Streetbeat News

Dividends

CMCSA

TMUS

Citigroup analyst Michael Rollins is bullish on Comcast Corp (NASDAQ:CMCSA), maintaining a Buy rating and raising the price target from $51 to $53. Rollins' optimism is based on Comcast's strong fourth-quarter FY23 results, which surpassed consensus estimates, and the company's increased dividend and new $15 billion share repurchase program. He anticipates revenue growth to be weighted towards the second half of the year due to the Olympics and elections, and expects broadband revenue growth from targeted ARPU expansion. Despite a slight negative expectation for subscriber volumes, Comcast is seen as well-positioned to improve value over the next 12 months, especially with its solid Cable financials and under-appreciated Content and entertainment segment.

Portfolio Pulse from Anusuya Lahiri

January 30, 2024 | 6:31 pm

MA

V

Mastercard Inc (NYSE:MA) is set to report Q4 earnings on Jan. 31 with expectations of $3.08 EPS and $6.48 billion in revenues. The stock has reached all-time highs, up 20% over the past year, slightly behind Visa Inc's (NASDAQ:V) 21.20% gain. Visa recently exceeded Q1 earnings expectations but saw a 2.5% stock decline post-announcement due to weaker-than-expected payment volumes. Analysts will focus on Mastercard's margin profile and positioning against Visa. Mastercard has a stable A+ credit rating and a history of dividend growth, but faces challenges in 2024 with potentially limited stock upside. Analyst consensus rates MA as a Buy with a target of $417.44, while recent estimates range from $462 to $510.

Portfolio Pulse from Surbhi Jain

January 30, 2024 | 6:09 pm

HUBB

Hubbell Inc (NYSE:HUBB) shares rose after reporting Q4 FY23 results with net sales of $1.35 billion, surpassing the $1.32 billion consensus. Utility Solutions and Electrical Solutions segments saw Y/Y growth. Gross profit and adjusted operating margin increased, with adjusted EPS of $3.69 beating the $3.57 consensus. Hubbell acquired Systems Control for $1.1 billion and agreed to sell its Residential Lighting business for $131 million. FY24 outlook anticipates adjusted EPS of $16.00-$16.50 and sales growth of 8%-10% Y/Y.

Portfolio Pulse from Lekha Gupta

January 30, 2024 | 5:57 pm

PNR

Pentair PLC (NYSE:PNR) reported a slight decline in Q4 fiscal 2023 net sales but showed improved profitability with a higher gross margin and operating income. Adjusted EPS exceeded consensus, and the company announced a dividend increase. Pentair provided a mixed outlook for Q1 and FY 2024, with expected sales decline in Q1 but overall growth in FY 2024. Shares traded slightly higher.

Portfolio Pulse from Akanksha Bakshi

January 30, 2024 | 5:38 pm

HP

Helmerich & Payne Inc (NYSE:HP) stock surged after reporting Q1 FY24 earnings that exceeded expectations. Revenue was $677.1 million, surpassing the $662.2 million consensus, and adjusted EPS was $0.97, beating the $0.72 consensus. The company saw increased operating income, operating cash flow, and higher revenue per day in its North America Solutions segment. HP returned $90 million to shareholders through dividends and share repurchases. The company expects modest rig count growth in fiscal 2024 due to lower projected U.S. crude oil production growth and commodity price volatility. HP shares rose 16.42% to $42.19.

Portfolio Pulse from Lekha Gupta

January 30, 2024 | 5:10 pm

CCL

Carnival Corporation (NYSE:CCL) reported record-high booking volumes since November, with increased pricing and occupancy compared to 2023. The company will reroute 12 ships from the Red Sea, affecting its adjusted EPS by $0.07 to $0.08 for 2024, mainly in Q2. Despite this, Carnival expects strong bookings to offset the rerouting impact. Carnival also redeemed its $571 million 9.875% senior secured notes due 2027, clearing all second lien debt. The stock pays a dividend with a 4.21% yield as of Jan. 30, 2024.

Portfolio Pulse from Erica Kollmann

January 30, 2024 | 5:07 pm

WMB

Williams Companies, Inc. has announced an increase in its quarterly dividend from $0.4475 to $0.4750 per share.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 4:40 pm

AOS

A.O. Smith Corp (NYSE:AOS) reported Q4 2023 revenue of $988.1 million, a 6% increase Y/Y, surpassing consensus estimates. North American sales grew by 7%, while Rest of World sales increased by 4%. Adjusted EPS was $0.97, beating the $0.96 consensus. The company has a strong cash position and reduced debt, repurchased 4.4 million shares in 2023, and plans to repurchase $300 million worth in 2024. A dividend of $0.32 per share will be paid on February 15. FY24 sales are projected between $3.97 billion and $4.05 billion, with adjusted EPS of $3.90-$4.15. Despite positive results and outlook, AOS shares dropped by 4.09% to $78.00.

Portfolio Pulse from Lekha Gupta

January 30, 2024 | 4:29 pm

BGS

CALM

B&G Foods (NYSE:BGS) is distributing a dividend of $0.19 per share today, with an annualized yield of 9.13%. The company's dividend per share decreased from $1.90 in 2020 to $0.76 in 2023, and earnings per share also declined from $2.19 in 2020 to $1.09 in 2023. This trend raises concerns about the company's financial health and future dividend sustainability. B&G Foods has the highest dividend yield compared to Cal-Maine Foods (NASDAQ:CALM), which has a yield of 5.60%.

Portfolio Pulse from Benzinga Insights

January 30, 2024 | 3:05 pm

BXP

OPI

Boston Props (NYSE:BXP) is distributing a dividend of $0.98 per share with a 5.49% yield. Shareholders eligible for the payout owned the stock before December 28, 2023. The company has maintained a steady dividend per share of $3.92 from 2020 to 2023 and experienced earnings growth from $6.79 to $7.31 per share, indicating financial health and potential for continued profit sharing with investors. Office Props IT (NASDAQ:OPI) has a higher yield at 20.65%.

Portfolio Pulse from Benzinga Insights

January 30, 2024 | 3:05 pm