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Earnings Week Ahead: PayPal, Middleby, Walt Disney and AstraZeneca in Focus

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Earnings Calendar For The Week Of November 8

Monday (November 8)

IN THE SPOTLIGHT: PAYPAL

The leading global payments company PayPal will post earnings of $1.07 per share in the third quarter, more or less in line with the reading seen in the same period a year ago. San Jose, California-based company would post revenue growth of about 14% to around $6.2 billion.

PayPal estimates revenues of about $6.15 billion to $6.25 billion during the third quarter of 2021, up by 13-14% from the previous quarter. The company anticipates non-GAAP earnings per share of $1.07 during Q3 of 2021.

PayPal, one of our top OWs (Overweight), is the preferred digital wallet option for non-Amazon merchants, as evidenced by its online acceptance lead vs. other digital wallets and industry-low attrition. PayPal’s efforts to offer a seamless and secure checkout experience ties its TPV growth rate with the secular growth of eCommerce. As consumers increase their habitual use of PayPal, the company should grow its TPV at or above the rate of eCommerce (ex-Amazon),” noted James Faucette, equity analyst at Morgan Stanley.

“Venmo, POS and partnership monetization could offer additional TPV and revenue growth, while operating leverage from its scale support 20%+ earnings growth over the medium term, despite near-term headwinds from eBay and macro impacts.”

TAKE A LOOK AT OUR EARNINGS CALENDAR FOR THE FULL RELEASES FOR THE NOVEMBER 8

Ticker Company EPS Forecast
FIVN Five9 $0.24
THS TreeHouse Foods $0.50
BKI Black Iron Inc. $0.57
COTY Coty $0.02
AEIS Advanced Energy Industries $0.82
AMRS Amyris -$0.15
SANM Sanmina $0.99
AU Anglogold Ashanti $0.36
MRTX Mirati Therapeutics -$2.88
CTRE CareTrust REIT $0.20
PSEC Prospect Capital $0.18
AMC AMC Entertainment -$0.53
VAC Marriottacations Worldwide $1.42
JKHY Jack Henry Associates $1.32
PRI Primerica $2.98
NNI Nelnet $1.68
OSH Oak Street Health -$0.42
ACAD Acadia Pharmaceuticals -$0.26
FSK FS KKR Capital $0.61
MWA Mueller Water Products $0.19
AEL American Equity Investment Life $0.76
PRAA PRA $0.73
DOOR Masonite International $1.87
TRIP TripAdvisor $0.24
NHI National Health Investors $0.98
TREX Trex $0.58
IFF International Flavors Fragrances $1.37
ENV Envestnet $0.58
TWO Two Harbors Investment $0.19
CBT Cabot $1.03
PYPL PayPal $1.07

Tuesday (November 9)

IN THE SPOTLIGHT: MIDDLEBY

Middleby, a global leader in the foodservice equipment industry, is expected to report earnings of $2.03 in the third quarter, which represents year-over-year growth of over 50% from $1.34 per share seen in the same period a year ago.

The U.S. foodservice equipment maker will report revenue of $837.32 million, up 32% from the same period a year ago. It is worth noting that the company has always surpassed consensus earnings estimates in the last four quarters.

“The outlook for MIDD appears positive heading into 3Q21 earnings next week, with ITW Food Equipment seeing ~50% growth in restaurant revenue and JBT Foodtech generating+15% organic growth. Restaurant commentary points to investment activity centred around increasing efficiency/productivity, although we could see new builds pushed out due to labour/supply chain constraints,” noted Saree Boroditsky, an equity analyst at Jefferies.

TAKE A LOOK AT OUR EARNINGS CALENDAR FOR THE FULL RELEASES FOR THE NOVEMBER 9

Ticker Company EPS Forecast
HAIN Hain Celestial $0.24
IGT International Game Technology $0.53
JHX James Hardie Industries $0.32
HAE Haemonetics $0.61
IIVI Ii Vi $0.83
FSS Federal Signal $0.46
TAC TransAlta USA $0.11
WRK WESTROCK $1.17
STWD Starwood Property $0.52
CAH Cardinal Health $1.33
PLTR Palantir Technologies Inc. $0.04
DHI DR Horton $3.39
SGMS Scientific Games $0.37
ELY Callaway Golf $0.03
OCGN Ocugen -$0.04
SEAS SeaWorld Entertainment $1.66
SATS EchoStar $0.33
ITCI Intra Cellular Therapies -$0.90
MIDD Middleby $2.03
EC Ecopetrol $2,315.76
ADT ADT $0.08
SYY Sysco $0.86
G Genpact $0.56
JAZZ Jazz Pharmaceuticals $3.31
RNG RingCentral $0.33
TTEC TeleTech $0.84
NSTG NanoString Technologies -$0.55
LGND Ligand Pharmaceuticals $1.07
BAK Braskem $2.34
EPAY Bottomline Technologies $0.25
PAAS Pan American Silver USA $0.35
NUVA NuVasive $0.54
CNNE Cannae $0.09
COKE Coca Cola Bottlingconsolidated $7.86
PAY VeriFone Systems $0.01
CCXI ChemoCentryx -$0.45
SWX Southwest Gas $0.13
DAR Darling Ingredients $0.82
ASH Ashland $1.34
EDU New Oriental Education Tech -$0.05
GOL Gol Linhas Aereas Inteligentes -$1.01

Wednesday (November 10)

IN THE SPOTLIGHT: WALT DISNEY

Walt Disney, a family entertainment company, is expected to report its fiscal fourth-quarter earnings of $0.44 per share, which represents year-over-year growth of over 320% from a loss of -$0.20 per share seen in the same period a year ago.

The family entertainment company would post revenue growth of 28% to $18.8 billion. The company has beaten earnings per share (EPS) estimates all times in the last four quarters, according to ZACKS Research.

As of July, Disney+ and Hotstar had more than 116 million subscribers, while Hulu and ESPN+ combined had more than 57 million subscribers. Barclays analysts cite slowing growth and the fact that Disney+ produces far less new content than Netflix, as reasons for their scepticism. Disney+ claims to have 250 million subscribers by 2024, Fobes reported.

“We see Disney on the shortlist of global streaming majors. Despite significant continued upward earnings revisions, shares have lagged as net adds expectations ran ahead of content deliveries. As the content pipeline builds into ’22 and ’23, core net adds should accelerate, driving shares,” noted Benjamin Swinburne, equity analyst at Morgan Stanley.

Disney is building content assets that enable it to take advantage of the significant direct-to-consumer streaming opportunity ahead. Disney’s underlying IP remains best-in-class, supporting long term content monetization opportunities. During this period of FCF pressure from Parks closures, ESPN’s FCF generation is key to driving down leverage. Historical cycles suggest a potential return to above prior peak US Parks revenues in FY23.”

TAKE A LOOK AT OUR EARNINGS CALENDAR FOR THE FULL RELEASES FOR THE NOVEMBER 10

Ticker Company EPS Forecast
AY Atlantica Yield $0.60
PRGO Perrigo $0.65
ADNT Adient PLC -$0.75
WWW Wolverine World Wide $0.61
ENR Energizer $0.72
GIB CGI Group USA $1.08
AER AerCap $2.22
ELP Companhia Paranaense De Energia $0.66
MSGS Madison Square Garden Sports -$1.30
PAM Pampa Energia $0.93
BRKS Brooks Automation USA $0.77
YPF YPF $0.31
ENS Enersys $1.07
EBR Centrais Eletricas Brasileiras $0.25
FICO Fair Isaac $3.18
CCMP Cabot Microelectronics $1.87
DIS Walt Disney $0.52
BRFS BRF $0.03
ATO Atmos Energy $0.34
KGC Kinross Gold USA $0.06

Thursday (November 11)

Ticker Company EPS Forecast
CAE Cae USA $0.16
GFI Gold Fields $0.21
AEG Aegon -$0.02
TPR Tapestry Inc $0.70
BAM Brookfield Asset Management USA $0.83
EPC Edgewell Personal Care $0.84
UTZ Utz Brands $0.16
FLO Flowers Foods $0.25
CELH Celsius $0.06
SBH Sally Beauty $0.52
MT Arcelormittal $4.01
PVG Pretium Resources $0.16
SBS Companhia De Saneamento Basico $0.19
BLFS BioLife Solutions -$0.07

Friday (November 12)

IN THE SPOTLIGHT: ASTRAZENECA

The British-Swedish pharmaceutical giant AstraZeneca is expected to report earnings per share of GBP 92.54 in the third quarter on revenue of GBP 7.04 billion.

“We expect Q3’21 sales to reflect lower levels of cancer diagnoses and VBP pressures in China, with the gross margin continuing to be impacted by COVID-19 vaccine sales and changes in product mix. With collaboration revenues / OOI phased into 4Q21, consensus Q3’21 earnings appear c.8% too high,” noted Mark D Purcell, equity analyst at Morgan Stanley.

TAKE A LOOK AT OUR EARNINGS CALENDAR FOR THE FULL RELEASES FOR THE NOVEMBER 12

Ticker Company EPS Forecast
MFG Mizuho Financial $0.08
SMFG Sumitomo Mitsui Financial $0.20
CIG Companhia Energetica Minas Gerais $0.07
SPB Spectrum Brands $0.79
ROLL Rbc Bearings $1.05

 

This article was originally posted on FX Empire

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