After U.S. markets closed on Monday, Zoom Video reported earnings per share (EPS) that beat the consensus estimate by 26% and revenue that beat the consensus by 1.3%. The company also said that new products were off to good starts and that the company plans to continue investing in innovation. Shares traded down nearly 4% shortly after Tuesday’s opening bell.

Before markets opened on Tuesday, Dick’s Sporting Goods missed on both the top and bottom lines. EPS fell short of the consensus by 26% and revenue was about 0.6% below expectations. The company said it had undertaken a business optimization, beginning with cuts in staffing at its customer service center. Dick’s expects to take a one-time charge of around $20 million in the third quarter and additional charges totaling $25 million to $50 million in the rest of the fiscal year. Shares were hammered, down 24% in the early going on Tuesday.

Baidu beat Wall Street estimates on both the top and bottom lines. Shares traded up 2.7%.

Lowe’s beat the consensus earnings estimate but missed slightly on revenue. Revenue fell by more than 9% year over year, while EPS  rose by about 2.4%. The home improvement giant reaffirmed fiscal year guidance for both earnings and revenue. Shares traded up 3.7%.

Macy’s reported EPS that was nearly double the analysts’ estimate and a solid beat on the revenue estimate. But revenue was down 8% year over year, and same-store sales and gross margin both declined year over year. Macy’s also issued downside earnings and revenue guidance for the full fiscal year. The stock traded down 6.1%.

Toll Brothers and Urban Outfitters are on deck to report quarterly results after U.S. markets close on Tuesday, while Bath & Body Works, Foot Locker, Kohl’s and Peloton are scheduled to report earnings the following morning.

Here is a look at what analysts expect from these four firms reporting quarterly results after U.S. markets close on Wednesday or before Thursday’s opening bell.

Autodesk

Shares of computer design automation firm Autodesk Inc. (NASDAQ: ADSK) have dropped more than 9% over the past 12 months, including a gain of some 8% since the beginning of the year. Autodesk reports results late on Wednesday.

In February, the stock dropped 13% following a change to the company’s billing practices that investors interpreted as a big hit to profits and free cash flow. Those fears appear not to have materialized. In the first full quarter since that change was announced, analysts expect earnings to rise and free cash flow to stabilize.
Of 27 brokerages covering Autodesk, 19 have a Buy or Strong Buy rating, while another seven rate the stock at Hold. At a recent price of around $202.00 a share, the upside potential based on a median price target of $239.00 is 18.3%. At the high target of $265.00, the upside potential is about 31.2%.

For the company’s second quarter of fiscal 2024, analysts expect revenue to total $1.32 billion, which would be up 4.1% sequentially and by 6.5% year over year. Analysts are forecasting EPS of $1.73, up 11.4% sequentially and 4.8% higher year over year. For the full fiscal year, analysts estimate EPS of $7.28, up 9.9%, on revenue of $5.41 billion, up 8.2%.

Autodesk stock trades at 27.7 times expected 2024 EPS, 24.2 times estimated 2025 earnings of $8.35 and 21.2 times estimated 2026 earnings of $9.55 per share. Its 52-week trading range is $179.61 to $234.99. The company does not pay a dividend, and total shareholder return over the past year was negative 9.24%.

Dollar Tree

Off-price retailer Dollar Tree Inc. (NASDAQ: DLTR) has lost more than 15% from its share price over the past 12 months. The stock is up a scant 0.2% for the year to date. Look for the Dollar Tree earnings report Thursday morning.

First-quarter revenue beat the consensus estimate by less than 1% and EPS missed by 4.2%. If Dollar Tree has a consistent problem, it is putting up a decent profit number. That is difficult, of course, given its gross margins and rising costs. The company is also struggling with increased shrinkage, a problem common to many other retailers that have had to reduce staff to keep costs under control.

Analysts remain bullish on the stock. Of 28 brokerages covering it, 13 have Hold ratings and 13 have a Buy or Strong Buy rating. At a share price of around $142.00, the upside potential based on a median price target of $161.00 is 13.4%. At the high price target of $195.00, the upside potential is 37.3%.

Second-quarter 2024 revenue is forecast at $7.21 billion, down 1.6% sequentially but up 6.5% year over year. Adjusted EPS are forecast at $0.87, down nearly 41% sequentially and by 45.6% year over year. For the full 2024 fiscal year ending in January, analysts expect Dollar Tree to post EPS of $6.03, down 16.4%, on sales of $30.46 billion, up 7.5%.

Dollar Tree stock trades at 23.5 times expected 2024 EPS, 19.5 times estimated 2025 earnings of $7.26 and 16.1 times estimated 2026 earnings of $9.33 per share. The 52-week trading range is $128.85 to $170.36. The company does not pay a dividend, and the total shareholder return for the past year was negative 14.45%.

Nvidia

As goes Nvidia Corp. (NASDAQ: NVDA), so goes the stock market. It is not much of a stretch to say that if Nvidia bombs, the market will too. Likewise, if the latest member of the trillion-dollar club surpasses lofty expectations, the market is likely to soar. At least the S&P 10 will soar. The company set the upper end of second-quarter revenue guidance at $11.22 billion when it reported first-quarter results last May. The consensus revenue estimate is just below that, leaving Nvidia room to burst through its guidance and light a fire under the whole market. The company reports results Wednesday afternoon.
There are 51 brokerages covering Nvidia stock. Of those, 44 have a Buy or Strong Buy rating. Six more have Hold ratings. At a share price of around $470.00, the implied gain based on a median price target of $500.00 is 6.4%. At the high target of $1,000.00, the upside potential is 112.8%. A little frothy, eh?

For Nvidia’s second quarter of fiscal 2024, analysts expect revenue of $11.07 billion, up 53.9% sequentially and by 65.2% year over year. Adjusted EPS are forecast to rise by 91.4% sequentially to $2.09, a jump of 309.8% year over year. For the full fiscal year ending next January, analysts estimate EPS of $8.18, up 145%, and revenue of $44.12 billion, up 63.6%.

Nvidia stock trades at 57.4 times expected 2024 EPS, 39.6 times estimated 2025 earnings of $11.86 and 29.3 times estimated 2026 EPS of $16.02 per share. The 52-week range is $108.13 to $480.88. Nvidia pays an annual dividend of $0.16 (yield of 0.03%). Total shareholder return for the past 12 months was 163.35%.

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Petco

Pet food and supply retailer Petco Health and Wellness Co. Inc. (NASDAQ: WOOF) has dropped nearly 58% of its stock price over the past 12 months. Since reaching a 52-week high exactly one year ago, the stock is down almost 59%. The company reports results Thursday morning.

In the past two years, revenue has grown by a total of 9.1%, and EPS have declined from $0.25 in the second quarter of 2021 to $0.06 in this year’s April quarter. Free cash flow was negative in the April quarter and the net change in cash was negative $62.2 million, almost exactly the amount of Petco’s capital spending for the quarter.

Analysts are slightly bullish on the stock. Of 14 brokerages covering it, seven have a Buy or Strong Buy rating and 6 have Hold ratings. At a share price of $6.70, the upside potential based on a median price target of $10.00 is about 49.3%. At the high price target of $12.00, the upside potential is 79.1%.

For the company’s second quarter of fiscal 2024, analysts expect revenue of $1.52 billion, down 2.4% sequentially but 2.0% higher year over year. Adjusted EPS are forecast at $0.06, flat sequentially and down 68.4% year over year. For the full fiscal year ending in January, EPS are forecast to come in at $0.42, down 43.8%, on sales of $6.28 billion, up 4%.

Petco stock trades at 15.9 times expected 2024 EPS, 12.8 times estimated 2025 earnings of $0.52 and 9.4 times estimated 2026 earnings of $0.71 per share. The 52-week range is $6.58 to $16.24. Petco does not pay a dividend. Total shareholder return for the past year was negative 57.81%.

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