Looking ahead to this shortened trading week, 24/7 Wall St. has put together a preview of some of the major companies reporting their quarterly results. We are just exiting earnings season, but some companies still report in this down time. Both the S&P 500 and the Dow Jones Industrial Average are closing in on their highs for this year as well. We have included the consensus earnings estimates from Thomson Reuters and the stock price and trading history, as well as added some additional color on each.
Be advised that the earnings and revenue estimates may change ahead of the formal reports, and some companies may change reporting dates as well.
Medtronic
On Tuesday, Medtronic PLC (NYSE: MDT) will share its most recent quarterly results. The consensus estimates call for earnings per share (EPS) of $1.26 and $7.49 billion in revenue. The company has dominated in medical devices, now with a $113 billion market cap. In June of 2015, its dividend hike took the payout ratio to approximately 35%, with a 40% goal in the coming years. It also marked the 38th consecutive year of dividend hikes. Based on this, we might expect another dividend hike in the future.
Shares traded at $81.67 on the close on Friday, in a 52-week trading range of $55.54 to $82.00. The stock has a consensus analyst price target of $85.00.
Michael Kors
Scheduled to reveal its fiscal fourth-quarter results on Wednesday is Michael Kors Holdings Ltd. (NYSE: KORS). The consensus estimates call for $0.97 in EPS, as well as $1.15 billion in revenue. In its most recent earnings report, the company delivered revenue, comparable store sales and earnings growth ahead of its expectations. Its performance was driven primarily by strong consumer response to its luxury fashion product offering, particularly in accessories and footwear categories, the continued momentum in digital flagship business and outstanding growth in international markets.
Shares were trading at $41.79 on Friday’s close. The consensus price target is $57.88. The stock has a 52-week trading range of $34.83 to $59.49.
Ambarella
Ambarella Inc. (NASDAQ: AMBA) is set to report its fiscal first-quarter results on Thursday. The analysts’ consensus estimates call for EPS of $0.27 and $56.18 million in revenue. The proliferation of smart devices and ubiquitous access to broadband connections are driving exponential growth in the capture, transmission, consumption and analytics of video content. Oppenheimer noted recently that Ambarella products are uniquely positioned to enable a new wave of professional and consumer devices to capture and stream high-quality video with real-time analytics. However this was a somewhat neutral view.
Shares were changing hands at $41.13 on Friday’s close. The consensus price target is $57.00, and the stock has a 52-week trading range of $33.39 to $129.19.
Broadcom
Fiscal second-quarter results are expected from Broadcom Ltd. (NASDAQ: AVGO) on Thursday as well. The consensus analyst estimates are set at $2.38 in EPS and revenue of $3.55 billion. This is the combined entity that was formerly known as Avago and Broadcom. The company is a leading designer, developer and global supplier of a broad range of analog and digital semiconductor connectivity solutions. Its extensive product portfolio serves four primary end markets: wired infrastructure, wireless communications, enterprise storage and industrial and other.
Shares of Broadcom ended the week at $153.30. The consensus price target is $178.25. The 52-week trading range is $100.00 to $159.65.
Ciena
Look for the latest quarterly results from Ciena Corp. (NYSE: CIEN) on Thursday. The consensus estimates call for $0.27 in EPS and $630.74 million in revenue. This company leverages its deep expertise in packet and optical networking and distributed software automation to deliver solutions in alignment with its OPn architecture for next-generation networks. The company enables a high-scale, programmable infrastructure that can be controlled and adapted by network-level applications, and it provides open interfaces to coordinate computing, storage and network resources in a unified, virtualized environment.
The share price was $17.20 on Friday’s close, in a 52-week range of $15.62 to $26.50. The stock has a consensus price target of $23.51.
Conn’s
Also on Thursday, Conn’s Inc. (NASDAQ: CONN) is set to report its fiscal first-quarter results. The analysts’ consensus estimates call for EPS of $0.06 and $393.16 million in revenue. Back in March, the company announced its succession plan for Norm Miller, president and CEO of Conn’s, who will be succeeded by Theodore M. Wright as chairman. This all takes place at the tail end of May, around the time when the company officially reports earnings.
Shares of Conn’s were changing hands at $11.15 as last week came to a close. The consensus price target is $19.33, and the stock has a 52-week range of $9.64 to $43.95.
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