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COCA-COLA: The world’s largest soft drink manufacturer is expected to report its first-quarter earnings of $0.50 per share, which represents a year-over-year decline of about 2% from $0.51 per share seen in the same quarter a year ago.

The company’s revenue growth to be flat at $8.6 billion. However, in the last two years, on average, Coca-Cola has beaten revenue estimates over 70% and earnings estimates of nearly 90%.

Coca-Cola, which has still not seen a full recovery to its pre-COVID-19 level, may be a decent investment opportunity at the moment. The stock traded around $60 pre-COVID in February 2020 and is 11% below that level. However, the stock has gained 40% since its March lows of $37, following the Fed’s stimulus package and measures announced by other economies. The gradual lifting of lockdowns and successful vaccine rollout has further enthused markets in anticipation of faster economic recovery,” noted analysts at TREFIS.

“However, the stock is unlikely to surpass its pre-Covid level anytime soon, as most of its business depends on demand from people going to entertainment venues, sporting events, etc. These locations are not yet fully operational in most parts of the world. With the recent spike in Covid cases, there are some forms of lockdowns imposed again in certain economies, thus slowing the recovery in demand. Therefore, in the absence of another complete lockdown (as was seen in 2020) and implementation of the vaccination program the stock is likely to rise, but full recovery to February 2020 levels looks unlikely in the near term. KO stock has a potential upside of about 10%.”

UNITED AIRLINES: One of the largest airlines in the world is expected to report a loss for the fifth consecutive time of $6.91 in the first quarter of 2021 on April 19 as the aviation service provider continues to be negatively impacted by the ongoing COVID-19 pandemic and renewed travel restrictions.

That would represent a year-over-year decline of over 168% from -$2.57 per share seen in the same quarter a year ago. The Chicago-based airline’s revenue would decline about 60% to around $3.3 billion.

“Most of the US airlines will report 1Q21 earnings the week of April 19 and 26. We expect the focus to be on higher fuel costs, the nascent traffic recovery, and improving the balance sheet. Our focus remains on domestic leisure airlines while watching borders reopening to determine recovery for international traffic. We also expect airlines to talk about repairing their balance sheet,” said Helane Becker, equity analyst at Cowen and Company.

TAKE A LOOK AT OUR EARNINGS CALENDAR FOR THE FULL RELEASES FOR THE APRIL 19

Ticker Company EPS Forecast
KO Coca-Cola $0.50
PLD ProLogis $0.37
MTB M&T Bank $3.00
ONB Old National Bancorp $0.41
UAL United Airlines Holdings -$6.98
CCK Crown $1.37
STLD Steel Dynamics $1.84
ZION Zions Bancorporation $1.18
PNFP Pinnacle Financial Partners $1.43
ACC American Campus Communities $0.15
HXL Hexcel -$0.16
WTFC Wintrust Financial $1.40
FNB FNB $0.25
SFBS ServisFirst Bancshares $0.95
HDS HD Supply Holdings $0.39
IBM IBM $1.68
EIDX Eidos Therapeutics Inc -$0.80
LII Lennox International $1.25
CDNS Cadence Design Systems $0.74

 

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Tuesday (April 20)

IN THE SPOTLIGHT: NETFLIX

The California-based global internet entertainment service company is expected to report its first-quarter earnings of $2.97 per share, which represents year-over-year growth of over 90% from $1.57 per share seen in the same quarter a year ago. The streaming video pioneer would post revenue growth of over 23% to around $7.15 billion.

“We expect paid net adds to be in line with guide, helped in part by ongoing COVID shutdowns in some markets. Our view is supported by our positive 1Q survey data, which implies NFLX continues to lead living room TV apps. We also view the 45% of survey respondents who share passwords as a LT opp’ty for incremental subs. Reiterate Outperform & $675 Price Target,” noted John Blackledge, equity analyst at Cowen and Company.

TAKE A LOOK AT OUR EARNINGS CALENDAR FOR THE FULL RELEASES FOR THE APRIL 20

Ticker Company EPS Forecast
ABF Associated British Foods £17.31
XRX Xerox $0.29
AN AutoNation $1.85
DOV Dover $1.45
JNJ Johnson & Johnson $2.33
PG Procter & Gamble $1.19
ABT Abbott $1.27
PM Philip Morris International $1.40
LMT Lockheed Martin $6.31
DANOY Danone PK $0.46
TRV Travelers Companies $2.38
FITB Fifth Third Bancorp $0.69
EDU New Oriental Education Tech $0.06
NTRS Northern $1.49
KEY KEY $0.47
OMC Omnicom $1.13
CMA Comerica $1.38
SNV Synovus Financial $0.93
HOG Harley Davidson $0.90
IRDM Iridium Communications -$0.05
MAN ManpowerGroup $0.67
WBS Webster Financial $0.90
GATX GATX Corp $0.89
SFNC Simmons First National $0.52
BMI Badger Meter $0.42
NFLX Netflix $2.97
ISRG Intuitive Surgical $2.64
CSX CSX $0.96
EW Edwards Lifesciences $0.47
WRB W.R. Berkley $0.83
IBKR Interactive Brokers $0.87
THC Tenet Healthcare $0.73
HWC Hancock Whitney Corp $0.97
UCBI United Community Banks $0.64
FULT Fulton Financial $0.35
FMBI First Midwest Bancorp $0.37
EMR Emerson Electric $0.89
PCAR PACCAR $1.29
TER Teradyne $1.04
ENTG Entegris $0.72
CIT CIT $0.98
AVNT Avient Corp $0.71
ELS Equity Lifestyle Properties $0.35
PACW Pacwest Bancorp $0.91
BECN Beacon Roofing Supply $0.08

 

Wednesday (April 21)

IN THE SPOTLIGHT: SIGNATURE BANK

The New York-based full-service commercial bank is expected to report its first-quarter earnings of $2.85 per share, which represents year-over-year growth of over 50% from $1.88 per share seen in the same quarter a year ago. The bank would post revenue growth of about 18% to around $428 million.

SBNY has a unique business model, with its single-point-of-contact bankers, excellent credit culture, and a highly efficient operating structure. Its loan growth continues to outpace peers, given its relatively new focus on growing its PE/VC capital call lending business, while strategically de-emphasizing its NYC MF portfolio,” Ken Zerbe, equity analyst at Morgan Stanley.

“While we do expect losses in SBNY’s CRE portfolio, we believe the market is overly discounting this in the stock price, particularly given its strong underwriting history and conservative lending.”

TAKE A LOOK AT OUR EARNINGS CALENDAR FOR THE FULL RELEASES FOR THE APRIL 21

Ticker Company EPS Forecast
HCSG Healthcare Services $0.27
ERIC Ericsson $0.11
TEL TE Connectivity $1.48
NDAQ Nasdaq Omx $1.72
RCI Rogers Communications USA $0.53
BKR Baker Hughes Co $0.11
HAL Halliburton $0.17
RANJY Randstad Holdings $0.46
SBNY Signature Bank $2.85
FHN First Horizon National $0.35
KNX Knight Transportation $0.70
BOKF BOK Financial $1.92
NEP Nextera Energy Partners $0.33
FCFS FirstCash $0.70
ASML ASML $3.06
NEE NextEra Energy $0.58
ANTM Anthem $6.38
LAD Lithia Motors $4.74
CP Canadian Pacific Railway USA $4.35
CACI Caci International $3.68
CMG Chipotle Mexican Grill $4.89
KMI Kinder Morgan $0.24
DFS Discover Financial Services $2.81
WHR Whirlpool $5.04
GGG Graco $0.50
GL Globe Life Inc $1.63
SLM SLM $1.05
REXR Rexford Industrial Realty $0.06
LSTR Landstar System $1.63
FR First Industrial Realty $0.24
RLI RLI $0.66
VMI Valmont Industries $1.92
SLG SL Green Realty -$0.14
UFPI Universal Forest Products $0.87
UMPQ Umpqua $0.44
TCBI Texas Capital Bancshares $1.09
BXS BancorpSouth $0.63
SNBR Scs Group Plc $1.85
CNS Cohen & Steers $0.76
RUSHA Rush Enterprises $0.52
PLXS Plexus $1.25
TBK Triumph Bancorp $0.91
BDN Brandywine Realty $0.02
EFX Equifax $1.53
LRCX Lam Research $6.60
CCI Crown Castle International $0.53
STL Sterling Bancorp $0.46
CHDN Churchill Downs $0.64
NWE Northwestern $1.12
RHI Robert Half International $0.80
SEIC SEI Investments $0.88
CVBF CVB Financial $0.37
LVS Las Vegas Sands -$0.27
PKX Posco $2.22
URI United Rentals $3.08
BZLFY Bunzl plc $0.15
ELISA Elisa Oyj €0.51

 

Thursday (April 22)

IN THE SPOTLIGHT: SVB FINANCIAL

The parent of Silicon Valley Bank is expected to report its first-quarter earnings of $6.47 per share, which represents year-over-year growth of about 153% from $2.55 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 45%. The Santa Clara, California-based company would post revenue growth of over 50% to about $1.24 billion.

SIVB is one of the fastest-growing banks in our coverage universe, with an average of 20%+ loan and deposit growth annually since 2010, with the growth driven by its unique niche of lending to the technology and life sciences industries, including PE and VC capital call lines. While we expect growth to slow, we still see low-teens loan growth (well above peers) for the next several years,” noted Ken Zerbe, equity analyst at Morgan Stanley.

“We are Equal-weight the shares due to valuation. SIVB is trading at just over 20x forward earnings and more than 10 P/E points above its peers (versus a 4-6x multiple premium that we believe it deserves). SIVB‘s earnings are highly sensitive to changes in Fed funds. Rate increases would drive higher EPS.”

TAKE A LOOK AT OUR EARNINGS CALENDAR FOR THE FULL RELEASES FOR THE APRIL 22

Ticker Company EPS Forecast
WSO Watsco $0.88
LUV Southwest Airlines -$1.88
VLO Valero Energy -$1.56
AAL American Airlines -$4.18
HCA HCA $3.31
SAP SAP $1.21
GPC Genuine Parts $1.14
FRME First Merchants $0.78
NUE Nucor $3.07
FCX Freeport-McMoran $0.51
PNR Pentair Ordinary Share $0.61
ALK Alaska Air -$3.68
SASR Sandy Spring Bancorp $1.02
ORI Old Republic International $0.46
DOW Dow Chemical $1.10
DHR Danaher $1.74
WNS Wns Holdings $0.69
FAF First American Financial $1.31
RS Reliance Steel & Aluminum $3.55
T AT&T $0.78
UNP Union Pacific $2.08
TPH Tri Pointe Homes $0.47
TAL TAL International -$0.23
HBAN Huntington Bancshares $0.32
AEP American Electric Power $1.18
BIIB Biogen $5.02
DHI DR Horton $2.18
EWBC East West Bancorp $1.25
BX Blackstone $0.75
DGX Quest Diagnostics $3.74
POOL Pool $1.14
ALLE Allegion $1.02
CLF Cliffs Natural Resources $0.35
TSCO Tractor Supply $0.97
TRN Trinity Industries $0.06
MKTX MarketAxess $2.12
BKU BankUnited $0.74
SNA Snap-On $3.03
IQV IQVIA Holdings Inc $1.85
SON Sonoco Products $0.86
ODFL Old Dominion Freight Line $1.58
SKX Skechers USA $0.49
INDB Independent Bank $1.09
HTH Hilltop $1.01
CE Celanese $2.98
OZK Bank Ozk $0.86
FFBC First Financial Bancorp $0.47
CSL Carlisle Companies $0.68
SAM Boston Beer $2.60
STX Seagate Technology $1.33
VICR Vicor $0.19
WWE World Wrestling Entertainment $0.20
ABCB Ameris Bancorp $1.13
ARI Apollo Commercial Real Est Finance $0.33
GBCI Glacier Bancorp $0.75
SBCF Seacoast Banking Of Florida $0.48
VRSN Verisign $1.34
MAT Mattel -$0.34
WSFS Wsfs Financial $0.86
SNAP Snap -$0.21
SIVB SVB Financial $6.47
ASB Associated Banc $0.43
FE FirstEnergy $0.69
ADS Alliance Data Systems $3.21
CTXS Citrix Systems $1.42
PBCT People’s United Financial $0.34
CAJ Canon $0.27
WST West Pharmaceutical Services $1.42
NVR NVR $61.90
FFIN First Financial Bankshares $0.37
VVV Valvoline Inc $0.37
SAFE 3 Sixty Risk $0.33
ASR Grupo Aeroportuario Del Sureste $23.55
ORAN Orange $0.24
INTC Intel $1.14
KPELY Keppel Corporation $0.14
SAVE Spirit Airlines -$2.55
CS Credit Suisse -$0.40

 

Friday (April 23)

Ticker Company EPS Forecast
SXT Sensient Technologies $0.75
ALV Autoliv $1.43
SLB Schlumberger $0.18
AXP American Express $1.60
KMB Kimberly Clark $1.93
HON Honeywell International $1.80
RF Regions Financial $0.47
GNTX Gentex $0.49
E ENI $0.42

 

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