Earnings Previews: Barrick Gold, ConocoPhillips, Exelon, Peloton

Analysts are more measured on Exelon now that the spinoff is behind the company. Eleven of 18 firms rate the shares at Buy or Strong Buy. At a share price of around $38.80, the upside potential is 12.1% at the consensus price target of $43.50 and around 29% at the high target of $50.00.

For the September quarter, Exelon is expected to report EPS of $0.70, up 60.0% sequentially but down 35.8% year over year, on revenue of $5.69 billion, up 34.2% sequentially and 36.1% lower year over year. For the full fiscal year, analysts have forecast EPS of $2.25, down 20% year over year, on revenue of $18.75 billion, down about 48.4%. The year-ago quarter included the power generation and retail businesses that were spun off in January.

Exelon stock trades at 17.2 times expected 2022 EPS, 16.2 times estimated 2023 earnings of $2.39 and 15.0 times estimated 2024 earnings of $2.58 per share. The stock’s 52-week range is $35.19 to $58.21. The company pays an annual dividend of $1.35 (yield of 3.48%). Total shareholder return for the past year was 4%.


Shares of fitness product maker Peloton Interactive Inc. (NASDAQ: PTON) have declined by 90% over the past 12 months. Shares have added 27% over the past month, however, following the company’s announcement of more staff cuts and a deal with retailer Dick’s Sporting Goods and e-commerce giant Amazon to carry Peloton equipment. In a proxy filing last week, the company revealed a compensation package worth up to $168 million to lure new CEO Barry McCarthy out of retirement.

Analysts remain moderately bullish on the company. Of 30 brokerages covering the shares, 15 have a Buy or Strong Buy rating while another 13 rate the stock a Hold. At a share price of around $9.00, the upside potential based on a median price target of $15.00 is 40%. At the high target of $25.00, the upside potential is about 178%.

For the company’s first quarter of fiscal 2023, ended in September, analysts expect revenue to total $637.07 million, down 6.2% sequentially and by 26.4% year over year. Analysts are also expecting a loss per share of $0.67, better than the $1.32 loss per share in the prior quarter and better than the $1.10 per-share loss in the year-ago quarter. For the full 2023 fiscal year, analysts estimate a loss per share of $2.22 compared to a loss of $4.62 per share in fiscal 2022 on revenue of $3.04 billion, down about 15.1%.

Peloton is not expected to post a profit in 2023, 2024 or 2025. Based on the current share price, the stock’s estimated 2023 enterprise value to sales multiple is 1.4. That multiple drops to 1.2 in 2024 and 1.1 in 2025. The stock’s 52-week range is $6.66 to $92.95, and Peloton does not pay a dividend. Total shareholder return over the past year is negative 90.3%.

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