5 Stocks in The Limelight After Quarterly Reports

In this article, we discuss the 5 stocks in the limelight after quarterly reports. If you want to read our detailed analysis of these companies, go directly to the 10 Stocks in The Limelight After Quarterly Reports.

5. Abercrombie & Fitch Co. (NYSE:ANF)

Number of Hedge Fund Holders: 31

Shares of Abercrombie & Fitch Co. (NYSE:ANF) fell more than 10 percent in the pre-market trading session on Tuesday, 23 November 2021, despite announcing better-than-expected financial results for the third quarter.

The Ohio-based lifestyle retailer reported adjusted earnings of 86 cents per share, up from 76 cents per share in the year-ago quarter. Revenue came in at $905.2 million versus $819.7 million in the comparable period of 2020.

Digital sales in the quarter rose eight percent versus last year to $413 million. Analysts were expecting Abercrombie & Fitch Co. (NYSE:ANF) to report earnings of 66 cents per share on total revenue of $895 million.

Speaking on the results, CEO Fran Horowitz said in a statement:

“The start of the holiday season has been promising. Customers have come out early to shop and have been responding well to assortments. We continue to actively manage through ongoing supply chain constraints, including production and delivery delays and elevated costs, and are confident that we have the product, marketing voice and omnichannel experience to surprise and delight new and existing customers throughout the fourth quarter.”

4. DICK’S Sporting Goods, Inc. (NYSE:DKS)

Number of Hedge Fund Holders: 31

DICK’S Sporting Goods, Inc. (NYSE:DKS) delivered solid profit and sales for the third quarter along with an upbeat outlook on Tuesday, 23 November 2021. The sporting goods retailer earned $3.19 per share on an adjusted basis, crushing the consensus forecast of $2.06 per share.

In addition, the quarterly revenue of $2.75 billion easily surpassed the expectations of $2.51 billion. Moreover, the same-store sales growth of 12.2 percent was also way better than the consensus forecast of 3.5 percent growth. DICK’S Sporting Goods, Inc. (NYSE:DKS) had posted adjusted earnings of $2.01 per share on revenue of $2.41 billion for the comparable period of 2020.

Looking forward, DICK’S Sporting Goods, Inc. (NYSE:DKS) expects adjusted earnings in the range of $14.60 – $14.80 per share and revenue between $12.12 – $12.19 billion for the full year.

CEO Lauren Hobart expressed her satisfaction with the results, saying:

“We are extremely pleased to announce a record third quarter in which we delivered significant sales and earnings growth over both last year and 2019. Consumer demand remained strong, and our differentiated product assortment continued to drive exceptional sales and merchandise margin momentum.”

3. Agilent Technologies, Inc. (NYSE:A)

Number of Hedge Fund Holders: 46

Shares of Agilent Technologies, Inc. (NYSE:A) slipped over five percent in the pre-market trading session on Tuesday, 23 November 2021, even though the laboratory instruments maker posted its fiscal fourth-quarter results above expectations.

Agilent Technologies, Inc. (NYSE:A) reported adjusted earnings of $1.21 per share, up from 98 cents per share in the comparable period of 2020. Analysts were looking for earnings of $1.04 per share.

Revenue for the quarter increased 12 percent on a year-over-year basis to $1.66 billion, beating the consensus forecast of $1.47 billion. If we look at the performance of its flagship businesses, revenue from the life sciences and applied markets group rose 11 percent on a year-over-year basis to $747 million.

In comparison, revenue from the CrossLab group increased 10 percent to $572 million, while revenue from the diagnostics and genomics group climbed 16 percent to $341 million in the quarter.

Agilent Technologies, Inc. (NYSE:A) also released the financial outlook for its fiscal first quarter. The company expects adjusted earnings in the range of $1.16 – $1.18 per share and revenue between $1.64 – $1.66 billion for the current quarter.

2. Zoom Video Communications, Inc. (NASDAQ:ZM)

Number of Hedge Fund Holders: 56

Shares of Zoom Video Communications, Inc. (NASDAQ:ZM) fell to their lowest level in nearly 18 months after announcing the financial results for its fiscal third quarter on Monday, 22 November 2021. The communications technology company reported adjusted earnings of $1.11 per share, up from 99 cents per share in the year-ago quarter.

In addition, Zoom Video Communications, Inc. (NASDAQ:ZM) posted revenue of $1.05 billion, up 35 percent versus the comparable period of 2020. The results surpassed the consensus forecast of $1.09 per share for earnings and $1.02 billion for revenue.

Looking forward, Zoom Video Communications, Inc. (NASDAQ:ZM) expects adjusted earnings in the range of $1.06 – $1.07 per share and revenue between $1.051 – $1.053 billion for its fiscal fourth quarter.

1. Analog Devices, Inc. (NASDAQ:ADI)

Number of Hedge Fund Holders: 74

Shares of Analog Devices, Inc. (NASDAQ:ADI) were seen trading nearly flat in the morning trading session on Tuesday, 23 November 2021, despite releasing solid profit and sales for its fiscal fourth quarter.

The Massachusetts-based semiconductor company reported adjusted earnings of $1.73 per share, up from $1.44 per share in the year-ago quarter. Revenue for the quarter climbed 53 percent on a year-over-year basis to $2.34 billion. Analysts were expecting Analog Devices, Inc. (NASDAQ:ADI) to post earnings of $1.70 per share on revenue of $2.25 billion.

Analog Devices, Inc. (NASDAQ:ADI) also released the financial outlook for its fiscal first quarter. It expects adjusted earnings in the range of $1.68 – $1.88 per share and revenue between $2.5 billion – $2.7 billion for the current quarter.

CEO Vincent Roche expressed his pleasure with the latest quarterly performance. Roche said in a statement:

“ADI delivered another quarter of record revenue and profits, marking a strong end to the fiscal year. Our Industrial and Automotive markets reached all-time highs and our Consumer business returned to solid growth in fiscal 2021. As we enter fiscal 2022, our backlog and bookings remain robust, and we continue to invest in capacity, setting us up for continued growth in the years ahead.”

You can also take a peek at Martin Taylor’s Crake Asset Management Portfolio: Top 10 Stock Picks and Top 10 Stock Picks of Brandon Osten’s Venator Capital Management.

Follow Insider Monkey on Twitter