Earnings Previews: JinkoSolar, Manchester United, Weber

Weber has not attracted a great deal of analyst interest, with just eight brokerages covering the company. Most (five) rate the stock a Hold, while the other three give shares a Buy or Strong Buy rating. At a price of around $14.80, the implied upside based on a median price target of $19 is about 28.4%. At the high target of $22, the upside potential is 48.6%.

Analysts expect the company to report revenue of $669.14 million and adjusted EPS of $0.36. No comparisons with prior quarters are available. For the last two quarters of Weber’s fiscal 2021, analysts are forecasting EPS of $0.52 on sales of $1.96 billion.

Weber stock trades at 28.8 times expected 2021 EPS, 24 times estimated 2022 earnings and 21.2 times estimated 2023 earnings. The stock’s post-IPO range is $14.13 to $20.44. Weber does not pay a dividend.

Manchester United

English Premier League football (soccer) club Manchester United PLC (NYSE: MANU) will report fiscal fourth-quarter results first thing Friday. Over the past year, the club’s share price is up nearly 11%, including a gain of more than 7% so far in 2021.

On August 31, the club announced that it had signed one of the game’s best players, Christiano Ronaldo, who began his playing career in 2003 with Manchester before departing for Real Madrid in 2009. His return to Manchester after 11 seasons energized the team’s fans, and the lifting of restrictions on spectators are expected to give the team’s chances and finances a boost.

Only three analysts cover the stock, and two rate the shares at Hold while the other has a Buy rating. At around $17.80 a share, the stock trades very near to its median price target of $17.96. At the high target of $22.03, the implied gain is nearly 24%.

Fourth-quarter revenue is forecast at $144.54 million, down more than 11% sequentially but up 77% over last year’s pandemic-plagued year. The club is expected to post an adjusted loss of $0.21 per share, a penny better than last year’s loss but worse than the third-quarter loss of $0.13 per share. For the full year, Manchester United is expected to post a loss per share of $0.22 on revenue of $689.05 million, up 9.2% year over year. The loss per share in 2020 was $0.10.

The stock trades at 65.9 times estimated 2022 earnings and 43.1 times estimated 2023 earnings. The stock’s 52-week range is $13.28 to $2022, and Manchester United pays an annual dividend of $0.18 per share (yield of 1.04%).

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