This is our last earnings preview report for this week. There are no notable reports due out either Monday or Tuesday. Our next preview will be posted Monday.

After markets close Wednesday and before they open on Thursday, results are due from three companies: Ciena, GameStop and Hormel.
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Here’s a look at five more companies set to report results after markets close Thursday and before Friday’s opening bell.

Academy Sports

Sporting gear retailer Academy Sports and Outdoors Inc. (NASDAQ: ASO) has seen its share price soar by 240% since its October 2020 initial public offering. Since late June, however, the stock is up by just 4%, including a leap of almost 50% between August 9 and November 19. EBIT margins settled into the mid-teens in the prior two quarters, and gross margin has hovered around 35%. Analysts are going to want to see no less (and more is better) when the Academy Sports reports third-quarter results first thing on Friday.

Analyst sentiment on the stock is solidly bullish, with 10 of 11 brokerages giving the shares a Buy or Strong Buy rating. The other rating is a Hold. At a recent price of around $44.20 a share, the upside potential based on a median price target of $55 is 24.4%. At the high price target of $65, the upside potential is 47%.

The third-quarter revenue estimate is $1.49 billion, which would be down 17% sequentially but 8.1% higher year over year. Adjusted earnings per share (EPS) are forecast at $1.09, down nearly 54% sequentially and up nearly 20% year over year. For the full 2022 fiscal year ending in January, EPS are forecast at $6.42, up 68%, on sales of $6.59 billion, up nearly 16%.

The share price to earnings multiple for fiscal 2022 is 6.9. For fiscal 2023, the multiple to estimated EPS of $5.56 is 7.9, and for 2024, it is 7.2 times estimated EPS of $6.15. The stock’s 52-week range is $15.71 to $51.08. The company does not pay a dividend. Total shareholder return for the past year was 176%.

Chipmaker and infrastructure software supplier Broadcom Inc. (NASDAQ: AVGO) will report quarterly earnings after Thursday’s closing bell. The company’s stock has added about 45% to its share price over the past 12 months, with roughly half that gain coming since mid-October. Shares put up an all-time high on Tuesday. Revenue has grown steadily in the mid-teen range over the past three quarters, and gross margins are above 70%. Net income is up by at least 20% in each of the past four quarters, and demand for chips has only strengthened.
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Needless to say, perhaps, analysts are strongly bullish on the stock, with 25 of 32 giving the shares a rating of Buy or Strong Buy. Another six rate the stock at Hold. At a share price of around $585.50, the stock is trading above its median price target of $572. Based on a high price target of $660, the upside potential is 12.7%.

For Broadcom’s fourth quarter of fiscal 2021, analysts are looking for revenue of $7.36 billion, up 8.6% sequentially and 13.7% year over year. Adjusted EPS are forecast at $7.77, up 11.6% sequentially and 22.4% year over year. For the full fiscal year, EPS are forecast at $28.01, up 26.4%, on sales of $27.4 billion, up 14.7%.

Broadcom’s share price to earnings multiple for the 2021 fiscal year is 20.9. For fiscal 2022, the multiple to estimated EPS of $31.22 is 18.8, and for 2023, it is 17.7 times estimated EPS of $35.65. The stock’s 52-week range is $398.28 to $593.07. Broadcom pays an annual dividend of $14.40 (yield of 2.55%). Total shareholder return for the past year was nearly 43%.

Costco

Following a share price decline of nearly 16% by early March, Costco Wholesale Corp. (NASDAQ: COST) stock has added nearly 75% to its value, for a 12-month gain of around 46%. As prices rise on many goods, Costco may be unique in its ability to raise prices to cover the increases. That’s due to its large and growing membership base and its focus on selling its own private label brands. Costco reports fiscal 2022 first-quarter results late on Thursday.

Analysts are positive on the stock, with 22 of 34 giving the shares a Buy or Strong Buy rating. Another 10 rate the stock at Hold. At a share price of around $537.80, the upside based on a median price target of $540 is less than 1%. At the high price target of $600, the upside potential is 13.4%.

First-quarter revenue is forecast at $49.63 billion, down nearly 21% sequentially but nearly 15% higher year over year. Adjusted EPS are forecast at $2.64, down 32.4% sequentially and up 15.3% year over year. For full fiscal 2022, current estimates call for EPS of $12.25, up 10.5%, on sales of $215.07 billion, up 9.8%.

Costco’s share price to earnings multiple for fiscal 2022 is 43.9. For fiscal 2023, the multiple to estimated EPS of $13.45 is 40.0, and for 2024, it is 35.6 times estimated EPS of $15.07. The stock’s 52-week range is $307.00 to $560.78. Costco pays an annual dividend of $3.16 (yield of 0.58%). Total shareholder return for the past year was 43.4%.

Athletic apparel retailer Lululemon Athletica Inc. (NASDAQ: LULU) has bounced back from a trough in early March to post a gain of around 15% for the past 12 months. Since mid-November, the share price has declined by more than 10%. That decline won’t be reflected in the results for the quarter that ended in October, but it will be on the minds of analysts and investors. Lululemon reports third-quarter results after the market close on Thursday.
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Of 29 analysts covering the stock, 19 have given Lululemon a Buy or Strong Buy rating. Another nine rate the stock at Hold. At a share price of around $426.60, the upside potential based on a median price target of $472 is 10.6%. At the high price target of $570, the upside potential is 33.6%.

Third-quarter revenue is forecast at $1.44 billion, down 1% sequentially and up 31.3% year over year. Adjusted EPS are forecast at $1.40, down 15% sequentially and up 20.7% year over year. For the full 2022 fiscal year ending in January, analysts are forecasting EPS of $7.51, up nearly 60%, on sales of $6.28 billion, up 42.6%.

Lululemon’s share price to earnings multiple for fiscal 2022 is 56.8. For fiscal 2023, the multiple to estimated EPS of $9.06 is 47.1, and for 2024, it is 39.2 times estimated EPS of $10.88. The stock’s 52-week range is $269.28 to $485.83. The company does not pay a dividend. Total shareholder return for the past year was 15%.

Oracle

Software and cloud-computing giant Oracle Corp. (NYSE: ORCL) has added about 50% to its share price over the past 12 months, in the same neighborhood as Apple (up 42%) and Microsoft (up 56%). The company’s EBIT margin topped 41% in the prior quarter, and gross margin topped 80%. But net income slipped by $1 billion (around 20%) sequentially in the fiscal first quarter and EPS was down by a like amount. That kind of performance in the second quarter won’t lift investors’ spirits. Oracle reports fiscal 2022 second-quarter results later on Thursday.

Of 30 analysts covering the stock, just six have a Buy or Strong Buy rating on the shares, while 20 have a Hold rating. At a share price of around $88.10, the upside potential based on a median price target of $89 is barely 1%. At the high price target of $115, the upside potential is 30/5%.

Second-quarter fiscal 2022 revenue is forecast at $10.21 billion, up 4.9% sequentially and 3.8% year over year. Adjusted EPS are pegged at $1.11, up 8.2% sequentially and 4.7% year over year. For the full fiscal year ending in May, current estimates call for EPS of $4.69, up less than 1%, on sales of $42.18 billion, up 4.2%.

Oracle’s share price to earnings multiple for the 2022 fiscal year is 18.8. For fiscal 2023, the multiple to estimated EPS of $5.53 is 17.1, and for 2024, it is 15.7 times estimated EPS of $5.60. The stock’s 52-week range is $58.80 to $98.95. Oracle pays an annual dividend of $1.28 (yield of 1.44%). Total shareholder return for the past year was 51.5%.

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