Markets were off to a positive start on Tuesday, with the Nasdaq leading the charge with a gain of just over 1%. Tech stocks were making a rebound, as crude oil turned lower by more than 5%. However, the lead story on the day was ongoing peace talks between Russia and Ukraine.
With markets reenergized, analysts have been even more optimistic on where things could go from here. In fact, targets for the broad markets and earnings have been increasing as of late, and analysts are calling for upside.
A few big names are reporting earnings after markets close on Tuesday and before they open on Wednesday. Here, 24/7 Wall St. has a close look at what to expect when these companies report.
BioNTech
BioNTech S.E. (NASDAQ: BNTX) was a major player in the pandemic, as a partner to pharmaceutical giant Pfizer in the production of a COVID-19 vaccine. While Pfizer took care of the production and distribution of the vaccine, BioNTech played a big role in the development and testing of the vaccine. As Pfizer’s CEO is calling for more booster shots, this could mean more cash for BioNTech, as more jabs find their way into arms.
The firm is set to report its most recent quarterly results before the markets open on Wednesday. Analysts are calling for earnings per share (EPS) of $8.19 and revenues of $4.31 billion, which compares to $1.92 in EPS on sales of $422.55 million in the same period last year. COVID-19 vaccines have proven lucrative over the past year, and the analyst estimates prove that just at a glance.
BioNTech stock posted a small gain Tuesday morning, with shares trading near $167. The stock has a 52-week range of $98.60 to $464.00 and a consensus price target of $300.55. The market cap is $40 billion.
Chewy
Online retailer Chewy Inc. (NYSE: CHWY) specializes in pets. Whether it is for dogs, cats, fish or birds, these guys sell it all. Also, with the push away from retail over the course of the pandemic, Chewy has found a successful business model catering to a specific niche. Even though bigger online retailers like Amazon and Walmart might be some competition, Chewy has built a following of loyal consumers and their hungry pets.
Look for Chewy to report its quarterly results after the markets close on Tuesday. Analysts are calling for a net loss per share of $0.08 on $2.42 billion in revenues. The same period from last year had $0.05 in EPS and $2.04 billion in revenue.
Chewy stock was flat at $49, and it has a consensus price target of $70.57. The market cap is $20 billion, and a 52-week trading range is $35.59 to $97.74.
Lululemon
Lululemon Athletica Inc. (NASDAQ: LULU) is the producer of some of the most popular athleisure wear on the planet. Yoga pants, tights, tank tops and other athletic apparel are all on the menu for people who are on the move or even for those parked on the couch. The company operates a retail segment as well as a direct-to-consumer segment, so it has exposure to consumers on multiple fronts.
The most recent quarterly results are expected after the markets close on Tuesday. Analysts are calling for $3.28 in EPS on $2.13 billion in revenue, which compares with $2.58 in EPS on $1.73 billion in revenue in the same period last year.
Lululemon stock was trading up about 5% at $348, with a consensus price target of $422.61. The stock has a 52-week range of $278.00 to $485.83, and the market cap is $44 billion.
Micron Technology
American chipmaker Micron Technology Inc. (NASDAQ: MU) specializes in computer memory and data storage, specifically, dynamic random-access memory, flash memory and USB flash drives. Micron has seen a meteoric rise over the past decade, and while there have been some down years, investors have to be happy with the overall performance.
Watch for Micron to report earnings after the markets close on Tuesday. Analysts are calling for $1.97 in earnings per share (EPS) on $7.52 billion in revenue. The same period of last year had $0.98 in EPS on $6.24 billion in revenue.
The stock was last seen trading relatively flat just under $80, in a 52-week range of $65.67 to $98.45. Analysts have a consensus price target of $112.43 for the stock. The market cap is just above $89 billion.
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