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Thursday’s Hottest Earnings Reports: Cabelas, Total SA, Bunge, ITT Educational, Cirrus Logic

All three major indexes are moderately lower today as traders digest the latest earnings releases by leading American corporations. Among the companies that just released their latest quarterly results are Cabelas Inc (NYSE:CAB), Bunge Ltd (NYSE:BG), Total SA (ADR) (NYSE:TOT), Cirrus Logic, Inc. (NASDAQ:CRUS), and ITT Educational Services, Inc. (NYSE:ESI). We’ll take a closer look at the performance of the five stocks in this article and use SEC filings to determine how hedge funds are trading these equities.

Hedge fund sentiment is an important metric for assessing the long-term profitability. At Insider Monkey, we track over 765 hedge funds, whose quarterly 13F filings we analyze and determine their collective sentiment towards several thousand stocks. However, our research has shown that the best strategy is to follow hedge funds into their small-cap picks. This approach can allow monthly returns of nearly 95 basis points above the market, as we determined through extensive backtests covering the period between 1999 and 2012 (see the details here).

Cabelas Reports Mixed Results

Cabelas Inc (NYSE:CAB) reported net income of $0.59 per share on revenue of $929.9 million for the second quarter, missing the bottom-line estimate by $0.02 per share but beating the top-line mark by $24.31 million. Sales rose by 11.2% year-over-year and comparable retail store sales inched up by 1.5%. U.S comparable store sales rose by 2% while internet and catalog sales increased by 3.3%. Management continues to expect a high-single-digit growth rate in revenue and a high-single-digit to low-double-digit growth rate in EPS for the full 2016 year. Ken Fisher‘s Fisher Asset Management reported owning a stake of more than 1.00 million shares of Cabelas Inc (NYSE:CAB) as of the end of the second quarter.

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Earnings Beat at Bunge

Agribusiness giant Bunge Ltd (NYSE:BG) earned $0.79 per share on revenue of $10.54 billion for the second quarter, exceeding the consensus estimates by $0.41 per share and $460 million respectively. GAAP EPS rose to $0.81 from just $0.31 a year earlier, as improvement in grains and milling margins drove profits. Management continues to expect earnings per share growth for the full year, with returns on capital above WACC. Bunge shares are 3.51% higher this morning. 28 funds in our system had a bullish position in Bunge Ltd (NYSE:BG) at the end of the first quarter. 

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On the next page we’ll take a closer look at the earnings results of Total SA, Cirrus Logic, and ITT Educational Services.

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