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Benzinga Insights has identified five value stocks in the communication services sector based on low P/E multiples, indicating potential undervaluation. The stocks include KT with a P/E of 7.21, Weibo with a P/E of 4.8, SK Telecom Co with a P/E of 9.76, Xunlei with a P/E of 5.87, and Telecom Argentina with a P/E of 9.83. Each company has shown an increase in earnings per share in their recent quarterly reports, suggesting improved financial performance.

Portfolio Pulse from Benzinga Insights

January 22, 2024 | 2:45 pm

YPF

The Argentine government has decided to exclude YPF, the country's largest oil company, from its privatization plan. This decision comes as part of the final text of a new omnibus law that includes key changes proposed by the opposition to reach an agreement. The exclusion of YPF from privatization efforts indicates the government's intention to maintain control over the strategic energy company.

Portfolio Pulse from Benzinga Newsdesk

January 22, 2024 | 2:16 pm

PRTS

CarParts.com, Inc. (NASDAQ:PRTS) has extended its $30 million stock repurchase plan to July 26, 2026, from the original expiration date of July 26, 2024. The company has approximately $25.2 million available for repurchase and will buy back shares based on market conditions, share price, and legal requirements. The repurchase plan may be adjusted, paused, or stopped at any time. As of October 23, 2023, CarParts.com had 57,498,607 shares of common stock outstanding.

Portfolio Pulse from Benzinga Newsdesk

January 22, 2024 | 2:16 pm

DISH

SATS

The Buxton Helmsley Group, Inc. (BHG), an investment fund manager, issued a letter to EchoStar Corporation's Board of Directors alleging accounting and securities fraud, fraudulent conveyances, and breaches of fiduciary duty related to EchoStar's recent merger with DISH Network Corp. BHG claims that DISH had pre-merger material misstatements of financial position and that EchoStar did not respond to BHG's private notification of these issues. BHG holds a short interest in the securities of both companies and may adjust its positions in the future.

Portfolio Pulse from Benzinga Newsdesk

January 22, 2024 | 2:05 pm

RIOT

Riot Platforms (NASDAQ:RIOT), a vertically integrated Bitcoin mining company, has received mixed analyst ratings over the past quarter, with 2 bullish and 4 somewhat bullish ratings. The average 12-month price target is $19.18, up from the previous $18.75. Analysts from firms like Cantor Fitzgerald, Roth MKM, HC Wainwright & Co., and Bernstein have maintained or raised their price targets, reflecting a positive outlook on the company's performance. Despite a strong market capitalization and exceptional ROE, Riot Platforms faces challenges with a net margin of -87.35% and an ROA of -3.22%, indicating profitability issues.

Portfolio Pulse from Benzinga Insights

January 22, 2024 | 2:01 pm

KKR

KKR & Co (NYSE:KKR) has received varied analyst ratings over the last quarter, with an average 12-month price target of $85.62, reflecting a 10.12% increase from the previous target. Analysts from firms like Wells Fargo, Keefe, Bruyette & Woods, and Morgan Stanley have raised their price targets, indicating a positive outlook on the company's performance. KKR is a major alternative asset manager with significant AUM and has shown strong financial health with high revenue growth and net margin, although its ROA and debt-to-equity ratio raise some concerns.

Portfolio Pulse from Benzinga Insights

January 22, 2024 | 2:00 pm

ORIC

ORIC Pharmaceuticals has secured a $125M private placement, issuing approximately 12.5M shares at $10.00 each. The funding involves new and existing investors such as Viking Global Investors, Commodore Capital, Frazier Life Sciences, Venrock Healthcare Capital Partners, NEA, and Nextech. This capital is expected to support ORIC's operations until late 2026.

Portfolio Pulse from Benzinga Newsdesk

January 22, 2024 | 1:34 pm

THM

International Tower Hill Mines Ltd. (THM) has completed a $2.5M non-brokered private placement, issuing 3,807,911 common shares at $0.664 each to existing major shareholders including Paulson & Co. Inc., Sprott Asset Management USA, Inc., and Kopernik Global Investors, LLC. The proceeds will be used for general working capital purposes. The shares are subject to a hold period in Canada and resale restrictions in the U.S. The transaction is considered a related party transaction, with exemptions from certain requirements.

Portfolio Pulse from Benzinga Newsdesk

January 22, 2024 | 1:14 pm

FELE

Franklin Electric Co., Inc. (NASDAQ:FELE) has raised its quarterly cash dividend from $0.2250 to $0.25 per share, marking the 32nd consecutive year of dividend increases. The new dividend is payable on February 15, 2024, to shareholders of record as of February 1, 2024. The increase reflects an 11 percent rise from the previous dividend and demonstrates the company's commitment to shareholder returns and confidence in its business outlook.

Portfolio Pulse from Benzinga Newsdesk

January 22, 2024 | 1:10 pm

ACAB

Abpro has filed a registration statement on Form S-4 related to its business combination agreement with Atlantic Coastal Acquisition Corp. II. The merged entity will be called 'Abpro Corporation' and will trade under the ticker 'ABP'. The pre-money equity valuation of the combined company is set at $500 million.

Portfolio Pulse from Benzinga Newsdesk

January 22, 2024 | 1:05 pm