Daily Update - Jan 31, 2023

Selected highlights of the day

By: Matthew Otto

FLT

  • B of A Securities analyst Mihir Bhatia is bullish on Fleetcor Technologies, upgrading the company from Neutral to Buy.

NUS

  • Analyst Ashley Helgans has dimmed her outlook on Nu Skin Enterprises, taking her rating from a Buy to Hold and setting the price target at $39.

 

HomeStreet

Has declared a $0.35 per share quarterly dividend in an effort to reward its shareholders and show confidence from the Board of Directors. However, Keefe, Bruyette & Woods’ Jacquelynne Bohlen downgraded HomeStreet’s rating to Market Perform even with her announced price target prediction for February 8th at $29 per share.

PCRX

  • Wedbush analyst Andreas Argyrides is giving Pacira BioSciences an Outperform rating and a Price Target of $60.

VSCO

Despite an unpredictable economic climate, Victoria’s Secret is powering through! The women’s clothing company celebrated a successful holiday season by increasing their full-year earnings expectations and investing in their business with the purchase of $125 million of common stock.

SPOT

Despite booking a loss of €659 million in 2021, Spotify reported an impressive growth story this quarter. Monthly active users totaled 489 million – 20% more than the same period last year and exceeding their own expectations.

RYAAY

Ryanair soared to soaring heights as they reported their highest ever quarterly profits, reaching 211 million euros(€229.40m). Analysts had predicted a figure of 200 million while the previous quarter just fell short at 106 million. This marks an incredible milestone for Europe’s biggest passenger carrier who have reiterated their 2019 financial forecast with expectations between 1.325 billion and 1.425billion Euros!

 

Exxon Mobil

Reported eye-popping profits in 2022, taking home over $6 million per hour – a historical high for the western oil industry and almost double what they made in 2008 when prices were at their peak. This impressive feat was thanks to deep cost cuts during pandemic times combined with soaring demand causing profit margins to skyrocket up to an incredible $59 billion (3.4x of initial predictions.). Production levels rose too, equating to around 100000 barrels of crude oil each day.

 

Pfizer

Is predicting a steep year-over-year decline in revenue and earnings for 2023 due to waning sales of its Covid-19 vaccine. According to their projections, total revenue will decrease by roughly 30% from 2022, with adjusted diluted earning forecasts falling well short of the FactSet consensus estimate. With U.S market share projected at 64%, Pfizer estimated that 65 million doses would be delivered over the course of 2023 – significantly lower than previous figures reported during this ongoing pandemic.

 

McDonald’s resilience was evident in Q4

With revenues surpassing expectations and a significantly accelerated sales uptick across all three segments. Comparable-restaurant global sales were up an impressive 12.6%, buoyed by higher prices as well as increased customer traffic

  • Cowen analyst Andrew Charles who rated McDonalds’ stock at Outperform with a target price set for $293.
  • Yesterday, Stifel analyst Chris O’Cull kept his Hold rating with a raised price target of $270.
  • Credit Suisse analyst Lauren Silberman reiterated an Outperform recommendation, she increased her own price target from $292 to $298.

WHR

Despite supply chain disruption and decreasing demand, Whirlpool managed to exceed analyst lack of expectations in their fourth quarter earnings. Net sales were down 15.3% compared with the previous year but overall had a net loss of $29.35 per share for the full year yet still achieved adjusted earnings of $19.64 a share, indicating resilience despite adversity experienced during this time period; going forward they expect revenue at 19.4 billion next fiscal while projecting between 16-18 dollars per share earning potential by 2023.