Selected stock price target news of the day - September 27th, 2024

By: Matthew Otto

Micron Technology Tops Q4 Earnings and Revenue Estimates, Issues Robust Q1 2025 Forecast

Micron Technology reported Q4 FY2024 earnings per share (EPS) of $1.18, surpassing the analyst estimate of $1.11 by $0.07. Revenue for the quarter reached $7.75 billion, slightly ahead of the consensus estimate of $7.65 billion.

Year-over-year revenue rose by 5.7%, driven by demand in its memory and storage segments, particularly in the data center and automotive sectors. Micron also saw an increase in operating cash flow, generating $3.41 billion, compared to $2.48 billion in the previous quarter and $249 million in the fourth quarter of fiscal 2023.

Looking ahead, Micron provided guidance for Q1 FY2025, forecasting EPS of $1.74, above the consensus estimate of $1.52. Revenue for the upcoming quarter is expected to range between $8.5 billion and $8.9 billion, surpassing the analyst consensus of $8.32 billion.

For the full fiscal year 2024, Micron’s revenue totaled $25.11 billion, compared to $15.54 billion in fiscal 2023, reflecting a year-over-year increase of 93%. GAAP net income for the year reached $778 million, or $0.70 per diluted share, while non-GAAP net income was $1.47 billion, or $1.30 per share. Operating cash flow surged to $8.51 billion, a rise from $1.56 billion in the previous fiscal year.

Analysts Adjust Targets Following Q4 Results and Q1 2025 Guidance

Baird analyst Tristan Gerra maintained an Outperform rating but lowered the price target from $172 to $150.
While Raymond James analyst Srini Pajjuri kept an Outperform rating and raised the price target from $125 to $140.
BofA Securities analyst Vivek Arya maintained a Buy rating and increased the price target from $110 to $125.
TD Cowen analyst Karl Ackerman held onto a Buy rating yet lifted the price target from $115 to $135.
Meanwhile, Morgan Stanley analyst Joseph Moore kept an Equal-Weight rating but boosted the price target from $100 to $114.

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

Analyst Brian Chin (STIFEL) currently has the highest performing score on MU with 7/10 (70%) price target fulfillment ratio. His price targets carry an average of $11.55 (7.53%) potential upside. Micron Technology stock price reaches these price targets on average within 30 days.

Cintas Corporation Reports Strong Q1 Fiscal 2025 Results and Raises Annual Guidance

Cintas reported its financial results for the first quarter of fiscal 2025, with a revenue of $2.50 billion, meeting the consensus estimate. This reflects a 6.8% increase from the $2.34 billion reported in the same period last year. Adjusting for one fewer workday compared to the prior year, the same workday revenue growth was 8.4%.

The organic revenue growth rate, which excludes the impact of acquisitions, currency fluctuations, and workday differences, stood at 8.0%. Gross margin for the quarter rose to $1.25 billion, a 9.7% increase compared to $1.14 billion in the first quarter of fiscal 2024, with a gross margin percentage of 50.1%, up from 48.7% last year. Energy expenses, including gasoline and electricity, decreased by 20 basis points year-over-year.

Additionally, Cintas reported an EPS of $1.10, exceeding analyst expectations of $0.95. Operating income for the quarter reached $561.0 million, up 12.1% from $500.6 million in the previous year. Net income grew by 17.4%, amounting to $452.0 million compared to $385.1 million last year.

Cintas also announced guidance for fiscal year 2025, projecting EPS in the range of $4.17 to $4.25, aligning with the consensus of $4.17. Revenue guidance is set between $10.22 billion and $10.32 billion, slightly below the consensus estimate of $10.28 billion. Cash flow from operating activities increased by 38.5% to $466.7 million. Cintas repurchased shares worth $473.6 million and increased its quarterly dividend by 15.6%.

Analysts Mixed Sentiment Following Strong Q1 Fiscal 2025 Results

Jefferies analyst Stephanie Moore maintained a Hold rating, while adjusting the price target down to $200 from $730.
Goldman Sachs analyst George Tong kept a Buy rating and raised the price target from $212 to $236.
Morgan Stanley analyst Toni Kaplan maintained an Equal-Weight rating and increased the price target from $170 to $185.
Wells Fargo analyst Jason Haas continued with an Underweight rating but raised the price target from $184 to $191.
UBS analyst Joshua Chan maintained a Buy rating and raised the price target from $219 to $240.
RBC Capital analyst Ashish Sabadra kept a Sector Perform rating and increased the price target from $181 to $215.
Baird analyst Andrew Wittmann maintained a Neutral rating while raising the price target from $194 to $209.

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

Analyst Seth Weber (WELLS FARGO) currently has the highest performing score on CTAS with 15/15 (100%) price target fulfillment ratio. His price targets carry an average of $-24.12 (-3.18%) potential downside. Cintas stock price reaches these price targets on average within 98 days.

Accenture Reports Strong Q4 Earnings, Forecasts Continued Growth

Accenture reported financial performance for the fourth quarter and full fiscal year ended August 31, 2024. Accenture achieved new bookings of $20.1 billion for the quarter, contributing to a record total of $81.2 billion for the fiscal year, representing a 13% increase in U.S. dollars and a 14% increase in local currency compared to the prior year.

For the fourth quarter, revenue reached $16.4 billion, reflecting a 3% increase in U.S. dollars and a 5% increase in local currency year-over-year, surpassing consensus estimates of $16.37 billion. Accenture reported a GAAP operating margin of 14.3%, an increase of 230 basis points from the previous year, while adjusted operating margin improved to 15.0%. Adjusted earnings per share (EPS) were $2.79, exceeding analysts’ expectations by a penny.

Looking ahead, Accenture forecasts revenue for the first fiscal quarter between $16.85 billion and $17.45 billion, slightly below analyst estimates of $16.92 billion. For the full fiscal year 2025, Accenture anticipates GAAP EPS of $12.55 to $12.91, compared to analysts’ expectations of $12.82.

Analysts React to Q4 Performance with Upgraded Ratings and Price Targets

Susquehanna Analyst James Friedman maintained a Neutral rating and raised the price target from $350 to $360.
BofA Securities Analyst Jason Kupferberg continued with a Buy rating while increasing the price target from $365 to $388.
Baird Analyst David Koning kept a Neutral rating but raised the price target from $350 to $370.
Piper Sandler Analyst Arvind Ramnani upgraded his rating from Neutral to Overweight and the price target from $329 to $395.

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

Analyst Arvind Ramnani (PIPER SANDLER) currently has the highest performing score on ACN with 25/29 (86.21%) price target fulfillment ratio. His price targets carry an average of $-7.22 (-2.15%) potential downside. Accenture stock price reaches these price targets on average within 159 days.