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Earnings Previews: Activision Blizzard, Amazon, Ford, Snap

Ford’s fourth-quarter revenue is forecast at $35.63 billion, up 7.3% sequentially and 7.2% year over year. Adjusted EPS are forecast at $0.41, down 19.2% sequentially but up 20.6% year over year. For full fiscal 2021, consensus estimates call for EPS of $1.85, up 350%, on sales of $126.66 billion, up 9.3%.

Ford stock trades at 11.2 times expected 2021 EPS, 10.1 times estimated 2022 earnings of $2.04 and 8.8 times estimated 2023 earnings of $2.35 per share. The stock’s 52-week range is $10.71 to $25.87. Ford pays an annual dividend of $0.40 (yield of 1.97%). Total shareholder return for the past year was 92.8%.

Snap

In the past two days, five brokerages have taken some action on Snap Inc. (NYSE: SNAP). Four of the five rate the stock the equivalent of a Buy, and the other rates it at Hold. Over the past 12 months, the stock has dropped 37%. Since reaching its latest 52-week high in late September, the stock is down nearly 60%. What analysts are betting on is higher daily active user (DAU) numbers, which they understand to mean that Snap is not going to get steamrolled by TikTok.

There are a total of 37 brokerages covering Snap stock. Analysts are solidly bullish, with 28 giving the stock a Buy or Strong Buy rating and nine rating the shares at Hold. At a share price of around $33.70, the upside potential based on a median price target of $65 is nearly 93%. At the high price target of $85, the upside potential is 152%.

Fourth-quarter revenue is forecast at $1.2 billion, up 12.6% sequentially and 31.7% year over year. Adjusted EPS are forecast at $0.10, down 40% sequentially but 10% higher year over year. For the full 2021 fiscal year, consensus estimates call for EPS of $0.36, compared to last year’s loss of $0.06 per share, on sales of $4.02 billion, up 60.4%.

Snap stock trades at 92.5 times expected 2021 EPS, 64.0 times estimated 2022 earnings of $0.53 and 30.1 times estimated 2023 earnings of $1.12 per share. The stock’s 52-week range is $28.02 to $83.34. Snap does not pay a dividend and total shareholder return for the past year was negative 42.8%.

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