Streetbeat News

Dividends

TGT

Target Corp (NYSE:TGT) shares rose after reporting Q4 FY23 revenue of $31.92 billion, surpassing estimates. Despite a 4.4% decline in comparable sales, gross margin expanded to 25.6% due to lower costs and favorable category mix. Operating income increased by 60.9% to $1.86 billion, with adjusted EPS of $2.98 beating estimates. The company holds $3.8 billion in cash and paid $508 million in dividends. Target did not repurchase any shares in Q4 but has $9.7 billion left in its repurchase program. FY24 EPS is projected at $8.60 - $9.60, with 0% - 2% growth in comparable sales. TGT shares surged 8.25% in premarket trading.

Portfolio Pulse from Shivani Kumaresan

March 05, 2024 | 12:48 pm

WSR

Whitestone REIT (WSR) has announced a 3% increase in its annual cash dividend to $0.495 per share, translating to a quarterly dividend of $0.12375 per share, starting from the second quarter of 2024.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 12:42 pm

GSL

Global Ship Lease Inc (NYSE:GSL) reported Q4 FY23 results with an 8.4% Y/Y increase in operating revenue to $178.9 million, surpassing consensus estimates. However, operating income fell to $78.9 million from $85.1 million Y/Y. Adjusted EBITDA and normalized EPS both saw significant increases. The company declared a dividend of $0.375 per share, payable in March 2024. Trade disruptions in the Red Sea and water shortages in the Panama Canal have tightened containership supply and demand, impacting charter rates and asset values. Despite positive financial results, GSL shares dropped 6.6% to $19.24.

Portfolio Pulse from Lekha Gupta

March 04, 2024 | 4:38 pm

IP

SON

TROX

Wall Street's most accurate analysts recommend three high-dividend yielding materials stocks: International Paper Company (IP), Tronox Holdings plc (TROX), and Sonoco Products Company (SON). IP reported lower than expected Q4 sales, TROX posted upbeat quarterly sales, and SON reported downbeat Q4 earnings. Analysts have adjusted their price targets and ratings for these stocks, reflecting their performance and market outlook.

Portfolio Pulse from Avi Kapoor

March 04, 2024 | 4:31 pm

GOOG

GOOGL

META

MSFT

Alphabet Inc (GOOG, GOOGL) faces market volatility due to AI product Gemini's issues and leadership scrutiny, despite a +52% growth last year. JPMorgan maintains an 'Overweight' rating with a $165 target, citing challenges in Gen AI, cost re-engineering, and potential for a dividend. Google aims to close the Gen AI gap with Microsoft (MSFT) and OpenAI, amidst online ad market shifts and comparisons with Meta Platforms (META). A dividend could attract a broader investor base, contingent on business performance improvements.

Portfolio Pulse from Surbhi Jain

March 04, 2024 | 3:21 pm

HNNA

OCCI

Hennessy Advisors (NASDAQ:HNNA) announced a dividend payout of $0.14 per share with an annualized yield of 8.33%. Despite maintaining a steady dividend per share of $0.55 from 2020 to 2023, the company's earnings per share decreased from $1.06 to $0.63, indicating potential challenges in sustaining future dividends. Hennessy Advisors's dividend yield is in the middle range compared to its peers, with OFS Credit Co (NASDAQ:OCCI) having the highest yield at 16.46%.

Portfolio Pulse from Benzinga Insights

March 04, 2024 | 3:05 pm

VLGEA

WMK

Weis Markets (NYSE:WMK) announced a dividend payout of $0.34 per share with an annualized yield of 2.27%, payable to shareholders on record as of February 19, 2024. The company has shown a steady increase in dividend per share from 2020 to 2023, despite a decrease in earnings per share over the same period. This suggests a commitment to returning capital to shareholders even amidst declining profitability. Village Super Market (NASDAQ:VLGEA) is mentioned as having the highest annualized dividend yield at 3.81% among industry peers.

Portfolio Pulse from Benzinga Insights

March 04, 2024 | 3:05 pm

EQH

NEWT

Equitable Hldgs (NYSE:EQH) announced a dividend payout of $0.22 per share with an annualized yield of 2.66%. The company has shown a commitment to increasing shareholder value through rising dividends, despite a slight decrease in earnings per share from $4.69 in 2020 to $4.64 in 2023. This trend places Equitable Hldgs's dividend yield in the middle range compared to industry peers, with NewtekOne (NASDAQ:NEWT) having the highest yield at 6.37%.

Portfolio Pulse from Benzinga Insights

March 04, 2024 | 3:05 pm

CALM

SEB

Seaboard (AMEX:SEB) maintains a consistent dividend payout of $2.25 per share, with an annualized yield of 0.25%, despite lagging behind industry peers like Cal-Maine Foods (NASDAQ:CALM) in dividend yield. Seaboard's earnings have shown positive growth from 2020 to 2023, suggesting a strong financial health and potential for future dividend increases.

Portfolio Pulse from Benzinga Insights

March 04, 2024 | 3:05 pm

PATK

SMP

Patrick Industries (NASDAQ:PATK) announced a dividend payout of $0.55 per share with an annualized yield of 2.14%, payable on March 04, 2024, to shareholders of record as of February 20, 2024. The company has shown a positive trend in both dividend per share and earnings per share from 2020 to 2023, indicating strong financial health and a commitment to enhancing shareholder value. Standard Motor Products (NYSE:SMP) has the highest annualized dividend yield among industry peers at 3.73%.

Portfolio Pulse from Benzinga Insights

March 04, 2024 | 3:05 pm