Streetbeat News

Earnings

CPT

Camden Prop Trust (NYSE:CPT) has been analyzed by 10 financial analysts over the past quarter, showing a mix of bullish to bearish sentiments. The average 12-month price target is now $105.00, down from $113.83, with a high estimate of $114.00 and a low of $90.00. Analyst actions include maintaining, raising, and lowering ratings and price targets, reflecting their views on the company's performance and market conditions. Camden Property Trust, a real estate investment trust, has shown strong financial health with a notable market presence, positive revenue trend, impressive net margin, and efficient asset and equity management.

Portfolio Pulse from Benzinga Insights

April 29, 2024 | 4:01 pm

MAA

Nine financial analysts have recently provided their ratings on Mid-America Apartment (NYSE:MAA), showing a mix of bullish and indifferent stances with no bearish views. The average 12-month price target among analysts is $140.06, a slight decrease from the previous $143.40. Analyst actions include maintaining, lowering, and raising ratings, reflecting their response to market conditions and company performance. Mid-America Apartment, a real estate investment trust, has shown strong financial performance with a notable market capitalization, revenue growth of 2.71%, a net margin of 29.41%, and above-average ROE and ROA. The company's debt-to-equity ratio is below the industry average, indicating a healthy balance between debt and equity.

Portfolio Pulse from Benzinga Insights

April 29, 2024 | 4:00 pm

BUZZ

SOFI

STCE

SoFi Technologies Inc. reported fiscal first-quarter 2024 results with a 26% year-on-year increase in adjusted revenue to $580.648 million, surpassing consensus estimates. Adjusted EPS was $0.02, beating the consensus of $0.01. The company added 622,000 new members, reaching over 8.1 million, and introduced over 989,000 new products, totaling over 11.8 million. Adjusted EBITDA rose by 91% Y/Y to $144.39 million. SoFi projects Q2 adjusted net revenue of $555 million to $565 million and adjusted EBITDA of $115 million to $125 million. For the full year 2024, it expects at least 50% growth in Tech Platform and Financial Services segments, with Lending revenue at 92% to 95% of 2023 levels, and an adjusted EBITDA margin of approximately 25%. SoFi stock is down 10% at $7.08. Investors can also gain exposure to SoFi through VanEck Social Sentiment ETF (BUZZ) and Schwab Strategic Trust Schwab Crypto Thematic ETF (STCE).

Portfolio Pulse from Anusuya Lahiri

April 29, 2024 | 4:00 pm

HTLF

UMBF

UMB Financial Corporation (NASDAQ:UMBF) shares fell after announcing its largest acquisition in history, buying Heartland Financial USA Inc. (NASDAQ:HTLF) for $2.0 billion in an all-stock deal, alongside pricing an underwritten offering and reporting higher-than-expected Q1 FY24 earnings. The deal will significantly expand UMB's assets and customer base, expected to close in Q1 2025. UMB also announced a share repurchase program and a quarterly dividend. Despite strong Q1 results, UMBF shares dropped 4%, while HTLF shares surged 19%.

Portfolio Pulse from Lekha Gupta

April 29, 2024 | 3:52 pm

HOPE

Hope Bancorp shares are trading lower due to disappointing Q1 financial results and the announcement of a definitive merger with Territorial Bancorp.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 3:43 pm

AMC

AMC Entertainment Holdings (NYSE:AMC) saw its shares trade higher after pre-announcing Q1 financial results, surpassing revenue estimates for the 12th consecutive quarter with $951.4 million against a consensus of $861.1 million. Despite strong market share gains and potential growth in Europe, Wedbush analyst Alicia Reese remains cautious, citing AMC's heavy debt load and lack of dividends as overshadowing factors. Reese maintains a Neutral rating with a $4 price target. AMC raised over $865 million through equity sales in 2023 but faces significant debt repayments. The company's stock has declined, reflecting concerns over its financial health and the impact of Hollywood strikes.

Portfolio Pulse from Chris Katje

April 29, 2024 | 3:42 pm

SDA

SunCar Technology shares are trading higher following the announcement of their FY2023 results.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 3:35 pm

ON

QCLN

SHOC

TSLA

ON Semiconductor Corp (NASDAQ: ON) reported a fiscal first-quarter 2024 revenue decline of 5% year-on-year to $1.86 billion, slightly beating the consensus of $1.85 billion. The adjusted EPS of $1.08 also surpassed the consensus of $1.04. Despite declines in certain segments, the company outperformed expectations and provided a Q2 outlook with adjusted revenue of $1.68 billion to $1.78 billion, below the consensus of $1.92 billion, and adjusted EPS of $0.86 to $0.98, against a consensus of $1.10. Analyst Harsh V. Kumar from Piper Sandler anticipates a recovery in the second half of 2024, especially in the EV market, which is expected to grow long-term. ON Semiconductor stock is trading higher by 4.23% at $70.94. Investors can also gain exposure through ETFs like QCLN and SHOC.

Portfolio Pulse from Anusuya Lahiri

April 29, 2024 | 3:34 pm

CAT

Caterpillar (NYSE:CAT) has seen a notable bullish sentiment in its options market, with 53% of traders being bullish and 23% bearish. The analysis revealed 13 unusual trades, with a focus on a price range of $280.0 to $370.0. The largest trades included both calls and puts, with varying sentiments and strike prices. Caterpillar, a leading manufacturer of heavy equipment, is currently trading at $347.73, up 1.27%, with a neutral RSI and its next earnings release in 92 days.

Portfolio Pulse from Benzinga Insights

April 29, 2024 | 3:31 pm

AMX

America Movil SAB de CV (NYSE:AMX) shares have been trending upwards following positive first-quarter earnings. Goldman Sachs analyst Vitor Tomita upgraded AMX to Buy, maintaining a $22 price target, citing improvements in Mexico and Brazil, which are key markets for the company. Tomita highlighted an inflection point in competitive standing and regulatory environment, along with a capex peak in 2023 that suggests significant cash generation potential in 2024 and beyond. Despite underperforming the Mexico IPC index since 2023, AMX now presents attractive multiples and a favorable balance of potential catalysts.

Portfolio Pulse from Priya Nigam

April 29, 2024 | 3:25 pm