The Ten Most Important Earnings This Week

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This week will be a busy one as far as earnings, but this is also marks the beginning of the end for corporate earnings. We also still have some DJIA components reporting earnings, but the bulk of the majors have reported earnings and we are down to off-quarter companies now.

24/7 Wall St. compiled what it believes will be among the most watched earnings report this week. Earnings and revenue estimates are from Thomson Reuters and color has been added on each if applicable.

Best Buy Co. Inc. (NYSE: BBY) is due on Tuesday morning before the open. Investors will want to pay close attention here. The death of this company was over-reported, and the stock is up about 300% so far in 2013. This last quarter is considered close to a throwaway quarter with estimates at $0.11 EPS and $9.36 billion in revenue. The coming all-important quarter includes Christmas and the holidays and that is expected to be $1.66 EPS and $14.97 billion in revenue. At $44.10 late on Monday, the 52-week range is $11.20 to $44.66.

Medtronic Inc. (NYSE: MDT) reports on Tuesday morning and this medical device company is close to all-time highs all over again. Earnings estimates are $0.90 EPS and $4.18 billion in revenue. Medtronic’s focus is often on different metrics, but at $58.35 in late-Monday trading its 52-week range is $40.28 to $58.85.

Two-In-One, broken up: The Home Depot Inc. (NYSE: HD) reports on Tuesday morning and is a DJIA component, but for all practical purposes is a benchmark for the Lowe’s Companies Inc. (NYSE: LOW)which reports the following morning. Home Depot is far larger and more important due to size and being a DJIA stock. Estimates for Home Depot are $0.89 EPS and $19.17 billion in sales. Home Depot shares are up 31% so far in 2013 and its stock trades at 21.5-times expected earnings; Lowe’s stock is up 46% so far in 2013 and trades at 23.4-times expected earnings.

The TJX Companies Inc. (NYSE: TJX) is perhaps king of the discount retailers and it is on deck Tuesday morning before the market opens. This one is up almost 49% so far in 2013 and trades at almost 22-times expected earnings. Estimates are $0.74 EPS and $6.9 billion in revenue.

Deere & Company (NYSE: DE) is reporting earnings on Wednesday morning and is hard to expect any greatness after what Caterpillar and others have warned about when it comes to emerging markets. The ag-equipment maker traded at close to $84 in late-Monday trading against a 52-week range of $79.50 to $95.60, Deere also trades at only about 10-times expected earnings. Estimates are $1.89 EPS and $8.7 billion in revenue.

J. C. Penney Company Inc. (NYSE: JCP) is due on Wednesday morning. The retail giant is no market mover at all, but it is fighting for relevance and has many shareholders who are being battled by many short sellers as well. The company’s plan remains somewhat elusive and we are not sure how the analyst community will have accounted for that dilutive offering that brutalized an already battered shareholder base. Earnings estimates are -$1.72 EPS on $2.8 billion in revenue.

Pandora Media Inc. (NYSE: P) is another one that is not systemic at all but one which could be very volatile after earnings on Thursday. The digital online music company is now worth over 45 billion and shares have tripled from the lows. Estimates are expected to be $0.06 EPS and almost $175 million. It would seem to us that the company has to blow away expectations to keep the bulls happy here.

Target Corp. (NYSE: TGT) is the other huge retailer due with earnings and its report will be announced on Thursday before the market opens. Estimates are $0.63 EPS and almost $17.4 billion in revenue. Trading at about 17.2-times expected earnings, Target is lagging the market with gains of only about 14% so far in 2013.

The Gap, Inc. (NYSE: GPS) reports on Thursday after the close. Despite being range-bound of late, the stock is still up 37% year to date. It trades at just over 15-times expected earnings and is worth just under $20 billion in market cap. Gap remains a turnaround, but one successful turnaround. Estimates are $0.71 EPS and $3.98 billion in revenue.