3 Quiet Earnings Reports Making the Biggest Moves on Thursday

February 9, 2017 by Chris Lange

Most of the major companies have already reported earnings for the most recent quarter, pushing the markets to new highs. However, the Trump rally has not just been the large caps moving the markets but an effort by most companies.

24/7 Wall St. has put together a look at a few companies that reported earnings and might have been overlooked on Thursday. These companies are moving at least 10%, either up or down, but on practically any other day they might fly under the radar.

We have included the financial results for the most recent quarter, as well as a recent trading history and a consensus analyst price target.

OraSure Technologies

When OraSure Technologies Inc. (NASDAQ: OSUR) reported its fourth-quarter financial results late on Wednesday, the company posted $0.13 in earnings per share (EPS) and $35.5 million in revenue.

In terms of guidance, the company expects to see EPS in the range of $0.17 to $0.18 and net revenues between $31.0 million and $31.5 million. The consensus estimates from Thomson Reuters call for $0.03 in EPS and $29.93 million in revenue.

Douglas A. Michels, president and CEO of OraSure, commented:

Our fourth quarter financial results exceeded expectations on the top and bottom lines. A major contributor to growth during both the quarter and full-year period was our international business. Expanding international sales of our HIV self-test and HCV product is a critical component of OraSure’s global growth strategy.

Shares of OraSure were last seen up over 26% at $11.21 on Thursday, with a consensus analyst price target of $10.40 and a 52-week trading range of $5.57 to $11.41.

Cliffs Natural Resources

Before the markets opened on Thursday, Cliffs Natural Resources Inc. (NYSE: CLF) released its fourth-quarter results. The company said that it had $0.41 in EPS and revenue of $754 million. The consensus estimates were $0.25 in EPS and $688.5 million in revenue.

The company expects to generate $510 million in net income and $850 million in adjusted EBITDA in 2017. Cliffs expects full-year sales and production volumes of approximately 19 million long tons from its U.S. Iron Ore business. This compares to 18.2 million long tons of sales and 16.0 million long tons of production in 2016.

The consensus estimates are calling for $0.71 in EPS and $2.04 billion in revenue for the 2017 full year.

Shares of Cliffs were up about 14% at $10.85. The consensus price target is $8.86, and the 52-week range is $1.67 to $10.90.

Glu Mobile

The latest earnings report from Glu Mobile Inc. (NASDAQ: GLU) was posted late on Wednesday. The company had a net loss of $0.11 per share and $46.3 million in revenue. The consensus estimates were a net loss of $0.07 per share and $46.6 million in revenue.

The company issued guidance for the first quarter. It expects to see bookings in the range of $53.0 million to $55.0 million and operating expenses between $43.6 million and $44.0 million. The consensus estimates call for a net loss of $0.05 per share and $49.31 million in revenue for the current quarter.

Nick Earl, CEO of Glu, commented:

In 2017 we will be focused on hiring proven creative leaders with a track record of success. We will be investing in these creative leaders to build platform titles that we expect will share similar characteristics with Tap Sports Baseball and Covet Fashion of more predictable bookings and year over year growth. We have recently hired Mike Olsen as SVP of Studios who fits this profile exactly. I am confident that we have the right strategy to return to profitable growth and further establish Glu as a leader in mobile games.

Shares of Glu were down nearly 15% at $2.12, in a 52-week range of $1.73 to $4.00. The consensus analyst target is $2.64.

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