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Earnings to Watch in Holiday-Shortened Week: Lululemon, Walgreens Boots and CarMax in Focus

Vivek Kumar
·4 minuto per la lettura
  • Monday (March 29)

  • Tuesday (March 30)

  • Wednesday (March 31)

  • Thursday (April 1)

  • Friday (April 2)

Earnings Calendar For The Week Of March 29

Monday (March 29)

No major earnings scheduled for release.

Tuesday (March 30)

IN THE SPOTLIGHT: LULULEMON ATHLETICA

The Vancouver-based healthy lifestyle-inspired athletic apparel company Lululemon Athletica is expected to report its fourth-quarter earnings of $2.48 per share, which represents year-over-year growth of about 9% from $2.28 per share seen in the same quarter a year ago.  In the last four consecutive quarters, on average, the company has delivered an earnings surprise of over 12%.

Lululemon would post year-over-year revenue growth of about 19% year-on-year to around $1.7 billion.

“We see upside to both Street 4Qe EPS & mgmt. guidance, as revenue, GM, & SG&A assumptions appear conservative. The recent pullback may make for an attractive entry point, though we acknowledge valuation remains full at 46x ’21e P/E. Stay Equal-weight for now, & trim price target to $386 on rising rates/WACC,” said Kimberly C Greenberger, equity analyst at Morgan Stanley.

“Expanded eComm capabilities, improved supply chain, better inventory management, and product initiatives led to enviable ’18-’19 performance and a robust return to pre-COVID-19 levels in 3Q20, making +mid-high-teens comps seem normal. Still, the current valuation appears extreme, so we stay EW. Compelling LT and post-COVID-19 growth opportunity driven by three factors: international expansion (maybe less evident in ‘20e given COVID-19 outbreak), digital growth, and product innovation. LULU dominates the NA athletic yoga apparel category due to its unique brand positioning and fashionable products, and its athleisure focus is further advantaged in a COVID-19 affected world.”

TAKE A LOOK AT OUR EARNINGS CALENDAR FOR THE FULL RELEASES FOR THE MARCH 30

Ticker

Company

EPS Forecast

BNTX

BioNTech SE

-$0.17

MKC

McCormick

$0.58

ASO

Avesoro Resources

$0.62

LULU

Lululemon Athletica

$2.48

IGMS

IGM Biosciences

-$0.74

PVH

PVH

-$0.37

BACHY

Bank China ADR

$0.46

CEA

China Eastern Airlines

-$0.49

GGB

Gerdau

$0.17

CUK

Carnival

-$1.54

CCL

Carnival

-$1.54

CCL

Carnival

-£1.12

 

Wednesday (March 31)

IN THE SPOTLIGHT: WALGREENS BOOTS ALLIANCE

Deerfield, Illinois-based retail pharmacy provider is expected to report its fiscal second-quarter earnings of $1.13 per share, which represents a year-over-year decline of over 25% from $1.52 per share seen in the same quarter a year ago.

The largest U.S. drugstore chain’s revenue would decline over 5% year-over-year to around $33.8 billion.

Walgreens Boots continues to maintain its estimates of low single-digit growth in adjusted earnings per share at CER in fiscal 2021. The Zacks Consensus Estimate for the same is currently pegged at $4.79. Although the company anticipates higher adverse impacts of the pandemic-led disruptions (including a weaker cough, cold, and flu season) during the second quarter of fiscal 2021, the adjusted earnings per share during the first half of fiscal 2021 is likely to be in line with the company’s earlier expectations,” noted analysts at ZACKS Research.

TAKE A LOOK AT OUR EARNINGS CALENDAR FOR THE FULL RELEASES FOR THE MARCH 31

Ticker

Company

EPS Forecast

WBA

Walgreens Boots Alliance

$1.13

AYI

Acuity Brands

$1.70

UNF

UniFirst

$1.68

MU

Micron Technology

$0.93

VRNT

Verint Systems

$0.81

CIG

Companhia Energetica Minas Gerais

$0.03

ZNH

China Southern Airlines

-$1.41

 

Thursday (April 1)

IN THE SPOTLIGHT: CARMAX

The used-car retailer’s fourth-quarter earnings is pegged at $1.27 cents on revenues of $5.15 billion, according to ZACKS Research.

“Store-expansion initiatives and high-quality product offerings are likely to boost CarMax’s prospects. The company’s omnichannel offerings to improve customer shopping experience is likely to bolster revenues. Increasing sales of used vehicles remain a bright spot for the firm. Solid performance from the wholesale segment also acts a booster,” noted analysts at ZACKS Research.

“Further, temporary cost-cut initiatives undertaken by the firm may offer respite. However, the auto parts retailer is likely to bear the brunt of rising selling, general & administrative (SG&A) expenses as the company resumes new store expansion. Also, the second wave of coronavirus could impact the company’s sales and profits. High debt levels also play a spoilsport. As such, the stock warrants a cautious stance.”

Friday (April 2)

No major earnings scheduled for release. The stock market is closed on April 2 for Good Friday.

This article was originally posted on FX Empire

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