Upcoming Earnings Reports to Watch: CRM, AVGO, ULTA, HPE
Q2 earnings season is finally wrapping up, and for the most part, results have been strong across the board. In fact, we’ve seen broad-based growth reaching the double digit level for the second quarter in a row, an abundance of earnings surprises, and favorable trends on the revisions front.
At this point, well over 90% of the S&P 500 members have reported their latest results, but there are still several marquee reports to anticipate. Indeed, the upcoming week will include a handful of market favorites and bellwether brands, meaning that investors will need to be paying attention.
With that said, investors can always use the Zacks Earnings Calendar to plan out their schedules for earnings, dividend announcements, and other important financial releases. This handy tool is your perfect one-stop-shop to properly prepare for the market events that will have an impact on your own portfolio.
And today, we’ve made that task even easier for you. Using the Earnings Calendar, we looked ahead to next week—one of the last busy weeks of the earnings season—and selected the biggest reports to watch. Make sure to keep an eye on these companies as they prepare to report during the week of August 21:
· Salesforce.com (CRM) – August 22 – After Market Close
Salesforce, a cloud computing giant and global leader in customer relations solutions, is set to report its second-quarter fiscal 2018 results after the closing bell on August 22. While currency fluctuations and stepped-up investments might prove to be challenges, Salesforce remains a dominant industry force with diverse cloud offerings and strong client satisfaction.
Heading into its report, Salesforce currently sits at a Zacks Rank #3 (Hold). With an Earnings ESP of 0.00%, surprise prediction is difficult; however, the stock does sport an “A” grade for growth, and investors should be pleased with the company’s year-over-year comparisons this quarter. According to our current consensus estimates, Salesforce is expected to report EPS growth of 18.3% and sales growth of 23.5% for its latest fiscal period.
· HP Inc. (HPQ) – August 23 – After Market Close
A result of the 2015 split of Hewlett-Packard Company into two publicly traded entities, HP Inc. is focused on the brand’s PC and printing products and services. The company is scheduled to post its third-quarter 2017 earnings after the market closes on August 23. While the glory days of the PC are long gone, HP’s restructuring initiatives are finally starting to pay off, and its stock has been steadily rising all year.
As we approach HP’s report date, the stock is currently sporting a Zacks Rank #2 (Buy). While its Earnings ESP is at 0.00%, the company does have an “A” grade for Value, which is a bit of a rarity in today’s tech world. HP has also been able to post five-straight quarters of shipment growth, and if it can continue that momentum, it could be another solid report from the legacy PC brand.
· Ulta Beauty (ULTA) – August 24 – After Market Close
Ulta, the nation’s largest beauty retailer, will release its second-quarter earnings results after the closing bell on August 24. A long-time beacon of hope in the struggling retail industry, Ulta has slumped significantly since its last report. Still, the company has a strong earnings surprise track record and holds exciting growth prospects.
However, with a Zacks Rank #4 (Sell) and an Earnings ESP of -1.69%, it’s clear that analyst sentiment is not strong heading into the report. Current consensus estimates are calling for EPS growth of 24.2% and sales growth of 20.4% this quarter, and investors should keep their eye on the company’s online and same-store sales figures after the results are in.
· Broadcom Limited (AVGO) – August 24 – After Market Close
Broadcom, a key supplier for Apple AAPL, will report its third-quarter 2017 results after the market closes on August 24. Despite rumors of an iPhone 8 delay, this semiconductor maker has soared more than 43% year-to-date and is looking to add to its streak of 12-straight earnings beats.
Broadcom is currently a Zacks Rank #2 (Buy) and sports an “A” grade for Growth. Our current consensus estimates are calling for EPS growth of 41.2% and sales growth of 32.6% this quarter, and it will be interesting to note if the company reveals any additional info about the production schedule for the upcoming iPhone.
Of course, these are just a few of the nearly two-hundred companies that are expected to report next week. However, these major announcements should provide investors with a better sense of how earnings season is wrapping up across the board. Make sure to check back here for our full coverage and commentary as the results start to come in!
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