Investment Analysts’ Updated EPS Estimates for October, 13th (AA, AAON, ACN, ALK, AZ, BAX, BT, CG, CSAL, DOV)
Alcoa (NYSE:AA) was downgraded by analysts at Zacks Investment Research from a buy rating to a hold rating. According to Zacks, “Alcoa’s revenues and adjusted earnings for third-quarter 2016 missed the respective Zacks Consensus Estimate. Lower alumina prices dragged down its sales in the quarter. Alcoa remains on track to complete its business separation. The company should gain from its aggressive cost-cutting and productivity actions. Recent major contract wins (including Embraer and Boeing deals) in aerospace are also expected to support its results. However, weak metals pricing may continue to hurt Alcoa’s revenues. The company's downstream business is also seeing sustained pricing pressure. Moreover, Alcoa is exposed to weakness in the heavy duty truck and trailer market in North America and building and construction market in Europe.”
Jefferies Group initiated coverage on shares of AAON (NASDAQ:AAON). The firm issued a buy rating and a $30.00 price target on the stock.
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Berenberg Bank started coverage on shares of Accenture PLC (NYSE:ACN). They issued a buy rating on the stock.
Alaska Air Group (NYSE:ALK) was upgraded by analysts at Buckingham Research from a neutral rating to a buy rating.
Allianz SE (NYSE:AZ) had its buy rating reissued by analysts at DZ Bank AG.
Allianz SE (NYSE:AZ) had its neutral rating reissued by analysts at JPMorgan Chase & Co..
Baxter International (NYSE:BAX) was upgraded by analysts at Zacks Investment Research from a hold rating to a buy rating. The firm currently has $53.00 price target on the stock. According to Zacks, “We believe Baxter is gaining prominence with a series of strategic developments that include the recent launch of NUMETA G13E in Europe for vulnerable preterm newborns, the strategic tie-up with Satellite Healthcare and the recognition of its Sigma spectrum infusion system as a highly efficient infusion pump in drug library compliance (analysis by KLAS research firm). We believe the launch of AMIA APD system with the SHARESOURCE Connectivity in Canada will expand the company’s international footprint. However, intense competition in the medical products segment and lackluster hospital spending are major concerns. Meanwhile, a glimpse on the estimate trends reveals that estimates are stable for the current year, before the company’s earnings release of third-quarter of fiscal 2016.”
BT Group PLC (NYSE:BT) had its neutral rating reaffirmed by analysts at JPMorgan Chase & Co..
The Carlyle Group (NASDAQ:CG) had its hold rating reissued by analysts at Jefferies Group.
Cowen and Company started coverage on shares of Communications Sales & Leasing (NASDAQ:CSAL). The firm issued an outperform rating and a $34.00 target price on the stock.
Dover Corp. (NYSE:DOV) was downgraded by analysts at Zacks Investment Research from a hold rating to a strong sell rating. According to Zacks, “Dover trimmed its full-year 2016 EPS and revenue outlook on the back of generally weaker capital spending across several industrial end markets, continued weakness in longer cycle oil & gas exposed markets and persistent headwinds in its retail refrigeration business related to production inefficiencies. The company also expects the macro global economy to remain soft through the end of the year. Further, the Wayne buyout related investigation remains a matter of concern. Moreover, foreign exchange volatility, higher restructuring charges and lower order activity will hurt Dover’s third quarter results. “
Deutsche Telekom AG (OTCMKTS:DTEGY) had its neutral rating reissued by analysts at JPMorgan Chase & Co..
Edison International (NYSE:EIX) was upgraded by analysts at Zacks Investment Research from a hold rating to a buy rating. Zacks Investment Research currently has $78.00 price target on the stock. According to Zacks, “Edison International remains focused on its transmission and distribution infrastructural development programs, and expansion of its operations. Its SCE unit targets average annual rate base and earnings growth of 7% through 2017 driven by infrastructural investment. In addition, Edison International boasts a solid financial position backed by strong cash generation capacity. However, the company presents a lower risk profile compared to its utility-only peers, with a strong portfolio of regulated utility assets and well-managed merchant energy operations. Meanwhile, any change in environmental rules, adverse decision of regulatory bodies, and power and coal price volatility are causes of concern. Moreover, any adverse decision on a General Rate Case (GRC) will greatly affect the utility's earnings growth, the company’s performance is subject to approvals from regulatory bodies.”
Franco-Nevada Corp. (NYSE:FNV) was downgraded by analysts at National Bank Financial from an outperform rating to a sector perform rating.
Assicurazioni Generali SpA (BIT:G) had its neutral rating reaffirmed by analysts at JPMorgan Chase & Co..
Level 3 Communications (NYSE:LVLT) was downgraded by analysts at Goldman Sachs Group Inc. from a conviction-buy rating to a buy rating.
Nokia Corp. (NYSE:NOK) had its outperform rating reissued by analysts at Credit Suisse Group AG. They currently have a $5.01 target price on the stock, down from their previous target price of $5.09.
Telefonica Deutschland (EU:O2D) had its neutral rating reaffirmed by analysts at JPMorgan Chase & Co..
Orange SA (EPA:ORA) had its buy rating reiterated by analysts at JPMorgan Chase & Co..
Pacific Gas & Electric Co. (NYSE:PCG) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “Cost of compliance to new and stringent regulations remains a major concern for PG&E Corporation. Moreover, penalties worth $1.6 billion levied for the 2010 San Bruno case and changes in environmental mandates could impact the company’s financial performance. Further, the operation and decommissioning of the utility’s nuclear power plants expose it to potentially significant liabilities. On a brighter note, PG&E Corporation’s systematic investments in infrastructure projects, backed by a stable financial position, will allow it to improve service reliability and meet increasing customer demand. The company’s stable financial position allows it to pay regular dividends, which in turn, help it to retain investor interest.”
Principal Financial Group (NYSE:PFG) was upgraded by analysts at Zacks Investment Research from a sell rating to a hold rating. According to Zacks, “Principal Financial’s focus on fee-based revenue sources has been helping it to earn steadily, and limits exposure to the interest rate environment. Annuity and insurance business also offer sustained earnings growth. The company’s inorganic story remains impressive with buyouts strengthening its international footprint. It also remains focused on effective capital deployment to enhance shareholder value. However, the company’s investment results will likely be hurt by a soft interest rate environment, restricting any major improvement. Escalating expenses pose concerns. The compnay is set to release third quarter results on Oct 27. However, our proven model cannot conclusively state if it will beat earnings because though Zacks Rank #3 increases the predictive power of a beat, combined with Earnings ESP of 0.00% makes prediction difficult. Nonetheless, the Zacks Consensus Estimate is pegged at $1.11, up 4.72% year over year.”
PNC Financial Services Group (NYSE:PNC) was downgraded by analysts at Zacks Investment Research from a buy rating to a hold rating. According to Zacks, “PNC Financial’s estimates have been relatively stable ahead its third-quarter 2016 earnings release. The company has positive record of earnings surprises in recent quarters. Notably, management projects net interest income and fee revenue to remain stable on a sequential basis in the third quarter. Further, the company remains focused on driving operational efficiency through its continued expense management. However, amid the still low rate environment, muted growth in net interest income and continued margin pressure remain key concerns. Also, stringent regulatory requirements and legal costs pose a near-term headwind.”
Rent-A-Center (NASDAQ:RCII) was downgraded by analysts at Zacks Investment Research from a hold rating to a strong sell rating. According to Zacks, “Rent-A-Center disappointed investors with its bleak preliminary guidance for third-quarter 2016. The company now expects Core U.S. same store sales to be down nearly 12% in the quarter while Acceptance Now same store sales is estimated to be flat. Core U.S. gross profit is likely to be flat year over year. The company anticipates earnings per share both on the GAAP and non-GAAP basis to be in the range of $0.05 to $0.15 per share. The technical snags and outages after the execution of new point-of-sale system negatively impacted Core sales and compelled management to hold a conservative view. Moreover, Rent-A-Center has been disappointing investors with its top-line performance for the past four consecutive quarters. Accelerated point of sale system rollout, persistent sluggishness across the computers and tablets categories, headwinds across the oil-impacted markets and continued smartphones recast impacted the results.”
Gibraltar Industries (NASDAQ:ROCK) was downgraded by analysts at Zacks Investment Research from a buy rating to a hold rating. According to Zacks, “Gibraltar Industries has been steadily boosting its business on the back of its productive value-creating growth strategy. Moreover, the strategic acquisition of Nexus is expected to fortify the formerly acquired RBI business. This will widen the company’s commercial greenhouse market share in the near term. Also, restructuring programs and capital-deployment plans have been driving near-term growth. However, certain headwinds, such as a stronger U.S. dollar, extensive industry rivalry or unfavorable government construction spending pattern, might limit the benefits generated from the above mentioned aspects. Over the last 60 days, the Zacks Consensus Estimate for the stock has not changed for 2016, however has been marginally revised upward for 2017. “
Royal Bank Of Canada (NYSE:RY) was upgraded by analysts at Canaccord Genuity from a hold rating to a buy rating.
Siemens AG (FRA:SIE) had its buy rating reiterated by analysts at Citigroup Inc..
Silver Wheaton Corp. (NYSE:SLW) was downgraded by analysts at National Bank Financial from an outperform rating to a sector perform rating.
Seaport Global Securities initiated coverage on shares of Sundance Energy Australia (NASDAQ:SNDE). They issued a buy rating and a $25.00 target price on the stock.
SolGold plc (LON:SOLG) had its buy rating reissued by analysts at SP Angel.
Swiss Re (OTCMKTS:SSREY) had its buy rating reiterated by analysts at JPMorgan Chase & Co..
FBN Securities assumed coverage on shares of Symantec Corp. (NASDAQ:SYMC). FBN Securities issued an outperform rating on the stock.
Telefonica SA (MCE:TEF) had its buy rating reiterated by analysts at JPMorgan Chase & Co..
UniCredit SpA (BIT:UCG) had its neutral rating reissued by analysts at JPMorgan Chase & Co..
Viacom (NASDAQ:VIA) was upgraded by analysts at Bank of America Corp. from an underperform rating to a buy rating. Bank of America Corp. currently has $44.00 target price on the stock, up from their previous target price of $37.00.
Vodafone Group PLC (NASDAQ:VOD) had its buy rating reiterated by analysts at JPMorgan Chase & Co..
Windstream Holdings (NYSE:WIN) was upgraded by analysts at Zacks Investment Research from a hold rating to a strong-buy rating. Zacks Investment Research currently has $9.50 target price on the stock. According to Zacks, “Windstream is well positioned for long-term growth based on its investments in fiber-to-the tower, broadband networks and proper cost management. Windstream’s new cloud-to-cloud disaster recovery management solutions replicates mission-critical virtual servers and data to provide an alternative system for cloud-based disaster recovery system to the customers. Also, it's recent plan to strengthen its fixed wireless networks services by upgrading it with millimeter wave radio technology bodes well with its expansion efforts. However, Windstream’s highly leveraged balance sheet, diminishing access lines, losses in the wholesale business and stringent regulatory measures are the near-term risks.”
Cowen and Company initiated coverage on shares of Windstream Holdings (NYSE:WIN). The firm issued a market perform rating and a $9.00 price target on the stock.
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