After perusing Barrick Gold’s (ABX) earnings, Deutsche Bank’s Jorge Beristain and Chris Terry contend that the gold miner is “steering in the right direction.” They explain why:
Elko Daily Free Press/Associated Press
Post-2Q16 results we have updated forecasts with few adjustments given the in-line result. 2016/17E EBITDA is unchanged at $3.96bn/$4.30bn, respectively. Barrick remains intensely focused on making disciplined decisions and taking further costs out of the business to reduce debt to $8bn by YE16 and $5bn medium term. We believe Barrick managements strategy of focusing on margins is steering the company in the right direction. Our $20/sh NPV is unchanged, however, we have increased our Price Target from $20/sh to $22/sh based on 1.1x NPV (from 1x) with an improving risk profile vs peers and consistent production performance. Maintain Hold on valuation.
Top 10 Gold Stocks To Watch For 2017: Digital Ally Inc.(DGLY)
Digital Ally, Inc. engages in the production and sale of digital video imaging, audio/video recording, storage, and other products for use in law enforcement and security applications. Its digital audio/video recording and storage product line comprises an in-car digital audio/video system that is integrated into a rear view mirror; an all-weather mobile digital audio/video system designed for motorcycle, ATV, and boat uses; a miniature body-worn digital audio/video camera; a hand-held speed detection system based on light detection and ranging (LIDAR); a hand-held thermal imaging camera used for improved night vision; and a digital audio/video system, which is integrated into a law-enforcement style flashlight. The company?s products make self-contained video and audio recordings onto flash memory cards that are incorporated in the body of the digital video rear view mirror, officer-worn video, and audio system and flashlight. Digital Ally, Inc. sells its products to law enforcement agencies and other security organizations, as well as for consumer and commercial applications through direct sales and third-party distributors. The company is based in Overland Park, Kansas.
- [By Lisa Levin]
Digital Ally, Inc. (NASDAQ: DGLY) shares were also up, gaining 63 percent to $6.75 following the deadly shooting in Dallas in which five police offers were murdered by a sniper.
Top 10 Gold Stocks To Watch For 2017: Caseys General Stores, Inc.(CASY)
Casey’s General Stores, Inc., incorporated on December 13, 1967, and its subsidiaries, operate convenience stores under the name Casey’s General Store in approximately 10 Midwestern states, in Iowa, Missouri, and Illinois. The Company also operates approximately two stores selling primarily tobacco products. The stores carry a range of food, including freshly prepared foods such as pizza, donuts, and sandwiches, beverages, tobacco products, health and beauty aids, automotive products and other nonfood items. As of April 30, 2016, the Company operated 1,931 stores. The Company operates approximately two distribution centers, through which the Company supply grocery and general merchandise items to its stores.
The Company’s subsidiary Casey’s Retail Company (Retail Company) operates stores in Illinois, Kansas, Minnesota, Nebraska, North Dakota and South Dakota. The Company’s subsidiary Casey’s Marketing Company (Marketing Company) owns and has responsibility for the operation of stores in Arkansas, Indiana, Iowa, Kentucky, Missouri, Oklahoma, Tennessee and Wisconsin. The Marketing Company also has responsibility for all of the Company’s wholesale operations, including both distribution centers. The second subsidiary, Casey’s Services Company (Services Company) provides a range of construction and transportation services for all stores. CGS Sales Corp. operates a store in Iowa and a store in Nebraska, and Tobacco City Inc. operates a store in North Dakota.
The Company’s general store typically carries over 3,000 food and nonfood items. The Company’s stores sell regional brands of dairy and bakery products, and approximately 90% of the stores offer beer. Its non-food items include tobacco products, health and beauty aids, school supplies, housewares, pet supplies, and automotive products. All but one Casey’s General Stores offer gasoline or diesel for sale on a self-service basis. Gasoline and diesel are sold under the C asey’s name. The Company’s snack centers sell sandwiches, fo! untain drinks, and other items. As of April 30, 2016, the Company sold donuts prepared on store premises in approximately 99% of the stores in addition to cookies, brownies, and other bakery items. The Company also offers made-from-scratch pizza at its approximately 1,840 stores, as well as ham and cheese sandwiches, pork and chicken fritters, sausage sandwiches, chicken tenders, pizza rolls, popcorn chicken, breakfast croissants and biscuits, breakfast pizza, hash browns, quarter-pound hamburgers and cheeseburgers, and potato cheese bites.
The Company competes with Quik Trip, Kum & Go and Kwik Trip.
- [By Chad Fraser]
One chain that continues to match up well with the above criteria is Casey’s General Stores (NasdaqGS: CASY). We last highlighted the company’s strong prospects in a December 12 Investing Daily article. Since then, the stock has risen nearly 40%.
- [By Mike Deane]
After the bell on Monday, Casey’s General Stores (CASY) announced its fiscal Q1 earnings, posting a strong increase in profits and overall revenues compared to the same time period last year.
The Ankeny, IA-based convenience store company announced quarterly revenues of $2.11 billion, which were up from $1.87 billion in last year’s same quarter. Profits for the company came in at $55.71 million, or $1.43 per share, compared to $39.03 million, or $1.01 per share, in last year’s Q1.
Both of these figures beat analysts’ estimates, which were EPS of $1.26 on revenues of $2.1 billion.
CASY shares were up $1.01, or 1.49%, at market close on Monday. YTD, the stock is up more than 26%.
- [By Lawrence Meyers]
Its been a mighty weird year for Caseys General Stores (CASY). The company has had some tough quarters, but just when things are looking bleak, the team got some runners on base and drove a few home.
Top Healthcare Technology Companies To Watch In Right Now: Omeros Corporation(OMER)
Omeros Corporation, incorporated on June 16, 1994, is a biopharmaceutical company. The Company is engaged in discovering, developing and commercializing small-molecule and protein therapeutics for large-market, as well as orphan indications targeting inflammation, coagulopathies and disorders of the central nervous system. Its marketed drug product, Omidria (phenylephrine and ketorolac injection), is launched in the United States for use during cataract surgery or intraocular lens (IOL) replacement. Omidria is derived from the Company’s PharmacoSurgery platform, which is designed for patients undergoing ophthalmological, arthroscopic, urological and other surgical procedures. Its PharmacoSurgery platform is based on low-dose combinations of the United States Food and Drug Administration (FDA) approved therapeutic agents delivered directly to the surgical site throughout the duration of the procedure to inhibit preemptively inflammation and other problems caused by surgical trauma, and to provide clinical assistances both during and after surgery.
The Company’s pipeline includes clinical-stage development programs focused on complement-related thrombotic microangiopathies (TMAs); complement-mediated glomerulopathies; Huntington’s disease and cognitive impairment; addictive and compulsive disorders, and problems associated with urologic surgical procedures. In addition, it has a group of preclinical programs and over two additional platforms: one capable of unlocking new G protein-coupled receptor (GPCR) drug targets and the other used to generate antibodies. OMS103 is the Company’s PharmacoSurgery product candidate, which is developed for use during all arthroscopic procedures, including knee and shoulder arthroscopy, and completed Phase III trials in patients undergoing arthroscopic anterior cruciate ligament reconstruction and arthroscopic partial meniscectomy. OMS103 is a combination of anti-inflammatory/analgesic active pharma ceutical ingredients (APIs), specifically amitriptyline, ket! oprofen and oxymetazoline, and designed to provide a multimodal approach to block preemptively the inflammatory cascade induced by arthroscopy. OMS103 is delivered directly to the joint throughout arthroscopy and is designed to act simultaneously at multiple distinct targets to block preemptively the inflammatory cascade induced by arthroscopic surgery.
Omidria is approved by the FDA for use during cataract surgery or IOL replacement surgery to maintain pupil size by preventing intraoperative miosis (pupil constriction) and to reduce postoperative ocular pain and is approved in all European Union (EU) member states for use during cataract surgery and other IOL replacement procedures to maintain mydriasis (pupil dilation), to prevent miosis and to reduce postoperative eye pain. Omidria is a drug product containing two APIs: ketorolac, an anti-inflammatory agent, and phenylephrine, a mydriatic, or pupil dilating, agent. These procedures are performed to replace a lens opacified by a cataract or to correct a refractive error. Omidria is added to standard irrigation solution used during cataract and lens replacement surgery and is delivered intracamerally, or within the anterior chamber of the eye, to the site of the surgical trauma throughout the procedure.
The Company’s clinical programs include Mannan-binding lectin-associated serine protease-2 (MASP-2) (OMS721)-Lectin Pathway Disorders; PDE10 (OMS824)-CNS Disorders; peroxisome proliferator-activated receptor gamma (OMS405)-Addiction, and OMS201-Urology. The MASP-2 is a pro-inflammatory protein target involved in activation of the complement system. OMS721 is its lead human monoclonal antibody targeting MASP-2. OMS721 has received Orphan Drug designation for the prevention (inhibition) of complement-mediated TMAs, and Fast Track designation for the treatment of patients with Atypical Hemolytic Uremic Syndrome (aHUS). Phosphodiesterase 10 ( PDE10) is an enzyme that is expressed in areas of the brain ! linked to! diseases that affect cognition, including Huntington’s disease and schizophrenia. OMS824 has received Orphan Drug designation for the treatment of Huntington’s disease and Fast Track designation for the treatment of cognitive impairment in patients with Huntington’s disease. OMS824 is in a Phase II clinical program for the treatment of Huntington’s disease and a Phase II clinical program evaluating OMS824 for the treatment of schizophrenia.
The peroxisome proliferator-activated receptor gamma program is developing compositions that include peroxisome proliferator-activated receptor gamma agonists for the treatment and prevention of addiction to substances of abuse, which may include opioids, nicotine and alcohol. It has completed two Phase II clinical trials related to its peroxisome proliferator-activated receptor gamma program. OMS201 is its PharmacoSurgery product candidate designed for use during urological procedures, including ureterscopy for removal of u reteral or renal stones. OMS201 is a combination of ketoprofen, an anti-inflammatory API, and nifedipine, a smooth muscle relaxant API. It has completed a Phase I/Phase II clinical trial.
The Company’s preclinical programs include phosphodiesterase 7 (PDE7) (OMS527), Plasmin (OMS616), MASP-3 (OMS906)-Alternative Pathway Disorders, GPR17-CNS Disorders, GPR101-Metabolic Disorders, GPR151-CNS Disorders, GPR161-Cancer, GPR174-Immune Disorders, GPR183-Skeletal and Infectious Diseases, GPCR Platform and Antibody Platform. The PDE7 program is based on its discoveries of previously unknown links between PDE7 and any addiction or compulsive disorder and between PDE7 and any movement disorders, such as Parkinson’s disease. In its plasmin program, the Company is advancing antifibrinolytic agents for the control of blood loss during surgery or resulting from trauma, as well as for other hyperfibrinolytic states. As part of its MASP program, it has identified MASP-3.
The Company is condu! cting med! icinal chemistry to optimize compounds against GPR17, a GPCR that is linked to myelin formation. It is conducting medicinal chemistry to optimize compounds against GPR101, a GPCR that is linked to appetite and eating disorders. It is conducting medicinal chemistry to optimize compounds against GPR151, a GPCR that is linked to neuropathic pain and cognitive disorders. It is conducting medicinal chemistry to optimize compounds against GPR161, a GPCR that is linked to triple negative breast cancer (TNBC) and sarcomas. It is conducting medicinal chemistry to optimize compounds against GPR174, a GPCR that is linked to autoimmunity. It is conducting medicinal chemistry to optimize compounds against GPR183, a GPCR that is linked to osteoporosis and Epstein-Barr virus (EBV) infections, and associated diseases. The ex vivo platform is for the discovery of monoclonal antibodies, which utilizes a chicken B-cell lymphoma cell line.
The Company competes with The Nordic Group .
- [By Monica Gerson]
Omeros (NASDAQ: OMER) shares fell 2.80% to $8.32 in the pre-market trading. Omeros shares have dropped 9.80% over the past 52 weeks, while the S&P 500 index has gained 16.18% in the same period.
Top 10 Gold Stocks To Watch For 2017: Chesapeake Energy Corporation(CHK)
Chesapeake Energy Corporation engages in the acquisition, exploration, and development of properties for the production of oil, natural gas, and natural gas liquids (NGL) from underground reservoirs in the United States. It operates in two segments, Exploration and Production, and Marketing, Gathering and Compression. The company holds interests in natural gas resource plays, including the Haynesville/Bossier Shales in northwestern Louisiana and East Texas; the Marcellus Shale in the northern Appalachian Basin in Pennsylvania; and the Barnett Shale in the Fort Worth Basin of north-central Texas. It also holds interests in liquids-rich resource plays, such as the Eagle Ford Shale in South Texas; the Utica Shale in Ohio and Pennsylvania; the Anadarko Basin in northwestern Oklahoma and the Texas Panhandle; and the Niobrara Shale in the Powder River Basin in Wyoming. The company owns interests in approximately 43,700 oil and natur al gas wells. As of December 31, 2015, it had estimated proved reserves of 1.504 billion barrels of oil equivalent. The company also provides oil, natural gas, and NGL marketing services comprising commodity price structuring, securing and negotiating gathering, hauling, processing and transportation, contract administration, and nomination services for Chesapeake-operated wells; and marketing services for third-party producers, as well as designs, engineers, fabricates, installs, and sells natural gas compression units, accessories, and equipment used in the production, treatment, and processing of oil and natural gas. Chesapeake Energy Corporation was founded in 1989 and is headquartered in Oklahoma City, Oklahoma.
- [By Ben Levisohn]
We explained how Gilead Sciences (GILD) is still dominating hepatitis C, how Chesapeake Energy (CHK) is pulling the right levers, and why there could be trouble ahead for U.S. Steel (X).
- [By Ben Levisohn]
We have seen several dividend cuts in the recent past, including Anadarko Petroleum cutting its dividend by 81%…and we expect more companies to follow suit. Chesapeake Energy (CHK), ConocoPhillips (COP), Encana,Marathon Oil and Noble Energy (NBL) are among energy companies that have also cut dividends in the past 12 months, but dividend requirements even after several cuts will consume ~26% of 2016 estimated cash flow at current dividend rates (15% excluding Occidental Petroleum (OXY)) for the large cap E&Ps we cover. We believe most of the companies with a dividend yield of more than 1.5% should consider cutting the dividend and find the following companies more likely than not to reduce dividends:Apache (2.5% yield),Devon Energy (4%),Encana (1.5%) andMarathon Oil (2.5%). We believe Canadian Natural Resource (CNQ) (3.0%) is likely to maintain its dividend while Occidental (4.5%) has the financial strength to maintain or even increase the divide nd…
Top 10 Gold Stocks To Watch For 2017: Fortinet, Inc.(FTNT)
Fortinet, Inc. provides cyber security solutions for enterprises, service providers, and government organizations worldwide. The company offers FortiGate physical and virtual appliances products that provide various security and networking functions, including firewall, intrusion prevention, anti-malware, virtual private network, application control, Web filtering, anti-spam, and wide area network acceleration; FortiManager product family to provide a central management solution for FortiGate products comprising software updates, configuration, policy settings, and security updates; and the FortiAnalyzer product family, which provides a single point of network log data collection. It also offers FortiAP secure wireless access points; FortiWeb, a Web application firewall; FortiMail email security; FortiDB database security appliances; FortiClient, an endpoint security software; and FortiSwitch secure switch connectivity product s. In addition, the company provides FortiSandbox advanced threat protection solutions; and FortiDDos and FortiDB database security appliances. Further, it offers security subscription, technical support, training, and professional services. The company was founded in 2000 and is headquartered in Sunnyvale, California.
- [By Lee Jackson]
Deutsche Bank also listed Expedia Inc. (NASDAQ: EXPE), Fortinet Inc. (NASDAQ: FTNT) and Informatica Corp. (NASDAQ: INFA) as the three most controversial stocks. These three literally generated the most hallway, and probably bar-stool, debates at the conference.
Top 10 Gold Stocks To Watch For 2017: MKS Instruments, Inc.(MKSI)
MKS Instruments, Inc. provides instruments, subsystems, and process control solutions that measure, control, power, monitor, and analyze critical parameters of manufacturing processes in the United States and internationally. The company operates through four segments: Advanced Manufacturing Capital Equipment, Global Service, Asia Region Sales, and Other. It offers pressure measurement and control products used for various pressure ranges and accuracies; materials delivery products, including gas flow measurement products and vacuum valves; automation and control products, such as automation platforms, programmable automation controllers, temperature controllers, and software solutions for use in automation, I/O and distributed programmable I/O, gateways, and connectivity products; and vacuum products comprising vacuum containment components, effluent management subsystems and custom stainless steel chambers, vessels, and phar maceutical process equipment hardware and housings. The company also provides power delivery and reactive gas generation products that are used in semiconductor and other thin film, as well as medical imaging equipment applications. In addition, it offers gas composition analysis products, such as mass spectrometry- and Fourier transform infra-red based gas composition analysis, and tunable filter spectroscopy products used in the engine development, environmental emissions monitoring, air safety monitoring, and semiconductor industries; information technology products, including software products for analyzing data sets for the pharmaceutical, biotech, and other industries. The company also builds precision machined components and electromechanical assemblies for the analytical instrument, scientific, semiconductor, and medical industries. It serves semiconductor capital equipment manufacturers through direct sales forces, sales representatives, and agents. The company was founded in 1961 and is headquartered in Andover, Massachuset! ts.
- [By Monica Gerson]
MKS Instruments, Inc. (NASDAQ: MKSI) is estimated to post its quarterly earnings at $0.33 per share on revenue of $177.19 million.
Pioneer Natural Resources (NYSE: PXD) is projected to post a quarterly loss at $0.75 per share on revenue of $711.66 million.
Top 10 Gold Stocks To Watch For 2017: Natural Grocers by Vitamin Cottage, Inc.(NGVC)
Natural Grocers by Vitamin Cottage, Inc., incorporated on April 9, 2012, is a retailer of natural and organic groceries and dietary supplements. The Company offers a selection of natural and organic food, dietary supplements, body care products, pet care products and books. It operates in the natural and organic retail stores segment. The Company operates within the natural products retail industry, which includes conventional supermarkets, natural, gourmet and specialty food markets, mass and discount retailers, warehouse clubs, independent health food stores, dietary supplement retailers, drug stores, farmers’ markets, food cooperatives (co-ops), mail order and online retailers, and multi-level marketers. The Company offers a range of cosmetics, skin care, hair care, fragrance and personal care products. The Company’s offerings include hypo-allergenic and fragrance-free household products, including cleaning supplies, paper products, dish and laundry soap, and other comm on household products, including diapers. Its other products include books and handouts. The Company stocks approximately 400 titles in each store’s book department. Its titles cover various approaches to diet, lifestyle and health. It offers various handouts on health topics and dietary supplements.
The Company offers a selection of natural and organic grocery products with a focus on minimally processed and single ingredient products. The Company also carries a range of products associated with special diets, such as gluten free, vegetarian and non-dairy. The Company’s grocery products include bulk food and private label products; dry frozen and canned groceries; meats and seafood; dairy products and dairy substitutes; prepared foods; bread and baked goods, and beverages. Its bulk food and private label products include nuts, water, pasta, canned seafood, dried fruits, grains, granolas, honey, eggs, herbs, spices and teas. It also offers self-serve filtered dr inking water that is dispensed into one gallon or larger con! tainers provided by its customers. Its natural and organic dry, frozen and canned groceries include cereals, soups, baby foods, frozen entrees and snack items. In addition, it offers a selection of natural chocolate bars, and energy, protein and food bars. The Company offers dairy products, such as milk, eggs, cheeses, yogurts and beverages, as well as non-dairy substitutes made from almonds, coconuts, rice and soy. It also offers refrigerated prepared fresh food items, such as salads, sandwiches, salsa, humus and wraps. The Company’s dietary supplement department sells name-brand supplements, as well as a line of private label dietary supplements.
The Company offers its customers an average of approximately 20,700 stock keeping units (SKUs) of natural and organic products per store, including an average of approximately 6,500 SKUs of dietary supplements. It sells peanut and almond butters, freshly ground in-store under the Natural Grocers brand. The Company own s and operates approximately 110 stores in over 20 states, including Colorado, Arizona, Arkansas, Idaho, Kansas, Minnesota, Missouri, Montana, Nebraska, Nevada, New Mexico, North Dakota, Oklahoma, Oregon, Texas, Utah, Washington and Wyoming. It also operates a food repackaging facility and distribution center in Colorado. The Company contracts with third-party manufacturers to produce groceries and dietary supplements under its private labels, which include the Natural Grocers and Vitamin Cottage brands.
The Company competes with Kroger, Safeway, Wal-Mart, Target, Whole Foods, The Fresh Market, Sprouts, Trader Joe’s, Sam’s Club and Costco.
- [By Lisa Levin]
Shares of Natural Grocers by Vitamin Cottage Inc (NYSE: NGVC) were down 32 percent to $13.90 as the company reported weak preliminary results for the second quarter.
Top 10 Gold Stocks To Watch For 2017: Credit Suisse Group(CS)
Credit Suisse Group AG, together with its subsidiaries, operates as a financial services company. The company operates in three segments: Private Banking, Investment Banking, and Asset Management. The Private Banking segment offers advisory services and a range of wealth management solutions, including pension planning, life insurance products, tax planning, and wealth and inheritance advice for the high-net-worth and ultra-high-net-worth individuals. This segment also supplies banking products and services to affluent, high-net-worth and ultra-high-net-worth clients, and corporates and institutions. The Investment Banking segment provides investment banking and securities products and services to corporations, governments, pension funds, and institutions. Its products and services include debt and equity underwriting, sales and trading, mergers and acquisitions advice, divestitures, corporate sales, restructuring, and investment research. The Asset Management segment offe rs integrated investment solutions and services to institutions, governments, foundations and endowments, corporations, and individuals. It provides access to a range of investment classes across alternative investment, asset allocation, and traditional investment strategies. The company operates in Switzerland, Europe, the Middle East, Africa, the Americas, and the Asia Pacific. Credit Suisse Group AG was founded in 1856 and is headquartered in Zurich, Switzerland.
- [By Wayne Duggan] Related DB Deutsche Bank In The Tank Mike Khouw Sees Unusual Options Activity In Deutsche Bank 33 Large Banks On The Federal Reserve's Radar In 2016 (Seeking Alpha) Related CS Earnings Scheduled For February 4, 2016 Blockchain Moves Forward In The Financial Industry Credit Suisse Group AG (CS) Tidjane Thiam on Q4 2015 Results – Earnings Call Transcript (Seeking Alpha)
The latest credit default swap (CDS) data from BMO Capital Markets indicate a number of investors are growing increasingly concerned about the one-year outlook for capital markets. In a new report, analyst Mark Steele discussed the recent surge in one-year CDS activity, and what it means for the market.
- [By Paul R. La Monica]
European banks worse off than 2008? Lamensdorf is concerned about the exposure to bad loans (especially energy company debt) held by big banks such as Royal Bank of Scotland (RBS), Credit Suisse (CS) and Deutsche Bank (DB). He’s shorting all three.
Top 10 Gold Stocks To Watch For 2017: Corrections Corporation of America(CXW)
Corrections Corporation of America, together with its subsidiaries, owns and operates privatized correctional and detention facilities in the United States. It owns, operates, and manages prisons and other correctional facilities; and provides inmate residential and prisoner transportation services for governmental agencies. The company also offers various rehabilitation and educational programs, including basic education, religious services, life skills and employment training, and substance abuse treatment, as well as food services, work and recreational programs, and healthcare services, such as medical, dental, and mental health services. In addition, it leases its facilities to third-party operators. The company serves federal, state, and local correctional and detention authorities. As of December 31, 2012, the company owned and managed 47 correctional and detention facilities; and managed 20 correctional and detention f acilities, which it did not own. Corrections Corporation of America was founded in 1983 and is based in Nashville, Tennessee.
- [By Ben Levisohn]
Shares of Corrections Corp of America (CXW) and GEO Group (GEO) have lost half their value after reports that the Justice Department plans to end the use of private prisons. The Washington Post’s Matt Zapotosky has the details:
Bryan Anselm for The Wall Street Journal
The Justice Department plans to end its use of private prisons after officials concluded the facilities are both less safe and less effective at providing correctional services than those run by the government.
Deputy Attorney General Sally Yates announced the decision on Thursday in a memo that instructs officials to either decline to renew the contracts for private prison operators when they expire or substantially reduce the contracts scope. The goal, Yates wrote, is reducing and ultimately ending our use of privately operated prisons.
It’s not as if these stocks weren’t without their problems before their announcement. In a report released on Aug. 14, Canccord’s Ryan Meliker and Michael Kodesch discussed the headwinds facing Corrections Corp of America and GEO Group:
The prison sector has faced headwinds as of late, as BOP reductions, family detention dynamics, and general sentencing reform dialogue have weighed on the two prison REIT names. We continue to believe the sector offers a unique blend of stable fundamentals and the potential for accretive external growth, though we also acknowledge CXW’s current risk associated with the renegotiation of a material contract, which we believe to be one-off in nature. Additionally, it is our view that while headline risk is a concern from a stock performance perspective, these are unwarranted concerns from an operating perspective. We continue to prefer GEO shares to those of CXW, driven by GEO’s lower risk to family detention, higher and safer dividend yield (8.0% vs. CXW’s 7.9%) and
diversified business model.
But it sure looks like their probl
Top 10 Gold Stocks To Watch For 2017: Tanger Factory Outlet Centers Inc.(SKT)
Tanger Factory Outlet Centers, Inc. operates as a real estate investment trust (REIT). The company, through its subsidiary, Tanger Properties Limited Partnership, engages in acquiring, developing, owning, operating, and managing factory outlet shopping centers. As of September 30, 2005, Tanger owned and operated 33 factory outlet centers in 22 states totaling 8.7 million square feet of gross leasable area. It also provides development, leasing, and management services for its outlet centers. The company has elected to be taxed as a REIT under the Internal Revenue Code. As a REIT, it would not be subject to Federal income taxes provided it distributes at least 90% of its taxable income to its shareholders. Tanger Factory Outlet Centers was founded by Stanley K. Tanger in 1981. The company is headquartered in Greensboro, North Carolina.
- [By Shauna O’Brien]
Jefferies announced on Wednesday that it has cut its rating on Tanger Factory Outlet Centers Inc. (SKT).
The firm has downgraded SKT from “Buy” to “Hold,” and has lowered the company’s price target from $40 to $35. This price target suggests an 8% upside from the stock’s current price of $32.22.
Analyst Omotayo Okusanya commented: “We expect near-term headwinds for the mall and outlet mall segment as tenant sales growth appears to be slowing.”
“At SKT, development yields on two projects have also been reduced. Further, rising interest rates negatively impact our DDM-derived PT. Our lowered PT of $35 represents a 10% total return over the next-twelve-months (NTM); we are downgrading to Hold,” added the analyst.
Tanger Factory Outlet shares were mostly flat during pre-market trading Wednesday. The stock is up more than 5% YTD.