There are relatively few earnings reports due out this week, and even fewer that generate a lot of investor interest (which we define as an average daily trading volume of around 2 million or more shares). Few doesn’t mean there are none, however.
Chinese agricultural products platform Pinduoduo reported quarterly results Monday morning that missed both earnings and revenue estimates, but the stock traded up more than 5% shortly after Monday’s opening bell.
After markets close on Monday, Nike and Tencent Music are on deck for earnings, with Carnival Cruise Lines and Chinese gaming platform Huya set to report on Tuesday morning. We have already taken a look at what to expect from these reports
Here we feature five companies set to report quarterly after markets close Tuesday or before markets open on Wednesday.
Software maker Adobe Inc. (NASDAQ: ADBE) is expected to report fourth-quarter fiscal 2021 results after Tuesday’s closing bell. Over the past 12 months, the stock has added just 2.2% to its share price, including a drop of about 22% in late November. Last week, Adobe added a feature to its Behance creative showcase platform that allows artists to connect their Behance accounts to a Phantom wallet and show off their Solana NFTs in their account profiles. Behance already has the ability to display its work on Ethereum’s blockchain.
Of 32 analysts covering the stock, 26 have given the shares a Buy or Strong Buy rating, and the other six have Hold ratings. At a recent price of around $450.50 a share, the upside potential based on a median price target of $640.00 is 42%. At the high target of $750, the upside potential is nearly 67%.
Fiscal first-quarter revenue is forecast at $4.24 billion, which would be up 3.1% sequentially and 8.4% higher year over year. Adjusted earnings per share (EPS) are forecast at $3.34, up 4.5% sequentially and 6.4% year over year. For the full fiscal year ending in November, analysts are currently forecasting EPS of $13.78, up 10.4%, on sales of $17.93 billion, up 13.6%.
Adobe stock trades at 32.6 times expected 2022 EPS, 27.7 times estimated 2023 earnings of $16.26 and 24.1 times estimated 2024 earnings of $18.70 per share. The stock’s 52-week trading range is $407.94 to $699.54. Adobe does not pay a dividend. Total shareholder return for the past year was 2.1%.
Shares of food products giant General Mills Inc. (NYSE: GIS) have added about 8.3% over the past 12 months, including a drop of nearly 10% since mid-January. The company is set to report results first thing Wednesday morning.
General Mills has suspended its marketing and capital investment in Russia, a move expected to nick less than 1% off its sales. The company’s Russian business is a joint venture with Nestle. While General Mills will feel the effect of rising raw materials costs, the company has sufficient pricing power to pass along at least some of that to consumers, but the impact on earnings will be noticeable.
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