Streetbeat News

Dividends

CIG

ENIC

HE

SPH

TAC

Benzinga Insights identifies value stocks in the utilities sector based on low P/E ratios. Cia Energetica DE Minas (CIG), Hawaiian Electric Indus (HE), Enel Chile (ENIC), TransAlta (TAC), and Suburban Propane Partners (SPH) are highlighted for their P/E values and recent financial performance, including changes in earnings per share and dividend yields.

Portfolio Pulse from Benzinga Insights

December 20, 2023 | 2:39 pm

KVUE

Kenvue Inc. (NYSE:KVUE) stock has seen a 1.4% increase on Dec. 13, closing at $21.04 after-hours, but has dropped about 22% year-to-date. The stock's 52-week range was $17.82 to $27.80. Kenvue has maintained a dividend yield of 1.98%, with a $0.40 per share payout, totaling $383 million in dividend expenses from January to September. To earn $1,000 per month from dividends, an investment of approximately $606,061 is required, equating to 28,805 shares at the current price.

Portfolio Pulse from Shankar Iyer

December 20, 2023 | 2:30 pm

CCLD

CareCloud, Inc. has revised its annual revenue guidance from $120M-$122M to approximately $117M, which is below the estimated $120.28M. The company attributes the revision primarily to its project-oriented professional business line. Despite this, CareCloud continues to generate positive cash flow and expects to meet its adjusted EBITDA guidance of $15-$17M. The company has suspended dividend payments on its preferred stock to stabilize liquidity and comply with lender loan covenants, with plans to resume dividends towards the end of 2024. CareCloud is focusing on growth initiatives and operational improvements for future success.

Portfolio Pulse from Benzinga Newsdesk

December 20, 2023 | 2:06 pm

COST

Costco Wholesale Corporation (NASDAQ:COST) reported Q1 earnings surpassing expectations and announced a special dividend of $15 per share. Net sales rose 6.1% YOY, with revenue at $57.8 billion, beating estimates. Adjusted earnings were $3.48 per share, above the forecasted $3.42. Analysts from UBS, Citigroup, Stifel, Truist Securities, DA Davidson, and BMO Capital raised price targets for COST. The article also explains how owning Costco shares can generate monthly dividend income, using $500 and $100 as examples, and discusses how dividend yield fluctuates with stock price and dividend changes. COST shares dropped 0.5% to close at $677.74 on Tuesday.

Portfolio Pulse from Avi Kapoor

December 20, 2023 | 12:46 pm

NXST

OMC

SBGI

Analysts have provided ratings for high-yield dividend stocks in the tech and telecom sector. Nexstar Media Group (NXST) has a dividend yield of 3.38% and received a Neutral rating from Citigroup and a Buy from Rosenblatt. Omnicom Group (OMC) with a 3.23% yield was rated Buy by Citigroup and Equal-Weight by Morgan Stanley. Sinclair (SBGI) offers a 7.45% yield and was rated Buy by Benchmark and Hold by Deutsche Bank. Recent news includes Nexstar launching NextGen TV in NYC, Omnicom's upbeat Q3 earnings, and Sinclair's Diamond Sports in talks with Amazon for a partnership.

Portfolio Pulse from Avi Kapoor

December 20, 2023 | 12:42 pm

WEC

WEC Energy's Board of Directors plans to increase the quarterly dividend on its common stock by 7% to 83.50 cents per share in Q1 of 2024, which is a 5.5 cents rise per share.

Portfolio Pulse from Benzinga Newsdesk

December 20, 2023 | 12:39 pm

WOR

WS

Worthington Enterprises Inc (NYSE:WOR) reported Q2 FY24 sales of $1.086 billion, surpassing analyst estimates of $1.035 billion. The company recently spun off its Steel Processing business, Worthington Steel, Inc. (NYSE:WS), into a separate entity. The sales decline of 7.5% was mainly due to lower average selling prices in Steel Processing, partially offset by higher volumes. Gross profit rose 17% to $123.7 million, and the operating loss narrowed. Adjusted EPS of $0.78 beat estimates of $0.71. Worthington declared a quarterly dividend of $0.16 per share. WOR shares closed up 3.47% at $58.51.

Portfolio Pulse from Shivani Kumaresan

December 20, 2023 | 11:46 am

WGO

Winnebago Industries, Inc. (NYSE:WGO) is expected to report Q1 fiscal 2024 earnings of $1.17 per share, down from $2.07 per share a year ago, with revenue estimated at $723.82 million versus $857.38 million. The board approved a dividend of 31 cents per share. Shares rose 2.4% to $74.83. Analysts have revised price targets: BMO Capital to $80, Roth MKM to $58, Citigroup to $73, Truist Securities to $74, and Northcoast Research downgraded the stock to Neutral.

Portfolio Pulse from Avi Kapoor

December 20, 2023 | 6:49 am

FMAO

Farmers & Merchants Bancorp, Inc. (NASDAQ:FMAO) has announced a 4.8% increase in its quarterly cash dividend, raising it from $0.21 to $0.22 per share. This marks the 29th consecutive year of dividend increases for the company. The dividend is payable on January 20, 2024, to shareholders of record as of December 29, 2023. The company's President and CEO highlighted the strong financial results and commitment to shareholder returns.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 9:46 pm

FULT

Fulton Financial has announced an increase in its quarterly cash dividend from $0.16 to $0.17 per share on its common stock, representing approximately a 1% increase. The dividend will be payable on January 12, 2024, to shareholders of record as of January 2, 2024.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 9:37 pm