Investment Analysts’ updated eps estimates for Friday, November 25th:
Aecom Technology Corp. (NYSE:ACM) had its hold rating reaffirmed by analysts at DA Davidson. The firm currently has a $40.00 target price on the stock.
Analog Devices (NASDAQ:ADI) had its outperform rating reaffirmed by analysts at RBC Capital Markets. They currently have a $75.00 price target on the stock.
Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) had its buy rating reiterated by analysts at Credit Suisse Group AG. They currently have a $69.00 price target on the stock.
American Express (NYSE:AXP) was downgraded by analysts at Zacks Investment Research from a buy rating to a hold rating. According to Zacks, “American Express is set to grow over the long term from a secular shift toward digital payment methods. Its improved credit profile, impressive business initiatives, and investment in digital channels are expected to boost returns. The company’s cost-reduction initiative should drive efficiency and bottom-line growth. American Express, however, faces headwinds from high loan loss provisions, stiff competition, a strong U.S. dollar and loss of Costco as a client. The company’s third-quarter earnings 2016 per share outpaced the Zacks Consensus Estimate but remained flat year over year. Nevertheless, continued favorable trends in credit and operating expense performance, offset partially by increases in marketing, promotion and rewards, allowed the company to raise its full year 2016 EPS guidance in the range of $5.90 to $6.00. Also, it affirmed 2017 EPS guidance of $5.60.”
Cousins Properties (NYSE:CUZ) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “Cousins Properties is facing a pressure on top line growth. In fact, during the third quarter, rental property revenues were down 3.5% year over year. Although funds from operations (FFO) per share was in line with expectations in the quarter, the figure was 8.3% below the year ago period tally. Notably, in October, the company closed the merger with Parkway Properties and spun-off the Houston-based assets of the combined company into a publicly-traded REIT. This move is a strategic fit as it allowed the company to not only boost its portfolio with premium properties, but also exit the Houston office market crippled by the decline in oil prices. But, in addition to the top line pressure, hike in interest rate remain its concern. Also, tough competition in the industry affects its ability to attract and retain tenants at relatively higher rents than its competitors.”
Darden Restaurants (NYSE:DRI) was downgraded by analysts at Zacks Investment Research from a buy rating to a hold rating. According to Zacks, “Most of Darden’s brands have been witnessing growth over the past few quarters on the back of sales initiatives like simplifying kitchen systems, improving in-restaurant execution to enhance guest experience menu innovation and technology-driven moves. Moreover, the company’s Olive Garden Brand Renaissance plan – aimed to turn around its business – has started reaping benefits. Also, the company’s efforts to check costs are commendable. Backed by these positives, Darden’s first-quarter fiscal 2017 earnings beat the Zacks Consensus Estimate for the eighth consecutive quarter. The company also raised its guidance for fiscal 2017 earnings. Meanwhile, initiatives undertaken to attract guests at LongHorn and other units also bode well. However, rising labor costs and a non-franchised business model might dampen the company’s profits, while a soft consumer spending environment could keep comps under pressure.”
Descartes Systems Group (TSE:DSG) (NASDAQ:DSGX) had its outperform rating reissued by analysts at Scotiabank. They currently have a C$23.00 price target on the stock.
Inovalis Real Estate Investment Trust (TSE:INO.UN) had its outperform rating reaffirmed by analysts at BMO Capital Markets. BMO Capital Markets currently has a C$10.50 target price on the stock.
Ivanhoe Mines (TSE:IVN) had its speculative buy rating reissued by analysts at Canaccord Genuity. They currently have a C$3.50 target price on the stock.
KeyCorp (NYSE:KEY) was downgraded by analysts at Zacks Investment Research from a buy rating to a hold rating. According to Zacks, “KeyCorp shares have outperformed the Zacks categorized Major Regional Banks industry over the last six months. Its persistent growth in loans and deposits are expected to aid top-line growth. Moreover, management expects the First Niagara deal to result in earnings accretion of approximately 5% in 2017. Further, the company’s consistent efforts to streamlining operations and diversifying products are likely to keep the overall expense stable in the near term. However, persistent pressure on net interest margin owing to low interest rate environment continue to be a major near-term concern. In addition, exposure to risky loans and heightened regulatory restrictions make us apprehensive about its future prospects.”
MasterCard (NYSE:MA) was downgraded by analysts at Zacks Investment Research from a buy rating to a hold rating. According to Zacks, “MasterCard shares have outperformed Zacks categorized Financial Transaction Services industry over the last three months. The company remains well positioned for growth given its expansion & digital initiatives. Also, gradual shift to electronic payments from paper-based forms should drive revenue growth. The company’s third-quarter 2016 earnings per share beat the Zacks Consensus Estimate. MasterCard’s product-diversification initiatives augur well for the long term. The proposed acquisition of major stake in VocaLink will strengthen its electronic payment capabilities. Increased cross-border volumes, improved pricing, growth of processed transactions and a vast global business continue to drive growth. However, the company is challenged with soft investment results, escalating costs, a challenging forex environment as well as litigations.”
MutualFirst Financial (NASDAQ:MFSF) had its sell rating reaffirmed by analysts at DA Davidson. DA Davidson currently has a $24.00 price target on the stock. The analysts wrote, “We expect the bulk of these benefits to come into play during the second half of 2017.””
Prologis (NYSE:PLD) was downgraded by analysts at Zacks Investment Research from a buy rating to a hold rating. According to Zacks, “Prologis’ funds from operations (FFO) per share estimates for the current quarter and full-year 2016 have been stable for the past seven days. Amid a consistent shift toward e-commerce and supply chain strategy transformations, the company is well poised to benefit from its capacity to offer modern distribution facilities in strategic infill locations. In fact, the company’s occupancy and leasing volumes remained high in third-quarter 2016. It witnessed broad-based demand across customer segments, driven by e-commerce, automotive, consumer products and construction supplies. Also, Prologis remains focused on bolstering its liquidity, which is encouraging. Nevertheless, rising number of new facilities, competitive landscape and any further hike in interest rates are the company’s chief concerns.”
Pool Corp. (NASDAQ:POOL) was downgraded by analysts at Zacks Investment Research from a buy rating to a hold rating. According to Zacks, “For Pool Corp., third-quarter 2016 marked the company’s 26th consecutive quarter of year-over-year growth in sales, gross profit and operating earnings. Notably, the company should continue to benefit in the near term from base business sales growth and favorable trends in the housing market. Moreover, continually strong growth in the pool renovation category along with reasonable improvement in green segment sales (the Horizon segment), is a major positive. Further, stronger consumer discretionary spending along with a tight supply situation, point to consistently robust demand for the rest of 2016 and 2017. The company’s leading market share position and opportunistic expansion strategies position it well for revenue growth. However, seasonality of the company’s business and macroeconomic headwinds remain causes of concern.”
Prothena Corp. (NASDAQ:PRTA) was downgraded by analysts at Zacks Investment Research from a buy rating to a hold rating. According to Zacks, “Prothena’s third-quarter results were disappointing with the company posting a wider-than-expected loss. Nevertheless, its license agreement with Roche for the development and commercialization of selected antibodies targeting alpha-synuclein is a big positive. The collaboration boosts the company’s pipeline development and provides it with funds in the form of research reimbursement and milestone payments. We are encouraged by the company’s efforts in developing its lead candidate, NEOD001, being evaluated for the treatment of amyloid light-chain amyloidosis However, the company depends on its only late-stage pipeline candidate, NEOD001 for growth. Any unfavorable outcome related to the candidate would adversely impact the company. Moreover, Prothena has a limited number of candidates in the pipeline, with most of them several years from commercialization.”
EchoStar Corp. (NASDAQ:SATS) had its positive rating reiterated by analysts at Macquarie.
Smith & Wesson Holding Corp. (NASDAQ:SWHC) had its neutral rating reiterated by analysts at Wedbush. They currently have a $25.00 target price on the stock, down from their previous target price of $32.00.
Synthetic Biologics (NYSEMKT:SYN) was downgraded by analysts at Laurentian Bank of Canada from a buy rating to a speculative buy rating.