Investing

Earnings Previews: AMC Entertainment, Cronos, Hecla Mining, Li Auto, Peloton

AMC is not expected to post a profit in 2022, 2023 or 2024. The stock trades at a sales-to-enterprise value multiple of 3.8 times its forecast 2022 sales, 3.2 times 2023 estimated sales and 3.1 times the 2024 estimated sales. The stock’s 52-week range is $8.93 to $72.62, and AMC does not pay a dividend. Total shareholder return over the past year was about 60.2%.

Cronos

The share price of Canada-based marijuana producer Cronos Group Inc. (NASDAQ: CRON) has dropped more than 62% over the past 12 months. Over a two-year period, the shares are down almost 50%. Since hitting a peak during the meme stock blowup last February, shares are down close to 81%. Until U.S. law is changed to remove cannabis from the list of dangerous drugs, Cronos and the other Canadian cannabis suppliers can only try to consolidate and hold on.

Of 13 brokerages covering the stock, just three have a Buy or Strong Buy rating. Another eight have rated the shares at Hold. At a share price of around $3.00, the upside potential based on a median price target of $3.92 is 30.7%. At the high price target of $4.96, the implied gain is 62.3%.

First-quarter revenue is forecast at $25.26 million, down 2.4% sequentially and nearly double year over year. Analysts expect Cronos to report a loss per share of $0.08, a penny better than the prior quarter’s loss and better than last year’s quarterly loss of $0.11 per share. For the full 2022 fiscal year, the company is expected to post a loss per share of $0.29, compared with last year’s loss of $0.45 per share. Revenue is forecast to rise by 63.5% to $122.14 million.

Cronos is not expected to post a profit in 2022 or 2023. The stock trades at 66.1 times estimated 2024 earnings of $0.05 per share. The stock’s 52-week range is $2.84 to $9.42. Cronos does not pay a dividend, and total shareholder return for the past year was negative 61.9%.

Hecla Mining

Idaho-based Hecla Mining Co. (NYSE: HL) is the largest U.S. producer of silver. Over the past 12 months, the stock price has dropped by more than 18%.

Silver prices have bounced around in the past year, and the bounces have led to a decline of about 18% in the price of silver. In the first quarter of this year, Hecla produced 3.3 million ounces of silver, a sequential increase of 3%, and 41,642 ounces of gold, a 13% decline. The company expects silver production to increase this year and next. When Hecla reports quarterly results Tuesday morning, investors will be listening for more details on production and silver prices.

Of nine brokerages covering the stock, there are five Hold ratings and four Buy or Strong Buy ratings. At a trading price of around $5.10 a share, the upside potential to the median price target of $8.00 is 36.3%. At the high price target of $11, the upside potential is 73.8%.

First-quarter revenue is forecast to rise 0.55% sequentially and decline by 13.3% year over year to $186.09 million. Adjusted earnings per share (EPS) are forecast at $0.03, down 57.6% sequentially and 50.0% lower year over year. For full fiscal 2022, EPS are forecast to decline by 16.2% to $0.12 and revenue is expected to increase by 2.3% to $825.83 million.

Hecla stock trades at 42.3 times expected 2022 EPS, 23.3 times estimated 2023 earnings of $0.22 and 32.8 times estimated 2024 earnings of $0.15 per share. The stock’s 52-week range is $4.50 to $9.44, and the company pays an annual dividend of $0.04 per share (yield of 0.69%). Total shareholder return in the past year is negative 18.3%.

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