Consumer Discretionary

Target (NYSE: TGT) Seen With Sales Rebound In 2024

/ / Consumer Discretionary /

Target (NYSE: TGT)  may be on track for a sales rebound in 2024, with several tailwinds returning for the company, according to UBS analysts. They say in a research note that moderating inflation on consumables will give shoppers more cash to spend on discretionary goods, which will benefit Target. The company will also be lapping easier comparisons in 2024, as 2023 saw less promotional activity than 2022 and the company’s sales took a hit in May and June from backlash to its Pride Month collection. Cost cuts and smaller losses from shrink will likely boost profit as well. The analysts back their buy rating and price target of $174. Shares rise 2% to $149.48.

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Airbnb Q4 Results to At Least Meet Estimates Amid Strong Bookings, BofA Says

/ / Consumer Discretionary /

Airbnb (ABNB) is likely to meet or even beat Q4 estimates as travel data points to strong bookings in November and December and with marketing savings also providing support, BofA Securities said Monday in an earnings preview. With Q4 average daily rate now seen at $155, up from the previous estimate of $154, BofA expects bookings and revenue for the quarter at $15.4 billion and $2.18 billion, respectively, compared with street forecasts of $15.1 billion and $2.16 billion. The brokerage projects Q4 EBITDA at $651 million, compared with consensus of $645 million. For the current quarter, BofA forecasts bookings and revenue of $23.2 billion and $2.08 billion, respectively, compared with street estimates of $22.9 billion and $2.06 billion. BofA now expects full-year 2024 revenue and EBITDA at $11.4 billion and $4.2 billion, respectively, up from its previous forecasts of $11.1 billion and $4.06 billion. But despite Airbnb’s potential upside from

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Walmart Poised for ‘Solid’ Fiscal Fourth-Quarter Results, UBS Says

/ / Consumer Discretionary /

Walmart (WMT) is expected to post “solid” fiscal fourth-quarter results and gain further market share in the grocery, health and wellness, and e-commerce categories, UBS Securities said Monday. The retail giant is scheduled to report fourth-quarter results Feb. 20. UBS raised its adjusted earnings outlook to $1.70 per share from $1.62 and expects revenue to grow 4.4% year over year to $171.28 billion. Wall Street is looking for adjusted EPS of $1.63 on revenue of $170.31 billion, according to the brokerage. “We believe (Walmart) generated good momentum in (the fourth quarter) despite the topsy-turvy spending backdrop throughout the period,” UBS analysts Michael Lasser, Zeyn Burak and Mark Carden said in a note. The company’s latest quarterly results and guidance “should provide more optimism on the sustainability of its recent share gains and its future potential,” the analysts said. UBS increased its US fourth-quarter same-store sales estimate to 3% from 2.5%.

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Walmart’s (NYSE: WMT) Alternative Profit Streams Seen Lifting Share Price

/ / Consumer Discretionary /

Walmart (NYSE: WMT) generated a good momentum in the 4Q despite the confusing spending backdrop experienced during the period, so its upcoming 4Q print and FY outlook should provide more optimism on the sustainability of its recent share gains, UBS analysts say in a research note. The biggest U.S. retailer should benefit from its defensive characteristics and idiosyncratic sales and profit drivers as it expands its marketplace, analysts say. “We think the company may provide more detail on its alternative profit story that could keep the stock’s valuation trading at a premium,” analysts add.

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Target’s (NYSE: TGT) Initiatives, Alternative Profit Segments Seen Driving Results

/ / Consumer Discretionary /

Target  (NYSE: TGT) will likely get back to growing both its sales and profits this year as the company prepares to grow alternative profit segments, UBS analysts say in a research note. The company should benefit from sequentially improved year-over-year growth rates in discretionary categories during November and December, even if the retail giant will likely forecast flattish sales. Furthermore, a potential launch of a membership program would help the company turn around the debate around losing market share, and its roundel advertising business should allow it boost its results, analysts say.

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MARRIOTT INTERNATIONAL REPORTS STRONG FOURTH QUARTER AND FULL YEAR 2023 RESULTS

/ / Consumer Discretionary /

MARRIOTT INTERNATIONAL REPORTS STRONG FOURTH QUARTER AND FULL YEAR 2023 RESULTS PR Newswire BETHESDA, Md., Feb. 13, 2024 — Fourth quarter 2023 comparable systemwide constant dollar RevPAR increased 7.2 percent worldwide, 3.3 percent in the U.S. & Canada, and 17.4 percent in international markets, compared to the 2022 fourth quarter; — Fourth quarter reported diluted EPS totaled $2.87, compared to reported diluted EPS of $2.12 in the year-ago quarter. Fourth quarter adjusted diluted EPS totaled $3.57, compared to fourth quarter 2022 adjusted diluted EPS of $1.96; — Fourth quarter reported net income totaled $848 million, compared to reported net income of $673 million in the year-ago quarter. Fourth quarter adjusted net income totaled $1,055 million, compared to fourth quarter 2022 adjusted net income of $622 million; — Adjusted EBITDA totaled $1,197 million in the 2023 fourth quarter, compared to fourth quarter 2022 adjusted EBITDA of $1,090 million; — The company

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Marriott Intl Q4 2023 Adj. EPS $3.57 Beats $2.12 Estimate, Sales $6.09B Miss $6.20B Estimate

/ / Consumer Discretionary /

Marriott Intl (NASDAQ:MAR) reported adjusted quarterly earnings of $3.57 per share which beat the analyst consensus estimate of $2.12 by 68.4 percent. This is a 82.14 percent increase over earnings of $1.96 per share from the same period last year. The company reported quarterly sales of $6.09 billion which missed the analyst consensus estimate of $6.20 billion by 1.69 percent. This is a 2.90 percent increase over sales of $5.92 billion the same period last year.

Marriott Intl Q4 2023 Adj. EPS $3.57 Beats $2.12 Estimate, Sales $6.09B Miss $6.20B Estimate Read Post »

Marriott Forecasts Easing Growth in 2024

/ / Consumer Discretionary /

Marriott International is forecasting continued growth of a key revenue figure this year, but expects the pace of growth to cool off as the travel recovery enters a new phase. The Bethesda, Maryland, hotel operator reported a fourth-quarter profit of $848 million, or $2.87 a share, compared with $673 million, or $2.12 a share, in the same period last year. Adjusted earnings were $3.57 a share. Analysts surveyed by FactSet expected $2.12 a share. Revenue rose about 3% to $6.1 billion. Analysts expected $6.2 billion. Global revenue per available room–a key industry figure used to gauge the health of a portfolio–rose 7.2% in the quarter, including 3.3% in the U.S. and Canada. For 2024, Marriott is targeting adjusted earnings of $9.18 a share to $9.52 a share, below the $9.68 a share that analysts expected. The company expects RevPAR for the year to grow 3% to 5%, down from 15%

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United Airlines Holdings (NASDAQ:UAL) Stock Analyst Ratings

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United Airlines Holdings (NASDAQ:UAL) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 02/13/2024 17.15% Redburn Atlantic → $50 Downgrades Buy → Neutral 02/09/2024 52.3% Evercore ISI Group $58 → $65 Upgrades In-Line → Outperform 01/10/2024 40.58% Susquehanna → $60 Upgrades Neutral → Positive 01/09/2024 31.21% B of A Securities $40 → $56 Upgrades Underperform → Buy 12/20/2023 52.3% Raymond James $68 → $65 Maintains Outperform 10/19/2023 129.62% JP Morgan $93 → $98 Maintains Overweight 10/19/2023 59.33% Raymond James $70 → $68 Maintains Outperform 10/19/2023 -6.28% Susquehanna $44 → $40 Maintains Neutral 10/19/2023 66.35% Citigroup $76 → $71 Maintains Buy 10/11/2023 3.09% Susquehanna $57 → $44 Maintains Neutral 10/05/2023 64.01% Raymond James $76 → $70 Maintains Outperform 10/02/2023 75.73% Morgan Stanley $80 → $75 Maintains Overweight 09/29/2023 12.46% Jefferies $65 → $48 Maintains Hold 09/26/2023 59.33% Bernstein $71 → $68 Maintains Outperform 08/28/2023

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Marriott International (NASDAQ:MAR) ‘s 2024 Outlook

/ / Consumer Discretionary /

Marriott International (NASDAQ:MAR)  expects 2024 earnings per share of $9.18 to $9.52, but a consensus of analysts surveyed by FactSet were expecting earnings per share of $9.68. For the full year, the company expects worldwide revenue per available room to increase 3% to 5% vs 2023. That’s compared with a 15% jump in 2023.

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