CFRA Maintains Hold Recommendation On Shares Of Gartner Inc.

/ / Technology /

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We raise our 12-month target price to $412 from $355 on a P/E of 36x, below its 3-year historical average using our 2024 EPS view. We increase our 2023 EPS forecast to $10.95 from $10.05 and 2024 EPS estimate to $11.45 from $11.07. IT posted revenue of $1.4B for Q3, above consensus by $10M, and non-GAAP EPS of $2.56 beats by $0.60. Modest sales growth of 5.8% Y/Y was the result of continued pressures to demand and tough comparisons from the prior year – Research revenue was up 6% Y/Y from decelerating contract value growth (GTS +3.4% Y/Y, GBS +7.1% Y/Y), and slight contractions in wallet and retention rates. This was offset by outperformance in Consulting (+24.1% Y/Y, vs 12/6% Y/Y in Q3 2022). However, the share […]

CFRA Maintains Hold Recommendation On Shares Of Gartner Inc. Read Post »

Apple Q4 2023 Earnings Call Transcript

/ / Technology /

Company Management Luca Maestri – CFO Suhasini Chandramouli – Director of Investor Relations Tim Cook – CEO Analysts Aaron Rakers – Wells Fargo Securities Amit Daryanani – Evercore ISI Ben Reitzes – Melius Research David Vogt – UBS Erik Woodring – Morgan Stanley Harsh Kumar – Piper Sandler Krish Sankar – TD Cowen Michael Ng – Goldman Sachs Group Richard Kramer – Arete Research Wamsi Mohan – Bank of America Operator Certainly. We will go ahead and take our first question from Mike Ng of Goldman Sachs. Please go ahead. Michael Ng Hey. Good afternoon, and thank you very much for the questions. I just have a question on iPhone storage and demand versus iCloud. As demand for storage grows, are you seeing a mix-shift towards higher storage iPhone models or are consumers mostly opting for the same because of increased uptake of iCloud+? What are some of the strategic

Apple Q4 2023 Earnings Call Transcript Read Post »

Eli Lilly and Co Q3 2023 Earnings Conference Call Transcript

/ / Health Care /

Company Management Anat Ashkenazi – EVP & CFO Anne White – EVP & President, Lilly Neuroscience Lilly Research Laboratories Daniel Skovronsky – EVP, Chief Scientific & Medical Officer and President David Ricks – Chairman, CEO & President Ilya Yuffa – EVP of Eli Lilly and Company and President of Lilly International Joe Fletcher – SVP, IR Michael Mason – EVP & President of Lilly Diabetes Analysts Carter Gould – Barclays Bank Chris Shibutani – Goldman Sachs Group Christopher Schott – JPMorgan Chase & Co. David Risinger – Leerink Partners Evan Seigerman – BMO Capital Markets Geoff Meacham – Bank of America Merrill Lynch Laura Hindley – Berenberg Louise Chen – Cantor Fitzgerald & Co. Mohit Bansal – Wells Fargo Securities Seamus Fernandez – Guggenheim Stephen Scala – TD Cowen Terence Flynn – Morgan Stanley Timothy Anderson – Wolfe Research Trung Huynh – UBS Umer Raffat – Evercore ISI Timothy Anderson

Eli Lilly and Co Q3 2023 Earnings Conference Call Transcript Read Post »

CFRA Reiterates Strong Buy On Shares Of Albemarle Corporation

/ / 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 cut our 12-month target by $66 to $230 on a forward P/E of 12x our ’24 EPS estimate, well below the five-year average of 22.8x, but higher than the one-year average of 9.5x due to increased capacity in ’24. We lower our ’23 EPS view by $9.16 to $23.26, ’24’s by $7.71 to $19.20, and set ’25’s as $21.22. Q3 sales rose 10% Y/Y on higher volumes (+40%) (higher demand) in the Energy Storage segment (73% of Q3 sales) and higher pricing in the Ketjen segment. Significantly lower margins were due to lower lithium market pricing. ALB missed consensus EPS estimates by $0.96. Despite tough Q3 results, driven by lower lithium market pricing, we keep our bullish long-term outlook on lithium demand due to robust global

CFRA Reiterates Strong Buy On Shares Of Albemarle Corporation Read Post »

Starbucks Shares Rise After Fiscal Q4 Non-GAAP Earnings, Net Revenue Top Estimates

/ / Consumer Discretionary /

Starbucks’ (SBUX) shares rose 10% in recent Thursday trading after the company reported fiscal Q4 non-GAAP earnings of $1.06 per share, up from $0.81 a year earlier. Analysts polled by Capital IQ expected $0.97. Net revenue in the quarter ended Oct. 1 was $9.37 billion, up from $8.41 billion a year earlier. Analysts surveyed by Capital IQ expected $9.28 billion. Comparable-store sales rose 8% worldwide, the company said. Analysts polled by Capital IQ expected 7% growth.

Starbucks Shares Rise After Fiscal Q4 Non-GAAP Earnings, Net Revenue Top Estimates Read Post »

CFRA Maintains Buy Recommendation On Shares Of Shopify Inc.

/ / Technology /

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We maintain our 12-month target at $75 on EV/sales of 9.7x our 2025 sales estimate, below historical, but above peers due to growth and a greater focus on profitability/FCF. We increase our 2023 EPS to $0.71 from $0.63 and 2024’s to $1.23 from $0.94. We start 2025 EPS at $1.52. SHOP posted Q3 EPS of $0.24 vs. a $0.02 loss and better than the $0.14 EPS consensus. Sales grew a better-than-expected 25% and impressive 30% ex-logistics sale (500-bp headwind). Merchant Solutions rose 24%, driven by +22% GMV growth and Shopify Payments momentum (58% of GMV processed vs. 54% last year), while Subscriptions increased 29% from previous price hikes. Gross margin widened to 52.6% from 48.5%, as SHOP sees greater leverage post sale of its highly-fixed cost logistics

CFRA Maintains Buy Recommendation On Shares Of Shopify Inc. Read Post »

CFRA Maintains Buy Opinion On Shares Of S&p Global Inc.

/ / Financials /

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We decrease our 12-month target price by $10 to $470, a forward P/E of 32.4x our 2024 earnings estimate, a premium to the five-year historic average of 28.2x given higher recurring revenue and expectations for above-trend growth. We increase our 2023 EPS by $0.05 to $12.68 and raise 2024’s by $0.04 to $14.49. SPGI posted Q3 adjusted EPS of $3.21 vs. $2.93 a year ago, a $0.17 earnings beat. SPGI’s operating power was on full display in the quarter as accelerating growth was identified in each of the companies’ divisions. Leading the charge was Ratings (+20% Y/Y), which benefited from growth in transaction revenue as billed issuance increased significantly from prior depressed levels. Encouraging signs were also seen in Commodity Insights (+11%) with strong subscription growth, as

CFRA Maintains Buy Opinion On Shares Of S&p Global Inc. Read Post »

CFRA Keeps Buy Rating On Shares Of Rockwell Automation, Inc.

/ / Industrials /

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We keep our 12-month target price at $325, valuing shares at 23x our FY 25 (Sep.) EPS estimate (initiated at $14.15; 2024 EPS outlook lifted to $13.24 from $13.12), near ROK’s five-year forward P/E average. ROK posted Sep-Q operating EPS of $3.64 vs. $3.04 (+20% Y/ Y), beating consensus by $0.17. Sep-Q sales grew 21% Y/Y (up 18% organically), reflecting broad-based growth across ROK’s businesses as recovering supply chains enabled a reduction in lead times on shipments. ROK’s capacity investments are bearing fruit, with backlogs seeing a meaningful reduction in the Sep-Q. However, backlogs continue to be well above pre-pandemic levels ($4.1 billion) and will take several quarters to normalize, in our view. Shares are trading somewhat lower following ROK’s Sep-Q print given, in our opinion, a

CFRA Keeps Buy Rating On Shares Of Rockwell Automation, Inc. Read Post »

CFRA Maintains Buy Opinion On Shares Of Intercontinental Exchange, Inc.

/ / Financials /

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We decrease our 12-month target price by $5 to $130, reflecting a P/E of 21.4x our 2024 EPS estimate, in line with ICE’s 10-year average of 21.3x. We lower our 2023 EPS estimate by $0.06 to $5.66 and reduce 2024’s by $0.10 to $6.09. ICE posted Q3 adjusted EPS of $1.46 vs. $1.31, beating consensus by $0.07. It was an exciting quarter as ICE finally closed Black Knight (originally announced May 2022), a deal which we believe will pay substantial dividends once mortgage rates begin to fall. Unfortunately, this may take some time and we note adjusted revenues in Mortgage Technology fell 7% Y/Y given the highest mortgage rates in decades. Still, ICE is far from a one trick pony and its countercyclical Exchange segment saw revenues

CFRA Maintains Buy Opinion On Shares Of Intercontinental Exchange, Inc. Read Post »

Microchip Technology Announces Financial Results For Second Quarter of Fiscal Year 2024

/ / Technology /

Microchip Technology Announces Financial Results For Second Quarter of Fiscal Year 2024   — Net sales of $2.254 billion, down 1.5% sequentially and up 8.7% from the      year ago quarter. The midpoint of our guidance provided on August 3, 2023      was net sales of $2.266 billion.   — On a GAAP basis: gross profit of 67.8%; operating income of $885.0      million and 39.3% of net sales; record net income of $666.6 million; and      record EPS of $1.21 per diluted share. Our guidance provided on August 3,      2023 was for GAAP EPS of $1.18 to $1.21 per diluted share.   — On a Non-GAAP basis: gross profit of 68.1%; operating income of $1.085      billion and 48.1% of net sales; net income of $889.3 million and EPS of      $1.62 per diluted share. Our guidance provided on August 3,

Microchip Technology Announces Financial Results For Second Quarter of Fiscal Year 2024 Read Post »

Scroll to Top