Streetbeat News

Dividends

MCHP

Microchip Technology Incorporated (NASDAQ:MCHP) reported Q4 earnings in line with estimates, posting GAAP earnings of 57 cents per share and sales of $1.33 billion. The company raised its quarterly cash dividend by 18.0% to 45.2 cents per share. Despite a 9.5% revenue decline to $7.6 billion in fiscal 2024 due to inventory correction, the company achieved a non-GAAP operating margin of 43.9% and returned $1.89 billion to shareholders. Following the earnings announcement, analysts from Mizuho, Needham, Susquehanna, and Truist Securities raised their price targets on MCHP.

Portfolio Pulse from Avi Kapoor

May 07, 2024 | 12:42 pm

EE

NRT

TDW

As of May 7, 2024, Excelerate Energy, Inc. (EE), North European Oil Royalty Trust (NRT), and Tidewater Inc. (TDW) are identified as overbought energy stocks, with RSI values above 70, signaling potential short-term performance concerns. EE is set to release Q1 2024 results, NRT announced a Q2 distribution, and TDW reported strong Q1 results.

Portfolio Pulse from Avi Kapoor

May 07, 2024 | 12:32 pm

MCK

McKesson Corporation (NYSE:MCK) is expected to report Q4 earnings of $6.34 per share, down from $7.19 the previous year, but with projected revenue of $79.32 billion, up from $68.91 billion. The company offers a 0.46% annual dividend yield, equating to $2.48 per share annually. To earn $500 monthly from dividends, an investment of approximately $1,290,319 is needed. McKesson's stock price recently increased by 0.9% to close at $533.41.

Portfolio Pulse from Avi Kapoor

May 07, 2024 | 12:17 pm

CALM

MO

WBA

Wall Street's most accurate analysts have provided their views on three high-yielding consumer staples stocks: Cal-Maine Foods, Inc. (CALM), Altria Group, Inc. (MO), and Walgreens Boots Alliance, Inc. (WBA). These stocks offer dividend yields of 3.30%, 9.01%, and 5.79% respectively. Recent updates include a retirement announcement from Cal-Maine Foods, a sales decline report from Altria Group, and a new collaboration between DoorDash and Walgreens.

Portfolio Pulse from Avi Kapoor

May 07, 2024 | 11:49 am

BP

EIPX

HJEN

BP PLC reported lower-than-expected first-quarter FY24 results, with sales of $48.88 billion missing the consensus of $55.08 billion and adjusted EBITDA declining to $10.3 billion from $13.1 billion a year ago. Hydrocarbons production decreased by 5.7% Y/Y, and net debt rose to $24.02 billion. Despite this, BP announced a dividend and completed $1.75 billion in share buybacks, expecting to buy back $3.5 billion in shares in the first half of 2024. The company's outlook for FY24 includes slightly higher reported and underlying upstream production and a capital expenditure of around $16 billion.

Portfolio Pulse from Lekha Gupta

May 07, 2024 | 11:34 am

BHR

Braemar Hotels & Resorts Inc. (BHR) announced a shareholder value plan including the sale of Hilton Torrey Pines for $165 million, repayment of 2024 debt, a $50 million preferred share redemption, and a $50 million common share buyback authorization.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 8:43 am

ARTNA

Artesian Resources has announced an increase in its quarterly dividend from $0.28975 to $0.2955.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 9:18 pm

EVRI

IGT

Everi Holdings Inc. (EVRI) has terminated its stock repurchase program effective May 2, 2024, having repurchased $100 million of its common stock. The company also announced a mandatory sell-to-cover policy for tax withholdings on RSUs and PSUs, effective May 1, 2024, to retain cash for a potential Special Dividend related to its merger with International Game Technology PLC (IGT) and other entities. The Special Dividend will be based on various financial metrics and the company's cash position at the merger's closing.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 8:55 pm

CBT

Cabot Corporation's board has approved an increase in its quarterly dividend from $0.40 to $0.43 per share.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 8:27 pm

WMB

Williams (WMB) projects its Adjusted EBITDA for 2025 to be between $7.2B-$7.6B, with growth capex of $1.65B-$1.95B and maintenance capex of $750M-$850M, including $100M for emissions reduction and modernization. For 2024, it expects Adjusted EBITDA in the top half of $6.8B-$7.1B, with growth capex of $1.45B-$1.75B and maintenance capex of $1.1B-$1.3B, including $350M for similar initiatives. The leverage ratio midpoint for 2024 is anticipated at 3.85x, and the dividend has been increased by 6.1% to $1.90 from $1.79 in 2023.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 8:27 pm