UNITED STATES STEEL CORPORATION Reports Q3 Revenue $4.43B, vs. Street Est of $4.261B.
UNITED STATES STEEL CORPORATION Reports Q3 Revenue $4.43B, vs. Street Est of $4.261B Read Post »
CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: Our 12-month target of $145, down $17, reflects a 6.1x multiple of projected 2024 operating cash flows, above VLO’s historical forward average. We reduce our 2023 EPS estimate by $0.35 to $25.65 and raise 2024’s by $1.26 to $16.23. Q3 EPS of $7.49 vs. $7.14 beat consensus estimates by $0.17. In Q3, adjusted EBITDA fell 6% Y/Y, while increasing ~10% sequentially, missing consensus estimates by ~10%. Refining utilization (95%) remained flat Y/Y and rose one percentage point sequentially, while throughput volumes (3.0 mb/d) rose 1% Y/Y and 2% sequentially. Refining margins ($19.47/b) fell ~9% Y/Y, while growing 25% sequentially due to its North Atlantic refining segment (+55%). We think that VLO should stand to benefit in the long run, given that OPEC+ production cuts are expected to
CFRA Keeps Buy Opinion On Shares Of Valero Energy Corporation Read Post »
-1.65%-3.17%盘后 CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We lower our 12-month price target by $1 to $12, based on ’25 P/E of 6.3x and a justified discount to F’s five-year mean forward P/E of 8.2x. We lower our adjusted EPS estimates to $2.00 from $2.10 for ’23, to $1.80 from $2.05 for ’24, and introduce ’25 at $1.90. Ford posts Q3 adjusted EPS of $0.39 vs. $0.30 (+30%), short of the $0.46 consensus. Automotive revenue rose 11% to $41.2B ($1.3B below consensus) and adjusted EBIT margin expanded 40 bps to 5.0%. Like GM earlier this week, Ford withdrew prior 2023 guidance pending the ratification of its tentative labor agreement with the UAW that was announced last night. While we think the new labor deal will be ratified, we view the concessions the company
CFRA Maintains Hold Opinion On Shares Of Ford Motor Company Read Post »
United States Steel (X) reported Q3 adjusted diluted earnings Thursday of $1.40 a share, down from $1.98 a year earlier. Analysts surveyed by Capital IQ expected $1.15. Sales for the quarter ended Sept. 30 were $4.43 billion, down from $5.2 billion a year earlier. Two analysts surveyed by Capital IQ expected $4.26 billion. The company said its board maintained a quarterly dividend of $0.05 per share, payable Dec. 7 to stockholders of record on Nov. 6.
United States Steel’s Q3 Adjusted Earnings, Sales Decline; Dividend Maintained Read Post »
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 $125, 10.1x our FY 2024 (Sep.) EPS estimate, a discount to its three-year forward average P/E at 14.8x, reflecting our concerns of softness from service provider customers. We cut our FY 2024 EPS estimate by $0.20 to $12.40 and set FY 2025’s at $13.76. FFIV reported Sep-Q operating EPS of $3.50 vs $2.62, $0.29 above the consensus. Sep-Q revenue increased 1% with 11% growth in software revenues and a 27% increase in subscription-based revenue, offset by a 25% decline in systems, reflecting a lower level of backlog-related shipments. We remain negative on FFIV given revenue guidance for FY 2024 of flat to down mid-single digits as customers remain cautious with spending levels for the foreseeable future and the company undergoes
CFRA Maintains Sell Opinion On Shares Of F5, Inc. Read Post »
Meta Platforms Sees Q4 2023 Revenue $36.5B-$40B Vs $36.64B Est。
Meta Platforms Sees Q4 2023 Revenue $36.5B-$40B Vs $36.64B Est Read Post »
Meta Platforms Daily Active Users in Q3 at 2.09 Billion, Vs Visible Alpha Analyst Consensus of 2.07 Billion; Monthly Active Users at 3.05 Billion, Vs Consensus of 3.05 Billion。
Meta Platforms Sees FY23 Total Expenses $87B-$89B Vs $88B-$91B Prior。
Meta Platforms Sees FY23 Total Expenses $87B-$89B Vs $88B-$91B Prior Read Post »
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 $40 to $400 on a forward P/E of 34.7x our 2024 earnings estimate, a premium to MCO’s three- and 10-year forward historical averages of 30.5x and 25.6x, respectively, given expectations for a strong rebound in debt issuance and margin expansion. We lower our 2023 EPS estimate by $0.12 to $10.15 and increase 2024’s by $0.11 to $11.53. MCO posted Q3 adjusted EPS of $2.43 versus $1.85, $0.15 higher than consensus on revenue that beat expectations by 1%. MCO’s analytics segment (MA) saw revenue growth accelerate to 13%, given strong traction in the KYC business. Encouragingly, the growth has not come at the cost of efficiency and the segment saw its adjusted operating margin surge 330 bps to 33.6%. The ratings
CFRA Keeps Buy Opinion On Shares Of Moody’s Corporation Read Post »
SERVICENOW Posts Q3 EPS $2.92, vs. Street Est of $2.55。
SERVICENOW Posts Q3 EPS $2.92, vs. Street Est of $2.55 Read Post »
CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: Our 12-month target of $190, cut $20, reflects a 39x multiple of projected 2024 EPS. The applied multiple is slightly below BA’s recent historical forward average of 42.5x, merited, in our view, by the ongoing retrenchment that must occur to move past quality control problems with the 737 family. We widen our expected per-share loss in 2023 by $1.94 to $5.23 and we cut our 2024 EPS estimate by $0.53 to $4.86. A Q3 operating loss per share of $3.26 vs. a loss per share of $6.18 is $0.65 wider than the consensus view. On a positive note, order flow is good, as BA racked up 400 net orders in Q3, but 2023 guidance on 737 deliveries was cut to a range of 375-400 in 2023 (prior
CFRA Keeps Hold Opinion On Shares Of The Boeing Company Read Post »
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 of $255, 17.2x our 2024 EPS estimate (kept at $14.84; 2023 EPS lifted to $12.65 from $12.43), above GD’s five-year forward P/E average given a strong global defense environment. GD posted Q3 EPS of $3.04 vs. $3.26 (-7% Y/Y), $0.10 above consensus. We attribute the decline in EPS to a Y/Y contraction of operating margins (-100 bps) on supply chain pressures. Q3 revenue rose 6% over the prior year, driven by accelerated growth in Combat Systems (+24%; 21% of total Q3 sales), which more than offset a double-digit decline in GD’s aerospace business (-13%; 19% of sales). Softness in aero was led by fewer deliveries of Gulfstream jets due to supply chain constraints. We expect supply chain challenges to linger into
CFRA Maintains Hold View On Shares Of General Dynamics Corporation Read Post »