Earnings Previews: Campbell Soup, Express, Stitch Fix, W&T Offshore, Zim Integrated Shipping

W&T Offshore

W&T Offshore Inc. (NYSE: WTI) is a producer of oil and natural gas on the U.S. continental shelf in the Gulf of Mexico. Over the past 12 months, the stock has added 44.4% to its share price, all of it in the past two weeks. During that period, shares have traded at nearly double their average 30-day volume. W&T’s market cap is nearing $1 billion for the first time in about three years. High and rising oil prices can do that. The company reports quarterly results on Tuesday after the markets close.

This is another lightly tracked stock, with just two analysts covering the shares. One has given the stock a Buy rating and the other a Strong Buy rating. At a share price of around $6.70, the upside potential is 3.7% based on a median price target of $6.95. At the high target of $7.40, the upside potential is 10.4%.

For the company’s fourth quarter of fiscal 2021, the consensus revenue estimate is $144.98 million, up by 8.2% sequentially and by 53% year over year. Adjusted EPS are forecast at $0.09, up from flat sequentially and from a loss per share of $0.05 year over year. For the full fiscal year, current estimates call for EPS of $0.23, compared to last year’s loss of $0.16 per share, on sales of $537.19 million, up by 55%.

W&T Offshore stock trades at 28.8 times expected 2022 EPS, 6.3 times estimated 2023 earnings of $1.05 and 5.3 times estimated 2024 earnings of $1.25 per share. The stock’s 52-week range is $2.64 to $6.68. The high was posted earlier in the morning The company does not pay a dividend. Total shareholder return for the past year was 44.3%.

Zim Integrated Shipping

Shares of Zim Integrated Shipping Inc. (NYSE: ZIM) have added about 300% over the past 12 months. The Israel-based company provides container shipping internationally, as well as in Israel, and has seen a surge in demand and pricing since coming public in January of last year. The company reports results first thing Wednesday morning.

It remains to be seen what effect President Biden’s remarks last week will have on shipping companies. In his State of the Union address, Biden announced a  crackdown on “foreign-owned [shipping] companies [that have] raised prices by as much as 1,000% and made record profits.” Since those remarks, Zim’s stock fell then rose, and, at last look, traded about flat with its pre-speech level.

Of eight brokerages covering the company, five have a Buy rating, two have rated the shares at Hold and the other has a Strong Sell rating on the stock. At a share price of around $69.70, the upside potential based on a median price target of $85.00 is 22%. At the high target of $100.00, the upside potential is 43.4%.

For the company’s fourth quarter of fiscal 2021, the consensus revenue estimate is $3.37 million, up by 7.3% sequentially and by 148% year over year. Adjusted EPS are forecast at $13.20, up 8.5% sequentially and 280% higher year over year. For the full fiscal year, current estimates call for EPS of $38.28, up 674%, on sales of $10.63 billion, up by 166%.

Zim stock trades at 1.8 times expected 2021 EPS, 2.1 times estimated 2022 earnings of $33.63 and 6.1 times estimated 2023 earnings of $11.46 per share. The stock’s 52-week range is $18.70 to $75.33. The high was posted last Friday. The company pays an annual dividend of $2.50 (yield of 14.30%). Total shareholder return for the past year was 298.7%.

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