought they would eventually be forced to move because of the climate crisis. For Americans living in areas more prone to disasters, the numbers were even higher — 30% of people in the West said they anticipated needing to move eventually. Most of the current climate migration is happening in outlying areas faced with recurring natural disasters. Longtime residents of theFlorida Keys, which have been battered by fierce hurricanes and rising sea levels, are starting to leave their homes. And many residents of rural California are finding it increasingly difficult to purchasehome insurancein fire-prone areas, prompting some to move. But as weather extremes become more pronounced, major metro areas could start to feel some strain. A 2016 study published in the Journal of the Association of Environmental and Resource Economists,found that"Americans favor a daily average temperature of 65 degrees Fahrenheit" and would generally pay more to avoid excessive heat rather than cold. So as average temperatures start to drift higher around the country, some of the more populated areas in theSouth and West could begin to lose outas people seekrelief from the heat. This opens the door for once beleaguered locales in the Midwest and industrial Northeast to reenter the ring. For decades, cities such as Detroit, Baltimore, and Cincinnati have been on a downward spiral as they lose people and businesses to the sunnier parts of the country. But now the tides are starting to turn in their favor: These cities generally have easy access to plenty of clean water, cooler climates, and less exposure to the coastal hurricanes, forest fires, and flooding that are more frequent in the Sun Belt. Add in relatively cheap homes and a willingness to invest in the types of infrastructure necessary to adapt to our changing planet, and the formerly forgotten parts of the country are starting to look attractive. Take Buffalo. The city's population has since 1970 been on a long, steady decline as its thriving industrial sector was hollowed out. Now, the city's leaders have sensed an opportunity to revitalize the region. Buffalo's natural characteristics provide a good starting point — its high temperature in July of 79 degrees is much cooler than in Phoenix, for instance. And according to data from the Federal Emergency Management Agency, the city has been hit by only 27 federally declared disasters since 1953. Compare that with the 80 disasters that have hit Los Angeles County and the 41 disasters in Miami-Dade County. Then there's its abundant freshwater from Lake Erie, relatively cheap housing market — Zillowshows that the median home pricein the city was $215,000 as of October — and robust infrastructure from the city's previous life as a manufacturing center. With all that in mind, Buffalo has a chance to stage a serious comeback. Buffalo's leaders have decided to capitalize on these advantages by explicitly painting the city as a safe spot to ride out the county's coming climate upheaval. In a 2019 speech, Mayor Byron Brown said the city would be a "climate refuge" for Americans seeking a more stable place to lay down roots and promised to make investments in the city's resiliency. The declaration has been followed up with investments in key areas — climate resilience was one of the four pillars that made up the city's four-year strategic plan released at the start of 2023. As part of the plan, Buffalo's government said it planned to invest in a more resilient localelectricity grid, convert city vehicles and buildings to renewable energy, and invest in emissions-reducing infrastructure such as electric-vehicle charging stations and improved bike lanes. Beyond direct investment, the city also committed to working with private businesses to reduce their climate impact, including financing that allows companies to make energy-efficient upgrades to their facilities on the cheap. While there are many questions about the rollout of the plans, the vocal commitment of Buffalo to make the changes needed to make the city more climate-resilient will likely act as a clarion call for many Americans. Each year, roughly 8 million Americans move to a different state. If 1% of these movers chose Buffalo, this would be an inflow of 80,000 people to a city home to 275,000 people — a massive increase. And Buffalo isn't the only city in the country's industrial belt trying to win over new residents with this sales pitch: Places includingDuluth, Minnesota;Grand Rapids, Michigan; and evenChicagoare also making a bid for free-moving and climate-concerned workers. Climate competition is still just one aspect of the battle between cities. Other factors, such as schools, crime, and job availability, are also crucial to developing the image as an up-and-coming place to move. Many of the cities that are trying to offer themselves to "climate refugees" have struggled with one or more of these elements in the recent past — but there is hope here. Households and individuals are able to make an informed decision about where to live based on a wealth of data, on things including home prices, graduation rates for public schools, and job openings. For concerns such as crime, theFBI has a tool on its websiteto allow people to compare data for different cities and states across the country. As we start to learn more about the emerging climate risks to various parts of the country, the US government can play a similar role in providing city-level data including recent temperature by month, air pollution, natural-disaster damage, and rainfall. The real-estate firmRedfinhas partnered with the nonprofit First Street Foundation to provide property-level report cards on fire, flood, and heat risk to people searching for housing. My ongoing research highlights that homebuyers in both red states and blue states have begun to make decisions based on this information, weighing it as a factor in where they choose to move. As extreme weather events occur, people looking for a new home will be able to evaluate how many people died or lost their homes in any given city because of the climate crisis. The most climate-resilient cities will become the clear winners. And if cities such as Buffalo and Detroit invested in infrastructure — from new roads and renewable-power plants to entertainment districts and improved schools — to support movers, this would act as a self-reinforcing economic cycle that could enhance their natural weather advantages. As the population grows, new restaurants and cultural opportunities will pop up. Home prices will grow, creating local wealth and economic development. And the spending on activities and housing will boost local tax revenues and provide cities a chance to reinvest in core services — the opposite of the "doom loop." But public-sector investment alone won't go very far without the innovation of the private sector. Northern and Midwestern states will need a strong private-sector presence to meet the ever evolving demands that the climate crisis and a wave of new residents will bring. Here, too, there are hopeful examples. In the recent past, the city of Pittsburgh suffered a sharp decline when its "golden goose" of steel production declined. In recent decades,the city has made a dramatic comebackas a "brains economy" featuring robotics firms working with researchers at nearby universities and the rise of the health-innovation economy. After decades of decline, census estimates show that the Pittsburgh area's population finally leveled off from 2010 to 2022 and suggest that the number of people living in the citycould bounce back in the coming years. Pittsburgh's rebound offers an optimistic case study for other Rust Belt cities. The shifting climate does not mean that there will be a sudden migration of Americans to the middle of the country. Many people still stick close to home: A 2015 report from The New York Times found that the averageAmerican lived only 18 miles from their mother. And the cities that could become climate havens have their weather downsides — Buffalo will still have some harsh winters, too. But even in small numbers, regional migration will have serious downstream effects on America's cities. If Buffalo, Detroit, Pittsburgh, and other cities succeed in their climate-resilience agendas, they will grow, attracting residents from more at-risk areas of the country. That, in turn, will force at-risk cities such as Los Angeles, Miami, and Phoenix to invest more to offset their heat and flood risk. Even on a city level, competition fosters innovation — and the great "Super Bowl" of climate competition will spur our collective adaptation. Matthew E. Kahn is the Provost Professor of Economics at the University of Southern California and a Visiting Fellow at the Hoover Institution. He is the author of the 2010 book "Climatopolis: How Our Cities Will Thrive in the Hotter Future" and the 2021 book "Adapting to Climate Change." |
2024-11-02 | The Times of India | Real estate will have a good time for next four-five years: Sudip Bandyopadhyay | ETMarkets.com Sudip Bandyopadhyay , Group Chairman, Inditrade Capital , says “for some time, we have been positive on real estate and we continue to maintain our positive view. Tokyo City’s total commercial space is much higher than the entire India put together. So, in India, where GDP is growing at 8% or thereabouts, the commercial space demand will move up significantly in the coming years. We have already seen real estate demand coming in a big way as far as both affordable as well as high-end, particularly the high-end.” Let us begin by discussing the auto sector itself. We were talking about the report card that we have seen for the month of October and I guess November is just going to be better because it is going to be Diwali and the festivity is going to continue. Yes, absolutely right. A couple of things: one is, we had the shradh period in October, so obviously the numbers to an extent would have been definitely sacrificed. We expect those volumes to come back in November. Yes, of course, there is Diwali, there is Dhanteras, there is Bhai Dooj and Bhau Beej and other festivities, so obviously, the numbers are expected to be good. One factor I want to point out, pretty much all the components of the auto sector did well except tractors. There was pressure on the tractor sales both for M&M as well as Escorts Kubota , so we will expect the tractor sales also to pick up on the back of rural income coming back and the harvest season coming, as well as a lot of money getting into the hands of rural consumers should enable the tractor sales also to pick up in the near future. So, November should be a better month and definitely the overall auto numbers for November including tractors should be better. Unlock Leadership Excellence with a Range of CXO Courses Offering College Course Website Indian School of Business ISB Chief Digital Officer Visit IIM Lucknow IIML Chief Operations Officer Programme Visit Indian School of Business ISB Chief Technology Officer Visit What is leading to this excitement on Vodafone? There are reports that they are looking to exit Spain with that $5.3 billion sale to Zegona but the stock is now at a 52-week high. Is it worth a look? Obviously, in the Delhi meeting where the prime minister was also there, I understand Mr Kumar Mangalam Birla mentioned about capital infusion and a lot of investments to be made by Vodafone. Obviously, this can only be made provided the promoters bring in capital. So, one problem which was plaguing Vodafone was promoters not committing capital. Now, if that happens, either through Vodafone or through Birlas, the company can swing back into their winning trajectory very soon. They have the numbers, they have the customers, they have the systems, processes pretty much; what they were lacking was investment in the business for some time and that is pretty long in this telecom business where things move very fast. Also, they have lagged behind as far as 5G investments are concerned. They have been losing customers every month and quarter on quarter. Now, these operational things need to be tightened, capital needs to come in and things should start improving. But I think the starting point is capital coming in and the excitement around that is on account of promoters making the right noises from both the sides. You Might Also Like: Don’t worry why L&T is available at attractive valuations; it is a good entry point: Dipan Mehta What about the real estate pack and within that, where does your preference lie? There are the NCR players, there are Mumbai players, South India and then, of course, there are commercial players as well like Phoenix Limited. Overall, on real estate, we have been positive for some time and we continue to maintain our positive view. Tokyo City’s total commercial space is much higher than the entire India put together. So, in India where GDP is growing at 8% or thereabouts, the commercial space demand will move up significantly in the coming years. We have already seen real estate demand coming in a big way as far as both affordable as well as high-end, particularly the high-end. Our belief is that real estate for the next four-five years will have a good time. There were a lot of question marks around the real estate sector, the practices. All those are mostly things of the past. Most of the players have cleaned up their balance sheet. The GST implementation has happened. RERA has come in. Accounting standards have kind of been tightened. So, overall, it is a very safe place for the investors now to invest considering the growth momentum of the sector and that is why we are seeing money coming into the real estate sector. We believe that both residential as well as commercial should gain over the next few years. Phoenix definitely, Macrotech, Oberoi Realty , Godrej Properties all these can be looked at. We can look at the NCR and DLF and for a long-term investor, even at current level, DLF looks good. One can look at Sobha and Prestige. There is absolutely no problem, just that one has to remember that because the prices have run up quite a bit if you are in for one year plus time horizon these are good investments to look at. You Might Also Like: Banks, IT weakest links; Nifty may fall further after a bounce: Rohit Srivastavaa Connect with Experts - Wealth creation made easy Experience Your Economic Times Newspaper, The Digital Way! Saturday, 04 Nov, 2023 Read Complete ePaper » Digital View Print View Wealth Edition Apple Rings Louder: Sept Qtr Sees Record Revenue in India Apple Inc set a new quarterly revenue record in India with a strong double-digit year-on-year growth in the September quarter, chief executive Tim Cook said on Friday, adding that the world’s second-largest smartphone market is a key focus for the Cupertino, US-based company where it currently has a low share. Young & Restless Driving Change at Motown’s Luxe St Luxury car buyers in India are getting younger with two out of five Audi buyers aged less than 40. At Mercedes-Benz India, buyers have an average age of 38 years, the youngest for the German luxury carmaker globally. The scenario is similar at BMW India where consumers aged 35-40 contribute bulk of the sales. Sony Wants Own Exec as Head of Merged Co Instead of Zee’s Goenka Zee Entertainment Enterprises Ltd (ZEEL) chief Punit Goenka’s position as MD and CEO of the proposed Sony-Zee merged entity is on shaky ground as he continues to be under investigation by the Securities and Exchange Board of India (Sebi) for the alleged diversion of funds from ZEEL to promoter entities, people aware of the development told ET. Read More News on real estate dlf sudip bandyopadhyay commercial space demand GDP growth auto sector inditrade capital godrej properties expert view Stock Market (What's moving Sensex and Nifty Track latest market news , stock tips and expert advice on ETMarkets . Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Download The Economic Times News App to get Daily Market Updates & Live Business News. 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2024-11-02 | ETF Daily News | Anywhere Real Estate (NYSE:HOUS) Reaches New 52-Week Low at $4.09 | Anywhere Real Estate Inc. (NYSE:HOUS–Get Free Report)’s stock price hit a new 52-week low during trading on Tuesday . The company traded as low as $4.09 and last traded at $4.66, with a volume of 2231182 shares. The stock had previously closed at $4.80. HOUS has been the subject of a number of research analyst reports. BTIG Research began coverage on shares of Anywhere Real Estate in a report on Monday, July 17th. They set a “neutral” rating for the company. Stephens lowered their price target on Anywhere Real Estate from $9.50 to $5.50 and set an “equal weight” rating on the stock in a research report on Wednesday, October 25th. Finally, Barclays cut their price objective on Anywhere Real Estate from $5.00 to $4.50 and set an “underweight” rating for the company in a report on Thursday, October 12th. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. Based on data from MarketBeat, Anywhere Real Estate presently has a consensus rating of “Hold” and a consensus target price of $6.00. Read Our Latest Stock Analysis on Anywhere Real Estate Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverThe firm’s 50 day simple moving average is $6.12 and its two-hundred day simple moving average is $6.44. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.50 and a quick ratio of 0.58. A number of hedge funds and other institutional investors have recently modified their holdings of HOUS. Quadrant Capital Group LLC increased its stake in Anywhere Real Estate by 80.4% in the 2nd quarter. Quadrant Capital Group LLC now owns 3,995 shares of the company’s stock worth $27,000 after purchasing an additional 1,781 shares during the period. Tower Research Capital LLC TRC increased its stake in shares of Anywhere Real Estate by 47.1% in the second quarter. Tower Research Capital LLC TRC now owns 4,561 shares of the company’s stock worth $30,000 after buying an additional 1,460 shares during the period. Metropolitan Life Insurance Co NY bought a new stake in Anywhere Real Estate during the 4th quarter valued at $44,000. State of Wyoming purchased a new stake in Anywhere Real Estate during the 4th quarter valued at $46,000. Finally, Allspring Global Investments Holdings LLC boosted its position in Anywhere Real Estate by 62.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 11,431 shares of the company’s stock valued at $60,000 after buying an additional 4,384 shares during the period. Institutional investors own 97.56% of the company’s stock. (Get Free Report) Anywhere Real Estate Inc, through its subsidiaries, provides residential real estate services in the United States and internationally. The company operates through three segments: Anywhere Brands, Anywhere Advisors, and Anywhere Integrated Services. The Anywhere Brands segment franchises the Better Homes and Gardens Real Estate, Century 21, Coldwell Banker, Coldwell Banker Commercial, Corcoran, ERA, and Sotheby's International Realty brand names. |
2024-11-02 | CNA | Eric Trump, Donald Trump Jr say they were not aware of fraud at NY trial | NEW YORK: Eric Trump and Donald Trump Jr both testified on Thursday (Nov 2) that they had no involvement with documents that ajudge has ruled were fraudulently manipulated to inflate the value of trophy propertiesand other assets owned by their father Donald Trump. In back-to-back appearances in a New York courtroom, Trump's adult sons both said they were not involved in the questionable valuations that now threaten to hobble the real estate empire that vaulted Trump to prominence. Trump put the two in charge of the business while he served as president from 2017 to 2021. Donald Jr blamed accountants, both inside and outside the company, who assembled the financial statements that were used to secure loans and insurance that allowed the company to keep functioning. "They had more information and details on all of this than I would have," he said on the witness stand. Eric said he was not even aware that such documents existed. "I didn't know anything about it, until this case came to fruition," he testified. Eric Trump’s assertion was undercut by emails showing that he was sent underlying data used to compile his father’s annual financial statements and was asked to weigh in. Neither son vouched for the accuracy of the documents in question. Judge Arthur Engoron has already ruled that Trump, his two adult sons and the company fraudulently inflated asset values to win favourable financing terms. Trump's former lawyer and fixer Michael Cohen has testified that Trump directed them to exaggerate the value of assets like Trump Tower in order to win better financing terms and bolster his reported net worth. |
2024-11-02 | The Times of India | US stocks open higher on bets of end to Fed's rate hikes | iStock Wall Street's main stock indexes rallied on Thursday on hopes that the U.S. Federal Reserve had reached the end of its tightening campaign, while a raft of upbeat corporate updates added to the bullish mood. The Fed held interest rates steady on Wednesday as expected, and while Chair Jerome Powell left the door open to further tightening he also acknowledged the impact of a recent surge in bond yields on the economy. The comments, which were perceived to be dovish, sent U.S. Treasury yields tumbling, with the benchmark 10-year yield hitting near three-week lows. "Our base case is that the Fed is done, but that they will take time to cut rates," said Raphael Olszyna-Marzys, international economist at J Safra Sarasin. "There's a decent possibility that they will have to do more (hikes), but this is not how the market is seeing it for the moment." All three major stock indexes touched their highest level since Oct. 19. Mega-cap growth stocks including Microsoft, Nvidia, Alphabet and Tesla rose between 0.2% and 3.9%. All 11 major S&P 500 sectors were trading higher, with real estate and consumer discretionary leading gains. Traders pared back the risk of a December hike to about 20% and a January move to 25%, according to the CME Group's FedWatch tool. They have also priced in a 70% chance that the tightening is over. On the earnings front, Qualcomm climbed 5.9% after the chip designer forecast first-quarter sales and profit above Wall Street estimates as a slowdown in smartphone sales eases. PayPal advanced 3.9% as the payments giant raised its full-year adjusted profit forecast. Starbucks jumped 9.4% after fourth-quarter results beat estimates, while data analytics firm Palantir Technologies rose 18.8% on forecasting quarterly revenue above estimates. Moderna dropped 10.5% after lowering its 2023 COVID-19 vaccine sales forecast. Drugmaker Eli Lilly jumped 6.6% after beating quarterly sales estimates. Apple's shares advanced 1.2% ahead of its quarterly numbers due after markets close on Thursday. At 9:38 a.m. ET, the Dow Jones Industrial Average was up 307.02 points, or 0.92%, at 33,581.60, the S&P 500 was up 51.87 points, or 1.22%, at 4,289.73, and the Nasdaq Composite was up 172.71 points, or 1.32%, at 13,234.18. The Cboe Volatility index, also known as Wall Street's fear gauge, touched a three-week low. U.S. equities have kicked off November on a brighter note following a bruising October marred by fears of higher-for-longer interest rates and geopolitical tensions. Meanwhile, data showed the number of Americans filing new claims for unemployment benefits increased moderately last week as the labor market continues to show few signs of a significant slowdown. The main data point of the week will be the October non-farm payrolls report on Friday, which will offer more clarity on the state of the labor market. Advancing issues outnumbered decliners by a 8.67-to-1 ratio on the NYSE and by a 4.50-to-1 ratio on the Nasdaq. The S&P index recorded five new 52-week highs and six new lows, while the Nasdaq recorded 19 new highs and 47 new lows. Connect with Experts - Wealth creation made easy Experience Your Economic Times Newspaper, The Digital Way! Saturday, 04 Nov, 2023 Read Complete ePaper » Digital View Print View Wealth Edition Apple Rings Louder: Sept Qtr Sees Record Revenue in India Apple Inc set a new quarterly revenue record in India with a strong double-digit year-on-year growth in the September quarter, chief executive Tim Cook said on Friday, adding that the world’s second-largest smartphone market is a key focus for the Cupertino, US-based company where it currently has a low share. Young & Restless Driving Change at Motown’s Luxe St Luxury car buyers in India are getting younger with two out of five Audi buyers aged less than 40. At Mercedes-Benz India, buyers have an average age of 38 years, the youngest for the German luxury carmaker globally. The scenario is similar at BMW India where consumers aged 35-40 contribute bulk of the sales. Sony Wants Own Exec as Head of Merged Co Instead of Zee’s Goenka Zee Entertainment Enterprises Ltd (ZEEL) chief Punit Goenka’s position as MD and CEO of the proposed Sony-Zee merged entity is on shaky ground as he continues to be under investigation by the Securities and Exchange Board of India (Sebi) for the alleged diversion of funds from ZEEL to promoter entities, people aware of the development told ET. Read More News on wall street today dow jones s&p500 nasdaq wall street watch us stocks (What's moving Sensex and Nifty Track latest market news , stock tips and expert advice on ETMarkets . Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Download The Economic Times News App to get Daily Market Updates & Live Business News. Top Trending Stocks: Sensex Today Live , SBI Share Price , Axis Bank Share Price , HDFC Bank Share Price , Infosys Share Price , Wipro Share Price , NTPC Share Price ... more less Pick the best stocks for yourself
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2024-11-02 | The Times of India | DLF shares up 0.43% as Nifty gains | Agencies India 10-year bond yield rose 0.37 per cent to 6 after trading in 5.99-6.01 range. Shares of DLF Ltd. rose 0.43 per cent to Rs 576.9 in Thursday's trade. It hit an intraday high of Rs 582.4 and low of Rs 570.3, respectively, during the day. The stock quoted a 52-week high price of Rs 586.65 and low of Rs 336.55. As of 01:54PM (IST), the counter saw total traded volume of 88,593 shares with a traded value of Rs 5.09 crore, according to NSE . The stock had closed at Rs 574.4 in the previous session. The scrip has advanced 8.67 per cent in the past one month till date, while the benchmark BSE Sensex has slipped -2.74 per cent during the same period. According to exchange data, the stock traded at a price-to-earnings (P/E) multiple of 63.79 while price-to-book ratio stood at 2.34. A higher P/E ratio shows that investors are willing to pay a higher price for per rupee earnings given by the stock because of better future growth expectations. The price-to-book value indicates the inherent value of a company and it reflects the price investors are ready to pay even for no growth in a business. The stock belongs to the Real Estate industry. Promoter/FII Holding Promoters held 74.08 per cent stake in the company as of 30-Sep-2023, while FII and MF ownership in the firm stood at 15.89 per cent and 3.92 per cent, respectively. Key Financials The company reported consolidated sales of Rs 1476.42 crore for the quarter ended 30-Sep-2023, down 2.98 per cent from the previous quarter's Rs 1521.71 crore and down 8.52 per cent from the year-ago quarter's Rs 1360.5 crore. Its net profit for the latest quarter stood at Rs 622.78 crore, up 30.55 per cent from the same quarter a year ago. Connect with Experts - Wealth creation made easy Print Edition Friday, 03 Nov, 2023 Experience Your Economic Times Newspaper, The Digital Way! Read Complete Print Edition » Front Page Pure Politics Companies Economy & Companies Learn more about our print edition More WhatsAppening? Telcos Call Out Tech Cos over Biz SMSes An industry grouping representing India’s top three telcos has accused global consumer-technology majors, such as Microsoft and Amazon, of “presumably circumventing and bypassing the legal telecom route” by using WhatsApp and other unregulated platforms to send enterprise messages to customers, causing a likely ₹3,000-crore annual revenue loss to both the Centre and the service providers. Apple asked to Join CERT-In Probe into iPhone Hacking Bid The government has asked Apple to join a probe into the alleged state-sponsored hacking attempts on iPhones belonging to prominent Indians, including some members of the opposition in Parliament, according to S Krishnan, secretary, ministry of electronics and information technology. Go First Lessors Can Take Back Planes, Engines: DGCA to HC The Directorate General of Civil Aviation (DGCA) told the Delhi High Court Thursday that Go First’s leased aircraft and engines can be preregistered and returned to lessors, severely denting the bankrupt airline’s revival prospects. Read More News on dlf dlf ltd dlf ltd. DLF Share Price dlf dlf ltd dlf ltd. DLF BSE NSE (What's moving Sensex and Nifty Track latest market news , stock tips and expert advice on ETMarkets . Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Download The Economic Times News App to get Daily Market Updates & Live Business News. Top Trending Stocks: Sensex Today Live , SBI Share Price , Axis Bank Share Price , HDFC Bank Share Price , Infosys Share Price , Wipro Share Price , NTPC Share Price ... more less Pick the best stocks for yourself
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2024-11-02 | Marketscreener.com | Opendoor Announces Third Quarter of 2023 Financial Results | SAN FRANCISCO, Nov. 02, 2023 (GLOBE NEWSWIRE) -- Opendoor Technologies Inc. (Nasdaq: OPEN), a leading e-commerce platform for residential real estate transactions, today reported financial results for its quarter ended September 30, 2023. Opendoor’s third quarter of 2023 financial results and management commentary can be accessed through the Company’s shareholder letter on the “Quarterly Reports” page of Opendoor’s investor relations website athttps://investor.opendoor.com. “Our third quarter results were in-line or ahead of our prior guidance driven by our continued focus on delivering operational excellence through pricing improvements, cost savings, and risk management. The third quarter also marked our return to positive contribution margin. These results demonstrate our continued strong execution and market share gains in what remains an uncertain U.S. housing market. With an improved cost structure, strong balance sheet, and scaled customer acquisition channels, we believe we have laid the foundation to emerge from this cycle more resilient and well-positioned for continued share gains and long-term profitability,” said Carrie Wheeler, CEO of Opendoor. Wheeler continued, “As the market leading platform that is leveraging technology to transform and simplify the way people buy and sell their home, we have a significant opportunity ahead of us and remain steadfast in our mission to power life’s progress, one move at a time.” Third Quarter 2023 Key Highlights 2023 Financial Outlook Conference Call and Webcast Details Opendoor will host a conference call to discuss its financial results on November 2, 2023, at 2:00 p.m. Pacific Time. A live webcast of the call can be accessed from Opendoor’s Investor Relations website athttps://investor.opendoor.com. An archived version of the webcast will be available from the same website after the call. About Opendoor Opendoor’s mission is to power life’s progress, one move at a time. Since 2014, Opendoor has provided people across the U.S. with a simple way to buy and sell a home. Opendoor currently operates in a growing number of markets nationwide. For more information, please visitwww.opendoor.com Forward Looking Statements This press release contains certain forward-looking statements within the meaning of Section 27A the Private Securities Litigation Reform Act of 1995, as amended. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking, including statements regarding the health of our financial condition; anticipated future results of operations and financial performance; priorities of the Company to achieve future goals; the Company’s ability to continue to effectively navigate the markets in which it operates; anticipated future and ongoing impacts of our acquisitions and other business decisions; health of our balance sheet to weather ongoing market transitions; the Company’s ability to adopt an effective approach to manage economic and industry risk, as well as inventory health; business strategy and plans, including any plans to expand into additional markets, market opportunity and expansion and objectives of management for future operations, including our statements regarding the benefits and timing of the roll out of new markets, products or technology; and the expected diversification of funding sources. These forward-looking statements generally are identified by the words “anticipate”, “believe”, “contemplate”, “continue”, “could”, “estimate”, “expect”, “forecast”, “future”, “guidance”, “intend”, “may”, “might”, “opportunity”, “outlook”, “plan”, “possible”, “potential”, “predict”, “project”, “should”, “strategy”, “strive”, “target”, “vision”, “will”, or “would”, any negative of these words or other similar terms or expressions. The absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties that can cause actual results to differ materially from those in such forward-looking statements. The factors that could cause or contribute to actual future events to differ materially from the forward-looking statements in this press release include but are not limited to: the current and future health and stability of the economy, financial conditions and residential housing market, including any extended downturn or slowdown; changes in general economic and financial conditions (including federal monetary policy, interest rates, inflation, actual or anticipated recession, home price fluctuations, and housing inventory) that may reduce demand for our products and services, lower our profitability or reduce our access to future financings; actual or anticipated fluctuations in our financial condition and results of operations; changes in projected operational and financial results; investment of resources to pursue strategies and develop new products and services that may not prove effective or that are not attractive to customers and/or partners or that do not allow us to compete successfully; any future impact of the ongoing COVID-19 pandemic (including future variants) or other public health crises on our ability to operate, demand for our products or services, or general economic conditions; addition or loss of a significant number of customers; acquisitions, strategic partnerships, joint ventures, capital-raising activities or other corporate transactions or commitments by us or our competitors; actual or anticipated changes in technology, products, markets or services by us or our competitors; ability to protect our brand and intellectual property; ability to obtain or maintain licenses and permits to support our current and future business operations; ability to operate and grow our core business products, including the ability to obtain sufficient financing and resell purchased homes; our ability to grow market share in our existing markets or any new markets we may enter; our ability to manage our growth effectively; our ability to access sources of capital, including debt financing and securitization funding to finance our real estate inventories and other sources of capital to finance operations and growth; our ability to maintain and enhance our products and brand, and to attract customers; our ability to manage, develop and refine our technology platform, including our automated pricing and valuation technology; our success in retaining or recruiting, or changes required in, our officers, key employees and/or directors; the impact of the regulatory environment within our industry and complexities with compliance related to such environment; the impact of natural disasters and other catastrophic events; changes in laws or government regulation affecting our business; and the impact of pending or future litigation or regulatory actions. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described under the caption “Risk Factors” in our most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on February 23, 2023, as updated by our periodic reports and other filings with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and, except as required by law, we assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. We do not give any assurance that we will achieve our expectations. ___________________________ 1Opendoor has not provided a quantitative reconciliation of forecasted Contribution profit (loss) to forecasted GAAP gross profit (loss) nor a reconciliation of forecasted Adjusted EBITDA to forecasted GAAP net income (loss) within this press release because the Company is unable, without making unreasonable efforts, to calculate certain reconciling items with confidence. These items include, but are not limited to, inventory valuation adjustment and equity securities fair value adjustment. These items, which could materially affect the computation of forward-looking GAAP gross profit (loss) and net income (loss), are inherently uncertain and depend on various factors, some of which are outside of the Company’s control. For more information regarding the non-GAAP financial measures discussed in this press release, please see “Use of Non-GAAP Financial Measures” following the financial tables below. Contact Information Investors:investors@opendoor.com Media:press@opendoor.com Use of Non-GAAP Financial Measures To provide investors with additional information regarding the Company’s financial results, this press release includes references to certain non-GAAP financial measures that are used by management. The Company believes these non-GAAP financial measures including Adjusted Gross Profit (Loss), Contribution Profit (Loss), Adjusted Net Loss, Adjusted EBITDA, and any such non-GAAP financial measures expressed as a Margin, are useful to investors as supplemental operational measurements to evaluate the Company’s financial performance. The non-GAAP financial measures should not be considered in isolation or as a substitute for the Company’s reported GAAP results because they may include or exclude certain items as compared to similar GAAP-based measures, and such measures may not be comparable to similarly-titled measures reported by other companies. Management uses these non-GAAP financial measures for financial and operational decision-making and as a means to evaluate period-to-period comparisons. Management believes that these non-GAAP financial measures provide meaningful supplemental information regarding the Company’s performance by excluding certain items that may not be indicative of the Company’s recurring operating results. Adjusted Gross Profit (Loss) and Contribution Profit (Loss) To provide investors with additional information regarding our margins and return on inventory acquired, we have included Adjusted Gross Profit (Loss) and Contribution Profit (Loss), which are non-GAAP financial measures. We believe that Adjusted Gross Profit (Loss) and Contribution Profit (Loss) are useful financial measures for investors as they are supplemental measures used by management in evaluating unit level economics and our operating performance. Each of these measures is intended to present the economics related to homes sold during a given period. We do so by including revenue generated from homes sold (and adjacent services) in the period and only the expenses that are directly attributable to such home sales, even if such expenses were recognized in prior periods, and excluding expenses related to homes that remain in inventory as of the end of the period. Contribution Profit (Loss) provides investors a measure to assess Opendoor’s ability to generate returns on homes sold during a reporting period after considering home purchase costs, renovation and repair costs, holding costs and selling costs. Adjusted Gross Profit (Loss) and Contribution Profit (Loss) are supplemental measures of our operating performance and have limitations as analytical tools. For example, these measures include costs that were recorded in prior periods under GAAP and exclude, in connection with homes held in inventory at the end of the period, costs required to be recorded under GAAP in the same period. Accordingly, these measures should not be considered in isolation or as a substitute for analysis of our results as reported under GAAP. We include a reconciliation of these measures to the most directly comparable GAAP financial measure, which is gross profit (loss). Adjusted Gross Profit (Loss) / Margin We calculate Adjusted Gross Profit (Loss) as gross profit under GAAP adjusted for (1) inventory valuation adjustment in the current period, and (2) inventory valuation adjustment in prior periods. Inventory valuation adjustment in the current period is calculated by adding back the inventory valuation adjustments recorded during the period on homes that remain in inventory at period end. Inventory valuation adjustment in prior periods is calculated by subtracting the inventory valuation adjustments recorded in prior periods on homes sold in the current period. We define Adjusted Gross Margin as Adjusted Gross Profit (Loss) as a percentage of revenue. We view this metric as an important measure of business performance as it captures gross margin performance isolated to homes sold in a given period and provides comparability across reporting periods. Adjusted Gross Profit (Loss) helps management assess home pricing, service fees and renovation performance for a specific resale cohort. Contribution Profit (Loss) / Margin We calculate Contribution Profit (Loss) as Adjusted Gross Profit (Loss), minus certain costs incurred on homes sold during the current period including: (1) holding costs incurred in the current period, (2) holding costs incurred in prior periods, and (3) direct selling costs. The composition of our holding costs is described in the footnotes to the reconciliation table below. Contribution Margin is Contribution Profit (Loss) as a percentage of revenue. We view this metric as an important measure of business performance as it captures the unit level performance isolated to homes sold in a given period and provides comparability across reporting periods. Contribution Profit (Loss) helps management assess inflows and outflows directly associated with a specific resale cohort. OPENDOOR TECHNOLOGIES INC.RECONCILIATION OF GAAP TO NON-GAAP MEASURES(In millions, except percentages, and homes sold)(Unaudited) The following table presents a reconciliation of our Adjusted Gross Profit (Loss) and Contribution Profit (Loss) to our gross profit (loss), which is the most directly comparable GAAP measure, for the periods indicated: ________________ (1)Inventory valuation adjustment includes adjustments to record real estate inventory at the lower of its carrying amount or its net realizable value. (2)Inventory valuation adjustment — Current Period is the inventory valuation adjustments recorded during the period presented associated with homes that remain in inventory at period end. (3)Inventory valuation adjustment — Prior Periods is the inventory valuation adjustments recorded in prior periods associated with homes that sold in the period presented. (4)Represents selling costs incurred related to homes sold in the relevant period. This primarily includes broker commissions, external title and escrow-related fees and transfer taxes. (5)Holding costs include mainly property taxes, insurance, utilities, homeowners association dues, cleaning and maintenance costs. Holding costs are included in Sales, marketing, and operations on the Condensed Consolidated Statements of Operations. (6)Represents holding costs incurred in the period presented on homes sold in the period presented. (7)Represents holding costs incurred in prior periods on homes sold in the period presented. Adjusted Net Loss and Adjusted EBITDA We also present Adjusted Net Loss and Adjusted EBITDA, which are non-GAAP financial measures that management uses to assess our underlying financial performance. These measures are also commonly used by investors and analysts to compare the underlying performance of companies in our industry. We believe these measures provide investors with meaningful period over period comparisons of our underlying performance, adjusted for certain charges that are non-recurring, non-cash, not directly related to our revenue-generating operations, not aligned to related revenue, or not reflective of ongoing operating results that vary in frequency and amount. Adjusted Net Loss and Adjusted EBITDA are supplemental measures of our operating performance and have important limitations. For example, these measures exclude the impact of certain costs required to be recorded under GAAP. These measures also include inventory valuation adjustments that were recorded in prior periods under GAAP and exclude, in connection with homes held in inventory at the end of the period, inventory valuation adjustments required to be recorded under GAAP in the same period. These measures could differ substantially from similarly titled measures presented by other companies in our industry or companies in other industries. Accordingly, these measures should not be considered in isolation or as a substitute for analysis of our results as reported under GAAP. We include a reconciliation of these measures to the most directly comparable GAAP financial measure, which is net (loss) income. Adjusted Net Loss We calculate Adjusted Net Loss as GAAP net (loss) income adjusted to exclude non-cash expenses of stock-based compensation, equity securities fair value adjustment, and intangibles amortization expense. It excludes expenses that are not directly related to our revenue-generating operations such as restructuring and legal contingency accruals. It excludes (gain) loss on extinguishment of debt as these expenses were incurred as a result of decisions made by management to repay portions of our outstanding credit facilities early; these expenses are not reflective of ongoing operating results and vary in frequency and amount. Adjusted Net Loss also aligns the timing of inventory valuation adjustments recorded under GAAP to the period in which the related revenue is recorded in order to improve the comparability of this measure to our non-GAAP financial measures of unit economics, as described above. Our calculation of Adjusted Net Loss does not currently include the tax effects of the non-GAAP adjustments because our taxes and such tax effects have not been material to date. Adjusted EBITDA We calculated Adjusted EBITDA as Adjusted Net Loss adjusted for depreciation and amortization, property financing and other interest expense, interest income, and income tax expense. Adjusted EBITDA is a supplemental performance measure that our management uses to assess our operating performance and the operating leverage in our business. The following table presents a reconciliation of our Adjusted Net Loss and Adjusted EBITDA to our net (loss) income, which is the most directly comparable GAAP measure, for the periods indicated: ________________ (1)Represents the gains and losses on certain financial instruments, which are marked to fair value at the end of each period. (2)Represents amortization of acquisition-related intangible assets. The acquired intangible assets have useful lives ranging from 1 to 5 years and amortization is expected until the intangible assets are fully amortized. (3)Inventory valuation adjustment includes adjustments to record real estate inventory at the lower of its carrying amount or its net realizable value. (4)Inventory valuation adjustment — Current Period is the inventory valuation adjustments recorded during the period presented associated with homes that remain in inventory at period end. (5)Inventory valuation adjustment — Prior Periods is the inventory valuation adjustments recorded in prior periods associated with homes that sold in the period presented.(6)Restructuring costs consist primarily of severance and employee termination benefits related to the Company’s April 2023 workforce reduction. (7)Includes primarily sublease income, income from equity method investments, and gain on lease termination. (8)Includes interest expense on our non-recourse asset-backed debt facilities. (9)Includes amortization of debt issuance costs and loan origination fees, commitment fees, unused fees, other interest related costs on our asset-backed debt facilities, interest expense related to the 2026 convertible senior notes outstanding, and interest expense on other secured borrowings. (10)Consists mainly of interest earned on cash, cash equivalents, restricted cash and marketable securities. |
2024-11-02 | The Times of India | Stock market update: Stocks that hit 52-week highs on NSE in today's trade | Getty Images Nagaraj Shetti, Technical Research Analyst at HDFC Securities, believes Monday's pattern could be considered as a High Wave, which reflects high volatility in the market at swing highs. NEW DELHI: Shares of PTC Financial, JP Associates, Maheshwari Logistics, Mittal Life Style and Cupid Ltd, hit their fresh 52-week highs during Thursday's trade on NSE. Benchmark NSE Nifty closed 144.1 points up at 19133.25 amid buying in frontline bluechip counters. However, stocks such as Cantabil Retail, Godha Cabcon & Insul, Orient Bell, Winsome Yarns and InfoBeans Tech, touched their fresh 52-week lows. Overall, 41 shares ended in the green in Nifty50 index, while 9 closed in the red. In the Nifty 50 index, Britannia, Hindalco, IndusInd Bank, Apollo Hospital and Eicher Motors were among top gainers during the day, while Hero MotoCorp, Tech Mahindra, Bajaj Auto, Bajaj Finance and ONGC ended in the red. The BSE Sensex closed 489.57 points up at 64080.9. Traders piled up positions in Telecommunications, Term Lending Institutions, Cables, Airlines and Real Estate sectors, while selling was witnessed in Fertilisers, Construction, Apparels, Industrial Consumables and IT - Hardware sectors during the day. Connect with Experts - Wealth creation made easy Experience Your Economic Times Newspaper, The Digital Way! Saturday, 04 Nov, 2023 Read Complete ePaper » Digital View Print View Wealth Edition Apple Rings Louder: Sept Qtr Sees Record Revenue in India Apple Inc set a new quarterly revenue record in India with a strong double-digit year-on-year growth in the September quarter, chief executive Tim Cook said on Friday, adding that the world’s second-largest smartphone market is a key focus for the Cupertino, US-based company where it currently has a low share. Young & Restless Driving Change at Motown’s Luxe St Luxury car buyers in India are getting younger with two out of five Audi buyers aged less than 40. At Mercedes-Benz India, buyers have an average age of 38 years, the youngest for the German luxury carmaker globally. The scenario is similar at BMW India where consumers aged 35-40 contribute bulk of the sales. Sony Wants Own Exec as Head of Merged Co Instead of Zee’s Goenka Zee Entertainment Enterprises Ltd (ZEEL) chief Punit Goenka’s position as MD and CEO of the proposed Sony-Zee merged entity is on shaky ground as he continues to be under investigation by the Securities and Exchange Board of India (Sebi) for the alleged diversion of funds from ZEEL to promoter entities, people aware of the development told ET. Read More News on 52 week high stocks nse 52 week high 52 week high stocks today nse stocks update NSE updates today (What's moving Sensex and Nifty Track latest market news , stock tips and expert advice on ETMarkets . Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Download The Economic Times News App to get Daily Market Updates & Live Business News. Top Trending Stocks: Sensex Today Live , SBI Share Price , Axis Bank Share Price , HDFC Bank Share Price , Infosys Share Price , Wipro Share Price , NTPC Share Price ... more less Pick the best stocks for yourself
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2024-11-02 | The Times of India | We are in a relief rally after Fed respite: Hemang Jani | ETMarkets.com Hemang Jani , Independent Market Expert, says in the last one-and-a-half years, the IT index had been underperforming. We have to see if incrementally there are any kind of data points to suggest that hiring is back, technology spend is back because that will give a good amount of delta play as risk reward is in favour and we need some trigger to give some kind of growth. One cannot be negative on IT at this point but really need to watch out for good triggers and for buying opportunities”. Could today be the turn which everybody has been waiting for? What do markets want for some stability and strength? It needs some support coming from the earning side and earnings season by and large has been quite good. In fact, at the Nifty level, it is slightly better than what the market was expecting and also we need a little bit of support and stability in the global markets which has not been coming through for a while. So, we have some relief coming through from the global markets and it looks like that at least for the near term, the possibility of a rate hike is out of the way. So, we are in for some sort of a relief rally . Unlock Leadership Excellence with a Range of CXO Courses Offering College Course Website Indian School of Business ISB Chief Digital Officer Visit IIM Lucknow IIML Chief Executive Officer Programme Visit IIM Kozhikode IIMK Chief Product Officer Programme Visit Now, how long that rally will continue, which pockets will really contribute to that, that is something that we will have to really figure out. But there is a case for a good amount of rally in the index and certain midcap stocks also. Tata Steel 's earnings seem to be weak across the board? Yes, there was that exceptional item this time around but all parameters like operational performance, revenue growth has been lacklustre. What does this spell out for Tata Steel? Will the pain continue? It looks like the Europe continues to be a drag for Tata Steel and the kind of impairments that they have taken at the UK facility would have some sort of an overhang on the stock performance and we have to remember that China being a big economy for the metal, not doing so well, and a bit of a concern on major other markets will have some bearing on the outlook for a global play like Tata Steel. I think in the near term at least it would be best to really leave this space because of the kind of erratic data points that we are seeing. You Might Also Like: Real estate will have a good time for next four-five years: Sudip Bandyopadhyay Cognizant is talking about no growth and I do not remember when I heard this last. It must have been 2008 when IT companies had a year of no growth. I am surprised. Are you not surprised with Cognizant? At the beginning of the year 10% growth and now no growth! In 9 months, everything is gone. Actually, it does not surprise us because if you look at TCS, in the last three quarters, they are reporting flattish growth. Now the analysts are talking about 8% to 10% growth for FY25. The market had started pricing that in much before. If you recall, in the last one-and-a-half years, the IT index had been underperforming, which means that the market is far smarter in factoring in slowdown or major trends. I think the market has already priced that in. I think what we have to see is incrementally are there any kind of data points which will suggest that the hiring is back, the technology spend is back because that is what will give you a good amount of delta play because the risk reward is in favour and we really need some trigger to give some kind of growth. One cannot be negative on IT at this point but yes you really need to watch out for good triggers and should look out for buying opportunities. Across the board real estate stocks have been riveting, DLF numbers, you cannot find a fault line there. DLF this year is up 50%, Oberoi Realty 34%, Prestige same movement in terms of the price action. These are bumper gain guys, these are bumper gains in some of the real estate stocks. Is it too good to be true? I think last almost two years if you look at the real estate in terms of the fresh sales registrations, the kind of new projects which are being announced, the improvement in the balance sheet when it comes to real estate companies, even the commercial side of it, the yields and the traction seems to be improving. So, a lot of things are going for this sector. If you look at Mumbai, the kind of AQI and all, we are of course worried about all of that but that shows the kind of traction which is there when it comes to construction. I think this is a theme which will continue, despite higher interest rates, growth has continued and that has surprised many participants. But yes, in terms of the price moves, because it has already happened I would be more comfortable buying into a DLF or an Oberoi or a Lodha at a 10-12% correction. But if you are a momentum player, I think you should definitely go with it. What within auto is looking appealing given that most of the earnings are out of the way, for instance Hero Moto as well in line set of numbers, the management is talking about consumer confidence coming back. What has really surprised me personally is the way the two-wheeler numbers have been out and this was a space where people had a slightly negative view that okay the growth is not going to come through. But if you look at the performance of Hero Motor, TVS and Bajaj Auto, of course, it is mind-blowing. Even Maruti numbers were good, though the stock has slightly muted reaction. I think auto as a space should do well. If it cools off, surely it will present a great opportunity because the numbers both in terms of quarterly performance and the festive season sales showing good traction. You Might Also Like: Bullish on 3 stocks in auto, telecom sectors: Mayuresh Joshi What is your take on consumption? Consumption has not exactly been great. In the case of HUL, the volume growth was hardly about 2%, Britannia again has been a bit of a disappointment on the top line front. Of course, margin expansion is something which is surprising everyone as to how exactly companies are reporting 400-500 bps improvement in the margin. But the fact of the matter is that the rural side is definitely a pain point and the valuations are not exactly cheap so when there is a risk appetite prevailing people may want to hide behind some of these names but in terms of growth versus valuations, I would not consider this as a great place to be in. For the time being, it is an avoid for me. What is the outlook when it comes to the entire pharma space? There is some amount of comeback, particularly when you look at the Cipla and Dr Reddy’s numbers. Definitely, it is giving a certain degree of comfort to the companies which are focusing on the overseas market generic opportunity. So both these companies should do well. Sun Pharma was a mixed bag, nothing great in terms of positive trigger or surprise. But broadly the sector is coming back and we should have a certain exposure to largecap pharma. Connect with Experts - Wealth creation made easy Experience Your Economic Times Newspaper, The Digital Way! Saturday, 04 Nov, 2023 Read Complete ePaper » Digital View Print View Wealth Edition Apple Rings Louder: Sept Qtr Sees Record Revenue in India Apple Inc set a new quarterly revenue record in India with a strong double-digit year-on-year growth in the September quarter, chief executive Tim Cook said on Friday, adding that the world’s second-largest smartphone market is a key focus for the Cupertino, US-based company where it currently has a low share. Young & Restless Driving Change at Motown’s Luxe St Luxury car buyers in India are getting younger with two out of five Audi buyers aged less than 40. At Mercedes-Benz India, buyers have an average age of 38 years, the youngest for the German luxury carmaker globally. The scenario is similar at BMW India where consumers aged 35-40 contribute bulk of the sales. Sony Wants Own Exec as Head of Merged Co Instead of Zee’s Goenka Zee Entertainment Enterprises Ltd (ZEEL) chief Punit Goenka’s position as MD and CEO of the proposed Sony-Zee merged entity is on shaky ground as he continues to be under investigation by the Securities and Exchange Board of India (Sebi) for the alleged diversion of funds from ZEEL to promoter entities, people aware of the development told ET. Read More News on hemang jani tata steel dlf relief rally nifty it index expert view Stock Market et now (What's moving Sensex and Nifty Track latest market news , stock tips and expert advice on ETMarkets . Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Download The Economic Times News App to get Daily Market Updates & Live Business News. 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2024-11-02 | GlobeNewswire | CubeSmart Reports Third Quarter 2023 Results | MALVERN, Pa., Nov. 02, 2023 (GLOBE NEWSWIRE) -- CubeSmart (NYSE: CUBE) today announced its operating results for the three and nine months ended September 30, 2023. “Our third quarter performance reflects the geographic and demographic quality of our portfolio. Our urban markets have outperformed, led by New York City, as demand and pricing are more stable and less impacted by the single-family home sales market,” commented President and Chief Executive Officer Christopher P. Marr. “As post-pandemic demand trends normalize and macroeconomic conditions remain volatile, our seasoned management team is maintaining our focus on maximizing revenues, controlling our costs, and providing outstanding customer service.” Key Highlights for the Third Quarter Financial Results Net income attributable to the Company’s common shareholders was $102.6 million for the third quarter of 2023, compared with $112.9 million for the third quarter of 2022. A significant driver of the year over year decrease was a $45.7 million gain during the 2022 period related to the sale of the 14 properties within the HVPSE joint venture partially offset by decreased amortization of in-place lease intangibles related to stores acquired in 2021. Diluted EPS attributable to the Company’s common shareholders was $0.45 for the third quarter of 2023, compared with $0.50 for the same period last year. FFO, as adjusted, was $154.0 million for the third quarter of 2023, compared with $150.0 million for the third quarter of 2022. FFO, as adjusted, per diluted share increased 3.0% to $0.68 for the third quarter of 2023, compared with $0.66 for the same period last year. Investment Activity Acquisition Activity The Company is under contract to acquire a store in New Jersey for $22.0 million. This acquisition is expected to close during the fourth quarter of 2023. Development Activity The Company has agreements with developers for the construction of self-storage properties in high-barrier-to-entry locations. As of September 30, 2023, the Company had three joint venture development properties under construction. The Company anticipates investing a total of $75.2 million related to these projects and had invested $39.1 million of that total as of September 30, 2023. The stores are located in New Jersey (1) and New York (2) and are expected to open at various times during 2024. Third-Party Management As of September 30, 2023, the Company’s third-party management platform included 763 stores totaling 49.9 million rentable square feet. During the three and nine months ended September 30, 2023, the Company added 41 stores and 124 stores, respectively, to its third-party management platform. Same-Store Results The Company’s same-store portfolio at September 30, 2023 included 592 stores containing 42.3 million rentable square feet, or approximately 96.0% of the aggregate rentable square feet of the Company’s 611 consolidated stores. These same-store properties represented approximately 96.9% of property NOI for the three months ended September 30, 2023. Same-store physical occupancy as of September 30, 2023 and 2022 was 91.4% and 93.1%, respectively. Same-store revenues for the third quarter of 2023 increased 2.3% and same-store operating expenses increased 3.0% from the same quarter in 2022. Same-store NOI increased 2.0% from the third quarter of 2022 to the third quarter of 2023. Operating Results As of September 30, 2023, the Company’s total consolidated portfolio included 611 stores containing 44.1 million rentable square feet and had physical occupancy of 90.7%. Revenues increased $6.5 million and property operating expenses increased $0.8 million in the third quarter of 2023, as compared to the same period in 2022. Increases in revenues were primarily attributable to increased rental rates on our same-store portfolio. Increases in property operating expenses were primarily attributable to increases in expenses from same-store properties largely related to property insurance premiums and property taxes. Interest expense decreased from $23.9 million during the three months ended September 30, 2022 to $23.2 million during the three months ended September 30, 2023, a decrease of $0.7 million. The decrease was attributable to a decrease in the average outstanding debt balance during the 2023 period compared to the 2022 period, partially offset by higher interest rates during the 2023 period compared to the 2022 period. The average outstanding debt balance decreased to $3.00 billion during the three months ended September 30, 2023 as compared to $3.14 billion during the three months ended September 30, 2022. The weighted average effective interest rate on our outstanding debt increased to 3.04% for the three months ended September 30, 2023 compared to 2.99% during the three months ended September 30, 2022. Financing Activity During the three months ended September 30, 2023, the Company did not sell any common shares of beneficial interest through its at-the-market ("ATM") equity program. As of September 30, 2023, the Company had 5.8 million shares available for issuance under the existing equity distribution agreements. Quarterly Dividend On July 25, 2023, the Company declared a quarterly dividend of $0.49 per common share. The dividend was paid on October 16, 2023 to common shareholders of record on October 2, 2023. 2023 Financial Outlook “Current conditions in the investment and capital markets call for a steady and disciplined approach to capital allocation. We are confident there will be a period of robust opportunity as conditions stabilize,” commented Chief Financial Officer Tim Martin. “The quality of our balance sheet, partner relationships and investment team have us well-positioned to grow, while our third-party management program continues to provide a capital-light avenue to leverage our operating platform.” The Company estimates that its fully diluted earnings per share for the year will be between $1.78 and $1.80 (previously $1.77 to $1.81), and that its fully diluted FFO per share, as adjusted, for 2023 will be between $2.65 and $2.67 (previously $2.64 to $2.68). Due to uncertainty related to the timing and terms of transactions, the impact of any potential future speculative investment activity is excluded from guidance. For 2023, the same-store pool consists of 592 properties totaling 42.3 million rentable square feet. Conference Call Management will host a conference call at 11:00 a.m. ET on Friday, November 3, 2023 to discuss financial results for the three months ended September 30, 2023. A live webcast of the conference call will be available online from the investor relations page of the Company’s corporate website at www.cubesmart.com. Telephone participants may join on the day of the call by dialing 1 (888) 575-5163. After the live webcast, the call will remain available on CubeSmart’s website for 15 days. In addition, a telephonic replay of the call will be available through November 17, 2023 by dialing 1 (877) 674-7070 using conference number 497209#. Supplemental operating and financial data as of September 30, 2023 is available in the Investor Relations section of the Company’s corporate website. About CubeSmart CubeSmart is a self-administered and self-managed real estate investment trust. The Company's self-storage properties are designed to offer affordable, easily accessible and, in most locations, climate-controlled storage space for residential and commercial customers. According to the 2023 Self-Storage Almanac, CubeSmart is one of the top three owners and operators of self-storage properties in the United States. Non-GAAP Financial Measures Funds from operations (“FFO”) is a widely used performance measure for real estate companies and is provided here as a supplemental measure of operating performance. The April 2002 National Policy Bulletin of the National Association of Real Estate Investment Trusts (the “White Paper”), as amended, defines FFO as net income (computed in accordance with GAAP), excluding gains (or losses) from sales of real estate and related impairment charges, plus real estate depreciation and amortization, and after adjustments for unconsolidated partnerships and joint ventures. Management uses FFO as a key performance indicator in evaluating the operations of the Company's stores. Given the nature of its business as a real estate owner and operator, the Company considers FFO a key measure of its operating performance that is not specifically defined by accounting principles generally accepted in the United States. The Company believes that FFO is useful to management and investors as a starting point in measuring its operational performance because FFO excludes various items included in net income that do not relate to or are not indicative of its operating performance such as gains (or losses) from sales of real estate, gains from remeasurement of investments in real estate ventures, impairments of depreciable assets, and depreciation, which can make periodic and peer analyses of operating performance more difficult. The Company’s computation of FFO may not be comparable to FFO reported by other REITs or real estate companies. FFO should not be considered as an alternative to net income (determined in accordance with GAAP) as an indication of the Company’s performance. FFO does not represent cash generated from operating activities determined in accordance with GAAP and is not a measure of liquidity or an indicator of the Company’s ability to make cash distributions. The Company believes that to further understand its performance, FFO should be compared with its reported net income and considered in addition to cash flows computed in accordance with GAAP, as presented in its consolidated financial statements. FFO, as adjusted represents FFO as defined above, excluding the effects of acquisition related costs, gains or losses from early extinguishment of debt, and other non-recurring items, which the Company believes are not indicative of the Company’s operating results. The Company defines net operating income, which it refers to as “NOI,” as total continuing revenues less continuing property operating expenses. NOI also can be calculated by adding back to net income (loss): interest expense on loans, loan procurement amortization expense, loss on early extinguishment of debt, acquisition related costs, equity in losses of real estate ventures, other expense, depreciation and amortization expense, general and administrative expense, and deducting from net income (loss): equity in earnings of real estate ventures, gains from sales of real estate, net, other income, gains from remeasurement of investments in real estate ventures and interest income. NOI is a measure of performance that is not calculated in accordance with GAAP. Management uses NOI as a measure of operating performance at each of its stores, and for all of its stores in the aggregate. NOI should not be considered as a substitute for net income, cash flows provided by operating, investing and financing activities, or other income statement or cash flow statement data prepared in accordance with GAAP. The Company believes NOI is useful to investors in evaluating operating performance because it is one of the primary measures used by management and store managers to evaluate the economic productivity of the Company’s stores, including the ability to lease stores, increase pricing and occupancy, and control property operating expenses. Additionally, NOI helps the Company’s investors meaningfully compare the results of its operating performance from period to period by removing the impact of its capital structure (primarily interest expense on outstanding indebtedness) and depreciation of the basis in its assets from operating results. Forward-Looking Statements This presentation, together with other statements and information publicly disseminated by CubeSmart (“we,” “us,” “our” or the “Company”), contain certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, or the “Exchange Act.” Forward-looking statements include statements concerning the Company’s plans, objectives, goals, strategies, future events, future revenues or performance, capital expenditures, financing needs, plans or intentions relating to acquisitions and other information that is not historical information. In some cases, forward-looking statements can be identified by terminology such as “believes,” “expects,” “estimates,” “may,” “will,” “should,” “anticipates,” or “intends” or the negative of such terms or other comparable terminology, or by discussions of strategy. Such statements are based on assumptions and expectations that may not be realized and are inherently subject to risks, uncertainties and other factors, many of which cannot be predicted with accuracy and some of which might not even be anticipated. Although we believe the expectations reflected in these forward-looking statements are based on reasonable assumptions, future events and actual results, performance, transactions or achievements, financial and otherwise, may differ materially from the results, performance, transactions or achievements expressed or implied by the forward-looking statements. As a result, you should not rely on or construe any forward-looking statements in this presentation, or which management or persons acting on their behalf may make orally or in writing from time to time, as predictions of future events or as guarantees of future performance. We caution you not to place undue reliance on forward-looking statements, which speak only as of the date of this presentation or as of the dates otherwise indicated in such forward-looking statements. All of our forward-looking statements, including those in this presentation, are qualified in their entirety by this statement. There are a number of risks and uncertainties that could cause our actual results to differ materially from the forward-looking statements contained in or contemplated by this presentation. Any forward-looking statements should be considered in light of the risks and uncertainties referred to in Item 1A. “Risk Factors” in our Annual Report on Form 10-K and in our other filings with the Securities and Exchange Commission (“SEC”). These risks include, but are not limited to, the following: Given these uncertainties, we caution readers not to place undue reliance on forward-looking statements. We undertake no obligation to publicly update or revise these forward-looking statements, whether as a result of new information, future events or otherwise except as may be required in securities laws. Contact: CubeSmartJosh SchutzerVice President, Finance(610) 535-5700 CUBESMART AND SUBSIDIARIESCONSOLIDATED BALANCE SHEETS(in thousands, except share data) CUBESMART AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF OPERATIONS(in thousands, except share data)(unaudited) Same-Store Facility Results (592 stores)(in thousands, except percentage and per square foot data)(unaudited) (1) For comparability purposes, current year amounts related to the expiration of certain real estate tax abatements have been excluded from the same-store portfolio results ($174k and $503k for the three and nine months ended September 30, 2023, respectively). (2) Net operating income (“NOI”) is a non-GAAP (generally accepted accounting principles) financial measure. The above table reconciles same-store NOI to GAAP Net income. (3) Realized annual rent per occupied square foot is computed by dividing rental income by the weighted average occupied square feet for the period. (4) Includes property management income earned in conjunction with managed properties. Non-GAAP Measure – Computation of Funds From Operations(in thousands, except percentage and per share data)(unaudited) (1) For the three months ended September 30, 2023, represents a loss related to the sale of the California Yacht Club, which was acquired in 2021 as part of the Company's acquisition of LAACO, Ltd. This amount is included in the component of other (expense) income designated as Other within our consolidated statements of operations. For the three and nine months ended September 30, 2022 and the nine months ended September 30, 2023, includes gains on sale and distributions made to the Company in excess of its investment in the 191 IV CUBE Southeast LLC ("HVPSE") unconsolidated real estate venture. HVPSE sold all 14 of its properties on August 30, 2022. The distributions during the nine months ended September 30, 2023 relate to proceeds that were held back at the time of the sale. These gains are included in Equity in earnings of real estate ventures within our consolidated statements of operations. (2) For the nine months ended September 30, 2022, transaction-related expenses include severance expenses ($10.3 million) and other transaction expenses ($0.2 million). Prior to our acquisition of LAACO, Ltd. on December 9, 2021, the predecessor company entered into severance agreements with certain employees, including members of their executive team. These costs were known to us and the assumption of the obligation to make these payments post-closing was contemplated in our net consideration paid in the transaction. In accordance with GAAP, and based on the specific details of the arrangements with the employees prior to closing, these costs are considered post-combination compensation expenses. Transaction-related expenses are included in the component of other income (expense) designated as Other within our consolidated statements of operations. |
2024-11-02 | Marketscreener.com | Uniti : Q3 2023 Uniti Group Earnings Conference Call Presentation | Third Quarter 2023 Financial Results Conference Call Presentation November 2, 2023 Together, Building the Future Safe Harbor Certain statements in this presentation may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended from time to time. Those forward-looking statements include all statements that are not historical statements of fact, including, without limitation, our 2023 financial outlook, expectations regarding high-margin recurring revenue, lease-up of our network and strong demand trends, our business strategies, growth prospects, industry trends, sales opportunities, and operating and financial performance. Words such as "anticipate(s)," "expect(s)," "intend(s)," "estimate(s)," "foresee(s)," "plan(s)," "believe(s)," "may," "will," "would," "could," "should," "seek(s)" and similar expressions, or the negative of these terms, are intended to identify such forward-looking statements. These statements are based on management's current expectations and beliefs and are subject to a number of risks and uncertainties that could lead to actual results differing materially from those projected, forecasted or expected. Although we believe that the assumptions underlying the forward-looking statements are reasonable, we can give no assurance that our expectations will be attained. Factors which could materially alter our expectations include, but are not limited to, the future prospects of Windstream, our largest customer; the ability and willingness of our customers to renew their leases with us upon their expiration, and the ability to reposition our properties on the same or better terms in the event of nonrenewal or in the event we replace an existing tenant; the availability of and our ability to identify suitable acquisition opportunities and our ability to acquire and lease the respective properties on favorable terms; the risk that we fail to fully realize the potential benefits of acquisitions or have difficulty integrating acquired companies; our ability to generate sufficient cash flows to service our outstanding indebtedness and fund our capital funding commitments; our ability to access debt and equity capital markets; the impact on our business or the business of our customers as a result of credit rating downgrades and fluctuating interest rates; our ability to retain our key management personnel; changes in the U.S. tax law and other state, federal or local laws, whether or not specific to real estate investment trusts; covenants in our debt agreements that may limit our operational flexibility; the possibility that we may experience equipment failures, natural disasters, cyber-attacks or terrorist attacks for which our insurance may not provide adequate coverage; other risks inherent in the communications industry and in the ownership of communications distribution systems, including potential liability relating to environmental matters and illiquidity of real estate investments; and additional factors described in our reports filed with the SEC. Uniti expressly disclaims any obligation to release publicly any updates or revisions to any of the forward-looking statements set forth in this presentation to reflect any change in its expectations or any change in events, conditions or circumstances on which any statement is based. This presentation may contain certain supplemental measures of performance that are not required by, or presented in accordance with, accounting principles generally accepted in the United States ("GAAP"). Such measures should not be considered as alternatives to GAAP. Further information with respect to and reconciliations of such measures to the nearest GAAP measure can be found herein. 2 Strategic Fiber Revenue 2023 MRR Growth Outlook(1) ($ in millions) $40 - $46 $343 - $349 ~4% to 6% Year-Over-Year Growth (2) (3) (2) Continue to Execute on Our Lease-Up Strategy (1) Includes Uniti Fiber and Non-Windstream Uniti Leasing recurring revenue. (2) Represents annualized MRR as of the last day of the year. 3 (3) Excludes one-time rerate churn associated with two large wireless lit backhaul renewals. Cumulative Uniti Lease-Up ▪Results in Combined Anchor and Lease-Up Cash Yield of ~24% Incremental Cash Yield ~100% Incremental Cash Yield 28% Cumulative Cash Yield Has Increased More Than 3x from Anchor Cash Yield (1) (2) (3) (4) (5) Lease-up Provides Significant Upside on Fiber Acquired Through Sale Leasebacks and Other Asset Acquisitions (4) Calculated as expected annualized recurring cash flow from lease-up sold to-date through September 30, 2023 at Uniti Leasing divided by capital spent to acquire fiber assets from Lumen Technologies (formerly CenturyLink), net of upfront customer IRU payments received. 4 (5) Represents expected cumulative cash yield on major wireless anchor builds plus lease-up at Uniti Fiber and reflects capital spent to acquire fiber assets from Lumen Technologies (formerly CenturyLink) and lease-up of those assets at Uniti Leasing. Uniti's National Fiber Network Top 10 Largest Fiber Providers in the U.S. (6) 1 RBOC 2 RBOC 3 RBOC 4 National Cable Provider 5 RLEC / National CLEC 6 National Cable Provider 7 Independent Fiber Provider 8 Uniti 9 International Carrier 10 Independent Fiber & Tower Provider Fiber Route Fiber Strand Route Miles Small Buildings Total Metro Miles(1) Miles(1) Constructed(2) Cells(3) Passed(4) Markets(5) ~139,000 ~8,400,000 ~25,000 ~2,600 ~300,000 ~300 Robust Demand For Our Portfolio of Mission Critical Communications Infrastructure (5) Represents the number of markets served by Uniti owned metro fiber or enterprise services. 5 (6) Source: Kagan and company estimates. Customer Mix Non- Wholesale(2) 11% 2022 Consolidated Revenue Mix Wholesale 89% Non- Wholesale(2) 24% Fiber Customer Mix(1) Traditional Wholesale(3) 53% Wireless 23% Predominantly Wholesale Business with Healthy Mix of Customers (1) Based on ending MRR as of September 30, 2023. Excludes MRR from Windstream ILEC master lease and related GCI. (2) Includes Enterprise, E-Rate and Government customers at Uniti Fiber. 6 (3) Includes wholesale customers at Uniti Fiber, Uniti Leasing Non-Windstream customers, including international and domestic carriers, hyperscalers, cable providers and government entities, and Windstream CLEC master lease. Uniti Leasing National Wholesale Business Overview ▪Strong Market and Growing Demand for High-Capacity North America Dark Fiber Demand(2) Long-Haul Routes $ in billions ~$4 $1.5 $1.6 2020 2021 2022E 2023E 2024E 2025E 2026E 2027E 2028E 2029E 2030E •Only Five Owned National Networks in the U.S. and Uniti Leasing Economics Only One Other Independent Fiber Provider ▪ Adjusted EBITDA Margin(3):~97% ▪Attractive Anchor and Lease-Up Economics with ▪ Capital Intensity(3):~33% Meaningful Organic Growth Potential •Dark and Lit Network Growth ▪ Average Contract Term Length(4):~20 Years •Expansion Opportunities for Uniti ▪ Monthly Churn %: ~0% Focus on Wholesale Opportunities Provides Significant Margin Enhancement and AFFO Growth (3) Based on the mid-point of 2023 Outlook range provided in the Company's Earnings Release dated November 2, 2023. 7 (4) Represents average contract term length for lease-up sold as of September 30, 2023. Excludes contract term remaining under the Windstream Master Lease Agreements. Contracts are subject to termination under certain conditions and/or may not be renewed. Consolidated New Sales Bookings (MRR $ in millions) $1.13 $0.98 $1.01 $0.93 $0.88 $0.4 $0.84 $0.3 $0.79 77% $0.3 74% $0.75 $0.71 66% 67% 74% $0.4 $0.62 64% $0.3 $0.4 62% $0.3 72% $0.53 61% 52% 64% $0.3 $0.3 $0.3 $0.8 $0.4 $0.7 $0.7 $0.5 $0.5 $0.5 $0.5 $0.4 $0.4 $0.3 $0.3 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 Wholesale Bookings(1) Non-Wholesale Bookings(2) Lease-Up Bookings %(3) Healthy Mix of Both Wholesale and Non-Wholesale Opportunities Driving Robust Growth Note: Amounts may not foot due to rounding. (2) Non-Wholesale Bookings include enterprise, E-Rate and government bookings at Uniti Fiber. 8 (3) Represents percentage of total bookings that comes from lease-up sold on our major wireless anchor builds and lease-up sold at Uniti Leasing. Metro Business Overview (MRR $ in thousands) $333$334 $328 $342 $304 $296 $300 $283 $298 $285 $279 $279 $269 $278 $263 $267 $260 $216 $227 $213 $199 $197 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 Enterprise New Sales Bookings Enterprise Gross Installs Enterprise Lease-Up Activity Key Contributor to High Margin Recuring Revenue 9 Third Quarter 2023 Consolidated Results ($ in millions) Revenue(1) Adjusted EBITDA(2) (3) AFFO(2) $283 $291 $74 $76 $233 $225 $29 $30 $113 $209 $215 $203 $209 $95 3Q22 3Q23 3Q22 3Q23 3Q22 3Q23 As Reported As Reported As Reported As Reported As Reported As Reported Uniti Leasing Uniti Fiber Uniti Leasing Uniti Fiber Uniti Consolidated Solid Recurring Growth Reflects Continued Emphasis on Higher Margin Revenue (3) Segment amounts do not foot to total as consolidated Adjusted EBITDA is net of corporate expenses of $7 million in 3Q22 and $5 million in 3Q23. 10 Attachments Disclaimer Uniti Group Inc.published this content on02 November 2023and is solely responsible for the information contained therein. Distributed byPublic, unedited and unaltered, on02 November 2023 12:23:55 UTC. |
2024-11-02 | The Times of India | Godrej Properties Q2 Results: Net Profit rises 22% YoY to Rs 67 crore | IANS New Delhi: Realty firm Godrej Properties on Thursday reported a 22% rise in its consolidated net profit to Rs 66.80 crore and an over two-fold jump in sales bookings to Rs 5,034 crore during the September quarter. Its net profit stood at Rs 54.96 crore in the year-ago period. Total income rose to Rs 605.11 crore during the July-September period of the 2023-24 financial year from Rs 369.20 crore in the corresponding period of the previous year, according to a regulatory filing. In an investors' presentation, Godrej Properties informed that its sales bookings jumped over two-fold to Rs 5,034 crore in the second quarter of this fiscal over Rs 2,409 crore in the year-ago period on higher volumes. The company said this is its "highest-ever quarterly sales-booking value". It achieved Rs 2,016 crore in sales bookings from a single project -- Godrej Tropical Isle -- in Noida. Godrej Properties, which is a real estate arm of business conglomerate Godrej Group, is one of the leading real estate developers in the country. It has projects across various cities but focuses mainly on Mumbai Metropolitan Region, Delhi-NCR, Pune and Bengaluru. Pirojsha Godrej, Executive Chairperson of Godrej Properties, said: "The residential real estate sector in India has been very strong and resilient over the past two years and we believe the real estate cycle will continue to strengthen over the next few years." The significant levels of business development the company has executed over the past several years provide it the opportunity to maximise the growth opportunities available in the market, he said. "our topmost priority is bringing these projects to market in the upcoming quarters," Godrej said. "We saw a strong demand for our new launches this quarter and we are delighted with the response to our project, Godrej Tropical Isle in Noida which received bookings of more than INR 2,000 crore within the quarter making it GPL's most successful ever launch," he highlighted. Connect with Experts - Wealth creation made easy Experience Your Economic Times Newspaper, The Digital Way! Saturday, 04 Nov, 2023 Read Complete ePaper » Digital View Print View Wealth Edition Apple Rings Louder: Sept Qtr Sees Record Revenue in India Apple Inc set a new quarterly revenue record in India with a strong double-digit year-on-year growth in the September quarter, chief executive Tim Cook said on Friday, adding that the world’s second-largest smartphone market is a key focus for the Cupertino, US-based company where it currently has a low share. Young & Restless Driving Change at Motown’s Luxe St Luxury car buyers in India are getting younger with two out of five Audi buyers aged less than 40. At Mercedes-Benz India, buyers have an average age of 38 years, the youngest for the German luxury carmaker globally. The scenario is similar at BMW India where consumers aged 35-40 contribute bulk of the sales. Sony Wants Own Exec as Head of Merged Co Instead of Zee’s Goenka Zee Entertainment Enterprises Ltd (ZEEL) chief Punit Goenka’s position as MD and CEO of the proposed Sony-Zee merged entity is on shaky ground as he continues to be under investigation by the Securities and Exchange Board of India (Sebi) for the alleged diversion of funds from ZEEL to promoter entities, people aware of the development told ET. Read More News on godrej properties godrej properties q2 results godrej properties q2 earnings godrej properties q2 fy24 results godrej properties q2 fy24 earnings godrej properties share price godrej properties stock update (What's moving Sensex and Nifty Track latest market news , stock tips and expert advice on ETMarkets . Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Download The Economic Times News App to get Daily Market Updates & Live Business News. Top Trending Stocks: Sensex Today Live , SBI Share Price , Axis Bank Share Price , HDFC Bank Share Price , Infosys Share Price , Wipro Share Price , NTPC Share Price ... more less Pick the best stocks for yourself
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Weekly Top Picks: Eight stocks with consistent score improvement and upside potential of up to 40% 9 mins read 4 stocks with 5 % to 8.87% dividend yields and continuous dividend payments for 7 years 7 mins read Weekly Top Picks: Seven large & mid caps with consistent score improvement and upside potential of up to 42% 9 mins read What do Q2 LIC results indicate for other Insurance companies? Two Life and 3 non-life Insurance players with “buy” and “strong buy” ratings 3 mins read Large cap stocks with upside potential of more than 25% 4 mins read 5 stocks for a high dividend yielding portfolio 8 mins read Eight midcap stocks, 2 with“ Strong Buy” and 6 with “Buy” recommendations with potential upside of up to 35% 7 mins read Six high ROE and low PEG ratio stocks, right combination for wealth creation 8 mins read
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2024-11-02 | Marketscreener.com | Spirit Realty Capital : Announces Third Quarter of 2023 Financial and Operating Results - Form 8-K | Spirit Realty Capital, Inc. Announces Third Quarter of2023 Financial and Operating Results - Generated Net Income per Share of$0.25, FFO per Share of$0.92and AFFO per Share of$0.93 - - Increased Common Stock Quarterly Dividend from $0.6630 per Share to $0.6696 per Share - - Invested $124.6 Million in Acquisitions and Revenue Producing Expenditures - - Generated $73.9 Million in Gross Proceeds from Dispositions - Dallas, TX- November 2, 2023 -Spirit Realty Capital, Inc. (NYSE: SRC) ("Spirit" or the "Company"), a net-lease real estate investment trust ("REIT") that invests in single-tenant, operationally essential real estate, today reported its financial and operating results for the third quarter ended September 30, 2023. HIGHLIGHTS Page | 1 DIVIDEND For the third quarter of 2023, the Board of Directors declared an increased quarterly cash dividend of $0.6696 per share of common stock, representing an annualized rate of $2.6784 per share. The Board of Directors also declared a quarterly cash dividend of $0.3750 per preferred share. The quarterly common stock dividend was paid on October 13, 2023 to stockholders of record as of September 29, 2023 and the preferred stock dividend was paid on September 29, 2023 to stockholders of record as of September 15, 2023. 2023 GUIDANCE In light of the Company's proposed merger with Realty Income Corporation ("Realty Income"), the Company withdraws its guidance for 2023. EARNINGS WEBCAST AND CONFERENCE CALL TIME In light of the Company's proposed merger with Realty Income, the Company will no longer host its previously planned earnings call. SUPPLEMENTAL PACKAGES A supplemental investor presentation that contains non-GAAP measures and other defined terms, along with this press release, have been posted to the investor relations page of the Company's website at www.spiritrealty.com. ABOUT SPIRIT REALTY Spirit Realty Capital, Inc. (NYSE: SRC) is a premier net-lease REIT that primarily invests in single-tenant, operationally essential real estate assets, subject to long-term leases. As of September 30, 2023,our diverse portfolio consisted of 2,037 retail, industrial and other properties across 49 states, which were leased to 338 tenants operating in 37 industries. As of September 30, 2023, our properties were approximately 99.6% occupied. More information about Spirit Realty Capital can be found on the investor relations page of the Company's website at www.spiritrealty.com. INVESTOR CONTACT Investor Relations (972) 476-1403 InvestorRelations@spiritrealty.com FORWARD-LOOKING AND CAUTIONARY STATEMENTS This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, the Private Securities Litigation Reform Act of 1995 and other federal securities laws. These forward-looking statements can be identified by the use of words and phrases such as "preliminary," "expect," "plan," "will," "estimate," "project," "intend," "believe," "guidance," "approximately," "anticipate," "may," "should," "seek," or the negative of these words and phrases or similar words or phrases that are predictions of or indicate future events or trends and that do not relate to historical matters but are meant to identify forward-looking statements. You can also identify forward-looking statements by discussions of strategy, plans or intentions of management. These forward-looking statements are subject to known and unknown risks and uncertainties that you should not rely on as predictions of future events. Forward-looking statements depend on assumptions, data and/or methods which may be incorrect or imprecise, and Spirit may not be able to realize them. Spirit does not guarantee that the events described will happen as described (or that they will happen at all). The following risks and uncertainties, among others, could cause actual results and future events to differ materially from those set forth or contemplated in the forward-looking statements: industry and global and local economic conditions; volatility and uncertainty in the financial markets, including potential fluctuations in the Consumer Price Index; Spirit's success in implementing its business strategy and its ability to identify, underwrite, finance, consummate, integrate and manage diversified acquisitions or investments; the financial performance of Page | 2 Spirit's retail tenants and the demand for retail space; decreased rental rates or increasing vacancy rates; Spirit's ability to diversify its tenant base; the nature and extent of future competition; increases in Spirit's costs of borrowing as a result of changes in interest rates and other factors; Spirit's ability to access debt and equity capital markets; Spirit's ability to pay down, refinance, restructure and/or extend its indebtedness as it becomes due; Spirit's ability and willingness to renew its leases upon expiration and to reposition its properties on the same or better terms upon expiration in the event such properties are not renewed by tenants or Spirit exercises its rights to replace existing tenants upon default; the impact of any financial, accounting, legal or regulatory issues or litigation that may affect Spirit or its major tenants; potential losses that may not be covered by insurance; information security and data privacy breaches; Spirit's ability to manage its expanded operations; Spirit's ability and willingness to maintain its qualification as a REIT under the Internal Revenue Code of 1986, as amended; the impact on Spirit's business and those of its tenants from epidemics, pandemics or other outbreaks of illness, disease or virus; and other risks inherent in the real estate business, including tenant defaults, potential liability relating to environmental matters, illiquidity of real estate investments and potential damages from natural disasters discussed in Spirit's most recent filings with the Securities and Exchange Commission ("SEC"), including its Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q. You are cautioned not to place undue reliance on forward-looking statements which are based on information that was available, and speak only, as of the date on which they were made. While forward-looking statements reflect Spirit's good faith beliefs, they are not guarantees of future performance. Spirit expressly disclaims any responsibility to update or revise forward-looking statements whether as a result of new information, future events or otherwise, except as required by law. (SRC:ER) Page | 3 SPIRIT REALTY CAPITAL, INC. Reconciliation of Non-GAAP Financial Measures (In Thousands, Except Share and Per Share Data) (Unaudited) NOTICE REGARDING NON-GAAP FINANCIAL MEASURES In addition to U.S. GAAP financial measures, this press release and the referenced supplemental investor presentation and related addenda contain and may refer to certain non-GAAP financial measures. These non-GAAP financial measures are in addition to, not a substitute for or superior to, measures of financial performance prepared in accordance with GAAP. These non-GAAP financial measures should not be considered replacements for, and should be read together with, the most comparable GAAP financial measures. Definitions of non-GAAP financial measures, reconciliations to the most directly comparable GAAP financial measures and statements of why management believes these measures are useful to investors are included in the supplemental investor presentation, which can be found in the investor relations page of our website. FFO and AFFO Three Months EndedSeptember 30, 2023 2022 Net income attributable to common stockholders $ 35,881 $ 74,053 Portfolio depreciation and amortization 79,223 74,455 Portfolio impairments 19,258 1,571 Gain on disposition of assets (3,661 ) (23,302 ) FFO attributable to common stockholders $ 130,701 $ 126,777 Deal pursuit costs 342 470 Non-cash interest expense, excluding capitalized interest 3,357 2,495 Straight-line rent, net of uncollectible reserve (8,227 ) (10,875 ) Other amortization and non-cash charges (78 ) (475 ) Non-cash compensation expense 4,906 4,393 AFFO attributable to common stockholders $ 131,001 $ 122,785 Dividends declared to common stockholders $ 94,635 $ 92,595 Dividends declared as a percent of AFFO 72 % 75 % Net income per share of common stock - Basic $ 0.25 $ 0.54 Net income per share of common stock - Diluted $ 0.25 $ 0.54 FFO per share of common stock - Diluted (1) $ 0.92 $ 0.93 AFFO per share of common stock - Diluted (1) $ 0.93 $ 0.90 Weighted average shares of common stock outstanding - Basic 141,124,401 136,314,369 Weighted average shares of common stock outstanding - Diluted 141,149,865 136,314,369 1 Dividends paid and undistributed earnings allocated, if any, to unvested restricted stockholders are deducted from FFO and AFFO for the computation of the per share amounts. The following amounts were deducted: Three Months Ended September 30, 2023 2022 FFO $0.2 million $0.2 million AFFO $0.2 million $0.2 million Page | 4 SPIRIT REALTY CAPITAL, INC. Reconciliation of Non-GAAP Financial Measures (In Thousands) (Unaudited) Adjusted Debt, EBITDAre and Adjusted EBITDAre Adjusted Debt September 30, 2023 2019 Credit Facility $ - Term loans, net 1,090,198 Senior Unsecured Notes, net 2,725,505 Mortgages payable, net 4,545 Total debt, net 3,820,248 Unamortized debt discount, net 8,573 Unamortized deferred financing costs 25,589 Cash and cash equivalents (134,166 ) 1031 Exchange proceeds (4,210 ) Adjusted Debt 3,716,034 Preferred Stock at liquidation value 172,500 Adjusted Debt + Preferred Stock $ 3,888,534 Annualized Adjusted EBITDAre Quarter Ended September 30, 2023 Net income $ 38,468 Interest 36,919 Depreciation and amortization 79,370 Income tax expense 235 Gain on disposition of assets (3,661 ) Portfolio impairments 19,258 EBITDAre 170,589 Adjustments to revenue producing acquisitions and dispositions 777 Deal pursuit costs 342 Non-cash compensation expense 4,906 Adjusted EBITDAre 176,614 Adjustments related to straight-line rent (1) 1,356 Other adjustments for Annualized EBITDAre(2) (915 ) Annualized Adjusted EBITDAre $ 708,220 Total debt, net / Annualized net income(3) 24.8 x Adjusted Debt / Annualized Adjusted EBITDAre 5.2 x Adjusted Debt + Preferred / Annualized Adjusted EBITDAre 5.5 x 1 Adjustment relates to current period amounts deemed not probable of collection related to straight-line rent recognized in prior periods. 2 Adjustment is comprised of current period recoveries related to prior period rent deemed not probable of collection, prior period rent and prior period property costs recognized in the current period, and certain other income where annualization would not be appropriate. 3 Represents net income for the three months ended September 30, 2023 annualized. Page | 5 Attachments Disclaimer Spirit Realty Capital Inc.published this content on02 November 2023and is solely responsible for the information contained therein. Distributed byPublic, unedited and unaltered, on02 November 2023 10:10:14 UTC. |
2024-11-02 | Marketscreener.com | Regency Centers Reports Third Quarter 2023 Results | JACKSONVILLE, Fla., Nov. 02, 2023 (GLOBE NEWSWIRE) -- Regency Centers Corporation (“Regency” or the “Company”) (Nasdaq: REG) today reported financial and operating results for the period ended September 30, 2023 and provided updated 2023 earnings guidance. For the three months ended September 30, 2023 and 2022, Net Income was $0.50 per diluted share and $0.51 per diluted share, respectively. Third Quarter 2023 Highlights Subsequent Highlights “Our strong results in the third quarter were supported by continued positive momentum in our business, including robust tenant demand and further progress building our value creation pipeline,” said Lisa Palmer, President and Chief Executive Officer. “Our integration with Urstadt Biddle is progressing successfully, we acquired two additional shopping centers, and we raised our dividend once again. With a high-quality portfolio of grocery-anchored centers in top trade areas, a sector-leading balance sheet and an exceptional team, Regency remains well positioned in today’s environment.” Financial Results Net Income Nareit FFO Core Operating Earnings Portfolio Performance Same Property NOI Occupancy Leasing Activity Capital Allocation and Balance Sheet Developments and Redevelopments Property Transactions Urstadt Biddle Merger Balance Sheet Common and Preferred Dividends 2023 Guidance Regency Centers has updated its 2023 guidance, as summarized in the table below. Please refer to the Company’s third quarter 2023 ‘Earnings Presentation’ and ‘Quarterly Supplemental’ for additional detail. All materials are posted on the Company’s website atinvestors.regencycenters.com. Note: With the exception of per share data, figures above represent 100% of Regency's consolidated entities and its pro-rata share of unconsolidated co-investment partnerships. (1) Core Operating Earnings excludes certain non-cash items, including straight-line rents, above/below market rent amortization, debt and derivative mark-to-market amortization, as well as transaction related income/expenses and debt extinguishment charges.(2) Represents the collection of receivables in the Same Property portfolio reserved in 2020 and 2021; included in Uncollectible Lease Income.(3) Includes above and below market rent amortization, straight-line rents, and debt and derivative mark-to-market amortization.(4) Represents 'General & administrative, net' before gains or losses on deferred compensation plan, as reported on supplemental pages 5 and 7 and calculated on a pro rata basis.(5) Excludes debt and derivative mark-to-market amortization; included in Certain non-cash items. Conference Call Information To discuss Regency’s third quarter results and provide further business updates, management will host a conference call on Friday, November 3rdat 11:00 a.m. ET. Dial-in and webcast information is below. Replay:Webcast Archive –Investor Relationspage underEvents & Webcasts About Regency Centers Corporation (Nasdaq: REG) Regency Centers is a preeminent national owner, operator, and developer of shopping centers located in suburban trade areas with compelling demographics. Our portfolio includes thriving properties merchandised with highly productive grocers, restaurants, service providers, and best-in-class retailers that connect to their neighborhoods, communities, and customers. Operating as a fully integrated real estate company, Regency Centers is a qualified real estate investment trust (REIT) that is self-administered, self-managed, and an S&P 500 Index member. For more information, please visitRegencyCenters.com. Reconciliation of Net Income Attributable to Common Shareholders to Nareit FFO and Core Operating Earnings –Actual (in thousands, except per share amounts) (1)Includes Regency's consolidated entities and its pro-rata share of unconsolidated co-investment partnerships, net of pro-rata share attributable to noncontrolling interests. Same Property NOI is a key non-GAAP measure used by management in evaluating the operating performance of Regency’s properties. The Company provides a reconciliation of Net Income Attributable to Common Shareholders to pro-rata Same Property NOI. Reconciliation of Net Income Attributable to Common Shareholders to Pro-Rata Same Property NOI -Actual (in thousands) (1)Includes straight-line rental income and expense, net of reserves, above and below market rent amortization, other fees, and noncontrolling interests.(2)Includes non-NOI expenses incurred at our unconsolidated real estate partnerships, such as, but not limited to, straight-line rental income, above and below market rent amortization, depreciation and amortization, interest expense, and real estate gains and impairments.(3)Includes revenues and expenses attributable to Non-Same Property, Projects in Development, corporate activities, and noncontrolling interests. Reported results are preliminary and not final until the filing of the Company’s Form 10-Q with the SEC and, therefore, remain subject to adjustment. The Company has published forward-looking statements and additional financial information in its third quarter 2023 supplemental package that may help investors estimate earnings. A copy of the Company’s third quarter 2023 supplemental package will be available on the Company's website atinvestors.regencycenters.comor by written request to: Investor Relations, Regency Centers Corporation, One Independent Drive, Suite 114, Jacksonville, Florida, 32202. The supplemental package contains more detailed financial and property results including financial statements, an outstanding debt summary, acquisition and development activity, investments in partnerships, information pertaining to securities issued other than common stock, property details, a significant tenant rent report and a lease expiration table in addition to earnings and valuation guidance assumptions. The information provided in the supplemental package is unaudited and includes non-GAAP measures, and there can be no assurance that the information will not vary from the final information in the Company’s Form 10-Q for the period ended September 30, 2023. Regency may, but assumes no obligation to, update information in the supplemental package from time to time. Non-GAAP Disclosure We believe these non-GAAP measures provide useful information to our Board of Directors, management and investors regarding certain trends relating to our financial condition and results of operations. Our management uses these non-GAAP measures to compare our performance to that of prior periods for trend analyses, purposes of determining management incentive compensation and budgeting, forecasting and planning purposes. We do not consider non-GAAP measures an alternative to financial measures determined in accordance with GAAP, rather they supplement GAAP measures by providing additional information we believe to be useful to our shareholders. The principal limitation of these non-GAAP financial measures is they may exclude significant expense and income items that are required by GAAP to be recognized in our consolidated financial statements. In addition, they reflect the exercise of management’s judgment about which expense and income items are excluded or included in determining these non-GAAP financial measures. In order to compensate for these limitations, reconciliations of the non-GAAP financial measures we use to their most directly comparable GAAP measures are provided. Non-GAAP financial measures should not be relied upon in evaluating the financial condition, results of operations or future prospects of the Company. Nareit FFO is a commonly used measure of REIT performance, which the National Association of Real Estate Investment Trusts (“Nareit”) defines as net income, computed in accordance with GAAP, excluding gains on sale and impairments of real estate, net of tax, plus depreciation and amortization, and after adjustments for unconsolidated partnerships and joint ventures. Regency computes Nareit FFO for all periods presented in accordance with Nareit's definition. Since Nareit FFO excludes depreciation and amortization and gains on sales and impairments of real estate, it provides a performance measure that, when compared year over year, reflects the impact on operations from trends in percent leased, rental rates, operating costs, acquisition and development activities, and financing costs. This provides a perspective of the Company’s financial performance not immediately apparent from net income determined in accordance with GAAP. Thus, Nareit FFO is a supplemental non-GAAP financial measure of the Company's operating performance, which does not represent cash generated from operating activities in accordance with GAAP; and, therefore, should not be considered a substitute measure of cash flows from operations. The Company provides a reconciliation of Net Income Attributable to Common Shareholders to Nareit FFO. Core Operating Earnings is an additional performance measure that excludes from Nareit FFO: (i) transaction related income or expenses; (ii) gains or losses from the early extinguishment of debt; (iii) certain non-cash components of earnings derived from above and below market rent amortization, straight-line rents, and amortization of mark-to-market of debt adjustments; and (iv) other amounts as they occur. The Company provides a reconciliation of Net Income to Nareit FFO to Core Operating Earnings. Forward-Looking Statements Certain statements in this document regarding anticipated financial, business, legal or other outcomes including business and market conditions, outlook and other similar statements relating to Regency’s future events, developments, or financial or operational performance or results such as our 2023 Guidance, are “forward-looking statements” made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. These forward-looking statements are identified by the use of words such as “may,” “will,” “could,” “should,” “would,” “expect,” “estimate,” “believe,” “intend,” “forecast,” “project,” “plan,” “anticipate,” “guidance,” and other similar language. However, the absence of these or similar words or expressions does not mean a statement is not forward-looking. While we believe these forward-looking statements are reasonable when made, forward-looking statements are not guarantees of future performance or events and undue reliance should not be placed on these statements. Although we believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, we can give no assurance these expectations will be attained, and it is possible actual results may differ materially from those indicated by these forward-looking statements due to a variety of risks and uncertainties. Our operations are subject to a number of risks and uncertainties including, but not limited to, those risk factors described in our Securities and Exchange Commission (“SEC”) filings, our Annual Report on Form 10-K for the year ended December 31, 2022 (“2022 Form 10-K”) under Item 1A. “Risk Factors”, on Form 10-Q for the three months ended March 31, 2023 under Part II, Item 1A. “Risk Factors” and our Form S-4 Registration Statement, filed with the SEC on July 10, 2023, in connection with our acquisition of Urstadt Biddle, which contains, without limitation, additional risk factors in a section of the prospectus entitled “Risks Relating to Regency After Completion of the Mergers”. When considering an investment in our securities, you should carefully read and consider these risks, together with all other information in our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and our other filings and submissions to the SEC. If any of the events described in the risk factors actually occur, our business, financial condition or operating results, as well as the market price of our securities, could be materially adversely affected. Forward-looking statements are only as of the date they are made, and Regency undertakes no duty to update its forward-looking statements, whether as a result of new information, future events or developments or otherwise, except as to the extent required by law. These risks and events include, without limitation: Risk Factors Related to the Company’s Acquisition of Urstadt Biddle Combining our business with Urstadt Biddle’s may be more difficult, costly or time-consuming than expected and we may fail to realize the anticipated benefits of the acquisition, which may adversely affect our business results and negatively affect the market price of our securities. Risk Factors Related to the Current Economic Environment Continued rising interest rates in the current economic environment may adversely impact our cost to borrow, real estate valuation, and stock price. Current economic challenges, including the potential for recession, may adversely impact our tenants and our business. Unfavorable developments affecting the banking and financial services industry could adversely affect our business, liquidity and financial condition, and overall results of operations. Additionally, macroeconomic and geopolitical risks, including the current wars in Ukraine, and involving Israel and Gaza, create challenges that may exacerbate current market and economic conditions in the United States. Risk Factors Related to Pandemics or other Health Crises Pandemics or other health crises, such as the COVID-19 pandemic, may adversely affect our tenants’ financial condition, the profitability of our properties, and our access to the capital markets and could have a material adverse effect on our business, results of operations, cash flows and financial condition. Risk Factors Related to Operating Retail-Based Shopping Centers Economic and market conditions may adversely affect the retail industry and consequently reduce our revenues and cash flow and increase our operating expenses. Shifts in retail trends, sales, and delivery methods between brick-and-mortar stores, e-commerce, home delivery, and curbside pick-up may adversely impact our revenues, results of operations, and cash flows. Changing economic and retail market conditions in geographic areas where our properties are concentrated may reduce our revenues and cash flow. Our success depends on the continued presence and success of our “anchor” tenants. A percentage of our revenues are derived from “local” tenants and our net income may be adversely impacted if these tenants are not successful, or if the demand for the types or mix of tenants significantly change. We may be unable to collect balances due from tenants in bankruptcy. Many of our costs and expenses associated with operating our properties may remain constant or increase, even if our lease income decreases. Compliance with the Americans with Disabilities Act and other building, fire, and safety and regulations may have a material negative effect on us. Risk Factors Related to Real Estate Investments Our real estate assets may decline in value and be subject to impairment losses which may reduce our net income. We face risks associated with development, redevelopment and expansion of properties. We face risks associated with the development of mixed-use commercial properties. We face risks associated with the acquisition of properties. We may be unable to sell properties when desired because of market conditions. Changes in tax laws could impact our acquisition or disposition of real estate. Risk Factors Related to the Environment Affecting Our Properties Climate change may adversely impact our properties directly and may lead to additional compliance obligations and costs as well as additional taxes and fees. Geographic concentration of our properties makes our business more vulnerable to natural disasters, severe weather conditions and climate change. Costs of environmental remediation may adversely impact our financial performance and reduce our cash flow. Risk Factors Related to Corporate Matters An increased focus on metrics and reporting relating to environmental, social, and governance (“ESG”) factors may impose additional costs and expose us to new risks. An uninsured loss or a loss that exceeds the insurance coverage on our properties may subject us to loss of capital and revenue on those properties. Failure to attract and retain key personnel may adversely affect our business and operations. The unauthorized access, use, theft or destruction of tenant or employee personal, financial or other data or of Regency’s proprietary or confidential information stored in our information systems or by third parties on our behalf could impact our reputation and brand and expose us to potential liability and loss of revenues. Risk Factors Related to Our Partnerships and Joint Ventures We do not have voting control over all of the properties owned in our co-investment partnerships and joint ventures, so we are unable to ensure that our objectives will be pursued. The termination of our partnerships may adversely affect our cash flow, operating results, and our ability to make distributions to stock and unit holders. Risk Factors Related to Funding Strategies and Capital Structure Our ability to sell properties and fund acquisitions and developments may be adversely impacted by higher market capitalization rates and lower NOI at our properties which may dilute earnings. We depend on external sources of capital, which may not be available in the future on favorable terms or at all. Our debt financing may adversely affect our business and financial condition. Covenants in our debt agreements may restrict our operating activities and adversely affect our financial condition. Increases in interest rates would cause our borrowing costs to rise and negatively impact our results of operations. Hedging activity may expose us to risks, including the risks that a counterparty will not perform and that the hedge will not yield the economic benefits we anticipate, which may adversely affect us. Risk Factors Related to the Market Price for Our Securities Changes in economic and market conditions may adversely affect the market price of our securities. There is no assurance that we will continue to pay dividends at current or historical rates. Risk Factors Related to the Company’s Qualification as a REIT If the Company fails to qualify as a REIT for federal income tax purposes, it would be subject to federal income tax at regular corporate rates. Dividends paid by REITs generally do not qualify for reduced tax rates. Certain foreign shareholders may be subject to U.S. federal income tax on gain recognized on a disposition of our common stock if we do not qualify as a “domestically controlled” REIT. Legislative or other actions affecting REITs may have a negative effect on us or our investors. Complying with REIT requirements may limit our ability to hedge effectively and may cause us to incur tax liabilities. Risk Factors Related to the Company’s Common Stock Restrictions on the ownership of the Company’s capital stock to preserve its REIT status may delay or prevent a change in control. The issuance of the Company's capital stock may delay or prevent a change in control. Ownership in the Company may be diluted in the future. Christy McElroy904 598 7616ChristyMcElroy@regencycenters.com |
2024-11-02 | GlobeNewswire | Regency Centers Reports Third Quarter 2023 Results | JACKSONVILLE, Fla., Nov. 02, 2023 (GLOBE NEWSWIRE) -- Regency Centers Corporation (“Regency” or the “Company”) (Nasdaq: REG) today reported financial and operating results for the period ended September 30, 2023 and provided updated 2023 earnings guidance. For the three months ended September 30, 2023 and 2022, Net Income was $0.50 per diluted share and $0.51 per diluted share, respectively. Third Quarter 2023 Highlights Subsequent Highlights “Our strong results in the third quarter were supported by continued positive momentum in our business, including robust tenant demand and further progress building our value creation pipeline,” said Lisa Palmer, President and Chief Executive Officer. “Our integration with Urstadt Biddle is progressing successfully, we acquired two additional shopping centers, and we raised our dividend once again. With a high-quality portfolio of grocery-anchored centers in top trade areas, a sector-leading balance sheet and an exceptional team, Regency remains well positioned in today’s environment.” Financial Results Net Income Nareit FFO Core Operating Earnings Portfolio Performance Same Property NOI Occupancy Leasing Activity Capital Allocation and Balance Sheet Developments and Redevelopments Property Transactions Urstadt Biddle Merger Balance Sheet Common and Preferred Dividends 2023 Guidance Regency Centers has updated its 2023 guidance, as summarized in the table below. Please refer to the Company’s third quarter 2023 ‘Earnings Presentation’ and ‘Quarterly Supplemental’ for additional detail. All materials are posted on the Company’s website atinvestors.regencycenters.com. Note: With the exception of per share data, figures above represent 100% of Regency's consolidated entities and its pro-rata share of unconsolidated co-investment partnerships. (1) Core Operating Earnings excludes certain non-cash items, including straight-line rents, above/below market rent amortization, debt and derivative mark-to-market amortization, as well as transaction related income/expenses and debt extinguishment charges.(2) Represents the collection of receivables in the Same Property portfolio reserved in 2020 and 2021; included in Uncollectible Lease Income.(3) Includes above and below market rent amortization, straight-line rents, and debt and derivative mark-to-market amortization.(4) Represents 'General & administrative, net' before gains or losses on deferred compensation plan, as reported on supplemental pages 5 and 7 and calculated on a pro rata basis.(5) Excludes debt and derivative mark-to-market amortization; included in Certain non-cash items. Conference Call Information To discuss Regency’s third quarter results and provide further business updates, management will host a conference call on Friday, November 3rdat 11:00 a.m. ET. Dial-in and webcast information is below. Replay:Webcast Archive –Investor Relationspage underEvents & Webcasts About Regency Centers Corporation (Nasdaq: REG) Regency Centers is a preeminent national owner, operator, and developer of shopping centers located in suburban trade areas with compelling demographics. Our portfolio includes thriving properties merchandised with highly productive grocers, restaurants, service providers, and best-in-class retailers that connect to their neighborhoods, communities, and customers. Operating as a fully integrated real estate company, Regency Centers is a qualified real estate investment trust (REIT) that is self-administered, self-managed, and an S&P 500 Index member. For more information, please visitRegencyCenters.com. Reconciliation of Net Income Attributable to Common Shareholders to Nareit FFO and Core Operating Earnings –Actual (in thousands, except per share amounts) (1)Includes Regency's consolidated entities and its pro-rata share of unconsolidated co-investment partnerships, net of pro-rata share attributable to noncontrolling interests. Same Property NOI is a key non-GAAP measure used by management in evaluating the operating performance of Regency’s properties. The Company provides a reconciliation of Net Income Attributable to Common Shareholders to pro-rata Same Property NOI. Reconciliation of Net Income Attributable to Common Shareholders to Pro-Rata Same Property NOI -Actual (in thousands) (1)Includes straight-line rental income and expense, net of reserves, above and below market rent amortization, other fees, and noncontrolling interests.(2)Includes non-NOI expenses incurred at our unconsolidated real estate partnerships, such as, but not limited to, straight-line rental income, above and below market rent amortization, depreciation and amortization, interest expense, and real estate gains and impairments.(3)Includes revenues and expenses attributable to Non-Same Property, Projects in Development, corporate activities, and noncontrolling interests. Reported results are preliminary and not final until the filing of the Company’s Form 10-Q with the SEC and, therefore, remain subject to adjustment. The Company has published forward-looking statements and additional financial information in its third quarter 2023 supplemental package that may help investors estimate earnings. A copy of the Company’s third quarter 2023 supplemental package will be available on the Company's website atinvestors.regencycenters.comor by written request to: Investor Relations, Regency Centers Corporation, One Independent Drive, Suite 114, Jacksonville, Florida, 32202. The supplemental package contains more detailed financial and property results including financial statements, an outstanding debt summary, acquisition and development activity, investments in partnerships, information pertaining to securities issued other than common stock, property details, a significant tenant rent report and a lease expiration table in addition to earnings and valuation guidance assumptions. The information provided in the supplemental package is unaudited and includes non-GAAP measures, and there can be no assurance that the information will not vary from the final information in the Company’s Form 10-Q for the period ended September 30, 2023. Regency may, but assumes no obligation to, update information in the supplemental package from time to time. Non-GAAP Disclosure We believe these non-GAAP measures provide useful information to our Board of Directors, management and investors regarding certain trends relating to our financial condition and results of operations. Our management uses these non-GAAP measures to compare our performance to that of prior periods for trend analyses, purposes of determining management incentive compensation and budgeting, forecasting and planning purposes. We do not consider non-GAAP measures an alternative to financial measures determined in accordance with GAAP, rather they supplement GAAP measures by providing additional information we believe to be useful to our shareholders. The principal limitation of these non-GAAP financial measures is they may exclude significant expense and income items that are required by GAAP to be recognized in our consolidated financial statements. In addition, they reflect the exercise of management’s judgment about which expense and income items are excluded or included in determining these non-GAAP financial measures. In order to compensate for these limitations, reconciliations of the non-GAAP financial measures we use to their most directly comparable GAAP measures are provided. Non-GAAP financial measures should not be relied upon in evaluating the financial condition, results of operations or future prospects of the Company. Nareit FFO is a commonly used measure of REIT performance, which the National Association of Real Estate Investment Trusts (“Nareit”) defines as net income, computed in accordance with GAAP, excluding gains on sale and impairments of real estate, net of tax, plus depreciation and amortization, and after adjustments for unconsolidated partnerships and joint ventures. Regency computes Nareit FFO for all periods presented in accordance with Nareit's definition. Since Nareit FFO excludes depreciation and amortization and gains on sales and impairments of real estate, it provides a performance measure that, when compared year over year, reflects the impact on operations from trends in percent leased, rental rates, operating costs, acquisition and development activities, and financing costs. This provides a perspective of the Company’s financial performance not immediately apparent from net income determined in accordance with GAAP. Thus, Nareit FFO is a supplemental non-GAAP financial measure of the Company's operating performance, which does not represent cash generated from operating activities in accordance with GAAP; and, therefore, should not be considered a substitute measure of cash flows from operations. The Company provides a reconciliation of Net Income Attributable to Common Shareholders to Nareit FFO. Core Operating Earnings is an additional performance measure that excludes from Nareit FFO: (i) transaction related income or expenses; (ii) gains or losses from the early extinguishment of debt; (iii) certain non-cash components of earnings derived from above and below market rent amortization, straight-line rents, and amortization of mark-to-market of debt adjustments; and (iv) other amounts as they occur. The Company provides a reconciliation of Net Income to Nareit FFO to Core Operating Earnings. Forward-Looking Statements Certain statements in this document regarding anticipated financial, business, legal or other outcomes including business and market conditions, outlook and other similar statements relating to Regency’s future events, developments, or financial or operational performance or results such as our 2023 Guidance, are “forward-looking statements” made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. These forward-looking statements are identified by the use of words such as “may,” “will,” “could,” “should,” “would,” “expect,” “estimate,” “believe,” “intend,” “forecast,” “project,” “plan,” “anticipate,” “guidance,” and other similar language. However, the absence of these or similar words or expressions does not mean a statement is not forward-looking. While we believe these forward-looking statements are reasonable when made, forward-looking statements are not guarantees of future performance or events and undue reliance should not be placed on these statements. Although we believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, we can give no assurance these expectations will be attained, and it is possible actual results may differ materially from those indicated by these forward-looking statements due to a variety of risks and uncertainties. Our operations are subject to a number of risks and uncertainties including, but not limited to, those risk factors described in our Securities and Exchange Commission (“SEC”) filings, our Annual Report on Form 10-K for the year ended December 31, 2022 (“2022 Form 10-K”) under Item 1A. “Risk Factors”, on Form 10-Q for the three months ended March 31, 2023 under Part II, Item 1A. “Risk Factors” and our Form S-4 Registration Statement, filed with the SEC on July 10, 2023, in connection with our acquisition of Urstadt Biddle, which contains, without limitation, additional risk factors in a section of the prospectus entitled “Risks Relating to Regency After Completion of the Mergers”. When considering an investment in our securities, you should carefully read and consider these risks, together with all other information in our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and our other filings and submissions to the SEC. If any of the events described in the risk factors actually occur, our business, financial condition or operating results, as well as the market price of our securities, could be materially adversely affected. Forward-looking statements are only as of the date they are made, and Regency undertakes no duty to update its forward-looking statements, whether as a result of new information, future events or developments or otherwise, except as to the extent required by law. These risks and events include, without limitation: Risk Factors Related to the Company’s Acquisition of Urstadt Biddle Combining our business with Urstadt Biddle’s may be more difficult, costly or time-consuming than expected and we may fail to realize the anticipated benefits of the acquisition, which may adversely affect our business results and negatively affect the market price of our securities. Risk Factors Related to the Current Economic Environment Continued rising interest rates in the current economic environment may adversely impact our cost to borrow, real estate valuation, and stock price. Current economic challenges, including the potential for recession, may adversely impact our tenants and our business. Unfavorable developments affecting the banking and financial services industry could adversely affect our business, liquidity and financial condition, and overall results of operations. Additionally, macroeconomic and geopolitical risks, including the current wars in Ukraine, and involving Israel and Gaza, create challenges that may exacerbate current market and economic conditions in the United States. Risk Factors Related to Pandemics or other Health Crises Pandemics or other health crises, such as the COVID-19 pandemic, may adversely affect our tenants’ financial condition, the profitability of our properties, and our access to the capital markets and could have a material adverse effect on our business, results of operations, cash flows and financial condition. Risk Factors Related to Operating Retail-Based Shopping Centers Economic and market conditions may adversely affect the retail industry and consequently reduce our revenues and cash flow and increase our operating expenses. Shifts in retail trends, sales, and delivery methods between brick-and-mortar stores, e-commerce, home delivery, and curbside pick-up may adversely impact our revenues, results of operations, and cash flows. Changing economic and retail market conditions in geographic areas where our properties are concentrated may reduce our revenues and cash flow. Our success depends on the continued presence and success of our “anchor” tenants. A percentage of our revenues are derived from “local” tenants and our net income may be adversely impacted if these tenants are not successful, or if the demand for the types or mix of tenants significantly change. We may be unable to collect balances due from tenants in bankruptcy. Many of our costs and expenses associated with operating our properties may remain constant or increase, even if our lease income decreases. Compliance with the Americans with Disabilities Act and other building, fire, and safety and regulations may have a material negative effect on us. Risk Factors Related to Real Estate Investments Our real estate assets may decline in value and be subject to impairment losses which may reduce our net income. We face risks associated with development, redevelopment and expansion of properties. We face risks associated with the development of mixed-use commercial properties. We face risks associated with the acquisition of properties. We may be unable to sell properties when desired because of market conditions. Changes in tax laws could impact our acquisition or disposition of real estate. Risk Factors Related to the Environment Affecting Our Properties Climate change may adversely impact our properties directly and may lead to additional compliance obligations and costs as well as additional taxes and fees. Geographic concentration of our properties makes our business more vulnerable to natural disasters, severe weather conditions and climate change. Costs of environmental remediation may adversely impact our financial performance and reduce our cash flow. Risk Factors Related to Corporate Matters An increased focus on metrics and reporting relating to environmental, social, and governance (“ESG”) factors may impose additional costs and expose us to new risks. An uninsured loss or a loss that exceeds the insurance coverage on our properties may subject us to loss of capital and revenue on those properties. Failure to attract and retain key personnel may adversely affect our business and operations. The unauthorized access, use, theft or destruction of tenant or employee personal, financial or other data or of Regency’s proprietary or confidential information stored in our information systems or by third parties on our behalf could impact our reputation and brand and expose us to potential liability and loss of revenues. Risk Factors Related to Our Partnerships and Joint Ventures We do not have voting control over all of the properties owned in our co-investment partnerships and joint ventures, so we are unable to ensure that our objectives will be pursued. The termination of our partnerships may adversely affect our cash flow, operating results, and our ability to make distributions to stock and unit holders. Risk Factors Related to Funding Strategies and Capital Structure Our ability to sell properties and fund acquisitions and developments may be adversely impacted by higher market capitalization rates and lower NOI at our properties which may dilute earnings. We depend on external sources of capital, which may not be available in the future on favorable terms or at all. Our debt financing may adversely affect our business and financial condition. Covenants in our debt agreements may restrict our operating activities and adversely affect our financial condition. Increases in interest rates would cause our borrowing costs to rise and negatively impact our results of operations. Hedging activity may expose us to risks, including the risks that a counterparty will not perform and that the hedge will not yield the economic benefits we anticipate, which may adversely affect us. Risk Factors Related to the Market Price for Our Securities Changes in economic and market conditions may adversely affect the market price of our securities. There is no assurance that we will continue to pay dividends at current or historical rates. Risk Factors Related to the Company’s Qualification as a REIT If the Company fails to qualify as a REIT for federal income tax purposes, it would be subject to federal income tax at regular corporate rates. Dividends paid by REITs generally do not qualify for reduced tax rates. Certain foreign shareholders may be subject to U.S. federal income tax on gain recognized on a disposition of our common stock if we do not qualify as a “domestically controlled” REIT. Legislative or other actions affecting REITs may have a negative effect on us or our investors. Complying with REIT requirements may limit our ability to hedge effectively and may cause us to incur tax liabilities. Risk Factors Related to the Company’s Common Stock Restrictions on the ownership of the Company’s capital stock to preserve its REIT status may delay or prevent a change in control. The issuance of the Company's capital stock may delay or prevent a change in control. Ownership in the Company may be diluted in the future. Christy McElroy904 598 7616ChristyMcElroy@regencycenters.com |
2024-11-02 | ETF Daily News | DA Davidson Weighs in on California BanCorp’s FY2024 Earnings (NASDAQ:CALB) | California BanCorp (NASDAQ:CALB–Free Report) – Analysts at DA Davidson decreased their FY2024 earnings per share (EPS) estimates for California BanCorp in a research note issued on Tuesday, October 31st. DA Davidson analyst G. Tenner now forecasts that the company will earn $2.45 per share for the year, down from their prior estimate of $2.51. The consensus estimate for California BanCorp’s current full-year earnings is $2.53 per share. A number of other analysts have also recently commented on the stock. Keefe, Bruyette & Woods upgraded shares of California BanCorp from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $20.00 to $25.00 in a research note on Wednesday, August 2nd. TheStreet upgraded shares of California BanCorp from a “c+” rating to a “b-” rating in a research note on Monday, October 9th. Finally, Piper Sandler upped their target price on California BanCorp from $24.00 to $25.00 and gave the company an “overweight” rating in a research report on Wednesday. Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverCheck Out Our Latest Research Report on California BanCorp Shares ofCALB stockopened at $20.25 on Thursday. California BanCorp has a fifty-two week low of $12.78 and a fifty-two week high of $26.17. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a market capitalization of $169.70 million, a price-to-earnings ratio of 7.13 and a beta of 0.98. The stock’s 50-day simple moving average is $19.67 and its 200-day simple moving average is $17.35. Institutional investors have recently bought and sold shares of the business. Alliancebernstein L.P. increased its stake in shares of California BanCorp by 14.8% in the second quarter. Alliancebernstein L.P. now owns 812,800 shares of the company’s stock worth $12,192,000 after acquiring an additional 104,737 shares during the period. Banc Funds Co. LLC raised its stake in shares of California BanCorp by 1.6% during the 2nd quarter. Banc Funds Co. LLC now owns 609,709 shares of the company’s stock valued at $9,146,000 after buying an additional 9,623 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of California BanCorp by 1.1% during the 1st quarter. The Manufacturers Life Insurance Company now owns 522,082 shares of the company’s stock valued at $12,013,000 after buying an additional 5,826 shares during the last quarter. Vanguard Group Inc. grew its holdings in California BanCorp by 0.6% during the first quarter. Vanguard Group Inc. now owns 326,107 shares of the company’s stock worth $7,503,000 after acquiring an additional 2,103 shares during the period. Finally, Wasatch Advisors Inc. raised its position in California BanCorp by 2,486.9% during the first quarter. Wasatch Advisors Inc. now owns 312,828 shares of the company’s stock valued at $7,198,000 after acquiring an additional 300,735 shares in the last quarter. 52.88% of the stock is owned by hedge funds and other institutional investors. (Get Free Report) California BanCorp operates as the bank holding company for California Bank of Commerce that provides commercial banking services in California. It accepts various deposit products, including commercial checking, savings, and money market accounts, as well as certificates of deposit. The company offers asset-based lending loans; standby letters of credit; construction and development loans; real estate loans, such as commercial real estate loans and other loans; small business administration (SBA) loans, including SBA 7(a) and SBA 504 loans; consumer loans, such as secured and unsecured installment loans, and revolving lines of credit; and commercial and industrial loans, including term loans, working capital, accounts receivable and inventory financing, and other business loans to the dental and veterinary industries, contractors, and emerging companies. |
2024-11-02 | ETF Daily News | Banco Bilbao Vizcaya Argentaria S.A. Purchases 696,271 Shares of Banco Bradesco S.A. (NYSE:BBD) | Banco Bilbao Vizcaya Argentaria S.A. raised its position in Banco Bradesco S.A. (NYSE:BBD–Free Report) by 76.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,604,417 shares of the bank’s stock after buying an additional 696,271 shares during the quarter. Banco Bilbao Vizcaya Argentaria S.A.’s holdings in Banco Bradesco were worth $5,543,000 at the end of the most recent quarter. Several other hedge funds have also recently bought and sold shares of BBD. Causeway Capital Management LLC grew its holdings in shares of Banco Bradesco by 537.7% during the 1st quarter. Causeway Capital Management LLC now owns 55,569,677 shares of the bank’s stock valued at $145,593,000 after purchasing an additional 46,855,765 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Banco Bradesco by 186.5% during the 1st quarter. Wellington Management Group LLP now owns 53,049,024 shares of the bank’s stock valued at $138,988,000 after purchasing an additional 34,535,929 shares during the last quarter. Perpetual Ltd bought a new stake in shares of Banco Bradesco during the 1st quarter valued at approximately $73,056,000. BlackRock Inc. grew its holdings in shares of Banco Bradesco by 48.4% during the 1st quarter. BlackRock Inc. now owns 72,108,265 shares of the bank’s stock valued at $188,924,000 after purchasing an additional 23,517,670 shares during the last quarter. Finally, Harding Loevner LP grew its holdings in shares of Banco Bradesco by 144.1% during the 1st quarter. Harding Loevner LP now owns 24,233,151 shares of the bank’s stock valued at $63,491,000 after purchasing an additional 14,304,108 shares during the last quarter. 1.84% of the stock is owned by institutional investors. Separately, Jefferies Financial Group assumed coverage on shares of Banco Bradesco in a report on Monday, October 16th. They set a “buy” rating and a $3.50 price target on the stock. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Banco Bradesco presently has an average rating of “Hold” and a consensus target price of $10.24. Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverView Our Latest Stock Report on Banco Bradesco BBDopened at $2.84 on Thursday. Banco Bradesco S.A. has a fifty-two week low of $2.34 and a fifty-two week high of $3.94. The company has a debt-to-equity ratio of 2.19, a current ratio of 0.70 and a quick ratio of 0.72. The firm has a market capitalization of $30.27 billion, a price-to-earnings ratio of 11.36, a PEG ratio of 0.55 and a beta of 0.77. The company’s 50 day moving average price is $2.92 and its two-hundred day moving average price is $3.12. Banco Bradesco (NYSE:BBD–Get Free Report) last posted its earnings results on Thursday, August 3rd. The bank reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.01). The business had revenue of $9.83 billion for the quarter, compared to the consensus estimate of $5.49 billion. Banco Bradesco had a return on equity of 9.53% and a net margin of 7.80%. As a group, research analysts predict that Banco Bradesco S.A. will post 0.36 earnings per share for the current year. The company also recently declared a monthly dividend, which will be paid on Monday, December 11th. Stockholders of record on Friday, November 3rd will be given a $0.0038 dividend. The ex-dividend date is Thursday, November 2nd. This represents a $0.05 dividend on an annualized basis and a dividend yield of 1.59%. Banco Bradesco’s dividend payout ratio (DPR) is currently 12.00%. (Free Report) Banco Bradesco SA, together with its subsidiaries, provides various banking products and services to individuals, corporates, and businesses in Brazil and internationally. The company operates through two segments, Banking and Insurance. It provides current, savings, click, and salary accounts; real estate credit, vehicle financing, payroll loans, mortgage loans, microcredit, leasing, and personal and installment credit; debit and business cards; financial and security services; consortium products; auto, personal accident, dental, travel, and life insurance; investment products; pension products; real estate and vehicle auctions; cash management, and foreign trade and exchange services; capitalization bonds; and internet banking services. Want to see what other hedge funds are holding BBD?Visit HoldingsChannel.comto get the latest 13F filings and insider trades for Banco Bradesco S.A. (NYSE:BBD–Free Report). |
2024-11-02 | The Times of India | Ahead of Market: 10 things that will decide D-Street action on Friday | iStock Indian equity indices advanced on Thursday, in tandem with global stocks, following the US Federal Reserve's less hawkish-than-expected stance on monetary policy. After two straight sessions of losses, the NSE Nifty 50 index settled 0.76% higher at 19,133, while the S&P BSE Sensex rose 0.77% to 64,081. Here's how analysts read the market pulse: "Nifty has formed a Doji candle on the daily chart, reflecting a state of indecision as a battle between the bulls and the bears unfolds. Downside support is apparent in the 19,000-18,900 range, with visible fresh put writing for the upcoming weekly expiry. Immediate resistance is situated at the 19,200 level, and a breakthrough at this point could trigger fresh short covering, potentially propelling the index towards 19,300-19,350," said Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities. Nagaraj Shetti, Technical Research Analyst at HDFC Securities, said, "The short-term uptrend trend status of Nifty remains intact and there is a possibility of Nifty moving towards 19200-19300 levels again in the coming sessions before consolidating again from the highs. Immediate support is placed around 19050-19000 levels. That said, here’s a look at what some key indicators are suggesting for Friday's action: US market Wall Street 's main stock indexes rallied on Thursday on hopes that the U.S. Federal Reserve had reached the end of its tightening campaign, while a raft of upbeat corporate updates added to the bullish mood. The Fed held interest rates steady on Wednesday as expected, and while Chair Jerome Powell left the door open to further tightening he also acknowledged the impact of a recent surge in bond yields on the economy. The comments, which were perceived to be dovish, sent U.S. Treasury yields tumbling, with the benchmark 10-year yield hitting near three-week lows. At 9:38 a.m. ET, the Dow Jones Industrial Average was up 307.02 points, or 0.92%, at 33,581.60, the S&P 500 was up 51.87 points, or 1.22%, at 4,289.73, and the Nasdaq Composite was up 172.71 points, or 1.32%, at 13,234.18. European shares European shares climbed over 1% on Thursday, led by rate-sensitive real estate and technology stocks, as investors bet on the possibility of an end to the U.S. monetary policy tightening after the Federal Reserve held interest rates steady. The pan-European STOXX 600 index gained 1.6% at 0930 GMT, touching a fresh two-week high. Tech View: High wave type candle Nifty on Thursday ended 144 points higher to form a high wave type candle pattern on the daily chart. The short-term uptrend trend status of Nifty remains intact and there is a possibility of Nifty moving towards 19200-19300 levels again in the coming sessions before consolidating again from the highs. Immediate support is placed around 19050-19000 levels, said Nagaraj Shetti of HDFC Securities. Stocks showing bullish bias Momentum indicator Moving Average Convergence Divergence ( MACD ) showed bullish trade on the counters of Vodafone Idea, NLC India, Oberoi Realty , Indian Oil Corporation , Vedanta, and Global Health among others. The MACD is known for signaling trend reversals in traded securities or indices. When the MACD crosses above the signal line, it gives a bullish signal, indicating that the price of the security may see an upward movement and vice versa. Stocks signaling weakness ahead The MACD showed bearish signs on the counters of IndusInd Bank , Abbott India , Star Health , Home First Finance , Prestige Estate , and Bajaj Auto among others. Bearish crossover on the MACD on these counters indicated that they have just begun their downward journey. Most active stocks in value terms HDFC Bank (Rs 3,329 crore), RIL (Rs 1,223 crore), ICICI Bank (Rs 895 crore), Tata Steel (Rs 846 crore), IndusInd Bank (Rs 661 crore), Bajaj Finance (Rs 640 crore), and SBI (Rs 636 crore) were among the most active stocks on NSE in value terms. Higher activity on a counter in value terms can help identify the counters with highest trading turnovers in the day. Most active stocks in volume terms Tata Steel (Shares traded: 7.2 crore), HDFC Bank (Shares traded: 2.2 crore), Power Grid (Shares traded: 1.3 crore), ONGC (Shares traded: 1.1 crore), SBI (Shares traded: 1.1 crore), Tata Motors (Shares traded: 99 lakh), and ICICI Bank (Shares traded: 97 crore) among others were the most traded stocks in the session on NSE. Stocks showing buying interest Shares of Vodafone Idea, REC, Power Finance Corporation , Macrotech Developers , Sonata Software , Oberoi Realty, and Global Health among others witnessed strong buying interest from market participants as they scaled their fresh 52-week highs, signaling bullish sentiment. Stocks seeing selling pressure Shares of Sumitomo Chemical , Aegis Logistics, Petronet LNG , Atul, Polyplex Corp, and IGL hit their 52-week lows, signaling bearish sentiment on the counters. Sentiment meter favours bulls Overall, market breadth favoured bulls as 2,269 stocks ended in the green, while 1,387 names settled in the red. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times) Connect with Experts - Wealth creation made easy Print Edition Friday, 03 Nov, 2023 Experience Your Economic Times Newspaper, The Digital Way! Read Complete Print Edition » Front Page Pure Politics Companies Economy & Companies Learn more about our print edition More WhatsAppening? Telcos Call Out Tech Cos over Biz SMSes An industry grouping representing India’s top three telcos has accused global consumer-technology majors, such as Microsoft and Amazon, of “presumably circumventing and bypassing the legal telecom route” by using WhatsApp and other unregulated platforms to send enterprise messages to customers, causing a likely ₹3,000-crore annual revenue loss to both the Centre and the service providers. Apple asked to Join CERT-In Probe into iPhone Hacking Bid The government has asked Apple to join a probe into the alleged state-sponsored hacking attempts on iPhones belonging to prominent Indians, including some members of the opposition in Parliament, according to S Krishnan, secretary, ministry of electronics and information technology. Go First Lessors Can Take Back Planes, Engines: DGCA to HC The Directorate General of Civil Aviation (DGCA) told the Delhi High Court Thursday that Go First’s leased aircraft and engines can be preregistered and returned to lessors, severely denting the bankrupt airline’s revival prospects. Read More News on indusind bank oberoi realty icici bank ahead of market market outlook stock market dalal street wall street nifty50 nifty technical analysis (What's moving Sensex and Nifty Track latest market news , stock tips and expert advice on ETMarkets . Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Download The Economic Times News App to get Daily Market Updates & Live Business News. 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2024-11-02 | The Times of India | ETMarkets Smart Talk: Motilal Oswal adding weight in healthcare, underweight on metals, energy, IT & utilities: Sneha Poddar | ETMarkets.com “We are adding weight in Healthcare while remaining UW in Metals, Energy, IT, and Utilities,” says Sneha Poddar , AVP Research, Broking & Distribution, Motilal Oswal Financial Services . In an interview with ETMarkets, Poddar said: “One needs to add quality names to their portfolio that have strong fundamentals with robust earnings outlook in order to tide over this volatility” Edited excerpts: A mixed October for markets in the middle of India's festive season. What is capping the upside is it geopolitical concerns or valuations? The onset of the festive season along with the ICC World Cup should have brought cheer to the market. However, the war that started between Israel-Hamas, has escalated further and is likely to spread to other nations in the Middle East. Unlock Leadership Excellence with a Range of CXO Courses Offering College Course Website Indian School of Business ISB Chief Technology Officer Visit IIM Lucknow IIML Chief Marketing Officer Programme Visit IIM Lucknow IIML Chief Executive Officer Programme Visit On the other hand, the US 10-year bond yield has spiked to a 16-year high of 5%, as the US Fed Chair continues with its hawkish statements and has hinted at more rate hikes in the upcoming meetings. On the domestic front, the Q2FY24 results have been mixed, further denting the investor sentiments. Thus, both global as well as domestic factors have resulted in a sharp correction in the broader mid and small-cap segments given the prevailing expensive valuations. Midcap and Smallcap have corrected around 5% and 2.5% respectively in October so far while Nifty fell by 2.5% during the same period. You Might Also Like: ETMarkets Smart Talk: Caution ahead! Small & midcap stocks can see correction and so can largecaps: Sahil Kapoor Even valuations of several sectors are at a premium to their long-period averages. Thus, in the midst of volatility in the near to medium term, sector rotation could continue. What is your take on the results which have come out recently? Any company/industry that surprised you? What is the general sense you are getting from the management commentary about future earnings? The Q2FY24 results so far have been mixed with muted revenue growth of single digits. However, the cool-off in raw material prices has led to expansion in EBITDA margin and improvement in overall profitability. Financials, auto, cement and consumer reported good results –with few misses, while weakness continued in the IT sector. The management commentary though continues to be robust with regards to future earnings. Have you tweaked your holdings recently amid the volatility seen in global markets? Keeping volatility in the global markets and expensive valuation in mind, we keep our overweight view on financials, consumption, industrials, and automobiles. You Might Also Like: ETMarkets Smart Talk: Large private banks, pharma top sectors for next 5 years: Sampath Reddy We are adding weight in Healthcare while remaining UW on Metals, Energy, IT, and Utilities. One needs to add quality names to their portfolio that have strong fundamentals with robust earnings outlooks in order to tide over this volatility. Also, one needs to keep valuation in mind as it will become an important driver for stock picking to drive outperformance. Some of the sectors that are still trading at reasonable valuations include Banking, Auto, and Healthcare. What is your take on Gold? Do you see the yellow metal could pick traction as geopolitical concerns escalate? The global uncertainties have led to a surge in gold prices by 8% from it recent low as investors reshuffle their portfolios and increase their allocation towards safe heaven amidst profit booking in equities. You Might Also Like: Buy pharma stocks on dips; be cautious in chemicals: Sandip Sabharwal If the Middle East tension escalates further or the Fed's hawkish stance continues for long, gold prices can surge even higher. There are a lot of largecap stocks that are hitting record highs regularly namely – Bajaj Auto, Tata Motors, Nestle India, Hero, etc. Do you see money moving towards largecaps as mid & smallcaps see some profit taking? Global headwinds has dented the investor sentiments and led to profit booking in broader markets. Over the last few sessions, mid and small caps have corrected almost 8% while Nifty has corrected ~5%. Post the sharp rally that was seen between April-Sep 2023, the valuations had become expensive especially in mid and small names. Many stocks had moved in the overbought zone, as broader market rallied almost 50% over April-Sep 2023 as compared to 15% gain in Nifty. But now the Israel-Hamas war does not seem to be getting over soon while the US Fed stays adamant in taming inflation to 2%. In such a scenario, we would suggest investors move towards large caps where the valuation is more comfortable. Some of the sectors, which are still trading at reasonable valuations include Banking, Auto, Healthcare and select large-cap IT stocks, in our view. Which sectors are you looking at say with a 5-year time horizon? From a long-term perspective, investors can look at stock picking in sectors like Financials, Auto, Consumption and Industrial. Valuation in banking still continues to be comfortable while the growth remains robust with healthy asset quality. Auto demand has entered an upcycle across both 4W and CVs while 2Ws has also started with its recovery. Even exports appear to have bottomed out. In the case of consumer discretionary, we expect demand to remain buoyant as the domestic economy remains resilient and on a strong growth trajectory. Lastly, industrials would benefit from the government’s focus on indigenization and increasing exports. What is your ‘sell’ strategy? When do you decide to sell the stock or exit a position? If the fundamentals of the company change on account of negative news flow or the valuations become expensive vis-à-vis growth, one must look to exit the stock depending upon one’s time horizon and risk appetite. Which sectors are witnessing a rise in ROEs and CAPEX revival? Industrials are witnessing expansion in RoE and capex revival. They are benefiting from huge capex revival both public and private which is visible in healthy inflows received so far. Further, focus on indigenization across a large number of segments and companies' strong manufacturing base along with strategic technology tie-ups and in-house R&D to cater to this demand is resulting in higher capacity utilization. Companies are also focusing on improving their share of non-defense segments which is further brightening the prospects while increasing exports opportunity adds to the opportunity. There is a lot of chatter around the slowdown in China – but is the fear real? China’s slowdown is for real as their real estate market is in huge trouble. The government has announced various stimulus packages to control the damage but has not succeeded so far. If the slowdown persists, then it will have a ripple effect on the global economy as several global companies rely on China’s consumer market. Many companies have already started acting on the China+1 strategy and shifted their production base to other countries, but still China is the base for raw material sourcing for many sectors. Though it’s difficult to say how much the impact could be definitely the impact would be felt on global economic growth. In terms of valuation – how is India placed compared to other EM peers? FIIs have pulled out the money in October – is the churn likely to continue? FII flows remained positive during Mar’23-July’23, but turned negative from Aug’23 onwards as they sold equities worth more than Rs65000 cr. In the near term, the outflow might continue as the global geopolitical tension escalates and the Fed’s stance on interest rates remains firm. But overall, from a long-term perspective, India's solid macroeconomic fundamentals in the context of weak global growth as well as prospects of another year of healthy corporate earnings should keep the flows resilient, especially given China's persistent downturn. (Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times) Connect with Experts - Wealth creation made easy Experience Your Economic Times Newspaper, The Digital Way! Friday, 03 Nov, 2023 Read Complete ePaper » Digital View Print View Wealth Edition WhatsAppening? Telcos Call Out Tech Cos over Biz SMSes An industry grouping representing India’s top three telcos has accused global consumer-technology majors, such as Microsoft and Amazon, of “presumably circumventing and bypassing the legal telecom route” by using WhatsApp and other unregulated platforms to send enterprise messages to customers, causing a likely ₹3,000-crore annual revenue loss to both the Centre and the service providers. Apple asked to Join CERT-In Probe into iPhone Hacking Bid The government has asked Apple to join a probe into the alleged state-sponsored hacking attempts on iPhones belonging to prominent Indians, including some members of the opposition in Parliament, according to S Krishnan, secretary, ministry of electronics and information technology. Go First Lessors Can Take Back Planes, Engines: DGCA to HC The Directorate General of Civil Aviation (DGCA) told the Delhi High Court Thursday that Go First’s leased aircraft and engines can be preregistered and returned to lessors, severely denting the bankrupt airline’s revival prospects. Read More News on health care motilal oswal financial services valuation perspective sneha poddar stock market outlook etmarkets smart talk sell strategy expert view Stock Market (What's moving Sensex and Nifty Track latest market news , stock tips and expert advice on ETMarkets . Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Download The Economic Times News App to get Daily Market Updates & Live Business News. 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