Streetbeat News

Dividends

ACI

Albertsons Companies (NYSE:ACI) has announced a quarterly dividend of 12 cents per share. The stock will go ex-dividend on Tuesday, meaning it will trade lower to reflect the payout. Shareholders must own the stock prior to the ex-dividend date to be eligible for the dividend. The dividend will be paid out on August 10, 2023.

Portfolio Pulse from Benzinga Insights

July 20, 2023 | 2:45 pm

PPG

PPG's Board of Directors has approved a 3-cents-per-share increase in the company's dividend, declaring a regular quarterly dividend of 65 cents per share. This marks the company's 500th consecutive dividend payment. The company has paid uninterrupted annual dividends since 1899.

Portfolio Pulse from Happy Mohamed

July 20, 2023 | 2:44 pm

APA

AR

IMPP

OXY

VIST

Benzinga Insights has identified five value stocks in the energy sector that may be worth watching: Occidental Petroleum (OXY), Imperial Ptrl (IMPP), Antero Resources (AR), Vista Energy (VIST), and APA. These stocks have been selected based on their low price-to-earnings (P/E) multiples, indicating potential undervaluation. The report also provides recent earnings per share and dividend yield data for these companies.

Portfolio Pulse from Benzinga Insights

July 20, 2023 | 2:39 pm

TRV

Travelers Companies Inc (NYSE:TRV) reported Q2 2023 revenues of $10.1 billion, up 11% Y/Y, slightly beating the consensus of $10.02 billion. However, the company reported a net loss of $14 million compared to net income of $551 million in the previous year. Core income declined to $15 million from $625 million due to higher catastrophe losses ($1.481 billion pre-tax). Core EPS of $0.06 missed the consensus of $2.08. The company repurchased 2.2 million shares for $400 million and declared a dividend of $1.00 per share.

Portfolio Pulse from Lekha Gupta

July 20, 2023 | 1:40 pm

DFS

Discover Financial Services reported Q2 results that missed analyst expectations, despite a 21% YoY increase in revenue to $3.878 billion. The company reported earnings of $3.54 per share, lower than the estimated $3.67. Total loans grew by 19% YoY to $117.9 billion, but digital banking revenue fell by $322 million. Payment services volume and income increased. The company repurchased 6.8 million shares for $700 million and declared a quarterly cash dividend of 70 cents per share. Stephens & Co. analyst maintained a $124 price target.

Portfolio Pulse from Adam Eckert

July 20, 2023 | 1:29 pm

NEM

Newmont Corp (NYSE:NEM) reported a 12% Y/Y decline in Q2 2023 revenues to $2.68 billion, missing the consensus of $3.88 billion due to lower gold and silver sales volumes. Gold production declined 17% Y/Y, and costs rose. Adjusted EPS of $0.33 significantly missed the consensus of $0.58. The company reiterated its 2023 outlook and declared a dividend of $0.40 per share. NEM shares are trading lower by 4.01% premarket.

Portfolio Pulse from Lekha Gupta

July 20, 2023 | 1:28 pm

CCOI

IPG

YY

Three high-yielding dividend stocks in the tech and telecom sector have been highlighted by Wall Street's most accurate analysts. The stocks are The Interpublic Group of Companies, Inc. (IPG), Cogent Communications Holdings, Inc. (CCOI), and JOYY Inc. (YY). IPG has a dividend yield of 3.03%, CCOI has a yield of 5.95%, and YY has a yield of 6.16%. Recent news for these companies includes better-than-expected earnings for IPG and YY, while CCOI posted weaker-than-expected first-quarter results.

Portfolio Pulse from Lisa Levin

July 20, 2023 | 1:08 pm

JNJ

KVUE

Kenvue Inc, the former consumer unit of Johnson & Johnson, reported its first quarterly earnings since being spun off in May. Q2 sales increased 5.4% Y/Y to $4.01 billion, beating the consensus of $3.96 billion. The company also declared a $0.20 cash dividend and issued an upbeat outlook for fiscal 2023. However, KVUE shares are down 1.36% in premarket trading.

Portfolio Pulse from Vandana Singh

July 20, 2023 | 1:01 pm

BX

Blackstone Inc (NYSE:BX) reported a 43% Y/Y drop in Q2 revenues to $2.35 billion, missing the consensus of $2.41 billion. Distributable earnings fell 43% Y/Y to $1.35 billion, largely due to a 64% decline in DE from the real estate business. However, the company hit a milestone of $1 trillion in assets under management, a 6% Y/Y increase. Blackstone also declared a quarterly dividend per share of $0.79 and repurchased $1.2 billion worth of stock.

Portfolio Pulse from Anusuya Lahiri

July 20, 2023 | 1:01 pm

FRT

NNN

O

Despite bearish predictions for real estate investment trusts (REITs), triple-net lease REITs continue to show strength. Three such REITs, Realty Income Corp. (NYSE:O), Federal Realty Investment Trust (NYSE:FRT), and NNN REIT Inc. (NYSE:NNN), have been highlighted for their stability and reliable dividend income. Realty Income Corp. has had a 14.6% compound annual total return since its IPO in 1994. Federal Realty Investment Trust declared FFO of $1.59 in the first quarter, a 6% increase over the same period in 2022. NNN REIT Inc. announced first-quarter operating results with FFO of $0.80 per share, up from $0.77 in the first quarter of 2022.

Portfolio Pulse from Ethan Roberts

July 20, 2023 | 12:08 pm