In this article, we will take a look at the 10 stocks making big moves after releasing their financial results. You can skip our detailed analysis of these companies and go directly to the 5 Stocks Making Big Moves After Releasing Their Financial Results.
The fourth-quarter earnings season is winding down. Henry Schein, Inc. (NASDAQ:HSIC), Ecolab Inc. (NYSE:ECL), Marriott International, Inc. (NASDAQ:MAR), Huntsman Corporation (NYSE:HUN) and Fidelity National Information Services, Inc. (NYSE:FIS) were among the notable stocks that recently released their earnings reports.
Shares of Marriott International, Huntsman Corp and Henry Schein jumped to an all-time high following their impressive financial performance. On the other hand, shares of Fidelity National Information Services and Ecolab lost substantial value on weak quarterly results.
Several other companies, including automotive supplier BorgWarner Inc. (NYSE:BWA) and energy company Continental Resources, Inc. (NYSE:CLR), also posted their financial results for the fourth quarter recently.
Stocks Making Big Moves After Releasing Their Financial Results
10. TriNet Group, Inc. (NYSE:TNET)
Number of Hedge Fund Holders: 19
Shares of TriNet Group, Inc. (NYSE:TNET) closed higher on Tuesday, February 15, 2022, after announcing better-than-expected financial results for the fourth quarter. The provider of HR and consultancy services reported adjusted earnings of $1.13 per share, significantly higher than 44 cents per share for the same quarter one year ago. Earnings were also well above the consensus forecast of 54 cents per share.
In addition, TriNet Group, Inc. (NYSE:TNET) posted revenue of $1.2 billion, up 16 percent on a year-over-year basis. Moreover, the adjusted revenue of $293 million topped analysts’ average estimate of $244.1 million.
TriNet Group, Inc. (NYSE:TNET) also released its earnings outlook for the first quarter and full year. It expects adjusted earnings in the range of $1.89 – $2.22 per share for the current quarter and between $4.55 – $5.20 per share for 2022.
Speaking on the results, CEO Burton Goldfield said in a statement:
“As we look forward to 2022, we are excited to expand our product offering and our addressable market through our pending acquisition of Zenefits. TriNet will now be able to offer complementary PEO and HCM software products to better serve our customers throughout their lifecycle.”
9. BorgWarner Inc. (NYSE:BWA)
Number of Hedge Fund Holders: 21
Shares of BorgWarner Inc. (NYSE:BWA) rose nearly six percent on Tuesday, February 15, 2022, after posting its fourth-quarter profit and sales above expectations. The Michigan-based automotive supplier earned $1.06 per share on an adjusted basis, topping analysts’ average estimate of 76 cents per share.
Revenue for the quarter slipped nearly seven percent versus last year to $3.66 billion amid weak industry production. However, it was still better than the consensus forecast of $3.49 billion.
Looking forward, BorgWarner Inc. (NYSE:BWA) expects adjusted earnings in the range of $4.15 – $4.60 per share for 2022. In addition, the company expects to generate revenue between $15.9 – $16.5 billion for the current fiscal year, implying an organic growth of 10 – 14 percent versus 2021.
Like BorgWarner Inc. (NYSE:BWA), analysts are also closely watching Marriott International, Inc. (NASDAQ:MAR), Huntsman Corporation (NYSE:HUN) and Fidelity National Information Services, Inc. (NYSE:FIS), following their earnings reports.
8. Restaurant Brands International Inc. (NYSE:QSR)
Number of Hedge Fund Holders: 22
Shares of Restaurant Brands International Inc. (NYSE:QSR) recently rose to a more than one-month high following its upbeat financial performance for the fourth quarter. The price hikes across its brands helped the fast-food holding company in topping expectations.
Restaurant Brands International Inc. (NYSE:QSR) reported adjusted earnings of 70 cents per share on revenue of $1.55 billion. Analysts were looking for earnings of 70 cents per share on revenue of $1.5 billion.
Restaurant Brands International Inc. (NYSE:QSR) also released its segment-wise sales performance. Same-store sales at Burger King jumped 11.3 percent, beating estimates of 10 percent. In comparison, Tim Hortons’ same-store sales rose 10.3 percent, slightly below expectations of 10.6 percent.
Discussing the results, CEO José Cil said in a statement:
“Two areas of particular strength across our business have been in digital sales and restaurant growth. Our digital investments have been embraced by our guests, with global digital sales reaching $10 billion in 2021, up from $6 billion in 2020 and now representing about 30% of our global system-wide sales.”
7. Medpace Holdings, Inc. (NASDAQ:MEDP)
Number of Hedge Fund Holders: 23
Shares of Medpace Holdings, Inc. (NASDAQ:MEDP) took a deep dive on Tuesday, February 15, 2022, hitting a one-year low after missing revenue expectations for the fourth quarter.
Medpace Holdings, Inc. (NASDAQ:MEDP) posted revenue of $308.6 million for the quarter, up 18.8 percent versus the comparable period of 2020 but below the consensus forecast of $309.04 million. On the bright side, earnings of $1.32 per share surpassed analysts’ average estimate of $1.25 per share.
Medpace Holdings, Inc. (NASDAQ:MEDP) also updated its financial outlook for 2022. It expects earnings in the range of $5.35 – $5.67 per share and revenue between $1.40 – $1.46 billion for the current year.
Like Medpace Holdings, Inc. (NASDAQ:MEDP), Marriott International, Inc. (NASDAQ:MAR), Huntsman Corporation (NYSE:HUN) and Fidelity National Information Services, Inc. (NYSE:FIS) also came into the spotlight following their fourth-quarter results.
6. Continental Resources, Inc. (NYSE:CLR)
Number of Hedge Fund Holders: 24
Continental Resources, Inc. (NYSE:CLR) recently announced better-than-expected financial results for the fourth quarter. However, the company’s higher spending and weak production outlook for 2022 sent its shares down more than five percent on Tuesday, February 15.
Oklahoma-based Continental Resources, Inc. (NYSE:CLR) expects to spend about $2.3 billion in the current fiscal year, mainly due to expensive labor and rising material costs. The projection is well above the consensus forecast of $1.56 billion. In addition, the company guided for production of 195,000 – 205,000 barrels of oil per day for 2022, below expectations of 206,000.
For the fourth quarter, Continental Resources, Inc. (NYSE:CLR) reported adjusted earnings of $1.79 per share on revenue of $1.927 billion. The results exceeded the consensus forecast of $1.69 per share for earnings and $1.710 billion for revenue.
Speaking on the results, CEO Bill Berry said in a statement:
“In 2021, Continental achieved a record level of annual adjusted earnings per share alongside a nearly 15% return on capital employed and a Company record $2.6 billion of free cash flow. Given operational excellence across our premier asset portfolio, we will continue to strongly compete by expanding return of capital to shareholders while providing above average S&P 500 and industry return on capital employed through 2022 and beyond.”
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Disclosure: None. 10 Stocks Making Big Moves After Releasing Their Financial Results is originally published on Insider Monkey
