While next week will not resemble this week’s and last week’s torrent of earnings reports, there are still a number of significant companyies reporting on Friday. The following report will take a look at five of these companies as they reveal the results of their last quarters.
Franklin Resources Inc. (BEN)
Franklin Resources, Inc. (NYSE:BEN) is a publicly owned asset management holding company. The firm provides its services to individuals, institutions, pension plans, trusts, and partnerships. It manages, through its subsidiary, separate client-focused equity, fixed income, and balanced portfolios.
In his 2021 year-end letter, Baupost's Seth Klarman looked at the year in review and how COVID-19 swept through every part of our lives. He blamed much of the ills of the pandemic on those who choose not to get vaccinated while also expressing a dislike for the social division COVID-19 has caused. Q4 2021 Read More
Franklin Resources is presently trading down nearly 1% from the opening bell and the stock has not seen a third of its 52-week high in quite some time.
The consensus analyst estimate has fallen in the last 3o days with the consensus estimate expecting to see earnings of $0.86 compared to year-over-year earnings of $2.12. Earnings for the year compared to the year prior are equally dire with calls for this fiscal year to see earnings of $3.42 compared to $8.95.
Revenue for the quarter is expected to reach $2.06 billion up over 15% to the corresponding quarter when sales came in at $1.78 billion. For the fiscal year, analysts are expecting sales of $8.08 billion up over 13% from the fiscal prior when sales came in at $7.1 billion.
Hertz Global Holdings, Inc. (HTZ)
Hertz Global Holdings, Inc. (NYSE:HTZ), through its subsidiaries, engages in the car and equipment rental business worldwide. The company operates in two segments, Car Rental and Equipment Rental.
Analysts are presently quite optimistic about Hertz and Avis. The key reason for bullishness, however, lies in the new landscape for these businesses. The mergers – Hertz and Dollar/Thrifty announced almost a year ago, and the Avis/Zipcar deal announced in January – dwarf the competition below and give each more fighting power against Enterprise Holdings.
Analysts are expecting Hertz to announce earnings of $0.45 per share versus the year-over-year quarter when earnings were $0.35. For the fiscal year, the consensus estimate is for earnings to reach $1.90 versus earnings of $1.33 the year prior.
Revenue is expected to come in at $2.70 billion versus the year-over-year quarter where sales came in at $2.23 billion which represents a positive change of 21.5%. For the fiscal year revenue is expected to be a whopping $10.9 billion up over 20% from the fiscal prior when sales of $9.02 billion were reported.
Loews Corporation (L)
Loews Corporation (NYSE:L) operates primarily as a commercial property and casualty insurance company. The company operates in four segments: CNA Specialty, CNA Commercial, Life & Group Non-Core, and Other.
The consensus estimate is calling earnings of $0.73 per share reflecting a rise from 0.47 per share a year-over-year. This is down from expectations of $0.82 per share ninety days ago. For the fiscal year, analysts are expecting earnings of $3.17 per share compared to earnings of $1.97 the year prior.
Revenue rose for the past two quarters in a row. In the most recent quarter, revenue rose 10% year-over-year to $3.73 billion. The quarter before that, it rose 6%. For the fiscal year, revenue is expected to be down considerably for the year prior with the consensus calling for $11.7 billion compared to $14.55 the year prior.
Simon Property Group (SPG)
Simon Property Group, Inc (NYSE:SPG) is an independent equity real estate investment trust. It engages in investment, ownership, and management of properties. The firm invests in the real estate markets across the globe. It primarily invests in regional malls, Premium Outlets, The Mills, community/lifestyle centers and international properties to create its portfolio. High-end malls and malls in Latin America have been driving Simon’s recent success.
The consensus is calling for earnings this quarter of $2.07 compared to year-over-year earnings of $1.89. For the fiscal year, The Street is looking for earnings of $8.67 per share compared to the year prior when earnings were $7.98 per share.
Revenue for the quarter is expected to reach $1.24 billion up 4% from $1.19 year-over-year. For the year, analysts expect sales to reach $5.12 billion up nearly 5% from sales of $4.88 the fiscal year prior.
Wynn Resorts Ltd. (WYNN)
Wynn Resorts, Limited (NASDAQ:WYNN), together with its subsidiaries, engages in the development, ownership, and operation of destination casino resorts. The company owns and operates two casino resort complexes in Las Vegas, the Wynn Las Vegas and Encore at Wynn Las Vegas. The company also operates Wynn Macau casino resort and Encore at Wynn Macau resort located in the People?s Republic of China (Macau).
The success of Wynn’s properties in Macau are outshining Sin City by a comfortable margin and Wynn is hoping to see a repeat from when Sands reported earlier this week.
The consensus is calling for earnings of $1.57 for the quarter compared to year-over-year earnings of $1.38 per share. For the fiscal year, expect to see earnings of $6.66 compared to $5.36 per share a year ago.