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Earnings Previews: Airbnb, AMD, Livent

Consensus estimates call for first-quarter revenue of $5.58 billion, which would be up 15.6% sequentially and 61.7% higher year over year. Adjusted EPS of $0.92 are flat sequentially and up 43.5% year over year. For the full 2022 fiscal year, analysts’ current consensus estimates call for EPS of $4.03, up 44.6%, on revenue of $25.46 billion, up 54.9%.

AMD stock trades at 21.2 times expected 2022 EPS, 17.6 times estimated 2023 earnings of $4.85 and 14.6 times estimated 2024 earnings of $5.86 per share. The stock’s 52-week range is $72.50 to $164.46. AMD does not pay a dividend, and total shareholder return over the past year is 1.9%.

Airbnb

Over the past 12 months, shares of vacation rental provider Airbnb Inc. (NASDAQ: ABNB) have declined by nearly 15%. Since posting a 52-week high in mid-November, the shares are down about 23%. Last week, the company announced a flexible work plan that essentially allows staff to live and work anywhere. Among the plan’s key features is one that allows people to move to any location in the country they work in without changing the employee’s compensation.

Of 39 brokerages covering the stock, 20 have a Hold rating while 16 have either Buy or Strong Buy ratings. At a share price of around $153.20, the upside potential based on a median price target of $200 is 30.5%. At the high price target of $250, the upside potential is 63.2%.

First-quarter revenue is forecast at $1.45 billion, down about 5.2% sequentially but up 63.5% year over year. Airbnb is expected to post a loss per share of $0.24, significantly better than the prior year’s quarterly loss of $1.75. For the full year, analysts are looking for EPS of $1.42, far less than the year-ago loss of $0.39, on revenue of $7.87 billion, up 31.4%.

Airbnb stock trades at 102.8 times expected 2022 EPS, 70.9 times estimated 2023 earnings of $2.16 and 54 times estimated 2024 earnings of $2.84 per share. The stock’s 52-week range is $129.71 to $212.58. The company does not pay a dividend, and total shareholder return over the past year is negative 13.8%.

Livent

Lithium producer Livent Corp. (NYSE: LTHM) has seen its share price rise by more than 13% over the past 12 months. Since posting an all-time high last November, the stock is down 34%. Battery-grade lithium currently sells for around $70,000 per metric ton, just shy of an all-time high of more than $75,000 posted in mid-March. Demand for the material is expected to remain high but could be moderated as new mines come online.

Of 13 analysts covering the stock, eight have a Hold rating while another five rate the stock as a Buy or Strong Buy. At a share price of around $21.40, the implied upside based on a median price target of $29 is 35.5%. At the high price target of $41, the implied upside is 91.6%.

First-quarter revenue is forecast at $139.92 million, up 13.9% sequentially and 52.6% year over year. Adjusted EPS are forecast at $0.14, up 72.5% sequentially and up from EPS of $0.02 per share in the year-ago quarter. For the full 2022 fiscal year, EPS is currently forecast at $0.61, up 241%, on revenue of $585.49 million, up 39.3%.


Livent stock trades at 34.8 times expected 2022 EPS, 22.9 times estimated 2023 earnings of $0.90 and 22.9 times estimated 2024 earnings of $0.93 per share. The stock’s 52-week range is $16.32 to $33.04. Livent does not pay a dividend. Total shareholder return for the past year was 17.7%.

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