S&P 500, Nasdaq 100, DJIA All Testing Resistance We continue to see the market indexes as consolidating within broad horizontal trading ranges in 2023, and we expect the top-end of the range to be 4165-4200 on the S&P 500, with the bottom-end at the 2022 lows (3490). Another possible support level we are monitoring is at the December 2022 lows (3765). In last week's Compass (3/21) we discussed the potential for a 2-5% rally to the 1.5-month downtrend on the S&P 500, or even the 4165-4200 range,...
In this product we rank the most positive and negative domestic stocks, filter the symbols by market-cap and trading volume, and then divide the companies into sectors and groups. We then manually look through charts leadership/changes, bottoms-up/top-down ideas, short-term patterns that may have long-term significance, etc. We believe you will find this product valuable as significant price and relative moves begin in the daily charts.
LANCASTER COLONY (US), a company active in the Food Products industry, reduced its market risk and raised its general evaluation. The independent financial analyst theScreener awarded an improved star rating to the company, which now shows 1 out of 4 possible stars; its market behaviour has improved and can be considered as defensive. theScreener believes that this new assessment merits an overall rating upgrade to Slightly Positive. As of the analysis date February 15, 2022, the closing price w...
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
In this product we rank the most positive and negative domestic stocks, filter the symbols by market-cap and trading volume, and then divide the companies into sectors and groups. We then manually look through charts leadership/changes, bottoms-up/top-down ideas, short-term patterns that may have long-term significance, etc. We believe you will find this product valuable as significant price and relative moves begin in the daily charts.
Key Points: Many REITs are breaking out, suggesting the baton is once again being passed to the defensive areas of the market. Energy stocks continue to weigh on the market. A few consumer discretionary stocks are reversing price and RS downtrends or breaking to new highs. Healthcare services remains a bright spot as many issues are breaking to new price and RS highs.
Key Points: • Insurance companies and insurance brokers continue to be leadership. • Auto repair retailers and service companies continue to develop as leadership. • Facebook, Netflix and Amazon are all making negative inflections. • Home Depot and Lowes have declined through their 200-day moving averages and appear to be tops.
Yield surge tests equities; Downgrading Discretionary Bent, but not broken. That is how we would classify the state of the S&P 500. Recent market weakness has been chalked-up to the 10- and 30-year Treasury yields surging above critical resistance areas - 3.1% and 3.25%, respectively. We have highlighted rising rates numerous times in recent months as having the potential to derail the market's advance, and so far the market has done nothing but go down. However, we must keep in mind that the w...
4Q18 (June) EPS was up 14% to $1.18 (vs $1.04 last year), 10 cents ahead of our estimate due to better-than-anticipated sales (up 6% vs our expectation for a 2% increase) and a tax rate below what we modeled; For FY18, EPS was $4.93, up 7% from FY17’s record $4.62; For FY19, our EPS estimate is now $5.30 (from $5.21), due to successful new products in Retail, an improving environment for restaurants in Food Service, but with the first half of the year still expected to be impacted somewhat b...
In this product we rank the most positive and negative domestic stocks, filter the symbols by market-cap and trading volume, and then divide the companies into sectors and groups. We then manually look through charts leadership/changes, bottoms-up/top-down ideas, short-term patterns that may have long-term significance, etc. We believe you will find this product valuable as significant price and relative moves begin in the daily charts.
3Q18 (Mar) EPS was $1.00 (vs $0.95 last year), in-line with our estimate (but 5 cents under consensus); For FY18, our EPS estimate is now $4.83 (from $4.91), up 5% from FY17, impacted by continued headwinds from higher food input and freight costs; For FY19, our EPS estimate is now $5.21 (from $5.32), up 8% from our FY18 projection, assuming new management’s growth/cost savings initiatives are successful and depending on the direction of food input costs.
New CEO Dave Ciesinski is focusing on accelerating growth and driving the gross margin up to 30% (vs an estimated 25% in FY18) through supply chain and other initiatives which, if successful, could add over $1.30 to EPS. The shares are 17% off from their January 2017 high despite continued record results. Lancaster’s operating margins are among the highest in the food group category; we project the operating margin at 14.4% for FY18 and 15.3% for FY19. Dividends, compounding at ...
2Q18 (Dec) EPS was $1.67 (vs $1.42 last year), 35 cents above our estimate due to $14.5 million in tax benefits from the new U.S. tax law, but otherwise would have been 18 cents below our estimate; For FY18, our EPS estimate is now $4.91 (from $5.09), up 6% from FY17 benefitting from lower taxes but with operating income off 10% due to supply chain issues with a partner facility, higher freight and food input costs; For FY19, our EPS estimate is now $5.32 (from $6.05), up 8% from our FY18 pr...
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