Streetbeat News

Dividends

AYI

Acuity Brands, Inc. (NYSE:AYI) is set to announce its Q2 earnings on April 3, 2024, with expected earnings of $3.25 per share, up from $3.06 the previous year, and projected revenue of $908.75 million. The company recently increased its quarterly dividend to 15 cents per share and authorized an additional 3 million share repurchase. To earn a $500 monthly dividend from Acuity Brands, an investor would need to own approximately 10,000 shares, valued at $2,651,400. The article also explains how dividend yield changes with stock price and dividend payment adjustments. AYI's stock fell 1.3% to close at $265.14 recently.

Portfolio Pulse from Avi Kapoor

April 02, 2024 | 1:56 pm

PVH

PVH Corp. (NYSE:PVH) shares fell after issuing weak Q1 guidance despite beating Q4 earnings and revenue expectations. The company reported Q4 earnings of $3.72 per share and revenues of $2.49 billion, with Tommy Hilfiger and Calvin Klein seeing revenue increases. However, PVH projects a Q1 EPS of $2.15 and a revenue decrease of about 11%, with a full-year revenue decrease of 6% to 7%. The board approved a $2.0 billion increase to the stock repurchase program.

Portfolio Pulse from Nabaparna Bhattacharya

April 02, 2024 | 1:53 pm

GE

GEV

NETZ

PPA

GE Aerospace (NYSE:GE) has officially launched as an independent public company following the spin-off of GE Vernova (NYSE:GEV). Both companies will ring the NYSE opening bell on April 2, 2024. GE Aerospace, with a significant global presence in commercial and military engines, expects a $10 billion operating profit by 2028 and plans to return 70%-75% of available funds to shareholders this year. GE Vernova, focusing on power generation, aims for mid-single digit organic revenue growth and a 10% adjusted EBITDA margin by 2028. TCW Transform Systems ETF (BATS:NETZ) and Invesco Aerospace & Defense ETF (NYSE:PPA) offer exposure to these stocks.

Portfolio Pulse from Lekha Gupta

April 02, 2024 | 1:27 pm

MLR

Miller Industries, Inc. (NYSE:MLR) announced a new $25 million share repurchase program, reflecting confidence in the company's financial performance and commitment to maximizing shareholder value. This follows a 5.6% increase in quarterly dividends last quarter, with the repurchase program allowing for discretionary purchases through various means. The program, which has no expiration date, underscores the Board's belief in the company's strong business fundamentals and market position.

Portfolio Pulse from Benzinga Newsdesk

April 02, 2024 | 12:38 pm

EMN

KRO

SMG

Wall Street's most accurate analysts have provided updates on three materials sector stocks with over 3% dividend yields: Kronos Worldwide, Inc. (KRO), Eastman Chemical Company (EMN), and The Scotts Miracle-Gro Company (SMG). KRO received an Underweight and a Sell rating with increased price targets, following better-than-expected Q4 results. EMN maintained Buy ratings with slightly adjusted price targets after being selected for a significant investment by the US Department of Energy. SMG was downgraded to Market Perform by Raymond James and had its price target cut by Barclays, after posting a narrower-than-expected quarterly loss.

Portfolio Pulse from Avi Kapoor

April 02, 2024 | 12:02 pm

UMH

UMH Properties, Inc. (NYSE:UMH) announced a 4.9% increase in its quarterly dividend to $0.215 per share, payable on June 17, 2024. This marks the fourth consecutive annual increase, supported by three quarters of normalized FFO per share growth in 2023. The company anticipates future growth in occupancy, revenue, and earnings, citing the high demand for manufactured homes.

Portfolio Pulse from Benzinga Newsdesk

April 01, 2024 | 8:34 pm

AAME

Atlantic American Corporation (AAME) reported a Q4 net loss of $2.2 million, or ($0.11) per diluted share, compared to a net income of $1.0 million, or $0.05 per diluted share, in the same period last year. Annual revenue increased to $46.75M from $45.23M YoY, but the company experienced a net loss of $0.2 million for the year, down from a net income of $1.5 million in the previous year. The losses were attributed to increased insurance benefits and losses, higher debt service costs due to rising interest rates, and a decrease in earned premiums. Despite these challenges, the company announced an annual dividend of $0.02 per share, payable in April 2024.

Portfolio Pulse from Benzinga Newsdesk

April 01, 2024 | 8:24 pm

OZK

OZKAP

Bank OZK announced an increase in its quarterly common stock dividend from $0.38 to $0.39 per share, marking the 55th consecutive quarter of dividend growth. Additionally, a dividend for its Series A Preferred Stock was declared at $0.28906 per share. Bank OZK's consistent dividend growth has secured its place in the S&P High Yield Dividend Aristocrats index since January 2018.

Portfolio Pulse from Benzinga Newsdesk

April 01, 2024 | 8:20 pm

DWSN

Dawson Geophysical's shares surged following the announcement of improved Q4 financial results compared to last year. Additionally, the company announced a $0.32 special cash dividend.

Portfolio Pulse from Benzinga Newsdesk

April 01, 2024 | 5:09 pm

HTCR

Heartcore Enterprises announced a dividend payment of $0.02 per share of common stock, leading to an increase in its share price.

Portfolio Pulse from Benzinga Newsdesk

April 01, 2024 | 4:57 pm