Streetbeat News

Dividends

REXR

Rexford Industrial Realty has announced an increase in its quarterly dividend from $0.38 to $0.4175, signaling a positive outlook on its financial health and commitment to returning value to shareholders.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 9:11 pm

XOM

BofA Securities analyst Doug Leggate maintains a Buy rating on Exxon Mobil Corp (XOM) with a price target of $140, following its Q4 results. The company's Guyana project is expected to significantly contribute to free cash flow, potentially doubling it by 2027 compared to 2019. Despite a decrease in Q4 adjusted net profit and revenue, the project, along with strategic acquisitions, is anticipated to lower Exxon's post-dividend breakeven to $40 Brent by 2024. This could lead to a reset in dividend growth and share buybacks, positioning Exxon for best-in-class per share growth among peers. Leggate revised EPS estimates upwards for FY24, FY25, and FY26.

Portfolio Pulse from Lekha Gupta

February 05, 2024 | 6:06 pm

BOWL

Bowlero Corp (NYSE:BOWL) shares surged after reporting Q2 FY24 results with revenue up 11.8% Y/Y to $305.7 million, beating analyst expectations. Despite a slight EPS loss and a decrease in gross profit, the company announced a new dividend, a significant share buyback, and reiterated its FY24 outlook. The company also plans to reinvest heavily in the business, including acquisitions and new builds.

Portfolio Pulse from Lekha Gupta

February 05, 2024 | 5:10 pm

D

ENB

Enbridge Inc (NYSE:ENB) is approaching its Q4 earnings report with signs of renewed investor confidence, highlighted by a technical 'Golden Cross' indicating potential for future price appreciation. The company's stable cash flows are supported by long-term contracts and regulated utilities, with 98% of its EBITDA coming from these sources. The strategic acquisition of natural gas utilities from Dominion Energy Inc (NYSE:D) in September 2023 has diversified Enbridge's revenue streams and enhanced its exposure to regulated utility assets. This acquisition is seen as a once-in-a-generation opportunity by Enbridge's CEO, Greg Ebel. Post-acquisition, Enbridge's business mix includes 50% liquids pipelines, 25% gas transmission, 22% gas distribution, and 3% renewables. With a strong credit rating (BBB+), a well-laddered debt structure, and low debt ratios, Enbridge is financially stable and trades at a discount to historical valuations, presenting a favorable buying opportunity. The stock also offers a high forward dividend yield of 7.62%.

Portfolio Pulse from Surbhi Jain

February 05, 2024 | 4:06 pm

FSV

FirstService Corporation (NASDAQ:FSV) announced an 11% increase in its quarterly cash dividend from $0.225 to $0.25 per share, payable on April 5, 2024, to shareholders of record as of March 29, 2024. This increase raises the annualized dividend to $1.00 from the previous $0.90, continuing a track record of over 10% annual dividend growth. The company attributes this growth to its strong free cash flow and a business model focused on growth, allowing for capital return to shareholders while maintaining financial flexibility and a conservative balance sheet.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 4:01 pm

NSSC

NAPCO Security Technologies' shares surged following the announcement of impressive Q2 financial results and a hike in its quarterly dividend. The company's performance exceeded market expectations, signaling strong operational efficiency and financial health.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 3:53 pm

BOWL

Bowlero's stock is trading higher following the announcement of better-than-expected Q2 revenue results and the reiteration of its FY24 revenue guidance. Additionally, the company has initiated a quarterly dividend of $0.055.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 3:47 pm

AAPL

GOOG

META

MSFT

Meta Platforms reported a significant rebound in its ad business and progress in its metaverse efforts with Reality Labs hitting $1 billion in revenue for the first time. Despite this, Meta faces scrutiny over its moral integrity. Other tech giants like Microsoft, Google, Apple, and Amazon also reported their earnings, with mixed results. Meta's revenue jumped 25% YoY to $40.1 billion, surpassing estimates, and its net income more than tripled to $14 billion. Meta announced its first-ever dividend and provided a positive outlook for future sales and expenses.

Portfolio Pulse from Upwallstreet

February 05, 2024 | 3:08 pm

SLP

Simulations Plus (NASDAQ:SLP) is set to distribute a dividend of $0.06 per share on February 5, 2024, with an annualized yield of 0.54%. The company has maintained a steady dividend per share of $0.24 from 2020 to 2023, alongside a positive trend in earnings growth from $0.54 to $0.64 per share over the same period. This indicates a stable financial condition and a commitment to rewarding shareholders.

Portfolio Pulse from Benzinga Insights

February 05, 2024 | 3:05 pm

HSBC

PNC

PNC Financial Services Group (NYSE:PNC) announced a dividend payout of $1.55 per share with an annualized yield of 4.09%, payable on February 5, 2024, to shareholders of record as of January 16, 2024. The company has shown a positive trend in dividend per share from $4.60 in 2020 to $6.10 in 2023 and an increase in earnings per share from $6.41 to $14.43 over the same period. This indicates a strong financial position and the potential for future dividend increases. HSBC Holdings (NYSE:HSBC) has the highest annualized dividend yield among its peers at 6.73%.

Portfolio Pulse from Benzinga Insights

February 05, 2024 | 3:05 pm