Selected stock price target news of the day - September 23rd, 2024

By: Matthew Otto

FactSet Surpasses Q4 EPS and Revenue Expectations, Issues FY2025 Guidance Close to Projections

FactSet reported fourth-quarter fiscal 2024 earnings per share (EPS) of $3.74, surpassing the analyst estimate of $3.62 by $0.12. Quarterly revenue reached $562.2 million, exceeding the consensus estimate of $546.76 million. This represents a 4.9% year-over-year increase in GAAP revenues, driven by growth in the wealth, banking, and institutional asset management sectors.

Organic revenues also rose 5.0% to $562.8 million. FactSet’s GAAP operating margin improved by 110 basis points to 22.7%, while the adjusted operating margin increased 240 basis points to 35.8%. GAAP diluted earnings per share grew 38.1% to $2.32.

For fiscal 2025, FactSet expects EPS in the range of $16.80 to $17.40, with the upper end slightly above the consensus estimate of $17.36. FactSet also projects revenues between $2.29 billion and $2.31 billion, closely aligning with the consensus estimate of $2.30 billion. Net cash from operating activities for Q4 2024 was $163.2 million, while free cash flow decreased by 12.2% year-over-year to $137.2 million.

Analysts Adjust Price Targets Following Q4 Results and FY2025 Guidance

BMO Capital analyst Jeffrey Silber maintained a Market Perform rating, yet raised the price target from $440 to $471.
Wells Fargo analyst Jason Haas kept an Equal-Weight rating, while increasing the price target from $435 to $503.
UBS analyst Alex Kramm held a Neutral rating and raised the price target from $455 to $485.
RBC Capital analyst Ashish Sabadra maintained a Sector Perform rating, and raised the price target from $464 to $503.

Which Analyst has the best track record to show on FDS?

Analyst Shlomo Rosenbaum (STIFEL) currently has the highest performing score on FDS with 13/14 (92.86%) price target fulfillment ratio. His price targets carry an average of $3.09 (0.66%) potential upside. FactSet stock price reaches these price targets on average within 43 days.

Constellation Signs Agreement with Microsoft to Restart Three Mile Island Unit 1, Boosting Clean Energy

Constellation Energy has signed a 20-year power purchase agreement with Microsoft. This agreement will lead to the reopening of the Three Mile Island (TMI) Unit 1 reactor, which will now be called the Crane Clean Energy Center (CCEC).

The restart of TMI Unit 1 is expected to generate approximately 835 megawatts of carbon-free electricity, supporting Microsoft’s efforts to power its data centers with clean energy. The project is also projected to create 3,400 direct and indirect jobs and contribute over $3 billion in state and federal taxes.

TMI Unit 1, which had been shut down in 2019 for economic reasons, will undergo upgrades, including improvements to its turbine, generator, and other critical systems, pending approval from the U.S. Nuclear Regulatory Commission.

According to a study by The Brattle Group, the project could add $16 billion to the state’s GDP by 2054. Furthermore, Constellation has committed to investing $1 million in local philanthropic initiatives over the next five years, focusing on workforce development.

Analysts Raise Price Targets Following Power Purchase Agreement

Morgan Stanley analyst David Arcaro maintained an Overweight rating, and raised the price target from $233 to $313.
Keybanc analyst Sangita Jain also maintained an Overweight rating, but raised the price target from $230 to $265.
RBC Capital analyst Shelby Tucker reiterated a Sector Perform rating and the price target at $214.
Wells Fargo analyst Jason Hass maintained an Equal Weight rating and raised the price target from $435 to $503 Weight rating.

Which Analyst has the best track record to show on CEG?

Analyst Sangita Jain (KEYBANK) currently has the highest performing score on CEG with 7/7 (100%) price target fulfillment ratio. His price targets carry an average of $14.93 (6.94%) potential upside. Constellation Energy stock price reaches these price targets on average within 68 days.

Cracker Barrel Reports Fourth Quarter 2024 Revenue and Provides 2025 Outlook Amid Inflation Pressures

Cracker Barrel Old Country Store announced its financial results for the fourth quarter of fiscal 2024, reporting total revenue of $894.4 million for the quarter. This reflects a 6.9% increase from $836.7 million in the same period last year. This figure includes a $62.8 million benefit from an additional operating week, or 53rd week. However, the revenue fell short of the consensus estimate of $898.09 million. Also reported earnings per diluted share (EPS) of $0.98, which was $0.16 lower than the analyst estimate of $1.14.

Comparable store restaurant sales experienced a slight increase of 0.4%, while comparable store retail sales decreased by 4.2%. GAAP net income for the quarter was $18.1 million, or 2.0% of total revenue, compared to $37.5 million, or 4.5% of total revenue, in the prior year. Adjusted EBITDA was $57.4 million, representing 6.4% of total revenue, down from $70.4 million, or 8.4%, in the previous fourth quarter.

For the entire fiscal year 2024, Cracker Barrel reported total revenue of $3.47 billion, up 0.8% from $3.44 billion in fiscal 2023. Comparable store restaurant sales decreased by 0.1%, and retail sales dropped by 5.5%. GAAP net income for the year was $40.9 million, or 1.2% of total revenue, lower than $99.1 million, or 2.9%, in the prior year. Adjusted net income for fiscal 2024 was $78.5 million, reflecting a decrease from $112.1 million in the prior year.

Looking ahead, Cracker Barrel projects fiscal 2025 revenue between $3.4 billion and $3.5 billion, below the consensus estimate of $3.45 billion. Additionally anticipates commodity inflation of 2% to 3%, hourly wage inflation of 3% to 4%, and adjusted EBITDA in the range of $200 million to $215 million.

Analyst Mixed Reactions Following Q4 Results

BofA Securities analyst Sara Senatore maintained an Underperform rating, yet raised the price target from $40 to $42.
Truist Securities analyst Jake Bartlett kept a Hold rating, while increasing the price target from $42 to $44.
Loop Capital analyst Alton Stump maintained a Hold rating, but lowered the price target from $50 to $45.

Which Analyst has the best track record to show on CBRL?

Analyst Jon Tower (CITI) currently has the highest performing score on CBRL with 18/23 (78.26%) price target fulfillment ratio. His price targets carry an average of $-6.5 (-13.40%) potential downside. Cracker Barrel Old Country Store stock price reaches these price targets on average within 143 days.