3 Key Earnings Reports to Watch in the Week Ahead
24/7 Wall St. has put together a preview of three of the larger companies reporting their quarterly results at the end of March and beginning of April.
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24/7 Wall St. has put together a preview of some of the larger companies reporting their quarterly results at the end of March and beginning of April. We have reviewed the consensus earnings estimates from Thomson Reuters and the stock price and trading history, as well as added some additional color on each. As a reminder, this coming week is a shortened week as financial markets will be closed in observance of Good Friday.
Monsanto
Monsanto Co. (NYSE: MON) is set to post its fiscal second-quarter results Wednesday before the opening bell. Consensus estimates call for earnings per share (EPS) of $2.93 and $5.58 billion in revenue.
Near-term headwinds in agriculture persist, but Monsanto believes that it has the ability to deliver new solutions to help farmers improve yields while efficiently using resources provides the opportunity to deliver growth in both the current environment and over the longer term. However, this quarter is not looking good. The company expects these earnings to be down 5% to 10% year-over-year, as it stated in its most recent earnings report.
Shares were changing hands at $112.73 on Friday’s close. The consensus price target is $135.05. The 52-week trading range is $105.76 to $128.79.
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CarMax
CarMax Inc. (NYSE: KMX) is scheduled to report its fiscal fourth-quarter financial results on Thursday before the U.S. markets open. The consensus estimates call for an EPS of $0.60 and $3.50 billion in revenue.
In the previous earnings report, there was continued strong performance in the used, wholesale and auto finance operations. This has been pushing the stock up near its 52-week highs over the past quarter. Perhaps another strong quarter is in the works.
Shares were trading at $66.69 at the end of Friday’s session, just below the consensus analyst price target of $67.36. The 52-week trading range is $42.54 to $68.71.
Micron Technology
Micron Technology Inc. (NASDAQ: MU) is scheduled to report its fiscal second-quarter earnings on Thursday after the markets close. The consensus estimates call for $0.76 in EPS and revenue of $4.18 billion.
Intel and Micron announced this week the availability of their 3D NAND technology, the world’s highest-density flash memory. As a result, 3D NAND technology is poised to make a dramatic impact, aiming for continued performance gains and cost savings, driving more widespread use of flash storage.
Shares were trading at $26.67 as the week came to a close. The consensus price target is $41.60, and the stock has a 52-week trading range of $21.02 to $36.59.
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Chris Lange is a financial and geopolitical writer with more than a decade of experience covering a myriad of topics. He has published thousands of articles for 24/7 Wall St., with past coverage focused heavily on stocks, IPOs, healthcare, defense, global affairs, and technology.
His work has been quoted, or referenced by a number of outlets including Business Insider, USA Today, Yahoo Finance, MSN, The Motley Fool, and many other publications. A graduate of Southwestern University, he studied business with a focus on investments and has previous experience in banking and startups.
When not reading or writing the news, he is following his passion for Lacrosse, playing chess, or building solar projects with his dad.
