Top 5 Earnings to Look for in the Coming Week

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This was perhaps one of the worst weeks of 2016 thus far, with both the Dow and S&P 500 tanking for multiple consecutive days. With the Federal Reserve having reached its decision Wednesday to maintain interest rates at their current level, investors may have thought that there would have been a turnaround in the markets, but that was not the case. Looking ahead, we have a few companies that are reporting during the summer doldrums that might be able to give a little push in the right direction.

24/7 Wall St. has put together a list of companies that are reporting their earnings in the coming week. We have included a brief preview, as well as a recent trading history, consensus price target, and the 52-week trading range.

Be advised that the earnings and revenue estimates may change ahead of the formal reports, and some companies may change reporting dates as well.

Adobe Systems

Look for Adobe Systems Inc. (NASDAQ: ADBE) to share its most recent quarterly results on Tuesday. The consensus estimates call for earnings per share (EPS) of $0.68 and $1.40 billion in revenue. This is a high-profile old-school software company that has been posting outstanding earnings. Adobe is also reasonably safe route for investors looking to own a company with Marketing Automation product, which has become huge.

Shares were trading at $95.58 at the close on Friday, in a 52-week trading range of $71.27 to $100.56. The stock has a consensus analyst price target of $110.38.

FedEx

Also on Tuesday, FedEx Corp. (NYSE: FDX) is scheduled to reveal its fiscal fourth-quarter results. The consensus estimates call for $3.28 in EPS, as well as $12.79 billion in revenue. Air freight and logistics do well in a tightening environment, and this company is the gold standard. Looking ahead and considering the strong third-quarter results, FedEx’s target for 12% Express operating margins in the fourth quarter, analysts increased their fiscal 2016 and fiscal 2017 EPS estimates across the board.

Shares of FedEx were trading at $162.25 on Friday’s close. The consensus price target is $179.52. The stock has a 52-week range of $119.71 to $178.34.

Red Hat

Its fiscal first-quarter report is expected from Red Hat Inc. (NYSE: RHT) on Wednesday. The analysts’ consensus estimates call for EPS of $0.50 and $562.76 million in revenue. Despite a high-beta valuation, Pacific Crest believes that Red Hat’s core business remains very strong to support its valuation of 34 times expected earnings. The company is also seen generating high levels of free cash flow ahead. This company is still growing earnings and revenues in the double-digit percentages.

The stock was changing hands at $77.30 a share on Friday’s close. The consensus price target is $88.50, and the 52-week range is $59.59 to $84.44.

Bed Bath & Beyond

When Bed Bath & Beyond Inc. (NASDAQ: BBBY) reports its fiscal first-quarter results on Wednesday, the consensus analyst forecast calls for $0.86 in EPS and revenue of $2.78 billion. This retail giant of household products has been public for roughly 25 years now. Bed Bath & Beyond had a very strong growth story for years, but that was before its recent spate of problems meeting earnings estimates or keeping guidance up. The company has turned to stock buybacks to boost earnings and shrink its float, but it gets to keep buying back stock at lower and lower share prices due to those disappointing headwinds.

Shares of Bed Bath & Beyond were trading at $43.85 as the week came to a close. The consensus price target is $48.00. The 52-week trading range is $41.26 to $71.68.

BlackBerry

BlackBerry Ltd. (NASDAQ: BBRY) is set to share its latest quarterly earnings on Thursday. The consensus estimates call for a net loss of $0.08 per share and $470.67 million in revenue. Looking ahead to the 2017 fiscal year, the company expects to grow software and services at around 30%. The company continues to anticipate positive free cash flow and adjusted EBITDA for the full 2017 fiscal year.

BlackBerry shares were trading at $7.01 on Friday’s close, in a 52-week range of $5.96 to $9.46. The consensus price target is $7.69.