Streetbeat News

Dividends

ATKR

Atkore Inc (NYSE:ATKR) reported a Q4 FY23 revenue decline of 15.5% Y/Y to $869.9 million, missing the consensus of $920.4 million. The decline was attributed to lower average selling prices and the economic value of solar tax credits. Adjusted EBITDA fell 28.6% Y/Y, and the adjusted EBITDA margin contracted by 490bps. However, adjusted EPS of $4.21 beat the consensus of $4.08. The company announced a new quarterly dividend program with the first payment expected in CY Q1 2024. Atkore provided FY24 guidance with net sales of $3.50 billion - $3.65 billion and adjusted EPS of $16.00-$17.00, and maintained its FY25 adjusted EPS target of greater than $18.00. Shares fell by 8.3% to $124.

Portfolio Pulse from Lekha Gupta

November 17, 2023 | 2:37 pm

WMT

Walmart Inc (NYSE:WMT) reported a 5.2% year-over-year sales growth for Q3 FY24, with sales of $160.8 billion surpassing the consensus of $159.55 billion. Adjusted EPS was $1.53, beating last year's $1.50 and the consensus of $1.52. The company raised its FY24 adjusted EPS guidance to $6.40-$6.48 and net sales growth outlook to 5.0%-5.5%. Walmart's current dividend yield is 1.46%, with a quarterly dividend of 57 cents per share. To earn $500 monthly from dividends, an investor would need 2,632 shares, valued at approximately $410,697. Walmart shares fell 8.1% to close at $156.04 on Thursday.

Portfolio Pulse from Lisa Levin

November 17, 2023 | 1:43 pm

CCOI

IPG

NXST

The article discusses three high-yielding dividend stocks in the tech and telecom sector, as rated by Wall Street's most accurate analysts according to Benzinga's Analyst Stock Ratings. Cogent Communications Holdings, Inc. (CCOI) has a dividend yield of 5.74% and received mixed ratings from Keybanc and JP Morgan analysts. The Interpublic Group of Companies, Inc. (IPG) offers a 4.16% dividend yield, with Citigroup and Morgan Stanley analysts providing their ratings. Nexstar Media Group, Inc. (NXST) has a 3.67% dividend yield, with Rosenblatt and Benchmark analysts reiterating Buy ratings. The article also mentions recent news for each company, including Cogent's wider-than-expected Q3 loss, Interpublic's mixed Q3 results, and Nexstar's Q3 revenue decline.

Portfolio Pulse from Lisa Levin

November 17, 2023 | 1:32 pm

HUGE

FSD Pharma Inc. announced the distribution date for Celly Nutrition Corp. shares to its securityholders as part of a plan of arrangement. The distribution date is set for November 29, 2023, with a record date of November 28, 2023, and an ex-dividend date of November 27, 2023. Eligible holders of FSD Pharma shares and certain warrants will receive one Celly Nu Share for each share or warrant held. Approximately 45.7 million Celly Nu Shares will be distributed, with FSD Pharma retaining about 154.3 million shares. The arrangement will be voted on at a special meeting on November 20, 2023, and requires final court approval on November 24, 2023.

Portfolio Pulse from Benzinga Newsdesk

November 17, 2023 | 1:05 pm

BRK

JNJ

Hedge fund billionaires, including Warren Buffett and Ray Dalio, have been selling shares of Johnson & Johnson (JNJ) in the third quarter, as revealed by recent 13F filings. JNJ, a dividend king and Fortune’s World's Most Admired Company in 2023, has seen a decrease in hedge fund holdings. Buffett's Berkshire Hathaway (BRK) fully exited its position, while Dalio's Bridgewater Associates and other firms like Lazard Asset Management and Alliancebernstein reduced their stakes. Challenges such as upcoming patent expiration and litigation issues may be influencing these decisions.

Portfolio Pulse from Surbhi Jain

November 17, 2023 | 12:58 pm

ATKR

Atkore has approved a new quarterly dividend program and anticipates declaring and paying its first quarterly cash dividend in the first quarter of fiscal year 2024, following the earnings announcement.

Portfolio Pulse from Benzinga Newsdesk

November 17, 2023 | 11:10 am

DDS

Dillard's, Inc. has declared a special one-time dividend of $20 per share and a regular quarterly cash dividend of $0.25 per share. This announcement could indicate strong financial health and a commitment to returning value to shareholders, potentially affecting the company's stock price positively in the short term.

Portfolio Pulse from Benzinga Newsdesk

November 16, 2023 | 9:23 pm

MSI

Motorola Solutions' Board of Directors has announced an 11% increase in its quarterly dividend to $0.98 per share. Additionally, the Board has approved a $2 billion increase to the company's share repurchase program.

Portfolio Pulse from Benzinga Newsdesk

November 16, 2023 | 9:13 pm

AMSWA

American Software has entered into an agreement to divest its transportation rating solutions. This move is in line with the company's strategy to focus on AI-first supply chain technology solutions.

Portfolio Pulse from Benzinga Newsdesk

November 16, 2023 | 5:05 pm

BBWI

Bath & Body Works Inc (NYSE:BBWI) reported a slight decline in Q3 FY23 sales but beat the analyst EPS estimate. Sales decreased by 2.7% Y/Y to $1.562 billion, with a marginal beat over the consensus estimate of $1.560 billion. Adjusted EPS was $0.48, surpassing the $0.35 estimate. The company announced a regular quarterly dividend of $0.20 per share. However, the Q4 outlook is weaker than expected, with projected sales decline and EPS below consensus, leading to a 5.03% drop in BBWI shares to $30.67.

Portfolio Pulse from Shivani Kumaresan

November 16, 2023 | 4:03 pm