In this article, we will take a look at the 10 stocks gaining attention after posting earnings reports. You can skip our detailed analysis of these companies and go directly to the 5 Stocks Gaining Attention After Posting Earnings Reports.
The fourth-quarter earnings season is underway. Notable companies, including Verizon Communications Inc. (NYSE:VZ), American Express Company (NYSE:AXP), Raytheon Technologies Corporation (NYSE:RTX), General Electric Company (NYSE:GE) and NextEra Energy, Inc. (NYSE:NEE), recently released their earnings reports.
Shares of Raytheon Technologies, General Electric and NextEra Energy fell on Tuesday, January 25, after they failed to meet revenue expectations for the fourth quarter. On the other hand, American Express shares jumped after posting upbeat financial results.
Photo by Nick Chong on Unsplash
We will review their detailed performance in the remaining article.
Stocks Gaining Attention After Posting Earnings Reports
10. Crane Co. (NYSE:CR)
Number of Hedge Fund Holders: 20
Shares of Crane Co. (NYSE:CR) slightly moved up in the after-hours trading session on Monday, January 24, 2022, after announcing better-than-expected financial results for the fourth quarter.
Crane Co. (NYSE:CR) reported adjusted earnings of $1.25 per share, up from 92 cents per share in the comparable period of 2020. Revenue for the quarter jumped 13 percent on a year-over-year basis to $771 million.
Analysts were expecting Crane Co. (NYSE:CR) to post adjusted earnings of $1.13 per share on revenue of $745.86. If we look at the sales performance of different segments, Aerospace & Electronics revenue rose 10 percent to $158 million, Process Flow Technologies revenue climbed 16 percent to $299 million, and Payment & Merchandising Technologies revenue jumped 11 percent to $314 million in the quarter.
Crane Co. (NYSE:CR) also released its financial outlook for 2022. The company expects adjusted earnings in the range of $7.00 – $7.40 per share on revenue of around $3.3 billion for the full year.
Speaking on the results, CEO Max Mitchell said in a statement:
“Looking to 2022, our performance momentum continues, and we are confident in the strength of our three growth platforms and our demonstrated ability to successfully deliver strong results in the current environment.”
9. Logitech International S.A. (NASDAQ:LOGI)
Number of Hedge Fund Holders: 20
Shares of Logitech International S.A. (NASDAQ:LOGI) slightly moved down in the after-hours trading session on Monday, January 24, 2022, after its third-quarter profit and sales decreased versus last year.
Logitech International S.A. (NASDAQ:LOGI) earned $1.55 per share on an adjusted basis, well below $2.45 per share in the same period of 2020. Revenue also slipped two percent on a year-over-year basis to $1.63 billion. Nevertheless, the results surpassed the consensus forecast of $1.10 per share for earnings and $1.27 billion for revenue.
If we compare the performance of different businesses, revenue from the Keyboards & Combos segment jumped 29 percent, while revenue from the Pointing Devices and Gaming segment rose eight percent on a year-over-year basis. On the downside, revenue from the Video Collaboration segment slipped two percent versus the year-ago quarter.
Looking forward, Logitech International S.A. (NASDAQ:LOGI) expects revenue growth in the range of 2 – 5 percent for its FY 2022, compared to its previous projection of flat sales growth.
Like Logitech International S.A. (NASDAQ:LOGI), Verizon Communications Inc. (NYSE:VZ), General Electric Company (NYSE:GE) and NextEra Energy, Inc. (NYSE:NEE) also came into the limelight after posting their earnings reports.
8. Halliburton Company (NYSE:HAL)
Number of Hedge Fund Holders: 29
Shares of Halliburton Company (NYSE:HAL) rose nearly four percent on Monday, January 24, 2022, after delivering impressive financial results for the fourth quarter. The oil field service company reported adjusted earnings of 36 cents per share, compared to 28 cents per share in the year-ago quarter.
Analysts were looking for earnings of 34 cents per share. In addition, Halliburton Company (NYSE:HAL) posted revenue of $4.28 billion, up 32.1 percent on a year-over-year basis and above analysts’ average estimate of $4.09 billion.
Revenue from the completion and production unit jumped 30.2 percent to $2.36 billion, while revenue from the drilling and evaluation segment climbed 34.6 percent to $1.92 billion in the quarter. Moreover, Halliburton Company (NYSE:HAL) announced a dividend of 12 cents per share for the first quarter.
7. Brown & Brown, Inc. (NYSE:BRO)
Number of Hedge Fund Holders: 31
Brown & Brown, Inc. (NYSE:BRO) is one of the leading independent insurance brokerages in the U.S. The company offers risk management services to various clients, including individuals, general businesses and government organizations.
Shares of Brown & Brown, Inc. (NYSE:BRO) climbed over 17 percent in the after-hours trading session on Monday, January 24, 2022, after posting solid profit and sales for the fourth quarter.
Brown & Brown, Inc. (NYSE:BRO) earned 42 cents per share on an adjusted basis, up 31.1 percent from the comparable period of 2020. In addition, revenue for the quarter jumped 15 percent versus last year to $738.5 million. The results exceeded analysts’ average estimate of 39 cents per share for earnings and $725.4 million for revenue.
Like Brown & Brown, Inc. (NYSE:BRO), investors are also closely watching Verizon Communications Inc. (NYSE:VZ), Raytheon Technologies Corporation (NYSE:RTX), General Electric Company (NYSE:GE) and NextEra Energy, Inc. (NYSE:NEE), after they released their financial results.
6. International Business Machines Corporation (NYSE:IBM)
Number of Hedge Fund Holders: 41
Shares of International Business Machines Corporation (NYSE:IBM) rose nearly three percent in the after-hours trading session on Monday, January 24, 2022, after beating expectations for the fourth quarter.
International Business Machines Corporation (NYSE:IBM) posted adjusted earnings of $3.35 per share, above the consensus forecast of $3.14 per share. The quarterly revenue of $16.70 billion also surpassed the expectations of $16.06 billion.
Now, let’s have a look at the performance of key business units of International Business Machines Corporation (NYSE:IBM). On a constant currency basis, Software revenue rose 10.3 percent to $7.3 billion, consulting revenue jumped 15.1 percent to $4.7 billion, and infrastructure revenue inched up 1.7 percent to $4.4 billion in the quarter. On the downside, financing revenue plummeted nearly 29 percent to $0.2 billion.
Speaking on the results, CEO Arvind Krishna said in a statement:
“We increased revenue in the fourth quarter with hybrid cloud adoption driving growth in software and consulting. Our fourth-quarter results give us confidence in our ability to deliver our objectives of sustained mid-single digit revenue growth and strong free cash flow in 2022.”
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Disclosure: None. 10 Stocks Gaining Attention After Posting Earnings Reports is originally published on Insider Monkey.
