Citigroup’s Andrew Kaplowitz explains why 3M’s (MMM) stock isn’t getting any love from the market today following its earnings:
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A relatively in-line result vs. our below Consensus estimates that we lowered after the company warned about weaker organic growth in early June. Reported EPS of $2.08 (vs. our $2.02 and Consensus of $2.07) includes about ~$0.04 of tax benefit vs. our model. Revenue was a modest beat vs. our estimate ($7.7bn vs. our $7.6bn), and operating margin improvement of +50bp (vs. our +60bp) still seems to be tracking in-line for a better 2H16, but Street expectations that have been slow to adjust lower could keep some pressure on the stock after this result…
More conservativism in the new full year guide – New EPS guidance of $8.15-$8.30 brackets our pre-report estimate of $8.15 at the low end of the range. We thought new organic growth guidance of 1% was possible (vs. the previous guide of 1-3% and our 0.4%), so 0-1% could be viewed with some disappointment by investors, but shouldnt be a big surprise given the risk of E&E and Industrial remaining challenged in the near-term…
Top Medical Stocks To Own Right Now: Trinity Industries Inc.(TRN)
Trinity Industries, Inc. provides products and services to the industrial, energy, transportation, and construction sectors primarily in the United States, Canada, Mexico, the United Kingdom, Singapore, and Sweden. The company?s Rail Group manufactures and sells railcars, including auto carrier, box, gondola, hopper, intermodal, specialty, and tank cars; and railcar components, such as couplers and axles. This group also offers repair and coating services. It primarily serves railroads, leasing companies, and industrial shippers of various products. Trinity Industries? Railcar Leasing and Management Services group leases tank cars and freight cars to industrial shippers and railroads operating in petroleum, chemical, agricultural, and energy industries with a fleet of 54,595 owned or leased railcars; provides management and administrative services; and manages railcar fleets on behalf of third parties. The company?s Construction Products group produces ready mix concret e; produces and distributes construction aggregates, including crushed stone, sand and gravel, asphalt rock, and specialty sands and gravel; manufactures highway products and other steel products for infrastructure related projects; supplies ready mix concrete; and provides hot-dip galvanizing services for fabricated steel materials. It primarily serves contractors and subcontractors in the construction and foundation industry. Trinity Industries? Inland Barge group manufactures inland barges; and fiberglass reinforced lift covers. It serves commercial marine transportation companies. The company?s Energy Equipment group manufactures structural wind towers, tank containers, and tank heads for pressure vessels; fertilizer containers; and tank heads for non-pressure vessels, LPG tanks, and utility, traffic, and lighting structures. It serves turbine producers, as well as industrial plants, utilities, residences, and small businesses. The company was founded in 1933 and is he adq uartered in Dallas, Texas.
- [By Lisa Levin]
Shares of Trinity Industries Inc (NYSE: TRN) were down 23 percent to $16.30 after the company issued weak earnings guidance for 2016. Trinity Industries reported upbeat earnings for the fourth quarter, but the company’s revenue missed analysts’ expectations.
- [By Shauna O’Brien]
On Friday, Trinity Industries Inc (TRN) announced that it has raised its dividend by 15.4%.
The company’s board has approved an increase in its quarterly dividend from 13 cents to 15 cents per share, or 60 cents annually.
The dividend will be paid on October 31 to shareholders of record on October 15. The stock will go ex-dividend on October 10.
Trinity Industries shares were mostly flat during premarket trading Friday. The stock is up 20% YTD.
Top Medical Stocks To Own Right Now: Honeywell International Inc.(HON)
Honeywell International Inc. operates as a diversified technology and manufacturing company worldwide. Its Aerospace segment provides turbine propulsion engines, auxiliary power units, environmental control and electric power systems, engine systems and accessories, avionic systems, aircraft lighting, inertial sensors, control products, space products and subsystems, and landing products for aircraft manufacturers, airlines, business and general aviation, military, space, and airport operations, as well as offers management and technical, logistics, aircraft wheels and brakes and repair, and overhaul services. The company?s Automation and Control Solutions segment provides environmental and combustion controls, and sensing controls; security and life safety products and services; scanning and mobility products; process automation products and solutions; and building solutions and services for homes, buildings, and industrial facilities. Its Specialty Materials segment prov ides resins and chemicals; hydrofluoric acid; fluorocarbons; fluorine specialties; nuclear services; performance chemicals; chemical processing sealants; fibers and composites; specialty films and additives; imaging and electronic chemicals; semiconductor materials and services; catalysts, adsorbents, and specialties; and renewable fuels and chemicals. It offers these products for refining, petrochemical, automotive, healthcare, agricultural, packaging, refrigeration, appliance, housing, semiconductor, wax, and adhesives segments. This segment also provides process technology and equipment for the petroleum refining, and petrochemical and gas processing industries. The company?s Transportation Systems segment provides charge-air systems; thermal systems; filters, spark plugs, electronic components, and car care products; and brake hard parts and other friction materials for passenger cars and commercial vehicles. The company was founded in 1920 and is headquartered in Morri s Township, New Jersey.
- [By Ben Levisohn]
Bernstein’s Steven Winoker and team contend that Brexit is “bad for all our companies it is just a matter of degree.” They explain why Tyco International (TYC), Idex (IEX), Danaher (DHR),Honeywell International (HON) and Emerson Electric (EMR) could feel some degree of pain:
- [By Ben Levisohn]
Bernstein’s Steven Winoker and team consider the implications of Honeywell International’s (HON) $1.5 billion purchase of Intelligrated:
Top 10 Consumer Service Companies To Invest In 2016: Intuit Inc.(INTU)
Intuit Inc. provides business and financial management solutions for small businesses, consumers, and accounting professionals primarily in the United States, Canada, the United Kingdom, Australia, India, and Singapore. The companys Small Business segment provides QuickBooks financial and business management online services and desktop software; QuickBooks technical support services; financial supplies; and QuickBooks Accountant, QuickBooks Accountant Plus, and QuickBooks Online Accountant, as well as the QuickBooks ProAdvisor Program for the accounting professionals. This segment also offers small business payroll products and services, including online payroll offerings, such as Quickbooks Online Payroll and Intuit Online Payroll; desktop payroll offerings comprising QuickBooks Basic Payroll and QuickBooks Enhanced Payroll; and full service payroll offerings, such as Intuit Full Service Payroll and QuickBooks Assisted Payr oll. In addition, it provides merchant services, including credit and debit card processing; Web-based transaction processing services for online merchants; online payment services; GoPayment mobile payment processing services; and QuickBooks point of sale solutions. Its Consumer segment provides TurboTax income tax preparation products and services; and electronic tax filing services. The companys Professional Tax segment offers Lacerte, ProSeries, ProFile, and Intuit Tax Online professional tax products and services; and electronic tax filing services, bank product transmission services, and training services. The company sells its products and services through various sales and distribution channels, including Websites, promotions, call centers, retail locations, and online mobile application stores, as well as through alliance partners, such as banks, credit unions, and other financial institutions. Intuit Inc. was founded in 1983 and is headquartered in Mountain View, California.
- [By Shauna O’Brien]
Morgan Stanley reported on Wednesday that it has downgraded financial management solution provider Intuit Inc. (INTU).
The firm has cut its rating on INTU to “Underweight,” and has given the company a $62 price target. This price target suggests a 6% decline from the stock’s current price of $66.30. This downgrade reflects the company’s slowing growth of its tax business.
Intuit shares were mostly flat during pre-market trading Wednesday. The stock is up 11% YTD.
- [By Monica Gerson]
Intuit Inc. (NASDAQ: INTU) reported upbeat results for its third quarter and raised its FY16 guidance. Intuit shares dropped 2.15 percent to $105.00 in the after-hours trading session.