Phillips 66 Delivers Strong 4Q 2023 Results, Advances Strategic Priorities

/ / Energy /

Phillips 66 Delivers Strong 4Q 2023 Results, Advances Strategic Priorities Fourth Quarter — Fourth-quarter earnings of $1.3 billion or $2.86 per share; adjusted earnings of $1.4 billion or $3.09 per share — $2.2 billion of operating cash flow — $1.6 billion returned to shareholders through dividends and share repurchases — Strong Refining operations at 92% utilization and 107% market capture — Record NGL fractionation volumes and LPG export volumes Full-Year 2023 — Earnings of $7.0 billion or $15.48 per share; adjusted earnings of $7.2 billion or $15.81 per share — $7.0 billion of operating cash flow, $8.8 billion excluding working capital — $5.9 billion returned to shareholders through dividends and share repurchases — Quarterly dividend increased 8% to $1.05 per common share — $1.2 billion in run-rate business transformation savings — Strong Refining operations with four consecutive quarters above industry-average crude utilization — Advancing Midstream NGL wellhead-to-market strategy; acquired all […]

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Skyworks Solutions, Inc. (NASDAQ:SWKS) Stock Analyst Ratings

/ / Technology /

Skyworks Solutions, Inc. (NASDAQ:SWKS) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/31/2024 20.48% Rosenblatt → $130 Reiterates Buy → Buy 01/04/2024 -16.59% Piper Sandler → $90 Downgrades Overweight → Neutral 12/18/2023 15.85% Mizuho $108 → $125 Maintains Buy 11/03/2023 20.48% Rosenblatt $150 → $130 Maintains Buy 11/03/2023 -16.59% Piper Sandler $125 → $90 Maintains Overweight 11/03/2023 1.95% Susquehanna $115 → $110 Maintains Positive 11/03/2023 -11.96% Morgan Stanley $112 → $95 Maintains Equal-Weight 11/03/2023 11.21% Keybanc $130 → $120 Maintains Overweight 11/03/2023 — Summit Insights Group Downgrades Buy → Hold 10/24/2023 6.58% Susquehanna $130 → $115 Maintains Positive 10/10/2023 -19.37% Citigroup $116 → $87 Downgrades Neutral → Sell 09/20/2023 1.95% Exane BNP Paribas → $110 Downgrades Outperform → Neutral 09/14/2023 20.48% Keybanc → $130 Reiterates Overweight → Overweight 08/08/2023 15.85% Piper Sandler $107 → $125 Maintains Overweight 08/08/2023 20.48% Susquehanna $125 →

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Goldman Sachs, Jefferies Stand Out Among Undervalued Big Banks, Oppenheimer Says

/ / Financials /

By Steve Gelsi Analyst recommends GS, JEF, as well as BAC, C, JPM, MS and USB Oppenheimer analyst Chris Kotowski has reiterated overweight ratings on Goldman Sachs Group Inc. and Jefferies Financial Group Inc. as standouts among a class of relatively cheap big-bank stocks. “You wouldn’t know it from the stock market…but big banks did fine in 2023,” Kotowski said in a research note published Tuesday. He’s recommending that investors “in particular” overweight their exposure to Goldman Sachs Group Inc. (GS) and Jefferies (JEF), but the entire group including Bank of America Corp. (BAC), Citigroup Inc. (C), JPMorgan Chase & Co. (JPM), Morgan Stanley (MS) and U.S. Bancorp (USB) “remains significantly undervalued,” he said. The positive note from Oppenheimer came as Morgan Stanley analyst Analyst Betsy Graseck said she is “back & bullish” on big banks. Also read: Morgan Stanley upgrades Bank of America, Goldman Sachs and Citi on ‘lightened

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CFRA Downgrades View On Shares Of Nucor Corporation To Sell From Hold

/ / Basic Materials /

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We increase our 12-month target by $11 to $167, which assumes an EV/EBITDA of 7.5x our ’24 EBITDA estimate, a premium to NUE’s three-year avg. forward EV/EBITDA of 5.5x and above peers’ avg. forward EV/EBITDA of 6.6x. We raise our ’24 EPS estimate by $0.54 to $12.87 and initiate our ’25 EPS forecast at $12.10. NUE posts Q4 adj. EPS of $3.16 vs. $4.89, $0.33 above consensus, with in-line sales. Q4 avg. sales price fell 15% Y/Y but shipment volume rose 8% Y/Y. NUE is facing some very difficult comps in ’24 and we forecast a decline in adj. EPS of 28% in ’24 and 6% in ’25 (and adj. EBITDA declines of 23% in ’24 and 3% in ’25). NUE currently trades at a significant premium

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Boeing Q4 Core Loss Narrows, Revenue Increases; Mentions 737 MAX Scrutiny

/ / Industrials /

Boeing (BA) reported a Q4 core loss Wednesday of $0.47 per share, narrower than its $1.75 core loss per share a year earlier. Analysts surveyed by Capital IQ expected a core loss of $0.79 per share. Revenue for the quarter ended Dec. 31 was $22.02 billion, up from $19.98 billion a year earlier. Analysts polled by Capital IQ expected $21.08 billion. The company gave no financial forecast for 2024, saying it is focusing on “taking comprehensive actions to strengthen quality at Boeing” amid scrutiny surrounding the Alaska Airlines blowout. Earlier in January, a fuselage plug on an emergency exit of a Boeing 737 MAX 9 came off mid-air, forcing an emergency landing. “As we move forward, we will support our customers, work transparently with our regulator and ensure we complete all actions to earn the confidence of our stakeholders,” said Chief Executive Dave Calhoun.

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Walmart, in a Reversal, to Open New Stores in the U.S. — WSJ

/ / Consumer Discretionary /

By Sarah Nassauer It has been a while since Walmart felt it was too small. The retail giant plans to open or expand 150 stores in the U.S. over the next five years, reversing a strategy that had focused on keeping its store count flat. Most stores targeted in the project will be new locations. Walmart in 2016 began to slow new store openings as it worked to fend off Amazon.com, saying it aimed to invest in online growth, along with improving existing stores. By the end of 2019 that trickle slowed to a near halt as existing real-estate projects wrapped up. It hasn’t opened a new U.S. supercenter in about two years. In a staff memo sent Wednesday, Walmart said it would open around 12 new stores this year and convert one smaller location to a Walmart Supercenter, the large stores that sell everything from lettuce to vacuums. Over

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Meta Platforms’s Earnings Outlook

/ / Technology /

Meta Platforms (NASDAQ:META) is set to give its latest quarterly earnings report on Thursday, 2024-02-01. Here’s what investors need to know before the announcement. Analysts estimate that Meta Platforms will report an earnings per share (EPS) of $4.56. Meta Platforms bulls will hope to hear the company announce they’ve not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter. New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).

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