Wall Street has reached a notable lull in the pace of quarterly releases. Still, investors are eagerly anticipating important announcements from FedEx (NYSE:FDX) and a set of prominent consumer brands, such as Nike (NYSE:NKE), Lululemon Athletica (NASDAQ:LULU) and Chewy (NYSE:CHWY), which could provide insights into consumer sentiment and spending trends.
Technology companies are also in focus, with earnings results expected from Micron Technology (NASDAQ:MU), Accenture (NYSE:ACN), Nano Dimension (NNDM) and JinkoSolar Holding (JKS). Furthermore, the week will also feature earnings results from XPeng (XPEV), General Mills (GIS), PDD Holdings (PDD), SNDL (SNDL), StoneCo (STNE), BioNTech SE (BNTX), Darden Restaurants (DRI), HUYA (HUYA) and Baozun (BZUN).
Below is a rundown of major quarterly updates anticipated in the week of Match 18 to 22:
Monday, March 18
StoneCo (STNE)
StoneCo (STNE), a provider of financial technology and software solutions, is scheduled to report its Q4 earnings after Monday’s market close.
The stock, which has surged nearly 91% over the past year, is favorably viewed by market participants, receiving a Strong Buy rating from Seeking Alpha’s Quant Rating system and a consensus Buy recommendation from sell-side analysts.
According to SA author PropNotes, “With strong revenue growth and improved financial results, StoneCo is reasonably valued at 18x net income. A strong earnings report could potentially trigger further stock price expansion.”
- Consensus EPS Estimates: $0.30
- Consensus Revenue Estimates: $685.01M
- Earnings Insight: STNE has exceeded EPS in 6 of the past 8 quarters and revenue in 5 of those reports.
Also reporting: Science Applications International Corporation (SAIC), Niu Technologies (NIU), DLocal Limited (DLO), FreightCar America (RAIL), Comtech Telecommunications (CMTL), Alpine Immune Sciences (ALPN), Bit Digital (BTBT), Eyenovia (EYEN), National CineMedia (NCMI), JOYY (YY), FinVolution Group (FINV), Zepp Health Corporation (ZEPP) and more.
Tuesday, March 19
XPeng (XPEV)
XPeng (XPEV) is set to report its Q4 financial data on Tuesday, before the bell. The Chinese EV manufacturer’s stock has declined approximately 36% so far this year, partly due to the impact of the timing of the Chinese New Year on the company’s monthly delivery numbers.
Despite this, Seeking Alpha’s Quant Rating system upgraded the stock to Hold from a prior Sell rating in the last week of February, while Wall Street analysts maintain a Buy rating.
According to SA author Dair Sansyzbayev, “XPEV’s stock price has dropped 48% since October 2023, making its valuation more a However, business model viability is a concern due to opposite revenue and EPS movements. Q4 2023 deliveries may lead to a potential revenue beat, but cautious guidance is expected due to decelerating deliveries in early 2024.”
- Consensus EPS Estimates: -$0.42
- Consensus Revenue Estimates: $1.75B
- Earnings Insight: Xpeng has beaten EPS and revenue estimates in 3 of the past 8 earnings reports.
Also reporting: Smith Douglas Homes (SDHC), Bridger Aerospace Group Holdings (BAER), ZKH Group Limited (ZKH), Moatable (MTBL), HUYA (HUYA), Tencent Music Entertainment Group (TME), Precigen (PGEN), HealthEquity (HQY), Oragenics (OGEN), ZTO Express (Cayman) (ZTO), Cyclacel Pharmaceuticals (CYCC), Corvus Pharmaceuticals (CRVS) and more.
Wednesday, March 20
Micron Technology (MU)
Micron Technology (MU) is scheduled to release its quarterly earnings after Wednesday’s closing bell.
Recently, Stifel upgraded the memory chipmaker to Buy from Hold, with analyst Brian Chin raising the price target to $120 from $80. Chin believes tightening conditions in the dynamic random access memory supply will allow Micron to optimize its product mix, including DDR5/LPDDR5, high-capacity DIMMs, and HBM, and augment cyclical recovery in gross margins.
Micron is also seen as going through a “sweet spot” for memory, according to Stifel, which should drive multiple expansions due to its increased connection to artificial intelligence via high-bandwidth memory.
Meanwhile, the stock continues to receive a Hold rating from Seeking Alpha’s Quant Rating system, as opposed to a Buy recommendation from Wall Street analysts.
“Micron Technology is poised to capitalize on AI adoption and the growing AI server retooling market through its partnership with Nvidia to sell HBM3e memory for AI GPUs, with a focus on innovation in AI DRAM utilization,” writes SA author Noah’s Arc Capital Management.
- Consensus EPS Estimates: -$0.26
- Consensus Revenue Estimates: $5.34B
- Earnings Insight: Micron has beaten EPS expectations in 6 of the past 8 quarters and has beaten revenue estimates in half of those reports.
Also reporting: General Mills (GIS), BioNTech SE (BNTX), PDD Holdings (PDD), Chewy (CHWY), Ideanomics (IDEX), JinkoSolar Holding (JKS), KB Home (KBH), Five Below (FIVE), Signet Jewelers Limited (SIG), UP Fintech Holding Limited (TIGR), CuriosityStream (CURI), Ollie’s Bargain Outlet Holdings (OLLI), Top Ships (TOPS), Avinger (AVGR), Bakkt Holdings (BKKT), Avino Silver & Gold Mines (ASM), WM Technology (MAPS), Mogo (MOGO), Kingsoft Cloud Holdings Limited (KC), Guess?(GES), and more.
Thursday, March 21
FedEx (FDX)
FedEx (FDX), headquartered in Memphis and a major player in package delivery services, is set to announce its quarterly earnings after Tuesday’s closing bell. Despite a strong performance, with a gain of over 29% over a period of 12 months, the company receives a Hold rating from SA’s Quant Ratings, contrasting with the consensus Buy rating maintained by Wall Street analysts.
SA investing group leader Leo Nelissen points out that while FedEx faces intense competition from Amazon, its analyst expectations and cost-saving strategies suggest potential growth. However, Nelissen advises caution for investors due to FedEx’s diversification efforts and technological advancements in the ever-evolving e-commerce landscape.
In contrast, Stock Waves, another SA investing group leader, takes a more bearish stance, noting that FedEx’s price structure indicates a potential downside pattern in the future. However, Stock Waves cautions that this assumption could be flawed, considering the methodology used to track and project stocks like FedEx.
- Consensus EPS Estimates: $3.51
- Consensus Revenue Estimates: $22.09B
- Earnings Insight: FedEx has beaten EPS estimates in 4 of the past 8 quarters, rising above revenue expectations in only one of those reports.
Nike (NKE)
Nike (NKE) is scheduled to report its quarterly results on Thursday after the closing bell.
Following a mixed performance in its prior quarter, Nike CFO Matthew Friend characterized the company’s financial results as a turning point toward driving more profitable growth. Looking ahead to a softer second-half revenue outlook, Nike remains committed to strong gross margin execution and disciplined cost management.
The stock has a Hold rating from Seeking Alpha’s Quant Rating system, reflecting a more cautious stance compared to the consensus Buy rating from Wall Street analysts.
SA author Wiebe De Ruyck notes that NKE’s valuation remains at a premium, potentially exposing it to downside risk if market confidence in its growth prospects wanes.
- Consensus EPS Estimates: $0.76
- Consensus Revenue Estimates: $12.29B
- Earnings Insight: The company has beaten EPS estimates 7 times in the past 8 quarters and revenue expectations in 6 of those reports.
Also reporting: Lululemon Athletica (LULU), SNDL (SNDL), Nano Dimension (NNDM), Accenture (ACN), Baozun (BZUN), Darden Restaurants (DRI), Winnebago Industries (WGO), BIOLASE (BIOL), Cellectis S.A. (CLLS), Academy Sports and Outdoors (ASO), Commercial Metals Company (CMC), FactSet Research Systems (FDS), Rockwell Medical (RMTI), VEON (VEON), AAR (AIR) and more.
Friday, March 22
The end of the week will see relatively few earnings reports, with Sunlands Technology Group (STG), AstroNova (ALOT), Femasys, (FEMY) and MAIA Biotechnology (MAIA) all scheduled to report their earnings in the pre-market hours.
