2 Major Earnings Reports to Look Forward to on Wednesday
Netflix and Kinder Morgan are expected to report their fourth-quarter results on Wednesday. While they are not Dow components, these two companies are still widely followed by investors.
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[cnxvideo id=”625479″ placement=”ros”]The fourth-quarter earnings reporting season is underway, and most of the major banks, most recently Citigroup and Goldman Sachs, have already reported. Although these earnings have been relatively positive, the Dow has stepped away from its 20,000 mark, and it seems the animal spirits powering this rally might not be as positive as they once were.
24/7 Wall St has also put together a preview of Dow companies reporting results this week. Overall, one-sixth of the Dow is reporting, but this has not been enough to sustain the run that the Dow has made since the Trump rally.
In the meantime, a couple of other companies are about to report that could have a tremendous impact on the market. While they are not Dow components, these two companies are still widely followed by investors.
We have included the consensus earnings estimates from Thomson Reuters, as well as the stock price and trading history.
Keep in mind that the earnings and revenue estimates may change ahead of the formal reports, and some companies may reschedule reporting dates as well.
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Wednesday afternoon, Netflix Inc. (NASDAQ: NFLX) is scheduled to reveal its fourth-quarter results. The consensus estimates call for $0.14 in earnings per share (EPS), as well as $2.47 billion in revenue. The same period of last year reportedly had EPS of $0.10 and $1.82 billion in revenue.
Shares were trading at $132.55 early Wednesday. The consensus price target is $127.38. The stock has a 52-week range of $79.95 to $135.40.
The Kinder Morgan Inc. (NYSE: KMI) fourth-quarter results are due late on Wednesday as well. The consensus forecast calls for $0.19 in EPS and revenue of $3.54 billion. In the same period of last year, it posted EPS of $0.13 and $3.64 billion in revenue.
Its shares were last seen at $22.50, in a 52-week range of $11.20 to $23.36. The consensus price target is $25.28.
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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.
