Streetbeat News

Dividends

LQR

LQR House has scheduled a board meeting to discuss the issuance of a special dividend of up to $1.00 per share. The announcement indicates a potential return of capital to shareholders, which could be a positive signal about the company's financial health and its ability to generate excess cash. The exact amount, timing, and conditions of the dividend will likely be determined during the meeting.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 1:51 pm

CAKE

DRI

VAC

Wall Street's most accurate analysts have provided ratings for three consumer discretionary stocks with over 3% dividend yields. Darden Restaurants (DRI) received an Outperform rating from Oppenheimer and a Buy from Truist Securities, with recent upbeat earnings. The Cheesecake Factory (CAKE) was upgraded to Outperform by Wedbush despite downbeat quarterly results. Marriott Vacations Worldwide (VAC) saw a downgrade to Equal-Weight by Barclays and a maintained Buy rating from Truist Securities, with a new board member appointment.

Portfolio Pulse from Avi Kapoor

January 08, 2024 | 1:51 pm

AYI

Acuity Brands, Inc. (NYSE:AYI) is anticipated to release its fiscal 2024 Q1 earnings on Jan. 9, 2023, with expected earnings of $3.22 per share on revenue of $937.70 million. Wells Fargo analyst Joseph O'Dea has maintained an Overweight rating and raised the price target from $200 to $236. The company previously reported better-than-expected earnings for Q4 2023. Acuity Brands offers a dividend yield of 0.25%, with a quarterly dividend of 13 cents per share. To earn $500 a month in dividends, an investor would need to own approximately 11,538 shares, valued at $2,369,674. AYI shares rose 0.9% to close at $205.38 on Friday.

Portfolio Pulse from Avi Kapoor

January 08, 2024 | 1:46 pm

FMS

Fresenius Medical Care (FMS) has made significant progress in its Portfolio Optimization Program by divesting noncore assets and exiting certain markets. The company sold its operations in Argentina to Grupo Olmos, its National Cardiovascular Partners (NCP) business in the US, and signed a deal to sell Cura Day Hospitals Group in Australia to ICG and a consortium. These divestitures, which include 127 facilities and over 4,500 employees, are expected to generate around EUR 500 million in proceeds, with EUR 135 million recognized in Q4 2023. The divestments will result in a EUR 50 million operating income impact treated as a special item. The optimization aims to improve the leverage ratio and focus on more profitable and strategically fitting businesses.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 1:37 pm

IHT

InnSuites Hospitality Trust (NYSE:IHT) declared a semi-annual dividend of $0.01 per share, continuing a 54-year streak of annual dividends. The dividend is payable on February 5, 2024, to shareholders on record as of January 22, 2024. Additionally, IHT reported its highest ever December hotel revenue of $524,219 and mentioned progress in its UniGen clean energy investment.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 11:31 am

CMC

Commercial Metals Company (NYSE:CMC) is expected to report Q1 fiscal 2024 earnings of $1.45 per share, down from $2.24 the previous year, with revenue estimated at $1.89 billion. The company has declared a quarterly dividend of $0.16 per share. CMC's stock price slightly declined by 0.1% to $48.22 recently. Analysts from Citigroup, Keybanc, and Goldman Sachs have provided ratings and price target changes, with Citigroup and Keybanc being less optimistic and Goldman Sachs increasing its price target.

Portfolio Pulse from Avi Kapoor

January 08, 2024 | 8:28 am

AGL

ANGO

APLT

ELAN

MPW

Applied Therapeutics, Inc. (NASDAQ:APLT) shares plummeted by over 35% after announcing topline results from the ARISE-HF Phase 3 trial of AT-001, which did not meet its primary endpoint. Other stocks experienced significant movement in Friday's mid-day session, with various companies reporting gains due to positive updates, acquisitions, and earnings, while some faced declines due to negative guidance, downgrades, and public offerings.

Portfolio Pulse from Avi Kapoor

January 05, 2024 | 6:13 pm

MRK

MRNA

WBA

Healthcare stocks Moderna Inc (MRNA) and Merck & CO Inc (MRK) have seen positive movements with MRNA upgraded by Oppenheimer and MRK announcing phase 3 trials for its candidates. Moderna, after a tough 2023, is expected to launch new products in the next 12-18 months, including a cancer vaccine in partnership with Merck. Walgreens Boots Alliance (WBA) reported improved Q1 results but cut its dividend, causing its stock to drop.

Portfolio Pulse from Upwallstreet

January 05, 2024 | 6:06 pm

GBX

Shares of Greenbrier Companies Inc (NYSE:GBX) rose approximately 8% after reporting Q1 FY24 results with revenue of $808.8 million, surpassing the consensus of $849.9 million. The company's lease fleet utilization was at 98%, and the fleet size grew by 700 units. GBX secured orders for 5,100 new railcars valued at $710 million and delivered 5,700 units. The backlog as of Nov. 30, 2023, was 29,700 units worth $3.8 billion. Adjusted EBITDA was $93.2 million with an 11.5% margin, and adjusted EPS of $0.96 missed the consensus of $0.73. Cash and equivalents were $307.3 million, and a dividend of 30 cents per share is payable on Feb. 15, 2024. The FY24 outlook remains positive with expected revenue of $3.40 billion to $3.70 billion and delivery targets of 22,500 to 25,000 units.

Portfolio Pulse from Lekha Gupta

January 05, 2024 | 4:22 pm

HWKN

Hawkins Inc. (NASDAQ: HWKN) has seen increased institutional holdings, with firms like Charles Schwab Investment Management, Citadel Advisors, and Renaissance Technologies adding to their positions. Hawkins reported strong Q2 FY24 earnings with record gross profit and operating income, and growth in its Water Treatment segment. The company has a history of dividend growth and share repurchases, maintaining a low payout ratio. Management's compensation aligns with shareholder interests, and the company boasts high ROE and ROIC. Hawkins has solid financial health with low debt and is expected to grow due to capital expenditures. A reverse discounted cash flow analysis suggests that HWKN is undervalued, with a potential implied return of nearly 60%.

Portfolio Pulse from Quiver Quantitative

January 05, 2024 | 3:23 pm