Streetbeat News

Earnings

SQ

Block (NYSE:SQ) has received mixed analyst ratings over the past three months, with 10 analysts offering evaluations. The average 12-month price target is $83.4, a 9.49% decrease from the previous $92.14. Recent actions include ratings and price target adjustments by analysts from Wedbush, BTIG, Mizuho, BMO Capital, Barclays, CLSA, Piper Sandler, RBC Capital, Goldman Sachs, and Canaccord Genuity. Block's financial performance shows a revenue growth rate of 24.4% as of September 30, 2023, but it lags in net margin and ROE compared to industry averages. Its debt-to-equity ratio is below industry norms, indicating a sound financial structure.

Portfolio Pulse from Benzinga Insights

January 30, 2024 | 1:00 pm

STT

State Street (NYSE:STT) received mixed analyst ratings in the latest quarter, with 10 analysts offering varied perspectives. The average 12-month price target increased to $85.6, up from $80.00. Analysts from firms like Morgan Stanley, RBC Capital, and others have raised or maintained their ratings and price targets, reflecting updates based on market conditions and company performance. Despite positive analyst sentiment, State Street's financial performance shows challenges in market capitalization, revenue growth, net margin, ROE, and ROA, although it has a sound debt management with a debt-to-equity ratio of 0.99.

Portfolio Pulse from Benzinga Insights

January 30, 2024 | 1:00 pm

CVLT

Commvault (CVLT) reported strong fiscal 2024 third quarter results with total revenues of $216.8 million, an 11% increase YoY. The company's Annual Recurring Revenue (ARR) grew to $752 million, up 17% YoY, while subscription revenue rose 31% to $114.2 million. Subscription ARR also saw a significant increase of 29% to $571 million. Operating income (EBIT) was $21.1 million with a margin of 9.7%, and non-GAAP EBIT was $46.7 million with a 21.5% margin. Operating cash flow stood at $44.4 million, and free cash flow was $42.6 million. The company repurchased $51.3 million worth of shares, approximately 711,000 shares of common stock, during the quarter.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 12:53 pm

CVLT

CommVault Systems (NASDAQ:CVLT) reported Q3 adjusted EPS of $0.78, surpassing the consensus estimate of $0.73, and representing a 25.81% increase from the previous year. Sales reached $216.81M, exceeding estimates of $208.06M and marking an 11.14% increase from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 12:49 pm

COIN

SLB

TMST

ZION

Insiders at Schlumberger (SLB), Zions Bancorporation (ZION), Coinbase Global (COIN), and TimkenSteel (TMST) have recently sold shares of their companies. Schlumberger's Chief Sustainability Officer sold 8,000 shares, Zions Bancorporation's Exec VP sold 4,093 shares, Coinbase's Director sold 97,836 shares, and TimkenSteel's President and CEO sold 9,500 shares. These sales occurred as Schlumberger reported a revenue increase, Zions Bancorp posted better-than-expected earnings, Coinbase received an analyst upgrade, and TimkenSteel announced a name change to Metallus Inc.

Portfolio Pulse from Avi Kapoor

January 30, 2024 | 12:49 pm

TSLA

Tesla, Inc. (NASDAQ:TSLA) is experiencing a premarket stock price increase, marking a potential third consecutive session of gains after reaching an eight-month low last week. The uptrend is notable given flat index futures and concerns over big tech earnings. The rise is attributed to strong weekly China-insured registration data indicating approximately 12,800 Tesla vehicles were insured in the last week of January, surpassing the average of 10,000 for the same week historically. This is the highest fourth-week performance of a quarter ever for Tesla. China is a key market for Tesla, accounting for about half of its vehicle production and 22.5% of its 2023 revenue. Bargain hunters may also be driving the stock's recovery after a recent drop to $182.10. In premarket trading, TSLA shares increased by 2.35% to $195.41.

Portfolio Pulse from Shanthi Rexaline

January 30, 2024 | 12:47 pm

HCA

HCA Healthcare projects its FY24 revenues to range between $67.75B and $70.25B, surpassing the consensus estimate of $67.67B. The company also anticipates its earnings per share (EPS) to be between $19.70 and $21.20, which is higher than the consensus estimate of $19.52.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 12:38 pm

HCA

HCA Healthcare reported Q4 adjusted EPS of $5.90, surpassing the $5.04 estimate, and sales of $17.30B, exceeding the $16.51B estimate. This reflects a 27.16% increase in EPS and an 11.65% increase in sales from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 12:35 pm

MAN

ManpowerGroup (NYSE:MAN) reported Q4 adjusted earnings of $1.45 per share, surpassing the analyst consensus estimate of $1.20 by 20.83%. However, this represents a 30.29% decrease from the $2.08 per share earned in the same quarter last year.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 12:35 pm

MAN

ManpowerGroup (NYSE:MAN) reported Q4 sales of $4.63B, surpassing the analyst consensus estimate of $4.56B by 1.56%. However, this represents a 3.70% decrease from the $4.81B in sales reported in the same period last year.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 12:32 pm