10 Stocks Gaining Attention After Posting Earnings Reports

In this article, we will take a look at the 10 stocks gaining attention after posting earnings reports.

The fourth-quarter earnings season is underway. Notable companies, including Verizon Communications Inc. (NYSE:VZ), American Express Company (NYSE:AXP), Raytheon Technologies Corporation (NYSE:RTX), General Electric Company (NYSE:GE) and NextEra Energy, Inc. (NYSE:NEE), recently released their earnings reports.

Shares of Raytheon Technologies, General Electric and NextEra Energy fell on Tuesday, January 25, after they failed to meet revenue expectations for the fourth quarter. On the other hand, American Express shares jumped after posting upbeat financial results.

Photo by Nick Chong on Unsplash

We will review their detailed performance in the remaining article.

Stocks Gaining Attention After Posting Earnings Reports

10. Crane Co. (NYSE:CR)

Number of Hedge Fund Holders: 20

Shares of Crane Co. (NYSE:CR) slightly moved up in the after-hours trading session on Monday, January 24, 2022, after announcing better-than-expected financial results for the fourth quarter.

Crane Co. (NYSE:CR) reported adjusted earnings of $1.25 per share, up from 92 cents per share in the comparable period of 2020. Revenue for the quarter jumped 13 percent on a year-over-year basis to $771 million.

Analysts were expecting Crane Co. (NYSE:CR) to post adjusted earnings of $1.13 per share on revenue of $745.86. If we look at the sales performance of different segments, Aerospace & Electronics revenue rose 10 percent to $158 million, Process Flow Technologies revenue climbed 16 percent to $299 million, and Payment & Merchandising Technologies revenue jumped 11 percent to $314 million in the quarter.

Crane Co. (NYSE:CR) also released its financial outlook for 2022. The company expects adjusted earnings in the range of $7.00 – $7.40 per share on revenue of around $3.3 billion for the full year.

Speaking on the results, CEO Max Mitchell said in a statement:

“Looking to 2022, our performance momentum continues, and we are confident in the strength of our three growth platforms and our demonstrated ability to successfully deliver strong results in the current environment.”

9. Logitech International S.A. (NASDAQ:LOGI)

Number of Hedge Fund Holders: 20

Shares of Logitech International S.A. (NASDAQ:LOGI) slightly moved down in the after-hours trading session on Monday, January 24, 2022, after its third-quarter profit and sales decreased versus last year.

Logitech International S.A. (NASDAQ:LOGI) earned $1.55 per share on an adjusted basis, well below $2.45 per share in the same period of 2020. Revenue also slipped two percent on a year-over-year basis to $1.63 billion. Nevertheless, the results surpassed the consensus forecast of $1.10 per share for earnings and $1.27 billion for revenue.

If we compare the performance of different businesses, revenue from the Keyboards & Combos segment jumped 29 percent, while revenue from the Pointing Devices and Gaming segment rose eight percent on a year-over-year basis. On the downside, revenue from the Video Collaboration segment slipped two percent versus the year-ago quarter.

Looking forward, Logitech International S.A. (NASDAQ:LOGI) expects revenue growth in the range of 2 – 5 percent for its FY 2022, compared to its previous projection of flat sales growth.

Like Logitech International S.A. (NASDAQ:LOGI), Verizon Communications Inc. (NYSE:VZ), General Electric Company (NYSE:GE) and NextEra Energy, Inc. (NYSE:NEE) also came into the limelight after posting their earnings reports.

8. Halliburton Company (NYSE:HAL)

Number of Hedge Fund Holders: 29

Shares of Halliburton Company (NYSE:HAL) rose nearly four percent on Monday, January 24, 2022, after delivering impressive financial results for the fourth quarter. The oil field service company reported adjusted earnings of 36 cents per share, compared to 28 cents per share in the year-ago quarter.

Analysts were looking for earnings of 34 cents per share. In addition, Halliburton Company (NYSE:HAL) posted revenue of $4.28 billion, up 32.1 percent on a year-over-year basis and above analysts’ average estimate of $4.09 billion.

Revenue from the completion and production unit jumped 30.2 percent to $2.36 billion, while revenue from the drilling and evaluation segment climbed 34.6 percent to $1.92 billion in the quarter. Moreover, Halliburton Company (NYSE:HAL) announced a dividend of 12 cents per share for the first quarter.

7. Brown & Brown, Inc. (NYSE:BRO)

Number of Hedge Fund Holders: 31

Brown & Brown, Inc. (NYSE:BRO) is one of the leading independent insurance brokerages in the U.S. The company offers risk management services to various clients, including individuals, general businesses and government organizations.

Shares of Brown & Brown, Inc. (NYSE:BRO) climbed over 17 percent in the after-hours trading session on Monday, January 24, 2022, after posting solid profit and sales for the fourth quarter.

Brown & Brown, Inc. (NYSE:BRO) earned 42 cents per share on an adjusted basis, up 31.1 percent from the comparable period of 2020. In addition, revenue for the quarter jumped 15 percent versus last year to $738.5 million. The results exceeded analysts’ average estimate of 39 cents per share for earnings and $725.4 million for revenue.

Like Brown & Brown, Inc. (NYSE:BRO), investors are also closely watching Verizon Communications Inc. (NYSE:VZ), Raytheon Technologies Corporation (NYSE:RTX), General Electric Company (NYSE:GE) and NextEra Energy, Inc. (NYSE:NEE), after they released their financial results.

6. International Business Machines Corporation (NYSE:IBM)

Number of Hedge Fund Holders: 41

Shares of International Business Machines Corporation (NYSE:IBM) rose nearly three percent in the after-hours trading session on Monday, January 24, 2022, after beating expectations for the fourth quarter.

International Business Machines Corporation (NYSE:IBM) posted adjusted earnings of $3.35 per share, above the consensus forecast of $3.14 per share. The quarterly revenue of $16.70 billion also surpassed the expectations of $16.06 billion.

Now, let’s have a look at the performance of key business units of International Business Machines Corporation (NYSE:IBM). On a constant currency basis, Software revenue rose 10.3 percent to $7.3 billion, consulting revenue jumped 15.1 percent to $4.7 billion, and infrastructure revenue inched up 1.7 percent to $4.4 billion in the quarter. On the downside, financing revenue plummeted nearly 29 percent to $0.2 billion.

Speaking on the results, CEO Arvind Krishna said in a statement:

“We increased revenue in the fourth quarter with hybrid cloud adoption driving growth in software and consulting. Our fourth-quarter results give us confidence in our ability to deliver our objectives of sustained mid-single digit revenue growth and strong free cash flow in 2022.”

5. Raytheon Technologies Corporation (NYSE:RTX)

Number of Hedge Fund Holders: 48

Shares of Raytheon Technologies Corporation (NYSE:RTX) fell over three percent in the pre-market trading session on Tuesday, January 25, 2022, after announcing lower-than-expected sales for the fourth quarter.

Raytheon Technologies Corporation (NYSE:RTX) reported adjusted earnings of $1.08 per share, beating expectations of $1.02 per share. Revenue for the quarter came in at $17 billion, slightly behind analysts’ average estimate of $17.26 billion.

The aerospace and defense conglomerate also issued its financial outlook for 2022. Raytheon Technologies Corporation (NYSE:RTX) expects adjusted earnings in the range of $4.60 – $4.80 per share and revenue between $68.5 – $69.5 billion.

Speaking on the results, CEO of Raytheon Technologies Corporation (NYSE:RTX), Greg Hayes, said:

“We closed the year on a strong note with full year adjusted EPS and free cash flow significantly exceeding the outlook we set a year ago. We also exceeded our cost synergy target for the year, delivered margin expansion across our businesses and returned $5.3 billion of capital to shareowners including the repurchase of $2.3 billion of RTX shares, demonstrating strong execution against our strategy and operational initiatives in 2021.”

4. General Electric Company (NYSE:GE)

Number of Hedge Fund Holders: 53

General Electric Company (NYSE:GE) reported better-than-expected earnings for the fourth quarter. However, its revenue fell short of expectations, sending its shares down more than six percent in the pre-market trading session on Tuesday, January 25, 2022.

The company earned 92 cents per share on an adjusted basis, significantly higher than 58 cents per share in the year-ago quarter. Analysts were expecting General Electric Company (NYSE:GE) to post earnings of 87 cents per share.

In addition, General Electric Company (NYSE:GE) posted revenue of $20.3 billion, down 3 percent on a year-over-year basis and below expectations of $21.5 billion.

Looking at the performance of its key business units, power revenue fell 13 percent to $4.66 billion, healthcare revenue slipped 4.1 percent to $4.63 billion and renewable energy revenue declined 5.6 percent to $4.19 billion. On the bright side, aviation revenue rose 4 percent to $6.08 billion in the quarter.

Commenting on the quarter, CEO of General Electric Company (NYSE:GE), H. Lawrence Culp, said:

“We’re seeing real momentum and opportunities for sustainable profitable growth from near-term improvements in GE’s businesses, especially as Aviation recovers and our end markets strengthen.”

3. NextEra Energy, Inc. (NYSE:NEE)

Number of Hedge Fund Holders: 53

Shares of NextEra Energy, Inc. (NYSE:NEE) turned red in the pre-market trading session on Tuesday, January 25, 2022, after posting its fourth-quarter revenue below expectations. The energy company generated revenue of $5.05 billion, significantly lower than the consensus forecast of $6.26 billion.

In addition, NextEra Energy, Inc. (NYSE:NEE) reported adjusted earnings of 41 cents per share, slightly higher than 40 cents per share in the year-ago quarter and above analysts’ average estimate of 39 cents per share.

The company also increased its earnings outlook for 2022. NextEra Energy, Inc. (NYSE:NEE) now expects adjusted earnings in the range of $2.75 – $2.85 per share, compared to its previous outlook of $2.55 – $2.75 per share.

Discussing the results, CEO of NextEra Energy, Inc. (NYSE:NEE), Jim Robo, said:

“We delivered this terrific performance while executing on the largest capital program in our history, investing approximately $16 billion in American infrastructure in 2021, and maintaining one of the strongest balance sheets and credit positions in our industry.”

2. Verizon Communications Inc. (NYSE:VZ)

Number of Hedge Fund Holders: 57

Shares of Verizon Communications Inc. (NYSE:VZ) slightly moved up in the pre-market trading session on Tuesday, January 25, 2022, after beating profit and sales expectations for the fourth quarter.

Verizon Communications Inc. (NYSE:VZ) earned $1.31 per share on an adjusted basis, up from $1.21 per share in the year-ago quarter. Revenue came in at $34.1 billion, down nearly two percent from the comparable period of 2020. The results surpassed analysts’ average estimate of $1.29 per share for earnings and $33.9 billion for revenue.

The company also issued its financial outlook for 2022. Verizon Communications Inc. (NYSE:VZ) expects adjusted earnings in the range of $5.40 – $5.55 per share for the full year.

Commenting on the quarter, CFO of Verizon Communications Inc. (NYSE:VZ), Matt Ellis, said:

“Our financial discipline enabled us to deliver attractive service revenue growth and profitability this quarter as we expanded our portfolio with the TracFone acquisition and saw strong demand for our products and services. In 2021 we delivered on raised adjusted EPS* expectations, grew revenue, achieved our $10 billion cost savings goal, and funded our C-Band spectrum investment.”

1. American Express Company (NYSE:AXP)

Number of Hedge Fund Holders: 57

Shares of American Express Company (NYSE:AXP) rose nearly four percent in the early trading Tuesday, January 25, 2022, after delivering impressive financial results for the fourth quarter.

American Express Company (NYSE:AXP) reported adjusted earnings of $2.18 per share, compared to $1.76 per share in the year-ago quarter. Analysts were looking for earnings of $1.86 per share.

Revenue for the quarter jumped 30 percent versus last year to $12.15 billion, beating expectations of $11.54 billion. Revenue from the global consumer services group rose 23 percent to $6.9 billion, while global commercial services revenue jumped 30 percent to $3.6 billion. In comparison, revenue from the global merchant and network services climbed 31 percent to $1.5 billion in the quarter.

Speaking on the results, CEO of American Express Company (NYSE:AXP), Stephen Squeri, said:

“Based on our new growth plan and the benefits we anticipate from an improving macro environment, we expect to generate elevated levels of revenue growth in 2022 in the range of 18 to 20 percent and earnings per share of $9.25 to $9.65. Longer term, as the economy reaches a steady state, our aspiration is to achieve revenue growth in excess of 10 percent and EPS growth in the mid-teens.”

You can also take a peek at 10 Notable Earnings Reports to Watch and Top 10 Stock Picks of Thomas Bancroft’s Makaira Partners.

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Disclosure: None. 10 Stocks Gaining Attention After Posting Earnings Reports is originally published on Insider Monkey.