Streetbeat News

Equity Actions

CPE

Analysts have a neutral outlook on Callon Petroleum (NYSE:CPE), with all four recent ratings being indifferent. The 12-month price target averages $36.25, down from $40.67, indicating a 10.87% decrease. Analysts from Mizuho and Stifel have adjusted their price targets and ratings, reflecting concerns over Callon's financial performance, including a -14.61% revenue decline, below-average net margin, ROE, and ROA, but a healthier debt-to-equity ratio compared to the industry.

Portfolio Pulse from Benzinga Insights

March 15, 2024 | 12:01 pm

BRLT

Brilliant Earth Group (NASDAQ:BRLT) has been analyzed by 4 analysts, showing a mix of bullish and indifferent sentiments. The average 12-month price target is $3.6, up from $3.45, with targets ranging from $3.00 to $4.00. Analyst actions include maintaining and lowering ratings, reflecting changing market dynamics and company performance. Brilliant Earth Group, known for ethically-sourced jewelry, shows strong financial health with notable revenue growth, net margin, ROE, and ROA, despite a high debt-to-equity ratio.

Portfolio Pulse from Benzinga Insights

March 15, 2024 | 12:00 pm

XELB

Xcel Brands announced the pricing of a $2.42 million public offering of common stock, alongside a concurrent private placement. This move aims to raise capital, potentially for expansion or operational purposes.

Portfolio Pulse from Benzinga Newsdesk

March 15, 2024 | 11:57 am

PANL

Pangaea Logistics Solutions has announced the renewal of its shelf registration statement, allowing the company to issue new securities in the future. This strategic move provides Pangaea with flexibility in financing options and growth opportunities.

Portfolio Pulse from Benzinga Newsdesk

March 15, 2024 | 11:33 am

BSFC

CGTX

EKSO

Insiders at Blue Star Foods, Ekso Bionics, and Cognition Therapeutics have recently made significant stock purchases, signaling potential confidence in their companies' futures. Blue Star Foods signed a master service agreement with a seafood provider, Ekso Bionics reported mixed Q4 results, and Cognition Therapeutics closed an $11.5 million public stock offering.

Portfolio Pulse from Avi Kapoor

March 15, 2024 | 11:13 am

PMTS

CPI Card Group has announced a new stock purchase agreement with its majority shareholder, Parallel49 Equity Ulc. This agreement, set for the second quarter, follows the expected completion of an initial agreement by March 31, 2024. The move indicates a strengthening relationship between CPI Card Group and Parallel49 Equity, potentially impacting investor confidence and stock stability.

Portfolio Pulse from Benzinga Newsdesk

March 15, 2024 | 11:07 am

THR

Thermon Group has announced the authorization to repurchase up to $50 million of its outstanding shares of common stock through March 15, 2027. This move is aimed at enhancing shareholder value.

Portfolio Pulse from Benzinga Newsdesk

March 15, 2024 | 11:05 am

LE

Lands' End has announced the authorization of a stock repurchase program, allowing the company to buy back up to $25 million of its common stock until March 31, 2026. This move reflects the company's confidence in its financial stability and future prospects.

Portfolio Pulse from Benzinga Newsdesk

March 15, 2024 | 10:48 am

SWZCF

VOD

Vodafone Group Plc (VOD) sells its Italian unit to Swisscom AG (SWZCF) for $8.7 billion, aiming to merge it with Fastweb. The deal, fully debt-financed, will see Vodafone providing services for an initial charge of ~€350 million. The merger is expected to create substantial value through enhanced scale, cost structure, and synergies of €600 million annually. Vodafone plans to return €4 billion to shareholders via buybacks following this and the sale of its Spanish operation. The company also plans to reduce its dividend starting from the 2025 financial year.

Portfolio Pulse from Nabaparna Bhattacharya

March 15, 2024 | 10:08 am

VOD

Vodafone Group Plc has finalized the sale of its Italian operations to Swisscom AG for €8 billion in cash. This transaction is part of Vodafone's strategy to right-size its portfolio, focusing on markets where it has strong positions and local scale. The sale price is considered attractive, representing about 26 times the consensus operating free cash flow and 7.6 times the consensus adjusted EBITDA for FY24. Following this sale, Vodafone plans to rebase its dividend to 4.5 cents per share from FY25, return €4 billion to shareholders through buybacks, and maintain a new leverage range.

Portfolio Pulse from Charles Gross

March 15, 2024 | 9:05 am