While the Russian invasion of Ukraine continues and negotiations between the two countries have begun, U.S. companies will continue to report quarterly results this week. Events in Europe that are arguably far more important than company earnings may have a shorter, if sharper, impact on investors than do financial results and company outlooks for the future.
Several firms in the electric vehicle industry have reported or will report results Monday: Blink, Canoo, Lucid, Luminar and Velodyne Lidar. A major retailer, a leading PC maker and a struggling internet video conferencing firm are also on deck to report results after markets close Monday: HP, Sea Limited, Target and Zoom.
Here is a look at five companies scheduled to report quarterly results after markets close on Tuesday.
A year ago, AMC Entertainment Holdings Inc. (NYSE: AMC) was riding high. Shares had soared from around $2 to around $20 in late January and, after a brief pullback, were about to begin another run higher that would see the stock reach a high of $72.62 in early June. The stock still trades at nearly nine times its level in January of 2021, but enthusiasm for the shares has dimmed as company management disappointed a lot of retail investors recently by choosing to reduce rather than doing something to add to the company’s growth.
Just nine brokerages cover the stock. Only four rate the shares at Hold, and no analyst rates the stock a Buy. At the recent price of around $17.60 a share, the stock trades about three times higher than its median price target of $6.00. At the high price target of $35.10, the implied gain is 99%.
Fourth-quarter revenue is forecast at $1.11 billion, which would be up 46% sequentially and 583% higher year over year. Analysts expect AMC to report a loss per share in the fourth quarter of $0.25, better than the prior quarter loss of $0.44 per share and far better than last year’s quarterly loss of $3.15 per share. For the full year, AMC is expected to post a loss per share of $2.80, compared with last year’s loss of $16.15 per share. Revenue is forecast to double to $2.47 billion.
AMC is not expected to post a profit in 2021, 2022 or 2023. The stock trades at a sales multiple of 7.9 times its forecast 2021 enterprise value, 4.0 times 2022’s estimated value and 3.6 times the 2023 estimate value. The stock’s 52-week range is $7.50 to $72.62, and AMC does not pay a dividend. Total shareholder return over the past year was about 120.5%.
China-based EV maker Nio Inc. (NYSE: NIO) has dropped nearly 60% from its share price over the past 12 months. The stock’s only foray above the break-even line occurred on June 30. After sorting through some issues over the company’s structure, Nio expects to begin trading on the Hong Kong stock exchange on March 10. The automaker is not raising any cash from the listing, unlike competitors Xpeng and Li Auto, which raised about $2 billion and $1.7 billion, respectively, when they completed their secondary listings in Hong Kong.
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