Earnings Previews: AMC Entertainment, Cloudera, Oracle, Carnival, Ballard Power

In addition to a Sell rating from Goldman Sachs, 26 other analysts rate Oracle stock a Buy or Strong Buy, with nine recommending holding shares. The shares trade above the consensus price target of $67.66 by about $5, but they trade with potential upside of more than 12% to the high target.

Analysts estimate fiscal third-quarter EPS of $1.11, an improvement of more than 14% year over year on sales of $10.1 billion, an increase of 2.8%. Those estimates are right around the midpoints of Oracle’s own projections made when it reported second-quarter results in December. For the full fiscal year, analysts are looking for EPS of $4.36 on sales of $40.1 billion.

The stock trades at around 17 times expected 2021 earnings, 16 times expected 2022 EPS and 14 times expected 2023 EPS.


Like AMC, Carnival Corp. (NYSE: CCL), had a miserable 2020 due to the COVID-19 pandemic. Shares dropped about 57% in the year but have managed to tack on 24% so far in 2021 on hopes that vaccines and pent-up demand for cruises will get the company back on the right track. Carnival reports results before markets open Thursday.

As if to light a fire under the company, nine brokerage firms have a Strong Buy rating on the stock, and another six rate the stock as a Buy. Also, nine recommend holding the stock, and just one rates the shares at Underperform. Investors not wanting to be late to the party have pushed the shares to around $27, well above the consensus price target of $20.61. Yet, it may not be too late for those who believe in the high target of $33, which implies a gain of around 26% to the current trading price.

Analysts are looking for a fiscal 2021 fourth-quarter ending loss per share of $1.55 on revenue of $208.3 million, a decline of nearly 96% in revenue. For the fiscal year, estimates call for a net loss of $3.92 per share and revenue of $5.95 billion.

The cruise line operator’s stock traded at around 99 times expected 2022 earnings and 17 times expected 2023 earnings.

Ballard Power Systems

Quarterly and fiscal year 2020 results from Ballard Power Systems Inc. (NASDAQ: BLDP) are expected before markets open Thursday. The hydrogen fuel cell maker posted a share-price gain of 226% in 2020 and had added another 75% or so, until the bottom fell out of the tech sector in early February.

The shares traded up more than 11% Tuesday morning, following the company’s announcement of an order for additional fuel cell modules for a customer in Northern Ireland. In the announcement, Ballard noted that it is the supplier for more than 85% of 295 hydrogen-powered buses to be deployed throughout Europe by the middle of 2022.

The relatively tiny hydrogen fuel cell maker boomed last year, along with electric vehicle makers. Ballard is rated a Buy or Strong Buy by most analysts and Hold by the rest. There is even some headroom for investors looking for more. The stock currently trades at around $23.50, about $10 below its consensus price target of $33.34. That implies a potential upside of 41% at the current share price. Using a high target of $42, the implied upside is 81%.

Analysts expect Ballard to report a quarterly net loss of $0.04 per share on sales of $30.2 million and a full-year loss of $0.19 per share on sales of $106.2 million. The quarterly loss is equal to the loss reported in the same period a year ago, and the annual loss is three cents a share worse than a year ago. Revenue is also forecast to be lower for both the quarter and the year.

Ballard is not expected to report an annual profit in its 2021 or 2022 fiscal years.

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