Streetbeat News

Dividends

UTZ

Utz Brands has announced an increase in its annual cash dividend from $0.228 to $0.236 per share, with a quarterly dividend of $0.059 per share on Class A Common Stock, payable on May 2, 2024, to stockholders of record as of April 15, 2024.

Portfolio Pulse from Benzinga Newsdesk

March 28, 2024 | 8:07 pm

KMB

Piper Sandler analyst Korinne Wolfmeyer has reiterated an Overweight rating on Kimberly-Clark Corp (NYSE:KMB) and increased the price target from $145 to $152. The company is adopting a new operating model to accelerate innovation, optimize costs, and reorganize into three business segments. Expected savings of $200 million over the next two years will be reinvested into the business. Strategies include focusing on low private-label penetration categories, global scaling of innovations, and mergers & acquisitions. The company aims for 3%+ top line growth, margin expansion, and more than $2 billion in annual free cash flow, supporting dividend growth and share repurchases. KMB shares rose 1.91% to $129.71.

Portfolio Pulse from Shivani Kumaresan

March 28, 2024 | 6:12 pm

So-Young International Inc. (NASDAQ:SY) reported a pivot to profitability and a focus on high-end services, leading to a 19% revenue increase last year. The launch of So-Young Prime and a strategic shift away from smaller clinics contributed to this success. Despite challenges from COVID-19 and regulatory crackdowns, the company's shift towards premium services and direct provision of cosmetic products and services shows promise. A $25 million share repurchase and a special cash dividend were announced, although a modest revenue growth forecast tempers optimism.

Portfolio Pulse from The Bamboo Works

March 28, 2024 | 2:55 pm

DOOO

BRP Inc. (NASDAQ:DOOO) reported Q4 FY24 earnings with adjusted EPS of $1.82, missing expectations of $1.92, and revenues of $1.992 billion, below the $2.05 billion forecast. Year-over-year, revenues fell 12.5% due to lower volume across most product lines, impacted by late shipments, softening demand, and unfavorable winter conditions. Gross profit and margin, as well as Normalized EBITDA, also decreased. Despite this, BRP declared a quarterly dividend and provided FY25 revenue and EPS guidance below estimates, expecting a significant drop in Q1 2025 EBITDA. Shares rose 6.96% to $68.08.

Portfolio Pulse from Nabaparna Bhattacharya

March 28, 2024 | 2:16 pm

Verizon Communications Inc. (VZ) shares closed higher amid stock market strength. The company is expected to report Q1 2024 earnings with a slight decrease in EPS but an increase in revenue. Analyst Steve Malcolm upgraded Verizon to Neutral with a $39 price target. Verizon's dividend yield stands at 6.40%, with calculations showing the number of shares needed to earn $500 or $100 monthly from dividends. The dividend yield fluctuates with stock price and dividend payment changes.

Portfolio Pulse from Avi Kapoor

March 28, 2024 | 12:31 pm

AVTX

GCTS

MLKN

RH shares surged 9.4% in pre-market trading after releasing Q4 results and an upbeat full-year 2024 forecast, despite weaker-than-expected Q4 results. Other stocks showed significant movement in pre-market trading, with notable gainers including Avalo Therapeutics and Binah Capital Group, and losers like GCT Semiconductor Holding and MillerKnoll.

Portfolio Pulse from Avi Kapoor

March 28, 2024 | 12:21 pm

HONE

HarborOne Bancorp, Inc. (HONE) announced an increase in its quarterly dividend from $0.075 to $0.08 per share, a 6.7% rise, payable on April 24, 2024, to shareholders of record as of April 10, 2024. The increase reflects the company's strong and projected earnings.

Portfolio Pulse from Benzinga Newsdesk

March 28, 2024 | 12:13 pm

MSM

TRN

UPS

Wall Street's most accurate analysts recommend three industrial stocks with over 3% dividend yields: Trinity Industries, Inc. (TRN), United Parcel Service, Inc. (UPS), and an incorrect mention of MSM instead of MSC Industrial Direct. TRN and UPS have seen positive analyst ratings and price target adjustments based on recent financial performances and future targets. MSC Industrial Direct is anticipated to release quarterly earnings soon.

Portfolio Pulse from Avi Kapoor

March 28, 2024 | 11:37 am

AUMN

CLF

FCX

FMST

GOLD

Foremost Lithium Resource & Technology (FMST) reports significant drilling progress in Manitoba, aiming for an updated resource estimate. Barrick Gold (GOLD) exits the El Quevar silver project agreement with Golden Minerals (AUMN), effective April 20, 2024. Cleveland-Cliffs (CLF) increases steel prices by $60 per net ton. Freeport-McMoRan (FCX) announces a 15-cents-per-share dividend, payable on May 1, 2024.

Portfolio Pulse from Austin DeNoce

March 27, 2024 | 9:46 pm

AADR

GREK

TNP

Tsakos Energy Navigation Ltd (NYSE:TNP) reported Q4 FY23 Voyage revenue of $220.2 million, surpassing consensus estimates but down from the previous year. EPS was $0.85, below last year's $3.17 and the consensus of $1.72. The company operated six fewer vessels than in 2022, impacting its adjusted EBITDA, which was $124 million compared to $159 million in the prior year. Fleet utilization increased to 98.3%, and the average daily TCE rate per vessel was $35,565. TNP announced a semi-annual dividend of $0.60 per share for June 2024, double the amount from 2023. Additionally, TNP has contracted to build a new suezmax DP2 Shuttle Tanker for delivery in 2026. TNP shares dropped 0.39% to $25.51. Investors can also gain exposure through AADR and GREK ETFs.

Portfolio Pulse from Lekha Gupta

March 27, 2024 | 5:24 pm