Here is what to expect when it comes to notable earnings reporting today. We take a look at some of the hot-to-trot blue-chip names and give you our expectations on what lies ahead.
Oracle are set to report their quarterly earnings tomorrow, but the outlook is not optimistic if you believe Macquarie analyst Sarah Hindlian. She cut her rating on the stock, explaining that it was due to a less than optimum outlook in the short term as well as a reduction and eventual stop of its buyback program.
Hindlian trimmed her price target for ORCL from $56 to $55 rating its stock as Neutral from a previous rating of Outperform.
Barnes & Noble (BKS)
June has been an interesting month for US-based retail giant Barnes & Noble. Stock surged an impressive 11% earlier in the month after the retailer announced, after significant speculation, that it would be purchased by Paul Singer’s Elliott Advisors for $683 million. The deal is earmarked for closure by the end of the third quarter of 2019, pending regulatory approval.
In terms of the fourth quarter, those in the know are predicting a loss of around 22 cents per share. Sales for the fiscal year are forecasted at $3.55 billion with earnings of 6 cents per share. Elliott Advisors initially offered to value the shares at $6.50 each, but at the time of writing, stock is changing hands for $6.67- 17 cents more than the initial deal.
Looking forward, Singer is planning to bring in James Daunt- current CEO of Waterstones- to run the business and turn it around, pushing for better deals with publishers.
American Software Inc (AMSWA)
After market close tomorrow, AMSWA are expected to report on earnings for the fisca quarter ending April 2019.
Currently trading at $14.14 at the time of writing, the stock suffered a decline of 19 cents or 1.33% on the previous close. Earlier in the week it received a consensus recommendation of “buy” from 6 of the brokerages that are covering the company. One equities research analyst gave the stock a strong buy rating and another two, a hold rating. Over the last 12 months, the average 12-month price objective has been $12.03.
The company’s last quarterly earnings data was posted back in February with $0.09 EPS for the quarter, $0.04 above the consensus estimate of $0.05. The tech company reported revenue of $27 million for the time frame, just under what was predicted. It is expected that American Software will post an EPS of 0.25 for the fiscal year as a whole.