Streetbeat News

Earnings

EL

RBC Capital Markets analyst Nik Modi has reiterated an Outperform rating on Estee Lauder Companies, Inc. (EL), but lowered the price target from $265 to $195. Modi expects a solid reaction to EL's upcoming Q4 and full-year results, but the direction is uncertain. The analyst notes that EL is losing market share in North America, but sees strong growth in Mainland China. For FY24, Modi expects 0-2% top-line growth and EPS of $4.10-$4.40.

Portfolio Pulse from Nabaparna Bhattacharya

August 16, 2023 | 6:52 pm

VEDU

Visionary Education Technology Holdings Group (VEDU) reported its FY23 financial results, which led to a decrease in its share price.

Portfolio Pulse from Benzinga Newsdesk

August 16, 2023 | 6:52 pm

HRB

H&R Block Inc's Q4 FY23 results have led to a boost in its price target by analysts, despite concerns about long-term growth. The company reported earnings of $2.05 per share, beating the consensus estimate of $1.89, and sales of $1.03 billion, also beating the consensus estimate of $1.01 billion. Barrington Research analyst Alexander Paris Jr raised the price target to $44 from $42, while Goldman Sachs analyst George K. Tong reiterated a Sell rating but increased the price target to $32 from $28. HRB shares are currently trading higher by 9% at $38.56.

Portfolio Pulse from Lekha Gupta

August 16, 2023 | 6:50 pm

ANF

Telsey Advisory Group analyst Dana Telsey has reiterated an Outperform rating on Abercrombie & Fitch Company (ANF), raising the price target to $47 from $35. The analyst expects ANF's 2Q23 total revenue to increase 5.2% Y/Y to $847 million, slightly ahead of the consensus of $839 million. The A&F brand is expected to remain healthy with a more resilient customer base and robust assortment. ANF shares are trading higher by 2.27% to $42.37.

Portfolio Pulse from Nabaparna Bhattacharya

August 16, 2023 | 6:46 pm

SE

Sea Limited's Q2 FY23 results missed expectations, with revenue growth of 5.2% YoY to $3.096 billion, below the consensus of $3.420 billion. Adjusted EPS of $0.54 also missed the consensus of $0.69. The company's Digital Entertainment revenue decreased by 41.2% YoY, while E-commerce and other services revenue increased by 20.6% YoY. Analysts from Goldman Sachs, Citigroup, B of A Securities, and Bernstein have re-rated the stock, with some maintaining their ratings and others downgrading.

Portfolio Pulse from Anusuya Lahiri

August 16, 2023 | 6:31 pm

BBBYQ

HD

TGT

TJX

The TJX Companies Inc (TJX) reported a strong Q2 with a 7.7% YoY rise in sales to $12.76 billion, beating estimates. Net income rose to $989 million, or 85 cents per share, and traffic increased across all segments. Unlike other retailers, TJX benefited from price-conscious consumers who are still willing to splurge on discounted premium apparel. The company raised its full-year guidance for comparable store sales and EPS. TJX's strong performance is contrasted with Target Corporation (TGT) and Home Depot (HD), whose sales slid as consumers prioritized needs over wants.

Portfolio Pulse from Upwallstreet

August 16, 2023 | 6:30 pm

SLND

DA Davidson analyst Brent Thielman has downgraded Southland Holdings Inc (AMEX:SLND) to Neutral from Buy and lowered the price target to $7 from $12. This follows weaker-than-expected Q2 FY23 results, a backlog of $500 million at zero margin, and a significant increase in debt/EBITDA leverage ratios. Thielman has also reduced the EBITDA estimate for FY23 and FY24.

Portfolio Pulse from Lekha Gupta

August 16, 2023 | 6:19 pm

DEA

RBC Capital Markets analyst Michael Carroll has downgraded Easterly Government Properties Inc (NYSE:DEA) to Underperform from Sector Perform, lowering the price target from $15 to $13. This follows Q2 results where the company reported revenue of $71.4 million, beating the consensus of $70.6 million. However, the analyst expects DEA's earnings run-rate to be modestly lower due to the rollover of interest rate swaps that will further weigh the dividend. The company's shares are trading lower by 3.9% at $13.66.

Portfolio Pulse from Lekha Gupta

August 16, 2023 | 6:10 pm

PLCE

Children's Place (NASDAQ:PLCE) is set to release its latest quarterly earnings report on August 17, 2023. Analysts estimate an earnings per share (EPS) of $-2.13. The company's past performance shows a trend of missing EPS estimates and subsequent drops in share price. The stock is currently trading at $25.87, down 47.77% over the last 52-week period.

Portfolio Pulse from Benzinga Insights

August 16, 2023 | 6:00 pm

URBN

Urban Outfitters, Inc. (NASDAQ:URBN) shares are trading higher by 1.3% to $36.19. The rise is attributed to strong quarterly earnings from other retail companies like Target and TJX, indicating a broader trend of increased consumer spending and improved retail performance. Despite Target reporting a sales decline of 4.9% YoY to $24.77 billion, the gross margin for the quarter expanded by 550 basis points to 27%.

Portfolio Pulse from Henry Khederian

August 16, 2023 | 5:55 pm