10 Stocks in Focus After Posting Their Financial Results

In this article, we will take a look at the 10 stocks in focus after posting their financial results.

Notable tech companies, including Dell Technologies Inc. (NYSE:DELL), Autodesk, Inc. (NASDAQ:ADSK), and HP Inc. (NYSE:HPQ), released their earnings reports earlier this week. Shares of both Dell and HP closed higher after their upbeat profit and sales. However, Autodesk stock hit a one-year low after stating that problems like supply-chain hurdles and labor shortages are hurting its recovery pace.

In addition, several other companies, such as discount stores operator Dollar Tree, Inc. (NASDAQ:DLTR) and agricultural equipment maker Deere & Company (NYSE:DE), also gained investors’ attention following their quarterly results.

We will review the detailed financial performance of these companies in the remaining article. So, without wasting any time, let’s start our list of 10 stocks in focus after posting their financial results.

Photo by Nick Chong on Unsplash

Stocks in Focus After Posting Their Financial Result

10. Guess?, Inc. (NYSE:GES)

Number of Hedge Fund Holders: 21

Shares of Guess?, Inc. (NYSE:GES) jumped more than 11 percent on Wednesday, 24 November 2021, after announcing better-than-expected profit and sales for its fiscal third quarter.

The retailer of apparel and related accessories reported adjusted earnings of 62 cents per share, up from 58 cents per share in the year-ago quarter. In addition, revenue for the quarter rose 13 percent versus last year to $643.1 million. Analysts were expecting Guess?, Inc. (NYSE:GES) to report earnings of 46 cents per share on revenue of $611.3 million.

Speaking on the results, CEO Carlos Alberini said in a statement:

“The better performance than expected was driven by our European Wholesale, Americas Retail and Licensing businesses, which posted strong top and bottom line results across the board. All in all, we delivered a 10% operating margin in the period, driven by strong gross margin expansion, as a result of lower promotional activity and improved IMUs in spite of increased freight costs related to the supply chain disruptions experienced in the market.”

Like Guess?, Inc. (NYSE:GES), investors are also closely watching Dell Technologies Inc. (NYSE:DELL), Autodesk, Inc. (NASDAQ:ADSK), HP Inc. (NYSE:HPQ), Dollar Tree, Inc. (NASDAQ:DLTR), and Deere & Company (NYSE:DE), following their quarterly results.

9. Nordstrom, Inc. (NYSE:JWN)

Number of Hedge Fund Holders: 25

Shares of Nordstrom, Inc. (NYSE:JWN) plummeted nearly 30 percent, hitting a one-year low on Wednesday, 24 November 2021. The drop came after the luxury department store chain failed to meet profit expectations for the third quarter.

Nordstrom, Inc. (NYSE:JWN) earned 39 cents per share in the quarter, missing expectations of 56 cents per share with a big margin. On the bright side, the quarterly revenue of $3.6 billion surpassed analysts’ average estimate of $3.55 billion. The company had posted earnings of 34 cents per share on revenue of $3.09 billion for the comparable period of 2020.

If we look at the performance of its flagship units, revenue at Nordstrom’s namesake segment jumped 11 percent on a year-over-year basis, while revenue at Nordstrom Rack segment climbed 35 percent in the quarter. In addition, digital sales in the quarter fell 12 percent versus the comparable period of 2020.

Nordstrom, Inc. (NYSE:JWN) also reaffirmed its sales outlook for the full year. The company continues to expect revenue growth of 35 percent versus last year.

8. The Gap, Inc. (NYSE:GPS)

Number of Hedge Fund Holders: 28

Shares of The Gap, Inc. (NYSE:GPS) recently fell to their lowest level in more than a year following its weak quarterly profit and disappointing full-year outlook. The California-based clothing retailer blamed the pandemic-driven factory closures and production delays for the disappointing results.

The Gap, Inc. (NYSE:GPS) reported adjusted earnings of 27 cents per share for the third quarter, well below the consensus forecast of 50 cents per share. The quarterly revenue of $3.94 billion also missed analysts’ average estimate of $4.43 billion.

The company also slashed its profit outlook for the full year. The Gap, Inc. (NYSE:GPS) now expects adjusted earnings in the range of $1.25 – $1.40 per share, compared to its previous guidance of $2.10 – $2.25 per share. The revised outlook is also below the consensus forecast of $2.20 per share.

Discussing the results, CEO Sonia Syngal said in a statement:

“While we entered the third quarter with growing momentum, acute supply chain headwinds affected our ability to fully meet strong customer demand.”

7. Pure Storage, Inc. (NYSE:PSTG)

Number of Hedge Fund Holders: 28

Shares of Pure Storage, Inc. (NYSE:PSTG) hit an all-time high of $31.88 on Wednesday, 24 November 2021, after delivering solid profit and sales for the third quarter. The California-based technology company attributed the latest performance to solid customer demand and execution across all key business divisions.

Pure Storage, Inc. (NYSE:PSTG) reported earnings of 22 cents per share, significantly higher than 1 cent per share in the comparable period of 2020. Analysts were looking for earnings of 12 cents per share.

In addition, Pure Storage, Inc. (NYSE:PSTG) posted revenue of $563 million, up 37 percent versus the year-ago quarter and ahead of the consensus forecast of $531 million. Looking at the key growth indicators, subscription services revenue in the quarter climbed 38 percent to $187.8 million. In comparison, subscription annual recurring revenue jumped 30 percent versus last year to $788.3 million.

The company also released its sales outlook for the fourth quarter and full year. Pure Storage, Inc. (NYSE:PSTG) expects revenue of around $630 million for the December quarter. For its FY 2022, it expects revenue of around $2.1 billion.

Like Pure Storage, Inc. (NYSE:PSTG), Dell Technologies Inc. (NYSE:DELL), Autodesk, Inc. (NASDAQ:ADSK), HP Inc. (NYSE:HPQ), Dollar Tree, Inc. (NASDAQ:DLTR), and Deere & Company (NYSE:DE) also came into the limelight after posting their financial results.

6. VMware, Inc. (NYSE:VMW)

Number of Hedge Fund Holders: 31

Shares of VMware, Inc. (NYSE:VMW) closed higher on Wednesday, 24 November 2021, following its better-than-expected financial results for the third quarter. The cloud computing and virtualization technology company reported adjusted earnings of $1.72 per share, above the consensus forecast of $1.54 per share.

VMware, Inc. (NYSE:VMW) had posted adjusted earnings of $1.66 per share in the comparable period of 2020. Revenue for the quarter rose 11 percent versus last year to $3.19 billion, ahead of the consensus forecast of $3.12 billion.

Commenting on the results, CFO Zane Rowe said:

“We continued healthy revenue growth and profitability in Q3, with Subscription and SaaS ARR increasing 25% year-over-year to $3.3 billion. Our performance in Q3 reflects strong year-over-year growth in major product categories as we deliver compelling value to our customers.”

5. HP Inc. (NYSE:HPQ)

Number of Hedge Fund Holders: 34

Shares of HP Inc. (NYSE:HPQ) jumped more than 10 percent, hitting a nearly seven-month high on Wednesday, 24 November 2021, after its fiscal fourth-quarter profit and sales came in above expectations.

HP Inc. (NYSE:HPQ) reported adjusted earnings of 94 cents per share, up from 62 cents per share in the comparable period of 2020. Analysts were looking for earnings of 88 cents per share.

Revenue for the quarter rose nine percent on a year-over-year basis to $16.7 billion, beating the consensus forecast of $15.39 billion. Revenue from the personal systems segment rose 13 percent versus last year to $11.8 billion. On the downside, revenue from the printing segment remained nearly flat at $4.9 billion.

HP Inc. (NYSE:HPQ) also released the profit outlook for its fiscal first quarter and full year. The company expects adjusted earnings in the range of 99 cents – $1.05 per share for the current quarter. For its FY 2022, it expects adjusted earnings between $4.07 – $4.27 per share.

Speaking on the results, CEO Enrique Lores said:

“Our results reflect a growth-oriented company on its front foot and hitting its stride. We delivered a very strong quarter to close out an exceptional year of double-digit revenue, operating profit and EPS growth while returning record levels of capital to shareholders.”

4. Dollar Tree, Inc. (NASDAQ:DLTR)

Number of Hedge Fund Holders: 38

Shares of Dollar Tree, Inc. (NASDAQ:DLTR) hit an all-time high of $149.37 on Wednesday, 24 November 2021, after announcing its financial results for the third quarter. The operator of discount variety stores earned 96 cents per share in the quarter, compared to $1.39 per share in the same period of 2020.

Revenue for the quarter rose 3.9 percent on a year-over-year basis to $6.42 billion. Analysts were expecting Dollar Tree, Inc. (NASDAQ:DLTR) to post earnings of 96 cents per share on revenue of $6.41 billion.

The company also released its financial outlook for the fourth quarter. Dollar Tree, Inc. (NASDAQ:DLTR) expects earnings in the range of $1.69 – $1.79 per share and revenue between $7.02 – $7.18 billion.

Discussing the results, CEO Michael Witynski said:

“We experienced a strong finish to the quarter, as shoppers are increasingly focused on value in this inflationary environment. Our Dollar Tree pricing tests have demonstrated broad consumer acceptance of the new price point and excitement about the additional offerings and extreme value we will be able to provide.”

3. Deere & Company (NYSE:DE)

Number of Hedge Fund Holders: 54

Shares of Deere & Company (NYSE:DE) rose over five percent on Wednesday, 24 November 2021, after delivering solid profit and sales for its fiscal fourth quarter. The agricultural machinery and equipment maker earned $4.12 per share in the quarter, well above $2.39 per share in the comparable period of 2020.

In addition, Deere & Company (NYSE:DE) posted revenue of $11.33 billion, up 16 percent versus the year-ago quarter. The results easily surpassed the consensus forecast of $3.91 per share for earnings and $10.46 billion for revenue.

Looking forward, Deere & Company (NYSE:DE) expects earnings in the range of $6.5 to $7 billion for its fiscal year 2022, in line with the consensus forecast of $6.77 billion.

Commenting on the quarter, CEO John May said in a statement:

“Our results reflect strong end-market demand and our ability to continue serving customers while managing supply-chain issues and conducting contract negotiations with our largest union.”

2. Dell Technologies Inc. (NYSE:DELL)

Number of Hedge Fund Holders: 60

Shares of Dell Technologies Inc. (NYSE:DELL) hit a one-month high on Wednesday, 24 November 2021, after announcing impressive financial results for the third quarter, driven by growth across all key businesses.

Dell Technologies Inc. (NYSE:DELL) reported adjusted earnings of $2.37 per share, compared to $2.03 in the same period of 2020. Analysts were looking for earnings of $2.30 per share. In addition, revenue for the quarter climbed 21 percent on a year-over-year basis to $28.4 billion, beating the consensus forecast of $27.37 billion.

If we break down the total sales by segments, revenue from the client solutions group climbed 35 percent on a year-over-year basis to $16.5 billion. In comparison, revenue from the infrastructure solutions group rose five percent to $8.4 billion, while VMware revenue jumped 10 percent to $3.2 billion in the quarter.

1. Autodesk, Inc. (NASDAQ:ADSK)

Number of Hedge Fund Holders: 60

Shares of Autodesk, Inc. (NASDAQ:ADSK) plummeted more than 15 percent on Wednesday, 24 November 2021, despite beating expectations for the third quarter. The company reported adjusted earnings of $1.33 per share, up from $1.04 per share in the year-ago quarter.

Revenue for the quarter jumped 18 percent on a year-over-year basis to $1.13 billion. The surge was mainly driven by strong design revenue, which climbed 17 percent versus last year to $994 million. Analysts were expecting Autodesk, Inc. (NASDAQ:ADSK) to post earnings of $1.26 per share on total revenue of $1.12 billion

The company also narrowed its profit outlook for the full year. Autodesk, Inc. (NASDAQ:ADSK) now expects adjusted earnings in the range of $4.98 – $5.04 per share, compared to its earlier guidance of $4.91 – $5.06 per share.

Speaking on the results, CFO Debbie Clifford said:

“Demand was robust in Q3, driving strong new subscriptions growth and renewal rates. We expect it to remain so in Q4. However, supply chain disruption and resulting inflationary pressures, a global labor shortage, and the ebb and flow of COVID, are impacting the pace of our recovery and outlook.”

You can also take a peek at Top 10 Stocks to Invest in According to Alan Fournier’s Pennant Capital and Top 10 Stock Picks of Brandon Osten’s Venator Capital Management.

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Disclosure: None. 10 Stocks in Focus After Posting Their Financial Results is originally published on Insider Monkey.