Investment Analysts’ Updated EPS Estimates for July, 7th (ALB, AMADY, CBG, CFR, CHD, COST, EIF, FLIR, FTNT, HBHC)
Albemarle Corporation (NYSE:ALB) had its buy rating reissued by analysts at Aegis.
Amadeus IT Holding SA (OTC:AMADY) was upgraded by analysts at Barclays PLC from an underweight rating to an equal weight rating.
CBRE Group (NYSE:CBG) was upgraded by analysts at Zacks Investment Research from a hold rating to a buy rating. They currently have $40.00 target price on the stock. According to Zacks, “Shares of CBRE outperformed the Zacks categorized Real Estate – Operations industry, over the past six months. In June, the company inked a definitive agreement to acquire a majority interest in Caledon Capital Management Inc, a Toronto-based infrastructure and private equity solutions provider. This acquisition is an excellent addition to the existing array of real estate and investment solutions offered by CBRE Global Investors. Moving ahead, its extensive real estate products and services offerings, improving leasing, property sales and outsourcing business, strategic in-fill acquisitions, transformational deals, and healthy balance sheet are expected to drive results. However, uneasiness in certain economies and unfavorable foreign currency movement remain concerns for the company.”
Cullen/Frost Bankers (NYSE:CFR) was upgraded by analysts at Zacks Investment Research from a hold rating to a buy rating. The firm currently has $107.00 target price on the stock. According to Zacks, “Cullen/Frost's shares outperformed the Zacks categorized Southwest Banks industry in the past one year. With further rise in interest rates and improving non-interest bearing deposits, the company's net interest income and net interest margin is expected to grow. Further, approval of the Financial Choice Act will support its profitability. Though, rising costs stemming mainly from expanding franchise are likely to deter bottom-line growth to some extent, Cullen/Frost’s strong capital position keeps it well poised to continue capital deployment activities, thereby boosting shareholders’ confidence.”
Church & Dwight Company (NYSE:CHD) was upgraded by analysts at Zacks Investment Research from a hold rating to a buy rating. They currently have $58.00 price target on the stock. According to Zacks, “Shares of Church & Dwight have outperformed the sector over the past six months. We believe that a stable portfolio of value and premium products along with robust sales and earnings growth help propel the stock. Church & Dwight’s international consumer business has also been significantly contributing towards its organic sales growth. Besides maintaining tight controls on overhead costs, the company has been mitigating the impact of same through cost reduction programs. The company also has a robust acquisition history. The recent acquisitions of Agro BioSciences, VIVISCAL business and ANUSOL and RECTINOL brands are expected to add further strength to its sturdy portfolio. However, unfavorable currency, pricing pressures, rising commodity costs, seasonality in business and stiff competition will continue to remain woes. Estimates have also remained stable ahead of the second quarter results.”
Costco Wholesale Corporation (NASDAQ:COST) had its buy rating reiterated by analysts at Stifel Nicolaus.
Exchange Income (TSE:EIF) had its sector perform rating reaffirmed by analysts at Royal Bank Of Canada. They currently have a C$38.00 target price on the stock.
Stephens started coverage on shares of FLIR Systems (NASDAQ:FLIR). The firm issued an overweight rating on the stock.
Fortinet (NASDAQ:FTNT) was upgraded by analysts at Zacks Investment Research from a hold rating to a buy rating. They currently have $43.00 price target on the stock. According to Zacks, “Fortinet is a provider of network security appliances and Unified Threat Management (UTM) network security solutions. The stock has outperformed the broader market on YTD basis. Despite persistent macro uncertainties, management seems to be positive on the back of a healthy network security market, solid product line-up and investment plans. Going ahead, we believe that the company’s strategy of focusing on selling subscription-based services will enable it to generate more stable revenues and help in expanding margins. Furthermore, acquisitions are a major positive for Fortinet as these help it to strengthen its product portfolio and capabilities, thereby boosting its top-line performance. Nonetheless, competition from key network security players such as Cisco Systems, Check Point, Juniper and Palo Alto Networks, remains a concern.”
Hancock Holding Company (NASDAQ:HBHC) was upgraded by analysts at Zacks Investment Research from a hold rating to a buy rating. They currently have $55.00 target price on the stock. According to Zacks, “Hancock’s shares outpaced the Zacks categorized Southeast Banks industry in the last six months. The company’s strategic initiatives on the back of several investments are expected to accelerate revenue generation, going forward. With the passage of the Financial Choice Act, the company is likely to increase lending activities, which along with improving loan and deposit balances will lead to further improvement in top-line. Moreover, the company’s acquisition of the First NBC Bank branches is expected to be accretive to earnings. However, continued pressure on net interest margin and exposure to risky loan portfolios remain major near term concerns for the company.”
IDACORP (NYSE:IDA) was upgraded by analysts at Zacks Investment Research from a sell rating to a hold rating. According to Zacks, “Year to date shares of IDACORP has returned higher than the broader industry. IDACORP stands to gain from improving economic conditions in service territories, which, in turn, is increasing the demand for utility services. The utility has plans to invest nearly $1.5 billion over 2017–2021 for transmission and plant expansion projects, which will allow the company to provide efficient services to its expanding customer base. However, the company operates under stringent regulatory environment, and operation of its hydro-electric power generation units require licenses and the permitting process could involve a number of stringent conditions which may lead to significant capital expenditures. Currently, the valuation of the company appears to be stretched on a P/E multiple basis.”
Everest Re Group (NYSE:RE) was upgraded by analysts at Zacks Investment Research from a hold rating to a buy rating. Zacks Investment Research currently has $293.00 price target on the stock. According to Zacks, “Shares of Everest Re outperformed the Zacks categorized Property and Casualty industry year to date. Everest Re is well positioned in the insurance and reinsurance industries. The insurer has substantially benefited from its global presence, product diversification, capital adequacy, financial flexibility and traditional risk management capabilities. Banking on favorable operational performance the company enjoys disciplined capital management strategy and strong capital balance position. However, a competitive reinsurance market and exposure to catastrophe events infusing underwriting volatility remain headwinds. The company is set to release second quarter results on Jul 24. A Zacks Rank #2 increases the predictive power of a beat, but combined with Earnings ESP of 0.00% makes prediction difficult.”
Reinsurance Group of America, (NYSE:RGA) was upgraded by analysts at Zacks Investment Research from a hold rating to a buy rating. They currently have $145.00 target price on the stock. According to Zacks, “Reinsurance Group continues to benefit from a mix of organic and transactional opportunities. Its niche position in the U.S. and Canadian reinsurance markets and the expansion of its international operations and diversified earnings stream are positives. Moreover, it is poised to benefit from an improving life reinsurance pricing environment. Thus the company expects operating income per share to grow 5% to 8% and operating ROE between 10% and 12% in the intermediate term. Reinsurance Group also witnessed estimates moving up over the last 60 days. However, exposure to foreign exchange volatility, weak Australian business and evolving capital requirements pose headwinds for the company in near term. Shares of Reinsurance Group underperformed the Zacks categorized Life Insurance industry, year to date. Also a Zacks Rank #2 when combined with Earnings ESP of -4.51% makes prediction difficult for a definite beat or miss as per our proven model.”
RenaissanceRe Holdings (NYSE:RNR) was upgraded by analysts at Zacks Investment Research from a sell rating to a hold rating. According to Zacks, “RenaissanceRe’s strength lies in its inorganic growth initiatives and efficient capital management strategies. A modest financial position has paved the way for those capital deployment activities that include share buy back programs and dividend payments at regular intervals. However, year to date, the shares have gained 3% only compared with 5.6% increase of the Zacks categorized Property & Casualty Insurance industry. This underperformance might have stemmed from the company’s exposure to pricing pressures over the past few quarters due to a challenging reinsurance market that has been affecting top-line growth. Also, the company's weak investment portfolio raises caution. As a property & casualty insurer, it remains exposed to catastrophe losses. The company has scheduled to report its second quarter earnings results after the market closes on Jul 25, 2017.”
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