10 Stocks Making Moves After Earnings Reports

In this article, we will take a look at the 10 stocks making moves after earnings reports.

Stocks from the consumer cyclical, technology and real estate sectors, including MercadoLibre, Inc. (NASDAQ:MELI), The Home Depot, Inc. (NYSE:HD), Palo Alto Networks, Inc. (NASDAQ:PANW) and CoStar Group, Inc. (NASDAQ:CSGP), recently posted their quarterly reports.

Shares of MercadoLibre and Palo Alto Networks turned green following the results. On the other hand, shares of Home Depot and CoStar Group plunged sharply despite beating expectations for the fourth quarter.

Several other stocks, including medical device company Medtronic plc (NYSE:MDT) and fertilizer maker The Mosaic Company (NYSE:MOS), also came into the spotlight after releasing their financial results.

Stocks Making Moves After Earnings Reports

10. Public Storage (NYSE:PSA)

Number of Hedge Fund Holders: 33

Shares of Public Storage (NYSE:PSA) rose over two percent in the after-hours trading session on Tuesday, February 22, 2022, after posting better-than-expected financial results for the fourth quarter.

Public Storage (NYSE:PSA) reported core FFO (funds from operations) of $3.54 per share, up from $2.93 per share in the year-ago period. Revenue for the quarter came in at $924.3 million, compared to $748.5 million for the fourth quarter of 2020. Analysts were looking for core FFO of $3.44 on revenue of $913.2 million.

The California-based real estate investment trust also issued its financial outlook for 2022. Public Storage (NYSE:PSA) expects core FFA in the range of $14.75 – $15.65 per share and revenue growth of 12 – 15 percent for the full year.

Speaking on the results, CEO Joe Russell said in a statement:

“Our momentum continues with customers enjoying end-to-end digital experience options, high-growth properties in our non-same store pool comprising 25% of the portfolio, and broad opportunity for continued growth across our acquisition, development, redevelopment, and third-party management platforms.”

9. Cadence Design Systems, Inc. (NASDAQ:CDNS)

Number of Hedge Fund Holders: 34

Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) jumped nearly seven percent in the after-hours trading session on Tuesday, February 22, 2022, after posting its fourth-quarter profit and sales above expectations.

Cadence Design Systems, Inc. (NASDAQ:CDNS) earned 82 cents per share on an adjusted basis, topping expectations of 76 cents per share. The quarterly revenue of $773 million also exceeded analysts’ average estimate of $757.38 million.

Looking forward, Cadence Design Systems, Inc. (NASDAQ:CDNS) expects adjusted earnings in the range of $1 – $1.04 per share and revenue between $850 – $870 million for the first quarter.

Like Cadence Design Systems, Inc. (NASDAQ:CDNS), investors are also closely monitoring MercadoLibre, Inc. (NASDAQ:MELI), Palo Alto Networks, Inc. (NASDAQ:PANW) and CoStar Group, Inc. (NASDAQ:CSGP), following their financial results.

8. TransUnion (NYSE:TRU)

Number of Hedge Fund Holders: 34

Shares of TransUnion (NYSE:TRU) fell to a nearly 10-month low on Tuesday, February 22, 2022, after its financial results for the fourth quarter missed expectations. The consumer credit reporting agency posted adjusted earnings of 81 cents per share, compared to 72 cents per share in the year-ago period.

In addition, TransUnion (NYSE:TRU) generated revenue of $790 million in the quarter, up 21 percent on a year-over-year basis. However, the results fell short of the consensus forecast of 91 cents per share for earnings and $796.33 million for revenue.

TransUnion (NYSE:TRU) also released its region-wise sales numbers. Revenue from the U.S. markets jumped 25 percent to $481 million, while international revenue increased 15 percent to $185 million in the quarter.

Looking forward, TransUnion (NYSE:TRU) expects adjusted earnings in the range of 91 – 94 cents per share and revenue between $906 – $914 million for the first quarter.

7. Verisk Analytics, Inc. (NASDAQ:VRSK)

Number of Hedge Fund Holders: 41

Shares of Verisk Analytics, Inc. (NASDAQ:VRSK) rose over seven percent in the after-hours trading session on Tuesday, February 22, 2022, after delivering solid profit for the fourth quarter.

Verisk Analytics, Inc. (NASDAQ:VRSK) earned $1.47 per share on an adjusted basis, representing a jump of 15.7 percent from the comparable period of 2020. Analysts were looking for earnings of $1.41 per share.

Revenue for the quarter rose 7.4 percent on a year-over-year basis to $766 million but fell short of the consensus forecast of $770.03 million. If we look at the performance of its flagship business units, underwriting & rating revenue jumped 10.8 percent, while claims revenue increased 4.8 percent in the quarter.

Among other updates, Verisk Analytics, Inc. (NASDAQ:VRSK) announced that it repurchased $75 million worth of its common stock at an average price of $212.82 apiece in the fourth quarter. In addition, the company raised its cash dividend to 31 cents per share.

Like Verisk Analytics, Inc. (NASDAQ:VRSK), MercadoLibre, Inc. (NASDAQ:MELI), Palo Alto Networks, Inc. (NASDAQ:PANW) and CoStar Group, Inc. (NASDAQ:CSGP), also caught investors’ attention following their earnings reports.

6. The Mosaic Company (NYSE:MOS)

Number of Hedge Fund Holders: 46

The Mosaic Company (NYSE:MOS) is one of the leading producers of potash and phosphate fertilizers, the two primary nutrients required for plants growth. With a workforce of over 13,000 people, the company serves farmers worldwide.

Shares of The Mosaic Company (NYSE:MOS) turned red in the pre-market trading session on Wednesday, February 23, 2022, after its fourth-quarter profit fell short of expectations. The company reported adjusted earnings of $1.95 per share, significantly higher than 57 cents per share in the year-ago quarter but behind the consensus of $1.98 per share.

In addition, The Mosaic Company (NYSE:MOS) posted revenue of $3.841 billion for the quarter, compared to $2.5 billion it generated during the fourth quarter of 2020. Analysts were looking for revenue of $3.84 billion.

Looking forward, The Mosaic Company (NYSE:MOS) expects demands for its fertilizers products to stay high in the current fiscal year.

Speaking on the results, CEO Joc O’Rourke said in a statement:

“Mosaic delivered record EBITDA in 2021, and we expect strong performance to continue in 2022. As a result of successful investments like our new Esterhazy K3 potash mine, Mosaic Fertilizantes in Brazil, and our cost-structure transformation, we are generating tremendous value in the current environment. This has provided us with the opportunity to return significant capital to shareholders, while still investing efficiently in the business and strengthening the balance sheet.”

5. CoStar Group, Inc. (NASDAQ:CSGP)

Number of Hedge Fund Holders: 49

Shares of CoStar Group, Inc. (NASDAQ:CSGP) plunged to a nearly three-year low in the pre-market trading session on Wednesday, February 23, 2022, despite beating expectations for the fourth quarter.

CoStar Group, Inc. (NASDAQ:CSGP) reported adjusted earnings of 35 cents per share, up from 29 cents per share in the same period of 2020. Revenue for the quarter rose 14 percent on a year-over-year basis to $507 million. The results easily surpassed the consensus forecast of 29 cents per share for earnings and $501.28 million for revenue.

Looking forward, CoStar Group, Inc. (NASDAQ:CSGP) expects revenue in the range of $510 – $515 million for the first quarter. The midpoint of the outlook translates to year-over-year growth of 12 percent.

Commenting on the results, CEO Andrew Florance said:

“Our fourth quarter 2021 revenue run rate is now over $2 billion and our sales production has never been stronger. Company-wide net sales bookings for 2021 increased 18% year-over-year to $217 million, while net sales bookings in the fourth quarter of 2021 reached an all-time high of $67 million.”

4. Medtronic plc (NYSE:MDT)

Number of Hedge Fund Holders: 55

Medtronic plc (NYSE:MDT) recently announced mixed financial results for its fiscal third quarter. The medical device company earned $1.37 per share on an adjusted basis, up from $1.29 per share in the same period last year.

Revenue for the quarter came in at $7.76 billion, nearly unchanged from the year-ago period. Analysts expected Medtronic plc (NYSE:MDT) to post earnings of $1.37 per share on revenue of $7.90 billion.

Medtronic plc (NYSE:MDT) also issued its segment-wise sales performance. Revenue from both Cardiovascular and Neuroscience segments inched up one percent to $2.74 billion and $2.14 billion, respectively. In comparison, revenue from the Medical-Surgical Portfolio slipped one percent to $2.290 billion, while Diabetes revenue fell seven percent to $584 million in the quarter.

The company also issued the earnings outlook for its fiscal fourth quarter. Medtronic plc (NYSE:MDT) expects adjusted earnings in the range of $1.56 – $1.58 per share, compared to the consensus of $1.58 per share.

3. The Home Depot, Inc. (NYSE:HD)

Number of Hedge Fund Holders: 68

Shares of The Home Depot, Inc. (NYSE:HD) fell to a nearly seven-month low on Tuesday, February 22, 2022, even after announcing better-than-expected financial results for the fourth quarter.

The Georgia-based home improvement retailer posted earnings of $3.21 per share, up from $2.65 per share it reported for the comparable period of 2020. Analysts were looking for earnings of $3.17 per share.

Revenue for the quarter advanced 10.7 percent versus last year to $35.72 billion, while analysts expected The Home Depot, Inc. (NYSE:HD) to post revenue of $34.87 billion. Comparable sales for the quarter increased 8.1 percent, while U.S. comparable sales rose 7.6 percent.

Looking forward, The Home Depot, Inc. (NYSE:HD) expects earnings to grow in the low single digits in the current fiscal year. Moreover, it expects FY 2022 sales and comparable sales to be slightly positively versus last year.

Speaking on the results, CEO Craig Menear said:

“Fiscal 2021 was another record year for The Home Depot. We achieved a milestone of over $150 billion in sales. Our ability to grow the business by over $40 billion in the last two years is a testament to investments we have made in the business, our ability to execute with agility, and our associates’ relentless focus on our customers.”

2. Palo Alto Networks, Inc. (NASDAQ:PANW)

Number of Hedge Fund Holders: 73

Shares of Palo Alto Networks, Inc. (NASDAQ:PANW) turned green in the pre-market trading session on Wednesday, February 23, 2022, following impressive financial results for its fiscal second quarter.

Palo Alto Networks, Inc. (NASDAQ:PANW) reported adjusted earnings of $1.74 per share, topping expectations of $1.65 per share. Revenue for the quarter jumped 30 percent on a year-over-year basis to $1.3 billion, ahead of the consensus forecast of $1.28 billion.

The California-based cybersecurity company also updated the financial outlook for its fiscal third quarter. Palo Alto Networks, Inc. (NASDAQ:PANW) expects adjusted earnings in the range of $1.65 – $1.68 per share and revenue between $1.345 – $1.365 billion.

Commenting on the quarter, CEO Nikesh Arora said:

“In Q2, our company continued to benefit from strength across our three security platforms, driven by strong cybersecurity demand, organizations architecting for hybrid work and growing their hyperscale cloud footprints.”

1. MercadoLibre, Inc. (NASDAQ:MELI)

Number of Hedge Fund Holders: 74

Shares of MercadoLibre, Inc. (NASDAQ:MELI) jumped over 10 percent in the pre-market trading session on Wednesday, February 23, 2022, despite its mixed financial performance for the fourth quarter.

MercadoLibre, Inc. (NASDAQ:MELI) reported a loss of 92 cents per share, narrower than a loss of $1.02 per share it posted for the comparable period of 2020. But on the contrary, analysts were looking for earnings of 95 cents per share.

On the bright side, the quarterly sales of $2.1 billion were up 73.9 percent versus last year and above the consensus of $2.03 billion. Commerce revenue for the quarter jumped 55.6 percent to $1.357 billion, while fintech revenue climbed 70.1 percent to $773 million.

Among other updates, MercadoLibre, Inc. (NASDAQ:MELI) reported that the total payment volume for the quarter reached $24.2 billion, translating to a year-over-year surge of 72.8 percent. In addition, its gross merchandise volume also surged 32.2 percent versus last year to $8 billion.

Speaking on the results, CFO of MercadoLibre, Inc. (NASDAQ:MELI), Pedro Arnt, said:

“Last year presented us with challenges, and with those also came many more opportunities. With our teams’ resilience and focus on delivering on our strategic objectives, we have been able to overcome shifting pandemic lockdown measures, rising inflationary cost pressures and a highly competitive environment in the digital commerce space. The final outcome was a year with record results across the board, sustained strong growth in key business metrics and topline, and improving margins and operating income for a second consecutive year.”

You can also take a peek at 11 Best Robotics Stocks To Buy For 2022 and Top 10 Stock Picks of Thomas Bancroft’s Makaira Partners.

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Disclosure: None. 10 Stocks Making Moves After Earnings Reports is originally published on Insider Monkey